Should We Buy This House!? Property advise please!

whiteriver

Hi,

My partner and I currently live in a 2 bed semi (and have done so for about 2 years now) we are considering letting this out and making the jump to a larger (and therefore more expensive!) four bed property. This would be our 'family' home and we would not be looking to move again for a very long time, if ever. The issue we have is that we are still reasonably young and wanting to have a few more nice holidays and experiences before we finally settle down with children etc etc but at the same time, we do not necessarily wish to miss out while property and interest rates are still very low. Our finances in the new property would be stretched but still all affordable without any credit cards, bank loans etc. We have seen a property we love in the location we want and as it is a new build, the developers have offered £25000 off the property (originally £275000) and included carpets, curtains and all the other fixtures and fittings such as lights and alarm system. Should we make the jump now and just have to save a bit harder for holidays or should we wait and hope something better comes along in a year or two or will interest rates be higher in this period and therefore lending will become more expensive...?

Any help is much appreciated.

keystone

The best investment you can ever make is bricks and mortar but personally I would rather stick needles in my eyes than buy a new build.

Cheers

phill99

I think you have to answer your own question. Its only you and your partner that know what you both want from life.

leveller2911

New Builds IMO look bland ,have little or no character, are poorly constructed and overpriced....But people see a nice new Kitchen,carpets,curtains,nice new double glazing etc and are hooked.The fact that ALL the materials used are cheap and poor quality makes little or no difference....

Personally I would much rather buy an older property and renovate..........People need to get a bit of imagination and look past the decor of an older house and see the blank canvass beneath.....

leveller2911

whiteriver wrote: »

Hi,


Our finances in the new property would be stretched but still all affordable without any credit cards, bank loans etc. We have seen a property we love in the location we want and as it is a new build, the developers have offered £25000 off the property (originally £275000)


Take no notice of any discounts, they front load the discount on the prices so its probably over priced to start with....Remember House prices aren't going up for a few years yet so no hurry..




and included carpets, curtains and all the other fixtures and fittings such as lights and alarm system. Should we make the jump now and just have to save a bit harder for holidays or should we wait and hope something better comes along in a year or two or will interest rates be higher in this period and therefore lending will become more expensive...?

The choice is yours, If you can live with the value of the house falling for a few years before rising then not a problem...Just my opinion of coarse.....Just a quick question : Why not sell your current house(home)?

27col

What you are asking is hardly the business of strangers on a forum. Only you can know what is the best way forward for your finances, lifestyle and future aspirations. As has already been said, be very wary of so called discounts from builders.

Errata

A roof over your head is a need. Holidays and 'experiences' are a want. Only you can prioritise, only you will pay the price of making the wrong choice.

Becles

I was looking at small three bed new builds when I bought this place.

For the same money, I got a four bed house with much more floorspace but the decor was shockingly bad and the fixtures and fittings were basic but tidy and usable. These have gradually been replaced over the years as and when finances allowed.

As I've had three children since I bought this house, I'm pleased I went for a bigger house over a new build.

HelenDaveKids

With the rest of them. Bricks are the best investment but wouldn't touch a new build no matter what. You've only got to look on zoopla at people trying to sell and being in negative equaty. Your young? then renovate. You should be able to get somewhere decent and still get away but that can over time but made fantastic and therefore get the best of both worlds.

iamcornholio

whiteriver wrote: »

.. or should we wait and hope something better comes along in a year or two

The market is not going to pick up for a few years yet. So there's no rush