We’ve rented our current home for 10years. Our LL has always lived abroad and told us we could buy the house whenever we’re ready. We were never in a rush but decided we would buy it earlier this year. (The LL is having some legal trouble which should be sorted before the end of the year and then we can proceed with the purchase).
The house is much cheaper compared to others in the area. It was valued at £25K more than the LL has offered it to us. He’s being generous because we’ve lived here, looked after and paid his mortgage for so long. Our home is the only old house on the side of our street. The rest were built about 5 years ago and cost twice the price of ours.
Now to my aibu. The house needs a lot of work - new bathroom, new kitchen, new windows and doors. We also want a 4 bed instead of the 3 bed which our home currently is so we’ll do a dormer extension in the loft. Possibly, we could do a kitchen extension but we might not. This is my preferred option .
DH thinks this is too much of a hassle. We should just go for the new mortgage on a new home and pay twice the price and not have any of the trouble of building works.
I’m in my late 30s and DH is in his mid 40s. We can afford to comfortably pay a mortgage at a twice what our rent is but I would rather have a low mortgage, pay it off within 15 years and retire with no mortgage.
DH thinks we could just sell when the time comes and downsize.
Who is right?
Aibu - buy the new house and save yourself the stress
Ainbu - buy your current home. The hassle will be worth it