Really confused about what I want :(

trix-a-belle

alternatively an out of the box idea, write a letter outlining your budget, rough requirements/reason their house appeals & desires to live in the area, do serious amounts of research of where you wouldn't be putting peoples noses out of joint based on your budget and their property values & that the likely layouts will suit your needs, and post it through letterboxes, maybe you'd get a bite, maybe you wouldn't, at least you're then doing more than waiting for the right house to drop into your lap on the open market.

Tiglet2

danlightbulb said:

Hi, yeah I realise that. London is crazy. I do understand I am fortunate in one way to be able to buy something. But that doesn't mean I should just buy anything. Because I have certain needs, which I consider to be fairly basic really. A family with 2 kids might not be willing to settle for a 2 bed house for example. I don't care about bedrooms but I do want reasonable downstairs living space. Its a little unfair of people to say I'm unwilling to compromise I think because in my opinion Im not looking for a unicorn. Would you be saying the same to the family who wanted a 3 bed, that they can't afford it and buy a 2 bed instead? 

Hi, yeah I realise that. London is crazy. I do understand I am fortunate in one way to be able to buy something. But that doesn't mean I should just buy anything. Because I have certain needs, which I consider to be fairly basic really. A family with 2 kids might not be willing to settle for a 2 bed house for example. I don't care about bedrooms but I do want reasonable downstairs living space. Its a little unfair of people to say I'm unwilling to compromise I think because in my opinion Im not looking for a unicorn. Would you be saying the same to the family who wanted a 3 bed, that they can't afford it and buy a 2 bed instead? 

I was a landlord until recently.  The people renting my two bed house were a family with 4 kids.  The parents slept on a sofa bed in the lounge and the two boys had one bedroom, the two girls another.  They have now moved to a three bed house but they were in my two bed house for nearly 10 years (only 1 child when they moved in!).  No doubt they didn't want to compromise but their budget didn't allow for what they "wanted".  My two bed house was in a good location, the three bed house isn't but they have compromised on a bigger house for the same money in a worse location.  So yes, I am saying that you should buy something a little less than you "want".  It won't be perfect but it will be yours.  Don't be scared, just jump in.  If you absolutely hate it, then you have the option to move again in a few years.  It's got to be better than being in a rental when you're retired.

Tiglet2

danlightbulb said:

Tiglet2 said:

danlightbulb said:

Im feel that I'm not expecting anything more than what should be considered really quite a basic/essential specification. 

It feels like people are saying, to use a car analogy, that because I can't afford to get a car with four wheels I should be happy with a motorbike.

Your basic/essential specification wouldn't get you a shoebox in London.  Similarly it doesn't (quite) get what you want in Tipton. Therefore location is more valuable and pricier than the size of the property.  The compromise is location versus size of property - somewhere in the middle is what you need to aim for.  If you cannot do that, then there really is no point going over and over it and wasting your own and everyone else's time.

Hi, yeah I realise that. London is crazy. I do understand I am fortunate in one way to be able to buy something. But that doesn't mean I should just buy anything. Because I have certain needs, which I consider to be fairly basic really. A family with 2 kids might not be willing to settle for a 2 bed house for example. I don't care about bedrooms but I do want reasonable downstairs living space. Its a little unfair of people to say I'm unwilling to compromise I think because in my opinion Im not looking for a unicorn. Would you be saying the same to the family who wanted a 3 bed, that they can't afford it and buy a 2 bed instead? 

I think you're right that its my tight location creating issues for me overall. Im concerned/scared that if move more than a certain (small) distance away that I will feel cut off. I see moving away, even a few miles, as me giving up on one life and starting fresh.

Sorry meant to quote your response to my earlier post!

carefullycautious

I'm afraid it is unreasonable that's why you are still in your rental. I understand it is a bitter pill to swallow as all the houses I look at are what others do not want, the best ones get snapped up. Have you tried posting flyers through the doors of houses you would like in the area you want. Chat down at your local pub about what you are looking for and see if someone has a relative/friend who may be considering moving. 
But as everyone else has said your expectations are really going to have to come down. 
(For what its worth my upright piano and subsequent lessons took place in a 2up 2 down)
This is the type of house that would suit you see floor plan ex council 
https://www.rightmove.co.uk/property-for-sale/property-73321671.html

danlightbulb

Tiglet2 said:

I was a landlord until recently.  The people renting my two bed house were a family with 4 kids.  The parents slept on a sofa bed in the lounge and the two boys had one bedroom, the two girls another.  They have now moved to a three bed house but they were in my two bed house for nearly 10 years (only 1 child when they moved in!).  No doubt they didn't want to compromise but their budget didn't allow for what they "wanted".  My two bed house was in a good location, the three bed house isn't but they have compromised on a bigger house for the same money in a worse location.  So yes, I am saying that you should buy something a little less than you "want".  It won't be perfect but it will be yours.  Don't be scared, just jump in.  If you absolutely hate it, then you have the option to move again in a few years.  It's got to be better than being in a rental when you're retired.

I do understand many people are in these situations because they have no other option. That is slightly different I think to buying yourself into a worse option by choice. But I do understand your point. I can't think of much worse than being in rented after retirement, most fundamentally my income won't cover the bills. Bit of a show stopper that.

Im not sure how to deal with this constant problem I have regarding competition for houses. Many of the houses I look at sell quickly, that tells me that I'm selecting fundamentally good houses and in line with what everyone else likes. The ones that are left sometimes sit on the market for months, or never sell at all, and that tells me that my views are in line with everyone else's on those too. So its fairly clear that the houses I like, tend to be the ones everyone else likes too. What can I do about this? Its a slightly different issue to the choice of compromises. On the one hand dealing with strong competition is frustrating, but strong competition validates that Im selecting good houses overall.

NinjaTune

You have £5,000 put aside for a piano - why not put that towards your purchase instead which should bring other, more desirable, properties into your budget.  You can always save up again to purchase an upright and use your digital in the meantime. 

How much would you get for the digital on the secondhand market?  Will your mortgage be cheaper vs your current rent?  Both of these things could help you save again for an upright in a shorter space of time.

It's not just that you want "a driveway and a reasonably sized living space", you want that plus numerous other things within a very restricted area and that is obviously not working out well.  Increase your budget with the piano money, save like a demon whilst still looking and you may well find that your desired property is actually within financial reach.

danlightbulb

carefullycautious said:

I'm afraid it is unreasonable that's why you are still in your rental. I understand it is a bitter pill to swallow as all the houses I look at are what others do not want, the best ones get snapped up. Have you tried posting flyers through the doors of houses you would like in the area you want. Chat down at your local pub about what you are looking for and see if someone has a relative/friend who may be considering moving. 
But as everyone else has said your expectations are really going to have to come down. 
(For what its worth my upright piano and subsequent lessons took place in a 2up 2 down)
This is the type of house that would suit you see floor plan ex council 
https://www.rightmove.co.uk/property-for-sale/property-73321671.html

Yes that house would be fine with me, provided the area is not rough. Should I move to Redditch to get it, because I can't get it here?

NinjaTune said:

You have £5,000 put aside for a piano - why not put that towards your purchase instead which should bring other, more desirable, properties into your budget.  You can always save up again to purchase an upright and use your digital in the meantime. 

How much would you get for the digital on the secondhand market?  Will your mortgage be cheaper vs your current rent?  Both of these things could help you save again for an upright in a shorter space of time.

It's not just that you want "a driveway and a reasonably sized living space", you want that plus numerous other things within a very restricted area and that is obviously not working out well.  Increase your budget with the piano money, save like a demon whilst still looking and you may well find that your desired property is actually within financial reach.

An extra £5k makes no difference. I already have more deposit than my max mortgage. So what I mean is that I already can spend upto £25k deposit (which at 10% gives me a theoretical max property price of £250k). However the max mortgage I want for month to month affordability is about £620 per month, which is about £162k. Add on my £25k deposit = £187k give or take.

Adding £5k more to this pot (£187k+£5k=£192k) makes no difference to what houses are available because within a range of say £170k - £220k, there isn't anything any different.

For the same reasons, continuing to save make no difference either, because house price inflation just eats away at the rate I can save at. I could save about £3-4k per year maximum, and that's gone up lately because of working from home (saving on fuel and lunches and going out).

RelievedSheff

danlightbulb said:

Chandler85 said:

Your car analogy is rubbish.  Basically you want a Range Rover, with heated seats, 4 wheel drive, blacked out windows and a pimped up engine and all the other mod cons.

Your budget can afford you a Suzuki Jimney.  You still get the car but not the one you want.

You are unwilling to buy a Jimney, but you can't afford a Range Rover, so are currently renting a Range Rover then complaining that you can't buy one.

It's simple, you cannot afford what you want, you will not make a compromise, I suggest you join Crashy waiting for market to correct itself and all house prices to plummet and you can buy your house.  Be warned, Crashy has been waiting a while already.

I just dont agree that what Im asking for is unreasonable. The specification I am looking for is not a luxury specification in my view, but are fundamentals. You're suggesting I compromise on the fundamentals and that is incredibly difficult to do.

You may not agree but the reality is that what you are looking for does not exist within your budget, hence the unicorn reference. What you are looking for can not be found.

RelievedSheff

danlightbulb said:

Tiglet2 said:

danlightbulb said:

Im feel that I'm not expecting anything more than what should be considered really quite a basic/essential specification. 

It feels like people are saying, to use a car analogy, that because I can't afford to get a car with four wheels I should be happy with a motorbike.

Your basic/essential specification wouldn't get you a shoebox in London.  Similarly it doesn't (quite) get what you want in Tipton. Therefore location is more valuable and pricier than the size of the property.  The compromise is location versus size of property - somewhere in the middle is what you need to aim for.  If you cannot do that, then there really is no point going over and over it and wasting your own and everyone else's time.

Hi, yeah I realise that. London is crazy. I do understand I am fortunate in one way to be able to buy something. But that doesn't mean I should just buy anything. Because I have certain needs, which I consider to be fairly basic really. A family with 2 kids might not be willing to settle for a 2 bed house for example. I don't care about bedrooms but I do want reasonable downstairs living space. Its a little unfair of people to say I'm unwilling to compromise I think because in my opinion Im not looking for a unicorn. Would you be saying the same to the family who wanted a 3 bed, that they can't afford it and buy a 2 bed instead? 

I think you're right that its my tight location creating issues for me overall. Im concerned/scared that if move more than a certain (small) distance away that I will feel cut off. I see moving away, even a few miles, as me giving up on one life and starting fresh.

Don't you realise yet that what you are looking for in your tiny search area does not exist within your budget.

Either the budget has to be higher or you have to compromise on the house or location. You can not have everything that you want in your budget.

Mojisola

NinjaTune said:

You have £5,000 put aside for a piano

Once you have your own place, you could well pick up a piano for free.  They come up on our local FB selling/Freegle sites reasonably often.

Relatives got a beautiful piano last year for the cost of transporting and tuning.