Moving to a bigger house but less ideal location?

[gratedcheeseandham]

Me and DH bought a 3 bed (2 and a box room) semi detached in a market town last November. It’s directly next to a high street, 10 min walk from train station with fast links into London and great local schools for both primary and secondary. Mortgage is 30% of our combined take home income. We quickly found out I was pregnant and DS is 4 months old. We are new to the town but have found friends through NCT groups, have secured a place with a childminder for when I return to work as a teacher in April and love the area.

An opportunity has come up to move opposite my parents in their 3 bed detached house which is about 4x the size of our current house (old farmhouse) and about double the value. There is lots of space to expand. We would be paying my parents rent for the same amount as our mortgage but with bills & council tax included. However, it’s in the sticks. You have to drive EVERYWHERE as the nearest town is 3+ miles away and there are no footpaths. There are good schools around and we would get free childcare at a nursery that my mum owns, which we wouldn’t get in our current house as we live an hour away, as well as more of a chance at a place at a top performing private school. My parents would also live opposite us and so my child(ren) will become very close to their grandparents. However, this house is back near the town where I grew up and I feel a bit cabin fevery when I visit.

There are of course a few options, such as renting out our current house, but we would have to get permission from our lender and we don’t own 25%. We could sell, but then I feel like I’m taking a step backwards as we would be renting again.

At the moment I love being able to just walk out the door and be in the supermarket in 5 minutes, or walk down and get the train into London. But is it worth paying for childcare and a smaller house?

DH is 100% remote so no commute but needs access to an airport as he travels. We currently live about 30 mins from a big airport, the other house is about 15 mins away from another big airport. I was looking at moving schools anyway, but not sure what to do!

Who owns the house opposite your parents?

When you say you don’t own 25%, who does?

Sorry I’m confused. Do your parents own the home you might be looking to move to?
you talk about rent so a bit confused

It sounds like you are happy where you are and the long term security that comes from gradually buying your own home is important. I would say thanks but no thanks in your shoes

They own the house opposite them.

We own a house, but don’t have 25% equity yet as only put a 10% deposit down and bought it last year

I would stay where you are

Your house is plenty big enough for you and the location works.

Marooned where your parents live in 5, 8, 12 years doesn’t sound as if it would work at all.

Stay on the property ladder.

Stay where you are. In my opinion nothing beats convenience.

I think living in a house opposite your parents that they own and sending your child to a nursery that your mum runs sounds a bit too much for me I don't think I would like being that reliant on them. Stay where you are!

Your house right now sounds so ideal. I’ve said this loads lately but I don’t get that people think more cleaning is more ideal if it comes with higher costs of travel, commuting and the inability to walk places. It’s also tough when they’re in school and you need the car all the time and they’re teens and can’t walk home without possibly being knocked down

I’d stay where you are for a few years and then reevaluate when you are not paying nursery fees and in a position to rent out your current property.

if you do have more children I’d wait until they are also school age.

it doesn’t sound right for you now and you don’t sound that enthusiastic over the set up other than size of property and free childcare. IMO they aren’t big enough reasons and location always trumps them.

I wouldn't consider this for a minute.

You sound like you love where you live.

It sounds incredibly claustrophobic living in the middle of nowhere opposite your parents.

Stay where you are, don't start going backwards. And definitely don't put your loife in your parents hands.......could be a big mistake. If you feel cabin fevery when you go back to visit, imagine living there. Sounds like a big no no to me.

Stay where you are for now. You may revisit that decision in due course but you are successfully navigating a new life and it might be foolish to give it up now.

What happens if anything happens your parents, they loose money and have to sell or you fall out. It’s all a bit being too dependent on your parents.

Definitely stay where you are. I can’t think of anything worse than being so isolated.

You’re very happy where you are. So I can’t think why you’d be considering moving other than more space and lower outgoings.

for me, the negatives (isolation, new start socially, reliance on car, new job, etc) far outweigh any positives.

Our quality of life was hugely improved by having nursery and school gate friends within walking distance, the primary school within walking distance.

You would be swapping a mortgage and building up equity for rental payments - money gone.

It will be such a drag having to drive everywhere, and I don't think it is good for kids to grow up entirely dependent on MumAndDadTaxi.

And by the time they are teens and you are doing the Friday and Saturday runs at all hours to pick them up from parties it will be too late to get back on the property ladder.