Moving back in with the folks next week..

Discussion in 'OT (OFF Topic) Forums' started by Donza, Nov 22, 2008.

  1. Donza

    Donza Hardcore MB Enthusiast

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    Over the past few months i made a lot of big decisions.

    I have left a career job and have decided to leave Leeds and move back in with the folks in West-Mids, and to be nearer to my GF. Also i am undecided yet about whether to sell/rent the house i currently pay a mortgage on.

    Living on myself in Leeds was a good choice, i furthered my career, gained great experience. But was really missing the family, coming home alone after working 11-15 hours days was not great.

    Its going to be well wierd living back there after 4 years away.

    At least i'll be able to save £££, and truth be told its made me realise family is pretty important to me.

    Glad i left when i did, glad to be returning also.

    Ask me in a week after though. and i probably will have changed my mind!
     
  2. mercboiuk

    mercboiuk Hardcore MB Enthusiast

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    I'm 23 and still live at home. Even though I'm out most of the time, it always great to come back to a decent family home, rather than "just a house".

    If you can, I would rent out your house and sell when things pick up again.
    Good luck with your life change though! Exciting new times ahead, I guess! :bannana:

    Darren
     
  3. scumbag

    scumbag Hardcore MB Enthusiast

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    let me get this right...

    you have made some big decisions to end your job, move to the midlands and presumably, have already discussed this with your parents.

    And yet the house you pay a mortgage on, you are undecided if you should sell, or rent it out?

    in any of these moments when you considered all the other decisions, I guess that one took you by surprise did it?

    Why don't you take a look at several local estate agents prices, then do some research on the last 18months worth of prices.

    Then maybe ask around and find out what the rental market is like in that area.

    If that doesn't help, then try this.

    You are moving in with your parents. You are not buying another house at present. Therefore do you sell, what is an asset now, or cash it in when you are ready to buy again?


    Want a more simple answer.

    Buy high, sell low! Get my drift?:confused:
     
  4. st4

    st4 Banned

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    I live with my folks (the only reason why I can afford an MB) and love it. After a long day at work its nice to come back to a house with people in it. If you're anything like me you'll enjoy it, if you're one of those I need my own space types then it may not be so good.

    I'd maybe think about renting your place out, the property market is falling but rentals are quite popular as many don't want to take the plunge and buy.

    My view is you need to work out what your likely income will now be, as you'll be working in a new job. Can this feasably sustain a mortgage on a property you don't live in? If not then rent it out to at least cover some of that cost. Alas there have been better times to sell a house.
     
  5. scumbag

    scumbag Hardcore MB Enthusiast

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  6. A210AMG

    A210AMG MB Club Veteran

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    Glad your sorting things out,


    I love our own house but guess the difference is I have a family. Still firly young but as much as I love my Mum and Dad I could not move back in now.

    Upwards and onwards for you.


    Regarding the house, look into what you will get rented (furnished / un furnished) will it cover the mortgage / close?

    At the moment if you could get some professional types in renting I would be tempted to do this, the value of the house could be lower than you hope but the rental value will still be good.

    If you can live with your parents for a year or so (or does your GF have a house?) then look at selling when things pick up, and they will.

    Next thing you will be telling us is you have bought a E63....

    Good on you
     
  7. lynall

    lynall Hardcore MB Enthusiast

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    Def dont sell, well its not a case of dont more of no one will buy it:( at the moment unless its a giveaway price.

    Rent it even if it doesnt cover the costs it will still be a better bet in the long run until prices climb.

    Dont rent it yourself let an agent do it, we use Coles very very professional and average in the percentage stakes.

    You will need gas cert for boiler and cooker and a stupid performance energy cert so the new tenants can see how efficient the house is or isnt!
    Both about 50 to 60 quid each.



    Lynall
     
  8. Uberwagon

    Uberwagon Hardcore MB Enthusiast

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    I would definitely just rent for a while until you are very sure you made the right decision.

    I'm 26 and still live at home. I work away for very long periods of time so owning my own place is pretty pointless. Currently putting the coppers away so me and the girlfriend can build our own house starting next year.

    Do what makes you happy, the rest is just a waste of time imo.

    Dave!
     
  9. jaymanek

    jaymanek Authorised Forum Sponsor Authorised Forum Sponsor

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    I moved back home after living/studying/working in london for 6 years...

    It was the best thing i could have done..

    I rented my flat out in london.. Whilst it can be a pain to keep tenanted and in good order (due to the distance), I like owning a property in London.. It ws my first real place and i loved living there..

    At home things are a million times more comfortable. We have a big house and it makes no sense to live separately. I have family support in everything I do and that makes a huge difference..

    As for financially, I try to take on as many of the responsibilities for the house and its still much cheaper and more satisfying than spending silly money living in a box in London.

    Much much happier at home too... I met my wife here and we all love the family life...

    And without my parents time, guidance and support, Mercland would have been a lot more difficult to build up.
     
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