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AIBU?

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Original poster

To ask for insights re this house?

131 replies

LookingForDreamHouse · 29/05/2011 11:23

After MNers' positive and insightful recommendations re MistressPloppys house options, may I indulge you one more time to please help me out here?

We are about to buy our first house and due to limited funds, we have 90% settled on this;

www.rightmove.co.uk/property-for-sale/new-homes/property-31870139.html?premiumA=true

It's not a forever home. We are happy to live here for a few years until we are able to afford our dream home. It's a much better alternative to paying rent in excess of 2k a month.

I like it because its new, modern, and we have a blank canvass to decorate. There are young families there, a lovely playground, good schools and beautiful views of the golf course and equestrian center.

However, I am having second thoughts because I have not lived in a "development" before and I am worried about what the area may become 3 or 4 years down the line.

  • Is it a good investment?
  • Will the value be preserved in years to come?
  • Is there a risk of the development becoming like an "estate"?
  • Will it be quick to sell, years down the line, if we decide to move or find our forever home?

I would be very grateful if you could kindly offer pros and cons for this house.

Thank you.

OP posts:
zukiecat · 29/05/2011 13:51

This reply has been deleted

Message withdrawn at poster's request.

BrandyAlexander · 29/05/2011 14:21

I would factor in when you realistically think you will be able to afford the dream house as that will determine for how long you're going to be in this immediate house. Eg if in reality you won't be able to move again for 7 years, then you need to roll forward 5 years and look at whether your house will be "fit for purpose" for your children for the age they are then, as you will still be 2 years away from being able to afford to move to your dream house. Given how much stamp duty is, you don't want another intermediate move.

We bought our house 5 years ago knowing it wasn't our forever house and thinking we would be there 7 to 10 years. One tip is even if its not your forever house still treat it as if it is otherwise it will stop you spending money to make it feel like home. Life is too short to not enjoy your home/house.

MarisCrane · 29/05/2011 14:24

Have you considered woodside park at all? It's the other side of Ridgemont, post code n12.
This might need lots of work but is a great location with green belt to the rear. m.rightmove.co.uk/quickPage.html?page=19&cc=html5%2Fhomepage.html%3Fgoto%3DHOMEPAGE#details
I'll look for some others.

MarisCrane · 29/05/2011 14:24

Sorry [https://m.rightmove.co.uk/quickPage.html?page=19&cc=html5%2Fhomepage.html%3Fgoto%3DHOMEPAGE#details link]

MarisCrane · 29/05/2011 14:25

Arrrgh link

shortround · 29/05/2011 14:31

to me it isnt a young family home, i think it will date, and when you want to move on, you will have to compete with the next new builds being built along side. I personally wouldnt spend that amount of money to live on an estate.

Honeybee79 · 29/05/2011 14:46

Hmmm. For someone who says they're short of funds you're looking at a v expensive house in a v expensive location.

It doesn't seem to be the type of property you could add any value to. I suspect a newbuild will only go down in value unless it's in a very up and coming area. I wouldn't. In my bit of SE London you could get something much better with more outside space.

2littleterrors · 29/05/2011 14:55

lookingfordreamhouse Sorry for putting the dampeners on your house hunting, but my parents live not too far from this estate and I grew up near there, and I have got to say it's not the nicest of area's .It right across the road from a council estate which used to be very rough in it's day. I'm not too sure what it's like now. Also the catchment area for the primary schools are tiny.

ConstantlyCooking · 29/05/2011 16:53

My thoughts:
Ridgemount house - closest tube will be Mill Hill East which is not the best service (shuttle service from Finchley Central every 15 mins outside rush hour). Also the house is as good as it will be now - no scope to add value and you don't know how the estate will develop - could be nice or not. Check the local schools as the newbuild will mean lots more children for Frith Manor and so you might lose out. If you are RC you will be too far from St vincent's as the catchment is based on the distance you live from the church rather than the school. Not sure about the situation for St Paul's C of E.
On the plus side you could move straight in and you could always sleep in Bed 2 on same floor as DC and use the master as a guest room study until you feel confident to move down a floor.
Copthall - Lots of scope to add value- not sure which would be your local school maybe worth checking that out as you don't want to feel forced to move in a few years for a good primary. Agree with advice about going and listening for noise from M1/A1. Also you will be closer to the Thameslink which is much better for Farringdon the Mill Hill East. Also you are closer to the Broadway for walking to shops etc and closer to Mill Hill park.
The Nan Clarke's house would go for well over your budget I expect - it looks lovely.

LynetteScavo · 29/05/2011 18:10

tooworried, I agree it seems a reasonable price.

No, it certainly isn't a high crime area, although it's not that close to the motorway to London or the station, although you could be in the capital within 2 hours of leaving the house.

It's probably just haunted.

LynetteScavo · 29/05/2011 18:11

Ooops, wrong thread!

But yes, it's probably haunted. Grin

CheshireDing · 29/05/2011 18:21

Looking I prefer the second house because there is room for you to grow as a family there and it is more spacious, yes the kitchen is dated but if you can live with it fine.

The problem with new build at the moment is if you are going to buy you really need to be staying there for a good while - not just 2-3 years. If you only stay for a bit they will not have sold all the houses on the development - so nobody will buy a second hand home when they can have a new one and part x their's too if necessary (unless you undercut the developer on sale price).

You will also find that although it has 2 spaces on the driveway the size of the house means it will be attractive to people with teenagers/older children who have a car and hence there will be double parking on the street. New build are convenient but right now at not necessarily a good buy in the current climate - unless you negotiate a very good deal.

fairydoll · 29/05/2011 18:32

Sorry I think it's horrid,badly laid out and not child-friendly at all.I am sure you could get better for that amount of money

softhoney · 29/05/2011 18:45

You could probably negotiate a good price as it is a new build. However, you will also pay a premium because it is a new build and so you may not recoup your purchase price when you come to sell. Also you need to consider the stamp duty cost.

Personally I would never buy a new build, let alone buy one from a second new build (i.e when you come to sell)

flyingspaghettimonster · 29/05/2011 18:51

Nice area, beautiful scenery... but god that place is so ugly and soulless... I just cannot imagine it would retain value or go up in value, looking like that... is it really the only option? Even if you want modern, there are so much nicer looking places...

I don't think the housing estate is a problem though, more a benefit, if there will be other kids in the cul de sacs etc for your kids to make friends with...

umf · 29/05/2011 19:30

If I were buying in NW London, pretty much my only criterion would be living right next to a decent school.

Forget fussing about fashionable kitchens. Schools, green space, not too much traffic.

MarianneM · 29/05/2011 19:34

I was wondering about the "limited means" too with £500k to spend on a "not a forever" home...

MarianneM · 29/05/2011 19:40

If you're a first time buyer (as you say you are), you must be on a pretty high wage to be able to afford something like this... Your joint income must be well over £100k - hardly "limited means".

Adversecamber · 29/05/2011 19:49

This reply has been deleted

Message withdrawn at poster's request.

icooksocks · 29/05/2011 19:49

I have to admit-it does seem a bit of a stealth boast to me. Half a million on a interim house.
From where I am sat in my 3 bed terrace council house you have a pretty fucking rosy outlook.

Anyway 2nd house by far. I'd commit murder fo a house like that

Pictish · 29/05/2011 19:49

Limited funds.....pmsl!

noddyholder · 29/05/2011 19:51

No houses like that are at their best and deteriorate once the gloss wears off. They are a very definite look which will date and then you will have to re do in order to sell. Better to buy somewhere more basic and add to it over time and it will be 'you'

Pictish · 29/05/2011 20:03

Btw - the first link is awful.

Second house much better...although I find it kinda sad that you would not consider it a forever house, only 'it will do for now'....I don't think I need to tell you that here are people on here (including me) who would give their eye teeth to have a house like that and you'd have to forcibly remove them from it!

Honeybee79 · 29/05/2011 20:16

Second house much better.

As I said before, it doesn't sound like you're short of funds - ridiculous budget for "not a forever house" and not sure how you'll raise the fund for your forever house because I doubt a newbuild will go up in value to be honest.

What is your idea of a forever house?!

onlion · 29/05/2011 20:17

Whats a "forever" house anyway? Does anyone ever live in one house forever?

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