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Original poster

Panic: buy cheap house in unfashionable area?

220 replies

joysexreno · 10/04/2021 22:43

I need to buy asap and I'm having a bit of a crisis. Some of this relates to my self-perception and/or self-image.

To buy in the area where I would like to be (near London suburbs, leafy, urban), I need to compromise and get a place that requires DIY. It would be Victorian . The house is very charming and there is a large, idyllic garden that requires lots of money spent on it. All the cars on the narrow road are banged up due to the parking situation. I probably have to do £20k worth of stressful works before moving in.

Alternatively, I could buy very close to a tube line that easily takes me everywhere I need to go. Great house, totally done up, big driveway. It's on a terribly busy road and the area is extremely unfashionable. My house payment would be £250 less per month and I wouldn't really have to spend any money upon moving in.

HELP! wwyd???

OP posts:
MiaowMiaow99 · 11/04/2021 09:30

Chimney and electricals will be slightly disruptive but why not get some professionals in to quote so you know what you are getting into. You dont need to be good at diy as these are not diy jobs.
Electrical stands change in the UK almost yearly, so it's very rare to find 100% compliant homes, unless new builds or recently re wired.
Also, it's Victorian so there's always some ongoing maintenance required (but same for any house).
You've had the wobbles after a survey which is fine, but get some quotes on how much to fix. Then decide next steps. You may ask for a price reduction, but the sellers dont have to give you one.
But do it quickly so they have a chance to remarket again.

Original poster
joysexreno · 11/04/2021 09:35

@MiaowMiaow99

Yes, I'm emailing the sellers today to confirm whether they will be willing to move on the price subject to further surveys/quotes. I don't want to waste anyone's time or money.

OP posts:
Beautiful3 · 11/04/2021 09:36

The first one. I'd never choose a house on a busy main road. Trees surrounding your home will be better for you, than traffic and pollution.

maddiemookins16mum · 11/04/2021 09:53

2nd house. You have enough on your plate, why make things harder.

BlackCatShadow · 11/04/2021 10:22

I would absolutely go for the second house.

Some friends of mine moved into a fixer-upper and 20 years later it's utterly falling apart as they never got any of the work done. they just never got around to it and it's an absolute money pit. They can't even sell it and move on as it's in such disrepair.

Also, parking. Have you read the parking threads on MN? I would never buy a house that didn't have allocated parking. Too much hassle. The busy road wouldn't bother me. If you have double glazing you wouldn't hear much noise and the convenience would be a plus.

LibbyL92 · 11/04/2021 10:30

I live in Hackney which is ‘fashionable’ and it’s completely over rated.

Myself and my partner are deciding what to do, we are being priced out. And are thinking of moving a bit further out.

Just because the area isn’t fashionable now, doesn’t meant it won’t become fashionable.... gentrification springs to mind!

Ultimately, you’ll need to decide where you’ll be most happy. Having an extra £250 in my pocket would be appealing. However, if you can afford to part with that money, then go for it :)

We live on a main road, that had normal flows of traffic. However they put these bus gates in all around the borough now our road has become gridlock for best part of the day. It’s annoying as hell, but i guess I have to accept this is what living in the city will be like!

I’d look at both houses again and have a feel of where you feel most comfortable. Take a walk around both areas ect.

Good luck!

Ilovecrumpets · 11/04/2021 10:47

Hi OP

I’m also a single parent and currently live in a Victorian house. Personally I wouldn’t go for either as suspect you will spend more on doing up the first that you will save in stamp duty. Presumably if extensive rewriting this will also mean having to redecorate most rooms? Possibly likely re plastering as Victorian.

If you are someone that is happy doing up houses then that would be fine but you have said you are not. I also understand just how stressful/difficult getting divorced is and that feeling of just wanting to get on with your life again, rather than having the stress and worry of a house. I feel similar and as a result know I could not handle a Victorian property that needs work again - I do have to accept that limits my choices.

One thing however is I wonder if you could re consider your need for four bedrooms. I am also someone who loves space ( and have two DCs) but have had to accept that post divorce this isn’t something I can afford without moving far away from the location I realistically need to be in. I do understand it’s a really really hard compromise to make ( particularly if you are in effect taking a stamp back in your life prospects financially following divorce). If you can’t make that compromise then perhaps your compromise will have to be the stress of a house that needs work.

crimsonlake · 11/04/2021 10:56

Am I the only one who is stunned, I was expecting house one to be a doer upper, both look finished?

Original poster
joysexreno · 11/04/2021 10:58

@crimsonlake
That's the problem - I thought I was buying a place that is done up. Survey revealed hidden defects

OP posts:
Cam2020 · 11/04/2021 11:15

The first house spunds like there's more work required than basic DIY skills coukd cover or a just hideous carpet you have to live with for a while? You really need to be aware of spiralling costs in renovation.

Im also strugglibg to see why a 'fashionable' area is an issue? I mean what is a fashionable area anyway? What makes the area if the second house unfashionable?

UniversitySerf · 11/04/2021 11:22

I grew up in probably your dream home a six bedroom Victorian townhouse with servants quarters attached. Huge high ceilings, original fireplaces. It was bloody freezing and drove my parents to despair as it needed something done so often. It was physically beautiful but when I bought a house I bought a 1920’s absolutely suburban as you can get house.

As long as an area is safe it’s fine. But never buy on a busy road and if you search the local council website you will be able to unearth a report on air quality for the entire borough.

Also who cares what other dc think!

Original poster
joysexreno · 11/04/2021 12:43

@Ilovecrumpets I possibly could have a three bedroom with a garden office, but I absolutely need this much space for practical reasons.

I do understand what you're saying about the compromise that needs to be made. It's so hard!

OP posts:
Freddiefox · 11/04/2021 13:33

@joysexreno

Did you manage to get in touch with the sellers and discuss building regs? I’d be quite concerned about the level of workmanship If they failed to secure the chimney.

Original poster
joysexreno · 11/04/2021 16:24

@Freddiefox not yet! I drafted something and asked a friend to look at it, but no comments so far. I'm really doubting whether I want to deal with a structural issue like this Sad

OP posts:
Original poster
joysexreno · 11/04/2021 17:30

@Freddiefox

Sent now! Feel a bit like vomiting. The stress is already killing me. Buying property is not for the faint of heart.

OP posts:
Original poster
joysexreno · 11/04/2021 18:34

Update: I raised the two biggest issues with the owners of house 1 (the potential rewire and the chimney breast, and they have suggested they will fix both of these things and redecorate.) This makes me feel far, far better.

I picked my battles and didn't mention every niggling bit that requires work. I think with these things fixed, I could probably rest easy?

The house down the road is obviously a better value for the price and maybe they are conscious of this. They do also seem like nice people.

OP posts:
Netaporter · 11/04/2021 18:44

@joysexreno

Glad you feel better. You need to make your agreement a condition of completion though.

ThatOtherPoster · 11/04/2021 20:40

That’s awesome! Well done you. The sellers will know those issues will just keep coming up on everyone’s survey so it makes sense to get them fixed.

Good on you bringing it up. Hope it all goes well. Update when you’ve moved in!

Lweji · 11/04/2021 21:14

It is good news, but I would be concerned about the timing. How long will it take them to fix those issues?

babbaloushka · 11/04/2021 21:24

That's great news OP, I dream for a nice Victorian like yours.

Kitkat151 · 11/04/2021 21:24

@joysexreno

Update: I raised the two biggest issues with the owners of house 1 (the potential rewire and the chimney breast, and they have suggested they will fix both of these things and redecorate.) This makes me feel far, far better.

I picked my battles and didn't mention every niggling bit that requires work. I think with these things fixed, I could probably rest easy?

The house down the road is obviously a better value for the price and maybe they are conscious of this. They do also seem like nice people.

You wouldn’t get anywhere with negotiating a lower price after a survey for something like the electrics where I am I the north west....every survey in the land will say the electrics need reviewing...it’s a definite sellers market here and even houses up for 200k or less ,have been going for 10 to 20 k more after ‘ sealed final bids’ ....must be a lot different in London....you would be told to ‘wake up and smell the coffee’ and either take it or leave it.....the house would need to be massively subsiding before sellers would even consider a renegotiation at the moment . ( NW England)
Original poster
joysexreno · 11/04/2021 22:03

@Lweji I, too, am concerned about timing. They have done a lot of work before and seem confident so hopefully it will be ok. I am content to wait and see for the moment.

OP posts:
FuckYouCorona · 12/04/2021 02:25

To be honest can you trust them to get the work done to a satisfactory level? Do they plan on getting it done professionally or botching it themselves? My guess is the latter, otherwise why not make a reduction on the price & let you do it? Personally I'd forget this one & go for one of the other properties PP have shared, especially the one down the road, which seems much better value. I can understand not wanting to upset or mess these people around, but do you really need this shit? Flowers

picknmix1984 · 12/04/2021 03:19

I've never heard of people considering'fashionable' areas when house buying before! Do you mean they have lots of trendy clothes shops or are you referring to a place having coffee shops etc. That's a new one on me. I do know that when you are spending that amount of money then rushing is never a good idea!

Original poster
joysexreno · 12/04/2021 12:31

@picknmix1984 I think this is described in further detail throughout the thread

Have continued discussions with the owners and they seem to be very nice and reasonable. I think all of us want this to happen and we are willing to make reasonable accommodations for each other. It's such a relief.

OP posts: