Offer accepted but having doubts help!!

Lily91

Hi all,

First time posting so bare with me.....i’m a single first time buyer and been living with my parents for the past two years while trying to save up for a deposit. My goal is to get a house but with my current salary (I just got promoted) I still can’t afford it for my area - I don’t want to move out of my local area either for fears or isolation/depression plus it would cost more to travel into work.

Anyway, a 1 bedroom maisonette in a nice local area recently came back on the market n I quickly arranged a viewing; I initially dismissed it as I thought it was too small n dingy but my mom who viewed it with me thought it was great - the estate agent was clear the flat had a lot of interest so if I wanted it I had to act fast. I went home n thought about it - maybe I was just being too picky n this is the best i’m gonna get for my budget. I had a second viewing the next day n thought the place was ok - i was told an offer had already come in so I made an offer 3k over the asking price to secure it - I panicked n completely regret this.

The offer was accepted and now i’m at the stage where I need to give all my details etc to the estate agent but I can’t shift this feeling that I’m doing the wrong thing - I know I can’t afford a house yet, even if I stayed at home another few years but I need my own space however a 1 bedroom anything seems abit pointless? Urgh my parents think the place is a bargain n that I won’t find anything else anytime soon (i’ve been looking for a year but only seriously going to viewings in the past 6 months)

In terms of price this place is very cheap and comes with basically everything I wanted (private garden, central heating, peppercorn ground rent, extended lease, nice area) but I just didn’t fall in love with it? I think I just settled and been swayed by my family as it might be the best I can find pre-Brexit and with my budget

Anyone else felt like this? I’ve literally been sick, can’t eat or sleep properly. I’ve never suffered with anxiety before but this might be what this is: my family think i’m just nervous n I will love the place but I just don’t know....my head is saying yes but my heart is saying no, bottom line is I don’t want to waste anyone’s time, especially the seller.

sillyhilly

It's a large financial commitment, and if you're not 100% sure or ready to take that on, you should take a step back and wait.

In my opinion, that's all there is to it.

pinkteapot

While I agree with sillyhilly, I do think you need to consider what you want more - a bigger property, or to stay in your current area. You've been looking for a year and this is the best you can afford in your area. Yet you want somewhere bigger. From what you've said, you simply won't get that unless you're prepared to move away. At some point you do need to decide which you value more - location or property size. Are you just hoping that by some miracle something bigger yet affordable will come up in the right location?

BelowTheLine

If you're feeling this torn now, I can't imagine it'll get any better as the purchase progresses.

OldMusicGuy

Make a decision now one way or the other. Nothing bad about pulling out now but IMO it's far worse to hang on for a few weeks and then decide to pull out after wasting everybody's time. You're an adult, make a decision.

We're selling and had someone put in a offer which we accepted. He was a right nervous nellie and faffed around for 3 weeks wasting everyone's time and then just got cold feet and pulled out for no good reason. Really p***ed us off. Wouldn't have minded if he said straight away he had changed his mind but three weeks off the market killed us.

Like others said, it sounds like you have cold feet already and I can't see that changing. You need to make the decision, not your family (unless they are buying it for you.....).

dancing_star

Are your parents sick of having you live there?



If they are encouraging you to buy it maybe they are gently dropping hints!

Cakeguts

I think you should buy it. It is within your budget and it has everything that you need. What you want you can't afford. No property is going to be perfect. I expect you are looking for what you will never find.

ethank

I think most buyers have remorse. They keep overthinking things. Well I know I did anyway. I would not worry about overpaying by 3k. 1 bedroom anything seem pointless? You'll have a foot on the property ladder, and somewhere to call you own.

oystercatcher

Ok , so think through the alternatives. If you stayed put for 1 year , 2 years , and saved every spare penny, got extra job, whatever you could. How much could you save and what would that buy ? Is it any better? Meantime will you have killed your parents or them you because of living together ?

Most of us start out living somewhere less than perfect, it's how the system works.

Lily91

Thank you all for your replies

My parents are fine with the idea of me living with them longer but they think i’d be a fool not to get this property.

Funnily enough I had just started a second job to help with saving a bigger deposit; The original plan was to just save up for another year n see what I can get but then I saw this property come back on the market.

Whilst a house is a long way off I was hoping to find a two bedroom maisonette (most come with a garden) as the extra room would give me more security in the long run (I don’t think i’d mind a lodger)

I think either the sudden rush has just thrown me off or I’m still hoping something better will come along: I think most of you are right, if I feel this way now it’s not going to get better I just don’t want to regret it either way

Dark_Star

Why did it come back on the market? Something dodgy on the survey ? Although could be issue with the previous buyer & nothing to do with the property. Will the agent say why? Worth asking.


How long was it on the market to start with? (I rarely believe the agents woffle).


How many times has it sold over the last few years? Plenty of sites can show this. If up for sale every couple of years then it's either a starter home that's grown out of too quickly or there is something else to think about that is not obvious.


If it's dingy in the summer - what will it be like in the winter? Very depressing.....


Can you look a few roads out of your comfort zone & see if these are any better/cheaper?

If you're not sure now, how are you going to feel when you live there?


I would extend the area & keep looking....