Should we continue the purchase? - need some objective opinion

Doozergirl

gemma.zhang said:

Doozergirl said:

You've got 2 years.  You can afford to buy without selling, so even if house prices go up, you can afford to sell up and buy, the same way as others do.  

There will be another house within 2 years, especially if you're telling us it might not even be big enough when you've finished? 

I'm not seeing the real benefit.  Being a landlord is no fun either.  

It is the 2 years hassle of dealing with neighbour, tenants now opposite 21 flats work now worries me… using my brain, is not worth  the income with the time spending and worries…

it was a good idea before all this unfolded!

If you can have a house without 21 flats opposite, I'd choose that. 

I'm mainly about house over location, but I prefer not to be overlooked.  Even in London I never really lived in an overlooked property.  I know that's not always possible and I've never really
given it too much thought, but it must be an instinctive thing for me.  

gemma.zhang

FreeBear said:

If the neighbour is doing a large extension, what are their plans for it ?

If is going to end up being an HMO, would you want to live next door to it ?

They are doing side back extension and loft conversion.

One side of the neighbour is HMO let to students, the side doing extension lives a family. 

gemma.zhang

Mac_70_ said:

GemmaZE said:

Honestly, we have been losing sleep and kept questioning our decision since the offer's even accepted. me and my husband seem to disagree on some days, and agree on other days whether or not to continue with the purchase. 
 

It's a hard decision.. Pls talk some sense out of me. What would you do if you were us? 

If me and my wife felt like this, there is no way i would be think about it.

Oh you also put the top end of your budget in the pluses, it would be a negative for me, especially when the property is needing work done.

Some times we just have too rely on our gut feelings. Good luck.

Thanks !
we are in the period of one day very positive to overcome what’s coming next, the other day thinks we are insane ! 

Somehow the surprise keeps coming from this house ! 

AdrianC

gemma.zhang said:

One side of the neighbour is HMO let to students

R-U-N-!-!

gemma.zhang

Doozergirl said:

gemma.zhang said:

Doozergirl said:

You've got 2 years.  You can afford to buy without selling, so even if house prices go up, you can afford to sell up and buy, the same way as others do.  

There will be another house within 2 years, especially if you're telling us it might not even be big enough when you've finished? 

I'm not seeing the real benefit.  Being a landlord is no fun either.  

It is the 2 years hassle of dealing with neighbour, tenants now opposite 21 flats work now worries me… using my brain, is not worth  the income with the time spending and worries…

it was a good idea before all this unfolded!

If you can have a house without 21 flats opposite, I'd choose that. 

I'm mainly about house over location, but I prefer not to be overlooked.  Even in London I never really lived in an overlooked property.  I know that's not always possible and I've never really
given it too much thought, but it must be an instinctive thing for me.  

https://www.standard.co.uk/homesandproperty/property-news/home-extensions-new-rules-permitted-development-government-a139556.html

This is the new rule. We were just ok with all other things, this feels like last straw to tip the decision over the other side ! 

FreeBear

gemma.zhang said:

FreeBear said:

If the neighbour is doing a large extension, what are their plans for it ?

If is going to end up being an HMO, would you want to live next door to it ?

They are doing side back extension and loft conversion.

One side of the neighbour is HMO let to students, the side doing extension lives a family. 

It may be a family living there today.. But tomorrow (or in two/three years), it could become another HMO.

gemma.zhang

Sorry I might be naive..
Why there r concerns on sharers / HMO?

our current next door are sharers, they are not too bad.. occasional music etc doing what the young 20s are doing anyway. 

FreeBear

Late night parties, excessive noise, etc - Many HMOs are filled with quiet & considerate occupants, but it only takes one to destroy the peace. My biggest concern would be the effect on parking. More residents generally means more cars, and this is a problem in crowded neighbourhoods.

Doozergirl

gemma.zhang said:

Doozergirl said:

gemma.zhang said:

Doozergirl said:

You've got 2 years.  You can afford to buy without selling, so even if house prices go up, you can afford to sell up and buy, the same way as others do.  

There will be another house within 2 years, especially if you're telling us it might not even be big enough when you've finished? 

I'm not seeing the real benefit.  Being a landlord is no fun either.  

It is the 2 years hassle of dealing with neighbour, tenants now opposite 21 flats work now worries me… using my brain, is not worth  the income with the time spending and worries…

it was a good idea before all this unfolded!

If you can have a house without 21 flats opposite, I'd choose that. 

I'm mainly about house over location, but I prefer not to be overlooked.  Even in London I never really lived in an overlooked property.  I know that's not always possible and I've never really
given it too much thought, but it must be an instinctive thing for me.  

https://www.standard.co.uk/homesandproperty/property-news/home-extensions-new-rules-permitted-development-government-a139556.html

This is the new rule. We were just ok with all other things, this feels like last straw to tip the decision over the other side ! 

I can't believe it got passed as a piece of legislation.  The damage it will do to townscapes will  be immense.  Be prepared for some really ugly extensions coming to any neighbourhood shortly! 
 

gemma.zhang

Doozergirl said:

gemma.zhang said:

Doozergirl said:

gemma.zhang said:

Doozergirl said:

You've got 2 years.  You can afford to buy without selling, so even if house prices go up, you can afford to sell up and buy, the same way as others do.  

There will be another house within 2 years, especially if you're telling us it might not even be big enough when you've finished? 

I'm not seeing the real benefit.  Being a landlord is no fun either.  

It is the 2 years hassle of dealing with neighbour, tenants now opposite 21 flats work now worries me… using my brain, is not worth  the income with the time spending and worries…

it was a good idea before all this unfolded!

If you can have a house without 21 flats opposite, I'd choose that. 

I'm mainly about house over location, but I prefer not to be overlooked.  Even in London I never really lived in an overlooked property.  I know that's not always possible and I've never really
given it too much thought, but it must be an instinctive thing for me.  

https://www.standard.co.uk/homesandproperty/property-news/home-extensions-new-rules-permitted-development-government-a139556.html

This is the new rule. We were just ok with all other things, this feels like last straw to tip the decision over the other side ! 

I can't believe it got passed as a piece of legislation.  The damage it will do to townscapes will  be immense.  Be prepared for some really ugly extensions coming to any neighbourhood shortly! 
 

I remembered it on the news last year during lockdown, it’s first time ‘seeing’ it quoted in the planning notice ~~.

the block of building sit on opposite road which is conveniently not in the conservation area!. So likely hood of going ahead is high.