FTB she'll shock: compromise vs future plans

catoutthebag

NICHOLAS wrote: »

I don't think your views are anything to be frowned upon. I would be reluctant to get in a relationship with a girl if she was skint.

My mom and dad ended up getting divorced over money, and as we see when people get divorced, money is the most talked about topic and i would imagine it's the main reason most people get divorced in the first place.

Love and stuff soon wears off when your bills start piling up

Huh

Didn't you read my post on page 1?

About me not caring what Job a partner did or how much they earnt and that I was moving out for my own self.

And that I was merely thinking future needs in terms of my next step in life?

Did you not read or understand it?

I will not further comment on my reasons for moving and shift focus back to property and area talk.

Thanks

catoutthebag

dirty_magic wrote: »

I think I'd go for a house rather than the flat if it were my decision, as long as the area wasn't really bad! It's difficult for others to give advice though because there's so much personal opinion. What do your parents think?

From the various narrowing down I've done. .

It will be a 2bed flat in a nice area with lots around
Or 2-3 terrace in a not nice area

Both the above are similar price and allow for potential lodger

Or reduce deposit slightly to 10% and try save for 2-3 bed terrace in the nicer bit of the one area I saw yesterday

catoutthebag

jezebel wrote: »

Not sure if you need any advice at this stage. I went through the stage of the flat vs house decision a few years ago when I bought my house, I ended up with a house in a less nice area than the urban apartments I was looking at for a similar price.

My house needed (and still needs) work doing to it but have slowly redecorated/recarpeted etc to my style. It's worth working out what you actually need and what you can live without if you're buying toward the top end of your budget - for me the bathroom will do but the lounge was a must in the first weeks (pink and orange on unplastered walls!).

If you do buy somewhere that needs work, can you stay with your parents whilst you make it more habitable? I did this for two months and it took some of the strain off with builders/plasterers in the house. This also depends on the type of relationship you have with your parents.

Gardens are a lot of work if you have a house, if you've only ever lived with others and don't have the time or wont to do this then it's also a considerable factor. I find mine a pain, but wouldn't trade it for the world that i have somewhere to hang washing and sit out if I want to (though obviously some flats have shared/private gardens or terraces). Every one of my friends that has a flat without outside space wishes they had a garden.

Have you worked out the cost of moving to your second step house vs extra equity? Five years on my house is worth what I paid for it but hasn't gained anything, I have built up equity but also know moving to a second step is probably going to cost me a few thousand in fees/moving costs etc. This might be a factor in whether you stay at home (see above re: relationship with parents) vs own place.

Good Luck with whatever you do, buying a house is never easy and it's always hardest first time (I'm told).

In terms of doing stuff up, I don't have money budgeted beyond pots of paint.

I would be looking for something done up as much as possible.

I won't be going for a 130pcm service charge apartment in a block with gym sauna jacuzzi etc because j won't use it

So if I went the flat route I'd probably go for the 70 pcm service on a converted Victorian flat.

As they say location is what it's about. ..and that's currently winning things. ..so 2bed nice flat or stretching to my limit and a terrace in a nicer area.

Have to consider how I feel about a lodger (stranger) about potentially especially in the latter option.

catoutthebag

Davesnave wrote: »

So would I, it's more flexible.

My DD bought a 2 bedder for £130k in a desirable area (Midlands) last summer. First impression, I thought, "Help!" but that's exactly what others had done. At least I listened and looked before opening my mouth.

Others had passed over it because the front bay had been removed, so it was ugly, and it had only a rudimentary kitchen/bathroom and some horribly shot plaster. However, it had a recent heating system and a newish roof, with enough room to go upwards, if required.

Now, there's a simple kitchen, no walls/ceilings with huge holes in them, a functional bathroom and a lick of paint has transformed formerly dull (dark blue!) rooms. It's no palace, but she's warm & dry.

I doubt if she'll stay there very long term, but the future is never 100% clear, so a house in a good area with the capability to add an extra bedroom is a no-brainer.

I'm not sure if the OP is up for that sort of thing. As someone else said, dealing with re-plastering etc is not for everybody, but just keep saying "It's only dust!" and you may come through with half your sanity.

I know nothing about diy and don't have thr money or inclination or time. .so less is better

Pixie5740

If you have your heart set on home ownership you should find the inclination to learn DIY, even just the basics, or the maintenance on your home will cost a fortune if you have to get someone in to do it for you.

catoutthebag

Pixie5740 wrote: »

If you have your heart set on home ownership you should find the inclination to learn DIY, even just the basics, or the maintenance on your home will cost a fortune if you have to get someone in to do it for you.

What things would you class as the basics?

catoutthebag

Do flats rise in value at the same rate as houses? (And crash at the same rate?)

ManuelG

catoutthebag wrote: »

Thank you!

I'm in my very early 30s. I'd stay at home for another 12 rather than 6 months. ..but while I'm dating and looking to meet someone new it's not really appealing.

Plus sure I'd get a slightly bigger deposit say 3k...but I'd still be looking in those areas as my income won't increase and the bigger deposit saving won't really dent things.

Wish my parents would just dish some cash too. My dad did offer 5k last year which my brother declined and I kinda said 'it's fine' but unfortunately no mention of it since and I don't like to ask! 5k would be another 3-4% deposit

Hmm, also single, just moved out of parents, also in West Midlands, also looked in your price bracket. Fancy a date?:kisses:. Although seriously, I get the fact that living with your parents in your thirties stops relationships before they begin, so there's a fine reason to get out;) Do it for the long term though, anything else is a bonus.

Anyway, it's early days, but I did find my house in that price bracket and am very happy. It's early days so maybe it's hiding something horrid for me, but so far all is good! My compromise was not living quite where I wanted to in an ideal world, but I went for area rather than size and ended up with a nice little two bed end of terrace. It helps that me and my family's from the city so I know good and bad areas - cross the main road and the terror begins, but they keep to that side and not my little estate

So my advice is... keep looking and don't lose heart, both in love and housing

Pixie5740

catoutthebag wrote: »

What things would you class as the basics?

Basic DIY skills include:

Central Heating

• Bleeding radiators
• Igniting the pilot light
• Topping up boiler with water

Plumbing

• Knowing where the stopcock is and how to turn it off/on
• How to unblock things

Decorating

• Preparing wall before decorating
• How to care for decorating tools
• How to paint and hang wallpaper

Drilling

• How to drill into walls
• How to drill wood and other other materials

Toolbox

• A range of screw drivers
• Measuring tape
• Screws (and know which screw to use for the job)
• Claw hammer (good for getting nails out that you didn't put in quite the right place)
• Rubber or plastic mallet (great for "persuading" flat pack furniture into line)
• Pliers
• Drill

If all else fails just get some WD40 and Duct tape (two items everyone should have) and follow the Engineering Flowchart.

catoutthebag

Let's assume I went down the flat in the nice area...

Would you

1) put 10% on a 1 bed between 90-100k, have cheap repayments and save the remaining 8k to build a deposit towards the next property when I move out and rent the flat out? 1 bed would generate a rental income of 450 - 600 pcm and use as retirement nest

2) put 12.5% max deposit on a 2bed flat of 130-135k value? And sell it down the line for when I move on to next property on the ladder (terrace, semi).

Also I have booked my first Appt ever with an.EA. Just to Reg my details and talk about what I'm looking for. They will inevitably try sell me crap. Any dos or don't? (Dixons)

I really need to find a broker and get a MIP.