Bought house and regretting it

lookstraightahead

I spent years after a divorce not even being able to get a mortgage. I've had debt in the past up to my eyeballs. 

All is good now, but I would have been quite happy with a tin shack at times.

try to see the positives, and make it your own. You can always sell if you absolutely need to.

it's just a house. We place so much emphasis on the wrong things.

nicknameless

Crashy_Time said:

aoleks said:

Crashy_Time said:

Sunsaru said:

For 20 plus years I wanted my own house. The day i got my keys I walked into the house and thought

"What the frig have I done??"

Took me about 3 months for it to sink in. I'm now 8 months in and have sunk 5 figures into the property with another 5 planned. No regrets.

Do you think there is a possibility that you bought at the wrong time?

Do you think there’s a poasibility you sold at the wrong time? :-)

When do you think I sold?

Who gives a ****.  Stop ruining the forum.

Slinky

NameUnavailable said:

andy444 said:

How anybody bought a house and very quickly regretted purchasing it? I recently bought a new house and frankly I'm having real doubts about whether I want to continue here.

There is a lot more work to renovate here than I first realised. I knew there'll need to be some updating decor required but it's now crystallised to me that I will have to spend thousands of pounds to get this place to how I want it.

I was in a fortunate position where I had two bids accepted on the same day on two separate houses and I opted for this house and frankly I wish I had gone for the other. It was a newer build that had been done up to a fair standard.

It is so cold in this house and I'm not particularly looking forward to rarely being warm here this winter. I'm thinking maybe I could rent this place out and ask my former housemate if I could move back in with him and rent whilst I consider my next option. Just feeling a bit glum at the moment.

Thank you for starting this thread! I just completed on my purchase and had the same glum feelings.

I'm not ready to move in just yet, the new place is 50 miles from where I am now and I'd decided to move in around new year, but thought I'd try and do some work to the place while it was empty. I 'camped' there for 4 days and found a number of issues I'd not spotted when viewing.

It's in an area I really like, and to afford something there I made a number of major compromises on the property I wanted. This is about as opposite to what I wanted as you can get so again that is making me wonder !!!!!! have I just done!

Although I had expected to spend a bit of money on getting some electrics done and maybe a bit of decor, I'm now spending 4X that having the place fully redecorated (apart from kitchen and bathroom). I figured I'd swallow the cost for the convenience and hopefully I'll feel much more positive when I move in. I had plans to tackle the dated kitchen/bathroom later in any case.

A house purchase/move is such a huge event in our lives I think it's quite normal to have some doubts but ultimately if it turns out to have been a wrong move then it can be fixed in time by moving again, costly though that is.

It sounds like you can add value to the property, as I'm doing, so if nothing else see it as a chance to do that and sell for more, if it comes to it.

Hopefully we'll both settle in, especially as Spring comes, and will wonder why we ever had doubts at all!

Please tell me you're getting the electrics done before the decorating otherwise you'll need to decorate again if there's any rewiring needing doing.

Crashy_Time

lisyloo said:

Crashy_Time said:

aoleks said:

Crashy_Time said:

Sunsaru said:

For 20 plus years I wanted my own house. The day i got my keys I walked into the house and thought

"What the frig have I done??"

Took me about 3 months for it to sink in. I'm now 8 months in and have sunk 5 figures into the property with another 5 planned. No regrets.

Do you think there is a possibility that you bought at the wrong time?

Do you think there’s a poasibility you sold at the wrong time? :-)

When do you think I sold?

How much has your rent cost you since?

Not nearly as much as you think, and as underlined by all the headlines about massive bills for cladding and leasehold charges etc. not to mention the threat of rates jumping during the biggest property bubble in history, taking on mortgage debt just so you don`t have to pay rent isn`t always good financial advice.

Crashy_Time

chucknorris said:

Crashy_Time said:

aoleks said:

Crashy_Time said:

Sunsaru said:

For 20 plus years I wanted my own house. The day i got my keys I walked into the house and thought

"What the frig have I done??"

Took me about 3 months for it to sink in. I'm now 8 months in and have sunk 5 figures into the property with another 5 planned. No regrets.

Do you think there is a possibility that you bought at the wrong time?

Do you think there’s a poasibility you sold at the wrong time? :-)

When do you think I sold?

I did have a good idea based on previous conversations with you, but I have forgotten now (it was a long time ago), but I think it was in the late 90's and if so, it was definitely 'the wrong time' (to leave the housing market). At the time (when you referred to it) I had the opinion that you were relieved to have got out unscathed after enduring years of negative equity, I realise that can be very uncomfortable, but it only matters when you sell. If it was the late 90's you did miss out on significant HPI, but of course hindsight is an exact science. And of course people sell for a variety of reasons, after all it was your home rather than merely an investment.

LOL, no you definitely have me confused with someone else, good to see you back though, I watched one of your films the other night, absolute classic.

PadreM

No quick decisions: persevere for a bit and spend conservatively until decision made, then you can consider either selling or letting.  I worst you won't have lots much money, and maybe none at all if you get a good return on sale or let.

Hope you acclimatise and feel happier soon!

chucknorris

Crashy_Time said:

chucknorris said:

Crashy_Time said:

aoleks said:

Crashy_Time said:

Sunsaru said:

For 20 plus years I wanted my own house. The day i got my keys I walked into the house and thought

"What the frig have I done??"

Took me about 3 months for it to sink in. I'm now 8 months in and have sunk 5 figures into the property with another 5 planned. No regrets.

Do you think there is a possibility that you bought at the wrong time?

Do you think there’s a poasibility you sold at the wrong time? :-)

When do you think I sold?

I did have a good idea based on previous conversations with you, but I have forgotten now (it was a long time ago), but I think it was in the late 90's and if so, it was definitely 'the wrong time' (to leave the housing market). At the time (when you referred to it) I had the opinion that you were relieved to have got out unscathed after enduring years of negative equity, I realise that can be very uncomfortable, but it only matters when you sell. If it was the late 90's you did miss out on significant HPI, but of course hindsight is an exact science. And of course people sell for a variety of reasons, after all it was your home rather than merely an investment.

LOL, no you definitely have me confused with someone else, good to see you back though, I watched one of your films the other night, absolute classic.

I've sold most of my properties now Crashy, and I have just about got my portfolio where I want it for my retirement (trying to be diverse as possible), it is very different to not so many years ago, I included my share of our home, because although it isn't exactly an investment, is is after all is is part of my wealth:

Cash	2%
Investment property	8%
Own home	12%
Fixed pension	15%
Bonds (Individual corporate & funds)	15%
REIT's	19%
Equities (excl. REITs)	29%

Crashy_Time

chucknorris said:

Crashy_Time said:

chucknorris said:

Crashy_Time said:

aoleks said:

Crashy_Time said:

Sunsaru said:

For 20 plus years I wanted my own house. The day i got my keys I walked into the house and thought

"What the frig have I done??"

Took me about 3 months for it to sink in. I'm now 8 months in and have sunk 5 figures into the property with another 5 planned. No regrets.

Do you think there is a possibility that you bought at the wrong time?

Do you think there’s a poasibility you sold at the wrong time? :-)

When do you think I sold?

I did have a good idea based on previous conversations with you, but I have forgotten now (it was a long time ago), but I think it was in the late 90's and if so, it was definitely 'the wrong time' (to leave the housing market). At the time (when you referred to it) I had the opinion that you were relieved to have got out unscathed after enduring years of negative equity, I realise that can be very uncomfortable, but it only matters when you sell. If it was the late 90's you did miss out on significant HPI, but of course hindsight is an exact science. And of course people sell for a variety of reasons, after all it was your home rather than merely an investment.

LOL, no you definitely have me confused with someone else, good to see you back though, I watched one of your films the other night, absolute classic.

I've sold most of my properties now Crashy, and I have just about got my portfolio where I want it for my retirement (trying to be diverse as possible), it is very different to not so many years ago, I included my share of our home, because although it isn't exactly an investment, is is after all is is part of my wealth:

Cash	2%
Investment property	8%
Own home	12%
Fixed pension	15%
Bonds (Individual corporate & funds)	15%
REIT's	19%
Equities (excl. REITs)	29%

Why are you posting this information?

nicknameless

Crashy_Time said:

chucknorris said:

Crashy_Time said:

chucknorris said:

Crashy_Time said:

aoleks said:

Crashy_Time said:

Sunsaru said:

For 20 plus years I wanted my own house. The day i got my keys I walked into the house and thought

"What the frig have I done??"

Took me about 3 months for it to sink in. I'm now 8 months in and have sunk 5 figures into the property with another 5 planned. No regrets.

Do you think there is a possibility that you bought at the wrong time?

Do you think there’s a poasibility you sold at the wrong time? :-)

When do you think I sold?

I did have a good idea based on previous conversations with you, but I have forgotten now (it was a long time ago), but I think it was in the late 90's and if so, it was definitely 'the wrong time' (to leave the housing market). At the time (when you referred to it) I had the opinion that you were relieved to have got out unscathed after enduring years of negative equity, I realise that can be very uncomfortable, but it only matters when you sell. If it was the late 90's you did miss out on significant HPI, but of course hindsight is an exact science. And of course people sell for a variety of reasons, after all it was your home rather than merely an investment.

LOL, no you definitely have me confused with someone else, good to see you back though, I watched one of your films the other night, absolute classic.

I've sold most of my properties now Crashy, and I have just about got my portfolio where I want it for my retirement (trying to be diverse as possible), it is very different to not so many years ago, I included my share of our home, because although it isn't exactly an investment, is is after all is is part of my wealth:

Cash	2%
Investment property	8%
Own home	12%
Fixed pension	15%
Bonds (Individual corporate & funds)	15%
REIT's	19%
Equities (excl. REITs)	29%

Why are you posting this information?

The irony lol!

RelievedSheff

We had doubts about our first house when we moved into that one, more about the area than the house. But we lived there for 13.5 years in the end.

We have been in our current house for 2.5 years which we bought as a new build and we loved it from the moment we stepped through the front door the first time. It just suits us and how we live perfectly. I don't think we would change a thing about it.

If we hadn't made the move when we did 2.5 years ago then we now couldn't afford to live where we do now. Prices here have sky rocketed in comparison to where we used to live so the deal just wouldn't stack up anymore.