Buy 'better value' but more expensive, or cheap n cheerful?

Jellynailer

If you can pay cash why not make an offer of 40K less for the better house.  If they accept then its a no brainer,

Albermarle

Leaseholder49 said:

Thanks - I'm not sure if I could find out the anything about the type/'legitimacy' of the conversion before having an offer accepted. You are right but nothing to stop you asking the EA to be 100% clear now that it has full building control sign off, and therefore can be used/described as a bedroom. The agent describes it as a 3 bedroom house and the loft room as bedroom 3 (it also has a toilet up there), but also in the general blurb refers to 'loft room'. It's quite a major construction, carpeted, fitted wardrobes, big span of double glazing on each side - not just boarding, painting the walls and putting in a skylight. Presumably then it has a proper staircase, with a door at the top or the bottom ( needed for fire regs) ?

I was thinking of potential issues because of poor joining to the original roof, new flat roof deteriorating etc, just general building issues.

They both have back gardens - the semi-detached is bigger and has a front garden as well. Terrace has a small walled area at the front which is big enough for bins and a small shed-type thing.

If it has been done properly you should not expect any major maintenance issues. 

gwynlas

It sounds as thoughh you would be able to add value to the semi if you look at best ways to invest  in work for maximum return.

Also possibility to take on a lodger which is always a god thing.

You could ignore the loft leaving it for future buyer to invest in.

Semi would attract larger pool of buyers in the future.

Leaseholder49

Jellynailer said:

If you can pay cash why not make an offer of 40K less for the better house.  If they accept then its a no brainer,

The person who showed me round (not an agent but someone the agent uses to accompany viewings and apparently also knows the owner) told me they'd already declined an offer of 10k less and they were holding out for the asking price as they are not in a rush.

Bigphil1474

OP, the loft conversion needs to have been signed off by Building Control for structural safety (since the early 90's I think). You can access building control records online - varies by council - but that should give you some idea. If the loft was converted without BC sign off, I'd walk away myself unless it was more than 30+ years ago.

Having lived in a mid terrace for over 25 years, we sold and moved into a semi. Would have done it sooner had we had the finances in place. Wouldn't live in a terraced house ever again. You basically get 2 lots of neighbours who may or may not be nice (or loud). I would definitely go for the semi, and offer £7.5k under asking. If you were keener, maybe offer asking but you don't sound that keen. Or keep on looking?

youth_leader

I was also going to suggest looking for the planning permission for the loft on-line, you might be lucky and be able to see the plans/sign off.  

Good luck.

Ditzy_Mitzy

OP: you seem to be doing your best to argue against those proposing the semi (second house).  Are you doing that because you are, in fact, erring towards the first house?  

From what you've said, I think it comes down to the matter of the lodger - if you don't actually want one, then plump for the first house.  Everything else would appear to be surmountable.

Leaseholder49

Ditzy_Mitzy said:

OP: you seem to be doing your best to argue against those proposing the semi (second house).  

Not intentionally. I've been trying to give factual answers. I have said positive things about the semi (slight parking advantage; I'd prefer it in the long term) and negative about the terrace (no side/back access).

It's not a question of 'do you want to live in a terrace or a semi?' - the clear answer to that for me is the semi. It's a question of what makes the most sense as a purchase for a relatively short term alternative to renting. 

I didn't make that clear in my OP.

Albermarle

Leaseholder49 said:

Ditzy_Mitzy said:

OP: you seem to be doing your best to argue against those proposing the semi (second house).  

Not intentionally. I've been trying to give factual answers. I have said positive things about the semi (slight parking advantage; I'd prefer it in the long term) and negative about the terrace (no side/back access).

It's not a question of 'do you want to live in a terrace or a semi?' - the clear answer to that for me is the semi. It's a question of what makes the most sense as a purchase for a relatively short term alternative to renting. 

I didn't make that clear in my OP.

To make a proper comparison you need to do clarify with the EA if the loft conversion has building control sign off to be a habitable space. Otherwise you do not know if it is a two or three bedroom property.