Home buying - what would you do?

[HomeBuyingDilemma]

We’ve recently decided to move homes but have come across a bit of a dilemma.

Two homes:

A) a new build. 4 bedroom detached with separate garage. Large downstairs, 3 doubles and 1 single. Obviously no work to do. Asking price £359k.

B) home approx 30 years old. 4 bedroom detached with integrated garage. Humongous downstairs, humongous garden. 3 double bedrooms, 1 (small) single. Lots of work needed including new kitchen and bathroom. Asking price £280k.

B is in a slightly better area than A but the work is a lot.

2 adults with 1 DC (but plan to have one or two more in the coming years).

Which would you pick?

B

B

Sorry posted too soon. I think the extra space downstairs and garden, plus it is in a better location, makes this a no brainer. If you can stomach the work!

B, we've got loads of new builds around here but I only ever hear horror stories about all the problems people have had with them. Would much rather buy cheaper (and in a better area) and do own improvements over time.

B without a shadow of a doubt. Better build, better area more potential. New build you will be snagging for years. Pooer quality in new houses, flimsy. You dont have to do all the improvements to the older house in one go

B

B, you don't need to do it all at once and kitchens and bathrooms can cost much less than the price difference.

B, hate our new build can't wait to move to an older house!

We had a similar decision and went with A and I’m really pleased we did. We’ve moved in and all we’ve had to do is put curtain poles up and start planning decoration and new furniture.
We have a toddler DC, both work full time and and another now on the way although we didn’t when we bought. I couldn’t imagine adding in the stress of having work done on the house (the organising it, the mess, the hidden expenses) and even having to decorate every room would have felt like a lot of work. Perhaps if I had more time or enjoyed those type of projects I’d feel differently though.

B

Even if it was the same price as A

Houses 30 years old are FAR better built.

New builds are full of issues, not well built and shoddily finished upon close inspection. Sound proofing is shit etc. Far less storage space

you’re clearly not buying in the SE, barely buys you a shoe box here 😢

B
You can change the house but not the area
Always buy in the best area you can afford
Take you time to make it your own
The value will increase over years
A
Will probably go down in price as a new build estate always takes years to settle as people often want to resell quickly which pulls down the prices

B

B hands down

My heart is saying B but my head is saying A. DH is leaning towards new as well because the work terrifies him, whereas I love a project.

If we did go with B we would have the money to do the bathroom and kitchen right away, but they are just the tip of the iceberg which is my main concern.

I also agree about better quality homes being the older ones, but the lazy other side of me is just thinking about just moving in and getting on with life.

I find older houses worse for heat insulation and because of the age, more things go wrong than a new build in the short term. But location location location!

B. i loathe new builds.

but i am currently sat here 41 weeks pregnant in a near on building site whilst all our money is being used either on mortgage payments or on restoring our 110 year
old house which though splendid is a pit most crucially is that i've got a very enthusiastic DH though who needs jobs which was a major deciding factor in this house purchase. last night we spent the evening pulling out old fridge and freezer and dismantling quite a lot of very old filthy kitchen so if you and your family prefer nights spent on the sofa.... get the first one.

There are 30 year old houses around here that were not built to a good standard- Barrett Homes have been around since before then. So I'd not assume the older house is a better build quality without seeing it.
My house is 15 years old and built to a much better standard than the 80s/90s estates.

Also when you say "slightly better area" what does this mean?
Have you looked at school catchment areas. Particularly at secondary level there is a huge difference between a good and bad school-unless you are going private.

Chiara by slightly better area I mean it’s deemed to be more desirable (as in people say they would rather live in B, but would be happy to live in A) but in reality its quite similar. And with regards to schools both have an ‘outstanding’ senior school within the catchment area, so no issue on that front.

B.

It sounds better. And I wouldn't pay a new build premium. Let somebody else live there first and deal with all the problems. Then I would consider one.

Kitchen and bathroom aside, is the work required essentially cosmetic? Unless it's in serious disrepair getting a 90s house into a state you like isn't that big of a deal. It probably just feels daunting because you're comparing it to a shiny showhome.

Is it the same school? Does it have spaces?

Don’t assume new build equals no work. We bought a new built last year and we’ve had over 50 days of snagging work.

B the area is better it’s a bigger house downstairs and by doing it up you are investing in it and can have it done exactly how you want it.

B

Is it going to be a forever home?

If not then definitely go with B. More chance to add value and if in a better area it will sell quicker.

If it’s a forever home then you don’t need to think about that and go with your heart more. But personally I’d still lean towards B.