Having doubts after offer accepted

danlightbulb

I just need to be sure Im not making a terrible mistake. I know the house has some downsides, but I do like it, and I do think buying a house would be better for me financially than continuing to rent. I just need some reassurance that Im not digging myself a hole I won't be able to get out of.

intmilkbrilliant

If you're not paying a bungalow premium and are getting the same as what you'd get with a similar house in the area, what extra risk are you taking on buying this property?

danlightbulb

intmilkbrilliant wrote: »

If you're not paying a bungalow premium and are getting the same as what you'd get with a similar house in the area, what extra risk are you taking on buying this property?

Yeah I guess very little? Assuming its not got some fundamental problem that would make no one want to buy it in future that I am missing?

This house just went up for sale a few doors down:
https://www.rightmove.co.uk/property-for-sale/property-88635779.html

Also north facing, smaller garden, no garage, no rear access. Has a good size driveway, is 2 storey detached, has been done out nice. If that price is realistic, then it should give me some confidence? The question is what would the limitations of my house (driveway, elevated bungalow) affect the price by if it were to the same standard?

Skiddaw1

danlightbulb wrote: »

I just need to be sure Im not making a terrible mistake. I know the house has some downsides, but I do like it, and I do think buying a house would be better for me financially than continuing to rent. I just need some reassurance that Im not digging myself a hole I won't be able to get out of.

I still think you're a terror for overthinking things Dan (in the nicest possible way....)


For what it is worth, my opinion is that you could do a lot worse. It's a good size, in a good plot, in reasonably good nick and it has character. It also has plenty of scope for you turning it into the house of your dreams. You could move in just as it is and take plenty of time in considering how you use the space and what you want to do (depending on your budget). If you can get planning permission for a loft conversion (and have the money) I reckon it would be well worth it.



But if it really feels wrong walk away. It's just that I think you'll be having 'buyer's remorse' whatever you eventually decide upon.


Good luck!

oldernonethewiser

danlightbulb wrote: »

Yeah I guess very little? Assuming its not got some fundamental problem that would make no one want to buy it in future that I am missing?

This house just went up for sale a few doors down:
https://www.rightmove.co.uk/property-for-sale/property-88635779.html

Also north facing, smaller garden, no garage, no rear access. Has a good size driveway, is 2 storey detached, has been done out nice. If that price is realistic, then it should give me some confidence? The question is what would the limitations of my house (driveway, elevated bungalow) affect the price by if it were to the same standard?

I guess they don't like gardening. Their front area looks horrendous.


The bungalow and that place are so different that it is like comparing apples and oranges.

davidmcn

laptop80 wrote: »

you could convert the front garden into a driveway and ramp up to the front door. You could even put a wheelchair lift in up to it.

Or just enter from the rear (assuming that's level).

youth_leader

I'm downsizing from a 5 bed that needs renovation, sadly can't afford a bungalow in my county, Northumberland. Will have to have a two bed house with stairs instead, hopefully with separate dining/reception rooms so one could be a bedroom one day. I am intrigued as to why it is such a low price - have you had any search results? Let us know if you find out any more.

Skiddaw1

youth_leader wrote: »

I'm downsizing from a 5 bed that needs renovation, sadly can't afford a bungalow in my county, Northumberland. Will have to have a two bed house with stairs instead, hopefully with separate dining/reception rooms so one could be a bedroom one day. I am intrigued as to why it is such a low price - have you had any search results? Let us know if you find out any more.

I wonder if vendor is after a quick sale? Based on furnishings and general jizz of interior someone elderly has been living there. Probate possibly, or sale needed to fund nursing home?

danlightbulb

oldernonethewiser wrote: »

I guess they don't like gardening. Their front area looks horrendous.

That's pretty normal round here. Pretty front gardens are quite old fashioned and don't suit areas like this that well, its not a pretty village setting here.

oldernonethewiser wrote: »

The bungalow and that place are so different that it is like comparing apples and oranges.

I know but this is problem I have to overcome in my mind. My target market should I wish to sell this house would be the same as that 2 storey - because I am not old or immobile. I am trying to determine if this stigma against bungalows will be a problem, and people are saying it isn't whilst making posts (like yours) which imply that it will be. eg "they are so different".

lincroft1710

If you carry on in a similar vein, you will end up not buying a property!

All property is a compromise, even higher up the market. OK that bungalow needs money spending on it to bring it into the 2020s, but in a reasonably short space of time so will most properties. Rare for a bungalow in having good size lounge and 3 double bedrooms. I would prefer it any day of the week compared to that £230K house