Cheaper (very)small house or more expensive

[Clappedoutvolvo]

Hi all


Apologies if this is a bit waffly, things are getting a bit stressful in the clappedoutvolvo house at the moment.

We sold our house a while back and we were on track to move to a bigger place in preparation for starting a family.

It fell through a few days after we found out we're expecting our first child. Of course it did... the place we were buying didn't want to wait for us (our buyer sadly passed away) so put theirs straight back on the market. Bad decision IMO as they've had no interest and weve had an offer on ours already, pretty quickly.

I'm starting to think we should strongly consider staying put for a couple of years - if it falls through again it'll be very stressful, and we will be less financially prepared for everything (I took a perm job I don't like much to get the mortgage sorted but I usually earn much more as a freelancer).. plus the uncertainty with rates. I don't want to mess anyone about obviously but it's very early in the process as everything is being restarted.

It's not something I can discuss with family and friends as we haven't told anyone our personal situation as its very early days - no one knows me here so thought it would be good to get some helpful advice.

It's worth mentioning, our house is very small and old (expensive to keep warm), only has a shower room so would potentially have to have the bathroom done which is fine.. but the spare room is tiny. And we have a lively idiot dog running around too.

The difference in mortgage would be around £400pcm so not inconsiderable - may mean other half will have to go back to work sooner than we might like even if its just part time.

Any sage words of wisdom either way based on personal experiences, are we better off having extra cash or extra space in this situation?

On the one hand, we will be cramped and have to do a bit of work to our place, but I can crack on as a freelancer bringing in plenty of money and save 400 on the mortgage.

On the other, suitable family home for years to come but tighter financially, uncertainty in the market with rates/prices etc, bigger bills.

[LordHaveMurci]

Better to regret what you did do, than what you didn’t do.

[PositronicRay]

Just to counter that 'if in doubt do nought'


Personally I'd wait a bit till more settled. Babies don't have to take up much space, it's all the unnecessary paraphernalia.

Edited by PositronicRay on Thursday 1st June 09:11

[Edible Roadkill]

Upwards & onwards, I reckon if you don’t take the plunge now it’ll forever be a burning issue and one you have to address in the coming years.

Are you planning more than one child?

Sounds like you’ve already outgrown the current place so once kids join the household it’ll only get worse.

[alscar]

Firstly congratulations.
What does your wife / partner think ?
Your post reads to me as though you are possibly still keen to move now.
It will be stressful either way.
Providing you could find and move in before say the 7 months period then it would be tempting to say do it.
Moving with a new baby might be more stressful.
All depends on is the existing house with some alteration going to work for the next say 3 years ?
Good luck in your deliberations.

[gotoPzero]

As life progresses it almost always becomes harder, more of a chore, more faff.

Nothing is ever cheaper, easier or more relaxing than it used to be.

So I vote for move. Do it now and look back in 2-3 years on how you would really me pulling your hair out to move..

Thats my view anyway.

[Mr Pointy]

Is making a lower offer on the original house an option? You liked it once, is it good enough to go for it again?

One thing to bear in mind is that getting a mortgage as a permie is easier than getting one as a freelancer. Consider getting a mortgage now & going freelance again once you are settled in.

[boyse7en]

I'd say move now if you can.
Babies are (relatively) cheap to run, they start getting more expensive as they go along so that £400 saving could easily end up being used for other things, meaning you will have no "spare" cash available to increase the mortgage in the future.

The extra space is largely irrelevant as children and associated stuff will simply multiply to fill any available volume

[okgo]

Move.

We moved and got into the place that needed renovation when my wife was 6 months pregnant. Renovations were completed 2 weeks before birth.

Cannot possibly imagine much worse than trying to move with a small child. The upset to routine, the stress of feeding, naps, all their stuff that you probably don’t have clogging up the place yet. I would move.

We moved from a spacious 1 bed flat to a 5 bedroom house. And I cannot imagine how I’d have lived with all the crying and noise and such in such a small place. Being able to put my son (now nearly 3) for a nap if he wants one 2 floors away from us is the best.

[BoRED S2upid]

You will be astonished how much stuff a tiny child can accumulate. If you can afford it move now. Your priorities and spending changes when kids come along.

[Car bon]

We moved twice when my wife was 8 months pregnant - we didn't have a third child

It worked out well for us - so my advice would be to go for it.

[Mr Overheads]

Move now while you've got a perm job, easier to get a mortgage at a fairer percentage.

Make a lower offer on the original house that fell through.

Get the move done before baby is born, go back to freelance which gives you the flexibility for childcare.