Considering buying my Nan's house

Starbrite

Long story short...



My Nan passed in 2011, I have always said I wanted Nan's house, even when she was alive I asked Nan if I could have it! got told no lol

I've been in talks with mum about the matter and we have come with a figure a plan etc,

However, I think I am scared, scared about having a building with so much emotionally attachment, for example I took my first steps in the garden.


The building needs to be rewired, new GCH and a new kitchen/bathroom extension, current one was put up god knows when and leaks! so say 60k worth of work (massive ball park figure, can be way out)

I am worried about how I will pay for the works to be done, as well as the emotionally attachment to the building.

Has anyone ever brought a property of a family member which holds so many dear memories and fear the changes they make will have an impact some way?

Or felt overwhelmed at the mammoth task ahead and felt they won't do a good job?

Or felt they cannot take on such a job?

First world problems hey!

Comms69

Starbrite wrote: »

Long story short...



My Nan passed in 2011, I have always said I wanted Nan's house, even when she was alive I asked Nan if I could have it! got told no lol

I've been in talks with mum about the matter and we have come with a figure a plan etc,

However, I think I am scared, scared about having a building with so much emotionally attachment, for example I took my first steps in the garden.


The building needs to be rewired, new GCH and a new kitchen/bathroom extension, current one was put up god knows when and leaks! so say 60k worth of work (massive ball park figure, can be way out) - When you say extension, do you mean adding to the building, or just renovating into existing space? 60k sounds far too much for the latter.

I am worried about how I will pay for the works to be done, as well as the emotionally attachment to the building.

Has anyone ever brought a property of a family member which holds so many dear memories and fear the changes they make will have an impact some way?

Or felt overwhelmed at the mammoth task ahead and felt they won't do a good job?

Or felt they cannot take on such a job?

First world problems hey!

I think you should avoid this purchase. Whilst some people can deal with emotional detachment, you seem to be too invested

davidmcn

Who owns it now?
Who lives there, if anyone?
Where are they going to live after you buy it?
Why haven't the current owners done the upgrading needed?
Is there a good reason you want to buy it, other than the emotional attachment?
If you can't afford to buy it and do the necessary works, that's answered your dilemma for you.

babyblade41

Mine wasn't my Nan's but my Mums .. I lost my brother and Dad so so much emotion tied up in it..50 years of emotion..good , bad and incredibly sad.

I spoke to my children to see if either of them would like it but they all felt the same as me .

It sold very quickly and is now a lovely family home and producing another family and their memories.

I never go and see the house as I don't want to see it...memories are best in the head and the heart not in bricks.

I would advise you to move on , it hurts like hell but is the best way for your future ...make your own happy memories somewhere new

Starbrite

To be honest, I think my grandad built the extension, out of everything and anything he could get his hands on post war. Not having had a professional look at it but from what has been said over the years, a complete knock down and rebuild



The only catch is, I live in South East, my budget won't get me a 1 bed flat, let alone a 2 bed house. Mum is gifting me her 3rd, (3 sisters) which on paper the maths adds up on the purchase side

Niv

Starbrite wrote: »

To be honest, I think my grandad built the extension, out of everything and anything he could get his hands on post war. Not having had a professional look at it but from what has been said over the years, a complete knock down and rebuild



The only catch is, I live in South East, my budget won't get me a 1 bed flat, let alone a 2 bed house. Mum is gifting me her 3rd, (3 sisters) which on paper the maths adds up on the purchase side

Others have covered the emotional side of things so I will not here.





Assuming you still wish to go ahead I think you need to consider the following – I am basing this on you saying you have a limited budget to refurb and also would not be able to get even the smallest property otherwise:

• Get a full structural survey so you have a better idea of what does need to be done
• What makes you think you need a full re-wire? Is it rubber shelved cable? If so yes it does, if not, then by default it does not (i.e 30year old wiring is not automatically dangerous
• What is wrong with the GCH that means you need new? A new boiler for example is not ‘new GCH’ and would carry less cost
• Regarding extension rebuild. Obviously we can not see it from here, and you say it leaks, fine. But a full structural survey will help confirm if it is dangerous or needs further investigation. The root of the leak may not be a major issue and because it was built with what was available does not make it dangerous by design.

The extension could be the deal killer here if it is dangerous but considering the fact it has stood since post war you may be able to patch it for now and look to rebuild it in the future.





You also need to consider your quality of life if you go ahead with a doer upper on a limited budget. Forget decorating until all structural items are sorted. Structural issues are the expensive bit (potentially) so will take you time to save / afford, in the mean time you will be living in a property that may not be decorated to your taste / in need of general updating and that could be depressing if you are not emotionally ready for living in such a way.





Again, it is difficult to say without at least seeing it so you may see my replies and say ‘nope it definitely all needs doing as it is all falling apart, leaking, dangerous’.


In your shoes I would want to check out the extent of the GCH, wiring and extension repairs that are required (as opposed to desired). But would also be looking at things like condition of the roof and all externals as it does sound like a house that needs a lot of work.

bertiewhite

Starbrite wrote: »

I am worried about how I will pay for the works to be done,

Looks like you've answered your own thread?

george4064

bertiewhite wrote: »

Looks like you've answered your own thread?

I was thinking exactly the same thing!

AdrianC

Starbrite wrote: »

My Nan passed in 2011, I have always said I wanted Nan's house, even when she was alive I asked Nan if I could have it! got told no lol

I've been in talks with mum about the matter and we have come with a figure a plan etc,

So your mother owns it now? Does she rent it out?

The building needs to be rewired, new GCH and a new kitchen/bathroom extension, current one was put up god knows when and leaks! so say 60k worth of work (massive ball park figure, can be way out)

Ah. Has it been sat empty for the seven years since the occupant died? Or will your mother be doing her tenants a favour by giving them notice?


Emotional attachment is all in your head. You can get over it.

Sapphire

AdrianC wrote: »

Emotional attachment is all in your head. You can get over it.

Well, of course it is all in your head – that is stating the obvious. However, that doesn't mean it's easy to 'get over it'. Easy to say, but not so easy to do (depending on the level of your attachment to something/someone).

Mossfarr

Try looking at it from a different perspective - if there was no emotional attachment ie if you had simply viewed it on Rightmove or Zoopla etc would you be interested in buying it as your forever home?

Taking the emotion out of it - if it is a sound financial investment and you are in a position to proceed then go for it.
If however you would feel guilty selling up (after making a profit) at some point in the future, then it probably isn't the best thing for you to do.