Architectural Designs

Should I live below my standards for 4 years to save for a house?

Can anyone help me - unsure what to do. At the moment I live in a brand new city centre apartment, close to everything I need. I work from home so can move anywhere. I am wanting to save up a deposit to buy a house. I have 2 options, either stay where I am (paying £550 a month for an apartment) and save around a £10,000 deposit - or my second choice is to move 18 miles away to a small market town in the countryside and rent a 2 bedroomed victorian house in the market place surrounded by shops. It is only £350 a month, which will allow me to save an extra £10,000 on top of the £10,000 I was planning on saving, but would mean moving away from all the luxuries and convieniences I have living in a city centre. The property is small, 2 rooms down and 2 rooms (box rooms) upstairs, and a tiny kitchen with the bathroom off the kitchen. It is clean, but an old victorian property overlooking the main street (door onto pavement) and rear back onto churchyard.

Public Comments

1. when that situation was for me ( a few years ago now) i moved to save money, im so glad i did now, i have the place that i want now. if you decide to move to save the money, don't look at it as a move to small dead beat little town, think of it as an investment for your future, because thats exactly what it is, there is no gain without pain.
2. one can only make personal decision. depends on how much you want a home of own and enjoy all that is on offer at moment. many make long term commitment to lower expectations in hope of achievements later . eg apprenticeships, studying for a degree etc. all have low pay and other issues for what can be quite a time but all offer a way of higher end earnings thus achieving our goals. personally id take a 2-3 year suffering on basis of getting a real step up in world and a rung up ladder to what I wanted. good luck.
3. You say you work from home, therefore your work surroundings have got to be congenial. Would you be happy in the Victorian house - even though clean, is it the sort of place you would be happy to sit and work in every day? What about friends? Would they still be nearby, although 18 miles is a lot would they be happy driving back after an evening socialising? Perhaps you could make some smaller changes and save a little more but over a longer time.
4. If you move, you will get the house you want quicker. Even driving regularly back to the city shouldn't cost anything like £10,000 in petrol, and you will probably find that most of the things you want will be available in the market town anyway, so if you do move, you are saving no matter what. If you think the market town is too far away, what about one of the suburbs in your present city? Perhaps for the same lower rental, but closer to everything you have now. Or look for a property in another town with all the desired facilities. Or you could stay where you are and look for a flatmate who would be gone all day, leaving you free to work unhindered, and save the rental he/she would pay, towards your house deposit. I moved to a country town many years ago, and wouldn't go back to city living now, for any money.
5. it depends - which do you want more? the lifestyle or the savings?