Would you move from a gorgeous detached rural RENTED cottage to a semi-detached/terraced MORTGAGED house?

[ShouldIStayOrShouldIGoGo]

I'm starting to think seriously about buying my first home.

I used to rent a really shitty council flat in a rough area that had horrendous neighbours, gave me serious anxiety, no place for my child to play etc (high flats on main road, needles outside, concrete, broken glass, no grass/parks nearby).

I retrained and now have a good job on 32,000 a year. I had to move location for this job and deliberately chose somewhere that would be the total opposite of where we were before as I thought it would be best for us. We live very rurally in a rented small cottage with a massive garden and no neighbours for miles. Downside is, i've realised I don't have time for gardening and it's taking up all my free time (and a lot of money!) to maintain it, wee need to drive a fair bit to get to school and work each day, we need to drive 20+ miles if we want to get anywhere (friends, shopping etc), delivery drivers can never find us and lots of places won't deliver, i can't arrange a council uplift as the pick up point is my wheelie bin which i need to drive to get to! So can't get rid and replace much needed things like my sofa, mattress etc as these won't fit in my car. Also i spend a lot in diesel each month. More importantly, my child is now in secondary and wants more freedom to go meet her friends etc.

Absolute bonus point is - PEACE! It is bloody lovely not having neighbours, not hearing their music or smelling their smoke or having to make small talk when I can't be arsed etc. This is what I'm terrified of giving up. I pay £575 a month to live here.

There are semi-detached and terraced houses nearer school and work in town for approx 70,000-80,000. I feel as though i could get a 10% deposit together in the next 2 years if we are very frugal. However, I am really anxious about hearing neighbour noise again or being stuck somewhere that I end up hating or the neighbours are horrendous. It would be nice to be able to get hassle-free deliveries though, have friends round or have a drink at a friend's house and be able to walk home, for dd to be on a bus route and near her friends and school.

I feel as though the horrible place i used to live and the memories from that are now haunting me and affecting my decision making. I don't want to keep paying rent for this place and tons of money on gardening when I could be having mortgage repayments of less than £300 a month.

I suppose only people who used to, or currently have, really really shit neighbours and understand how important peace and quiet are to me will be able to advise accurately on my predicament. I'd really love any opinions though.

For context, i'm 33, never been a homeowner, lone parent with no other income other than my £32000 yearly salary, CB and a small amount of tax credits. DD is 13.

I want security but I'm terrified of what i'll be giving up.

I would not myself if I were in your shoes.
I would hate a terraced house.

On your sofa/mattress a lot of companies that deliver new furniture/mattresses will take away the old for a small fee. Failng that, I know charities like British heart foundation will pick up donated furniture/mattresses if yours are still in decent condition.

You can work with DD friends parents on the transport. DD can go to their house after school for example, and you pick her up after work.

I like in a town with affordable housing and the 70k houses would not be in a good area here.

Do you know the areas well?

Dont forget costs of repairs new boilers appliances maintenance on top of your 300 mortgage repayments
Save more buy somewhere nicer in 5 years?

Thanks for your opinions. Yes, the house would be in the 'not so good' areas. However, DD would be allowed to stay in her current school (we already had to do a placing request because of where we live now) and she wouldn't be that far from her friends. I know the streets well and which ones to definitely avoid but some are in rough area but mainly retirement flats and houses.

I feel as though this would be my chance to get on the property ladder and get some security

I would definitely move to buy.

@Embracelife It doesn't work like that, or at least hasn't for the last 30 years. House prices rise all the time and savings never keep up.

I would just look for a mortgaged property but research the area carefully. In a couple of years you could probably move up to a better property.

I would always prefer to buy if I could. It would hugely depend on area. We’ve owned two terrace Houses. Both good areas but one neighbour was a house full of taxi drivers who were coming and going at odd hours. Second house was fine we had families each side. Could you compromise perhaps and see what’s inbetween? Area is very important.

“hasn't for the last 30 years. House prices rise all the time and savings never keep up.“

How quickly we forget the 2008/9 crash in property prices! Some properties lost 1/3rd their value and millions of people ended up owing more on their mortgage than what their house was worth.

Personally I would look to buy, though of course I don't know what area you are living in and whether 70-80k houses are in nice areas.

You are young enough to get a long mortgage and you should be mortgage free by the time you retire. When you are renting, you will have to carry on paying your rent in retirement. Will you be able/want to look after a large garden when you're older. You get CB now, but that will be stopped when your child leaves school/college.

Could you save as much as possible in the next coupe of years, while looking at rightmove to research what you could afford and the area you would like to be in. Maybe even consider a renovation if it gets you a home in a nicer area. Yes, a renovation would cost a lot in replacing everything, but you can just start off with the essentials and do the rest as and when you are able.

Very best of luck to you, whatever you decide.

Absolutly not never no!. We moved from a semi (because of noisy neighbours) to a brand new detached in a 'regeneration' area and it was hell, we were just on the out skirts of the not so nice area but that doesnt stop the not so nice people from leaving their streets. We lasted 2 years then stumped up more to move to smaller detached in a nice family area, downside is we are in the middle of suburbia and the traffic is horrendous.
I wouldn't move from the peace and quiet of the country to a terrace in possibly dodgy place.

Why don’t you save and get your10%deposit, and then see what’s available in two years time. You may find a more suitable property than those available at the moment. In this current climate, the housing pool is small, as fewer people want to sell. However, in a couple of years, there may be more stock available, so you may find something more suitable.

I don’t think now is a wise time to buy. Especially if you are in the northern part of England.
www.bloomberg.com/news/articles/2020-04-01/u-k-lenders-confront-biggest-mortgage-test-since-2008-crash

Thanks again for all of your input!

You've helped me realise a detached house and peaceful area is not something I'd be willing to give up.

However, DD really wants to move to town and have more freedom to go to friends' houses etc. I'd also like the handiness of being local.

I've had another look at the financials.

A detached 2 bedroom house in a nice area in town would cost minimum of £150,000 now.

I am fortunate that our outgoings at the moment are very low. Other than rent. If we were exceptionally frugal, no holidays, no big days out, etc, and if I increase my hours at work slightly (even with the loss of tax credits), we could save £1000 a month for a mortgage. In 15 months, I could have a £15000 deposit.

It'll be tough but i'm determined! When I put my head to something, i can do it. DD is on board and knows this means we need to be much tighter with spending for a few years.

I'm maybe being over-excited and naive here. I really feel like it's possible though.

Why not see what you can afford now in nice areas? Even terraced houses have ends of terrace, or those with inside hallways/outside alleyways between downstairs rooms. Or a semi where the less important rooms are on the party wall?

Buy a tiny detached rather then a bigger terrace or semi.

Or go for a tiny doer upper in a nicer area. Worst house in the best area

It difficult isn’t it?
At 13 your DD will be growing up fast and her independence will become increasingly important and she may come to really resent not being near her friends.

I’d look for the worst house in the best area, that way you can get on the ladder and add extra value to your home which will help in moving up the ladder later.

It would seem a shame to scrimp and save for two years or so - your dd needs that social life now ideally and it won't be much of a life if you can't do days out etc. Have you seen a mortgage broker to see how much you can lend - I mean an independent one? You might be surprised. As a pp said you could get a very long term mortgage to spread the cost then if your circumstances improve you can overpay.

Oh I dream of living rurally away from everyone, so imo I would stay put and enjoy the peace and tranquility!

If you'll need a while to save the deposit another thought is to move to a (hopefully cheaper) rental similar to where you could buy and see how that goes?

@newyeardelurker that’s a really good idea.

Your Dd could be driving in 4 years, could have gone to uni in 5. So not sure I’d let the thought of her being able to see friends more easily influence me.

But I’d rather buy than rent even if that meant a drop in lifestyle.