New Build or Old House

Marvel1

The thing you have to be careful about is the monthly re-payments, what will happen in say 2 years with interest rates.

I'm single and I got my home which is a 2-bedroom (if you class it as that even), and small, probably not suitable for a couple , it's mid-terrace, it was once house split into 2.

Anyway, I didn't borrow the maximum I could have had, I only borrowed £58,500 out of the £68,000, I could have borrowed the maximum, and with my depoist and knocking off the asking price I could have had a bigger one (this was just before the crash). I thought with my head and being able to afford the monthly re-payments comfortably, 3 years on, still comfortable.

The house can do with upgrading, but I ain't going anywhere for a long time, so I can save up for it.

The house was built around 1920.

The above is my own situation and thoughts.

quantic

I bought a new build this time round as it was my first house, while it is easier and more convenient short term to do this, I think that next time round I would definitely opt for a older house. The quality of new builds isnt up to much if you ask me. We have redone a lot of the original work in the bathrooms and kitchen as we where not happy with the original stuff.

poppysarah

Compare floor space between the two.

Don't have a preset idea about what you want. Do a location and budget search.

Are you paying back the bank of dad loan?

hazyjo

Have bought and lived in four Victorian flats/houses over the last 20 years (and a 1930s' house). Love the style and definitely my favourite... but hubby and I are in the process of buying an 8 year old house and we can't wait.

Will be nice to have walls that are easy to decorate (plaster hopefully won't fall off, things will be able to be drilled into walls without worrying about them falling down again and pulling out a chunk of plaster), everything will match and won't need 'doing' (I have mismatched skirting boards, coving, ceilings, etc). Things will be built to today's spec, the roof won't need doing or insulating, there won't be random pipes running up walls or in corners from where things have been moved or cut off over the years...

As much as I love my current house, there's so much that annoys me now. The windows were replaced with D/G at some stage and there are no useable windowsills anywhere. Not sure if there ever were, but wasn't something I thought to notice on a viewing. I struggle to find places to put vases, candles, birthday/Christmas cards... There's no ceiling light in the dining room, just two lamps that need special plugs to link them to the main lightswitch. Bulbs seem to blow more often than anywhere else I've lived, the kitchen lights click off after a few minutes if all the bulbs are put in (yet three electricians tell me the electrics are okay), it's got damp in a couple of places, there are large cracks in the bedroom ceiling and landing ceiling...

The things I once loved about old properties now drive me insane. The massive wall next to my staircase has been patched up over the years and there are uneven bits of plaster/filler everywhere. No walls seem to be straight. The open plan lounge/diner has stairs in it so all the heat goes upstairs. There's no rads in the lounge end. All the useable walls for furniture are taken up by radiators - none are under windows. The understairs cupboard is drafty as hell and it feels like a gale's blowing when you're sitting on the sofa - it's covered up with a long cardigan draped round the stair spindles at the mo... and the spare room window's very drafty and blows the curtain into the room when it's really windy outside. The garden has an old patio section with a mixture of concrete, stones, slabs... it's a nightmare to keep under control. I'm looking forward to a nice neat tidy garden that's easy to manage. Mine has some nice stuff in it, but a lot of rubbish too - looks horrible very quickly if you don't keep on top of it. Weeds seem to love it - an elderly lady lives next door who doesn't do anything with hers, so all the bindweed comes under and over the fence and is awful to keep under control.

Some of it could be fixed, but the house generally looks fine as it is and it would cost far more than I'd want to spend.

I still prefer Victorian, despite all of the above(!), but a newer property with character shouldn't be written off... will probably save you money in the long run. Either you love Victorian or you don't. I'd certainly never get one as a compromise house, or you'll hate it. I think you should keep looking... something perfect will come up - location would swing it for me. Wait for a cheaper house in the location of the new build if it's that much better.

Jx

SuzieSue

jasmin10 wrote: »

We weren't told about IGT's.

Did you use their recommended solicitors, or did you use your own?

twirlypinky

I bought a new build and i currently live in my boyfriends new build and i wouldn't buy another unless i had no choice.

The walls are thin and not very strong at all, the rooms are tiny, the garden is tiny, the loft is too low to extend up in to, there aren't NEARLY enough parking spaces, most households have two cars, this estate was built with only one space per house...

Older houses have big rooms, high ceilings, large established gardens.

If you buy a new build all you're paying for really is white walls, and you're paying more for it.

When we move house the first thing we're going to do before we unpack, is paint the entire place white, so we've got a blank canvass to start with and can properly decorate each room in our own time.

Imelda

I agree with PN, with a new build you can enjoy from day one. But you do pay a premium for that.

With an older house, no matter what state it is in and no matter how much you say you can live with the previous owner's choices you *will* want to change things (almost everything in our case). But changes can be made.

Lastly, always go for location.

SuzieSue

I've only ever bought one house and it was a new build. I bought it 13 years ago and didn't have too many problems with it. However, I think the quality of new builds have deteriorated over the last few years so I don't know if I would buy one again.

My parents bought a 1970s house from new and I really notice how much better the quality and size of rooms is compared to my house. I replaced my kitchen and bathrooms last year, whereas my parents' are still the original ones although admitedly they do need replacing now, but 38 years' use isn't bad.

Having said that, location is very important and having had 2 bathrooms for the last 13 years, I would really miss not having an ensuite (eventhough there are only 2 of us) to the extent that it would be a deal breaker and you rarely get these in 1970's houses, although the main bedroom might be big enough to fit one in.

CloudCuckooLand

If you need the Bank of Dad just to get a deposit together, how will you save 30% in ten years ?

When you have the costs of owning, may start a family, etc etc...

dizziblonde

I'd go old house every time - we bought a 1920s/30s house before Christmas, none of the walls are straight, they all need reskimming, there's a load of other little "bits" that need doing (and some bigger bits we're saving for with an eye on the future) but the room size and amount of light we get into the rooms is amazing and sound doesn't travel like crazy from the neighbours. Plus I like the quirks and history a place builds up over time. New builds also seem quite soulless to me - and I like having a garden wall, which most of the "open plan and airy" new builds around here don't have so you get people trampign all over your front lawn... that bit actually always amuses me because the developers make these plots with no front walls - and then you watch everyone rush to put a fence, wall or hedge up ASAP!