Help, plans to sell up my maisonette and my husbands over the last few months in town A and buy a house together in the next town along (town B) have been derailed by both tenants getting in to major arrears and refusing to leave. We may get the maisonette back in july; the flat in the autumn if we are lucky.
We are not in the UK right now (my job took us overseas). I am having to take my 5yo out of Spanish school and really really keen not to have her chop and change between different UK schools. We had planned relocation to town B as it cuts 30 mins off my 1h45 commute, has better access to shops and kids activities. We’d need to borrow to make the move - about a 500pcm mortgage.
Option 1: Move in to the maisonette. Stay put for school year or two. Would allow us to use this address for a (late) school application now as we have mail redirected. No rent/mortgage costs plus potential rent from flat (assuming I have the nerve to rent again). School stability. Long commute.
Option 2: move in to maisonette with view to moving as soon as flat back in our posession and both can be sold. We’d in situ to do redecorating to sell but squeezing 3bed posessions in 2bed which would make decorating and selling difficult. School instability. Long commute.
Option 3: Rent in town B. Rent c. £750 a month but can cover from salary. School stability (assuming we get local place from mid July application. Shorter commute. Would mean we can sell properties chain free and decorate empty.
Wow that is long. Thanks if you made it this far. Is it obvious what to do? I feel so stressed. Staying in the place we own isnt even a no brainer money wise as unless the property market is flat/drops any savings we’d make would be wiped out by just a 1.5% rise in property values given we want to move to a bigger, more expensive place.