We overpaid a little, but not a lot. We did the place up, it looked great, but I hated it. I absolutely hated it from the second we moved in. I felt isolated, lost and completely and utterly cut off. Yes it was just 20 miles, but it could have been a world away. I started to feel depressed even being there, and used to drive past my old house so wishing I could press rewind.
In the end, we decided to move, and ended up taking an offer on the place just to get out of there - as I could not stand it, I kept having nightmares and I had small children. It was not good. All in all includingh the cost of the renovation and selling it for less, we lost 220,000.....
I know.....and for those saying you should ride it out. I tried and I couldn't. I have to live with the fact that I KNEW on some level this was a bad move, I may not have been able to pinpoint the reason but I knew it was wrong for us. We lost the money, a huge sum, I have to live with that now and move on. I will never ignore that instinct again, and since I know listen to myself the mistakes have stopped. You must do what is right for you, and work out if this is wobbles or real deep seated reservations.
You can always find a new house in time, if this one is not right but the reasons for moving are still there, area, family and friendships are really essential for some people and far more important than house size when you have infants and small children.
I had to share my experience, because moving house is so expensive and so unsettling, it should never be taken lightly 'oh you can just move again in a few years' have they considered the moving costs are huge. Most people can not afford to flippantly move from house to house on a whim. There are baked in costs, and they could be high.