FTBs need advice on this house!

poppysarah

GSXRCarlos wrote: »

I'm on a 40 year mortgage

Why?

(Sorry that's too short apparently)

screamer

Carlos, I've just been reading your other posts.

Don't give up on PoF. It's where I met the man of my dreams!

screamer

OK fans, update. Not sure if it's good or bad though.

Have just had a phone call from the EA and apparently the new vendors are having difficulty finding somewhere that they like and have decided not to formally accept our offer until they have found the house they like in their price range. They are technically accepting our offer and are looking for somewhere to live as we speak but as they are a retired couple they don't want to go into rented accomodation and spend what money they have raised from the sale of the house. Very understandable and I don't blame them!

The reason I see this as a downside is that I know roughly what they want from a property and there really aren't many of the kind they like around, and especially not in their price range (no mortgage for them, just what they get from the sale of their house) so god knows how long it will take them.

So, from other people's opinions, is it worth hanging on or should we try to save a bit more money for a larger deposit and go for a different house? Apart from a 3rd bedroom, which wasn't essential anyway, the house has everything we want! Garage and garden are essential , as is a large living room to accomodate the ridiculously MAHOOSIVE speakers that OH has. Selling the speakers are not an option btw, I'm not having another argument about how those speakers alone are affecting our house hunt lol

Are we right to still be optimistic?

GSXRCarlos

poppysarah wrote: »

Why?

(Sorry that's too short apparently)

The house needs work, i've done it to keep my repayments down while i do it back up.

TBH, i've got a £70k mortgage on a property that should be worth £100k (min) so i'm not too worried

screamer wrote: »

Carlos, I've just been reading your other posts.

Don't give up on PoF. It's where I met the man of my dreams!

So you're following me around then? Yey, i have my very own stalker :T :j

screamer wrote: »

OK fans, update.

There's no harm in continuing to save, and keep looking.

Might i suggest that you give them your details, and ask them to ring you in a months time, that way you can go about your search, and still have this one in the back of your mind?

I know what you mean about speakers dictating the property.

When my ex and i were looking, any property had to have drive, garage and access to the back so i had somewhere to put my motorbike and work on it.

That meant we had to ignore half of the nice houses we saw

screamer

Hi folks. New update. Getting interesting for us now!!

After calling the EA again, they have called the vendor and we have an explanation for what's happening with the vendors, but it's looking good.

They have many properties lined up to see and are optimistic about a couple of them. They found a property they liked and could afford but after viewing they decided it wasn't for them. They now have another 6 viewings lined up for other properties and are doing all these this week, 3 of them today. Now the reason they haven't officially accepted our offer is because they want to see which one of these properties they fall in love with (by the end of the week) and will officially accept our offer when they have had an offer accepted on the house they like.

On a plus side, we know EXACTLY which properties they are going for and I know they'll love at least 2 of these properties, they'll just have problems deciding which one they want the most. We were going to view the exact same properties but they don't have garages so we crossed them off our list.

The vendors have told the EA that they are happy with our offer and they want to sell to us and are working as fast as they can to find another house. This is good I think.

OH and I are so keen on this house that we have told them we will wait a few weeks as that way we can save even more money and go on holiday without having to worry about anything. As long as we're not still hanging around in 3 months time we're happy. It was at that point that the EA told us that they're hoping for 3 weeks to move on, not 3 months, and with no mortgage for them to worry about, it takes a lot of time off the process of their house buying.

So, I think it's safe to say we have bought a house.

WA HOOOOOOOOOOO!!!!!

poppysarah

screamer wrote: »

So, I think it's safe to say we have bought a house.

Calm down! Long way to go yet!

ess0two

screamer wrote: »

Hi folks. I'll answer all your questions :-)

Sandbeds, Keighley- OH wasn't keen. He hates Keighley and although I'm not local, I've seen enough "about my place" maps now to know Crossflatts is the same distance from Keighley as Sandbeds is. No point trying to make that very clear though. He's noyt happy about the area and that's as far as we have got in talking about it!!

30 years mortgage- Again, not my idea. I think he's silly putting an extra 5 years on it but that's his choice. I've tried telling him that it's basically an extra 5 years of interest to pay but it makes no odds. He has his ideas and he sticks to them (stubborn, just like his dad)

Kunekune, Thanks for your little piece of advice. The only benefit for me, apart from it being nice and quiet, is the central locality and of course the canal. We don't have kids and are not planning to either, but we do have a dog who I take out for really long walks whenever I feel well enough. I'm looking forward to having loads more places to walk. The transport links are important too as I'm not allowed to drive and doubt I ever will be.

Unfortunately, no phone call as yet to say we have definately been accepted, but we've got everything crossed. The suspense is killing me!!

Thanks though to everyone for your advice, especially the locals who can tell me things I don't know about this place :-)

Carlos, good luck with yours hunni. You done that bathroom yet? lol

Reading your replies in this thread..........do you have any say in buying this house etc.
Your point about the extra 5yrs on the mortgage needs emphasising more from yourself.

GSXRCarlos

Good point raised by squirrel, but good luck all the same and i've got my fingers crossed for you ;o)

Manual_Reversion

Screamer, forgive me. I have to ask you this:

Hometrack website shows two houses selling on that street; one in early 2007 and the other towards the end of the year. They are numbers 13 and 42 and sold for £124k and £125k respectively. Given that this was the market peak, and we are now around 20% off peak, are you confident you're not overpaying?

Regards.

screamer

To answer your questions.

Yes, the choice of house/area/etc is mine also, but OH is the money earner, and it's his money that's paying the deposit. I'm not from this area so his local knowledge is far better than mine therefore his opinion will always count before mine. Not a problem as far as I'm concerned. The same applies to the mortgage. If we were to split up (which neither of us are planning on) I need to be reassured that he can still afford the mortgage and bills. If he wants a 30 year mortgage then that's totally his choice.

Why are they moving? I've actually already answered this question indirectly. They are a retired couple approaching 70 and want to live somewhere without stairs. The properties they are looking at are bungalows, which limits their search somewhat, but also explains why things are taking the route that they currently are. I didn't want to reveal too many details about the couple but the reason we chose not to look at the bungalows which they are viewing is the lack of a garage. We need space for 2 cars and a motorbike, they don't :-)

In OH's defence, and looking at my other posts I think I've been a bit unfair to him. He knows transport links are important as I'm not allowed to drive. He's made life easier as far as shopping and amenities are concerned and well, the pooch belongs to me and he knows absolutely nothing about gardening so the garden is my thing too. I think this is all quite reasonable. The only sacrifice I've made really is a third bedroom, and considering he has the dining room for his media centre/geek, I have my spare bedroom. See, perfect! :-)