Doing it on my own: bobobski's house deposit diary

Skint_yet_Again

wow bobobski how exciting !!! :j Its still worth enquiring about the one you've seen on rightmove as you never know it could be the flat that's just right for you

savingwannabe

It's great. We are dead proud of you for having such high savings. To have a friend that can help out is fantastic. Make sure you visit the area in the day time and evening. Check with Neighbourhood Watch about the area too. Do a survey and use that to negotiate the price down. Those are my tips for house shopping. If you can get an extra bedroom you might be able to rent out a room in the future. This is something I am seriously considering.

bobobski

Thanks guys, your encouragement is keeping me going at the moment! Today I received notice that my landlord is selling so whether I'm ready to move or not I'm being kicked out in two months from today - EEK!!! I've been emailing sales and letting agents like crazy and hoping I get to speak to the mortgage adviser tomorrow. If a mortgage is possible and I find a place I like to buy, I may as well do that and find a friend's sofa to kip on in the meantime and storage for all my stuff rather than renting, but timing is tight!!!

SW, it would be great to get a second bedroom of course, and yes getting a lodger in would be fab, but I can barely afford a one bed place unless I get really lucky.

Keep your fingers crossed for me!!

bobobski

By way of update... I've now done two viewings - both same price, neither grabbed me.

The first one was in a good location but based on the pictures was never going to grab me so I used it as practice for how to do a viewing and I was rubbish! Was too nervous to even get my checklist out so barely remembered to check/ask anything. Place is way overpriced for the work that needs doing and because I'll have a small deposit I can't afford the work required for cashflow reasons as quickly as the work needs doing (i.e. completely gutting the kitchen and bathroom).

The second one was the opposite but equally overpriced. Worse location, also on a main road, same price as the other one but 33% smaller internal area. Has a garden, but garden is on the main road and the fence is waist height so good chance planning doesn't allow it to be higher as you'd think it would be higher already if it could be. Completely refurbished recently. Just too small. Very nicely done up but not bobobski-style - but nothing needs doing.

Anyway, both of those are WELL within my budget so I'm not disheartened and actually felt a lot better viewing the second place as I got over my nerves to get my checklist out and answered everything on it Agent was more than happy to help as well which reassured me - the first agent was an a**e.

Most importantly - next viewing lined up on Saturday - same price as the other two - just slightly smaller than the bigger one but looks in MUCH better nick and the bathroom has been gutted and redone in the last couple of years. I am SO EXCITED about this one - location is great for me, brilliant chance of value growth due to regeneration in the area, really big and looks very well done up for the price, also possible room to chip at the price. A couple of built in cupboards too so good for storage. I literally couldn't sleep last night because I was so excited about this place. From the pictures and floor plan I can't see a single flaw. Need to keep my game face on and not blurt out an asking price offer as soon as I walk through the door Already planning dragging a friend to a second viewing next week to decide where to put my offer in - BAD BOBOBSKI - need to keep head screwed on. But my best friend lives 10 minutes' walk away too, which is great (they told me the other day they moved to that location partly because they knew it's where I wanted to be - dawww).

Agent today told me he has three more properties at this price level coming on in the next week or so. One of them sounds appealing to me so I've asked him to keep me in the loop on that one.

This is fun!! Must remember that when it gets more stressful...

Also been emailing solicitors and got three quotes in. And mortgage is all-but lined up too - had a great long detailed chat with mortgage adviser and already sent him all my paperwork, just holding out on applications until I find the right property. This is moving so fast but doesn't feel like too fast - weeeeeeeeee!!!

Also I'm keeping it quiet at work but told my boss in confidence and he is so excited that I might be buying bless him - he's offering opinions on the properties and everything and letting me sneak out of work for viewings. So glad we're good again; if we were still having a difficult time, it would be a lot harder to do this...

savingwannabe

OMG. This is really quick. The good thing is you have your finances ready. Take several friends with you ask one to look at the walls and the other the ceilings, one to focus on certain parts of kitchen and the other a different aspect etc. Also, try to chat to the neighbours after the viewing maybe on a different day so you can see if it is on a busy street and that there aren't noisy people close by. You could go to local corner shop and ask about the area too. Ask the local taxi drivers etc but it sounds like you know it is a good area.

So glad your friend and boss are being supportive. Talk to everyone you know about their experiences of buying a home. All being well this could be the place.

Both times I have bought a house I fell in love in the first viewing. Dead proud of you and really good luck:D

bobobski

Thanks so much SW! I'm really trying hard not to get carried away but at the same time if I love it, I love it! I must say I think you're overestimating how many friends I have :rotfl: I have two in mind - one is best friend and other owns a portfolio of residential properties, one of which he lives in and the others he rents out. Think I may grab them both and drag them along!

Good idea about the corner shop - there's one 5 mins walk away so I may pop in there - thank you for the advice! I think the area is a little bit like Hackney 10 years ago but in my town - it will be really nice in the future but for now it's still a bit rubbish, although not as unsafe as other areas. So I'm not expecting the world, just preferably not to be murdered on my way home

bobobski

Payday wooohoooo! _party_

I've just done my usual monthly budget/money shuffle and worked out I've saved pennies over £1,500 in April. The joys of being anti-social!!! I'm incredibly pleased with that. That's enough for the legal fees in one go

Skint_yet_Again

Well done on the savings bobobski !! Buying a house / property is such an exciting and terrifying time but it does happen quickly to start with and it is sometimes a case of jumping in with both feet I am glad you have some support from your friends and boss... good luck ! xx

savingwannabe

That is fantastic news. Well done. And it is so good that you have things to look forward to.

bobobski

A very quick one today as I am SO EXHAUSTED from not sleeping properly for the last week - OFFER WAS ACCEPTED TODAY!! Got a little bit off the asking price, no negotiation, just took the seller a day to consider it and decide to accept.

Onward with so-much-maths-my-brain-can't-handle-it and legals. Knocking on wood, crossing fingers and toes, keeping every lucky charm I can find on me at all times in the hope that nothing goes wrong.....

Proper catch up this weekend, I promise x