Pabs Posted January 1, 2007 Share Posted January 1, 2007 Hey all, It's bugging me, so much so that i thought i'd ask other peoples opinions. Currently I live with my Girlfriend in Southampton. I work in Reading, and so commute 55miles either way every working day. I currently drive a 1.8T SEAT, averaging about 35-40mpg I am 25 this year. My girlfriend drives a 1.3 yaris sport, and works in southampton. She is currently studying for 2 more A levels, and then in just under 2 years (sept 08) plans to go to uni - more than likely Guildford or a London uni. Helen (gf) owns the flat we live in. She is 26 this year. When she finishes uni, if on target, we'll both be in our early 30's (32/31) Now, I want a house. I've been saving like crazy for a year or so now. I want a 2bed semi with a garage or at least a driveway for my current and future car(s) (bit of a car freak, me) Both of us have had it in our minds that we'd move to somewhere like Basingstoke somepoint in early 07, which would cut my work commute by 1/2, and save a LOT of money. However, she would still commute to southampton for a while until she started uni. My worry is money, and the cost of travelling. If she goes to a London uni, she probably wouldn't be able to help pay the mortgage on the house, AND commute to uni every day. So she might have to move to uni halls or something. This would put ME up sh*t creak. Unless I got a lodger or something. Taking all this into account, what would you do? Would you move this year (Purchase), and then change plans in 08 when she goes to uni? Same as 1, but rent? (Drop off property ladder all together) Would you stay put, and throw money away on the long commute, put off the supra purchase for a very long time (by then they'd all be dead, and it'd probably be mk5 supra's) Would you move closer to work on your own, and rent? (probably mean splitting with the missus?) Would you leave your job that you LOVE to try and save money, and then see what happens when she goes to uni? Move 1/2 way between your job and approx. missus uni, either now or in a year or so. Other - please state! Its doing my head in. I really can't think of what would be the best option. Whichever way I turn, I'm going to be throwing something good away. I HATE renting - theres absolutely nothing good about it, other than the option to move/relocate quickly. ARRRGGHHH!! Sorry for going on - perhaps i'll get no replies on here. I just need to vent my thoughts out. No doubt I'll go to a financial advisor at some point soon (with the missus) to look at options. Thanks all. Rant over Link to comment Share on other sites More sharing options...
Max Headroom Posted January 1, 2007 Share Posted January 1, 2007 What line of work are you in? Link to comment Share on other sites More sharing options...
SupraAyf Posted January 1, 2007 Share Posted January 1, 2007 You are going to have to be real careful about buying and selling houses in line with any future plan during the next few years. The Bournemouth-Oxford-Brighton triangle is the part of the country that is being severely affected by house price increases and this is destined to get dramatically worse over the next 1-10 years as housing stocks are outstripped by the demand for homes in this region. This really means that any plans to simply buy and sell homes should not be taking lightly if money is always going to be tight. The property prices in these areas are going to increase significantly during 2007 and 2008 so it is best that you come up with a single plan that you are both happy with and one that suits both of your needs for the next few years IMHO. This house business is a massive consideration but I think the main one is whether this girl is the one for you TBH mucka! Best of luck mate;) Link to comment Share on other sites More sharing options...
Pabs Posted January 2, 2007 Author Share Posted January 2, 2007 I work in IT Support. I've been in a few jobs more local to home than here, but none "do it" for me. This job is great - the people, AND the job itself. One thing i forgot to mention is that we've just been bought out by a HUGE company - could mean i lose my job (find out soon ish i would think) or i could keep it and move onto bigger and better things within the company. That means I'm not thinking about anything definate for the next month or so, but after then i want to be moving on and progressing in one way or another. I know house prices will go up soonish, i've read it too. But i don't see how that will affect me - if I buy a place this year and need to get shot and move somewhere else 2yrs later, I can sell for more than i bought so i'll make something out of it. I could understand a problem if house prices were going to DROP.. but THAT isn't likely now is it Link to comment Share on other sites More sharing options...
Pabs Posted January 2, 2007 Author Share Posted January 2, 2007 I've been looking at jobs for a good few years now, but because i didnt have the recommended experience in support, nobody would touch me. I was applying for jobs on LESS money than i could earn doing part-time in a supermarket stacking shelves, and STILL being turned down. I have a Masters Degree in Computer Engineering, and I'm working on some Microsoft exams bit by bit in my spare time. I'm not on fantastic money at the moment, but its better than most places nearer to home. I know that will be the case - the closer to London you work the more money you get paid, but thats because its more expensive to live there. Anyway, keep the ideas/comments coming! Thx! Link to comment Share on other sites More sharing options...
tbourner Posted January 2, 2007 Share Posted January 2, 2007 If you're reasonably well off at the moment, you're able to save and your missus obviously isn't that bothered by the current situation then stay there!! Put up with the commuting until your missus is ready to go to Uni, then when she finds one she likes you can move (buy) nearer to Reading. Obviously your job will affect this plan, if you stay in it you may get promotions or whatever and be able to afford a mortgage on your own (while she's playing at uni), otherwise you might have to think about working in London - you'll be earning more and again be able to afford the mortgage (living outside London). Either way it's irrelevant whether she lives there with you or not then and you could even get a place closer to London and live with her. If you can't afford it alone, you can get a lodger and she can halls it. Also, what Andrew said; it'd be a lot easier to make these decisions if you thought it maybe wasn't gonna work out with her!!! (I'm in the same boat). Link to comment Share on other sites More sharing options...
Alex Posted January 2, 2007 Share Posted January 2, 2007 Tell her to quite sponging off you/the state and get a proper job - problem solved Link to comment Share on other sites More sharing options...
mathew Posted January 2, 2007 Share Posted January 2, 2007 i got a book for christams all about house buying, buy to let, renting etc etc (not quite sure why, maybe me folks are trying to tell me something) and the rule they have in that is only buy a house if you HAVE to, if theres no desprate need to move out then stay where you are. with regards to the prices going down just remember that the housing market is an economic bubble and bubbles more often than not end up bursting. Link to comment Share on other sites More sharing options...
tbourner Posted January 2, 2007 Share Posted January 2, 2007 Once you're on the ladder the actual prices don't matter (just have to forget how much your mortgage is worth). All the prices will rise and fall together so your next 'step up' the ladder will always be that percentage above your own property value! The only problems to watch out for are with interest rates. Renting is shit. Regardless of how you compare it to buying and house prices and mortgage rates - renting is throwing money down the drain with NOTHING to show for it - it's literally impossible to come with nothing when buying a house unless you do something silly (buy above your means and don't get out when you realise you've ballsed up), it's literally impossible to come out with ANYTHING when renting!!!! Link to comment Share on other sites More sharing options...
merckx Posted January 2, 2007 Share Posted January 2, 2007 I would wait to see which university she goes to first before doing anything. I wouldn't want the worry of getting my own place and not being able to afford the payments if the gf has to move into the halls of residence at uni. Stay at your girl friends place and save up for another year . Link to comment Share on other sites More sharing options...
Pabs Posted January 2, 2007 Author Share Posted January 2, 2007 i suppose another thing to mention is the fact we are fed up with some of our neighbours, and leaving my car parked on the main road means my 3yr old car now looks 30yrs old, due to several wing mirror replacements/fixes, dents, scratches - people nicking valve caps etc. Its absolutely gutting to have a nice car here, and watch it turn into the same hunk of sh*t that everyone else drives. If the missus needs to go to uni halls or whatever, i don't see any real problems with selling up our new house and getting another one, or whatever, other than the hassle of moving again. But i'm used to that after being a student for 4yrs etc... different house every year. I think you're all saying the same thing though. Stay put for a year or so. Its not the answer i want to hear but i suppose it makes sense. Means i continue to pay her rent and not get on the property ladder myself, run my car into the ground, and put up with the 3hrs of driving in rush hour traffic a day, but i suppose its the best Link to comment Share on other sites More sharing options...
tbourner Posted January 2, 2007 Share Posted January 2, 2007 What has your girlfriend said about it? What are her opinions on what you should do? Would she be happy about moving into 'your' house instead of hers? Is she planning on living at uni or not? Link to comment Share on other sites More sharing options...
Pabs Posted January 2, 2007 Author Share Posted January 2, 2007 she thinks she can commute to uni... but thats without even looking at the cost to travel from, say, basingstoke to london and back by train. I think the cost would not justify it. She has said in the past that "things seem to be going in my favour" - as in she'd lose the flat and being on the property ladder, and that SHE would be renting off me.... and i would gain a house if we ever split up. I've contemplated moving in with a mate as well, but i don't see our relationship lasting with the amount of times we would get to see each other. Thats not to say our relationship is weak though - we've been through a LOT over the last 3.5years and still going It's going to require more thinking.. Link to comment Share on other sites More sharing options...
Pabs Posted January 21, 2007 Author Share Posted January 21, 2007 well more thinking has been done, and I'm still a little clueless One one side - we've decided we'd rather move this spring, and just take things as they come. Getting a bigger/better property is never (well, not likely) going to lose us money, so it seems sensible. However, I'm not sure about the relationship now. I need to do something about it - and i don't think the missus "can be bothered" - all we seem to be doing now is arguing and b*tching. So thats making me doubt any future commitments. Anyway - has anyone on here purchased a place on their own, and then got a mate to move in and pay rent? Hows it working out? Link to comment Share on other sites More sharing options...
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