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What would you choose?

(18 Posts)
redcatblackcat Tue 25-Feb-14 13:04:44

My partner moved into my 3 bed Victorian semi with us just before xmas, and we originally decided to buy somewhere of our own in the New Year. There are four of us (2 dc which are mine) and thought we would like somewhere a little more spacious.

Our house was valued, put on the market and we received an asking price offer within days. Our problem is that we've been offered 270k for our house, and the houses we are looking at are priced at around 340-350k and all have big gardens/a fraction more space, but the actual houses are still 3 bed semis and don't much any bigger?

I've seen one semi that I really like, and it has huge garden (which I've always wanted- our current one is tiny) and is close to town (so is our current house but it's one essential criteria.) But, it's priced at 345k, so I'm not sure it's worth moving to, as its a fairly similar size to current house. Plus we would have to pay 15k moving costs at least.

I'm really excited about moving but my partner (and friends) are asking what would be the point in moving to practically the same sized house? I guess I just really want a change! Have been in current house for 8 years and ex used to live here too - so there have been some bad memories here for me.

Alternatively we could do a loft conversion in current house, and make a kitchen-diner from two separate rooms...and that would use up all of our money.

Any thoughts?

redcatblackcat Tue 25-Feb-14 13:05:58

*don't SEEM much bigger

MissMilbanke Tue 25-Feb-14 13:07:27

New house, new start ?

KarenBrockman Tue 25-Feb-14 13:08:06

I would redecorate and stay where you are for so many reasons. Why is your DP not buying half the house off you?

HairyPorter Tue 25-Feb-14 13:09:51

Agree with your partner. Moving is a huge faff. Plus potential to lose £ on fees etc if chain falls apart. Wouldn't move unless to a much nicer place!

offblackeggshell Tue 25-Feb-14 13:15:29

I'd stay and completely overhaul where you are, within sensible financial limits. Easier on the DC too probably.

I do understand why you may want to move on though. Perhaps making the place unrecognisable will be enough.

peggyundercrackers Tue 25-Feb-14 13:15:46

i would move as i like having a bigger garden and lots of outside space, we use ours all the time when the better weather comes around. it also gives you more options if you ever want to expand the house with a bigger garden.

jimmelina Tue 25-Feb-14 13:18:43

Yeh, I know you didn't post this on relationships but how much risk is your partner taking? how much investment is he making?
I would stay where you are to be honest. Maybe extend?

redcatblackcat Tue 25-Feb-14 13:23:25

Thanks for advice. Forgot to add, if partner and I stay in current house, he will be taking on the mortgage/deeds in his name too.

I'm really tempted by moving and having a huge garden! But i also forgot to add that we would be borrowing 40k more on the mortgage so so the monthly payments would be a lot more too! (is this thread a bit of a no-brainer??!)

redcatblackcat Tue 25-Feb-14 13:27:06

Can you make a house unrecognisable for about £50k? (loft conversion is around £20-30k! but would like to have this done so that we can move horrible bathroom upstairs into small bedroom!)

KarenBrockman Tue 25-Feb-14 13:28:21

Will he be paying you half of the value equity in the property to have his name on the deeds/mortgage OP?

KarenBrockman Tue 25-Feb-14 13:29:02

You need to find out the ceiling price of a renovated house/extended in your area, then try not to exceed that.

redcatblackcat Tue 25-Feb-14 14:36:02

A couple of similar houses in my road are going for 350k+ at the moment, so we won't go above that!
The things i hate about current house are the lack of outside space and tiny back garden. We share a passageway with nextdoor neighbour, and our houses are literally 3 foot apart! she's so nosey in the summer, she puts her head over our fence to chat to the people on the other side of our house. I've offered to put up high fences but her doesn't want them!

Also, we've had serious damp this winter (but this might have put our buyer off when they did the survey anyway?)

redcatblackcat Tue 25-Feb-14 14:42:21

*SHE doesn't want them!!

LondonGirl83 Tue 25-Feb-14 15:41:10

Extend the house. I wouldn't go 70k more (in a market where houses are worth 270k-340k) for a garden. I know people who regret having bought houses with large gardens as its a lot of work. Include in your analysis the extra time you'll have to spend gardening (great if you love it as a hobby but not so great if you'd rather be doing other things with your family) or the cost of getting in someone professional to maintain.

redcatblackcat Tue 25-Feb-14 17:39:01

I DO love gardening....but it's still probably not worth spending 70k more on, plus moving costs!

burnishedsilver Tue 25-Feb-14 18:43:29

If your house is the same size, apart from the garden and is also close to town, my first reaction is that your house is undervalued. Maybe you are selling it for too little. Why are other houses asking so much more for the same size and the same area. A bigger garden is nice but its not 50-70k worth of nice.

KarenBrockman Tue 25-Feb-14 18:55:00

You can always put up a six foot fence on your side of the boundary, then she can't do anything about it.

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