We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Which house ?

bluedrop
bluedrop Posts: 662 Forumite
edited 28 February 2013 at 5:40PM in House buying, renting & selling
Hi all,
I've seen two houses last weekend. Both in SE london- same road - very near to each other. Which of these would you prefer and why ?

House1: A 3 bed end of terrace. Decent room sizes. Requires some updating. Change carpets, re-paint and some tidying up. We also plan to get the loft converted and have a one storey extension in the rear, break the wall between the kitchen and dining.
Asking price £385k

House2. A 3 bed end of terrace. Room sizes slightly larger than the above. rear extension done to a good standard. Loft conversion done too (To make a 4th bedroom). The carpets needs changing and the house needs re-painting.

Asking price £465k
There is more to life than increasing its speed.
«1

Comments

  • lee111s
    lee111s Posts: 2,987 Forumite
    Eighth Anniversary 1,000 Posts Combo Breaker
    What about number 2?
  • bryanb
    bryanb Posts: 5,034 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    I like No 2
    This is an open forum, anyone can post and I just did !
  • Meadows
    Meadows Posts: 4,530 Forumite
    Mortgage-free Glee! Hung up my suit! Xmas Saver!
    bluedrop wrote: »
    Hi all,
    I've seen two houses last weekend. Both in the same road - very near to each other. Which of these would you prefer and why ?
    1. A 3 bed end of terrace. Decent room sizes. Requires some updating. Change carpets, re-paint and some tidying up. We also plan to get the loft converted and have a one storey extension

    How long is a piece of string?

    You only mention one, they both may have different things that make them better or worse.
    Only you can see what the have to offer, what work the require and what your gut tells you is the best for the price.
    Everything has its beauty but not everyone sees it.
  • bluedrop
    bluedrop Posts: 662 Forumite
    Sorry, something ate up the other half of my post...updated my post now.
    There is more to life than increasing its speed.
  • Dunroamin
    Dunroamin Posts: 16,908 Forumite
    If you like the way the alterations have been done in house 2 I'd buy it - why put yourself through all the hassle of living through renovations when you don't have to. (Plus the fact that they always cost double what you expect!)
  • Strapped
    Strapped Posts: 8,158 Forumite
    Entirely boils down to how much the work to be done to bring no.1 up to standard of no.2 would cost.

    As no.2 is slightly bigger, I'd probably try to get that one for a decent price, using the other as a bargaining tool. (You'll need quotes).
    They deem him their worst enemy who tells them the truth. -- Plato
  • aliama
    aliama Posts: 242 Forumite
    Very probably the first one, although I'd have to see it to be certain. The price difference is pretty big, probably more than the loft extension, conservatory and other work would cost. If you did those works, what would its value be then? Of the two, it seems like the better investment.
    NSD May 1/15
  • bryanb
    bryanb Posts: 5,034 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    aliama wrote: »
    Very probably the first one, although I'd have to see it to be certain. The price difference is pretty big, probably more than the loft extension, conservatory and other work would cost. If you did those works, what would its value be then? Of the two, it seems like the better investment.

    That would be true if he said conservatory. But he actually said rear extension to a good standard.
    This is an open forum, anyone can post and I just did !
  • aliama
    aliama Posts: 242 Forumite
    bryanb wrote: »
    That would be true if he said conservatory. But he actually said rear extension to a good standard.

    Whoops, sorry. But I don't actually think it makes any difference to my answer.
    NSD May 1/15
  • Mint1955
    Mint1955 Posts: 685 Forumite
    Part of the Furniture 500 Posts I've been Money Tipped!
    Would you be willing to put links up so we can see the choice?

    Think about what it will cost to get house one up to same as house two?

    Can you afford house two so you don't have to go brought building works etc etc
    Living the dream and retired in Cyprus :j

    http://forums.moneysavingexpert.com/showthread.php?t=5105296
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 352.1K Banking & Borrowing
  • 253.6K Reduce Debt & Boost Income
  • 454.2K Spending & Discounts
  • 245.2K Work, Benefits & Business
  • 600.8K Mortgages, Homes & Bills
  • 177.5K Life & Family
  • 259K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.