Is this a crazy thing to consider?

[Banjobollo]

Selling a lovely house in a cheap area to take on a massive mortgage to move into the catchment for the best secondary school in the city....in time for the admissions deadline this October! Would greatly appreciate any advice to help me with this house move dilemma that it driving me slowly insane...

Pros for moving

• We’ve been in this house a long time and there isn’t much we could do to improve or add value...Kind of ready for a change of scenery
• School in current area is ‘Needs Improvement’. Results are well below national average and it has historically had a terrible reputation although now part of an academy chain and things seem to be improving. If we had to stay here it wouldn’t be the end of the world
• Long walk to school and only a few of DS’s friends will be going there
• School in the new area is Outstanding with amazing results, pastoral care etc. It’s head and shoulders above everything else in the city
• The only other areas worth moving to for school are out of town villages / rural and although we initially considered this we think staying central would suit us better
• Houses around here (up and coming area) seem to be selling very fast at the moment so don’t think we’ll have a problem selling

Cons for moving

• The new area is eyewateringly expensive. We would need to more than double our mortgage to afford a house the same size as we have now and it probably wouldn’t be quite as nice (no views, busier roads). It will be a stretch financially and mean less money for luxuries
• the catchment area is tiny so very few roads in our budget.
• timescales for moving feel very tight...we have a few jobs to do before going on the market so realistically won’t be until start of April. If anything goes wrong we might not make it in time for end October deadline. The stress may well be the end of me!

I’m going round in circles and boring my family to tears with this so would love some other opinions. What would you do in my situation? Go for the expensive area, compromise and go out of town or just stay here? Thank you. PS. Sorry this is so long!!

Move for the school, live centrally (much better for teens)
Get your house on the market ASAP. Be prepared to rent a small place in your chosen area rather than try and get a chain lined up.
Declutter - you can manage in a smaller place if you ruthlessly get rid of stuff

Be aware that at the moment, since due to covid most agents won't allow you to book viewings until your own property is under offer, it can be sloooow going to get a chain together. If you want to do it, I'd say forget doing the little jobs and get your property on the market right now - that, or look at renting to begin with in the area you're targeting, if that's an option.

Thanks both. Very conscious of the time pressures...seems crazy you have to have sold your house before you even look at anything! We would consider renting but not much comes up in the area...apart from student properties which are not really suitable.

No one will consider any offers unless you are under offer for your own house.
I'm moving for school but its private so nit an issue in terms of catchment area. But its 70 miles away so I am worried about the chain and it all going well for us to move this summer (accepted offer a month ago and put an offer in ten days later for new house). I've accepted we will most likely be in some sort of temporary housing - hopefully where i live now as don't fancy six months renting in London! Plus I have dogs. But that still means chain has to complete (and of course will all want end of June date)!
I'd get your property on now and do the jobs as soon as you can.

Yes, move! Get your jobs done, list your house and see if you can get the move done. If you don't have have a place to move to by end of June (?), then give up. Don't push it to the last second (you don't want to end up moving in November as you will be allocates a place at the bad school, but committed to buy an expensive house in the city centre!)

Thanks for the advice all. Definitely need to just get on with it...I suppose we have nothing to lose by putting it on the market. Wish me luck!

Don’t fret too much about jobs that need doing unless they will affect a survey result. The MN house doctoring is more armchair interior design. Most buyers are interested in the condition of the property, and the space and how to use it.

Thank you, that’s helpful. Going to get some valuations done ASAP.