Property dilemma

Well the For Sale sign is up and I am now looking at my home for areas that can be de-cluttered and tarted up quickly. Occasionally I question whether we are doing the right thing. Our current plan is to sell-up, rent a house nearer our workplaces and the area that we tend to gravitate towards anyway and then put our equity into a property in Wales or elsewhere mortgage free. Every time we mention our plans to friends and family they do not see the logic from a financial point of view with the argument ….’why rent when  you already own a perfectly good property on low mortgage payments’. The trouble is we are mortgage prisoners and have reached our final rung on the property ladder now self cert mortgages have been removed from the market. Our only option now to own a property in the area we want to be in is to downsize significantly or buy a  property in another part of the UK. 

We know we don’t want to live here once our daughter is at secondary school and so figured if we move  now it may be easier for her to settle into her new school and get on the right catchment for secondary. It all hangs on whether we get the right price for our house and if we do, whether we can find a suitable house to let. I can see the argument for locking money into a property in the SE but with mortgages difficult to come by and a secondary ed system that forces parents to play the postcode lottery game, I would be more comfortable renting. 

However, the more negative reactions you get from family and friends the more you have to convince yourself that it is still the right move so perhaps we will have to leave it to fate…..the best laid plans in life always fall foul to fate anyway….

We bought our house just before the recession so when the property market was at its peak and we hope to sell it for more that we bought it for so it will be in an interesting test for the market – hopefully it will be a positive one if recent headlines are anything to go by.

I am blogging every day to raise money for Unicef. If you can donate that would be great visit unicef here.

Thanks for reading.

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