Archive for January 15th, 2009

Life: To sell or not to sell…

January 15th, 2009

After 5 months of “temporary” living in Harrow (instead of Leicester), I’ve now really got to make up my mind. Should I continue living “Down Souf” and sell the Leicester manor, or end our lease in the Harrow homestead and move back to Leicester and commute daily to the Big Smokey (London, not our kitty!).

Benefits of selling up: Around £18,000 to £20,000 “cash in the bank” (after mortgage repayments, loan repayments, selling fees, redemption fees, Home Information Packs, Conveyancing fees). Saving of approximately £1,300 per month in mortgage and loan repayments and life insurance [for the next five years] and £66 in Council Tax and £100 in utility bills. Total month savings: £1,466.

Benefits of going back to Leicester: Saving £1,400 per month in rent, £288 in Council tax, at least £93 in utility months. Total monthly savings: £1,781. Family, friends and generally a bit cheaper. Live in house I own.

Disadvantage of going back to Leicester: Commute goes up from 10 minute walk and 24 minute tube journey (34 minutes) to 15 minute taxi/car journey, 1hr 30minute train journey, 3 minutes tube and 5 minute walk (1hr 53 minutes). Price goes up from £148 per month to at least £760.20 (£933.20 including parking). Smaller property. Household maintenance expenses.

Net “gain” in moving back to Leicester: £996.00 per month
Net “gain” in staying where I am: £1,466 per month + interest on savings.

Those figures look pretty damming and conclusive to me. So much for thinking it’ll be a lot cheaper to go back to Leicester.

gamy-dance
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