downsizing house

LabR@t · 4 May 2010 at 22:40

i live in a nice 4 bed semi with secluded garden garage and near to town but have a mortgage, thinking of buying ex-council house in rural country village with a very large garden 3 beds but potential to extend and have no mortgage.

Would you say having no mortgage is a worthwhile trade for a smaller house albeit in a now rural village

POB · 4 May 2010 at 22:47

Depends if you think rural village is a good thing or bad.

If you have kids depending on their ages, they might love the garden or hate you for moving them to the middle of nowhere.

LabR@t · 4 May 2010 at 23:05

young kids 9 months and 7 its the missus grandparents house so she is up for it as for sentimental reasons

Berserker · 4 May 2010 at 23:11

Would you be happy in the new location? How difficult will it be to access the services you might need - food, medical, transportation, banking etc.? Would you be happy in the same position in 5 or 10 years?

My parents moved to escape a mortgage, and they've since regretted it - they compromised too much to escape the mortgage. They're now moving again and are going to struggle for a while as a result (but still mortgage-free).

Randomface74 · 4 May 2010 at 23:38

dont u get ghetto internet in a barn?