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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

Should I buy a house somewhere a bit grim?

110 replies

AllByMySelfDontWannaBe · 16/11/2020 04:55

I need your thoughts and advice! Might be long, only read if you're interested in property and towns 😁

I am mid 30s and would really like to buy somewhere and get on the ladder. There are two places I'm looking to buy in and cant decide what would be best.

Option 1 is a medium sized town set to become a small city. It's local to me. This is a former industrial town that has, in the four years I've been in the area, really upped its game. Once scruffy and kind of in a post industrial slump, it has built a new tech and start up hub it has filled, it has a university and design school, it is in a very strategic part of the country with excellent links to some key places. Just things like when I arrived in the area there wasnt a single coworking space, there are now three. There are big works going on to clean up and polish the old buildings, make over the streets, etc, you can see the standard of shops and services are slowly gentrifying.
Disadvantages: the region is industrial not exactly enchanting, its isnt a place that gets my heart singing, it still has a faintly "grim" feel in parts as it is in the process of being regenerated. Also risk of it NOT taking off.
Advantages: I can afford a 3 bedroom house with a garden in the centre, or a 2 bedroom at the low end of my budget, and the way things are going I think I would make a good profit when I sell. Also I have friends locally. I do feel a little affectionate towards it.

Option 2 is a well established, well heeled buzzing small city in a beautiful part of the country. It's one of the most expensive places to buy in, it's a very romantic location and idyllic city. Buying here my property would definitely hold its value, but I dont think I would make money on it. I have always wanted to live here.
Disadvantages: At the top end of my budget, I would only be able to afford a one bed flat. I also dont know the region at all, this is all based on dreaming! Dont know anyone here.
Advantages: Fulfilling a bit of a dream, property will hold value.

I cant decide whether to go for option 2 straight off the bat, or whether I should start off with option 1 as it would be financially easier, plus in a place I know well, and aim for option 2 later. Location isnt an issue re work. I think ordinarily I would head straight for option 2 but covid triggered a few MH issues in me and I have slightly cold feet about rocking on up somewhere I dont know anybody until this has all blown over. That's a minor issue though!

What do you think? Anyone got any anecdotes to share?

YABU: Buy in the dream place
YANBU: Buy in the grim place

OP posts:
CoconutMangos · 16/11/2020 07:36

Not quite the same but I bought a better house in the shitter part of town. My neighbours are friendly (except next door who don't talk to me but do my DP 🤷) and we've had no trouble. I'm glad we didn't over stretch ourselves for a mediocre house in a better part of town.

Go for option 1.

SellFridges · 16/11/2020 07:38

Sheffield is the fourth biggest city in the country. Even pre-rejuvenation I’d love to know which medium sized town that is comparable to?

And Brighton was a Millennium city I think? So only officially a city since 2000, and definitely more town sized although v well serviced.

You need better examples OP.

CaptainMyCaptain · 16/11/2020 07:38

I haven't voted because it's entirely up to you but when you gave your examples I had to laugh. I did actually choose your option 1 (nearby anyway) 33 years ago. I was able to buy a nice house, the area improved and I have never regretted it.

Veterinari · 16/11/2020 07:41

I'm not sure your examples work OP.
I'd suggest option 1 esp if Sheffield is an accurate comparison - it's a great place to live.
You'll get better responses if you give us the actual towns

Skipsurvey · 16/11/2020 07:42

up and coming vs established,
established can get worn out, become over popular

GreyishDays · 16/11/2020 07:42

I think she means Sheffield and Brighton as measures of grotty and buzzy.

Standrewsschool · 16/11/2020 07:47

option 1

HeronLanyon · 16/11/2020 07:47

Funnily enough I’d prefer to live in Sheffield any day of the week no matter budget etc. Brighton? I tend to think of it as a bit gritty/grotty - nothing major but it wouldn’t be my choice which would make me regret Sheffield !!

myhobbyisouting · 16/11/2020 07:49

Depends where they actually are

GnomeDePlume · 16/11/2020 07:51

I would go for grim rather than great.

Flats are always more volatile in the market. If for whatever reason you werent able to make the next move up you would be stuck in whatever you had. Better to be 'stuck' in a house with garden and support nearby than in a flat far from support.

Higgeldypiggeldy35 · 16/11/2020 07:51

I was in the same situation a few years ago. I went for the terrace in a grimish part of the city that was very cheap but up and coming. I made 40k on it in 5 years and because my mortgage was cheap I was able to over pay and I got a lodger so I hammered the mortgage. It has meant that on my second property I was able to put 90k deposit down and my husband and I now live in a nice house in a nice town. Doesn't always work out like that and I have to say my neighbours in the rough house were awful at times but I actually loved the house and was really pleased how it turned out in the end. Good luck

lidoshuffle · 16/11/2020 07:57

Always (financially) better to buy a place on the way up, especially if it's not your forever home. Ride its coat tails and make a bigger profit when you come to sell and maybe move to the 'nice' town at a later stage.

MoonJelly · 16/11/2020 07:59

Why can’t you tell us the location?

Why should she? Given that she's outside the UK the chances of people knowing the respective towns and being able to say anything useful about them are fairly limited.

Pinkdelight3 · 16/11/2020 08:01

I don't know why people are nitpicking about her comparables. It's clearly about the vibe, not the exact correlation in size/city-status. She even qualifies it by saying smaller than Sheffield so why have a go about Sheffield being big? Weird.

OP, I think your first option sounds great. A bit of industrial/grim can give a place a great edge, it's where cool/artistic new things foment, much less so in fully up-and-come picturesque places where most people can't afford to live. Plus having your friends there is worth a lot. Go for the three-bed (with a garden in the centre - sounds ideal!) and you can always move to the other in the future if you find you really long to

StoppinBy · 16/11/2020 08:03

I would buy the bigger house with a yard definitely.

ThomasHardyPerennial · 16/11/2020 08:05

Definitely option 1. You can clearly see changes around the place, and can see further potential. I did the same a few years ago.

I don't blame op for not revealing the locations, so many people have opinions on places they have never been to!

Valkadin · 16/11/2020 08:09

Apart from the obvious amount of bedrooms do you want a garden etc it’s mainly about your neighbours.

I live in what many would call a bit of a grim area but less than an hour away is amazing hill walking. Thirty minutes to a major city. We have really lovely neighbours, hopefully they remain for many more years.

My friend lives in a desirable area, very expensive housing but her neighbours are awful on one side. Neighbours do come and go, the good and the bad but it’s everything really.

My first purchase was a flat, dealing with the management company was a PITA.

nanbread · 16/11/2020 08:12

I think you should rent in city 2.

You've always wanted to live there, but purely based on fantasy.

I think it would be good for you to try it out and see whether it lives up to expectations.

Not sure what the housing market is like outside of UK but I also wonder if prices are likely to go down in general over the next year or so due to global recession.

Mascaramademehappy · 16/11/2020 08:16
  1. Sheffield
  2. Bath

So I would go where you have a support network. It’s worth so much more than money to have good friends around you.

WitsEnding · 16/11/2020 08:17

I’d go for Option 1, now is not the time to be stuck in a small flat. At your age I bought a two up/two down in a less desirable (but very convenient) area, rather than a small flat in a better one.

Lovely neighbours, proper community. The most important thing was that it gave me the flexibility to take relationships slowly, there was plenty of room for two without the need to formalise moving in together.

I sold during the property crash due to DC2 arriving, but I still go and walk past it since then. It’s increased in value far above average for my city.

theemmadilemma · 16/11/2020 08:21

What's enabled me most to move up the chain is I bought in an area which was due regeneration of the town centre. Good commuting centre, good for links to tech belts, but shitty area - know for it.

The regeneration took longer than expected admittedly, but I just sold at around 40% more than I paid.

Anjo2011 · 16/11/2020 08:22

Location location location

hammeringinmyhead · 16/11/2020 08:22

@Mascaramademehappy

1. Sheffield
  1. Bath

So I would go where you have a support network. It’s worth so much more than money to have good friends around you.

I've lived in a 1 bed flat in the centre of Bath and it was awful. Noisy, gridlocked traffic from 5am to 9pm, tourists tourists tourists, expensive supermarkets. So if it's the equivalent go for the first option.
Moirasrose · 16/11/2020 08:24

I think it really depends where but I do think a support network is hugely important. You could move to your dream location and be lonely.

Constance1 · 16/11/2020 08:24

Option 2: I have always wanted to live here

Life's too short to not follow a long held dream if you can, you wouldn't have to stay in your dream town forever, but you will always regret not giving it a go I think!