How is anyone affording to move right now?

[LifeisHard73]

We want to move, it’s just 2 of us but we want more useable downstairs space, eg big kitchen diner with room for a sofa, bifolds to garden etc. We need a garage and parking as currently we only have street parking. Oh and our neighbours are really noisy and their cat is an arsehole so we want detached! But I can’t believe the cost of taking on an extra 100-150k mortgage and I wonder how on earth anyone is affording to do this? We’re in the SE and our house is worth 400k, our perfect hse is on for 550k ( we would offer less), but it needs renovation inside so perhaps 100k needed for that.

Should we go for it or hold our horses for a rate decrease after the election? Obviously the house I mentioned will be long gone.

We are moving and will cutback hugely on holidays and spending for 2 years

But the house is a long term investment for our future so sacrificing a few holidays isnt a big deal

@LifeisHard73 i agree with you, moving is so expensive. We want to move as well so we can have an extra bedroom and larger garage but to get that we need a house worth at least £500k. Our quality of life at the moment is pretty good and it’s frustrating that you can’t have both. I know what people on here are saying about not being able to afford the house then and to be happy with what you have and they are right but houses are so expensive now that it’s a wonder anyone can afford them. Plus don’t get me started on stamp duty!

Stamp duty is just another tax, what’s it even for. The idea of the seller paying stamp duty is at least fairer than the current system. I don’t think another holiday is a good idea as last time this just pushed up the prices of houses.

I think we’re gonna bite the bullet. OH is writing his masters dissertation currently & once that’s done end of May we will do a few diy bits and put it on the market. Then as others have said we will cut back on holidays for a while ( we’re getting dog anyway so life is basically over 😂)…

like you we need to spend 500-600k to make it worthwhile.