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Which is best: Perfect house, move into straight away? Or a bargain needing work?

clare1662
clare1662 Posts: 3 Newbie
edited 17 August 2009 at 6:17PM in House buying, renting & selling
Hiya, interested to know if people prefer to buy / have bought houses that need some work doing to them, but which could be a bit of a bargain, VERSUS the pristine, perfect, move in straight away, don't need to do anything property in lovely condition, well presented.
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Comments

  • Japtastic
    Japtastic Posts: 43 Forumite
    Do you have the time/skill to do the updates you want or know of reliable people that can do it for you?
  • dander
    dander Posts: 1,824 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    I bought a house that didn't NEED much doing to it, but it still wasn't my taste so I've still ended up doing lots. It's only really worth paying more for a house in pristine condition if you really will be happy to live in it exactly as it is.
  • not_loaded
    not_loaded Posts: 1,187 Forumite
    Part of the Furniture Combo Breaker
    I think overall you’re just looking at different property customers here.

    I’m currently selling my super ‘move in and do nowt’ house. In a few weeks a rather nice fixer-upper three doors away will come on the market.

    My viewers won’t be their viewers.

    By the way, I’m the fixer-upper buyer. You know the type, covered in plaster dust, with brick dust in the hair.

    Just not so much hair nowadays…:)
  • Nikki
    Nikki Posts: 775 Forumite
    We prefer a ones that need work, even when we are totally fed up of doing it. It just depends on your preference, we tried to avoid buying a house that needed work after spending a good 4 years doing up our last 2 houses but just couldn't resist another:D. This time it's different as we are in our long term even forever home and I am happy to live in it as it is, until we have the time and money to do the work and this time we are going to do exactly what we want with it!!
  • Jomo
    Jomo Posts: 8,253 Forumite
    Depends on the decor, if it is to my liking then why not, saves all the fuss!
  • jenny74
    jenny74 Posts: 497 Forumite
    As Jomo said. When we sold out house in April (it feel through) we looked at both and decided on the fixer -upper in the end. Since then we have seen a house decorated to our taste, which is in prestige condition and would definately go for that one.
    I love giving home made gifts, which one of my children would you like? :D :A :D
  • Guitar
    Guitar Posts: 157 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    A ‘move in and do nowt’ house would be decorated to some else's tastes. I also tend to feel these types of house have been 'property developed' and can't shake the feeling I'd be paying over the odds because someone's been watching property !!!!!!.

    A fixer-up feels more satisfying, it'd be my home because I made it my home.
  • Jomo
    Jomo Posts: 8,253 Forumite
    Guitar wrote: »
    A ‘move in and do nowt’ house would be decorated to some else's tastes. I also tend to feel these types of house have been 'property developed' and can't shake the feeling I'd be paying over the odds because someone's been watching property !!!!!!.

    A fixer-up feels more satisfying, it'd be my home because I made it my home.

    Agreed but it depends on whether you are a DIY person or not and personal tastes are shared, not always unique! I would expect the price of the house to accommodate the work I would have to put in, vice versa I would expect a house already done up to be more expensive.
  • Curlywurli
    Curlywurli Posts: 639 Forumite
    Our first house needed an awful lot of work, we got it cheap because it needed so much, but we preferred to spend that amount of money on a two bedroom house rather than a flat. We ended up doubling the value of it, but then property prices were different.
    The next house we bought (current one) needs work. It was buy this or a house in a slightly nicer location for £30,000 more, but that still needed work. This one's taking longer to do up (with doing it around two little children) but we are getting there. We have said that next time, we're going to buy a brand new house, but we probably won't. We don't see the point in spending a lot more on a house that we will probably change anyway.
    Do you have the time and the money to fix it up? Do you know reliable workmen or would you do it yourself?
  • I'd prefer one already done up to one needing work. I couldn't handle the stress of living in a building site, and I have no knowledge of DIY whatsoever. I would get overwhelmed and upset after a couple of days probably.

    Although what would be ideal is one sort of in the middle. I'd like someone else to have done the kitchen, straightened and painted the walls and ceilings, replaced any old windows, put decent flooring in and insulated it really well. Then I'd like to buy it and put a brand new bathroom in, cos I'm a bit particular about bathrooms.
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