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Another head or heart question!
phoebe1989seb
Posts: 4,452 Forumite
Hi folks -
Have narrowed house search down to two properties in two different villages.
House 1 is grade 2 listed in need of loads of work to bring back to it's former glory. Kerb-appeal wise it is the less attractive of the two properties. It is a good size and has a decent sized garden, but - there are adjoining pub buildings (also listed) which encroach into it. These have bricked up windows and were formerly a bowling alley. The pub is now more of a restaurant and the buildings are used for storage. The village is very pretty with a post office selling very basic provisions.
Priced at £280,000 (reduced from £295,000), the EA has indicated that an offer around £245,000 would be accepted as the vendors need to sell due to a marriage break-up.
House 2 is not listed and is a half-finished project. It has masses of kerb-appeal. The garden is huge and not overlooked at all, but the house itself is slightly smaller. We would need to add a conservatory/extension to make the space workable for us. The village is far less attractive although there is an excellent post office/shop selling a huge range of locally produced provisions etc.
Priced at £265,000, it previously went to auction with a guide of £230,000 but didn't sell (I think there was a £250,000 reserve). The EA has said the vendor wants close to the asking price, but would most likely accept £250,000.
Obviously with the stamp duty issue he is unlikely to get offers above £250,000.
We are in a reasonably good position to proceed as our house was sold in March (within 2 weeks of coming onto the market
), in a small chain (all above us ready to proceed) and once the sale has gone through we will be cash buyers as we don't need a mortgage at all.
My head is saying the first house is a better bet as it is in a more attractive location and is a good deal, but my heart seems to prefer the second one although it is smaller and the village isn't so attractive. Also the refusal to budge on price makes number two seem less of a good buy.
Can anyone help me make the decision please?
Many thanks xxx
Have narrowed house search down to two properties in two different villages.
House 1 is grade 2 listed in need of loads of work to bring back to it's former glory. Kerb-appeal wise it is the less attractive of the two properties. It is a good size and has a decent sized garden, but - there are adjoining pub buildings (also listed) which encroach into it. These have bricked up windows and were formerly a bowling alley. The pub is now more of a restaurant and the buildings are used for storage. The village is very pretty with a post office selling very basic provisions.
Priced at £280,000 (reduced from £295,000), the EA has indicated that an offer around £245,000 would be accepted as the vendors need to sell due to a marriage break-up.
House 2 is not listed and is a half-finished project. It has masses of kerb-appeal. The garden is huge and not overlooked at all, but the house itself is slightly smaller. We would need to add a conservatory/extension to make the space workable for us. The village is far less attractive although there is an excellent post office/shop selling a huge range of locally produced provisions etc.
Priced at £265,000, it previously went to auction with a guide of £230,000 but didn't sell (I think there was a £250,000 reserve). The EA has said the vendor wants close to the asking price, but would most likely accept £250,000.
Obviously with the stamp duty issue he is unlikely to get offers above £250,000.
We are in a reasonably good position to proceed as our house was sold in March (within 2 weeks of coming onto the market
), in a small chain (all above us ready to proceed) and once the sale has gone through we will be cash buyers as we don't need a mortgage at all.My head is saying the first house is a better bet as it is in a more attractive location and is a good deal, but my heart seems to prefer the second one although it is smaller and the village isn't so attractive. Also the refusal to budge on price makes number two seem less of a good buy.
Can anyone help me make the decision please?
Many thanks xxx
Mortgage-free for fourteen years!
Over £40,000 mis-sold PPI reclaimed
Over £40,000 mis-sold PPI reclaimed
0
Comments
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How long do you intend to live in a new house? Will it be your forever house, or a potential moneymaker?.....................I'm smiling because I have no idea what's going on ...:)0
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How long do you intend to live in a new house? Will it be your forever house, or a potential moneymaker?
Hi Errata - we're looking for our forever home Both properties require so much work that we are definitely looking at a long-term project with either one! Mortgage-free for fourteen years!
Over £40,000 mis-sold PPI reclaimed0 -
Imagine right now if your other half walked into the room and said
"you never guess what... it has been sold"
which one would you instinctively hope he was NOT referring to?
LOL, hope that helps...0 -
Are you prepared to post links to RM? Would be extremely useful...0
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If it's a forever home and still affordable - i would go with heart.0
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