Cash to buy a small house, Advice please.

Errata

I would think that when someone buys a house they think, for whatever reason, it's the one for them at that point in time. And that's why they buy it.

cbr600f

Eratta - Thankyou for that little snippet of truth.

I was though reffering to when people set eyes upon it, or after viewing the property...

*New idea: Empty homes - little bit of rennovation...Apparently there was around 10,500 empy homes in 2011
Local Council Housing Associations Other Public Bodies Private Owners 280 463 0 9,673

So ive contacted a local MP who wrote an article on itand also the empty homes department at my council and the housing associations to see if i can get the list of homes.

Do bargins exsist these days?

Any one bought a house using only savings, your input would be appreciated.

cbr600f

Property auctions have a few possibilities. Ive watched storage hunters *gulp* how hard can it be? find a good house show no interest, and know the.max i want to pay.

littlesparkles

Buy affordable house good location 70% of capital

cbr600f wrote: »

Any one bought a house using only savings, your input would be appreciated.

Not me (mortgage unfortunately) but my friend has done this. And in the North East. He bought a new build outright for 95k (and the builder took 5% off this as well I think). This is a 3 bed semi close to Durham city. He chose a new build to limit the amount needed to be spent on upkeep.

cbr600f

Yeah that sounds good, its a shame non are around now. I think 3 bed semi's are on for around 100-120k

Ill look though thanks.

littlesparkles

Buy affordable house good location 70% of capital

The house is still being built. He reserved it in the past 2-3 months. Its probably the same type of house you are seeing at 100-120k (although the cheaper ones didn't have garages). The price dropped one weekend and some of them were snapped up. Keep an eye on them.

jackyann

Build own house Land 25% and House 75% of capital

Visit the Home Building & Renovation website, buy a couple of magazines, and get free tickets to one of their shows.
For a small outlay (and a good day out with lots of freebies) you can see if a self-build is right for you.

cbr600f

Cheers littlesparks, ill keep me eye on them. Do you think contacting the developers and asking what discounts are available to cashbuyers might be a way of doing things?

jackyann - Thank you for the tip, im just going to look into land near durham now. If theres any under 30k it may be an option.

The plan is this:

My wife and I are viewing three houses tomorrow all under 70k - all about 15 minutes drive from durham (so Bad location)

Inbetween doing that were going to checkout the little villages surrounding durham to see if they are reasonable and look at the ones up for sale in the 40-50k region. Maybe even spot some empties to enquire about...

Busy day tomorrow no doubt ill be flooded by estate agents, housing associations etc.

cbr600f

Just found an interesting little thing about my local council selling surplus assets, like land and property. So ive contacted them for an up to date list.

cbr600f

Been out today to scout areas, have narrowed down to some little villages outside durham. Viewing of a terraced today flopped, got there and decided the area was not our style. But at least it helps us see what we're after.

Also found some land for 25k! 200 square meters with full planning permission for 2 x 3 bed detached. with nice views. The chap seems very nice on the phone. have emailed him for some more information and found a supplier of a full timber frame kit in the region of 25-35k for a 120 square meter. What do you think?