Moneymakeover House sell & buy question

[ClubLemon]

Thanks to you all for all the above sensible advice and opinions. I do really appreciate it.

Just some points I didn't state before regarding the child's school, since a few people mentioning the impact on the child. The child school is actually in Dublin South too, which is very close to my work place. So the child's friends are actually located in Dublin South. Also both of us are in the commute travelling at the moment for work and school. The child is with me traveling in the car most of the days, with occasionally taking buses which took ages for the travel too due to the bus system in Ireland.

Secondly, some people are worried that the moving could affect the child's study due to the unstable movement and changing environments.

If we decided on selling, the plan is to put the house in the market at the beginning of next year 2026. So we won't move the house until at least the leaving cert exams are finished in June next year. So before the exams, the child is still in a stable study environment.
Also I will finish paying private school fees in the autumn this year. I will be able to save 3000 a month or more from the end of this year to the next Autumn when we want to move the house. So this will be some savings for moving costs, legal fees etc if feasible.

Hi Brendan, thanks for your cost information and all the figures. You mentioned the existing house might not get the price you expect and the new house might cost more.
I agree with you on these could happen. But I just asked an agent to do a house evaluation this March. This valve 750k was advised, however with a asking price at 700k to put on the market.
Also I'm confident that my house would get the expected price, as it is a 4 bed detached A2 house with a very large back garden and a sea view.
As the public sector would require to work until 70 years old. Of course I would have the option to retire early if I wish but will need comprises on the pension amount with early retirement.
Therefore it means that I will have to travel long commute to work for another 23 years at most.

I would be very concerned about 23 years travelling to work with that length of time on the road each day.
Thank you for the advice on going to gym or some activities on the way back home to avoid the traffic. But you know some days you just want to go back home to rest straightway after a long day tiring work.
Also the evening driving and travel would bother me too much, however driving 50 minutes to an hour in the most mornings is the most painful and stressful for me.

Many thanks.

 

[llgon]

But I recently had the thought that want to sell the current house and buy a house and move to Dublin 18, which is 10km to my work and only 15 minutes drive to work.

Why is Dublin 18 so important? Premium house prices and 10km is still quite a distance from work, especially for someone who has such an issue with commuting. Hard to imagine how you could drive 10km anywhere in Dublin in 15 minutes at rush hour, unless almost all of the journey is on the M50.

Just some points I didn't state before regarding the child's school, since a few people mentioning the impact on the child. The child school is actually in Dublin South too, which is very close to my work place. So the child's friends are actually located in Dublin South.

Important information that could have been included in your original post. Would be helpful as well if you could say where your spouse works and how many days per week do they have to travel?

 

[DannyBoyD]

Of course I would have the option to retire early if I wish

Key to retiring early is to reduce debt & increase wealth.

You know the more I read these posts, the less I think this is a commuting issue.

Your child will soon be an adult, maybe its time to think beyond the box.

 

[CharlieMac]

Value of pension:
Myself 15 years public sector pension so far, plus 3 years AVC for public sector.

You have a permanent pensionable public sector job on a final salary (?pre-2013) defined benefit pension and you can't image walking away from that.

With your child nearly reared and both of you relatively young I would say you have plenty of time to save for a comfortable retirement.

Why not investigate any option to find new work within a reasonable distance of where you now live? Even if it means taking a cut to your pay and generous DB pension... Even if you switched to the private sector you've still got 20+ years to build up a good DC pension from AVCs.

 

[moneymakeover]

Taxi 6 times a week
Would that be affordable?
On wholesale agreement you might get a discount

 

[misemoi]

Op I would be very realistic about d18. It is getting more and more congested, most new developments are not on the luas so car traffic had increased vastly. So I would study carefully your proposed commute if you intend on sticking with the same employer long term. See if public transport is an option. Look at all other options, including electric bike routes if that would work for you, even for at least part of the year.

And be careful that your employer has no plans to relocate...probably less of a concern in the public sector though. You don't want to uproot your life and then have the same problem in a few years when you are older. Again, if you plan to progress grades, is your future potential role in the same office ?

I would always have taken the view that you should first choose where you want to live, and then work the rest around that, within reason of course. It sounds like you have the first part, and I would say do a full analysis of your career options based on how happy you are there. When our family faced similar commute burnout, we looked at the jobs and not the community or home we had built. But also there is a life change when you will be empty nesters, so if you are finding your current location less attractive as a couple than it was as a family with kids, the move might work on a few levels.