A2H GO
Member
Registered: 14th Sep 04
Location: Stoke
User status: Offline
|
Moved into our house on a shared ownership deal 3 years ago. Always said we'd save to buy the rest but 3 years has gone by in no time at all and realised that after bills/mortgage/rent/cars it will take us forever to save any decent money.
Getting married next month then need to start thinking about whats next....the thought of still being in a shared ownership house in another 3 years with very little savings isn't ideal. Plus in another 3 years we might want to upgrade to something bigger but will have no savings/equity to do so.
Mrs rents have said we can move back into this little cottage they've got in their garden(granny annex thing) where we were before we moved out. Trouble is we used to argue and eventually couldn't wait to get out from living in her parents pockets.
Worked out we could comfortably save £24k between us in 12 months, with the same amount left over for the odd luxuary as we do now.
Do I risk it for a chocolate biscuit and potentially end up either divorced or 24K better off? 
|
John
Member
Registered: 30th Jun 03
User status: Offline
|
Will you be 24k better off? How much will it cost you to sell up?
|
A2H GO
Member
Registered: 14th Sep 04
Location: Stoke
User status: Offline
|
Nope, worked out in 12 months time, we'd be around £14k better off in total after we'd paid to sell this house and assuming we can still sell it for what we bought it for 3 years ago.
|
John
Member
Registered: 30th Jun 03
User status: Offline
|
Can you not stay there and put any extra money towards buying the rest instead?
|
A2H GO
Member
Registered: 14th Sep 04
Location: Stoke
User status: Offline
|
Worked out at a push we could overpay by £300 a month and that it would take 4 years to pay off the 25% we own as we have about £22k left and put £7k down to start with.
In that 4 years we will have also paid £26k in rent too though.
|
