What would you do?

[MikaylasMummy]

We have been living in our unit for 3 years.we are very comfortable here and planned to stay until we had saved a deposit for our own home but have just found out the owners are selling up so we have three months to move.our real estate will happily place us in any of their rentals BUT there is not much around that we like.
My dad has a big house where he and his gf's bedroom and another bedroom is upstairs plus their onsuite.then downstairs there is their main living area kitchen laundry etc another bathroom with bath and two bedrooms that lead to another loungeroom.i am have half a mind to ask him if we can stay with them for 6 months in which time we have the ability to save a five percent deposit,which hopefully given oh's wage will be enough to get a loan for a home.the thing is we could probably only fit out bedroom furniture there and some toy and have to store the bigger toys at my mums and inlaws and put some furniture in storage.
What would you do in this situation?it is likely that It would be at leaš another two months after saving the deposit that we did a house and move out.my dad and gf are easy going and I would have no problem living with them it's just the splitting up of all our things and not having our own house to ourselves which we have never done before.
Just after opinions/advice =)

 

[maryp0ppins]

Its VERY hard to get a mortgage with a 5% deposit,i would not bank on this. How much time is left on your lease? I believe the new buyers have to honor the lease until the end and then not renew it. We private rent a flat,it was for sale when we signed our lease so i looked into what would happen say someone bought it and thats what i was told. Our landlord took it off the market as soon as we paid our deposit.

 

[MikaylasMummy]

Our lease is up around now I think I just wasn't thinking about it cos every year we renew for a year.they have given us three months which is a lot and over the lease ending time and have also said there will be no fee if we find a place earlier than the lease endometrial and move before hand.they are being very fair about it.
Oh is going to go to a mortgage broker and look into the 5% loan.we could possibly save $30,000 if we add next years tax return and put a bit extra aside and we would be going for about a $350,000-370,000 loan.it may be possible as oh is in a very secure and high paying job for a government company which he has been at for years.but this is all circumstantial as it relies on our likelyhood of getting a loan on that deposit an whether my dad will let us live rent free for six months.if we can't get a loan on that deposit we could maybe save up that $30,000 then in six months move to a rental putting that money in a term deposit and adding what we can to it while renting which will still be about $20,000 over a whole year.so the plan doesn't wholly rely on being able to buy within the six months

 

[MikaylasMummy]

How autocorrect turned ended into endometrial I have no idea.lol

 

[Tegans Mama]

If you think you'll be ok living with your dad I would go for it

 

[Princess Lou]

I would go and live with you Dad. A few year ago my hubby and I were forced to leave our apartment and moved back to my family home for six months whilst we sorted things out and arranged our move to another country. We just took the things that were important to us and left everything in storage. At the end of the day? Is your sofa that important that you will need it with you all the time? What's six months compared to the rest of your lives?

 

[MikaylasMummy]

No I definatley have no problem putting things in storage.but we could probably manage siphoning our furniture between our three parents house with the exception of the lounge as its so big.which I don't mind selling and buying a new one when the time comes as it is so big it will only fit in the biggest of places.thanks for your advice ladies!i just have to convince oh as he really doesn't ever want to live with parents again.i keep saying its just 6 months!it will fly by

 

[maryp0ppins]

Sorry didnt realise you wernet in the UK,things re mortgages and loans and lease rules will be different. Yes i would go and live with your dad for a bit.x