So the backstory is: I bought my first house in August 2024. Just two months later, I met my current boyfriend (typical). He had just gone through a divorce and owned his own house, which he bought in 2019. For context, he bought out his ex wife when they split up. My plan was always to keep my house and rent it out if I met someone. I didn’t expect it to happen so soon though.
We have been together for almost a year, and he recently proposed the idea of buying a house together. I was caught off guard, but he mentioned that he’s not feeling happy in his current home anymore, it doesn’t feel like his and he wants a fresh start with me. Plus, we both want kids eventually, so he thinks we should start planning our future. I told him I wasn’t sure and that I’d need to really think things through first and also speak to a mortgage advisor.
I bought my house when prices were sky high, and I’ve also put nearly 10k into fixing various things. If I sold, it would definitely be at a loss. Additionally, I’m not sure if my income is sufficient to qualify for two mortgages or a buy to let. He mentioned that if I wanted to proceed, he would cover the deposit for the new house (I’d still be on the mortgage and pay my share of the bills) and he would then have a stake in my current house.
Honestly, I feel a bit overwhelmed. Is this all happening too fast? Is it too complicated? Should we both hold off for a little while until our (or at least mine) financial circumstances improve? For context, we’re both 30, but he makes more than I do (he’s at 40k, I’m at 28k), although I have more in savings. It may be worth noting that my house is also valued higher since we live in different areas. He can’t sell his house and move in with me due to work.
I’m out of my depth here so any advice would be appreciated.