We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
potential problem with dream house
wigglyworm
Posts: 12 Forumite
my girlfriend and i have found a house we like but the trouble is it is leasehold
with 73 or so years left.the price of the house is more than we can afford but we could negotiate the price down, the house is on a popular estate and would sell quick and it has only just come on the market.
if i had not done any research into lease extentions i would have made an offer straight away as i am sure somebody else will because it is a nice area.
finally my question, is it all doom and gloom about it potentially costing us
000k's later on or should we just walk away?
i would also like to point out i am a ftb and already frustrated by this whole house buying thing (sorry about rant)
thanx
with 73 or so years left.the price of the house is more than we can afford but we could negotiate the price down, the house is on a popular estate and would sell quick and it has only just come on the market.
if i had not done any research into lease extentions i would have made an offer straight away as i am sure somebody else will because it is a nice area.
finally my question, is it all doom and gloom about it potentially costing us
000k's later on or should we just walk away?
i would also like to point out i am a ftb and already frustrated by this whole house buying thing (sorry about rant)
thanx
0
Comments
-
i had a similar problem. the first 33 years the ground rent was £33. the next 33 years £330. to buy the free hold was 10x the ground rent. the first 33 years had just past when i looked at the house so the free hold had gone from £330 to £3300!!! needless to say, the vendor would not pay this and on mentioning the fact if he had bought the free hold a few months ago would have saved he a lot of money, couldn't have cared less! i didn't buy it!0
-
I think if it's a house you're buying, you can buy the freehold, not just extend the lease.
Ask the vendor to get a price for extention/purchase from the freeholder and renegotiate on the asking price from there.Everything that is supposed to be in heaven is already here on earth.
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.3K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.2K Work, Benefits & Business
- 603.9K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards