Having doubts after offer accepted

danlightbulb

Hi all.

Further to my thread a few weeks back where i was exploring houses. A bungalow was suggested here which I went to look at and after some thought, put in an offer which was accepted.

http://www.rightmove.co.uk/s6p/57484677

I am just still having doubts about it. It has several positives: its detached, reasonably sized, in a nice looking road, good size garden, seemingly a good price.

But the lack of driveway is still on my mind as is the fact its a bungalow. I find myself wondering if this is why it wasnt snapped up sooner, i.e perhaps i am overestimating its desirabilty. Why did I get this house, why was there less competition for it than other houses i have offered on and lost out on?

Financially i would be paying about the same as my rent is now. But the house needs modernisation as well.

I am struggling to be sure if it is or is not a good deal. And whether the driveway and perhaps more importantly the awkwardly sized frontage to enable one to be built, should stop me going ahead.

Im on my own and struggle with big decisions.

davidmcn

I wouldn't see the lack of driveway as a problem when there's plenty of space to park on the road. You can probably create one, but I'd rather have a front garden than an expanse of concrete like the neighbours.

(ETA: and definitely not a problem if there's a garage at the back anyway)

oldernonethewiser

You need to list the pros and cons, as you see them.


Certainly it needs some work is that within your budget?


No driveway and being a bungalow would be low on my list of negatives, but perhaps much higher on yours.

orangecrush

Bit of winner's curse happening maybe?


I read your other thread and recognised a lot of myself in your thought processes. Having bought and now lived in a house for 4 years that I had similar doubts about (but now love), I have this to say:


Do you like the house? Yes/no
Do YOU think the price for the house is fair? Yes/no
Can you do the work? Yes/no


Those are the things you need to focus on I think. I wonder if you would have the same thoughts and doubts about any house, so, I suggest you isolate it to the immediate situation, otherwise there's a chance you'll repeat this process time and time again.

LandyAndy

It looks as if there is vehicle access at the rear? If so then lack of a driveway wouldn't be a concern, and in any case it looks like you can park on the road at the front.
It definitely needs some 'modernising' but as far as you can tell from the pictures it looks clean and well kept.
Looks a decent house to me.

youth_leader

What is the garage at the back like, can you get your car into it?

danlightbulb

orangecrush wrote: »

Bit of winner's curse happening maybe?

Do you like the house? Yes/no
Do YOU think the price for the house is fair? Yes/no
Can you do the work? Yes/no

Those are the things you need to focus on I think. I wonder if you would have the same thoughts and doubts about any house, so, I suggest you isolate it to the immediate situation, otherwise there's a chance you'll repeat this process time and time again.

I probably would have concerns about any house yes, unless it was perfect and cost £1. It's about knowing what I should and shouldn't compromise on. I pulled out of a purchase back in November as well, but the reasoning for that one was financial - I was stretching my budget too far and realised it. So that's when I lowered my budget to a figure which would be no more than my current rent payment. This one meets that new criteria.

To your questions:
Do you like the house? Yes/no - I do, but recognise the limitations. Its detached, good garden, reasonably large inside, on a seemingly good road (you can never tell 100% but there are large detached houses on the road). Downsides are frontage, having no upstairs, and concerns about its kerb appeal should I want to resell in future. I would say aside from the bungalow stigma, its 80:20 towards like.

Do YOU think the price for the house is fair? Yes/no - to the best I can tell from extensive searching of the neighbouring area, it seems reasonably priced. But other houses that I have seen sold prices of all had driveways. This has a bigger garden than almost all previous sales. I am finding it difficult to judge how the lack of driveway and internal condition should influence the price.

I have also been searching other houses for sale. I have yet to find anything which has the features of this house for anywhere near the same money. I am finding that semi-detached and terraced with very small gardens, although most with parking, are the same if not more money than this one. That makes me wonder to be honest - is there something wrong with this house that I am not seeing?

Can you do the work? Yes/no - I can do a lot yes. Would have to get trades in for heating work and plastering. I wouldn't be able to do everything at once obviously, this would be an ongoing project. I would want to be sure that the things that need to be solid, are solid so I can live there. I would be getting a private homebuyers survey on top of basic lender valuation.

davidmcn wrote: »

I wouldn't see the lack of driveway as a problem when there's plenty of space to park on the road. You can probably create one, but I'd rather have a front garden than an expanse of concrete like the neighbours.

(ETA: and definitely not a problem if there's a garage at the back anyway)

Most people, myself included, wouldn't want the hassle of having to drive round the back of your house to park every night? Parking on the road might seem a small thing to many, and maybe it will be until the day my car gets keyed on the roadside then I would maybe think it was a bad decision?

I guess in my head I have a stereotype of what a house should be. Parking on the front behind a small wall/gate. Small area of plants to the side. House behind around 8m back from the road. Side access to rear. Your point about front garden is interesting. If I lived in a nice countryside village then I'd agree it would suit the location, but where I am, a modern block paved frontage with low maintenance planting is the norm.

I guess what I want most for this house is:
* for it to fit into its surroundings;
* for it to look modern from the outside;
* for it to have kerb appeal from the outside.

Can I achieve that with this house?

youth_leader

I think it's lovely, but I'm 63 and looking to downsize.

Will you follow your heart or your head?

davidmcn

danlightbulb wrote: »

Most people, myself included, wouldn't want the hassle of having to drive round the back of your house to park every night?

Not sure why driving to the back of the house need be more "hassle" than driving to the front?

Parking on the road might seem a small thing to many, and maybe it will be until the day my car gets keyed on the roadside then I would maybe think it was a bad decision?

Would you want to move to the sort of area where the locals randomly vandalise cars anyway? I've lived in two inner city locations for the past 10+ years where I often can't even park within sight of my flat, and never had cars damaged. Would seem even less likely in what appears to be a quiet suburban road. And if you were concerned, you've got a garage to hide your car in.

oldernonethewiser

danlightbulb wrote: »

I probably would have concerns about any house yes, unless it was perfect and cost £1. It's about knowing what I should and shouldn't compromise on. I pulled out of a purchase back in November as well, but the reasoning for that one was financial - I was stretching my budget too far and realised it. So that's when I lowered my budget to a figure which would be no more than my current rent payment. This one meets that new criteria.

To your questions:
Do you like the house? Yes/no - I do, but recognise the limitations. Its detached, good garden, reasonably large inside, on a seemingly good road (you can never tell 100% but there are large detached houses on the road). Downsides are frontage, having no upstairs, and concerns about its kerb appeal should I want to resell in future. I would say aside from the bungalow stigma, its 80:20 towards like.

Do YOU think the price for the house is fair? Yes/no - to the best I can tell from extensive searching of the neighbouring area, it seems reasonably priced. But other houses that I have seen sold prices of all had driveways. This has a bigger garden than almost all previous sales. I am finding it difficult to judge how the lack of driveway and internal condition should influence the price.

I have also been searching other houses for sale. I have yet to find anything which has the features of this house for anywhere near the same money. I am finding that semi-detached and terraced with very small gardens, although most with parking, are the same if not more money than this one. That makes me wonder to be honest - is there something wrong with this house that I am not seeing?

Can you do the work? Yes/no - I can do a lot yes. Would have to get trades in for heating work and plastering. I wouldn't be able to do everything at once obviously, this would be an ongoing project. I would want to be sure that the things that need to be solid, are solid so I can live there. I would be getting a private homebuyers survey on top of basic lender valuation.




Most people, myself included, wouldn't want the hassle of having to drive round the back of your house to park every night? Parking on the road might seem a small thing to many, and maybe it will be until the day my car gets keyed on the roadside then I would maybe think it was a bad decision?

I guess in my head I have a stereotype of what a house should be. Parking on the front behind a small wall/gate. Small area of plants to the side. House behind around 8m back from the road. Side access to rear. Your point about front garden is interesting. If I lived in a nice countryside village then I'd agree it would suit the location, but where I am, a modern block paved frontage with low maintenance planting is the norm.

I guess what I want most for this house is:
* for it to fit into its surroundings;
* for it to look modern from the outside;
* for it to have kerb appeal from the outside.

Can I achieve that with this house?

Having used a garage at the back of a house for many years I never thought of it as a hassle. Is there something about this particular house/garage combo that makes it a hassle?


Reading your comments I think you are on the point of talking yourself out of this as it is not your "ideal"


Your decision but you will search for a long time to find that ideal place.

danlightbulb

youth_leader wrote: »

I think it's lovely, but I'm 63 and looking to downsize.

Will you follow your heart or your head?

Does this demonstrate exactly the worry I have about stigma?

All the articles I have read online suggest that bungalows are normally more in demand and more expensive than the equivalent sized 2 storey house. Given this, why is this house so keenly priced, why wasn't there more competition for it?

oldernonethewiser wrote: »

Having used a garage at the back of a house for many years I never thought of it as a hassle. Is there something about this particular house/garage combo that makes it a hassle?

Reading your comments I think you are on the point of talking yourself out of this as it is not your "ideal"

Your decision but you will search for a long time to find that ideal place.

See above. I want to be sure I am buying something that I can sell on again in future and I am uncertain why there wasn't more competition for this house. If I can feel comfortable on that point I would probably proceed.