Episode 3: Andy and Sarah

“We’d love to be able to shut the door on work – and have more space for the family.”

Andy and Sarah have been married for eight years and live with their three young children. Like so many parents, they run a busy household with lots to juggle, including their day jobs working for a music trust.

But finding that work-life balance isn’t easy for the couple. They both work from home most of the time and with no dedicated workspace, this can be disruptive. They’re keen to buy a bigger property with an extra room for work, as well as a larger garden for the children.

Tayo's take

"In this episode, I met with Andy and Sarah. They’re planning on making that aspirational move to upsize their home – after realising they need more space to enjoy family time, and work productively. Sarah has a makeshift office on the landing – while the living area has turned into a storage room for their instruments."

Moving into a bigger property could help solve their problems. Yet when it comes to taking this step, there’s a lot to consider.

Here are my top three tips if you’re thinking about upsizing:

1. Get the most out of your current property

   Little things like tidying your home, mowing the lawn, or cleaning the windows could make a big difference to its sell price. And of course, the higher the sell price, the bigger the deposit you might have for your next home.

2. Calculate the cost of moving

   Make sure you’ve factored in all costs to avoid disappointment down the line. This includes anything from your deposit to stamp duty – even down to the charge of removals.

3. Check if it's affordable over the long term

   Naturally with a bigger home, your monthly mortgage and bill payments are likely to go up too. Before you make your move, you need to make sure you can realistically afford it – both now and in the future.

Upsize and save for the future – can you do both?

Skipton’s Savings Expert, Andy Messenger

Upsizing your home is an exciting prospect – whether it’s for a bigger garden, your very own utility room, or extra bedrooms. But before making any decisions, it’s important to consider what this step might mean for you financially.

You want to be sure that with a potentially bigger mortgage, you’ll have enough money each month to save for other financial priorities now and in the future. Things like a new car and family holidays – not forgetting bigger, long-term goals like retirement or your children’s future.

This is where conversations over your money are worth having.

By chatting to us, you could discover more about your overall financial situation – what you’d like to achieve from your money now and in the future. And we can look at possible options that could get your money working harder. This chat will hopefully give you a better idea of the property you could afford – giving you confidence over your next steps.