Should I stay or should I go?

[happytoseeyou]

I am a bit of a Rightmove addict and I have seen a property that I really like but I can't decide whether we should make a move or stay where we are.

4 years ago we completely renovated our current house so I know all the wiring is sound, boiler replaced, the kitchen and bathroom all to our taste plus we have solar panels which were installed when the tariff was at its highest so we get a very good return.

We are currently planning on a ground floor extension to give us some more living space now the children are getting older, but this other property is making me consider whether we should just move.

The other house has an extra bedroom (which we technically don't need but I would like a guest room), good decor throughout and the garage has been converted into a separate annex, which perhaps we could AirBnB for a little extra income.

I estimate we would need an extra £70k mortgage, which we could manage if we pulled our belts in.

So wise property experts, is it worth taking the plunge and a move to a slightly bigger house, with a potential AirBnB 'business' to help with the additional mortgage or stay in the home we have designed ourselves.

(Both properties are in close proximity to each other so change of area is not a consideration/issue)

How much will it cost you in stamp duty to move?

With the current house you have are you happy their? Do you have decent respectable neighbours? Is it in a location that's suit's you and your family needs?

I too was/am a Rightmove addict. I owned a flat that I completely replastered wired & a plumbed, it was beautiful. It was located in town with everything on my doorstep.
I sold it last year making a substantial profit, took a 16K loan from my parents and doubled my mortgage to purchase a detached, spacious, Bungalow something I've always wanted.

Worst decision in my life. A year on and I'm stuck in the middle of nowhere (I live alone so this even harder) still have debt to my parents, the property needs a complete overhaul and the biggest kick in the teeth is that I have a complete pikey living next door who plays loud (and I mean LOUD) music at the weekends.

I feel so cross with myself for selling my flat, I just want to go back in time and force myself not to go through with the sale and purchase. I so depressed and isolated, the situation is on my mind 24/7 I feel sick to my stomach.

My point is don't think the Grass is always Greener... Some times it really, really isn't

Awkwardpaws27 I hadn't even considered stamp duty! I think that may price the second house out of our market.

Ggrrr What an awful situation you have found yourself in and a cautionary tale. Thank you for sharing.

We are very happy where we are, I think the thought of further renovations vs a larger house that met our needs was an interesting prospect.

We did go and view the house at the weekend and it is a beautiful property but on balance I am not sure it will gives us enough 'more' to justify the additional outgoings.

A thought process worth going through to cement we are making the right decisions.

Would the mortgage company allow you to let through air b n b?

If you don't think it offers that much more, then it doesn't make much sense. Especially given all the other costs like stamp duty, agent and solicitor fees, removals company etc.

Smae position op. We are lustibg over a beautiful house nearby. But we live in a nice 5 bed house which we chose for the amenities nearby and schools. All those things would be a drive away. We would love a nice old pile, it is a bit nearer the station for my commute and more in the countryside but really that is it...