should i stay or should i go ?

[elmofan]

hi , I'm putting this question to the wise people on mumsnet

our house is currently up for sale , the houses we are hoping to move to are very expensive , the ones in our price range are mostly fixer uppers iykwim , which is not a problem as Dh is great at refurbishing etc ,we are just getting to a stage with our current house where life has become comfortable , but the new area will be within walking distance to where the dc's go to school & 10 mins walk to a lovely beach whereas where we are now i have to drive as we are not even on any bus routes to their school .
so what do you all think
move = money will be very tight for the first few years & big mortgage . OR stay & enjoy having more money in our pockets .
most of the dc's friends live near the school so that is why we are thinking of moving .

go

we are in the process of moving and have had a similar dilema - bigger mortgage and less money in our pockets or stick with a similar mortgage and choose another location.

We cld have bought a house that was repossessed in a very affluent area for about £50,000 less than the houses in the area but it meant doubling or our mortage (which we could afford but have less money in our pockets). We have decided though that we enjoy our two holidays away as well as our weekends, at the moment ds gets to have treats often and we can go out for nice meals etc. We decided to compromise and look for something in between only increasing our mortgage a little. i don't think i could give up my luxuries for the sake of having a big house in a very good area when my wage doesn't allow it and carry on the way we are. i used to want a big nice house in the best area in town but now that ds has come along and we have money to spend as and when we like (within reason) my views have changed, i would much rather give ds a better childhood by going on holidays and days out rather than having to work all the hours to pay the bills and end up neglecting my ds.

I think you need to think about exactly what you will be giving up and whether or not you can do so.

Obviously if you are buying a fixer upper then you could always sell it and down size after a couple of years and reduce your mortgage again.

thanks zombiewoman

nervous about having a big mortgage again though , but moving would definitely mean a better life for the dc's .

thanks DLI ,

if we move we will be doubling our currant mortgage which will make things tight for a few years but the dc's will be able to see their friends & could walk to school . my eldest dc (11) gets bullied where we live now & therefore does not go out to play here . i am ASAH mum ATM .

you could get a part time job if money got too tight, i work four days a week and my ds has special needs so i don't have any other way of earning any more money if we needed it. If you are willing to get a part/full time job at some point if needed then go for it, you have to do whats best for you dc's and if moving and making a few sacrifices yourself means they get a better lifestyle then why not

yes DLI , i might be able to go back to work part time in Sept as my youngest is starting school then , i am both terrified & excited at the same time ,
it would be great for the dc's as my eldest is due to start secondary school Sept 2011 so would be especially good for him .

I'd say go based purely on the bullying and also the walking to the beach and the school bit.

thanks fizzylemonade ,

Could you go and not increase the mortgage quite so much ?
Where we live we are 15 mins from the beach and a bus ride from the school I want for DD1, if we were in walking distance from both our mortgage would be another £100k.
So we are close but not that close.

hi millymollymoo , unfortunately no , where we live now its a 10 mile drive to the dc's school which is in the next village , we would like to buy a house thats only a few minutes walk from their school but that will mean borrowing 2 & 1/2 times the mortgage we have now , which is very scary considering dh is the only one working , but maybe i could go back to work part time in sept when my youngest starts school .