House or a Flat

kayfaz

Which one would you choose in this scenario to live in as a couple with no kids for 2-3 years?

Property 1
http://www.rightmove.co.uk/property-for-sale/property-49865279.html
2 bed modern flat with fairly new white goods and requires no work other than maybe a new paint if being really picky.
1/4miles away from main line train station (No need for it, but just for future resale value) and town centre shopping malls etc. With allocated underground car park.

Property 2
http://www.rightmove.co.uk/property-for-sale/property-47922043.html
3 bed end of terrace with dining room, living room and a garage in a not rough, but council estate.

condition is liveable but very outdated, would probably cost £10-15k to modernise.
As a car enthusiast, garage would be nice to have - but not essential

Property 1 is 10% cheaper than Property 2.

Paully232000

property 1 without a doubt, and this is exactly the kind of place we did live in until we decided to move and then have children very soon after.

BaxUk

Also property 1, im looking for my first house as well at the moment and balancing out the House vs Area conundrum...

Im leaning towards the better area with slightly less house personally

Tixy

Is the train station significant? i.e. does one of them use it regularly for commuting?

You say choose to live in? I guess you also mean choose to buy bearing in mind they will want to sell in a few years?

Do they have the £10-£15k to modernise the house? and the inclination and time to do that?
Do they have any hobbies or similar that would make a garage a big benefit?
Is there sufficient underground parking for both of them (if they have 2 cars) and for their visitors.

Dan-Dan

assuming decent length lease and acceptable maintenance charges and clear guidance on what occurs with issues , the flat , in this instance

There will always be a dooer upper round the corner

tain

Right move links? There's so many assumptions/unknowns here it's impossible to answer effectively.

lazer

definitely 2, would never choose a flat if I could afford a house.


Also a house is more future proof, if in 2 or 3 years if you want children, and one of you has lost your job, taken a pay cut, or house price rises have but buying out of range, you still have a house you can live in and have children.

SailorSam

I'd always choose a house before a flat, but when you consider you're only going to be there 2/3 yrs and it could take a year or more to get the house up to standard, in your case i'd choose the flat.
It's going to cost you a lot less especially once you take refubishment into consideration. The only disadvantage is houses tend to sell easily when the time comes for you to move, but our first house was ex Council on an estate and they don't sell as easy as you'd hope.

kayfaz

Edited original post with links

tain

Are you planning on starting/extending the family after the 2-3 years? What if a baby were to come along unexpectedly? What's the resale like in both areas? How long have both properties been on the market? Are either of you looking to change jobs anytime soon? What is the proximity of your friends and wider family, if you see these people a lot? How much do you rely on public transport? Have you looked on http://www.police.uk/ to see what the crime is like in the surrounding areas? Does the house have additional parking areas for visitors or if you get a second car?

And so on...

tain

2-3 years is also a loooong time if something isn't right. All it needs is a terrible neighbour, and the very best property becomes worthless.