Should I stretch myself - mk II

[Breeks]

First time post.....I noticed someone has just asked the same question as me, but from the opposite end of the age scale!

I'm 48 with two young kids, live in a house that's now a bit too small and with neighbours who have made our life a bit difficult over the last couple of years. We've reached the decision that we need to move house.

Mortgage is currently approximately 15% of household monthly income and has roughly 15 years to run.

I'm not convinced my current house will sell quickly, it's in a semi-rural location and other houses round about take quite some time to sell. Added to that there's a fair amount of new builds going up relatively close by which I assume will impact us in terms of selling.

Have been tempted by the ( assumed ) hassle free approach of doing a part-ex with a new house builder but to qualify for that I'd be looking to pretty much double my mortgage which makes me very uneasy taking my age into account.

So my quandry is :

1) try and sell privately and accept that it might be a long haul in the meantime live with lack of space & problematic neighbours.

2) take a risk and part-ex in the knowledge that disposable monthly income takes a big hit but life would be easier in other aspects. In addition I suppose I could view the house as just an asset, if things didn't work out I could sell and move on again to something more appropriate.

What would you do???

Edited by Breeks on Tuesday 30th May 13:59

Edited by Breeks on Tuesday 30th May 13:59

[Breeks]

Thanks for replies.....have spoken to a local agent, who stated that market in this specific area was "slow" so my expectations for a fast sale are low already.

I guess I'm looking for a quick fix using partex - as young kids = clutter and time, therefore getting a house ready to sell is a hard slog, however, if I take a big financial hit for the privilege then it does seem a bit silly.