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talk me out of this...

Emily_Joy
Emily_Joy Posts: 1,158
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edited 29 November 2023 at 9:26PM in House buying, renting & selling
 The OH and I own a house very close to the OH's job. To me, it is either 2 hours each way commute by car (we don't currently own one) or 3 hours each way by public transport, door-to-door. I am fed up sleeping in other peoples houses and paying someone else mortgage. Financially, we can afford a second home. There is a property on the market that I spot about a year ago. It was taken off back in May (don't recall the details) and now it is back to the market again. Here are the main drawbacks that I can see. We would need a mortgage, but it will be less than the cost of renting.
1. It is a freehold flat, occupying the first floor of a grade 2 listed detached house. I am guessing the freeholder is actually the freeholder for the entire building, and the ground flat is leasehold. But this is easily checked. EPC C. Based on zoopla, someone bought the house about 20 years ago and then split it into two flats.
2. There is no parking and there is no garden, the vehicle access is rather limited (pedestrian area in the town centre, on the corner of a road). To us this is not a problem - we really don't need a second garden to look after and since we don't own a car, we can do without parking. The train station is 15 minutes walk away. It would take a little over an hour to get to London.
My main question is, what I should be on lookout for, if we go for it? I am guessing there is likely an issue with the property itself...

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Comments

  • I don't understand your living arrangements. Do you live together or are you renting etc?
  • MikeJXE
    MikeJXE Posts: 3,024
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    I agree with the above

    Change your job

    Finacially it's a no brainer, cost of second home and all the extra cost that goes with it.

    Against perhaps a reduction in salary and less travel 

    Do the maths 
  • Emily_Joy said:
     The OH and I own a house very close to the OH's job. To me, it is either 2 hours each way commute by car (we don't currently own one) or 3 hours each way by public transport, door-to-door. I am fed up sleeping in other peoples houses and paying someone else mortgage. Financially, we can afford a second home. There is a property on the market that I spot about a year ago. It was taken off back in May (don't recall the details) and now it is back to the market again. Here are the main drawbacks that I can see. We would need a mortgage, but it will be less than the cost of renting.
    1. It is a freehold flat, occupying the first floor of a grade 2 listed detached house. I am guessing the freeholder is actually the freeholder for the entire building, and the ground flat is leasehold. But this is easily checked. EPC C. Based on zoopla, someone bought the house about 20 years ago and then split it into two flats.
    2. There is no parking and there is no garden, the vehicle access is rather limited (pedestrian area in the town centre, on the corner of a road). To us this is not a problem - we really don't need a second garden to look after and since we don't own a car, we can do without parking. The train station is 15 minutes walk away. It would take a little over an hour to get to London.
    My main question is, what I should be on lookout for, if we go for it? I am guessing there is likely an issue with the property itself...

    The grade 2 listing would give me pause and I’d want to find out more about the freehold arrangement, is it a share of the freehold or the whole freehold. 

    Lack of dedicated parking, particularly for a town centre, wouldn’t put me off. The property being in a pedestrianised area might though. I’ve lived in flats with on-street parking and delivery drivers and tradespeople can be a bit shirty about having to park a few doors down so I imagine that some won’t be thrilled at having to find parking near a pedestrianised area. 
  • I don't understand your living arrangements. Do you live together or are you renting etc?

    Me neither. Op can you clarify please?
  • Emily_Joy
    Emily_Joy Posts: 1,158
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    Regarding living arrangements - we do what the others do in similar situations -  stay closer to the job during the week and go back home every weekend. Sometimes I am able to work from home. It is not  possible for me to change the job in the next couple of years. 
  • Martico
    Martico Posts: 907
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    ProDave said:
    If one of you works 3 hours away from the other, it sounds to me like it is time to change your job, not your living arrangements.
    I'd say different - is it feasible and attractive to find a home between your two workplaces?
  • hazyjo
    hazyjo Posts: 15,462
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    Monday to Friday lodger arrangement might be better.

    Totally agree with the other comments though. Really can't see how running 2 properties could possibly be your best option.

    If you can't change jobs, can your other half?
    2023 wins: *must start comping again!*
  • Emily_Joy
    Emily_Joy Posts: 1,158
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    Martico said:
    ProDave said:
    If one of you works 3 hours away from the other, it sounds to me like it is time to change your job, not your living arrangements.
    I'd say different - is it feasible and attractive to find a home between your two workplaces?
    We tried renting one last year. Ended up spending 6 hours on trains daily between us when the trains run on time, more when there were delays causing missed connections. OH had to leave at 6am to get back at about 8pm and then work from home to catch up on things till 11pm. Didn't work really. 
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