My house has gained £30,000 in value. Should I realise that capital and move north?
Q I moved into my new-build house in late September 2020. After a long, coronavirus-related wait. It has gained approximately £30,000 in value and because of my age, I’m 51, I’m wondering if I should realise that capital and move slightly further north where property is cheaper, my deposit will be much larger and I’ll be nearer my family.
I’m in a growing town with an exceedingly high number of new-builds that are selling like hotcakes, so I’m sure mine would sell. Work moved me when they relocated their offices, so I had minimal costs when I bought.
I have spoken to my mortgage adviser to understand any penalties and implications of coming out of the help-to-buy scheme, and timing is everything but certainly a move next year would be fine.
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