I’m after a bit of advice and perspective on a house-buying situation.
I’m 36 and have been renting the same place for the past 10 ish years. I’ve managed to save a decent deposit and have recently found a house that’s within my budget and would leave me with a relatively small mortgage. The catch is that the house needs quite a lot of work, and after viewing it, it turned out to be slightly smaller than I’d hoped and has no central heating.
It’s the only property I’ve seen that really fits most of my requirements, and it has good potential to improve or extend in the future (though that would be a few years down the line).
The main complication is that my current tenancy runs until October 2026. My landlords are decent, and there’s a chance they’d let me end the tenancy early, but I can’t afford to pay both rent and a mortgage at the same time long term. Ideally, I could manage around a 2–3 month overlap and means I can get some work done in the new house before moving out of the rental.
would you put an offer in now, even with the tenancy issue and the amount of work the house needs?
would you hold off and keep looking, even though nothing else comes close at the moment?
My DP is a tradesman so I won’t be paying the going rate for works.
I think I should just go for it, but a tiny bit of me is holding back, perhaps I’m just nervous because it’s my first time? Gaaaah, someone tell me what to do please!!