Imposter Syndrome as FTB

ScottishSaver14

Hi everyone,

Just looking for some experiences really..

My fianc! and I will be starting our househunt soon (as in... actual viewings) and we're aiming high, and are aware there may be some disappointments along the way, but I feel like there's some major imposter syndrome going on.

I saw a house on Rightmove put up today. Great location. Needed some work. Right starting price. My mind immediately went to 'urgh, it will be gone for £50k more by Thursday'.

In true location location location style, we're willing to compromise on quite a bit (eg. Bring on the 70s decor..) to get a house in one of our 3 ideal areas. We're looking for a house we could potentially never move from, and houses have been going under offer in as little as 3 days, with an average of 10% over advertised number (offers over, Scotland) + 20% of home report :eek:

Even though our broker is confident in the numbers, we have (at ideal budget) 40% LTV and no chain blah blah I just feel like we're going to get absolutely hammered, when I know that we're as good a prospect as anyone else.

We're well aware that the easy solution is to not go for one of the 3 areas we prefer and 'move up' to that, bit between us we have moved around enough to know what we want and shoot to settle down, and we CAN do it...as long as we're not outbid by £50k :cool:

I hate having this feeling of failure before we've even started...:rotfl: please tell me I am not alone! Did anyone overcome this kind of thing?

Bossypants

Ask yourself this: What's the absolute worst thing that could happen if you go for the house you like best in the area you like best?

The answer is that the absolutely, literal worst thing that could happen is that you are told no and get disappointed. That's it. And if you're old enough to be getting married, surely you're old enough to handle some disappointment?

My advice is start at your ideal and work down from there (if you need to). House buying is all about getting as close to your idea of perfect as you can for the money you have, and you'll never know where that line is unless you start high and work down. If you start lower than you expect the line to be, though, you'll never know what you could have had if you'd tried.

Out,_Vile_Jelly

Stop overthinking it. Sign up to view loads of different properties, inc ones that don't on paper tick many of your boxes. The more you view, the more you see what your money gets you, and where you'll be willing to compromise.


Have your AIP and solicitor details ready for the agent and be polite, professional but persistent when dealing with them. If you give prompt, succinct feedback after viewings this helps mark you as a serious buyer.

AnotherJoe

Most likely you'll be posting in a few months saying "we bid £££" were accepted immediately and now I'm thinking we bid too much shall i pull out".
You sound like a "glass is mostly empty with a crack" kind of person



Stop trying to double guess what might and might not happen and just get on with it. 40% depsoit you have plenty of leeway and you arent in a chain either.

LandyAndy

Bossypants wrote: »

And if you're old enough to be getting married, surely you're old enough to handle some disappointment?

How very true

Albala

Ask for what you want, and settle for what you can get. With a bit of luck, they will be the same!

Seriously, I think I'd try for what you really wanted, because you never know, you could be lucky, but don't get too emotionally involved or wedded to all the things you would like in an ideal world, and be prepared to adjust your expectations down a bit.

If you are persistently outbid, then you will have to compromise. But there's not point compromising right at the start, surely?

ScottishSaver14

Hi everyone,

Thanks very much for the feedback! You're all totally right with all your points (well, cracked glass aside! Haha )

Starting at the top standard and working down seems to be the way to go, and the worst that can happen is we have to readjust our expectations.

Thanks for taking the time

Albala

Good luck!