Advice choosing between 2 properties

AdrianC

20% extra money for 12% extra space, more usable space, end of terrace, more garden, more parking, etc etc.

Seems like a no-brainer to me.

apyabt

hazyjo said:

I'd compare against older houses. The minute you move in, it'll be "second hand" and it's those you'll need to consider if you ever move. Long term, it's unlikely to be worth more cos it's a newer build.

I was the second owner of a house once. Buyers had paid an enormous price tag at the time (400k), well over market value elsewhere. When they came to sell, I bought 8 years later for around 35k more. Other properties had risen over 50% and the Zoopla valuation was around £150-200k over (I forget). Not saying take a blind bit of notice what Zoopla says, but just an example of how the general area had increased.

At that sort of price level, it sounds like a much bigger increase for the same number of bedrooms. The figures don't mean a lot to me, it would be about layout and how spacious the rooms feel. Do you have any links or floor plans to share?

£315k house


£375k house

apyabt

hazyjo said:

I'd compare against older houses. The minute you move in, it'll be "second hand" and it's those you'll need to consider if you ever move. Long term, it's unlikely to be worth more cos it's a newer build.

I was the second owner of a house once. Buyers had paid an enormous price tag at the time (400k), well over market value elsewhere. When they came to sell, I bought 8 years later for around 35k more. Other properties had risen over 50% and the Zoopla valuation was around £150-200k over (I forget). Not saying take a blind bit of notice what Zoopla says, but just an example of how the general area had increased.

At that sort of price level, it sounds like a much bigger increase for the same number of bedrooms. The figures don't mean a lot to me, it would be about layout and how spacious the rooms feel. Do you have any links or floor plans to share?

Yes this is our concern as we know new build prices are often pretty inflated. We're fairly confident about the value of them though, they are in a great area new the city centre but in a very green space, close the train station, overlooking a river, and they're small, high-end developers building only 25 or so properties, and are eco houses, so are extremely energy efficient. 
There are similar houses that about 5 years old in the area. They have a better view and location, and are 4 bed. They're being sold now for £450k successfully from what I can see, but they don't have parking and have less outdoor space (ours have a balcony, rood terrace and garden).
I've attached the floor plans on my previous comment, would be great to get your opinion. The main thing that I like about the more expensive property is the layout of the ground floor. It feels like there is a distinction between the spaces due to the layout. We currently live in an apartment where the kitchen/dining/living is in one long room, and I am not a fan of it. 

apyabt

RelievedSheff said:

I would pay the extra to be semi detached rather than mid terraced and get the larger house and extra parking space.

Having suffered with noisy neighbours in the past we would want as few attached neighbours as possible!

1 less neighbour is certainly a big selling point for me, less chance for someone noisy!

apyabt

GDB2222 said:

You are paying £275 per sq ft for the smaller house. The extra 130 sqft are costing nearly £500 psf. Bear in mind that both houses have the same electric systems, central heating etc, so the extra footage is rather cheap to build.  You may therefore be able to get more discount on the larger property. Just a thought. Plot size is also important.

Yeah, if we even it out in terms of price per square foot the more expensive property is worth about £351k. I think with the additional benefits an offer for £360k is reasonable - what do you think? Not sure how much an extra parking space is worth. 

apyabt

pbartlett said:

Is the rear garden south or west facing on the more expensive one - that would sway me...

The garden is actually north facing, but there are a front balcony and roof terrace that are south facing. 

MFWannabe

I’d say definitely go for end terrace if you can afford it; try to negotiate on the price; there’s no harm in trying 
I’d never buy mid terrace; think of practicalities of getting things through to garden etc; wouldn’t want to have to go through house 

apyabt

AdrianC said:

20% extra money for 12% extra space, more usable space, end of terrace, more garden, more parking, etc etc.

Seems like a no-brainer to me.

I am leaning this way too, might make a smaller offer (£360k?) and see what they say. Just need to persuade my wife! 

jackieblack

apyabt said:

£315k house


£375k house

End terrace over mid terrace every time, for me
If you can afford the bigger house now, I’d go for it, I love the quirkiness of the shape, bigger outside space, and I prefer the layout with access to the garden from the living room 

MFWannabe

jackieblack said:

apyabt said:

£315k house


£375k house

End terrace over mid terrace every time, for me
If you can afford the bigger house now, I’d go for it, I love the quirkiness of the shape, bigger outside space, and I prefer the layout with access to the garden from the living room 

jackieblack said:

apyabt said:

£315k house


£375k house

End terrace over mid terrace every time, for me
If you can afford the bigger house now, I’d go for it, I love the quirkiness of the shape, bigger outside space, and I prefer the layout with access to the garden from the living room 

Definitely this! It’s lovely sitting in living room; french doors open looking out at garden, especially in summer when you’re in and out garden 🌝
Cant imagine you’ll be sitting in the kitchen overlooking garden in mid terrace house?