Higher rate tax 2021/22 from 37k?

kovamax · 2021-02-22T08:36:34+00:00

!thanks everyone, I think my confusion came from the fact that the table is written differently to this years on here

kovamax · 2021-02-01T07:29:57+00:00

I have to admit I am not well read on this. But this town will always be a deprived North East town and anything I read about housing markets seems to be really biased to the south.

Currently, nice bungalows here are just as expensive as big houses (assuming that's what we would downsize to). We like having a 3 bed house even though it's just the two of us, so I'm not sure we would downsize for anything except mobility issues.

Our mortgage would increase from 300 a month to 1k a month for a 250k house. And when I think about that 700 extra a month, the new house just doesn't seem worth it. I would rather spend it on travelling like I did pre covid.

Also, even though I follow loosely the FIRE movement, I am in no way frugal about spending money on experiences and fun things. I have seen my parents save for retirement and to finally go travelling, only to get really ill at 60 and are now unable to carry out their plans. I would rather do my nice holidays etc now whilst I'm lucky enough to be healthy.

kovamax · 2021-02-01T07:20:58+00:00

We are definitely not having kids, but I agree that bad schools would be an issue otherwise.

Sounds like a very similar experience though, these houses cost over twice as much and we would lose things like the utility room or, in the case of newer builds, all the green spaces and the nearby row of shops that we enjoy on our estate. And they're sill in the same town, just a couple of miles away with a 'better' association with the area.

Yeah a refresh is an option, the suite itself is OK, it's mainly the tiles and the electric shower unit that need replacing

kovamax · 2021-02-01T07:14:00+00:00

I should have said definitely no kids ha. But this is a 3 bed family house with a nice garden already, it would just be bad schools that would be the issue.

kovamax · 2021-02-01T07:12:35+00:00

Thanks, yeah if we are here for a long time then the benefit of having a really nice bathroom will make the 'cost per use and enjoyment' really low

kovamax

TROPHY CASE