Anybody got anything positive to say about house over location?

lookstraightahead

[Deleted User] said:

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.

Just bear in mind house prices don't always go up. I wish I had rented in my twenties as i lost so much money buying. 

Throw in a divorce abs negative equity and it's not always the best bet.

My daughter is renting in London - she's 22 and even if she could afford to buy, I don't think it would be a savvy investment. I made that mistake.

zagubov

From long experience, if you take a house or even a job in a bad location, I'd make three years your limit and use your time to move by or before then, or you'll regret it.

rexmedorum

edgex said:

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

If you already had a house it might make sense to rent that one out and rent another although you may end p having to pay capital gains tax. If you don't have one yet and you're in a good position to buy now without over-stretching it makse sense. As long as you can raise a deposit you'll be paying less per month than rent, don't have to deal with landlords and being given notice at inconveniant times and when you come to move you have an asset to use in buying your new place.

Also if you pay rent for 5 years that's a lot of money you're banking on quite a drop in value for that to turn out to have been cheaper.

gozaimasu

[Deleted User] said:

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.

NO no no no no NO! Area is most important! My experience is that I chose a house over an area and it was 2.5 years of HELL due to scum neighbours from hell. I should have chosen a shittier house in a better area. Choose the better area 100%!

Davesnave

gozaimasu said:

[Deleted User] said:

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.

NO no no no no NO! Area is most important! My experience is that I chose a house over an area and it was 2.5 years of HELL due to scum neighbours from hell. I should have chosen a shittier house in a better area. Choose the better area 100%!

I don't think the OP is suggesting they will get 'scum neighbours,' but more that it's a featureless estate of the type well known to many.

I think it's very difficult to see the true situation when viewing property. As an example, we lived in quite a desirable area for 30 years, but rented for 9 months in an even more desirable place 10 minutes walk away and found it very different from how we'd imagined it to be.

True, there were more green spaces and trees, and we were 400m further from the main road, but we could hear the buzz of the city much more, our garden wasn't easy to make private and its aspect was poor. Next, we discovered many of the neighbours weren't communicative and didn't know each other, even those who'd been there years. It was almost a social desert, so we threw a party to try and alter that! Most families had 2+ cars and didn't walk, so never met. It was totally different from the cul-de-sac we'd come from, where street parties happened and there was a genuinely caring community. Finally, we also found out about the 'S word' when we asked a neighbour about some cracks in our property. "We don't talk about that!" I was told. Apparently, a good number of properties were moving down the hill, some more than others...

We were  very glad we didn't buy in that 'desirable location,' but looking at the Rightmove sold prices, houses there have continued to show strong price increases. In 2011 our rented house, in need of work, sold for £365k. Similar ones are going now for £700 -800k upwards. Make of that what you will!

seven-day-weekend

That programme is not called 'Location, Location, Location' for nothing.

You can change the house.  You can't change the neighbourhood.

Location every time.

Davesnave

seven-day-weekend said:

That programme is not called 'Location, Location, Location' for nothing.

You can change the house.  You can't change the neighbourhood.

Location every time.

We know that. OP stated as much in their first post and looked for alternative views, maybe because the real world is more complex than TV programmes suggest. Like it or not, compromise becomes the order of the day for most of us.

Here in Devon, it doesn't take a rocket scientist (or even an EA!) to know that the most desirable locations are places on the coast, and especially in the South, like Salcombe. However, the majority can't live there or in similar locations, so they may even end up in the centre of the county, 30miles from the sea, like us. We came here because we could get the acreage we wanted at an affordable price. People who come to our village are sometimes shocked to discover we're classed as a 'deprived' area, but that fact is not the whole picture. The schools and medical facilities are good and crime is low; we're just a long way from urban centres......and of only minor interest to tourists and second homers. Hurrah!

To be fair, not everyone who comes here stays. Some can't get used to the slow pace, the darkness of the nights and the long trek to MrT's. Others, like us, are pleasantly surprised; it's better than we imagined and we accept the inconveniences.

Life and people are complex. Just because a location is deemed the best, doesn't make it so for everyone. Knowing the location well is important, but knowing oneself is even more crucial.

TripleH

We previously lived in one of these expensive 'best place to live in the country' towns and I lived in another as a teenager.

Yes they can be converted but they are not the dream you think they might be.

There are lots of positives to living there but you never hear the negatives.

Unless you grew up and went to school in these places it can be hard to break in to the community unless you are prepared to fit in to the lifestyle.

Decide what it is you want as a complete package and work it out from there.

Location isn't just about the look of a place.

robatwork

gozaimasu said:

[Deleted User] said:

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.

NO no no no no NO! Area is most important! My experience is that I chose a house over an area and it was 2.5 years of HELL due to scum neighbours from hell. I should have chosen a shittier house in a better area. Choose the better area 100%!

This just isn't correct.

I lived for years in a town constantly voted in the worst 10 places in Britain. I had lovely neighbours, quiet, friendly and helpful.

I moved from there to a town in the best 10 places to live in Britain. 2 neighbours were noisy and unpleasant. 

Just luck of the draw.

nicknameless

Davesnave said:

gozaimasu said:

[Deleted User] said:

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.

NO no no no no NO! Area is most important! My experience is that I chose a house over an area and it was 2.5 years of HELL due to scum neighbours from hell. I should have chosen a shittier house in a better area. Choose the better area 100%!

I don't think the OP is suggesting they will get 'scum neighbours,' but more that it's a featureless estate of the type well known to many.

As you say it's not a choice between run down area and not run down area.  It is exactly that - town of featureless estates with reasonably nice houses for a cheaper price vs something a bit more nice small town or village near nice small town.

Nice 4 bed semi in featureless estate approx. £260-270K.  Equivalent £350k in alternative area.  Detached £300k plus vs £380-£400k plus.

Also don't want to overstretch and mess up the next (and probably final) move.

Crystal ball anyone.

Also finding out we are not sure we know ourselves and what we will like that much.  We've spent nearly 17 years in an urban 2 bed flat perfectly happily until the last 12 months or so - mmmmm.