Unable to decide

jangor_2

Thankyou for reading this post. I am desperate for different pov.

I have been renting in a small village for two years which I love. I have now finally sold my own house but unable to afford any property in the village. The only house to come back on the market is a very small grade II listed cottage (on the market for a year, the last prospective buyer having dropped out due to insufficient mortgage). It does require quite extensive works but the owner is prepared to consider a lowish offer which would leave me with hopefully sufficient money to cover the renovations (I have not yet found a builder for a quote and will be contacting the Conservation Officer at the Council). I have been looking elsewhere but cannot find any enthusiasm to move to an area of which I have no knowledge and no contacts. I am of a certain age that it is not so easy to make friends which is why I love the village. This has left me in a quandary as to what to do, either buy perhaps a better property in not such a nice area or buy the cottage in the village where I am happy. I am having many sleepless nights.

bigbigmamamoo

how extensive is quite extensive?
can you live in the cottage and do the work or is it uninhbitable?
is there room for a caravan in the cottage garden for you to live in while the work is done?

my instinct is to say buy the cottage (assuming you can afford the mortgage plus the cost of renovation), but if it was me I would want to know I had a place to live in while the work was being done

MF2015

We're in a similar position to your self. We moved almost 200 miles due to work and after renting we know were we would like to be, a lovely little village near us.

To buy there would mean us selling 2 houses we have just to get enough LTV to buy a 2/3 bed detached. But we could sell one and have enough to buy a 4/5 bed detached in a near by town.

We are going with the 2/3 bed in the area we want, it's going to be our forever home and a place for us to bring up a family. It's going to mean staying in rented a while longer but the way things are with the market, I don't see that as such a bad thing.

Mum_of_3_3

If you are totally prepared for the disruption that building brings then I'd say go with the house.

I assume you are aware the the listing applies to inside as well as outside and things like having to reuse timbers, having to use specific materials etc can mean that the budget for renovated listed buildings rocket. My partner works on listed buildings constantly and the inspectors can be very, very picky at times about some trivial detail and not give a stuff about other things that my says he thinks would matter. Also, building regs and listed buildings requirements can sometimes go against each other, so be aware of that too.

Before you make an offer I would contact your local planning dept with your plans and see if they are acceptable and what restrictions there would be, then find a few builders to give you a quote for the works. I would always go for recommended builders rather than random ones from the phone book.

Good luck with whatever you decide.

M_o_3

jangor_2

Many thanks. Fortunately I do not require a mortgage but would have just enough as long as the renovations came to under 50,000k although I do not know a builder as yet. At present I am renting in the same village and can continue in rented for a few months yet. The renovations are fairly extensive as the property has not been used for a while (it was allowed to be incorporated into the three adjoining cottages (as one home) some years ago but is now being sold separately and I don't think has been used for many years. It is however probably the only house I will ever be able to afford in the village. My sister thinks I am mad and should buy a better property elsewhere regardless of whether I know anyone but having made a previous mistake (the property I have just sold) I am terrified of making another error of judgement. My family have moved away and the village does seem like my family now. It's so difficult. If I were younger I don't think the decision would be so difficult.

Good luck MF2015 I hope all goes well. Your remarks were very helpful to me.

Pumpkin7

Jangor I would say you know deep down you need to stay in the village you have come to love so much. You need to be somewhere that is a lifestyle; not just bricks and mortar. Friendships and feeling secure are very important for your own wellbeing. What if you did buy elsewhere and never settled and then grade 2 you can afford is sold to someone else?

Grade 2 listed properties can be a headache but if your prepared for that it could be worth it once the work is complete and you have a lovely characterful home in a location that is part of who you are.

A grade 2 listed in a village with a lovely commuity sounds like a wonderful life.

You can change a house but not a location.

jangor_2

Thankyou Pumpkin your response was really helpful. I have made arrangements to view the cottage again tomorrow and hope I can arrive at the right decision for me.