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Nervous about house hunting - we need to find one!(6 Posts)
We are moving from an area where the property market is moving very quickly, to one where it's a bit slower. We need to make the leap now as the current prices mean we will be mortgage free, whereas if they change too much we'll be unable to move and stuck with a mortgage we can't afford long-term due to loss of income.
We're spending the next few days looking at houses in our new town. There are very few available and hardly any coming on the market. I feel we need to choose the best of what is available. People keep telling me that we should see if any more come up, but of they don't we could lose our buyer.
We're very limited but I like a lot of the houses. It's not a forever home, just something to serve us well for a few years until we're back on our feet again.
How do you choose in these circumstances? All of them have positives and negatives, which is fine and expected. Some will need work, but we could live with it for a while until we can afford it. I'm worried we're essentially having to take less time than I sometimes do to choose my dinner! But if the best sells and no more come on the market we're limited even further, unless they are all entirely unsuitable, which I do think they will be. It will all be a compromise. We have prioritised school places in our search as I want a nearby school with spare places, which they all do. The problem is that houses exist that would be nicer and in our budget, they're just not on the market and probably won't be now!
Have you tried narrowing down an area in the new town and then popping a letter through the houses doors that you would be interested in. I've known a couple of people sell their house like that. One person also moved in to rented in the area for 6 months until a suitable house came up.
Getting a fixer upper is a really simple option. You get it for less and can make it as nice as you want.
Other than that, I’d just write up a wishlist and see which house ticks which boxes. Hopefully, that should help you decide what’s a non-negotiable and what you can live with.
Thank you, I do have two preferred areas...I wish I'd thought of notes through doors, I'm worried if we wait now we will lose the few that are already on. A doer upper does sound good - there was an amazing house on a few weeks ago but it sold before we could get here! We have a very tiny lime at the moment so don't want to wat up our equity by renting - there is also the worry about schools as we need to make a decision on area to get school applications in (one in year move and one for starting next year).
I am busy writing up a list of requirements, it's so hard knowing where to compromise!
I think you should choose one based on its potential. Let's say you love it and decide to stay longer - is there space to build an extension? Could that small kitchen be knocked through to make the bigger kitchen you prefer? Could the boring garden be made into the beautiful garden you dream of? or whatever it doesn't have, could it be improved? etc
And if you improve the house, is it worth it financially? Don't buy the most expensive house in the road and then try to make it worth even more.