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Last-minute nerves or genuine doubts about house sale?

(20 Posts)
phoria Fri 02-Sep-16 19:53:24

Due to exchange soon on a flat in London. Have had doubts for a while as it's on a busy road but decided as a FTB on a very small budget I needed to be realistic about making compromises. Now the closer to exchange I get the more I'm wondering if I should pull out.

I do like the flat and the area. But I'm thinking prices might fall and I could get something similar but quieter. Or is it normal always to wonder if you get something better? Anyone had doubts and soldiered on through just to realise it was last minute nerves? Or realised they should have listened to their doubts and pulled out?

I'm not in a big rush to move but I don't want to get priced out either.

wowfudge Fri 02-Sep-16 19:55:20

What's your main reason for buying and how long do you think you will be there?

sixinabed Fri 02-Sep-16 20:03:36

Being on a busy road is something you will never be able to change about it. If you feel deep down that you will not be happy living with it, then it may not be the right place to buy. Don't forget that it costs a lot of money to move, so if you found you hated it after 6months-a year you couldn't 'swap' it for another place at the same price in a different location iyswim. Depending on the cost of your flat - stamp duty, ea fees, solicitors etc will add up to 10s of thousands.
I bitterly regret the flat that I bought as a ftb - still in it but trying to sell right now.

DustyOwl Fri 02-Sep-16 20:06:28

If you like the flat and you like the area maybe you do need to be realistic. Is it the noise you are worrying about it the amount of people? Only you know just how busy it is and if you think you can adapt.

If you can see yourself there for a while then prices dropping won't matter so much.

For what it is worth, we have just moved into a new house. I love the area and it's our first time buy, but I wasn't sure about the size of the house. Now we are in we love it. I really really did worry before hand though!

Not sure if this is at all helpful.

phoria Fri 02-Sep-16 20:09:43

Oh no sixinabed! Why's that? Everyone's telling me that the noise isn't a big deal. Maybe it won't but I won't know that until I live there. On my budget there's always something wrong with the flat. Just need to work out what I'm prepared to compromise on.

wowfudge - I think it's time for me to live on my own and get on the ladder. Probably 2-4 years possibly renting it out afterwards if I find myself a husband!

phoria Fri 02-Sep-16 20:10:46

DustyOwl that is helpful! I'm a natural worrier so I'm not sure if this is just how I would be about any flat or just this one. Glad yours is working out.

RoganJosh Fri 02-Sep-16 20:17:21

Would it help if I suggest you won't get something similar but quieter? You'd have to go for less nice or smaller or less good area if you wanted a quieter road for the same budget. smile

phoria Fri 02-Sep-16 20:21:43

Yes it would RoganJosh! I think I do know this which is why I haven't pulled out yet. I'm close to the tube and a quieter area would probably mean further away.

sixinabed Fri 02-Sep-16 20:40:00

My regrets are due to making the wrong decision for me on which compromise to make - so I've been left in a flat for a long time with some things that I'm really unhappy with that cannot be changed.

Others are right that you always have to make compromises and you wouldn't get the same thing but quieter because that's the compromise.

I knew in my gut that mine was wrong but felt tied into the sale in a really stupid way. Not saying that is the same for you.

phoria Fri 02-Sep-16 20:45:04

So sorry to hear that sixinabed. Hopefully someone will buy it off you soon.

There's a lot right to my flat and I do feel good when I'm in it and walking around the area. I'm just worried that the noise will grate on me.

Msqueen33 Fri 02-Sep-16 20:57:28

We had something similar when choosing between two house. We offered on one as I wasn't keen on the other and we were outbid. In the end got the other house for slightly less. I wasn't keen, it didn't feel like home etc but now I'm so glad we brought it. It's in a much nicer area than the other and it has increased in value in 3 years whereas the other hasn't.

Depending on area you may always have to make a compromise. Especially in popular areas. If we were to buy in our area now we'd have to compromise quite a lot. Is there anything else on the market that appeals.

Aswell I think it's natural to be nervous as it's such a big commitment and you obviously want to make the right choice.

Is it just the road that bothers you?

phoria Fri 02-Sep-16 21:06:12

Yes that's the main thing Msqueen33. It is a popular area I'm buying in and I think it would be a good investment even if there's a dip in the market. Plus it's close to friends and if I moved to another quieter area it'll probably be further away from them.

The thing is there's nothing else on the market either. Not sure if this'll change now everyone's back from summer holiday.

LagoDiComo Fri 02-Sep-16 22:23:17

Are the windows double glazed? If so that should block nearly all the noise for most of the year. Admittedly you might want them open in summer but I think traffic noise is often white noise. Better that than the neighbours playing loud music or arguing. If not double glazed, at least you know you could install those as budget allows. As a Londoner, I quite like the idea of being in the thick of it; silence is unsettling.

I really emphasise with this as house buying is so nerve wrecking. As a PP said, it's difficult to just move on. So unfair that the high prices in London also lead to high agents fees and stamp duty. I guess you might need to look OK on the bright side, that at least you can afford to buy your own little piece of London. Being near a tube would be a massive deciding factor for me.

phoria Fri 02-Sep-16 23:20:28

Yes, being close to the tube is a big plus LagoDiComo. And yes, never thought I would be able to afford to buy on my own in London. Still can't believe it!

The windows aren't double glazed so those'll have to be replaced.

rungichungi Sat 03-Sep-16 06:40:00

If in doubt... don't!!

We had a similar choice to yours a few years ago and bought the house. It was an amazing house, but on a busy road and had a railway line behind the garden. We did it up and sold 6 months later, luckily breaking even. We would have still been there if it wasn't for the double whammy of road/rail.

Where is the bedroom? If it's on the road side you might have a problem as noise can really irritate. But if it's not, double glaze and enjoy!!!

Msqueen33 Sat 03-Sep-16 06:49:37

I would say a lot of places in London are by a busy road. If you're slightly area restricted might this be your best option? We live on a fantastic road (am sure glad we went for this house in the end) but we live in the cheapest house and there's a busy road to the side of the house. Probably not London style busy but it's a very frequently busy road especially during school hours. Have you looked to see on right move sold properties to see if what properties have sold at on a less busy road in your chosen area? That would give you an idea whether the busy road makes the flat a bit cheaper.

ThymeForTea Sat 03-Sep-16 07:40:37

We lived in a flat on a busy road for 7 years. We had a sea view and it negated the noise for ages.

6 years later and it's very annoying. But it took that long to get to us!

We now live in a house on a close and don't hear a thing.

You get used to the noise and all the good bits cancel it out.

phoria Sat 03-Sep-16 10:38:31

rungichungi - the bedroom is by the road. sad Wow, you managed the sell 6 months later. That was lucky!

Msqueen33 - Similar flats in the same development that are away from the road have sold for £10-15k more so yes definitely a small discount for the road.

Qwebec Sun 04-Sep-16 01:52:01

I think you haveto decide as other have said on what you are ready to compromise. I can't stand a noisy street, It drives me nuts. But I am very sensitive to sounds. Can you live with a noisy fridge/neighbor/loud music?

GloveBug Sun 04-Sep-16 02:00:36

I always get last minute cold feet with any big purchase/decision. It's just the way I am and I know I'm normally fine in the end. The one thing I've learnt about house buying though is to be careful about compromising. It's easy to get caught up in the excitement and think "yeah I can live with that" only for it to then bug you for the rest of your time there. You must have gone in to the process with some ideas if what you did and didn't want. Was not on a busy road on your list? If it was, and you've compromised then I think you need to think carefully about what you want to do.
Earplugs are always an option though smile

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