I want to buy a house ...

Owain_Moneysaver

... that is, one particular house.

I've had my eye on it for thirty years, gone past it probably several times every week, but always assumed that (a) it wouldn't be for sale, and (b) I couldn't get anywhere close to affording it.

It's a nice house, Victorian, detached, good area, one more bedroom than I currently have (not that I need it), in reasonably good order throughout.

Can you understand my frustration when it came up for sale last week and (a) it's less than I expected (b) I could just about, at a stretch, afford it.

I keep telling myself that if I bought it I couldn't afford the council tax, heating, and all the other costs. I'd probably have to pay a gardener, for one thing. And although it's in reasonably good order it's crying out for a complete reflooring with reclaimed parquet.

Am I being sensible and living within my means to ignore it, or will I regret not buying it for the rest of my life (even though if I did buy it I'd be living in genteel poverty)?

HampshireH

Have I read this right? If you couldn't afford the bills you would probably have a gardener? Why would you for that?

If you have to stretch and won't afford the maintenance or bills then it's a stretch to go.

Jaywood89

It depends....

Are you happy to spend your life ‘just’ paying your bills and worrying where the money will come from each month so that you can pull up on the drive of THAT house?

Not being able to do the work you want and feel the house needs because you can ‘just’ pay the bills?

Wishing you could afford a gardener?

Wanting to buy something for yourself? But realising all your money is going on the house? And mostly likely will for a long long time?


If you then yes buy it, but I think the fdreamof owning it will wear off very quickly in reality.


Also can you post a link to where it’s up for sale, right move etc?

AdrianC

Owain_Moneysaver wrote: »

... that is, one particular house.

I've had my eye on it for thirty years, gone past it probably several times every week, but always assumed that (a) it wouldn't be for sale, and (b) I couldn't get anywhere close to affording it.

It's a nice house, Victorian, detached, good area, one more bedroom than I currently have (not that I need it), in reasonably good order throughout.

Can you understand my frustration when it came up for sale last week and (a) it's less than I expected (b) I could just about, at a stretch, afford it.

Excitement? Yes.
Frustration? No.

I keep telling myself that if I bought it I couldn't afford the council tax, heating, and all the other costs. I'd probably have to pay a gardener, for one thing. And although it's in reasonably good order it's crying out for a complete reflooring with reclaimed parquet.

Ah, so you don't actually want it - it's just the lure of the unattainable... Like meeting your long-term crush, and having them come on to you...

Am I being sensible and living within my means to ignore it, or will I regret not buying it for the rest of my life (even though I'm living in genteel poverty)?

If you need to ask, then you didn't really want it that badly. THIRTY YEARS, and now it's for sale, and you CAN afford it!

Go on! Go and view it! What's the worst that'll happen...?

Aspiration

My advice is to work out the costs involved in detail, allow for work required, increased living costs. Then compare it to what you want over the next ten years, then make an informed decision. Good luck!

Owain_Moneysaver

Jaywood89 wrote: »

Are you happy to spend your life ‘just’ paying your bills and worrying where the money will come from each month so that you can pull up on the drive of THAT house?

Not being able to do the work you want and feel the house needs because you can ‘just’ pay the bills?

Wishing you could afford a gardener?

Wanting to buy something for yourself? But realising all your money is going on the house? And mostly likely will for a long long time?


If you then yes buy it, but I think the dream of owning it will wear off very quickly in reality.

Nicely put.

I'd rather not put a link up.

I think I would need a gardener at least at the start as it's a very big garden and needs some taking in hand.

Owain_Moneysaver

AdrianC wrote: »

Ah, so you don't actually want it - it's just the lure of the unattainable...

This is what's so frustrating ... it's now attainable. Never has been in the past, and I didn't expect it to be, so didn't worry about it.

Not sensibly attainable, but attainable.

The house equivalent of cashing in the pension to buy a Ferrari.

DaftyDuck

If you love it with a passion.... well, I'd go for it. Mind you, I don't always do the rational thing with houses. So far, it hasn't caused too much pain, but I am getting older, and the challenges get larger.

I would put a pinch of rationality into it, have an escape sale plan, or a rental option, or... well, a backup plan. But, if you'd regret not going for it for years to come, at least give doing it serious consideration.

DaftyDuck

00ec25 wrote: »

living in genteel poverty with whom?

a house is a pile of bricks, but is also a home. A home is more than a pile of bricks, there is more to life than my pile is bigger than your pile

But, it's often not size-based willie-waving, it's passion, love for what the house can give you as a home, a life.

hazyjo

View it. I've thought I'd love houses until I've set foot inside them!


If you meet the vendor, tell them you've admired their house for 30 years. Don't make out you HAVE to have it or gush too much, just let them know. It helps swing it - it's not always about money with vendors.


What you think you can borrow/afford may be different to your lender. Or are you buying with cash?


Note this is (presumably) Scotland.