Would you move?!

[Cally0410]

I need help quieting my mind, so would love to know what you lovely people think!
Should we stay or should we go...

We have not lived in our current property for long, but it is quite a ‘special’ house, and as such is now worth £125k- £130k more than we bought it for. This has prompted my husband to want to move and cash in.
We live an hour and a half ish from family and in a nice smallish village. Our house has some extras such as an indoor swimming pool, outbuildings with a bar and snooker room etc. But It needs a hell of a lot of work inside and outside inc new kitchen and bathrooms and renovations to the outbuildings and updating the pool amongst other things. We don’t have the money to do this work so will be looking at doing it veryyyy slowly over the next 10 years I imagine.

Now the alternative is to move closer to home (where I am very surprised that houses are ridiculously expensive) and live in a ‘standard’ house which we could do some cosmetic work to but which would leave us with money to have a buy to let and have some savings left over meaning we wouldn’t need to worry about day to day money again hopefully.

Compromises are that we move from this special house to a significant downgrade, pros are closer to home and more financial freedom.

What would you do? And congrats if you’ve got this far :)

I would move as I would resent the money doing up your existing house

Move

What will it be worth in years to come if all ready £123k more?
Personally I would love space, so I would plod through the jobs as any hose no matter how it is when you move in is just work.
Or if I could sell up and retire well that would be a no brainer!

I'd stick it out, do all the work bit by bit and look forward to a really decent chunk of equity eventually! Would you ever be in a position again to buy a special house if you downsize now? I think it's worth working with what you have to enjoy the space and cash in later 👍🏼

I would move. No house is special enough to keep me away from family

I’d stay where you are, but that’s because I’d love a swimming pool.

Move and enjoy your time and money.

I would probably move but it depends how much I loved my 'special' house and how badly the upgrades are needed.

I think it depends on your age, if you are 30-40 I would do the house up over the 10 year period, enjoy it for 5 years and then sell up. If you are 50 plus I really could not be bothered scrimping and saving until I’m 60 to do a house renovation so I would cash in now and go and enjoy my life near my family. Even if you buy a cheaper downgraded house you could still aim to get something quirky and interesting, it doesn’t have to be a bog standard 3 bed semi, you get gorgeous small houses and lovely little cottages, just aim for something unique. A cute cottage near family and a buy to let for financial freedom sounds lovely!