FTB advice on potential house - living with small upstairs

tilly2484

Hi everyone, we are first time buyers and we have a house we both really like, downstairs is great and we have a seperate annex which is of a very high standard.

Downstairs is great - kitchen smaller than I wanted but I can live with it until we are able to knock through and have it open plan.

So the upstairs is much much smaller than we are used too. It's a bedroom less than we wanted (we have 4 and this is 3) we have 2 kids but my office is for the 4th room. However the annex can house my office. Down an ensuite to just a small family bathroom. The 3 bedrooms are all smaller than we are used to and no built in storage. Our current rooms are large and all have built in wardrobes.

I'd write it off if there wasn't scope to extend. Planning permission for a rear extension (1st floor - making the upstairs bigger) but also for a side extension doubling the house. It really could be our forever home and one day be totally perfect.

But the only thing holding me back is living with this small upstairs for at least 5 years - maybe more until we could save up for the rear extension at least.

I should add the house is on for about £50k under our budget. Not that it means much - I was always confused when Phil and Kirsty used to say to people "as it's under budget you'll have money left over to do it up"

Any words of wisdom?

Thanks

tilly2484

Thanks for responding. Actually all the other houses have been bigger and more balanced in terms of upstairs vs downstairsz obviously the annex with this one is making the downstairs bigger. This is £50k under our budget so thebother houses have been at our budget.

There’s just something about this house. I find I’m almost fantasising about it. I suppose a massive decultter and storing uneccessary items in the annex is the way to go and just suck up the small space. We’d likely need new/smaller furniture. I don’t even know if our bed would fit in the master bedroom- only got it in May!

bouicca21

Why is this house so attractive to you? What's it got besides the annex that is better than the other places? What is the surrounding area like?

Lack of storage space would bug me, though my children tell me that built in wardrobes are now old fashioned. I'd also be irritated about not being able to fit the bed in.

But in real life we never get the ideal house - it's a question of what you can live with and what will irritate the hell out of you.

tilly2484

Thanks bouicca2.

The downstairs is fantastic layout wise and has great space. The garden is exactly what we want, the private parking for multiple cars. The actual type of house has always been one I've dreamed of.

The potential for the future is incredible.

As for the surrounding area it's about 100ft from the house we live in now. The location is perfect for us. My daughter goes to school up the road, the village is a fantastic community, I have 5 friends all within 5 minutes walk.

Tomorrow on our 2nd viewing I'm going to really try and picture living in the upstairs area. Whether I can cope for a number of years with a loss of space.

TamsinC

bedrooms are for sleeping in - space in them is vastly over wanted.

cloo

TBH, I think the size upstairs is less important that downstairs, eg you're not generally hanging out in your bedroom all day, it's your downstairs space. So it sounds like something worth living with if you like it.

phoebe1989seb

cloo wrote: »

TBH, I think the size upstairs is less important that downstairs, eg you're not generally hanging out in your bedroom all day, it's your downstairs space. So it sounds like something worth living with if you like it.

This ^

When we were looking to downsize late last year/early this, we planned to buy somewhere with three bedrooms. Our then house had four and - although there's only ever been three of us in family and now just me and DH - previously we had six. For many years we've personally been spoilt by having large houses with spacious rooms - our first flat (mansion style) had a humongous living room - and despite decluttering we still have loads of stuff

We had very strict criteria and ruled out lots of properties as they weren't rural enough/weren't on a quiet lane/had too many neighbours/wrong orientation etc. In the end the cottage that ticked most boxes only had two bedrooms. OTOH, not only were they large bedrooms for a cottage (14'6 x 12' and 12'6 x 12') but they both had walk-in storage. The family bathroom was (potentially) 12' x 12'. Downstairs more than made up for what it lacked upstairs​ and it's there we spend most of our time.

We bought the cottage and - having knocked through two ground floor rooms - have a large kitchen (22'6 x 17' at widest point) and receptions measuring 17' x 12' and 15' x 11'. We're converting the walk-in cupboard in one bedroom into a study space and ensuite shower room.

It works for us - and the fact that it was more than £50k less than the considerably smaller three bed we almost bought (that needed a similar amount of work) convinced us it was the right decision

Only you can tell if the place you're considering will work for your family's needs though.....

EachPenny

tilly2484 wrote: »

Any words of wisdom?

If this...

tilly2484 wrote: »

But the only thing holding me back is living with this small upstairs for at least 5 years - maybe more until we could save up for the rear extension at least.

and this...

tilly2484 wrote: »

I should add the house is on for about £50k under our budget. Not that it means much - I was always confused when Phil and Kirsty used to say to people "as it's under budget you'll have money left over to do it up"

...then forget about this:-

tilly2484 wrote: »

I'd write it off if there wasn't scope to extend. Planning permission for a rear extension (1st floor - making the upstairs bigger) but also for a side extension doubling the house. It really could be our forever home and one day be totally perfect.

Extending the house you are living in can be a nightmare.
If you cannot picture yourself coping and 'making do' with living in smaller sleeping accommodation than you are used to, then coping with living in a house which is being doubled in size shouldn't even figure in your thought process (not meaning to sound harsh, but that is the reality of having that kind of work done)

Also, if you don't understand the economics of buying a house and setting a budget for improvement work (to end up with a property which is worth more than you paid) then you are likely to fall into the trap of planning extensions and improvements which blow your budget and leave you with an unfinished and unsaleable property.

Having to 'make do' in those conditions until you can afford to get the work completed can ruin family life and even damage your mental health. So if the idea of living with small bedrooms for a few years is causing you concern then think very carefully what living in a building site would feel like.

tilly2484 wrote: »

Downstairs is great - kitchen smaller than I wanted but I can live with it until we are able to knock through and have it open plan.

...and what would you do if the structural engineer comes back and tells you that it is impossible to 'knock through' with the budget you have? If you can only 'live with it' on the basis you will be changing it as soon as possible then the next thing you need to do before buying is to confirm that changing it is possible with the budget you have.

Apologies for being blunt, but as a FTB you sound like you are thinking about taking on a project which you'd be way out of your depth in. There is a lot to learn about in simply owning and maintaining a property... let alone tearing bits down and doubling its size.

Grenage

The 'there's just something about this house' will fade in a few months, then you'll be left with the realities. Location, aspect, floor space, room size, et cetera.


Don't buy a house based on feelings, buy it because it ticks the most boxes for the available budget.

AndyTails

tilly2484 wrote: »

I should add the house is on for about £50k under our budget. Not that it means much - I was always confused when Phil and Kirsty used to say to people "as it's under budget you'll have money left over to do it up"

This always confused me too. I have since realised that it doesn't apply to a first time buyer.

When you're buying your first house, you have £10k for fees, £20k for deposit and £180k mortgage for a £200k house. If it's £20k cheaper, then it's £10k for fees, £20k deposit and £160k mortgage. You can't still get the £180k mortgage because it would be a 100% mortgage, and no-one offers those.

However, when you're buying your third house, you have £20k for fees, £250k for deposit and £250k mortgage for a £500k house. If the house is only £450k, you can still get a £250k mortgage, which means you only use £200k for the deposit and you have £50k to do work.

EachPenny

AndyTails wrote: »

This always confused me too. I have since realised that it doesn't apply to a first time buyer.

Only if the FTB has just the minimum deposit required.

If you have more than the minimum deposit you have the potential of spare money for improvements, even if you are a FTB.