Disillusioned and just buying anything

[Deleted User]

RelievedSheff said:

[Deleted User] said:

In a similar situation myself. 95% of the market is crap, anything good is priced out of reach.

The UK has a lot of bad houses. There's nothing that can be done about it because they are mostly terrace or semis, so they can't even be torn down and replaced with something decent easily. Most new builds are a bad joke, car dependent, overpriced, tiny, and often poorly built.

Most people seem to just give up on getting anything good and try to make the inside better, resulting in poorly thought out renovations.

The sad reality is that you and I will probably have to settle, or emigrate. The latter is attractive but difficult.

If you dislike current housing stock why not buy some land and build something you do like.

I would if it was affordable. When I looked at it, the cost is very high. All these articles about people doing it cheap fail to mention that it was a full time job because they saved on paying a project manager.

fackers_2

FlaatusGoat said:

Fed up. Gloucester area must have the worst selection of housing stock in the country. The market consists of two types of property sub 300k. A run down terrace in street filled with HMO's. Or a semi in a labyrinth of suburban 70's/new builts/whatevers and completely car dependant to get to any local convenience at all. Any mixture of those are up 30% from 2021.

Not looking for sympathy here but I've pretty much given up looking for anything that's within my area and I'm pretty much now just looking at the worst area which is about 30 miles away because it's the only option it seems. I'm destined to lose all my local contacts, friends and family to live in an anonymous suburban blob.

Anyone else ever been in a similar situation? Rage buying some box because it's literally the only way to not have to be bled out by paying rent. Idea would be to practically drop the place on right move the day I move in however, and just use it as a A to B house and save on doing the same but in a rent. What are the implications here, good strategy or not? Should I just keep waiting to find my OK home (not my dream home just not some complete dives in the middle of nowhere)

For months, I’ve seen so many of the worst red brick new builds coming up. Some of the plots are absolutely shameful! All with silly price tags. It’s rare to find a house with a little character and presentable. 

Wonder when the ‘spring market’ comes on because right now, its looking late. 

cjdew

It's not just your area, it's nationwide. 

In mid march 2020 we were all set with 7 viewings within budget and location booked for end march. Our criteria is 4 plus acres and 3 bedroom. Nothing else. 

Pandemic lock down. 

August 2020- only 2 things available at £100k more than feb 2020.

And this has pretty much been our experience since. With 30+ people either bidding or wanting to view. Vendors estate agents only asking for cash buyers who can move in 2 months or less. Our best was "sorry you came second" to someone who offered £75k over asking and another one "sorry you came second to a cash buyer from London who wouldn't have a survey to secure it (£800k purchase!!) on an extended 17, 18, 19th century house", (which had some issues on the west wing-my husband is in the building trade and even he was like that needs checking) .. What hope can we have? 

BUT, we have noticed a slow down now, with less viewers and slight reductions but problem is still lack of supply. Estate agents tell us that there just aren't properties coming on.

All we can do is save more money and wait. It feels like living in limbo land most months.

We deem ourselves lucky though, by remembering much much worse off individuals and don't dwell to hard. Just occasionally moan and mumble to ourselves! 

MobileSaver

fackers_2 said:

FlaatusGoat said:

Anyone else ever been in a similar situation? Rage buying some box because it's literally the only way to not have to be bled out by paying rent. Idea would be to practically drop the place on right move the day I move in however, and just use it as a A to B house and save on doing the same but in a rent. What are the implications here, good strategy or not? Should I just keep waiting to find my OK home (not my dream home just not some complete dives in the middle of nowhere)

Wonder when the ‘spring market’ comes on because right now, its looking late. 

I know the HPC crowd are obsessed with talking the market down but this is a new level of desperation... Spring doesn't even start for another week or so, so how anything Spring related could possibly be late right now is beyond me!

For the OP, the suggestion from some that you'll be in negative equity if you buy now is obviously nonsense but there are of course costs (mainly financial but also time, effort and emotional) involved in buying and selling an interim property; as others have said, patience is probably your best bet and once we start to get warmer, drier and brighter days I'd expect many more properties to appear on the market.

eidand

Most of us start by buying what we can afford and move up from  there in time. You just need to be realistic.

theoretica

First question seems to me to be whether the property you want exists?  My ideal property would be a small house in a large garden with a workshop outbuilding - in a quiet location in walking distance of my city centre job...  Somewhere between rare as hens teeth and doesn't exist! 

Does what you want a) not actually exist, b) exists but is too expensive so you need to see if you can work out a new financial plan, c) exists but rarely comes up for sale so you need to be all prepared to swoop in instantly and not miss out by being too slow or too intent on a good price.

p00hsticks

GixerKate said:

You've mentioned a number of places that you have discounted due to needing own transport, presumably you don't have a vehicle?  Maybe this is something you could rectify as then it would open up more possibilities around Glos, Stroud etc.

It opens up some avenues but closes others, as you then have to confine your search to properties with a garage, driveway or safe reliable on-road parking. 

GixerKate

p00hsticks said:

GixerKate said:

You've mentioned a number of places that you have discounted due to needing own transport, presumably you don't have a vehicle?  Maybe this is something you could rectify as then it would open up more possibilities around Glos, Stroud etc.

It opens up some avenues but closes others, as you then have to confine your search to properties with a garage, driveway or safe reliable on-road parking. 

Very true, however I grew up in the area and unless things have drastically changed beyond imagination there is no way I would be in that area without my own transport - doesn't have to be a car, could be a motorbike, scooter etc.