Choosing between two houses

impartialobserv

We are struggling to choose between two houses... any advice/opinions very welcome!

House A) Large Edwardian house, has all the rooms etc we need, big garden, substantial stone house, very desirable location but slightly busy street. Costs £600K needs approx £80K work. Closer to shops, park etc. Houses in street sell for between £600-800K.

House Smaller 1940's house, would need a double story extension to create the space that we need, also very nice location - not as prestigious as house A but lovely quiet street, so ideal for children. Further away from shops, town etc. but much closer to school. Absolutely beautiful, huge garden. Costs £450K, needs approx £150K spent on extension. However houses in the street don't tend to sell for more than £500K. Advantage though in being able to create an extension/house to really suit us

Which would you choose?

movilogo

A looks better option unless you can be confident that you'd get a planning permission for B.

impartialobserv

The architect has looked into the planning history of neighbouring streets and is fairly confident the planning application shouldn't be a problem.

House A) is in a conservation area, house isn't

I suppose the stumbling block for me is that A does seem a much better long-term investment, whereas B is the house I'd rather live in.

fairy_lights

If you post the rightmove links to both we can (be nosy) give better advice...

Tixy

Presumably you are in a financial position to be able to do the work on either?

I'd be considering first how long I would forsee staying living in either house.
Is it a 5 year home? a 10 years til the children are grown up home? a forever home?

impartialobserv

Tixy wrote: »

Presumably you are in a financial position to be able to do the work on either?

I'd be considering first how long I would forsee staying living in either house.
Is it a 5 year home? a 10 years til the children are grown up home? a forever home?

Yes, finances are in place for either option. I don't see this as a forever home, more along the lines of "10 years until the children are grown up."

Once the children have left school, we will probably move away from this area.

phoebe1989seb

House A sounds best to me.....apart from the bit about being on a 'slightly busy street' which sets alarm bells ringing.

The house we just sold was similar - large(ish) stone, but Georgian with huge garden - ideal family home material, although in our case this was a downsize as we no longer need the massive house we once had. Only downside was the road, which was fairly busy but rural. It didn't put us off as cash buyers looking for a major project, but when we came to sell the road had become busier and we were advised that our target market would be reduced and the price we could achieve would reflect this.

We were fortunate to achieve an asking price offer very quickly for our area, but we priced realistically in order to achieve this. Had the house been on a quieter road we could have asked for (and got) significantly more.

Obviously you have referred to the road being *slightly* busy and if the house is in a very desirable area where properties sell fast, then it may be a different ball game.

However, if you say house B is the one you'd rather live in and you have the funds to make it exactly how you want it, I'd be inclined to choose that one anyway.....

lincroft1710

I'd go with the house in which the required works would take the least time and cause the least stress and upheaval.

Hoploz

A will be a better investment as it has more charm (period features?) and is in a road with houses of higher value.

The house I recently sold we bought as an executor's sale, worst house in the road, renovated and extended and made it the best house in the road. The price was significantly suppressed by being the best house in the road .... Several viewers said they did not like the mix of houses on the road (most pretty similar to each other) People would rather be among better houses than less good ones

But you are going to live there ... Which do you see yourself loving for longest?

impartialobserv

Thanks Hoploz, that's really very interesting and the dynamic does seem much as you describe. Most of the houses on street B are pretty similar (detached 30's & 40's houses) but its a nice street, very leafy & quiet. Street A has a wider selection of houses, mostly quite grand Victorian buildings over 3-4 floors.

It's definitely a case of A being the better investment and B being the house house we'd rather live in. Part of me thinks I should just discount the investment angle because it's about our home - but we're ploughing most of our savings into it, so the long-term value feels relevant.

vansboy

Think that A is favourite, but both will cost more than you expected, as most work will find something more needs to be done.

B seems to be less of a potential gain, but 'make it how you want it' will always be a winner in my opinion.

& if you want to show the links in Rightmove, then you'll get more comments, I bet!

VB