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  • FIRST POST
    • PineapplLove
    • By PineapplLove 16th May 18, 3:27 PM
    • 5Posts
    • 0Thanks
    PineapplLove
    Conflicted about buying a house
    • #1
    • 16th May 18, 3:27 PM
    Conflicted about buying a house 16th May 18 at 3:27 PM
    Hi There,

    After a gruelling few years of saving up me and my brother have saved 80k

    We currently live in Bristol but feel frankly priced out of bristol. I've found some wonderful homes in Wales (about an hour drive) away where you can buy a 3 bed house for 80k.

    So my reasoning is we could buy there and be mortgage free.

    This seemed like a great idea to us both but I spoke to my dad who didn't seem to think it was a great idea and preferred us buying in bristol as houses will appreciate in bristol more.

    I'm not convinced. As Bristol is shockingly expensive these days it means we'd only be able to buy in terrible areas or areas where it would take me an hour on the bus to get to work.

    I'm just looking for some advice really and thoughts on it.
Page 1
    • tasha-debt
    • By tasha-debt 16th May 18, 3:42 PM
    • 968 Posts
    • 2,013 Thanks
    tasha-debt
    • #2
    • 16th May 18, 3:42 PM
    • #2
    • 16th May 18, 3:42 PM
    Are you looking to buy a property outright only with no mortgage?

    Thanks

    Im back and more determined than ever!!!!!
    • PineapplLove
    • By PineapplLove 16th May 18, 4:11 PM
    • 5 Posts
    • 0 Thanks
    PineapplLove
    • #3
    • 16th May 18, 4:11 PM
    • #3
    • 16th May 18, 4:11 PM
    Yes. Buy a property outright without a mortgage - in Wales.

    Whereas my dad wants us to buy a property in Bristol where we can only afford 230k really meaning we would have to take a mortgage (with a deposit of 80k).
    • PasturesNew
    • By PasturesNew 16th May 18, 4:17 PM
    • 63,235 Posts
    • 370,332 Thanks
    PasturesNew
    • #4
    • 16th May 18, 4:17 PM
    • #4
    • 16th May 18, 4:17 PM
    I'd imagine that 80k houses in Wales aren't the best either.... and you've all the cost of all that travelling to do on top .... and the toll bridge cost ... and tourist mayhem in the summer (Friday night home from work might take you 3 hours) ....

    Wales is "always cheap". I'd suggest you buy in Bristol .... if it's not for you in 5-10 years' time you can still buy in Wales - and probably a better place for cash than you can buy for cash today.

    You're young .... you'd be surprised the difference "stretching yourself now" can make to your overall life when you look back in 20 years' time.

    If you buy in Wales now, then in 5-8 years decide to move to Bristol you'll suddenly realise how much MORE expensive it is by then and wish you'd bought there in 2018.
    • Oakdene
    • By Oakdene 16th May 18, 4:22 PM
    • 2,348 Posts
    • 8,538 Thanks
    Oakdene
    • #5
    • 16th May 18, 4:22 PM
    • #5
    • 16th May 18, 4:22 PM
    I'd imagine that 80k houses in Wales aren't the best either.... and you've all the cost of all that travelling to do on top .... and the toll bridge cost ... and tourist mayhem in the summer (Friday night home from work might take you 3 hours) ....

    Wales is "always cheap". I'd suggest you buy in Bristol .... if it's not for you in 5-10 years' time you can still buy in Wales - and probably a better place for cash than you can buy for cash today.

    You're young .... you'd be surprised the difference "stretching yourself now" can make to your overall life when you look back in 20 years' time.

    If you buy in Wales now, then in 5-8 years decide to move to Bristol you'll suddenly realise how much MORE expensive it is by then and wish you'd bought there in 2018.
    Originally posted by PasturesNew
    You could be wrong... some very nice houses for that price around here.
    Dwy galon, un dyhead,
    Dwy dafod ond un iaith,
    Dwy raff yn cydion ddolen,
    Dau enaid ond un taith.


    • PasturesNew
    • By PasturesNew 16th May 18, 4:29 PM
    • 63,235 Posts
    • 370,332 Thanks
    PasturesNew
    • #6
    • 16th May 18, 4:29 PM
    • #6
    • 16th May 18, 4:29 PM
    You could be wrong... some very nice houses for that price around here.
    Originally posted by Oakdene
    Some, if you're local ... but how would the OP know which are good choices and which would be a disaster? Especially from Bristol... with the limited options for location that'd entail when thinking of transport etc for work too.

    In the past, say, I've heard of surveyors refusing to go to some areas of The Valleys to even appraise and value a house as they're so ... rough and insular.

    Wales -> Bristol is a long old commute for two separate people, going to/from work at differing times, on what are presumably "not high paying wages" (based on the information we have that they'd be looking at a mortgage of about 150k between two people).
    Last edited by PasturesNew; 16-05-2018 at 4:31 PM.
    • Oakdene
    • By Oakdene 16th May 18, 4:31 PM
    • 2,348 Posts
    • 8,538 Thanks
    Oakdene
    • #7
    • 16th May 18, 4:31 PM
    • #7
    • 16th May 18, 4:31 PM
    Some, if you're local ... but how would the OP know which are good choices are which would be a disaster?

    In the past, say, I've heard of surveyors refusing to go to some areas of The Valleys to even appraise and value a house as they're so ... rough and insular.
    Originally posted by PasturesNew
    Well why make such a sweeping statement then?

    And, in reference to the point in bold, I am sure the same could be said of parts of England & Scotland.
    Dwy galon, un dyhead,
    Dwy dafod ond un iaith,
    Dwy raff yn cydion ddolen,
    Dau enaid ond un taith.


    • Hopeless Case
    • By Hopeless Case 17th May 18, 4:41 AM
    • 514 Posts
    • 2,765 Thanks
    Hopeless Case
    • #8
    • 17th May 18, 4:41 AM
    • #8
    • 17th May 18, 4:41 AM
    I'd second buying in Bristol, I think it's best to live near where you work if possible, the roads get fuller and fuller all the time and you're at the mercy of an accident or lane closure causing gridlock, and it's much more stressful, plus the extra money spent on travel is dead money whereas spent on a house, it would appreciate
    • EssexHebridean
    • By EssexHebridean 17th May 18, 11:22 AM
    • 8,719 Posts
    • 46,015 Thanks
    EssexHebridean
    • #9
    • 17th May 18, 11:22 AM
    • #9
    • 17th May 18, 11:22 AM
    Speaking from experience - I'd say think very carefully about not stretching yourselves at least a bit now. As others have pointed out, unless you're both looking at a complete change including jobs etc, the move to Wales would come with increased travel costs, as well as of course a much increased commute time. Have a think about, for example, how long the commute would really take you done in rush hours, and what impact a bridge closure would have on you? I presume that both of you currently have a good social circle in Bristol - how isolated might a move right away make you feel?

    My suggestion would be to take a deep breath, and look at adding a conservative mortgage to the amount you have saved. Maybe search for properties up to about 180k or perhaps a little more even? That leaves you with very manageable mortgage payments (especially between 2) and thus you should be able to set aside enough to make improvements to a property and to OP the mortgage too - if you both agree to knuckle down on overpaying you could have that amount gone inside 10 years easily enough.

    Your post just gives the feeling that the Wales thing is a compromise - and sometimes you do have to be a bit brave. Just be confident that you can afford the mortgage payments comfortably - don't over stretch. A Rightmove Map search with relevant filters set might give you some insight into which areas are worth focusing on - maybe look at a radius a sensible distance outside central Bristol if you don't want to go very central, or don't feel you can justify the increase in prices that really central means?
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