So those who follow me on Twitter, will be aware that we’re going through some big changes at home. Namely, our home has changed. We upped and moved into a bigger house. Not one single step in the process was cheap, or even reasonable for that matter. I wouldn’t recommend moving without really thinking it’s worth it, especially with kids in the house, but here’s why we did it…
We loved our first home. We saved like mad for a deposit for the place, we’d gotten it just the way we liked it, (well actually, I’d begun to hate a wild red feature wall in our kitchen that felt like a good idea at the time) but we happened to take a wrong turn near A’s school and saw a loveliest little development that’s beside the primary school with walking distance to shops and the bus station. We loved the look of the homes, and being new builds, we knew we would be buying a house with good energy efficiency, a 10-year structural guarantee and minimal maintenance costs. I wouldn’t say it was a no-brainer, but hard as we tried, we couldn’t find a flaw that put us off pursuing it.
One day, after some solid therapy, I’ll be able to blog about the process, but right now, we’re just enjoying our new home and trying to win back all the friends we lost since June on account of being insufferably self-obsessed.
This does mean that we’ve had to do some soul-searching about what comes next, as to-date this blog has been about saving cash for a deposit, but now that is moot. We we have more or less wiped out our savings as the downpayment for the new house… also, on account of our childcare costs being deemed prohibitive to the affordability of a mortgage payment (despite the fact that we’ve been paying both fine for 5 years now), we knocked back our mortgage term to 30 years. This is not part of our plan. I want to get to 55 at the latest and be mortgage free and have the whole world as our oyster… not looking at the last 10 years of our mortgage. So our short-term plans are as follows:
- Pay for Christmas
- Settle bills related to our move
- Re-do new household budget.
- Set monthly savings targets at the start of each month.
- Save up a reasonable little emergency fund (£1500 or so)
- Save as much as possible to put down as equity when renegotiating our next mortgage deal in September 2019. I’d like to save £6k in this time – 20 months @ £300 could do this but it’s a little stretch for us.
- Develop my side hustle into something consistent.
When we are renegotiating this deal, we’re shortening the term. We had 18 years left on our last mortgage and I want to come back down to around 20 years.
So this brings us to our long-term goal – paying off this damn house. We’re finally in it, and we really bloody love it but we’re going to keep living frugally and start chipping away at the house. In terms of the blog, I’m glad to be right back into it with a solid goal in mind – expect the same types of posts as we squirrel away our pennies and make this house our own.