Cold feet on house purchase

moneyistooshorttomention

It would have come as a double whammy to have a "friend" let you down and change their mind about selling to you. So - you lost the house you wanted and have a "with friends like that who needs enemies?" scenario on your hands and are probably doubting your character judgement at finding a "friend" has done this to you.

I'd still be reeling in shock in your position - with the main element of that being "I thought they were a friend - how could they do that to me?"


If prices are really rocketing that fast where you are - then grab this house quite deliberately with the intention of selling it on asap - and resign yourself to £15k lost on swopover costs (as that may well be less than you'd lose by paying rent out and paying the higher cost for a place likely in a year or two).

PS : ditch the friend - you don't need someone like that...

Jhoney_2

nickyg2000 wrote: »

Long story, we sold our flat after 7 weeks this summer and were going to buy our friends detached cottage in a lovely village, it was the perfect house. She decided at the last minute that she didn't want to sell anymore and in a panic we jumped on another purchase, a 250 year old cottage which was down-valued by £16k (in hindsight I wish we went through with it anyway). So after this we found a sensible purchase a 2 year house which is double the size of the cottages and has a warranty etc. We had to find a new buyer which we did in a day and got 10k more for our flat. The thing is although its a straightforward house I keep worrying I don't want to live there. Its a new build estate which I only just found out has 50% social housing in one of which shares a drive with us. This worry's me a bit through past experience but also because of resale. We seem to be paying a premium because the estate is new and looks nice but what happens in 5 years time when it looks scruffy and we cant sell on?? Its also a family home which we don't intend to start a family for 5 years..... I feel the feeling of dread like what are we going into. But on one hand I'm keen to move from this flat as the sound proofing is very poor.

Any advice appreciated as I'm going crazy

Can you still buy cottage two? You had an extra £10k from your sale and clearly do not want the home you are buying so just stop, clear your mind and make a decision that you are happy with.

nickyg2000

We would be worried of being left behind as prices kept rocketing up

nickyg2000

Jhoney wrote: »

Can you still buy cottage two? You had an extra £10k from your sale and clearly do not want the home you are buying so just stop, clear your mind and make a decision that you are happy with.

Cottage two got snapped up after we pulled out despite being down-valued and having being sat on the market for 2 months before.

nickyg2000

moneyistooshorttomention wrote: »

It would have come as a double whammy to have a "friend" let you down and change their mind about selling to you. So - you lost the house you wanted and have a "with friends like that who needs enemies?" scenario on your hands and are probably doubting your character judgement at finding a "friend" has done this to you.

I'd still be reeling in shock in your position - with the main element of that being "I thought they were a friend - how could they do that to me?"


If prices are really rocketing that fast where you are - then grab this house quite deliberately with the intention of selling it on asap - and resign yourself to £15k lost on swopover costs (as that may well be less than you'd lose by paying rent out and paying the higher cost for a place likely in a year or two).

PS : ditch the friend - you don't need someone like that...

Cheers,

The thing is we haven't exchanged contracts, the seller is waiting for a passport and we are waiting till Feb. Not much has happened yet on any front tbh...
The town I live in our flat has gone up 50% in price in two years the house we are planning on buying has gone up 14%. Its a slower village market

TBeckett100

OP, you wont be happy. Problem is, everytime you see a chav, a ginger child, a clapped out Ford Mondeo, you'll wish you didn't buy because there is a perception.

Trouble is, the media does set out to box people. I probably know 4 or 5 poor people and none of them are the typical scroungers we perceive the social class to be.

Some say that private neighbours are worse because they can't be moved on like social tenants. However, private owners probably are less inclined to damage your property if you have a ruck with them. After all, if your home is subsidized and you are being paid by the taxpayer to lay in bed procreating all day to work your way up the housing ladder, what's a criminal conviction in the mix? :rotfl:

50% poor people in an area is not ideal. The social engineering side is designed to take the society poor and rather than let them all be stuck together making episodes of Jeremy Kyle or articles for Chat magazine, the idea is that the poor people see the rich people live and give them something to aspire to, rather than being in each other's houses all day wowing over their new Argos furniture.

Personally this doesn't work when you are given something the rich person has at a fraction of the cost because whilst on paper the rich person has a property and the poor one doesn't, in reality, they are both enjoying the same property, albeit the feathers in a John Lewis sofa are more comforting than a foamy SCS sofa.

The pyramid is the shape it is. You need to foot soldiers at the bottom and fewer at the top. That is life.

However I get the sentiment, I like many others have worked very hard to get where I am. Yes I know shift workers also work hard, but at the end of the day, we all sat in the same classroom, but some figured out that to achieve X you need to earn Y whilst others decided to they didn't care about X and felt Y should be handed to them on a plate.

But even as I say this, I know far far more people in their 20's or 30's whose parents worry how their darlings will get on the property ladder and their children moan moan moan. However, if your life's ambition is to be a Gym instructor or some other low paid role, flittering about town all day in your Fiat 500, you often forego the possibility of buying. You can't have it all ways, and that is the private sector of life!

Finally, I will contradict this whole post now when I say this but some of the kindest, easiest to talk to people, people you can have a laugh with are Northern poor people. When I go to Majorca, whilst I can enjoy my villa, I do head down to Magaluf because people there will actually talk to you in a bar. Likewise, some of the safest feeling holidays (apart from the remote nature of Maldives) has been in Benidorm.

OP, firstly, assess why the sellers are selling and spend more time in the area. Go and knock on a few doorways and suss out these people. In my last semi, the kid next door (who went to private school) was a little s-bag. The language that came through the walls. The private chap over the road used to fire his motorbike up at unsocial hours and on a shared driveway, my old neighbour used to fire up his work van at 5am in winter. Annoyed the hell out of me.

It is going to be people's habits, poor or otherwise that will affect day to day living, so keep monitoring the area and the new neighbours.

Jhoney_2

nickyg2000 wrote: »

Well I know the house joining ours is a lovely ex professor lady in her 50's and tbh the other houses don't look to bad. I worry more about resale as the title plans state housing association all over them. Its also in a flood plain abet low risk but still there.

My stress and anxiety has been through the roof the last six months. If I stay put will the noise from the flat about drive me nuts(just walking and talking but still annoying), will we be able to sell again at a good price. My mental health seems very effected. The only house I was sure about was the friends cottage i.e no risk, nice small development, nice neighbors, detached, character 200 year old but with ten year warranty, I just want risk free as its £150k deposit and 4.5 x joint salary mortgage.

No home is risk free and with a new build, the '10 year guarantee' will also be reduced by as long as you have lived there so will no longer be at it's "on-the-forecourt'' premium.

Also I think you need to reflect more on your own words and deeds, rather than judging other peoples supposed way of life.

You have no idea what the 'nice neighbours are doing in their homes, how the potential neighbours situation came be what it is/is not (e.g fly tipping?), nor who will move into either area should they choose to relocate.

That said, I hope you find what you are looking for.

nickyg2000

TBeckett100 wrote: »

OP, you wont be happy. Problem is, everytime you see a chav, a ginger child, a clapped out Ford Mondeo, you'll wish you didn't buy because there is a perception.

Trouble is, the media does set out to box people. I probably know 4 or 5 poor people and none of them are the typical scroungers we perceive the social class to be.

Some say that private neighbours are worse because they can't be moved on like social tenants. However, private owners probably are less inclined to damage your property if you have a ruck with them. After all, if your home is subsidized and you are being paid by the taxpayer to lay in bed procreating all day to work your way up the housing ladder, what's a criminal conviction in the mix? :rotfl:

50% poor people in an area is not ideal. The social engineering side is designed to take the society poor and rather than let them all be stuck together making episodes of Jeremy Kyle or articles for Chat magazine, the idea is that the poor people see the rich people live and give them something to aspire to, rather than being in each other's houses all day wowing over their new Argos furniture.

Personally this doesn't work when you are given something the rich person has at a fraction of the cost because whilst on paper the rich person has a property and the poor one doesn't, in reality, they are both enjoying the same property, albeit the feathers in a John Lewis sofa are more comforting than a foamy SCS sofa.

The pyramid is the shape it is. You need to foot soldiers at the bottom and fewer at the top. That is life.

However I get the sentiment, I like many others have worked very hard to get where I am. Yes I know shift workers also work hard, but at the end of the day, we all sat in the same classroom, but some figured out that to achieve X you need to earn Y whilst others decided to they didn't care about X and felt Y should be handed to them on a plate.

But even as I say this, I know far far more people in their 20's or 30's whose parents worry how their darlings will get on the property ladder and their children moan moan moan. However, if your life's ambition is to be a Gym instructor or some other low paid role, flittering about town all day in your Fiat 500, you often forego the possibility of buying. You can't have it all ways, and that is the private sector of life!

Finally, I will contradict this whole post now when I say this but some of the kindest, easiest to talk to people, people you can have a laugh with are Northern poor people. When I go to Majorca, whilst I can enjoy my villa, I do head down to Magaluf because people there will actually talk to you in a bar. Likewise, some of the safest feeling holidays (apart from the remote nature of Maldives) has been in Benidorm.

OP, firstly, assess why the sellers are selling and spend more time in the area. Go and knock on a few doorways and suss out these people. In my last semi, the kid next door (who went to private school) was a little s-bag. The language that came through the walls. The private chap over the road used to fire his motorbike up at unsocial hours and on a shared driveway, my old neighbour used to fire up his work van at 5am in winter. Annoyed the hell out of me.

It is going to be people's habits, poor or otherwise that will affect day to day living, so keep monitoring the area and the new neighbours.

'More comforting than a foamy SCS sofa' lol very funny post I commend your wit !

So there are 50 private houses and 50 social. Some look well kept up others not so. The crime map is empty but I found 5 articles of dodgy people from the estate, 1 man hospitalised a guy for 2 weeks after attacking him in the local pub, another drove her child to school in the morning drunk, another broke a mans eye socket at a new years party on the street, another got done for burglary, another girl assaulted someone just off the estate. All this concerns me but when I have walked round at night and in the days its mega quiet and seems alright.... I just worry its because the all the socacal housing has gone to family's with very young kids so its quiet now but what about in 5 years time ??? LOADS of chavs kids and teens running riot and more !!!! piled up. A house that's not easy to sell

Jhoney_2

So DON'T BUY IT!

For the absolute life of me, I don't understand why you are still considering this purchase.

Keep looking and save really hard instead of buying something you don't want to actually live in and think will be hard to sell on. It's a no-brainer.

27col

nickyg2000 wrote: »

The flat is lovely and in a prime street (the house opposite just sold for 3 million) we are the scummy block of flats ;-) )

I was worried about finding a buyer to start with but now I think it will not be to hard. 25 viewings and 3 offers over 7 weeks. The noise is more I'm over sensitive and the soundproofing is crap lol

Interesting that the purchasers of the £3,000,000 property apparently don't mind living opposite a scummy block of flats