So potential dream house came on the market, I say potential because it needs alot of work, old kitchen, old boiler, servicable bathroom but it is livable. Detatched, South facing garden still in the catchment of the school I want, (10mins walk away from where I am now) potential to one day have a lovely big kitchen diner extension without compromising the garden. It definitely has the potential to be our forever home.
Now here's the dilemma, we have a small house mortgage free, I have a 2 year old and I quit my job last year to try and start my own business whilst also pretty much being a full time SAHM. Toddler goes to nursery twice a week so I can get on.
We can get a mortgage that will probably cover the difference between our house and dream house £250k on my husbands £53k salary but £1200 mortgage plus extra council tax and energy costs will make things very tight.
We also currently have a neighbour that's turned into a bit of a nightmare since lockdown. We mostly just ignore but he makes us very uncomfortable now.
So what would you do? We would be absolutley maxxed out mortgage wise and couldn't afford any big renovations/extension apart from superficially tarting it up until my business either takes off or I go back to my old career when my son goes to school.
Or should we stick to the original plan of being debt free and having a bit of spare cash even though we only have one salary (in the short term) also slightly shitting myself there'll be a housing crash and should wait a couple of years before making a move when we are more financially comfortable and son starts primary school.
This is up North btw.