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Time to Consider Moving Out of Central London

5th Dec 2012

Living in central London has always been fun, however, with the cost of living increasing, and my expenditures rising, it may be time to consider moving. There are both advantages and disadvantages to living in the city, and I have lived here for over 10 years, and seen so many changes. The girls are settled here, but I have to consider what is right for my family and my challenge of saving 10K this year.

Living outside will create the dreaded commute

The biggest point to moving somewhere cheaper is that everything I manage to save will need to be spent on commuting every day. The moment you leave the comfort of the city centre, you need to find a way to travel to work that will not cost a huge amount.

As travelling expenses continue to rise, and the government sees no problem with increasing the costs every year, moving out of the city could be a costly mistake. At the moment, I have the choice of whether to cycle walk, or use public transport. If I move further away, these choices will become limited and cost me more every year.

London has become one of the most expensive cities in the world

The girls and I love having everything so close by, and being able to do such a huge array of different activities. However, this is beginning to come at a price, and things are getting more expensive every day. Thankfully I bought my house some time ago, and my mortgage is manageable, but even this is subject to change as the interest rates continue to go up and down.

Other housing-related costs such as utilities and council tax are also rising, which has made paying the everyday bills a struggle. As I read the report on BBC.co.uk regarding the most expensive property in London, I feel grateful that my little house is worth as much as it is, and if I decide to sell, it should go quickly without me putting in extra effort. Over the years, I have maintained it such that I will not have to lay a finger while selling it (this way it is easier to not use up all your savings at one go). I think getting in touch with local knowledgeable estate agents will be of help in this regard. They would be able to offer me the correct valuation of the property and help find potential buyers.

Once I have sold the house, I will probably consider moving to more affordable localities outside London. I have been considering Southsea in Portsmouth as an option. It is quite pocket-friendly and offers more laid-back living opportunities. I have done a quick online research which has shown me that the cost of houses, transportation, grocery, and gas are all within a more reasonable price range when compared to London. Plus, strolling on the stunning beaches of Portsmouth every morn and evening can add to the overall health and well-being. These reasons alone should serve as compelling factors for anyone looking to move away from London and into such a location. As for finding a suitable property, that part should not pose much trouble if one were to enlist the services of Estate Agents in Southsea and neighboring areas.

A quieter pace of life

As much as I enjoy living in central London, it can feel claustrophobic, and there are times when I wish I could take the girls somewhere quieter. The suburbs of London are more tranquil and appear to have a quieter pace of life. The house prices and commuting issues will still be high, but you will get more for your money. Perhaps if I find a property I really like, I can put up my current house for sale or rent and move to the outskirts (those looking to do the same can get started now). But until then, I shall continue weighing my options.

Hopefully, I could ultimately save the 10K that I have set my sights on, and I need to remain focused on why I am saving. Living further out of London will cut my overall costs, and enable me to provide a better life for the girls. I will need to take the time to consider several different options and decide whether it is time to move away from London.

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