My Organised House Move

gingernutbizkit

A bit in advance i know but I wanted to start next weeks list before the weekend so what I need to do doesn't all go out of my head!

Week Two - 9th-15th May 2011

[STRIKE]Create new budget to confirm what we can afford to spend[/STRIKE]
Meet with broker again
[STRIKE]View Aylesbury Rd property[/STRIKE]
[STRIKE]Get letter re:income from accountant [/STRIKE]


Declutter List.

10 Lounge magazines
[STRIKE]Kitchen recipe book
Unread novels packed[/STRIKE]
Our books in conservatory sorted
[STRIKE]Our DVD's sorted[/STRIKE]
[STRIKE]Kids DVD's sorted[/STRIKE]
Our CD's sorted
Menu plan a week form the freezer
A couple of bottles of wine for eurovision night :rotfl:.

gingernutbizkit

Evening all,

Just a quick update....

3 viewings on Friday evening. Bit of a nightmare really as they all sort of arrived at the same time and I'm worried that it looked like it was planned that way!! Two of them seemed very very keen Also had feedback from our second viewer on Thursday. Apparently he loves the place and really wants it but his sale fell through the day before He's gone back on the market but we've not made any promises to him so we'll have to wait and see.

On Friday Mrs Ging and I had a walk around the back of the property we have put in a silly offer for. Bumped into a guy a few house up who was doing a huge extension on his house. He must have spent hundreds of thousands on what he's done and although it's way out of our finances it did give us some more ideas for what can be done to the one we're interested in - even had a look at his plans online . Had six hours stuck in a car yesterday so we had chance to do a lot of talking and if we can get the property for a reasonable price then we think we will really go for it.

Anyway, it's been nice not having anyone viewing today but the houses looks like a bombs hit it :mad: so I better go do some cleaning!

Ging x

gingernutbizkit

My head hurts from all this thinking!!!!

Just been to view a property that I didn't think would really be an option but it actually might be. It has the room to extend to be a four bed and is much more spacious than I thought. It's not as big as the other property but it isn't as close to the motorway and it may be cheaper to do up (still needs a fair bit of work). I think I need to arrange to go back with Mrs Ging and see what she thinks.

One of the women who came to view on Friday is wanting to come back for a second viewing tonight. She is a cash buyer too :j. So things seems really positive.

Also I have my meeting with the mortgage broker at 1pm and he has found us a mortgage which will cost us £1600pcm. This is actually a very good deal however I have been in touch with Nationwide. Our current mortgage is only at 2.5% as we haven't changed it since rates hit their low (although they have obviously wanted us to ). they have agreed to port our current mortgage and loans us the additional. We have several different options - tracker or fixed, 2yr, 3yr or 5yr but at the most our monthly mortgage cost would be £1100pcm. This is £500 less than what the broker was recommending :D:D.

Ging x

spook

gingernutbizkit wrote: »

Feedback from the first viewer was that as an investor he couldn't see anyway he could make money form the property as we have already done all the work needed!

Positively though the mortgage company has agreed to the mortgage which was a bit of a concern as I'm self-employed and you never know if they will go for it or not.

The energy assessor is around at the moment. I'll be quite interested to know what he puts the house at. Based on my energy bills I'm guessing it won't be that good!!!

Also, interestingly the estate agent from the first house we view a fortnight ago rang us and asked if we would still be interested in the property. It needs a LOT of work and I expressed that as it's at £300K and our maximum budget is £330K we could not afford to buy and do the work needed. he then asked us if we would consider putting in a cheeky offer and seeing what happens. Basically I think they are desperate to sell it, it's been on the market since before xmas (tree and snow in the pics!). He suggested putting in a suggested offer of £275K which I agreed to but I seriously doubt that they will go for it at 25K off - would you??!?? Still if they were prepared to come down some and we got a good offer for ours then it may have become a strong possibility again.

Ging x

*Their* EA suggested putting in a 275K offer? They must be desperate!

gingernutbizkit

spook wrote: »

*Their* EA suggested putting in a 275K offer? They must be desperate!

:rotfl::rotfl::rotfl: I KNOW!!!!

gingernutbizkit

hi Folks,

I've been at uni for a couple of days and things have really moved forward so i thought I would drop a few lines down and bring you all up to speed.

Firstly I got the boxes off my uni friend and will be picking up some more from her tomorrow . She was telling me how well her move went but how much cleaning she had to do. Apparently her new places is filthy . she then said that she had to go back and clean her old place in a couple of days. I ask her how she managed to get a break in the chain to allow her a week to do the move. She said she isn't selling her old house but instead is renting it out. WHY DIDN'T WE THINK OF THAT????

We've been talking about it loads for the past few days and it makes complete sense. We have an appointment with our mortgage broker on saturday to check that it's possible but I'm pretty sure it will be. Here's the breakdown of our discussions....
POSITIVES.
1) extra income
2) when our boys are grown up we have the option to return to live here if we want to.
3) We can move at our own pace (could afford up to a month)
4) Agent says that it will rent really easily.
5) If the new place needed redecorating then we could do this before moving in.
6) extra income
7) we can do more packing now as we won't have people looking around.
8) We would have no chain so we would be in a strong buying position.

NEGATIVES
1) We would need to move away from having an emotional attachment to the property.
2) Cost during times when it would be empty
3) Getting my head around the tax implications

So I had a agent around today to value it for the rental market and he was really impressed. He thinks we can go on at £995 and will end up around £900. On first impressions I guess our mortgage will be around the £600 mark so it should be do able.

All very exciting!

Ging x

madmish00

Just a heads up. If you are with Nationwide they charge an additional 1.5% on BTL so your rate would go up from 2.5% to 4% (and would obviously still be on a variable rate so would increase again with rate rises). Of course you could remortgage the property with someone else.

gingernutbizkit

That's really helpful, thank you x

gingernutbizkit

Three more boxes packed

madmish00

I wish I was quite this organised. I keep looking at piles of stuff and have no clue what t do with it. I have so many wires and leads and don't know what they are off but I know if I throw them away I will find what they belong to!

We are going to solicitors on Monday to sign all the paperwork ready for exchange so really need to take a leaf out of your book and get a wriggle on!