Are all risks worth taking?

I’ve been forward and backward too many times currently with our living arrangements and forward planning. My head is dizzy, my mind is in two and my heart is left a little deflated. When it comes to finances and livelihood, is a risk worth taking?

Sell up and risk a big financial loss only to rent a place which is yes, bigger but not cost effective? Or stay put and make do as a family of three in a one bedroom flat while we can try to save as much as possible in the next three to four years and take it from there. Bear in mind, there is no guarantee that during this time more equity on our home will be lost.

While we thought it through and were prepared to take a leap of faith, to hope the home we share would sell and we could live in rented accommodation meanwhile as a stepping stone, we have since decided not to go ahead with a move.

This may seem silly, we need the space and the rent wasn’t over expensive. Initially, it was a no brianer. To cut our loses, take the hit and move on. A mortgage isn’t everything and being so young we could work up savings once more. Could we?

Should we sell and lose money on our flat? This takes us off the property ladder and leaves us in a rut of renting a home and struggling to save, all with a baby to consider and a family livelihood to support. Having talked it over, and over (and over) we come to agree that a move at this time would not financially benefit our family.

The risk of not selling our flat and having to keep two properties running on my part time wage and Euans salary just was too much of a stretch. The rented accommodation we viewed was lovely, it would have been ideal as a first home but to take ourselves out of the property ladder and potentially get into a dangerous situation financially for the sake of something that’s simply ‘nice’ just isn’t worth the loss of sleep.

Sadly, our scenario is quite tricky, we are not in a position to have a mortgage and require further savings, yet we have limited space available at home. Eleanor is on the move and requires that extra room to roam, we squeeze past one another in the hall, in the bedroom. It is cramped but this is what we have for now and all we can do is save whatever we can for the foreseeable future and hope that what’s meant won’t pass us by.

As a family, it is in our best intention to do what is best and do what is right for us and for Eleanor. The risk involved with a move right now is just too much to bear should something go wrong and the thought of homelessness with a child is just unthinkable, we would never forgive ourselves if we bit of more than we can chew on a whim. I believe every decision has a consequence and the easy option, that quick fix doesn’t always come so easy.

So, regarding my last post and a move on the horizon, we will be staying put in our one bed home, a home that is yes, cosy but it’s home. It serves us well and suits us just fine. I know ill forever complain about the space, the shoes falling out onto my head from the wardrobe that doesn’t close and the sheer clutter gathered in an organised mess but I think that we can all learn to be more thankful for the things that we have, after all, it is what we have and we can’t change the hand we are dealt.

We can work towards a better future and financial stability and we can work hard at it for those things that we want. Nothing comes easy and I was never raised to believe so. The experience has taught us what we need to know for a future move and shown that to be organised is key. We have expectations of what we now want from a home, we have a rough estimate of figures and we have time.

Time to save, time to think and importantly, time to breathe. The risk of a move was too big for us to consider in full at this stage of our lives but we will readdress the situation over time and keep looking for options available that will suit and serve us better.

I’m sorry to have given up on the idea of a more positive environment to raise my baby. An extra room and an en suite would have been great but it’s just not the time for us to be taking on a second property and paying both a mortgage and rent. A heavy burden to carry whatever way we look at it.

I’m ready to move on from this and begin to work toward a new goal. A goal of having our own home, an upgrade from our one bedroom flat and one that can and will be ours to keep. We have areas in mind and ideas to toy with, what’s right for us will come at a time that is right for us. Just because this moment is not ready, it doesn’t mean down the line we won’t be ready. We will be more prepared than ever and I cant wait to get stuck into saving and work toward a better future.

 

Keren x

 

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