Help!
We found what seemed like a perfect stopgap house for a few years- 3 bed victorian terrace. Needs GCH putting in, new kitchen, new bathroom and completely redecorating. Survey has come back mainly okay although slightly worried about load on roof (those goddam cement tiles) but thinks it is structurally sound just heavy!
Downsides:
Downstairs bathroom (and post DD I wee once or twice a night! I always said downstairs bathroom was a deal breaker- but maybe a chamber pot will be okay!? Then again we want another baby soon and I really can't see me being pregnant in that house!)
Backs onto an industrial estate distribution centre (but isn't really noisy just not the nicest view and security issues?)
Small galley kitchen
Apparently partition walls are v.thin so may hear too much of neighbours- or they hear too much of us!
Its a lot of work and gas board have told us they cant connect gas til march meaning we cant get on with as much as work as we would like (so everything will get delayed) Has electric storage heaters in meantime.
Flat roof extension at back (I hate them as do many people- affects resale?).
Think will be a nightmare to live there with 1year old and doing it up (as were going to stay elsewhere while work was done but since gas cant be connected til March this isnt an option)
Plus sides:
Its v.cheap- we can be mortgage free and have money to do it up
It would solve a problem- currently DH and I are living apart in the week while he lives in town with new job and I live an hour away.
It has great rental potential
Its chain free- we can be in in Jan.
Its below stamp duty threshold for first time buyers- which we are so no stamp duty!
But am seriously worried about it. We defo won't make any money on it but so long as we spend carefully on it we should be able to break even and have a place to live for a few years while trying to find a forever house (have been looking since august and lost out on a few :( ) I am worried we will lose money on it which obviously wouldn't be good but we may do it up to rent out and then buy somewhere else.
DH is v.keen on it, I am getting colder feet by the day- we have already shelled out £1000 on survey and solicitors but I think better lose that than lose £1000's more on it- but I really don't know.
Help wise mumsnetters!
Please or to access all these features
Please
or
to access all these features
Join our Property forum for renovation, DIY, and house selling advice.
Property/DIY
having seriously cold feet about the house we are buying (not just due to snow!)
7 replies
Thandeka · 20/12/2010 16:18
OP posts:
Please create an account
To comment on this thread you need to create a Mumsnet account.