Downsizing and uninspired by options

[OfUselessBooks]

We are moving back to our home town, which we have always wanted, to be close to family. However, the move is now through necessity as we have suffered redundancy, so the plan is to sell our current house and buy mortgage free (as we can't get a mortgage - no jobs). For this reason we can't rent, but are also feeling under pressure to choose in case anything changes or we lose our buyer and our budget decreases. We've been very lucky to have a good offer on our house.

There is very little where we want to go. Most houses have been on the market for a long time and there are very few new ones. Therefore we feel like we have to choose from one of the current options, which we've seen all of. All are a compromise, I suppose because we're downsizing, which is necessary as if we wait we may end up being unable to pay our mortgage (or working all hours, which isn't the life we want). It's a good time to make the leap while we have no ties where we are.

Option 1 - small house on a newish very small estate. Houses feel very close together. However, had been extended so we would have a play room. Kitchen is tiny but has a dining room in it so could be remodelled nicely. Very close to school, parks etc. Garden is okish and probably the best of them all, but still smaller than we are used to. Would like a new kitchen and bathroom, as well as work in garden, but would be mortgage free. Link detached/semi. Parking for one car (we only have one).

Option 2 - very small but well presented detached. Really nice area and short walk to school and parks. Massively overpriced but may take an offer. Small garden. Very small bedrooms - may have to lose my huge bed. Dining area attached to living area would make a nice play room. Garage.

Option 3 - slightly more boring area but closer to family. Longer walk to parks etc. Largest of the houses but extremely dated, needs a lot of changes (non urgent but it really is awful). No bath. Ok garden(they are all smaller than we would like) but would need a lot of work to make it fun. Built in fridge and cooker, which are both far too small for us. Garage. Would need a small loan off parents (15k ish).

Option 4 - nice estate but right at the top so a good walk. By far the nicest house as it has playroom and conservatory. But a very small and hilly garden, with more side and front space, which is really unusable. In budget but new house is 3 months away so might need to move in with parents, which would muck up school spaces.

Which would you go for? (Sorry, I know it's annoying but I don't want to post links). Tha lack of decent gardens is really getting me down.

[Finfintytint]

Option 1 seems the best if you value a garden.

[middleager]

As you have kids I would prioritise school.
I would also prioritise a detached house every time, so option 2.

[jellybe]

Could you life with parents for a bit and see if your circumstances change - get new jobs. Then you'd be in a position to possibly buy somewhere you actually like as would be able to get a mortgage.

If not I'd go with house one. You clearly value garden space and that one sounds the best on that front.

[Ellmau]

No. 1 sounds the best.

[NancyNoNickers]

Option one sounds fine to me.

[Skyfatlass]

I’d pick option 1 too. It sounds like the best bet.
4 is not ready and could ruin school application so I would forget that one. 2 sounds too small and you seem to dislike the area 3 is in?
It’s hard compromising on anything but it sounds like quite a life style change so try to remember the positives, being mortgage free and closer to family will be great and you’ll be able to make the house feel like home once you’re in with your own furniture (including the big bed).

[MsLumley]

Purely from an investment perspective I'd go for option 3 as it offers potential for improvement and is a good size. It sounds like you're not keen on the area though.

Of the other options I'd say 1. I'd rule out option 2, it doesn't seem to offer anything you want other than being nicely presented, which is something you could do to any of the others.

[user1478299641]

Option 1 or option 2
Option 1 seems to offer more space n the house/garden and the most potential to make the house into what you want.
Downside is that's attached to another house and that could cause problems.

Option 2's big selling point is that it's detached and it's location is excellent. The garage is also a plus- parking/storage/possible conversion down the road.

Downside is that the rooms are small.

Your choice is:detached and location vs size of rooms and garden.

[sbplanet]

Option 3 to do it up as you like or option 2 - detached.

[JoJoSM2]

Do you intend to stay in the house for a very long time? Or is it just a stop gap for 2-3 years until you get settled and can get a mortgage again?

[Finfintytint]

Are you on the right thread alwaysinpjs?

[LittleBearPad]

If you will have enough money in a bank account to buy a house outright there is no reason you can’t rent. You could pay 6 months up front to assuage any landlord concerns.

I’d do this and wait for what you want. As chain free buyers with funds sellers will bite your hands off

[Oly4]

Option 1 or 2. But could you live with your parents, get new jobs and then up your budget next year or the year after? You don’t sound happy with any of the options tbh

[changemynametonight]

If you’re planning on staying long term then option 1 (due to being new build estate, you’ll need to take the long term view so that you don’t lose equity). If unsure of how long you’ll be there, then option 2 because it’s detached, best area, and if they accept an offer, it’s good value.

I’m very envious that you’ll be mortgage free even if it means a smaller house. I’d do that in a heartbeat if I could!

[RHRA]

Option 2 -it's in the right area for everything you need and it's a detached albeit a small house and garden.

[OfUselessBooks]

Thank you for the thoughts. We are having a second viewing of 1 and 3 this afternoon to see what we think! Area 3 is ok and the good point is that we would be close to family. We are moving from the south and everything is so much more accessible- we live on an estate now, but with parks, coffee shop, bakers, library, supermarket all within a 10 minute walk. It is going to be quite q change either way! Both have a (small) shop, but one has two nice parks virtually across the road in different directions, whereas the other is a 20 minute walk or a short drive (although road can be busy).

I think the problem with renting us that we would be saying up our capital every month and I'd be worried about wanting a house then not having enough. Plus we have to decide on an area for a school so it would be just our luck that the perfect house came up in the opposite area to the school we chose!

I think I need to focus on all of the positives - it's hard to downsize from our lovely home, but being mortgage free and near family will be amazing and will give is more security. The last few months have been a horrible upheaval and I don't want to ever go through that again.

[OfUselessBooks]

I think we will eventually move once we have saved and have jobs and buy our dream home. We live in a semi at the moment and love it, despite our slightly argumentative (but friendly) neighbours! The detached one is a little shoe box, it's such a shame but we'd be so cramped. And we can't go with virtually no gardenlike 4. I will be getting my tape measure out to measure gardens this afternoon!

[changemynametonight]

Good luck @OfUselessBooks
Hope the second viewings give you some confidence in your decision

[OfUselessBooks]

Thank you...we are feeling a lot happier tonight! We felt really positive with no. 1 and could really imagine ourselves living there. The garden is 8.5 x 10.5 metres, so actually bigger than we thought. Not as big as our current garden but big enough to play in. It is livable now, but with potential for a bit of reorganisation. I prefer the layout as both the kitchen and dining area go onto the back garden, so you could sit with a cuppa and watch the kids play, whereas with the other one (option 3) it was only the kitchen, so you could only watch them while washing up!

No. 3 was also a lot more work, plus more expensive, and it's a variation of a different style of house on the estate, which I much prefer the layout of. The garden is bigger (10.5 x 10.5 metres), but overall I think the other one meets our needs better. It is a 5 minute walk to school as well.

Thanks again, we are going to offer on no
1 tomorrow with no. 3 in reserve!

[changemynametonight]

Sounds promising! Number 1 did sound best of all your options. Best of luck with offer

[Porridgeoat]

Buy a house that you can extend in some way or improve