Anybody got anything positive to say about house over location?

lookstraightahead

aoleks said:

edgex said:

If it's only for a few/5 years, why not look at renting instead?

Because it's much cheaper to buy and you will make a big, fat "profit" when you end up selling?

But no, location is not always everything. Very important, but not important enough to warrant buying a shoebox in a posh area. I will always choose a nice house with a very large front and rear garden, room for extension, parking spaces for me and any visitors and large rooms.

A big fat profit you think? Bit risky after 5 years.

op, sorry I think location is everything. Especially if you do want to make a profit. That's always been my experience anyway. 

nicknameless

lookstraightahead said:

aoleks said:

edgex said:

If it's only for a few/5 years, why not look at renting instead?

Because it's much cheaper to buy and you will make a big, fat "profit" when you end up selling?

But no, location is not always everything. Very important, but not important enough to warrant buying a shoebox in a posh area. I will always choose a nice house with a very large front and rear garden, room for extension, parking spaces for me and any visitors and large rooms.

A big fat profit you think? Bit risky after 5 years.

op, sorry I think location is everything. Especially if you do want to make a profit. That's always been my experience anyway. 

I don't see my home as an investment - our investments lie elsewhere.  I expect us to lose money in the next 5 years on any purchase we make at the moment and am fine with that as long as we are not talking 30-40% plus.

lookstraightahead

nicknameless said:

lookstraightahead said:

aoleks said:

edgex said:

If it's only for a few/5 years, why not look at renting instead?

Because it's much cheaper to buy and you will make a big, fat "profit" when you end up selling?

But no, location is not always everything. Very important, but not important enough to warrant buying a shoebox in a posh area. I will always choose a nice house with a very large front and rear garden, room for extension, parking spaces for me and any visitors and large rooms.

A big fat profit you think? Bit risky after 5 years.

op, sorry I think location is everything. Especially if you do want to make a profit. That's always been my experience anyway. 

I don't see my home as an investment - our investments lie elsewhere.  I expect us to lose money in the next 5 years on any purchase we make at the moment and am fine with that as long as we are not talking 30-40% plus.

Fair enough I agree 

theoretica

nicknameless said:

At the moment we are in big city and want to go south of the city.

We have identified a small town / area, which I think I / we might have over romanticised compared to where we live now.

Why south and why only one town?  What about the rest of the doughnut around the city?

nicknameless said:

We like evening walks around town (weird I know ) and like the small town idea (move from city), and this would be a compromise in those respects.  The house however, would give us the space and options (storage for loads of bikes and exercise equipment) that otherwise we just won't have.

So what are the consequences of the downsides?  You would need to go for a bike ride in the evening or drive somewhere to walk?  Would you?  What are the roads and paths like for walking/driving?

If you got a smaller house in a location you preferred would there be a gym nearby so you didn't need as much exercise equipment? Would you actually use it much? Are there garages to rent and could you afford one for storage or squeeze a small bike store in?

MrsBrush

Having spent 10 of the last 18 years being desperate to move closer to my hometown, from a house that we have spent several years getting it exactly how we want it, I would say location every time. There is nothing wrong with where we are now, but it is now a dull town with very little there.

Overall it depends what you want.

We are finally close to moving back, and when we were looking for the new property the focus was on the house itself rather than the specific town or neighbourhood. We wanted space, in the house and in the garden, so we were prepared to compromise a bit to get this.  We are going to be 2 miles from the coast rather than a mile, a bit further from the train station than was ideal (but there is a good bus service) and the "wrong" side of a trunk road - but the house will be stunning when done, it is a lovely quiet turning and it is still close enough to give us everything we don't have where we are now. Best of all it is 10 minute drive to my parents, my brother and my best friends houses, rather than almost an hour! 

nicknameless

theoretica said:

nicknameless said:

At the moment we are in big city and want to go south of the city.

We have identified a small town / area, which I think I / we might have over romanticised compared to where we live now.

Why south and why only one town?  What about the rest of the doughnut around the city?

nicknameless said:

We like evening walks around town (weird I know ) and like the small town idea (move from city), and this would be a compromise in those respects.  The house however, would give us the space and options (storage for loads of bikes and exercise equipment) that otherwise we just won't have.

So what are the consequences of the downsides?  You would need to go for a bike ride in the evening or drive somewhere to walk?  Would you?  What are the roads and paths like for walking/driving?

If you got a smaller house in a location you preferred would there be a gym nearby so you didn't need as much exercise equipment? Would you actually use it much? Are there garages to rent and could you afford one for storage or squeeze a small bike store in?

Re the first.  It's to do with commutes.  We are looking for somewhere equidistant for our drive to work (2-3 days a week) as we work in very different locations.

We should go for an evening walk round the area perhaps.  We might drive elsewhere to do it but would prefer from the door.

Re the bikes etc. yes have been investigating outside storage but we are talking £30k plus worth of bikes (I know lol) so reluctant to keep in a store outside.  We don't do the gym anymore - hence the home stuff (weights etc.).

Thanks for the Qs / suggestions - without a test drive it's difficult to know.  Perhaps renting is one way.

onylon

When I initially started property hunting I wanted a 2 bed city center place but I actually bought a 4 bed detached house in a sleepy little commuter town. I love my house and I like the area now I know it better. I wanted a city center place because it felt familiar but the change has been good for me.

Keep an open mind but think carefully about how the area will impact your day to day.

[Deleted User]

edgex said:

If it's only for a few/5 years, why not look at renting instead?

Why not just set your money on fire, it's cheaper?

Seriously if you could own property why would you rent? Property is an appreciating asset and the longer you leave it to get on the latter the less affordable it will be. Once you are on you are getting income simply from owning it as its value increases, and in 5 years will be able to sell it for a profit and use that to buy another home.

Renting for 5 years at £1k/month is just setting fire to £60,000 that you could have paid off a mortgage on your massively appreciating asset, that will one day form a major part of your pension.

[Deleted User]

nicknameless said:

I know this has been done to death.

We are looking in a specific area and are struggling to get the house we want in that area (lack of supply).

Just up the road is another area - better houses, cheaper, commute just as good - but basically a housing estate with nothing else around.

We are not moving to our forever home.  If we bought in the alternate location would we likely be regretting it for the next 5 years (we plan to relocate elsewhere in the country at approximately that point)?

We like evening walks around town (weird I know ) and like the small town idea (move from city), and this would be a compromise in those respects.  The house however, would give us the space and options (storage for loads of bikes and exercise equipment) that otherwise we just won't have.

Anyone chosen house over area and thought they made the right choice?

House is most important. If it's a bad area you can make it a fortress, and drive somewhere nicer to enjoy your walks and bike rides.

Anyanka1

Disagree with the last post for the most part but, it is true, you can at least try to make a silk purse out of a sow's ear (a better version of a house in a less desirable area) however, you cannot make a less good area into a better one.  Only time and the market will do that (look at the London market; it does happen sometimes)