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should we buy this property?

Weve found a bungalow we really like inside its amazing!

someone had already offered on it and it was moving along but now they have dropped out.

This is because they found out that a planning application was going through for, four 2 bed semi- houses,1 detatched and parking for 10 cars on some old buildings and waste ground directly behind the fence boundry of the three bed semi bungalow.

acssess will be in the road alongside and a house will be demolished to make way for this.

we did put an offer on its up for 219.950 i think this alot concidering this new development looks likely. if this developmant was not in place i would have snapped this up straight away.

however my other half put an offer in of 215.00 which is really stretching us but it is in an area we really desire. this offer has been turned down at the moment, though she said she wants atleast 218,00.

she has other people intrested i have big big concerns about buying this property as we havent much idea what its going to look like and what impact it will have on us if we bye it.

my other half said it wont be a big problem..but im also thinking of the noise of the building work going on. and surely this would devalue the property.

Any one have any helpful thoughts on this for me before i have another sleepless night? :confused::confused::confused::confused::confused::confused::confused::confused::confused::confused:

Many thanks in advance.
Happiness is not having what you want...but wanting what you have!!!
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Comments

  • Have you seen the site plan? Can you tell if you'll be overlooked, more than now - that will reduce future values.

    In some ways, it might be viewed as a good thing to know what is going to be there. As long as it isn't badly done, at least you know they won't re-industrialise the site or something.

    But living through the noise, dust, etc is not something I'd relish.

    The insides of any property can be replicated with some time, effort and money.

    You cannot replace a 'quiet' back garden that becomes noisy from extra neighbours. You cannot reintroduce a dark night sky, when extra light pollution hits your bedroom windows.

    She's mad not to take less than £5k under asking. Hold out until after Xmas.
  • Fire_Fox
    Fire_Fox Posts: 26,026 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    I agree with Cannon Fodder, buy another house and do it up to the same standard as this bungalow. Being in a built up area will reduce the value of this property substantially, and the noise and dirt of a development nearby is not to be underestimated. What are sold prices of similar properties in the street? Presumably the one due to be knocked down has recently completed?
    Declutterbug-in-progress.⭐️⭐️⭐️ ⭐️⭐️
  • adg1
    adg1 Posts: 670 Forumite
    polomint wrote: »
    ...i have big big concerns about buying this property

    Then I probably wouldn't buy it. There will be other houses and if you are stretching yourself already then you'd have less money to make living there enjoyable if the development turns out to be a nightmare.
  • poppysarah
    poppysarah Posts: 11,522 Forumite
    Plenty more houses available...
  • If just one of you has doubts, then the property is no good for either of you. This should work both ways of course - if OH does not like something you like very much, thta too should be an end to it. It takes 2 to agree to make this right.
    Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam
  • lincroft1710
    lincroft1710 Posts: 18,361 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    a planning application was going through for, four 2 bed semi- houses,1 detatched and parking for 10 cars on some old buildings and waste ground directly behind the fence boundry of the three bed semi bungalow.
    Access will be in the road alongside and a house will be demolished to make
    way for this.

    Is this the reason why the vendor is selling?????

    She's mad not to take less than £5k under asking.

    And you would be equally mad to increase your already over generous offer. Adjacent building sites or potential building sites are bad news. In the present climate work can drag on for years (an office block to apartment block conversion near me has being going on for 2 yrs and nowhere near complete). Don't underestimate noise, dirt, dust, congestion of having a building site for a neighbour nor how close new homes will be.

    Put this one in the "maybe" pile and continue looking.

    If you are querying your Council Tax band would you please state whether you are in England, Scotland or Wales
  • trumpton
    trumpton Posts: 1,070 Forumite
    Location, location, location. Okay, well not always. But if it is really the interior of this house that grabs you, I would look to replicate that in a different house. You can often look at plans online now, so have a good look. Specifically, what height will the houses be? How close to your boundary?

    It may be that a few houses is actually nicer than a plot of waste land but be aware that they can reapply for planning - eg. planning granted for 4 houses, they get it and then reapply for 6. For me, the price would have to be a pretty good deal to overcome the building issues.
  • PasturesNew
    PasturesNew Posts: 70,698 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    I'd buy it based on the fact at least I'd know the land wasn't going to be sold off for a 6 storey block of 50 flats.

    At least you know what's going to go there.
  • polomint_2
    polomint_2 Posts: 372 Forumite
    edited 2 December 2009 pm31 9:47PM
    Thank you for all your input and thoughts. It is the uncertainty of the building site, what it will look like, what inpact it will have and how long it will take which is such a worry. The vendor said the plans show that it is a two story that the garden of the properties will back on to our garden and the bedrooms of said propertys will over look the garden of the property (where at the moment you are not over looked by anything at all!)

    she has five people to look at it over the next few days and the EA said its likely that if no one gives her what she wants shemay consider our offer!
    Happiness is not having what you want...but wanting what you have!!!
  • If someone else offers above you, then thats it, you are already stretching yourself, so let them have it.

    If no-one makes an offer to beat yours, and the EA comes back to you, then you have to think why would 5 'interested' people all fail to see potential, if there genuinely is some there...

    If you love it, drop the price £2k for each week she takes to come back to you...!?!
    Act in haste, repent at leisure.

    dunstonh wrote:
    Its a serious financial transaction and one of the biggest things you will ever buy. So, stop treating it like buying an ipod.
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