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What to compromise on when buying a house?

(29 Posts)
HarrietJones Wed 20-Jul-11 19:16:58

Are you my parents?

They have compromised on location & increased budget by 20%. They're compromising on outdoor space & possibly living space. And doing work.

Basically all that is the same as the original brief is the town. And people don't accept offers( even up to 5% under) , people don't get back when they offer or in one case they offered an hour after the vendor accepted a lower one.

It's hard work!

minipie Wed 20-Jul-11 19:12:26

We compromised on price and paid far more than our ideal budget - now got huge mortgage. Still not sure if it was the right decision, depends on what happens with our jobs really.

If I were you I'd compromise on doing work. The fundamentals of a house (basic size and location) can't be changed but things like extensions and decor can in due course. Ok you have to live with it in the meantime but you end up with what you want in the end.

KristinaM Wed 20-Jul-11 19:04:15

Everyone has been in your situatio! Unless they are very rich. Because there is mo perfect house and if there was , someone richer than you would buy it. We compromised on the condition of the house and have been doing it up as we have the time and money.after 8 years we still have a lot to do. I don't regret it. But living in a building site can be stressful

MatLeaveForever Wed 20-Jul-11 18:57:24

I can't seem to buy a house, it doesn't seem to be a buyers market where I am!
We have buyers for our house and are due to exchange in the next couple of weeks - that took forever for us to accept an offer and we took lower than we paid for the house just so we could move on with our lives. We quickly found another house to buy and was all going well until the seller pulled out the other week due to personal reasons.
We looked at more houses last week, even upped our budget slightly so that we had more properties to look at. We offered on one, our highest offer was 94% of the asking price but they refused, despite it being on the market for 9 months! Don't think they're in a hurry to sell and we would have had to spend some money on the house so couldn't go in any higher, although I did want to live there!
Now I can't find anything else to offer on, everything just seems to have too many compromises. There was another house we liked but the kitchen was quite small, although done up nicely, and I'd much prefer an eat in kitchen as I think it would be more practical (we have an 8 month old daughter). Although it could have been extended it sounds like an expensive project and we wouldn't have the extra money to do it for a few years. We're quite particular about the area we want to live in so don't think we'll compromise on that, but at the same time I want lots of living space and don't want to do too much work to a house.
So we'll likely be having to rent somewhere soon once we've sold, as although we have faimly we can stay with I don't want to do that for too long!
Sorry for the long story - just not sure how to know what to compromise on - I keep thinking that if we make do with a house I'll regret it and a perfect one will appear on the market straight after, but also worried that we'll rent for 6 months and still won't find our dream house! Anyone been in a similar situation, what did you do in the end?

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