Are you thinking of selling when your mortgage term expires?
We bought a bigger home in the summer of 2020, as we felt we had outgrown our home, however in reality whilst we had kids sharing a bedroom, our perception of having a lack of space was skewed by the fact we were all at home, all day, everyday. We also felt we could afford the increase in mortgage payments as we (two parent household) were extremely fortunate to keep working during the pandemic but, during lockdown we had no where to spend our cash after bills were paid. And then of course there was the stamp duty holiday.
Now life in more or less back to normal and we are out of the house more and spending more money on leisure activities, I’m thinking of downsizing, particularly if the interests rates stay as they are.
I imagine there are several people in a similar situation but there doesn’t appear to be anything reported in the press so I thought I would ask on here.
So if it weren’t for the pandemic would you have moved to a bigger house? And, do you plan on selling it any time soon?