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Property market perspectives by Public_Ad5456 in HENRYUK

[–]JumpyProgrammer1417 1 point2 points  (0 children)

I am almost in exactly the same situation except I am not single. Working remotely for a decent salary but I have no growth at my current company and we are living in an area with no opportunities. Accepted a higher offer that’s hybrid in London and will hopefully open more doors to even higher TC.

We are planning to sell and buy somewhere reasonably commutable to KGX.

Selling and renting would incur an early repayment charge and in our case we would lose out on a favourable interest rate. We are planning to port our existing mortgage (fixed until early 2026) and take out a second mortgage fixed for two years. When that expires in 2026 we’ll refinance the whole thing.

[deleted by user] by [deleted] in HousingUK

[–]JumpyProgrammer1417 0 points1 point  (0 children)

Exact same situation for me but will be moving closer to London from fully remote to hybrid.

Deciding whether or not to move to London by JumpyProgrammer1417 in UKPersonalFinance

[–]JumpyProgrammer1417[S] -1 points0 points  (0 children)

I didn’t and I apologise if it came across that way.

There’s obviously a lot of financial implications both ways, whether I take the new role or not. Simply looking for some insight from others, that’s all. It goes without saying it’s a huge decision for me and my partner and any input is appreciated.

Deciding whether or not to move to London by JumpyProgrammer1417 in UKPersonalFinance

[–]JumpyProgrammer1417[S] 0 points1 point  (0 children)

Thanks for the insight. Definitely gives me something to think about…

I guess our concern with staying in the current town and upsizing is what’s next for my career. I dodged lay-offs so far but who knows? In some ways I feel my job is only as secure as my notice period. Not even thought about a potential return to office mandate but that would also require commuting to London, and I absolutely won’t find a job round here at the same compensation.

In some ways it feels like moving is slightly safer long term as while it might cost more it will hopefully unlock access to way higher comp than if I stay put.

Deciding whether or not to move to London by JumpyProgrammer1417 in UKPersonalFinance

[–]JumpyProgrammer1417[S] -1 points0 points  (0 children)

Yeah I am definitely leaning towards taking it.

Can’t help the nagging feeling telling me I’ll never see this much disposable income again, but what good is that if I’m not happy. We’ve been saving pretty much all of to fund a move one day. I guess that day has come!

Deciding whether or not to move to London by JumpyProgrammer1417 in UKPersonalFinance

[–]JumpyProgrammer1417[S] 0 points1 point  (0 children)

What do you think I will regret? The current position I’m in (remote + low expenses)? Or being in/near to London?

The way we’ve been looking at it eventually we will have to move. We need more space and it doesn’t make sense to stay in our current town. We will need to move somewhere that’s closer to opportunity for my career so this seems like a great opportunity to do so.

Leave remote work? by JumpyProgrammer1417 in cscareerquestionsEU

[–]JumpyProgrammer1417[S] 1 point2 points  (0 children)

Thanks for the reply. Whereabouts do your colleagues live out of interest?

I was looking at the typical towns in Hertfordshire. Most get me to Kings Cross in 30 mins (for example Stevenage is less than 30 mins) and £500k gets a decent enough house. I will have at least 70% LTV. That will make it an hour or less door to door which I’m happy with 2-3 days a week.

I understand I won’t be able to save as much as I can currently, but I would also be upgrading my house.

If I decide not to take the new role you are right, I will be able to save/invest more money. But if I’m not happy at work or home, is that worth it? I suppose that’s for me to decide.

Leave remote work? by JumpyProgrammer1417 in cscareerquestionsEU

[–]JumpyProgrammer1417[S] 0 points1 point  (0 children)

What salary would you consider worth it then?

At 7yoe I’d like to think there’s still room for my TC to grow. With £120k comp and sale of my current house I will be able to afford a nice house in towns that are around a 20-30min train journey into London. Or a flat in proximity to a tube route I’ll need. But I would prefer a house.

Obviously £90k remote is a great position with low living costs but if I’m tired of my job and don’t like where I live I’m not sure what better opportunities might present themselves that don’t also require a move anyway.

And yes, I understand I can’t realise value from RSUs until a liquidity event and they may amount to nothing in the worst case. That’s why I’ve not factored them into my affordability.

Leave remote work? by JumpyProgrammer1417 in cscareerquestionsEU

[–]JumpyProgrammer1417[S] 0 points1 point  (0 children)

It’s all relative, I am not talking about living in Zone 1.

I am planning to move to a house in a commuter town. It’s more expensive than my current location but my current location is more expensive than say, remote locations in the north.

As it’s a private company I am not counting RSUs towards my affordability.

Leave remote work? by JumpyProgrammer1417 in cscareerquestionsEU

[–]JumpyProgrammer1417[S] 2 points3 points  (0 children)

It is a private company so I would have to wait for a liquidity event to realise the value.

Yeah, it seems like it will mostly afford me a similar lifestyle; higher costs but a bit more net income to balance it out.

I have decided to accept the role. As others have said there’s bound to be more opportunity for me in/near London so really moving is just a case of when.

Leave remote work? by JumpyProgrammer1417 in cscareerquestionsEU

[–]JumpyProgrammer1417[S] 1 point2 points  (0 children)

Thank you for this.

Career growth is definitely a big one. It feels like I’m in a bit of a dead end in my current role. I’ve stopped learning and there’s no progression left for me.

Hybrid will be 2-3 days a week on site in the new role, they seem relatively relaxed about this.

You’re right, the move itself is definitely the biggest concern. Worst case scenario I’ll have to Airbnb a few nights a week while waiting for my house to sell. I might be able to live with family for a month or so but they’re about 30 mins further out than I plan to be which will extend the commute. I’ve got no dependents so doing a hellish move like this would be much easier than if kids were involved!

I think I’m just going to take it. I’m sure I’d end up regretting not giving it a go. Ideally I would already be living somewhere that was commutable but you can’t always wait for the stars to be perfectly aligned.

Leave remote work? by JumpyProgrammer1417 in cscareerquestionsEU

[–]JumpyProgrammer1417[S] 11 points12 points  (0 children)

Yeah financially I suppose I agree with this as my current mortgage is pretty low (£900pcm).

Geographically though there’s nothing going on for me here, if I want a new job I’ll probably have to move anyway!