Finding the right house...

J_i_m

I'm currently "proceeding" on a 1 bed flat and I knew within two seconds of walking through the door that I would be making a very concerted effort to buy it.

From the advert and pictures I'd felt ambiguous, but upon actually viewing it simply clicked, it ticked most of my boxes and maybe a couple I didn't even realise I had.

Theres some compromises ofcourse, but these are outweighed by the positives and potential.

I had viewed a few other places previously, two of which had firmly put me off and one other which wasn't amazing but I offered on, I was rejected because the vendor was holding out for a large premium over similar properties within the local market.

squinz

Thank you for the replies.

Just had a 2nd viewing and saw more potential this time.

It doesn't help that we have wanted to move for almost 12 months and feel a bit trapped in current tired rental, that is very run down (rotten windows, awful bathroom, cold) landlord is reluctant to do anything other than very essential maintenance and we don't want to tie into another tenancy.

will keep plodding on.

Ms_Sophia

Why would you have to get tied in into another tenancy (if you meant with the same property you rent currently )? After a fixed term you will just get into a rolling contract when you can move out at any time provided you give the right amount of notice.

Look at this from another perspective. Many people rent a really nice place - but when they want to buy they find out the mortgage they can get will only allow them to buy a property much worse than their rented one. Smaller usually and not in a such nice place.
So you are in a much better position than this ☺I suppose a property you can afford is better than "rotten windows, cold, etc"?

J_i_m

Ms_Sophia wrote: »

Look at this from another perspective. Many people rent a really nice place - but when they want to buy they find out the mortgage they can get will only allow them to buy a property much worse than their rented one. Smaller usually and not in a such nice place.

Four years ago I was renting a 2 bed flat for £650 per month. I am now currently proceeding on a similarly sized (although 1 bed) flat in the same town and a comparable area.

My broker has recommended and is assisting with the application of a mortgage which will have a monthly payment of £350.

That's quite a significant difference. And in many ways the flat I'm buying is nicer than the one I had rented.

ukmaggie45

Our first house we both fell for it, was to light and bright compared to most of the others we'd seen. It was an end terrace, so had more windows than most and bigger bedrooms too. At the time we had no plans for a family, but when 2 daughters came along we were glad we had 3 good sized bedrooms - most terraces the third bedroom is more of a box room.

After near 40 years we were going to downsize. :rotfl: We found a house, put in an offer, it was accepted. And yet we were saying things like "we'll move in and if we really don't like it we'll move back home"! (We were in the fortunate position of having sufficient from a legacy to not have to sell before moving) In the end the vendor was very difficult over several things, final was the drain survey that we commissioned, on finding that there were roots through the drains she said to the surveyor "Do we have to tell them?"!!! :eek:

Meanwhile another house, in poor condition but with a lovely garden, came back on the market. OH loved the house, I loved the garden. We offered and bought it. After total renovation and an extension we moved in and it's been great. But not exactly what you'd call a downsize! :rotfl:

Good luck with your house hunting OP. Fingers crossed you get lucky and find the home that feels right for you.

squinz

Ms_Sophia wrote: »

Why would you have to get tied in into another tenancy (if you meant with the same property you rent currently )?

We have been in our rental for 2.5 years. We roll from monthly payment now and he has said we only need a month notice to leave. We have considered getting a better rental many times but it's 'better the devil you know' because another landlord may be worse, likely to charge more and we have another minimum 6 month period to pay.

Thrugelmir

You buy a property. A home is what you make it. By personalising it over time.

Look past the current decor, fixtures and fittings etc. Does it tick all the boxes. Location, room sizes, garden , parking etc etc. Then of course price.

Houses once bought can be occupied for decades. Waithing for the right one may never happen.

Winter_Phoenix

Follow your heart (but keep checking in with your head)!

I've loved every house I've owned, bar one, which was a compromise buy (in an expensive city).

So coming home has always been an uplifting experience - even the "compromise house" was beautiful and quirky, just too small.

It must be awful to come home every day and think, "I wish I'd bought a different place - I really don't like this house - I wonder how long I'm going to be stuck here for?"

alchemist.1

I wouldnt get demoralised by one failed offer. If the market is anything like it is here than you will be expecting more than that before you get anywhere.

elsien

The house I bought was the best one I viewed in my price range.
My price range limited me to the lower rent areas - decent location was never an option for me.
Falling in love with a house when your options are very limited isn't a consideration. It was fine. I could afford it. If I'd left it much longer I'd have been completely priced out. Sometimes you have to go with what you can get.