Starting Afresh Back Home

daisy_1571

Could you eventually go into the attic if you need more space?  Would it be better use of your money to keep kitchen where it is and extend out the back of there, knocking down the conservatory (will depend on size, condition, sun etc if that's a better option) and returning it to a bedroom with no other access. 

What about extending to the side if tge driveway is long?

Perhaps use front rooms as bedrooms and make that back room your living room.  That would be cheapest solution of all.

I don't think you will necessarily keep thinking of it as her house for any length of time.  I lived in my grandparents house for 17 years after they were in it 28 years so a major part of my childhood.   It very quickly became my house by putting my stuff in it, using the rooms how I wanted to etc.

I would think very carefully about this.  If you are getting the chance to buy without competing in general market thats a huge deal.  You could go after several 'perfect' houses on open market and get none of them so this slightly less than perfect house could have much going for it.  Plus you know the street and area.  Move into a new street and you might find the kids from crazy town live next door and are home schooled - no quiet cuppa in the garden with them screaming next door !

I realise its a bit of an ambition to get your mortgage paid off by your own efforts but since you are now a solid couple you have essentially got an offset mortgage with the savings you currently have access to.  If a lender particularly wants, you could pay the mortgage off tomorrow and put you in the same position.   But they might be fine offering you the mortgage you need for the bungalow without making a fuss.  They might change the mortgage over to a buy to let but that isn't necessarily an issue.  They might offer you enough of a mortgage you'd be using the excess mortgage on new house to finish off the mortgage on your flat.

Get onto a few lenders and see what they say.

Meanwhile you could be spending the last couple of months of this year with direct access to your own garden.  If we get an Indian summer you could be out there having a cuppa at the end of October 


Dxxx 

VintageHistorian

The note of caution I would add is that buying somewhere where you know someone with an emotional attachment to it can bring added complications.

Me and Mr VH once viewed a house that was nice but clearly needed some work. The seller was the daughter of the deceased owner, she did the viewing herself. She was clearly still very attached to the house, commented on how a builder who viewed it had wanted to make alterations so she'd refused his offer etc. She was also still living nearby and I knew she would be upset if she saw us doing anything she didn't like, and would probably come round to tell us so.

You may also find that it's difficult to negotiate the price down if the survey uncovers anything problematic. Difficulties like that can leave a bad taste for everyone especially if one side feels they weren't treated fairly at the end of it.

Just a few things to keep in mind.

South_coast

Ooh, so much to think about! I don't have anything more constructive to add beyond what the others have said already, except to say I hope you make the right decision for you 🩷

Good luck with the pondering!

beanielou

Something to think about. I have a bungalow and you can enter the conservatory either though the French doors from the main bedroom or the kitchen. 

Bargainhunter30

Maybe try to think of it as she would be so happy to look down and see you living in it. Bringing some joy to the house.

With my own house - the last family had a tragedy here and I often think it would be lovely to be able to tell them thank you for our amazing home, a very happy family now lives and grows up here. I think it would make them happy.

I also remember hearing Kirsty or Phil talking about extra bedrooms and how you are often paying 20k plus for storage and usually stuff that you don't need. I can't wait to downsize when the kids are older!

newgirly

Gosh that is exciting, if the location is good for your I’d be keen I think. Does going to to lower price than what you would pay for a three bed mean it makes things easier if you want to keep renting your old place out? Like Daisy said if you can extend further down the line it could be the best of both worlds, good luck! 

South_coast

Is the very-long-term plan still to relocate to the coast? If so and this wouldn't be the "forever" home then going slightly smaller and cheaper might be an excellent idea. There will always be a market for bungalows, so I can't see you'd have many issues re-selling

slm6002

It does sound like a good opportunity and a 2 bed would be quicker to pay off.  I like that you can see the results of switching rooms around as your parents have already done this and I assume it has worked well.

Definitely worth some thought

greent

Jessy103 said:

Thanks greent 🙂 Hopefully Christmas! Me and DH had a chat and he has nearly £14k in savings and by the time Christmas is here, he will be nearing £20k, so we said that if i can get the mortgage down to £7k, he will then give me the rest to pay it off out of his savings. Then when i sell our current place, I will give him the £7k back. It means that come January we can both start chucking everything into savings ready for a deposit for a new place, hopefully by next summer 😀

What a brilliant Xmas present to yourself that will be!! 😀

Jessy103

Omg, I started something here 🤣 

Thank you all for the lovely comments and advice, you fantastic lot are the reason I love this forum so much ❤️

I've been thinking about it overnight and today. I'm trying to think sensibly and logically about it all and belive the best way for the moment is to continue as planned.
As much as I want to move out of this place ASAP, we just don't have enough savings behind us at the moment. I'm definitely going to sell this place, with the stamp duty and all that business, I just don't want the expense or stress of renting. Not knowing what tenants you're going to get and still having to deal with snotty neighbour, no thank you! 
We want to have a good 5%+ deposit behind us and savings for solicitors fees, stamp duty and all the other expenses that go with moving. With being careful with money for so long now, I just don't want to risk more debt than we need to.

In the new year when this mortgage is done and dusted, we will see if Mary's (that was her name, and I dont think she'd mind me telling you all that) bungalow is still for sale then we will view it and see what we think and if it's meant to be, it's meant to be.

We were thinking of moving to the coast, but with us having built more of a life here now with family, friends, work and hobbies, it feels right to stay here. This may well change in the future as we get older but for now that's the plan 🙂