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Buy a wreck or head to the seaside?

(13 Posts)
msbrightside Mon 15-Apr-13 23:29:49

I'm in a dilemma as the whether to buy a property locally (sw London) which needs £20k refurb costs (guesstimate!) to make it liveable or to relocate & carry on renting for a year or so (expensive)
I really don't know what to do for the besthmm

Background is we sold our family home last year(divorce) i got a lump sum but doesnt afford me another family home so I'm renting currently.

I have just enough money to secure the mortgage but the refurb costs will wipe me out - I'm cautious to be left in a precarious situation in a property I don't even particularly like, but is a good investment.
My other option is to relocate to Brighton (somewhere I've always wanted to live) but would have to rent for a while until I'm set up with work and can then buy.
I guess it's a question of head or heart, I've just got the feeling that this is the time to make the leap, if I buy the property locally I'm stuck and left with no cash due to the refurb sucking all my funds dry..

Any guidance/advice/crystal ball/ yoda wisdom much appreciatedsmile

NotGoodNotBad Tue 16-Apr-13 08:49:08

No idea which is wiser, but from what you say about the two options I think you should go to Brighton.

You don't like the house in London, you might find it takes more money than you thought and you might not get that money back. You don't want to stay there long term - a year is nothing, you may not even finish the refurb in that time.

Life is short - move now. smile

AliceWChild Tue 16-Apr-13 09:21:09

Heart. Your post tells me you want to move to Brighton. Do it. Life's too short and all that.

bootsycollins Tue 16-Apr-13 09:28:29

Get to Brighton! Make the leap, it's time for a fresh start smile

msbrightside Tue 16-Apr-13 12:09:24

What lovely helpful messages, thank you gringringrin
Had a very stressful night worrying and kind of came to this conclusion too, especially with all the sad news everywhere, this is one life, to live as best we can x

lalalonglegs Tue 16-Apr-13 12:28:50

Do up the house, make a profit, then move to Brighton and buy there.

formicaqueen Tue 16-Apr-13 13:44:42

Brighton hands down. You've had a hard time, make a fresh start somewhere amazing.

specialsubject Tue 16-Apr-13 13:46:37

go to Brighton. If you then find you don't like it, you just give notice to your landlord and move. If you do like it, you're fine!

Pootles2010 Tue 16-Apr-13 13:48:42

Go to Brighton. Refurbs always cost more than you think, and sounds like you can't afford it.

MadBusLady Tue 16-Apr-13 13:54:18

Definitely leap - that's head as well as heart IMO. When are you going to have a better chance of a clean break?

bordellosboheme Tue 16-Apr-13 13:55:33

Brighton, it's coo there grin

bordellosboheme Tue 16-Apr-13 13:55:43

Cool!

Kiriwawa Tue 16-Apr-13 13:56:25

I moved to the seaside. Best thing I've ever done smile

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