Wanting to move

marcsshell

Hi all,
Just wanted some views on what we should do.
Myself and my husband have decided that we want to move hopefully to a better area with our two daughters.
We paid £79k for our house 10 years ago so not long before the house prices crashed.
We can out of an IVA almost 2 years ago and the year before that we had to get the house valued. The EA said it was worth approx £70-£75k but Zoopla said £66k.
Now there is a house in the street that is on the market for £82k but it has been on the market for a while another has just SSTC and that was up for offers in the region of £72.5k.
Our house needs bits of work and redecorating. Main job would be replacing double glazed units. Decorating would be just painting living room and bathroom,tiling in the kitchen and one of the bedrooms would need re plastering and decorating. Oh and either replacing living carpet or putting laminate down unless we could get it cleaned (silly us got a cream carpet with 2 kids pmsl)
Would it be worth getting all of this done and put it on the market at a slightly higher price or leave the work and price accordingly?
We are hoping to save up this year and move next year so we could have a bigger deposit to put down as we owe approx £56k so would maybe have £10-15k equity.
That would be enough to pay 10% deposit and hopefully legal fees and moving costs.

marksoton

marcsshell wrote: »

We are hoping to save up this year and move next year so we could have a bigger deposit to put down as we owe approx £56k so would maybe have £10-15k equity.
That would be enough to pay 10% deposit and hopefully legal fees and moving costs.

Those figures don't really stack up if you're going for somewhere better, which presumably means more expensive....

marcsshell

marksoton wrote: »

Those figures don't really stack up if you're going for somewhere better, which presumably means more expensive....

We live in quite a deprived area so most other places are better anyway. Putting our wages in to a mortgage checker we could borrow up to £135k but to be honest aren't sure if we would be willing to go that high and have been looking around the £100k mark. My maths would work out a 10% deposit on £100k being £10k so why don't the figures stack up?
Obviously if we wait until next year we could have maybe another £10k to make 20%

marksoton

marcsshell wrote: »

My maths would work out a 10% deposit on £100k being £10k so why don't the figures stack up?
Obviously if we wait until next year we could have maybe another £10k to make 20%

Ok, well that's your deposit sorted but then there's everything else. EA fees,solicitor fees,moving costs etc etc....

Dan-Dan

dont underestimate other fees, as Mark says

Solicitors for a sale/purchase approx £1400 area, survey on house your buying £400-700 , EA even an online one will be £499 area....

Thats nearly 3k before moving costs...possible price of more than one survey etc etc

marcsshell

So if we have £15k equity we may just scrape enough but doesn't leave anything for any emergencies and would have to hope the first house we liked and put an offer in for went through smoothly lol.
We have looked at all of our finances and cut back loads. Next to get sorted is our mobile phones x3. As soon as contracts are up we will be going sim only.
After sorting all finances we have £1k left over each month which we are hoping to save.

Now the question remains what work should we do on the house bearing in mind there is not much to be made due to the area.

Dan-Dan

did the SSTC property need new windows?

marksoton

marcsshell wrote: »

.

Now the question remains what work should we do on the house bearing in mind there is not much to be made due to the area.

Tricky bit. Normal advice would be not to spend much as any design you like might not be to someone else's taste.

Given your description of demographic etc i'd keep costs to a minimum and just do the basics. Neutral decorating that won't offend but'll make the place look smarter to potential buyers.

marcsshell

Looking at them nope although looking at mine you could say the same.
The STC one was oiro £74.5k. It does have an en suite though although it is a bit confusing as to where the toilet is looking at the pictures. This will be above a shared passage to the back gardens. that house is a mid terrace.
Ours is an end terrace with space at the side of the house to get 3 cars. Back garden of ours is also much bigger. Don't know if this would make any difference.
I just don't know if it's worth getting EAs in to give us valuations now or wait a while. I guess now that I have it in my head we are moving I want to get the ball rolling

marksoton

marcsshell wrote: »

I just don't know if it's worth getting EAs in to give us valuations now or wait a while.

You've nothing to lose by doing so....

marcsshell

Will get the house decluttered and get a few in.

Also when it comes to getting a mortgage will my car finance have that much of a negative effect? Might it be worth trying to get that paid before we try for a mortgage?
The debts that are showing in my signature is all that there is. Littlewoods hopefully will be gone this month and my dad says that "we have more or less finished paying him"