Catchment 22

when is it time to sell your first home?

It’s the talk of the town amongst my mummy mates since the beginning of September: school term starts, and for many it’s an exciting milestone for their kids – the first day in school.

You’ve probably all seen your Facebook timelines with little girls and boys stood against a wall in their oversized uniform. Too. Cute.

Whilst it feels like only yesterday that I gave birth, I’m currently planning Luna’s 2nd birthday party (already, waaaaaa) and we’ve also started looking at schools in our area.

When we bought our house it didn’t even factor into our decision making that we’d need to think about good schools. We were desperate to get onto the property ladder and we took a ‘project house’ in a good area as an unmarried couple with no kids. Schools just weren’t on our radar of criteria.

^^^Where it all began^^^

But things are different now. We’re at a really pivotal moment when we’ll have to make some big decisions within the next year, and here’s why.

Religion

All of the schools in our area are faith schools and we are a strict no-religion household. I’ve thought long and hard about whether I feel strongly enough about sending Luna to a non-secular school. Do I feel so strong about it that I would spend thousands of pounds moving home and saying goodbye to this little house that we’ve put blood, sweat and tears into? And the answer is yes.

Brexit

Urgh, I don’t want to talk about it too much because I’m still upset with the result. BUT, no matter which way you feel about it, there is definitely going to be a knock on effect to house prices, and this will definitely affect  how likely it is that we can afford to move. I’ve actually got quite a few friends who are already looking at houses for sale in Melbourne, and we are already losing some of our nearest and dearest to NZ or mainland Europe!

Equity

When is it time to move on? I don’t  like to put the entire value of our house in monetary terms, but let’s face it, it’s a bonus if you’ve made money renovating a house. We actually remortgaged our house this summer and had it revalued to do so. We’ve actually increased its value by 67%. SIXTY-SEVEN PERCENT. Moving home is so expensive, but if we are going to do it, do we do it now whilst we’re in the plus?

Retirement

Ultimately our long term dream is to keep this house. We’ve put SO much into it and emotionally, I wouldn’t feel ready to let it go. I know how ridiculous it sounds to be discussing retirement when I’m only just about to turn 30 and am unlikely to receive a pension until my late 70s but it’s always good to have a safety net. I’d love to keep our home and rent it out, and for it to one day be our little income as golden oldies. I’d love to buy a period property with high ceilings and original features and start the renovation process all over again and that be our home for living in and raising our family.

I know how bonkers that sounds. Most people don’t renovate for a second time, after being put off the first time around. But it’s a dream Joe and I share.

None of this might happen. We may never be in a position to do it. But we’re at a crossroads, and we need to decide which way we’re headed. How do you know when it’s time to move? Or should we just extend our current house?

Answers on a postcard.

Home Etc

Related posts:

  • Christine & Jan

    Come to Berlin! Admittedly it may not be the most practical solution for you guys but we’re loving it so far… Boo Brexit!

    • Ahhh I must admit, if I wee to consider Europe, it would certainly be on the shortlist. Such a wonderful city. Loving seeing your move on Insta Stories and can’t wait for updates! xx

  • Australia is a great place. I’m tempted too, but I must say I love London too much. I need to pluck up courage to do renovation again, after a huge amount of work being done to our home 5 years ago. x

    • Absolutely – we have relatives in Australia who would never come back so there must be something over there that we’re missing! Thanks for stopping by Geraldine 🙂 x

  • Carl Baker

    My son joins high school next year and the one he wants to go to is nowhere near our house, so we are unsure what to do.

    Great post

    Carl b
    http://Www.ablokeseyeview.co.uk

    • It’s tough one isn’t it? Fingers crossed you find a school that fits!

  • Sarah Irving

    We don’t have kids, but the whole thing about moving/brexit etc is a difficult one for us too! Our plan is to compromise for the time being (low interest rates which are a mini thanks to Brexit mean that we can overpay)

    I’d love to go onto another house that needs doing up – it’s great because it really makes it your own. And perhaps a new school might open before your little one is school age.

    • Absolutely! I’m trying to remain positive no matter what we choose. And we are lucky really that we get the option to choose too 🙂

      Thanks for stopping by Sarah! x

  • Such difficult decisions BUT I’d probably argue for staying put and renovating/extending as you need to. House prices will bounce back plus any additions you make to your home will only add value anyway. Our house dropped £30,000 in value immediately after Brexit but has already recovered £25,000 of that, so I think a lot of the shock around the result was a kneejerk reaction because we just were all so sure it would never happen! Good luck with whatever you decide to do X #HomeEtc

    • Thanks for sharing that Lins! I do think we’ll probably stay due to the excrutitating costs of moving. Plus, we’ve put so much into this house, I’d hate to see someone else strip it of all its character! x

  • Caro Davies

    This is such a great post — I was riveted. The secular school discussion is one we’ve had ourselves but figure we can give the boys balanced views about religion (or lack of it, in our case). And, we’ve renovated 3 houses so not too good about giving advice on that!! The wise move would be to stay put for now — and extend if you need to. But, I’ve never gone for the wise option!! 😉 Caro #HomeEtc

    • Haha I’m the same, not always one for wisdom 😉
      You’ve got some great points! I think we’re very likely to stay put. I think coming from a very religious school it’s sort of put me off a little bit, but I’m trying to keep an open mind and keep my eyes peeled for good schools. A lot could change by the time we need to get her name down! x

  • mummyofboygirltwins

    Very tough but usually going with your gut instinct is right. We moved 12 months ago and it was the best decision we made and we’re so happy. Good luck xx Thanks for sharing xx #HomeEtc

    • Thanks! Completely agree that gut feeling should never be underestimated. I think we’d hate the idea of letting someone else buy our house when we’ve put so much into it. We’ll probably move one day, but don’t think we’re ready just yet. Thanks for stopping by 🙂 x