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How do you know it is time to move?

So how do you know it is time to move?

I have itchy feet. Yes, it’s been quite some time since we have had a vacation (like the rest of the world) but these aren’t the kind of itchy feet I mean.
Its not my career either. I had a new book out a few weeks ago and am working on a new one on nature crafts which is being published in September, nope my working life is thriving and I am happy with my lot.

My itchy feet aren’t down to location either, Nottingham is a wonderful vibrant and diverse city of culture , meets meets my needs both urban and rural and both my kids are really happy at school.

My itchy feet are down to my property

Is this the indicator  that is time to move, a general feeling of dissatisfaction and being unsettled?

How do you know it is time to move?

 

How do you know it is time to move?

It is a feeling I have of dissatisfaction that makes me think it is time to go but on a very practical level I have a home which is no longer serving mine or my families needs. We are now 4 big peole living in a small space instead of 2 adults and 2 small children.

My husband as well as I works from home. I continue to work in a tiny area of the kitchen and I get disturbed all the time which is driving me nuts. I also can’t leave my work stuff out and have to pack it away each evening. Frustrating for a writer. My daughters bedroom is way too small for her too sand we could so do with another bathroom.

We need more room.

This is a pretty old house too and looks it, I  want something more modern and easier to manage, a fresh start. It is time,  I just know it is.
But can we afford it?

That’s always the big question, isn’t it?

Can we afford to move?

One of the easiest ways to figure out if you can afford to move is simply by hopping on to Mortgage Calculator  and trying out one of their great calculators to see if the money adds up.

They have calculators for all types of mortgage questions such as can I afford to refinance? What would over payments look like? Can I afford a second home, etc. But for me I want to know what  kind of mortgage I can best afford based on my income.

Using their calculator to estimate mortgage affordability based on our income has been so revealing for me.  It is so very easy to use too.The calculator  presumes a single income earner. If your household has 2 income earners then you can expand the “spouse or partner” section to enter their income information. They  calculate the mortgage qualification ranges using the following maths:

Your Mortgage Qualification Low End High End
Single Income Earner 3X annual income 4.5X annual income
Two Income Earners 3X higher + 1X lower earner 3X both incomes

You can adjust deposit to  see how that makes an impact too.

Such a speedy way to check what you might be able to afford and it left me pleasantly surprised.

In addition to using the above affordability calculator, you can also check out their monthly mortgage repayment calculator to estimate your monthly payments for various loan scenarios. This is really helpful because knowing you can comfortably afford mortgage repayments is really important.

So that is the financial stuff taken care of.

But isn’t this a bad time to sell?

According to the BBC there has been a surprise pick up in house prices recently  so now is a pretty good time to sell your home  (though perhaps a pricey time to buy)

I do believe the pandemic has made a lot of us look more closely at our homes and consider – is this right for me? And actually if it isn’t now is a good time to start thinking clearly about why you want o move and working out if you can actually afford to.

 If you planning to stay local it is worth taking a look at Rightmove Market Trends 

Rightmove Market Trends uses the UK’s largest set of property information to provide insights into market activity in your area and how this has changed over time. Simply enter your postcode and find out what is happening near you.

 

How do you know it is time to move? Do the work

I would say that yes, itchy feet should be listened to but then do the work, work out your financial calculations, check out the market and be practical. Moving home is a big and important decision and not one to be taken lightly or on a whim.

You might also like my post on how to move home safely during a pandemic
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