How far to stretch myself advice

getmore4less

I have not done any pricing/value just a search for anything upto £210k that might fit the lifestyle.

As an example for a potentialy suitable layout
(currently a rental so needs work(lots) inside and out)

https://www.rightmove.co.uk/property-for-sale/property-70410664.html




double garage, downstairs bedroom with shower for gym space open to garden(SW) for the summer garden a bit small.


not a big fan of this 3 story style but fits some of your brief

https://www.rightmove.co.uk/property-for-sale/property-80256479.html



ground floor bedroom->gym with shower
2 main bedrooms, master & guest

Would you consider a project that may offer the lower initial price with the opportunity to add some value over time.

Have you considered a bungalow all downstairs rooms so potential more flexible for your use case.

Surprised how many properties don't have floor plans and/or to be sold by modern auction.

patch9495

Hi Dan,


Just to offer a bit of context on a similar situation.


We are currently going through purchasing a house in London, and found ourselves in a similar situation to you. Our maximum budget was £300k and for what we required (near to a station due to jobs) is a rarity at this price.


Instead we decided to compromise and found a nice property for 20k less approximately 5 mins bus ride to the station (which wont cost us anything extra due to having all day travel cards) we have also identified 3 areas of home improvements we can carry out in the future to increase the value.


We are leaning towards home improvements opposed to moving house, in the future due to stamp duty down here not being far off what we would pay for a potential home improvement.


Also a lower monthly mortgage means you will have money available to make overpayments if you wish, which with savings rates at a record low, assuming you have an adequate emergency buffer, I would advise.


I would additionally recommend to look for somewhere that offers improvement potential and then in the future if you need to release equity through remortgaging you can do. Finding somewhere that doesn't offer this will limit your options from day 1.


Thanks
Alex

getmore4less

Might be too far away from your area.

Another one with no plan
Big kitchen and an outbuilding that would make a good gym.
https://www.rightmove.co.uk/property-for-sale/property-76479182.html

danlightbulb

Thanks for replies.

Something with refurb/improvement potential id be really keen, if the price reflects the work required (some dont seem to) and i can do the work with the cash i have after paying deposit which rules out extensions initially. im ok at DIY.

patch9495

Hi Dan,


Our house we are buying has a driveway but no dipped kerb so technically no offstreet parking.
Every other house on the road has a dropped kerb so we envisage no issue getting this done. A quote from the council of £1500 confirmed this


An almost identical house 2 doors down (if anything a bit smaller) has sold for £20k more, due to what we can assume is the presence of off street parking. So we have concluded £1.5k to add £20k value a good investment.


Also I would take into consideration that if you are planning on moving in the future, whilst although, to keep the maths simple, your home may rise by say 10%, your second home (if also in similar area) will also have risen by 10%, which assuming the second home is more expensive, will leave you worse off in real terms.


Just food for thought and adds further fuel to the potential for home improvements arguement

getmore4less

danlightbulb wrote: »

Thanks for replies.

Something with refurb/improvement potential id be really keen, if the price reflects the work required (some dont seem to) and i can do the work with the cash i have after paying deposit which rules out extensions initially. im ok at DIY.

This one has the space but may be a project too far...

https://www.rightmove.co.uk/property-for-sale/property-60427140.html

Looks like damp needs sorting could be some hidden horrors.

danlightbulb

I think its a little too far yes. After deposit Id only have about £10k to sort it all out which is borderline. Thanks for taking the time to look though

Unicorn_cottage

Have you walked into a house yet that made you think yup that is the house I want?!