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AIBU?

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Original poster

Buy small house in a decent(ish) area or rent a massive one in a worse are?

28 replies

niketrainersarecomfy · 01/08/2018 14:44

Discuss
(Not really)….what would you do? House bursting to the seams nowhere to get away from each other. But it's a decent area near their friends and my work.
Only other option is to rent on a local estate (with crime etc) where I could get massive rooms for low rent.
What would you do please? (Mortgage offer just gone through so last minute panic-years wait for a council house so at least if I buy I have the option to move bigger in say, 5 years, but that's ages off)
Thanks in advance

OP posts:
milliemolliemou · 01/08/2018 14:51

Buy. If the local estate is as bad as you say, then you aren't worrying or paying insurance premium for household/car/goods. You also aren't paying a landlord. Will you have you got a garden? Friends of mine used old wood, windows etc from local recycling to build a summer house/shed which was a great escape for kids and adults at different times.

TroubledLichen · 01/08/2018 14:51

Buy the smaller house in the nice area providing you wouldn’t be seriously overcrowded. Owning gives you more security than renting, a nice area is better than an estate with a lot of crime if you have the choice. Depends what you mean by house bursting at the seems though... but unless it’s seriously bad like you’ve got 4 kids in a 2 bed or something like that the smaller house would be my preferred option.

Dragongirl10 · 01/08/2018 14:52

No brainer, buy......if it has a garden look at doing a garden cabin once you can save some money to gain extra escape space!

Mishappening · 01/08/2018 14:52

Opt for peace of mind - whichever option you consider that to be.

BoxsetsAndPopcorn · 01/08/2018 14:55

Better area every time, especially if you have children growing up there.

Owning usually offers far more stability and choice too.

confusedgirl123 · 01/08/2018 14:56

Buy house, you can then move in a few years when you have equity or if there is space you can renovate and build extensions

AmICrazyorWhat2 · 01/08/2018 15:04

We had a similar dilemma 10 years ago and bought a smaller house in a good neighbourhood. It's totally paid off, as we have nice neighbours, good schools and people really seem to care about the area -lots of volunteer groups that clean up the park, fund-raise for the schools, to restore old buildings, etc.

I sometimes drive past the other area (with the larger, cheaper house) that we considered buying and feel so grateful that we made the right decision. I wouldn't feel safe there.

Original poster
niketrainersarecomfy · 01/08/2018 15:18

Ha it's 4 kids in a 3 bed but the 3rd is tiny.
2 will share, 2 will have one each based on health needs and gender.
I will be doing the sofa bed in the lounge bit, but think I can just about cope with that. Lockable drive, large garden to rear. Could extend easily and have been quoted 3 grand for a decent summerhouse with electrics.
Nothing needs doing. It's quiet, I have family round the corner who can babysit if I work late. The space is the only issue, and I can't afford to move for a good while. However the mortgage payments are low, I can pay double and then save off chunks to pay each year. So will have decent equity in say, 5 years, to go bigger.
I'd like bigger, but the kids like it, it will be affordable, and no landlords like you say.
I will spend the time wishing I had extra space though, but then the alternative is to spend the time wishing I could let the kids play out, so.....

OP posts:
lettuceWrap · 01/08/2018 15:29

Buy. It gives you, and your DC so much more stability.
Over time there will be plenty of things you can do to either extend the property or make the best use of the space you have with clever ideas and good design.

redcaryellowcar · 01/08/2018 15:35

Smaller house in good area, every time. Resale value will increase more, and selling would always be easier etc.

lettuceWrap · 01/08/2018 15:36

Actually if you say the mortgage payments are low and you want to overpay to build equality and mor3 in a few years... you might want to discuss with the bank the possibility of extending now (or rather in a year or 18 months once you have all the relevant permissions), and that way you won’t have to move in 5 years (buying and selling costs a lot!).

lettuceWrap · 01/08/2018 15:36

*move in a few years

confusedmomm · 01/08/2018 16:12

No brainer. Buy Smaller house in nicer area

thatmustbenigelwiththebrie · 01/08/2018 16:12

We chose to buy a bigger house in a worse area and I have never regretted it. We could never have afforded the house we have in another area - we have a huge garden, lovely walks nearby and are very near the city centre. Yes, it's quite a scruffy area and not "naice" but our neighbours are lovely and we have been made to feel very welcome. I would much rather live here than in a tiny shoebox in a posh area.

chockaholic72 · 01/08/2018 16:19

Maybe look into having the loft converted - not a full on bedroom conversion, but a storage or playroom conversion. Then you can put all the clutter up there, or use it as a playroom/homework room? It's not too expensive either.

IceCreamFace · 01/08/2018 16:26

I would go for the small house personally and just try to be super economical with space. Maybe save up for an extension, loft conversion or whatever is practical. I think less nice areas have plenty of lovely people and posh areas have nut jobs too but I've found the likelihood of having issues is higher in less nice areas. I'd also prefer to have a house bought if I could.

Rebecca36 · 01/08/2018 16:27

Small house in decent area! No brainer.

Later on, when you're better off, you can upgrade.

Hope all goes well.

Blackbirdblue30 · 01/08/2018 16:30

Buy. Never ever line a landlord's pockets and be forced into jumping to their whims and greeds unless you have to.

Bluelady · 01/08/2018 16:33

Buy. Buy. Buy.

AmICrazyorWhat2 · 01/08/2018 16:33

Per *thatmustbenigelwiththebrie's point, the key issue is safety, not really the poshness of the area. We were comparing neighbourhoods with vastly different crime rates - it sounds like you are as well.

Aintnothingbutaheartache · 01/08/2018 16:34

Total no brainier from here!
Buy!

Original poster
niketrainersarecomfy · 01/08/2018 16:37

Thanks.
Loft conversion not possible.
Extension yes but financially not feasible yet.
I know the person selling it at a large discount so am benefitting a lot. Thats why a bigger house would be rental only.

OP posts:
Original poster
niketrainersarecomfy · 01/08/2018 16:38

I know the neighbours and the area. Its not super posh at all but much better than the rental places. Single mum of 4.

OP posts:
Notquiteagandt · 01/08/2018 16:41

As the saying goes "go for the worst house in a nice area rather than the best house in a bad area"

You can always do a house up...you cant change the area.

LimboLuna · 01/08/2018 16:42

buy buy buy
Don't rent, and don't rent with kids its shit. You can't paint, decorate, have a pet, my current one you can't even put up a picture. You can't even plant plants in the garden as you might not be there to see them flower. This is no childhood.

Once your year is up your at the mercy of your landlord, our last one put the rent up 40% we also got two months notice to move, your always aware you could have to move in two months time. You may get priced out the area which means your kids would have to change schools, It is awful

Thats befre I've even got on to leaving them something when you shuffle off this mortal world.