House Advice

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Get an estate agent out to value the place in its current state and then see if you are getting it as cheap as you think or if you’re paying market value. If it is a steal, buy it and put is straight back on the market.
 


Heffer said:
Just wanted opinions on this...

We are currently renting a house which we have the option to buy (not a scheme like rent to buy, just a price agreed with the landlord - who is desperate to sell)

House is perfectly habitable, albeit in need of a lot of work - needs new roof, kitchen, bathroom, general decor, double glazing and doors, boiler central heating - basically the lot doing to it. Also has a small yard

We are perfectly aware that the house needs money putting into it but its a steal for the location and size of house (110m2). Only thing is we really want a garden which we will never have there. We have a 10% deposit to buy this house.

On the other flip of the coin we like a new build which has come up which is a lot smaller but has the obvious new build perks and has the garden etc.

Do we get the new build using Help To Buy or get the cheap house and do it up...? Difference in price is like 60k but we might need to put I would guess 30k into the old house over time.
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I have a mate that's heavily involved in new-build contracts, and his advice is be very very very wary of any recent new build, all the major players are savage corner cutters and people are getting fucked left right and centre.
 
niceonemarra said:
If your so concerned about his families future why are you advising him to buy the worst house on a street? I'm sure his lass would love it he suggested that to her. Its the dumbest suggestion I've ever heard.
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it's not, the worst house on the street (which would be bought cheaply due to its tired condition) can become the best house on the street ffs :lol:. Why do you always itch for a scrap fella ?
Vore said:
I have a mate that's heavily involved in new-build contracts, and his advice is be very very very wary of any recent new build, all the major players are savage corner cutters and people are getting fucked left right and centre.
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I've seen loads of new build horror stories of late, probably best to give em a swerve.
 
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look out piano said:
it's not, the worst house on the street (which would be bought cheaply due to its tired condition) can become the best house on the street ffs :lol:. Why do you always itch for a scrap fella ?

I've seen loads of new build horror stories of late, probably best to give em a swerve.
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He's a bullshitting fantasist
 
becs said:
Think about the size of the new build and how your space needs will change as the bairns grow older.
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Beat me to it.

He's in 110m2 currently. He will really notice moving into a smaller home , especially with a growing family.

Let the children play football in the park.

In all reality there is probably another house out there that will work. It doesn't have to be an either or.
 
peachbum said:
Beat me to it.

He's in 110m2 currently. He will really notice moving into a smaller home , especially with a growing family.

Let the children play football in the park.

In all reality there is probably another house out there that will work. It doesn't have to be an either or.
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110m isn't that big for a house is it? That's the size of our flat and we're gonna move when the kids are a bit bigger
 
look out piano said:
it's not, the worst house on the street (which would be bought cheaply due to its tired condition) can become the best house on the street ffs :lol:. Why do you always itch for a scrap fella ?

I've seen loads of new build horror stories of late, probably best to give em a swerve.
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Good advice for property developers but the OP is clearly buying to raise a young family. Is sounds like its the first time he has bought so advice like buying the worst house on the street is just dumb.

He should avoid a new build (as they are clearly shit)and NOT buy an absolute piece of shit house that's clearly falling to bits. No wonder the landlord is desperate to sell up.

OP have a shop around and see what's on the market like the more sensible posters on here have said.
 
Lambchops said:
110m isn't that big for a house is it? That's the size of our flat and we're gonna move when the kids are a bit bigger
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All I can say is i wouldn't recommend my mother (on her own) moving into anything less than 80m2, so a family with two children downsizing to less than their current 110m2 may find the newbuild too small.
 
Lambchops said:
110m isn't that big for a house is it? That's the size of our flat and we're gonna move when the kids are a bit bigger
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Average house size in UK since 2010 is apparently only 67m and overall average is 76m. Fair bit smaller than I would have guessed.
 
niceonemarra said:
Good advice for property developers but the OP is clearly buying to raise a young family. Is sounds like its the first time he has bought so advice like buying the worst house on the street is just dumb.

He should avoid a new build (as they are clearly shit)and NOT buy an absolute piece of shit house that's clearly falling to bits. No wonder the landlord is desperate to sell up.

OP have a shop around and see what's on the market like the more sensible posters on here have said.
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Nah not a FTB mate. Bought my first home at 24 but had to sell at a huge loss hence renting now. Long story short we were desperate to move to get my eldest into a certain school so we took the hit. Bought at the worst time just before the recession and was naive enough to sign up for a f***ing together mortgage.
 
peachbum said:
All I can say is i wouldn't recommend my mother (on her own) moving into anything less than 80m2, so a family with two children downsizing to less than their current 110m2 may find the newbuild too small.
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3 bed end terrace with loft conversion. The loft isnt a habitable bedroom though, we just treat it as storage/playroom
 
niceonemarra said:
Clever lad yay.
Buy the worst house on the street, are you for real?
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It’s buy the worst house on the best street you can. An age old thing and very sound advice

As for the op, neither house. You want a garden for the kids, staying put seems daft unless there’s profit in doing in and bouncing it.
Option b of new build invariably means paying over the odds and getting a tiny garden.
I’d probably have a scout round for a different house altogether with a decent sized garden with a bit of fixing up on a decent street
 
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a1970man said:
Well take a mortgage for 100k, give 80 to the owner and use the 20 to get it sorted.
150 grand mortgage £750pcm ish
100 grand mortgage £500pcm ish

Or chip him down to 70k and use 30k to do the place up.
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I thought most banks won't give you a mortgage for more than the house is worth?

So if the house is worth 80k they will only lend 80k.
 
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