my partner only wants to buy house for profit?

[donut93]

We're looking at buying first house, one that needs a bit of work doing so we can make it our own and put our own stamp on it, house has come up that I really like, not too much work but would be able to make it look lovely with a bit of time and money, not too much though.
All he keeps on going on about is 'we won't be making enough money on it when we sell it' and 'you could chuck 15k on that house and not make any profit'
I know we don't want to loose out on money, but I'm looking at houses for us to live in and start a family, and all he sees it as is an investment
AIBU to be getting annoyed at this, or am I just having the wrong outlook on buying a house to do up? Thanks!

Are you currently living rent free? If not, then your 'profit' is the fact that you are getting the equity rather than paying towards someone else's...

Does he want to spend £15K on doing a place up? If you buy for 285 and spend 15K then you could have bought a place for 300K and saved your time.

No, not living rent free!
He wants to do somewhere up so he can make profit, for example, buy somewhere for 200k, spend 15k doing it up and making it nice, then sell it on for roughly 230k I think is what he wants to do..
He's a builder so will be able to do most of the work himself, but I'm just fed up of him saying, 'no there's not enough profit in the house' if we buy it for this much and spend this much blah blah blah'

There's a big difference to say buying a 2 bed and moving up onto larger properties as your family grows, to buying a 3/4 bed forever home.... which is it here?

If he wants profit then he's not looking long term.....

If he wants profit then he's not looking long term

I'd say the opposite. It's pretty normal for "builders" and their ilk to want to buy run down properties to do up and eventually sell for a healthy profit, to churn into the next property, and thus climb the property ladder. The whole point is that they can use their own labour, builders merchant discounts, and call in favours from other trades, to make profit, effectively tax free. It's nothing unusual.

Whether the OP wants to live life like that is a different subject, but it's certainly a way to end up with a much better property than would have been affordable by buying and paying others to renovate or just buying and staying there forever.

Sounds like OP needs a long hard talk with her partner.

Who cares about the profit if your going to live there 10 years and start a family.
I'm guessing that's where your head is at. Mine went to it instantly.

Is his mind thinking of just buying it doing it up and selling straight away therefore never actually being a family home?
If so you need to talk to him about this as you'll be pretty pissed off if you finally get it decorated and set up how you love and he decides that it needs selling before you get to enjoy it.

My big worry with builders own homes is that often they can not be "finished" - well not until they are going to be sold. As other jobs tend to come along which bring in money so are a priority over finishing their own home.
Not true in all cases, but if he is working for himself you do need to be quite assertive to make sure things are liveable.

(It is a problem in general if you are self employed, our families most expensive holiday was the one where DH was self employed and we had to forego 10 days of income.)

Wait a year before buying, because of Brexit house prices have already nose dived and will go down further.

The power dynamic between the two of you seems a bit off here. Why is he acting as if it’s down to him to decide that you’ll buy to flip? Do you communicate poorly if you don’t actually know where each other’s heads are at re buying somewhere to live in vs flip?

Badbadbunny my husband is a builder and I get the nil labour etc but you said yourself turn a healthy profit to churn into the next property so be isn't looking long term.

The OP sounds like she wants a forever home as in buy a 3/4 bed to bring children up in not move every 5-10yrs

Bekabeech
My big worry with builders own homes is that often they can not be "finished" - well not until they are going to be sold. As other jobs tend to come along which bring in money so are a priority over finishing their own home.

Couldn't agree more. A friend of mine lived in a hell hole of a house for years which her self employed builder DH pushed her to agree to buy, insisting he would transform it into a massive profit.