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All change!

Evening ladies,

I guess this is a fairly pointless post but just need some reassurance (albeit virtual lol) that we're doing the right thing. Bit of background~redundancies were threatened at OH's work about 15 months ago so we made the decision to put the house on the market "just in case" as, in addition to this house, we rent out a couple of houses and knew we'd be up the proverbial poo creek sans paddle if any of the tenants served us with notice. His job is, thankfully, safe for the time being, even got a promotion which is fabulous as it means I've gone back to being a SAHM whilst I train as a childminder. Anyway we left the house on the market, never really thinking that it'd go with the market being what it is but had a viewing at 9am this morning, they rang half an hour after leaving to ask if they could pop back for another look there and then and then went onto make an offer of the lowest amount that we'd be prepared to accept. In an ideal world we'd like another ??5K but know that these (very, very lovely) buyers are stretching themselves already and they're in a brilliant position to buy. I'd been really excited about the prospect of selling but within 5 mins of them leaving after making the offer I was in tears, had very cold feet and a billion sudden doubts about selling a house that I love and that has been our home for the last 2 and a half years with some amazing friends just around the corner. On the flipside it makes massive financial sense, we can clear all our debts thus saving a huge amount on our monthly outgoings which in turn makes us much more financially secure, an appealing prospect in this economic climate. The plan would be that we move into rented until one of our tenant's leases is up then move into that house and either extend it and stay there or sell it and use the equity to put into our "forever house" something I knew this one was never going to be. It's definately a buyer's market so we'll get more house for our money, something that we can grow into. Like most women I guess I see the sentimental side of things whereas OH is more practical and business minded. After (my) umming and ahhing for a couple of hours we rang them and accepted their offer, they were over the moon but I just can't get excited about it. Deep down I know we're doing the right thing but I think I feel guilty for uprooting the kids, mini man's just started and is doing really well at a fantastic school just round the corner but we're both agreed that we'd like our forever house to be in a village about 15 miles away so it'd mean a change of school for him which does worry me. I know that the most important thing is that we're all together, secure, loved and happy but I just feel in a complete quandry, know it's the right move but could easily burst into tears when I think about it (though that could just as easily be caused by the thought of how many bloody boxes we're going to have to pack!) Gah, why does it all have to be so complicated lol?! Sorry to waffle, think I just needed to get it down in black and white! Cheers for getting this far!!! :lol:


  • Hi there
    We have only owned 2 homes. One for 3 years and one for 2 and a half. We sold our last one when we moved here. We now own nothing!! Nada!!! We are seriously looking at buying one here but thats another tale.

    I am rubbish with decisions re finance. My heart rules!

    However, I will try to give you some advice. Yes, its your home and I can see your attached to it. What MAKES a home though are the people in it. You will all be going with it and therefore where ever you lay your hat..etc... Look at the house from the outside. It IS just bricks and mortar. Thats it! If you always planned to move then why not do it now. To clear debts and have that lovely feeling of been FREE is marvellous. When we sold ours to move here we made quite a bit of money as we sold in 2002 when prices were going mad. We paid all our debts, invested a lump and bought a new car when we came here. I felt liberated to have no credit card bills, loans, car loans. I was really happy!

    I am not a financial no it all....totally not my forte! I agree it is a buyers market and you will get more for your money but remember your are getting LESS for the one your are selling. As far as I can see its all swings and roundabouts when it comes to buying and selling. If your price goes down, so does the one your buying and so on! Do you love any of the others that you own enough to live in it, extend it and be happy?? Is it financial sense to rent when you have your own homes rented out? Could you not serve notice on a tennant and then move in sooner rather than later?? Just food for thought!

    The best advice when it comes to finances is to act with your head. Take a bit of notice of your heart as you need to be happy but, ultimately the best decision makers are those who can seperate their personal feelings (ie

    good luck and don't feel like you can't cry and get upset. I cried buckets when I did the last walk around my last home. Memories are made there but they come with you and you will have an exciting time making more in a new home!

    d xxx
  • Your situtation doesn't sound too disimilar to ours. We own two houses (the one we live in plus our old house which we rent out). Our current home is a pretty nice 3 bed Victorian terrace which we've refurbished throughout, but it's near the city centre and we've always had it in our hearts that we'll move somewhere a bit greener one day with a proper garden instead of our city-size patio garden. I can just imagine feeling just like you if we were to move now though as we are really settled here wth lots of friends etc. in the area, good nursery for Samuel and short journey to work for me.

    My personal view is that it is dangerous to get off the housing ladder. I know you'd still have your other two rental properties, but I think you should only sell your main house in the current climate, with supressed prices, if you're also buying in the current climate, with surpressed prices. I'm no financial advisor but my mortgage advisor said this to us recently.

    In my humble view, house prices will only go one way from here and that's up. I don't think they'll suddenly jump up though as nobody is lending properly at the moment. Property prices have risen month on month for the last 5 months though.

    We rang our building society last week about moving and borrowing more money, and the banks are SUPER stingy on how much they'll lend right so we're staying put for another year. We wanted to borrow an extra ??50K or so and they basically told us that they wouldn't even lend us what we already have on our mortgage in the current climate!

    If you do decide to sell, I like Dee's suggestion of serving notice on one of your tennants to avoid lots of moving. The upheaval is a pain so anything that will minimise that must be a good thing.

    I do think though that you'd be kicking yourself if you sold now, wasted money on rent for a year and then realised you would have got more if you'd sat on your place for a bit longer.

    I worry about the school thing too you know. I would like to be in the area we want to stay in when Samuel starts school and I don't know if that's going to happen at the mo.

    Let us know what you decide. I hope I haven't been too negative about the move! J x x x
  • Thanks for replying girls!
    We've taken the plunge and accepted the offer on the house. OH works in the property market so knows the trends and definately has his entire body on the ball when it comes to all things house related. Having had some time to reflect on it and a chat to our FA, it's the right thing for us to do for lots of reasons. It was more about following my head than my heart in the end. Home will be wherever we live, Dee you got that spot on! The tenant in the house that we're going to move into (like you, Jo, it's our old house and only next door but one to where we currently live lol!)is on a fixed contract til March and the buyers want to be in here for Christmas so it's either rent something on a short term let, 6 months max, or move in with the mother in law which, as great as she is, is not happening!! I know the moving's a faff but I just keep telling myself it's a necessary evil and it'll all be worth it in the end. The house that we're moving back to is where all our equity is, even in this market, as we bought it for a song and we're agreed on a 2 year plan of selling it and buying our forever home so, all things being equal, should be in before lil miss starts school and I'm confident that Joe'll adjust well to a new school. We want to move back to where we both grew up and where our families still live. It's not a million miles away from where we are but is a slightly cheaper area than we currently live in so, even taking into account the steadily increasing market, things should balance out on the house front. We're at that limbo stage now, waiting for solicitors and surveyors etc to do their thang. Thanks again ladies.
  • Hey well done! Glad you sound clearer about things now. Sounds like your OH is way more across the housing market than me and my armchair predictions image Hey that's really exciting that you're taking the plunge and really cool that you only have to move two doors away!

    Providing your tenants have been in the house for at least 6 months, I'm pretty sure you can serve notice on them and ask them to leave early. I think you have to give them at least 2 months notice in writing.

    Sounds like you have a really good plan there. Despite owning 2 places, we haven't got a huge amount of equity, so I'm beginning to think we'll never get the house of our dreams. Our terraced house is nice inside, but it's on-street parking, no drive, garage etc. and nowhere safe to play immediately outside the house. I am grateful for what we've got but I can't help think it was so much easier for our parents' generation - to snap up a 4 bed house in a smart area with a nice garden with a mortgage based on one income! Nevermind. At least we're happy x
  • Lol Jo your comment about our parents' generation is sooooo spot on, that is exactly what my parents did!! When I think of our forever house the image that pops into my head is the house I grew up in. Mum and dad bought it when me and my brother were 2 and 3 and lived there til we'd flown the nest some 22 years later! That's what I want for us, wonder if it's for sale!!!!!!
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