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Will it really ever be our turn’?

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Will it really ever be our turn’?


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Message posted by LouiseJames on 17 March 2008 at 8:27pm - IP Logged Legal Disclaimer Corfu Photos
LouiseJames
Corfu

Hi everyone and thanks for reading - hope I don't bore you too much.  My mind is all over the place (could be hormones as I am pregnant and emotional)

I'm about to go and secure a fixed rate 5 year deal tomorrow at our bank on our current mortgage on our house in the UK - its a good deal (considering) and I really should do this as stability for our family which is my husband, myself and my 2 and a half year old son along with the unborn baby.

If I get this deal it means there will be no room for saving for our dream place in Corfu - my husband thinks that at the rate we are going we will clear our mortgage in approx 10 years and then it will be 'our turn' and that it will happen but the prices are really shooting up in Corfu unbelievably so - I don't know what to do ...................

Should I have 2 mortgages - one in Corfu and one here over a long period of time or as my husband says - we are lucky enough to be able to afford to go to Corfu several times a year and pay off the house sooner.  I should think of the stability of my family first but I am so tied to Corfu that I am on this website several times a day given the chance.

I was lucky enough to call Corfu my home in the summers of '99, '00 and '01 when I lived in Ipsos - it was in 2000 that I met my husband in Shooters - we both love the Island and really want a place there to call our own - should we keep playing the lottery and hope - I don't know

Sorry if I've rambled but tomorrow is D-day for the fixed rate.

Many thanks

Louise

 

 

 



              

Message posted by LouiseJames on 17 March 2008 at 8:28pm - IP Logged Legal Disclaimer Corfu Photos
LouiseJames
Corfu

 

 


Message posted by Lynn 2 on 17 March 2008 at 8:46pm - IP Logged Legal Disclaimer Corfu Photos
Lynn 2
Corfu
Much as I would hate to squash anyones dreams, and I do  feel for you - I dream of a place in Corfu too, my advice (for what its worth) would be to secure your future in the UK first and have a long term plan to buy in Corfu - will ther be enough in your kitty for holidays in the meantime ? I think you would also find life different over there with two young children, so keep dreaming and planning but enjoy your babies whilst they are young too and don't wish your or their life away to much!!

              

Message posted by Ray and Gisela on 17 March 2008 at 9:09pm - IP Logged Legal Disclaimer Corfu Photos
Ray and Gisela
Corfu

Hi Louise

I would put all my savings into the house in England and pay of the loan as soon as I could then think about moving to Corfu befour my children grew up and were to old then to move away from frends .

Think what would your house be werth in say Five years. More than a house on Corfu I would think.

Think would you like to live their all year round.

Think if you only whent their say three times a year would that be cheaper if you brought a house and rented it out, that is if you could rent it out.

I am allmost sixty and I have dreamed of living on Corfu for sumtime now and hope to be their soon your time Will soon be their you are still young.

You could think about buying a small peice of land, then when the time was right sell up and build your dreame house on it.

 All the best with the new baby and sum day Living that dreame

Ray&Gisela 



              

Message posted by LouiseJames on 17 March 2008 at 9:10pm - IP Logged Legal Disclaimer Corfu Photos
LouiseJames
Corfu

Yes there will be enough for holidays to Corfu.

I didn't actually mean that we would be up sticks and leaving the UK totally - it would be a second home a home from home - I would live in UK with Kids and husband and bring them up here (I could not do that to my parents - they don't fly - mum has once but dad never will) I would like a base in Corfu and to spend as much time there as possible.

I spent 3 summers in Corfu when I was younger and I had the most amazing time - I was in Ipsos and have a lot of friends in Spartillas and Barbati - I just want a place to call my own - it doesn't have to be big or anything - just a base really.

How sad I've just been sobbing to my husband about it - luckily he understands the old pregnancy hormones that are out of control.

 

 



              

Message posted by maggy on 17 March 2008 at 10:08pm - IP Logged Legal Disclaimer Corfu Photos
maggy
Corfu

Louise,cherish the good times you had in Corfu in the past,but don't try and recapture them!Live for today and all the good things ahead of you.Your UK mortgage will be paid off in the twinkling of an eye,and before you know it your dreams of Corfu might start to come to fruition,but don't be too focused on that one dream,as other dreams might be missed.


Message posted by Bill on 17 March 2008 at 10:10pm - IP Logged Legal Disclaimer Corfu Photos
Bill
Corfu

Hi Louise

Ooo I do remember hormones in pregnancy - awful things! 

The thought of having 2 young children and 2 mortgages makes me shiver.  Owning property isn't the be all and end all.  As your husband says, with only the one mortgage you can pay it off more quickly and still afford to spend plenty of time in Corfu.  If you have 2 mortgages you risk twice as much financially (not to mention your sanity). 

You're worried about the property prices rising in Corfu.   I suppose they are increasing a little, the cost of building materials have certainly risen.  But having lived here for a year or so now I can't say that they've really shot up.  Property here is, in reality, worth what the vendor will take for it.  I know that sounds silly, but in the UK you can say that, for instance, one 3 bed semi in any given area is worth much the same as the next.  Here it can be very different.  3 years ago we bought an old 2 bed cottage. Earlier this year we bought another 2 bed cottage, 100metres away from our existing one, with similar floorspace, facilities and in similar condition, and paid around 1/3rd of the price we paid for the first one!

When the time is right, you will find your corner of Corfu if that is what you still want by then.  In the meantime my advice is get your existing mortgage paid up asap, enjoy motherhood (and believe me, having 2 children is a whole different ball game - just the one is childsplay by comparison!), have some wonderful holidays and don't put yourselves through more stress than you need to!

Good luck with the new addition to the family, and the fixed rate!



              

Message posted by sc on 17 March 2008 at 11:23pm - IP Logged Legal Disclaimer Corfu Photos
sc
Corfu

Off course it will, someday be your turn, if that is your dream. However I think that at present you will be best to spend your money clearing your morgage, you are not wanting to re locate at present and can find locally many property's to rent for 'precious time in Corfu' either through a TO or through finding your own. However if you find you do have money available I would suggest you buy land with a view to building or selling in the future. We bought our land about 4 years ago at a very good price, land of the same size and in the same area had tripled! So you really cannot go wrong. We have had our house built on it and last week moved here.

Sylvia



              

Message posted by emma8370 on 18 March 2008 at 1:24am - IP Logged Legal Disclaimer Corfu Photos
emma8370

Dear Louise

Have you ever heard of an Offset Mortgage.  You have a savings account attached to the mortgage which helps to offset the interest on the mortgage and may pay it off quicker.  If you are saving for a place on Corfu you maybe able to kill two birds with one stone so to speak. When the mortgage is over you will still have your savings for the place on Corfu - just a thought an in no way to be taken as any financial advice :-) just have a look around and get a Mortgage Adviser at a Building Society to tell you more about Offset Mortgages.

Try your local Yorkshire Building Society.

Emma x


Message posted by Guest on 18 March 2008 at 9:20am - IP Logged Legal Disclaimer Corfu Photos
Guest

17 years ago we were offered land to build on the island which ay the time seemed a dream...

our kids were growing up and monet was tight ,and we kept saying ,, welle do it when we get older..

we have now done it , and god do we realise we should have done it 17 years ago weve missed so much time we could have had their .we had holidays to exotic far away places Australia /Thailand /India etc and looking back altho we had wonderful times that money we had spent would have bought our dream 17 years ago ..

But I can pontificate all day about what we have now but I only wish when we had the first thought about it we had done it..

But we all learn by our "youthful" experiences

Good luck with what ever you decide theres still time for a week maybe?

 




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