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Original poster

How do you buy in a cheaper area?

31 replies

RagzRebooted · 06/04/2022 19:24

We are hoping to be in a position to buy in the next few years. Landlord would like to sell us the house we're renting and obviously that would be ideal, but I am pretty sure it will be out of our budget. We're in the south east. Realistically, we need to move quite far away if we want to buy. What I don't understand, is how does this work? It's always suggested on here as the solution.

So, we would both have jobs here. If we wanted a mortgage it would be based on our income from our current jobs. So then if we want to buy 300 miles away, we'd obviously need to find jobs there and then the mortgage would not apply any more? How does it work? What do you do first?
Or do you have to pick an area, rent and work for a year and then buy? Hoping that you'd find somewhere near enough to the schools/colleges your children had settled in.

How do people buy houses on the other side of the country?

OP posts:
Ops1 · 06/04/2022 19:28

How different would your salary be in another area? You do need to declare any expected drop in salary when going through mortgage applications, so likely move to where you want to be and settle close to new job and schools while renting is the answer
Would rent be cheaper where you will move to?

Obelisk · 06/04/2022 19:30

Could you not find somewhere cheaper and commute to your existing job? Even within the SE there are cheaper areas.

Original poster
RagzRebooted · 06/04/2022 19:32

I expect rent would be cheaper than it is here, if property is cheaper but it would not be cheaper than our current rent which is low for the area as we've been here 10 years and it's only gone up once. Also needs a lot of work (kitchen and bathroom both on last legs).
Salary would be pretty much the same, I'm a nurse and DH is retraining as an HGV driver.
Would wait until DCs leave home, but I ideally want to buy before I'm 40!

OP posts:
Original poster
RagzRebooted · 06/04/2022 19:35

I worked out using calculators online that we could afford around £250k. We have 3 DCs so need 3 bedrooms. DH reckons we will get this house for that, but I am trying to be realistic and look at other options.

OP posts:
hypaingea · 06/04/2022 19:38

Well it's generally harder than people suggest because as you say people are tied to jobs & commuting is £££. Depending on jobs it can work though. I know doctors & teachers who have found jobs elsewhere & bought there.

OohRahhMaki123 · 06/04/2022 19:53

We first found jobs whilst we rented for 6 months in the cheaper area (Cotswolds to Scotland).

By that time we could get to know a few people and make sure we actually would be happy to settle there. We also had a better idea of what neighbourhoods we wanted to buy in.

HappydaysArehere · 06/04/2022 20:00

My grandson and his Girl friend have been trying to buy their first property for the last couple of years after saving for 5 years. We are living in the outer part of London and they had a £350,000 budget. This last year or so has been hard for potential buyers. In the end they explored the Government help to buy scheme available to first time buyers. So now they are hoping to move into a new build .

Dixiechickonhols · 06/04/2022 20:45

I think get jobs move and rent. Then you can see if like area and suss out best areas to buy.

Somanyquestions1984 · 06/04/2022 20:57

Where are you now- there are decent places (not many though) in the South East where you can get 3 beds close to that.

Original poster
RagzRebooted · 07/04/2022 18:45

@Somanyquestions1984

Where are you now- there are decent places (not many though) in the South East where you can get 3 beds close to that.
East Sussex. But if we had to move DCs schools and stuff anyway, I'd be tempted to move further away where costs are lower anyway for their benefit in the future.
OP posts:
Nothappyatwork · 08/04/2022 09:01

@RagzRebooted

I expect rent would be cheaper than it is here, if property is cheaper but it would not be cheaper than our current rent which is low for the area as we've been here 10 years and it's only gone up once. Also needs a lot of work (kitchen and bathroom both on last legs). Salary would be pretty much the same, I'm a nurse and DH is retraining as an HGV driver. Would wait until DCs leave home, but I ideally want to buy before I'm 40!
My advice then if you’ve got a 25% deposit would be to buy sooner rather than later and rent it out until you’re ready to move into it. At least then you’re buying today’s prices have secured the number. You can move into any time you like afterwards.
HPandTheNeverEndingBedtime · 08/04/2022 09:08

My parents did a 200 mile move when I was a child, my dad stayed on at his old job and stayed with his parents Mon-Fri then came home to us for the weekend until he found a job in our new area, my mum had been a SAHM at the time which made this doable.

EmmaGrundyForPM · 08/04/2022 09:12

If you change job, you might not be able to get a mortgage at first. I got a new, higher paying job so we decided to extend the mortgage and build an extension. My salary couldn't be taken into account as I was in my 6 month probationary period.

hazelnutlatte · 08/04/2022 09:15

A nurse and a HGV driver shouldn't find it difficult to find work anywhere - I'd suggest you look for a job in the area you want to live in first, once you have a job offer then look for a house to buy (or rent for 6 months if you're not sure you want to fully commit to the area).
The wheels of NHS admin turn very slowly, plus nurses are in high demand so you should be able to negotiate a delay between job offer and start date.
Your DH can find a job closer to moving date -I know several HGV drivers and they can walk into a job interview and start practically the next day!

candlesandpitchforks · 08/04/2022 10:17

@RagzRebooted so re the location your looking at

Brighton or any of the surround areas are a - you will be hard pressed to find a 3 bed for that money.
Eastbourne - you might find houses in the seaside/hamden park area area but not many and it will be a fixer upper with not a lot of garden
Bexhill - you will get more for your buck in terms of space and garden but is kinda in middle of sticks and not a massive to do in terms of shopping unless you go to Hastings or Eastbourne
Hastings - the old town is lovely but more expensive. The town it's self is quite deprived so prices are low for a fairly good reason.

I would hedge your bets on Eastbourne- personally but houses go fast to prepare for that.

Jarstastic · 08/04/2022 10:30

Whereabouts in East Sussex are you and what sort of budget may you have?

In regards to buying your current rented property, your landlord may be more flexible than you think with an offer direct (no agency fee) plus conditional on you paying rent until you purchase. avoids risk of a void period.

Original poster
RagzRebooted · 09/04/2022 22:20

@Nothappyatwork nowhere near 25% deposit, we're nearly at 5%! But possibly able to get another 5-10% from family, however I had hoped we could get a 95% mortgage, but that's not looking so good with the economy right now.

Looking at houses in Shropshire, which is one area we considered and we could get a 4 bed for £250k!

OP posts:
TheLadyDIdGood · 10/04/2022 06:26

Have you recently looked at houses for sale or that have sold in your local area? This would give you an idea as to whether you can afford to buy there or need to move away. Look at the pros and cons of staying and relocating to give you an idea of what would work best for you.

PriamFarrl · 10/04/2022 06:55

I get what you mean. How do you move jobs and house and schools all at once and to a town hundreds of miles away.

We did it about 20 years ago. We found a town we liked and was affordable and then applied for loads of jobs. As soon as one of us had something lined up that allowed us to rent an affordable place we moved, found our feet, DH found a job.
After 6 months we had worked out the areas we wanted to live in and bought a house.

But that was 20 years ago with no DC.

GnomeDePlume · 10/04/2022 07:28

I live in Northamptonshire. Property prices are relatively low. But there are reasons for this. Salaries tend to be low. Schools aren't great. The health provision isn't great. Public transport is poor. It is something to keep in mind when looking at areas.

Wartywart · 10/04/2022 08:13

A couple I know did this 20 years ago - with dc aged 2 and 4, moved to the East Midlands. Rented, got jobs, then bought a year later. Very happy there now.

Another couple did it about 3 years ago - were renting in South East, with zero chance of affording to buy a house. They bought in Devon - I think they told the mortgage company they would commute initially to their South East jobs and stay with family during the week. Which they did, until they got jobs in Devon.

RidingMyBike · 10/04/2022 09:00

We've just done this. I imagine it would be easier for you as you both have in demand jobs. Mine is rather niche (think 2-3 suitable jobs advertised per year over entire U.K.!). We waited for me to get a job in cheaper area, moved into rented there (this cost a lot more than we anticipated and it was hard to find somewhere). DH was offered a switch to totally WFH in new location but opted for early retirement instead. Once we had rental address could apply for school in area. Put house on market, moved to new area, old house sold (you won't have this step!).

Used renting in new area to get much better idea of areas etc. Now underway with purchase. I have permanent job in new area so mortgage not a problem although we have a lot of equity which probably helped!

Ealaigh · 11/04/2022 09:57

We moved from London to somewhere much cheaper. I got a job first, one where I earned enough to support the family. DH found a job (took a pay cut) afterwards but we had already decided to move. Found a rental in the area, sold in London. Got AIP immediately, found schools for kids. Put offer in for new house in new area after 4 months, just moved in. It’s been an incredibly stressful time!

hooplahoop · 12/04/2022 18:26

It’s tricky isn’t it . If affordable I think renting in a new area , getting local jobs and then buying is a sensible way. That way you also get more local knowledge of what areas of the towns you’d like to live in, catchment for schools , areas to avoid !