I suspect the urge to move house is actually the urge to move ‘away from your mum’???
The trouble is, where you go, she goes…
If you did move, how much time would you actually get to spend with your friends?
All that said, it is a difficult call to make. Why not, at the very least, do a ‘Feasibility Study’ that sets out the actual costs etc, so that you know just how much it would take to wake up ‘in a new house’. That might give you more help in making a deision one way or the other.
The trouble is with ‘waiting it out’ for your mum to ‘set you free’ is that it might still take years of your life…so, yes, in that case, maybe moving and grabbing what you CAN, and NOW, is better than ‘hanging on’ as you currently are, endlessly ‘trapped’ by your mum’s care needs.
Do I take it that it would be impossible for YOU to buy the new house, and it requires funding from your mum’s house to buy it?
I’m wondering whether it might be possible to, say, remortgage your mum’s house (assuming she owns it outright?), and use the mortgage money to buy the new house with? Then, ‘owning both’ (with the mortgage company!), you could take your time in gradually ‘moving across’ to the new house (again, I’m assuming you would be ‘downsizing’, so the new house costs less than the current one, so a mortgage would buy it??) (depends what Loan to Value mortgage you could get).
It could well be possible to rent out your mum’s current house, to raise the income needed to service the mortgage on the new one! If you get an interest only mortgage, that will be far lower service costs. You would then pay off the principle when your mum dies and you can then sell her current house.
This method of funding the purchase of a new house is not pie in the sky! I’ve seen it done, and it does work if you crunch the numbers accurately.
All the mortgage company really want is to ensure that (a) you can cover the monthly interest payments and (b) there is enough equity in the mortgaged property to give them their money back when you sell (or they foreclose!).
Such remortgages are becoming increasingly common now, as older people seek to ‘release capital’ from their property. (DO NOT GO DOWN THE ROUTE OF EQUITY RELEASE - a total rip off!) (and far less flexible).
If this is at all of interest to you, let me know, and I’ll PM you -