Having doubts after offer accepted

danlightbulb

NewShadow said:

danlightbulb said:

If 90% of the houses were identical that would be just fine with me. This problem is caused by inadequate housing stock in terms of size of accommodation and drives/garages.

I just (!) want a normal house like everyone else has. 

You have decided this house is inadequate - I, and many others, commented that we liked the house and that the room size/ drive/ layout/ survey weren't a problem. 

You've decided this house doesn't meet your mental template for 'normal' - many others have disagreed and have said it's a perfectly acceptable house as far as they're concerned. 

It seems you don't actually care what the majority might think because you've already made up your mind... so:

1. Stop asking us our opinion; 
2. Write down what makes a 'normal' house; 
3. Don't make an offer on a house until it meets your criteria for 'Normal'... 

 Although I have had comments saying its an ok house etc, i feel that this has been done at a superficial level. I myself have acknowledged that my judgement is poor this is why I do care about others opinions but only if i think they have taken account of all the facts/issues. Do you really think this house is VFM given the modernisation needed on it, the fact its a bungalow with steps, the fact it has no driveway?

A normal house to me i guess is something that is relatively modern inside, has been maintained well with end of life items (eg boilers, windows) replaced, has good space for modern tech (tvs, pc's), has good storage, has garage and parking, has privacy. Its not my fault that house designers over decades have neglected these things.

@Tiglet2 how can i judge VFM? Perhaps the house is VFM and I cant see it, or perhaps it isnt and my worries are justified? How do i tell the diff?

Please dont misunderstand, there is a part of me that really wants this house. What i cant tell is whether im making a huge financial mistake taking it on. And because it is different to the norm, this is making it harder to judge that.

DCFC79

@danlightbulb I think you need to see a variety of houses so you can be sure what it is you actually want/ dont want from a property.

Or take a break from looking at properties and restart the search a few months later.

Doozergirl

You need to write a list of what you actually NEED and what you actually WANT. 

I'll start with the fact that you do not need to accommodate a future partner because that person is not you, they may have their own house or quite simply, your joint purchasing power will be much greater and you can then have everything you want.  Don't buy a family home and be more flexible with where you expect to carry out all these hobbies.  You can only sit in so many places at one time.   

Then, once you have your list of WANTS, you see how much those houses are being marketed at. 

Ditto with the NEEDS, how much are those?  

 

How did you manage to buy a house before?! 

Tiglet2

Dan, if you are buying at, say, £165k and you are intending to spend £75k on renovations, would the house realistically be worth £240k once all the work has been done?  If you don't think the house will be worth roughly what you spend on it, then perhaps it's not VFM.  But, according to you on this thread and the one before, nothing else has been VFM either.

danlightbulb

Doozergirl said:

 

How did you manage to buy a house before?! 

Ha great question. Ignorance? A more pressing urgency? Doing it for someone else not just me?

What I NEED is long term financial security from renting (im 40).

What I WANT is at least to get something that I feel is worth owning i.e VFM.
I also WANT to minimise spend because at 40 i realise there are more important things in life.

When i was 24 it was all about moving up the ladder. Now i have no desire to move up the ladder I guess because a) should already be there and b) out of time.

NewShadow

danlightbulb said:

  I myself have acknowledged that my judgement is poor this is why I do care about others opinions but only if i think they have taken account of all the facts/issues. 

Why is it that every time you write that I think I'm hearing your ex? 

And how do you rationalise having a poor judgement with thinking you have the judgement to decide if other's have taken into account all of the facts when judging their opinions?  

Ultimately - it does't matter if your judgement is poor or if your judgement is the best ever - you are the one buying the house and you are the one living in it so you're going to have to learn to trust your judgement sooner or later...  

Do you really think this house is VFM given the modernisation needed on it, the fact its a bungalow with steps, the fact it has no driveway?

I already said on the other thread - allowing that I've not physically seen the house, I like it and don't consider any of the things you've criticised to be negatives. I would honestly seriously consider it if it was within my target area - But that's me... not you... 

A normal house to me i guess is something that is relatively modern inside, has been maintained well with end of life items (eg boilers, windows) replaced, has good space for modern tech (tvs, pc's), has good storage, has garage and parking, has privacy. Its not my fault that house designers over decades have neglected these things.

Great - now you have your criteria... completely different from what I prioritise or value - but that's 'normal', given we're different people  

danlightbulb

My ex is an example of how my judgement is poor.

Thanks for confirming your view of the house. It does help i dont know why but it does.  I am scared of making a decision that turns out to be poor. The house is relatively unique, which is why i do like it but at the same time why it worries me.

My criteria listed dont seem to be attainable in my budget. I do recognise the dilemma but what do i compromise on? Size, condition, storage, bungalow, garage, drive? It could be any of those.

Perhaps the other thing to say about my previous houses is they were all do upers and i didnt have any capital for any of them. First one 100% mortgage in 2004 and second one 95% mortgage in 2007 used equity increase from first house to pay for windows replacement and central heating install in second one.

Slithery

danlightbulb said:

My criteria listed dont seem to be attainable in my budget. I do recognise the dilemma but what do i compromise on? Size, condition, storage, bungalow, garage, drive? It could be any of those.

Whichever one is least important to you...

Doozergirl

danlightbulb said:

My ex is an example of how my judgement is poor.

Thanks for confirming your view of the house. It does help i dont know why but it does.  I am scared of making a decision that turns out to be poor. The house is relatively unique, which is why i do like it but at the same time why it worries me.

My criteria listed dont seem to be attainable in my budget. I do recognise the dilemma but what do i compromise on? Size, condition, storage, bungalow? It could be any of those.

You're the only one that can make that decision.  

I haven't looked at anything, but on the face of it, a bungalow has the flexibility for your hobbies and I have zero idea why you need three bedrooms.    In fact, a bungalow means having one bedroom and a load of hobby space.   

Value for money fades away after the purchase.  

I do see rent as wasted if it's being spent while procrastinating.  

Enough from me.  

danlightbulb

Slithery said:

danlightbulb said:

My criteria listed dont seem to be attainable in my budget. I do recognise the dilemma but what do i compromise on? Size, condition, storage, bungalow, garage, drive? It could be any of those.

Whichever one is least important to you...

They are all equally or not important depending on the other positives/ negatives. Theres no right answer.

I guess it comes back to price like doozergirl was saying.

But then how do you judge price, just as difficult. Especially when there is such inconsistency in price even in same road.