Would you accept help from a relative?

kunekune

That's the conclusion we reached. We will, however, holiday very frugally this year even if the money is there, cos we don't want to seem to be living it up!!

kunekune

Ha ...

Our continuing experience of being the most unwanted buyers in West Yorks is continuing. The seller of today's house will not accept less than 195 on an asking price of 209 - yes, the asking price that has been unchanged for 9 months. We would have gone to 185 max, which I think was not unreasonable. Have indicated that no agreement is possible.

Now back to choosing between the other properties on our list (we really do want to get this underway - but will not spend more than we think something is worth).

zaphod_beeblebrox_2

Dont go buying a property 'just for the hell of it', its got to feel good

kunekune

Oh, the others are equally good - and cheaper as well. I'm a little sad about the one we tried for today but it was always touch and go whether they "really" wanted to sell. We started with "the best" ones, but they were also the ones we knew were least likely to buckle when faced with the archetypal cheeky offer. We're being practical, not emotional though, hence the list of equally satisfactory properties. School zones, price and bathroom facilities are just as important as ambience. You can make ambience. It was meant to be a kind of dutch auction, the only trouble is that no-one is playing, LOL.

hamblettamaud

sorry to be the odd one out here.

i recently bought my first house but i didn't need any financial help - the deposit just about cleared me out though. however, after contracts were exchanged i immediately decided i didn't like the house and decided to sell it - it was an old wreck of a place and needed loads of work and love and attention. my parents then helped me financially with decorating, renovating and installing new kitchen, and helped me by making curtains, stripping walls, painting everything and generally investing a lot of their twilight years fixing the place up.

i feel guilty about letting them do all this and intend to pay back all the money they gave me, or paid out on my behalf, for what amounted to a stupid mistake on my part. i know they will refuse to take the money back, but i will have to insist. i just want to get back to square one with them. even though they spent money on my house willingly i still don't want to take them for granted.

end of feeling sorry for self :'-(

QTPie

kunekune wrote: »

OhWe started with "the best" ones, but they were also the ones we knew were least likely to buckle when faced with the archetypal cheeky offer.

£185k doesn't seem too cheeky on a £205k asking price (that has been in place for 9 months). Although can't tell for certain (without knowing the pirces that similar properties are currently going for in your area).

Have you left the offer on the table?

QT

kunekune

No. Given their attitude, there didn't seem to be any point (they came back within an hour). We'd had doubts about whether they were serious when we visited - their reason for selling was that hubby had run out of improvements to make (he's a joiner), but they hadn't really thought about where they might go next. I think the wife didn't really want to move. Looking at it from their perspective, they have lavished a lot of money and effort on the house, but the fact remains that it is the most expensive house on the street and somewhat overcapitalised. We have two others we're interested in: one is smaller and has a bit of a wow factor, the other is bigger and would need some doing up but could be really nice.

kunekune

hamblettamaud, I do know what you mean! I was quite surprised when the offer was made, but it was in the context of some conversations I'd had with FIL at the new year about my concerns about our future security, given that OH is likely to only be working for another 3-4 years. We thought we were going to be a two income family through to retirement, we're not, and that alters a lot of things, not least how hard I'm going to have to work myself to maximise my salary and support the family. Rather than cutting back and getting a better work-life balance, I'm taking on whatever contract work I can get. I think he's wants to reduce that worry we're both going through, and a lower mortgage will do that. He knows that one of our reasons for buying now is to take advantage of low interest rates (given the general animosity towards banks, we are a little worried that their preferential staff mortgages will vanish) and also to have a secure home for our children before the whole secondary school thing comes up. I would be more concerned if it was ONLY the help that made a purchase possible, but these are houses we could afford anyway, it's more that we can now borrow less and repay faster. When it's over and done with (IF it is ever possible to find a seller who will sell, as I said), I'll be the first person ever to join MFW before exchange of contracts!

Edited to add: also none of us are young. FIL is in his late 70s, and financially secure. He sees this as something sooner rather than later.

Pee

You sound really sorted and sensible, all that about trying to live on one income and making allowances for increases in the future. I hope someone wants to sell to you soon.

zone

Yes take the help. Without help from someone probably half of home owners wouldnt be owners.