Page 3 | How to decide to move if you don’t NEED to

UnknownDecisions · 2023-04-20T19:00:18+00:00

Changed name to hide history. WWYD - first house, has lots of compromises (nothing is terrible but nothing is perfect). would you move and take on the risk of a much bigger mortgage for a better house (which might still need work) that still doesn’t give you everything you want (‘dream house’ in the area is out of reach and we don’t want to buy a shell to renovate). Based on some recent listings: Things we would get - DETACHED!! (our neighbours are noisy but not terrible. nothing like some of the horror stories we’ve read) - larger rooms - maybe a garage - downstairs toilet things we want but wouldn’t get: - second bathroom - utility - Large south facing garden - big kitchen diner info- combined income: 95k, fairly secure jobs ages: 35, no plan to have children current mortgage: 60k (will be mortgage free in less than 5years) New mortgage approx: 300-350k (depending on what the house sells for and cost of new house)

Original poster

UnknownDecisions · 21/04/2023 16:12

@Wanttomove3000 we hadn’t considered this. Thanks. a larger 3 bed semi that has enough inside space to properly sound proof (we can’t add take any more internal space from the rooms here) might work. There are loads of larger 3 semi’s in the area with space for a garage/ space for a utlity. And it wouldn’t add too much to the mortgage.

OP posts:

ReplGirl · 22/04/2023 17:39

UnknownDecisions · 21/04/2023 16:09

Thanks everyone. It’s such a good mix of opinions.

we’re generally not materialistic people but see so many of our friends and relatives having really lovely houses and do get jealous.

to those who said ‘life’s short’, we’re really torn with how to view this. On one hand, life is short, and I had a really bad health scare so we should go and do as much as we can instead of worrying about the house

but on the other, we are at home more and because I make less money, we’ll probably be working longer and travelling less, so why not put the money into a nicer house…

my health problems are better but I’m not the same as I was before(hence change of job and lower salary). I’m now able to work and make an average salary but I do worry that things can take a turn for the worse again and I wouldn’t even be able to do that.

he’s really easy going, and says we can make the best of whichever option.

Based on this and your earlier messages I don't think you should go for it. Maybe as PP have said get a bigger semi.

I also don't understand why you'll be 'working longer' if you're going to be mortgage free by 40. Despite earning less you still have a very healthy combined income. With no mortgage you can clear savings of at least 3K a month between you, which is 36K by the time you're 50.

Maybe you dreamt of having a lot more, and being able to travel around the world. You might have to downgrade to just having enough to live with some treats. But you're certainly not going to have to work till you drop.

ReplGirl · 22/04/2023 17:39

*360K of course

Original poster

UnknownDecisions · 22/04/2023 17:47

ReplGirl · 22/04/2023 17:39

Based on this and your earlier messages I don't think you should go for it. Maybe as PP have said get a bigger semi.

I also don't understand why you'll be 'working longer' if you're going to be mortgage free by 40. Despite earning less you still have a very healthy combined income. With no mortgage you can clear savings of at least 3K a month between you, which is 36K by the time you're 50.

Maybe you dreamt of having a lot more, and being able to travel around the world. You might have to downgrade to just having enough to live with some treats. But you're certainly not going to have to work till you drop.

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my pension pot is quite small because of the time off I had and not being too smart with it early on.

your last paragraph is probably correct. I think we planned/ expected a lot more. Right now it feels like we only have two choices - massive mortgage and no disposable income, or tiny house and some money.

OP posts:

ReplGirl · 22/04/2023 18:12

UnknownDecisions · 22/04/2023 17:47

my pension pot is quite small because of the time off I had and not being too smart with it early on.

your last paragraph is probably correct. I think we planned/ expected a lot more. Right now it feels like we only have two choices - massive mortgage and no disposable income, or tiny house and some money.

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Fair enough.
To be honest detached is quite a stretch in general - there aren't many to begin with, in most areas (unless you're very rural or similar).
It also depends on which parts of the house are joined.

We have a 'corner' semi. As in all the other houses are semis with only a car's width between them but we're the last and so have a little lane between us and the next house. We have every single one of the things you listed. And the bit joined to the neighbour is the lounge/dining, and upstairs bathroom + one other massive room that's quite big. So possible to soundproof and not really affected by noise.

Around here 'detached' with similar size and features would fetch close to a 100K price premium for little discernible benefit. There are smaller detached at a similar or lower price but they don't have much more space so it's a waste IMO.

I'm sure you can work something out

ReplGirl · 22/04/2023 18:15

Also to add I'm just saying this to provide some context - usually detached is not just about the lack of neighbours but the size, having a larger footprint.
However even in a row of 'smaller' semis there could be one or two larger ones like ours, that might meet your needs but without the hefty price tag.

The downside is that while we have room to extend it's not worth doing so given the 'ceiling price' of the street. But we have more than enough space already.

Original poster

UnknownDecisions · 22/04/2023 18:19

ReplGirl · 22/04/2023 18:15

Also to add I'm just saying this to provide some context - usually detached is not just about the lack of neighbours but the size, having a larger footprint.
However even in a row of 'smaller' semis there could be one or two larger ones like ours, that might meet your needs but without the hefty price tag.

The downside is that while we have room to extend it's not worth doing so given the 'ceiling price' of the street. But we have more than enough space already.

I think that’s the problem. There isn’t a lot of option with detached houses. The only ones in the area also have MUCH larger footprints and so come with a 100k premium for detached, and then another 100k for the size, and then another 50k because they’re rare.

(Values are completely made up 😂)

OP posts:

ReplGirl · 22/04/2023 18:38

UnknownDecisions · 22/04/2023 18:19

I think that’s the problem. There isn’t a lot of option with detached houses. The only ones in the area also have MUCH larger footprints and so come with a 100k premium for detached, and then another 100k for the size, and then another 50k because they’re rare.

(Values are completely made up 😂)

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Yes, I think that's quite common.

It's similar here. The 'smaller' detached are new builds. Them being detached doesn't make up for their smaller footprint and flimsy construction (the walls are very thin even between rooms!) compared to semis at the same price point.
The 'proper' (what I call it) detached are all round luxury houses with big gardens, parking for at least 3 cars, big kitchen, gates, etc.

Personally I think it's a balance. A large house looks great on paper but costs a lot more. Cleaning, garden etc maintenance, heating.

It's possible to soundproof adjoining walls to a very high standard but that depends on the construction of the house.