Reservations about house purchase

DecoChicken

My daughter is in the process of buying a 3 bed terrace with a JBSP mortgage (with myself as the supporting party.)

The house is nice, albeit dated, looks well maintained (survey booked), is in a quiet part of a popular area, with a park at the back and is edging a nature reserve, so not uncommon to see deer, squirrels, badgers etc. The garden is a reasonable size, stepped but still very nice and has bags of potential to be a cracking space. It’s happily almost fully south facing, just a smidge west so already thinking solar panels. It’s a 15 minute walk to the hospital where my daughter works and a ten minute walk for her partner to get to work. Thinking ahead, it’s in the catchment of some good schools too.

But… there’s no parking. There is a communal parking area, and quite a bit of free side road so it does appear like there’s room for everyone. But I do worry this will be an issue later when she comes to resell.

In addition, the house is located a short walk through houses, down steps so not the most accessible, which would put a lot of people off.

Parking is not an issue for my daughter or her partner as they don’t drive.

I worry they’ll be unable to sell in future (10 or so years time).

Thoughts? Would this be an issue for you? Or would the good outweigh the bad?

elsien

If it works for them and they are planning to be there for the longer term I wouldn’t fret too much about reselling for now. Especially not in 10 years time,

She could contact the neighbours to ask for any parking issues, but in the terraces where I live it’s the norm not to have allocated parking. We do have a permit system because it was getting a bit silly for people to walk into town but that’s only £10 a year and hasn’t gone up in the 20 years I’ve been living here,

Herzlos

Your daughter is considering buying it, so why wouldn't someone else later?

To be honest it sounds ideal, they don't drive anyway and it's a 10-15 minute walk to work.

About 1/3rd of houses in the UK don't have dedicated parking, so it's not the big deal many would think it'd be.

user1977

But… there’s no parking. There is a communal parking area, and quite a bit of free side road so it does appear like there’s room for everyone

So…there is parking. There isn't its own off-road parking. But that's hardly unusual.

Keep_pedalling

This house sounds ideal for them and this is a very minor potencial downside. Being close to a hospital will attract more buyers than the lack of a dedicated parking space will put off.

twopenny

Worrying about something that might happen is a waste of energy.

It sounds like a lovely spot, a lot of people would love which will outweigh the steps.

We have a lot of sought after bungalows on a hill with 49 steps up from town. They sell like hot cakes.

sheenas

I am sure your worries about lack for dedicated parking cause issues selling issues at a later date can be resolved with some research. Check Zoopla or other online site and see what the selling history is like in the area. Are there many houses being regularly sold purchased frequently?

It is worth considering that the younger generation are less invested in cars than our generation and therefore less concerned in these types of issue when purchasing. It really depends on the quality of transport option in the area.

Tabieth

It sounds lovely. Unless there’s a reason why they may have to sell it quickly, I wouldn’t worry about the parking. It will probably put some people off, but there’s no such thing as the perfect property. There will likely be enough people willing to make that compromise so as not to matter.

gwynlas

As long as the communal parking is on a first come first served basis then they are in the same position as everybody else in the terrace who have all presumably bought.

My concern would be if there were marked individual parking bays in communal area and noting that they did not have a car someone purloining their space

Skiddaw1

From your description I'd say the advantages far outweigh any disadvantages.

DecoChicken

Thank you for all of your input. The communal parking isn’t assigned but it is a short distance from the house and out of sight as is the road, which I also worry may impact renovation work as well.

I do think there are many positives to this house. My daughter has worked and saved so hard for this (she’s 27) that I don’t want all that effort to not pay off.