HELP! Do we take the jump…

[Lott2606]

Sorry, it’s a long one.
My husband has found a house he loves, it is a bigger property with a huge garden. We currently live in a large 3 bed, however garden is quite small. To move to said bigger house will DOUBLE our mortgage payments. We are currently paying £800 over 21 years, this will double our payments to £1600 over 30 years. It’s doable, and with all food and bills taken into account we will have roughly £1000 disposable income left.
HOWEVER

1. there are some alterations that we will need to do.
2. although the garden is big, you cannot see it fully from the house with our daughter playing.
3. I am starting a new job in the next month or too, I’m worried if I don’t like the job I’m stuck because of mortgage payments.
4. we do ideally want another baby in next couple of years, we will be pushed on maternity leave.

my husband works away usually Monday - Friday and I work full time 9-5.

opinions if we are jumping for the sake of it and should wait maybe or? ….

I’d say go for it. You still have disposable income. One would expect you should get payrise with time.
are the alterations necessary or can they wait? Is the garden secure? A lot of people are stuck in a job they dislike to afford the life they desire.
do you love it??

Why actual benefits would a bigger house and garden bring to your life?
Do you need extra rooms or more garden, or are they just nice to have?
Are they £800/month worth?
Sounds to me that your working lives are stressful enough without the pressure of a massive mortgage to pay.

Yes, the garden is secure.
sadly I’m not madly in love with it 🙃

If you’re not in love with it dont do it

I have to agree with everything you’re saying. I will add our current house does need about £30k worth of “up keep” work to be done on it

My husband and I have been looking to move for some time. We both have different approaches to risk and reward which causes some issues. There has been a house in the past that weve missed out it due to his reservations and in hindsight he admits it was a mistake. But ultimately unless you both love the property there’s no point in taking it on.

If your H is only home at weekends, I think you need a house that’s easy to manage by yourself, so smaller the better and no renovations.

Interesting, this seems to be us. I am very “if buts and maybes” where as husband is “you gotta crack an egg to make an omelette kinda guy” ….. I would hate to think he misses out on this dream of his because of my worry ……

Good point in currently WFH 3 days a week and juggling all drop offs and pick ups to school. Soon I’ll be in office 5 days a week 😬

Is your husband a very keen gardener ?

I don’t think you neee to think like that, it’s wonderful you do, but I also think “I don’t want to put him under stress he doesn’t think he can handle “
You’re obviously concerned of the financial side of things so you need to find some middle ground. Work out your priorities and his.
I don’t think I can help much as currently in a similar situation but other way round!

Loves being out doors … fixing things and planting things

A big house with a huge garden for £1600 sounds like an absolute bargain but I pay that for a two bed flat on my own without kids. Wouldn't have the time for gardening anyway...

Erm £1000 disposable income on Mumsnet always sounds a lot but what does that cover - is it after essential bills only? What about socialising, car repairs, holidays, Xmas shopping, dentist, hair cuts , clothes, school trips? It soon goes.

Sorry, that's not helpful!

That is with everything covered …. Other than savings ….

I think you both have to want to move and find a house to both really like. This house doesn’t sound like the one for you if you don’t love it.

It doesn't sound like you lack space in the house so this seems to be mainly about the garden. I confess I am not particularly a garden person so the idea of a massive one doesn't greatly sway me. Are you (collectively) genuinely prepared to put in the amount of time and effort it'll take to keep it nice? And, while you have young enough children to need eyes on them, are you willing to go be outside every time they want to - or can you somehow contain a smaller part of the garden to keep them in view?

If you actually genuinely feel that having more garden space is important enough to warrant that big a jump in mortgage then go for it, but do fully think through whether you're going to get that level of use and value from it in the time you're at home.

What is it once you set aside a reasonable monthly sum to go into savings? (Not necessarily asking you to tell us, just suggesting you think about it!)

I think you do have to love the house to make a jump like this feel good. It doesn’t need to be perfect or but at least it should make you feel excited to imagine living there. Every time I’ve moved house, when we have eventually found the right one it has had that ‘no-brainer’ feel to it even where there are compromises and work to be done. I’d keep looking…

I'm concerned you're doing this for his dream. A house definitely needs to be a joint dream or it becomes a nightmare!!!

I think I was wrong to say I don’t love the house. It is beautiful and has so much potential. He has moved his whole life to my hometown so I am so glad he has found a forever for our family. I think I’m more worried of the money side of things but I think it’s because I’m a big saver. But what’s the point in saving and not having things in life?

No I would not do this. I'm a very decisive and action first type of person but on decisions this big I would think very very carefully. Being trapped by big mortgage is not fun and if you're going to double your payments I think you both have to really want the house and love it. £1k disposable is really not that much (especially if the house and garden need investment).

I’d be concerned about the 30 yr term & how much in interest you would be paying. How will you juggle 2 dc & 5 days in the office particularly when they are in school?

' I will add our current house does need about £30k worth of “up keep” work to be done on it '

and have you taken that into account when thinking of the price you will put it on the market ?

why has this happened ? could you not have spent the time / money on the ' up keep ' ? how will you manage ' there are some alterations that we will need to do ' on the new property and manage the much larger garden ?

It’s more due to the age, new kitchen & bathroom needed. We have actually done a hell of a lot to the property and have made £100k in equity on it 😃

i have to juggle this regardless, I work full time. Not just term time.