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New house with help to buy or renovate old house?
Comments
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100k in current condition or when done up?Supersunnygirl said:We have lived here almost 3 years. I think most houses like this would sell for around 100k.
As it’s your grandmothers house could you have a survey done now and that will help your decision making if you’re worried it’ll flag up something nasty!
Also get quotes for the work
it needs
i think I’d be inclined to buy it; 25 year mortgage and overpay. Well up in a few years I’d you want to. The new builds almost 3 x the cost 😱MFW 2026 #5007/03/25: Mortgage: £67,000.00
Mortgage:
04/04/26: £33,500
07/03/26: £34,418.15
16/01/26: £56,794.25
02/01/26: £60,223.17
12/08/25: Mortgage: £62,500.00
12/06/25: Mortgage: £65,000.00
18/01/25: Mortgage: £68,500.14
27/12/24: Mortgage: £69,278.38
Savings: £20,0000 -
My two pennies:
Don't assume the new build will sell quicker when it's time to move on. In my area, these are the type of houses that hang around (it might be different in your location though). People love the character/period properties and they seem to sell very quickly.
I like cooking with wine......sometimes I even put it in the food!1 -
Done up I think. Thats a very good idea, and I really should have a builder give me some quotes before deciding. I will also take on board the idea of over paying, rather than signing up to a shorter mortgage.
It is but its in the area I would one day like to move to and that really is the silver lining and not having to live in a building site.
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I think its the area that would help it sell faster.0
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I understand that, but you’ve said it’s smaller and neither property is long term home. If it was more your long term home then I would say that would sway you moreSupersunnygirl said:Done up I think. Thats a very good idea, and I really should have a builder give me some quotes before deciding. I will also take on board the idea of over paying, rather than signing up to a shorter mortgage.
It is but its in the area I would one day like to move to and that really is the silver lining and not having to live in a building site.MFW 2026 #5007/03/25: Mortgage: £67,000.00
Mortgage:
04/04/26: £33,500
07/03/26: £34,418.15
16/01/26: £56,794.25
02/01/26: £60,223.17
12/08/25: Mortgage: £62,500.00
12/06/25: Mortgage: £65,000.00
18/01/25: Mortgage: £68,500.14
27/12/24: Mortgage: £69,278.38
Savings: £20,0000 -
Get on the property ladder; overpay your mortgage and then when the time comes to move you’ll have capital in existing property
I would definitely get survey and quotes first and then make your decisionMFW 2026 #5007/03/25: Mortgage: £67,000.00
Mortgage:
04/04/26: £33,500
07/03/26: £34,418.15
16/01/26: £56,794.25
02/01/26: £60,223.17
12/08/25: Mortgage: £62,500.00
12/06/25: Mortgage: £65,000.00
18/01/25: Mortgage: £68,500.14
27/12/24: Mortgage: £69,278.38
Savings: £20,0000 -
Also put the numbers into a mortgage calculator; that may also help you decideMFW 2026 #5007/03/25: Mortgage: £67,000.00
Mortgage:
04/04/26: £33,500
07/03/26: £34,418.15
16/01/26: £56,794.25
02/01/26: £60,223.17
12/08/25: Mortgage: £62,500.00
12/06/25: Mortgage: £65,000.00
18/01/25: Mortgage: £68,500.14
27/12/24: Mortgage: £69,278.38
Savings: £20,0000 -
Thank you thats good advice. I think the thing is I just want to buy now. Slightly concerned we will be priced out of the market faster than I can save otherwise.0
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I definitely understand that; but don’t rush into an expensive purchase because of this.Supersunnygirl said:Thank you thats good advice. I think the thing is I just want to buy now. Slightly concerned we will be priced out of the market faster than I can save otherwise.
Get as much information as you can so you can make an informed decision and weigh up the pros and condition of both
Good Luck and let us know what you decide 👍MFW 2026 #5007/03/25: Mortgage: £67,000.00
Mortgage:
04/04/26: £33,500
07/03/26: £34,418.15
16/01/26: £56,794.25
02/01/26: £60,223.17
12/08/25: Mortgage: £62,500.00
12/06/25: Mortgage: £65,000.00
18/01/25: Mortgage: £68,500.14
27/12/24: Mortgage: £69,278.38
Savings: £20,0000 -
The thing about the new build is that you could only buy it with HTB - which means when you come to sell you won't be able to sell to people just like you - unless of course the rules and housing market has changed. So who would the buyers be? That is what would worry me about buying with help. How well are ex-new builds selling in that area at the moment?
But a banker, engaged at enormous expense,Had the whole of their cash in his care.
Lewis Carroll0
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