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Murderino

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Murderino

The kids and I have always planned to move house in the next 12 months to be closer to the high school they will attend.

 

I have been speaking to a broker about finance and it appears I will be fine to finance the move (will sell this house).

 

Ive been watching real estate in my two preferred suburbs for six months or more and rarely see anything in my budget that I like.

 

I’ve now seen a house that is lovely but at the furthest end of one preferred suburb - not I see myself living longer term. The location is still an easy round trip for two school drop offs, no more than ten minutes to several major shopping centres and entertainment precincts. Once they’re both at high school I’d drive straight past the school to get to work.

 

It has a very small no/low maintenance yard but a lovely park across the road so plenty of space to get outside and kick a footy, ride bikes etc. It’s also a lovely quiet area as far as I can tell.

 

It is smaller than my current place (which I want) and significantly cheaper - I’d very likely be mortgage free after the sale or close to it based on the appraisal I’ve had on my place.

 

It is the last in a row of townhouses so one shared wall - I would want to go back at around dinner time to see how much noise comes through the shared wall - one bedroom is on the shared wall and the living room downstairs, the rest of the shared wall is the stair case. Judging by the front door placement the house next door has the same rooms sharing the wall.

 

The way they are laid out I don’t think there is a Body Corp. as there are no shared driveways etc. I’d check that though as I’ve found them annoying in the past.

 

I had ruled it out because it’s not my preferred location and it is two story with all bedrooms upstairs but today I’ve been thinking I’m only mid 40s so this doesn’t have to be my final house. The kids will likely go in the next 10 to 15 years and I can downsize again to my preferred location.

 

So if you’re still with me after all that would you buy a house in your less desired location (but still a beautiful and very popular suburb) if it meant you’d be mortgage free?

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justbreath

It sounds like a great option to me. The body corporate thing would be a key deciding factor though (as well as growth potential given you plan to sell in the future).

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born.a.girl

If they come up so rarely, I think I would. Are you able to stay where you are until the 'perfect' place comes up? Or are you under a bit of pressure to do this before the first hits HS?

 

Can you list the things that you would prefer were different?

 

Is it only the location? Must say the park sounds lovely - most teenage kids want somewhere nearby to hang out.

 

I would definitely see it as a ten year plan if you do it. That does help to focus what it is you want out of it.

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MsLaurie

If you genuinely like it (rather than just like the idea of the commute) and can imagine your life there, then gosh it would be tempting!

To be mortgage free or close to at your age would be setting you up very nicely.

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**Xena**

I would. Just think that with the money you save on mortgage you could go on a holiday with the kids. It sounds great to me :)

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Murderino

It’s not that places don’t come up often it’s just that I’m picky so places I like don’t come up that often! The current place was not one I loved but served a purpose given I always planned to sell within five to seven years, but in my mind I’d thought the next place would be LONG term.

 

I looked at four others in the exact area I want that looked nice online and I hated in real life.

 

I looked at another one slightly closer to school/work than this one that is nice enough but would leave me with a similar mortgage so it’s not nice enough to tempt me.

 

If they come up so rarely, I think I would. Are you able to stay where you are until the 'perfect' place comes up? Or are you under a bit of pressure to do this before the first hits HS?

 

Can you list the things that you would prefer were different?

 

Is it only the location? Must say the park sounds lovely - most teenage kids want somewhere nearby to hang out.

 

I would definitely see it as a ten year plan if you do it. That does help to focus what it is you want out of it.

 

The only thing really (after one look) is the location and yes it’s a before high school thing and I’d prefer to be there the year before the first gets there, so by the end of next year.

 

That would leave three years of a slightly annoying commute for the younger one but great for all of us after that and they’d be able to walk or ride to school too (or walk to and from my workplace).

 

That ten year plan has been exactly my thought in these last few days. Ten years sees the youngest finishing high school and hopefully they’ll be off to see the world - I have already spent years instilling the idea that travel after high school would be great and hope to feed that in the next ten years so mortgage free will help that.

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Jersey Caramel

It sounds like a good "next house". As long as you are not someone who *hates* buying/selling/moving (I know most people don't love it, but if it is tolerable) then as you say, you can just think of it as a 10-year house. What you want for the empty-nester phase of your life may be very different, or if you find that you love that place then it sounds like it wouldn't be too big to stay in anyway.

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1975ladybug

Do you need to be in a school zone to enrol in the school of choice, if so I would go for it rather than wait a year,

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Murderino

As I understand it in Vic if I live in the zone on day 1 they have to take the child BUT I want to be there by the end of grade 5 at the latest which is the end of next year.

 

I think I’ve settled on not rushing the broker but if it’s available when that comes back then I’ll get my sister and the kids to look at it.

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Not Escapin Xmas

Sounds like a great plan to me!

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JoanJett

Mortgage free for 10-15 years - that is an enormous "compounding" opportunity for investment in your super, a healthy backup for your next home, and a less pressured life on a daily basis.

 

If the body corporate issue is resolved, and it's a popular suburb with good outlook for resale value, it sounds great. You'll have the benefit of not having to rely entirely on growth for your next home if you have no mortgage/interest payments. The caveat being that if you have extra money in hand being mortgage free, you need to be a little disciplined to reap the benefits - but sounds like you're all over that.

 

Good luck.

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Murderino

I budget every dollar very carefully and I hate shopping so I think I’m safe on that front.

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born.a.girl

If you are still not fully committed to the idea, I work on the (irrational) basis that if it's gone, it wasn't meant to be mine, and if it is, then maybe it was.

 

A house is a bit bigger than the things I'm thinking of, though!

 

I am currently doing just that with a big airfare though. Something else will turn up.

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Cheesy Sanga

When you say this potential house is at the far end of the suburb, is it also at the far end of the school zone? Zone boundaries can get redrawn (usually smaller) so think about the possibility that this house may no longer be in the zone in a year or 2.

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MrsLexiK

Changes were made this year to zones in Victoria. We are no longer in the zone of where our child attends because we have a much closer school. All schools were redone to have the zone be the closest school to you. Essentially all schools have now become “zoned”. We have dumped so many suburbs from our searches because of it because the high school we feel is the best fit isn’t the closest.

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Murderino

BAG I work on that too!

 

When you say this potential house is at the far end of the suburb, is it also at the far end of the school zone? Zone boundaries can get redrawn (usually smaller) so think about the possibility that this house may no longer be in the zone in a year or 2.

 

No it’s bang in the middle of the zone. It’s a weird zone where the school sits almost at the very eastern point and the zone is a triangle heading west, this house is about 2km west of the school.

 

The northern and southern boundaries moved south in the change that commences Jan 2020, the western boundary moved further west. All boundaries are far away from this place.

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Murderino

Well it’s gone now, just heard from the agree.

 

Silver lining is it made me think about what I want and has opened up the area I am looking in.

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Freddie'sMum

I would sell the kids and the dog to be mortgage free OP.

 

Hopefully you will find a house in the school zone.

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got my tinsel on

I would.

 

Only deal breaker for me would be a strata/body corporate.

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got my tinsel on

I would sell the kids and the dog to be mortgage free OP.

 

 

Just for you, I'll throw my kid into the deal too.

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born.a.girl

Well it’s gone now, just heard from the agree.

 

Silver lining is it made me think about what I want and has opened up the area I am looking in.

 

 

There is something better out there for you. :)

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