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AIBU?

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Original poster

AIBU to buy the horrible house next door

295 replies

thegreenlight · 13/04/2022 08:28

We live in a lovely (but small 3 bed semi with no scope to extend) next door has just come on the market - it’s horrible having been rented out by the guy across the road for years and he did the work himself. Our house has an extension, downstairs bathroom and utility. Next door has none of this but massive scope to extend to the back and side. We have never done a renovation before! Do we offer to buy directly from the owner and pay asking (it has been put on sale this morning through a local agent) what should I do? We LOVE our area but can’t afford a ready renovated house. It would mean a real dip in living standards while we do the work. Any advice? Am I being stupid!?

OP posts:
Original poster
thegreenlight · 13/04/2022 12:05

No scope for the attic - too low a pitch.

OP posts:
Quartz2208 · 13/04/2022 12:07

@thegreenlight

We have around £150k equity in our house I was hoping that would cover some of it and only £5000 stamp duty according to calculators. I will ring my mortgage advisor and ask for advice
But surely that equity is in the 320k though that you need 285k to cover the purchase price? The 150k isnt about the 320k you will receive. So if you get 320 and buy for 285k once stamp duty and fees are paid you will have 25k left unless you remortgage

The equity will allow you to remortgage but if you can do that surely it is best to look at the 400k ones

Original poster
thegreenlight · 13/04/2022 12:08

Can I post a pic of my family room so you can tell me it’s big enough already and stop being a wally! We have a separate living room too. I just worry the downstairs won’t be big enough when the boys get bigger!

OP posts:
Franklin12 · 13/04/2022 12:09

That Money Pit clip is very funny. Honestly I wouldnt do it for all the reasons as stated above.

Original poster
thegreenlight · 13/04/2022 12:12

Here is my family room currently - I would like a new kitchen though! Is it too small? Should I go for next door? We are not really DIYers!

AIBU to buy the horrible house next door
OP posts:
whynotwhatknot · 13/04/2022 12:14

sorry dont see the point and sounds like next door will go quickly

you cant go straight to the owner once theyre tied in with an agent

UserLibra78 · 13/04/2022 12:15

Your family room is lovely OP x

Obelisk · 13/04/2022 12:21

Hard to say what counts as "big enough" as I don't know your family but it looks lovely and a good size.

SniffMyQuiffyHair · 13/04/2022 12:23

Seeing your family room I think it's fine for size

Winter2020 · 13/04/2022 12:29

Perhaps you could save up for a good quality/insulated garden room with all the utilities/shower room etc as a hang out for the kids when they are teens? Could have xbox, projection cinema screen or gym equipment etc.

I think I would be very jealous watching people enjoy living in my nice house while living in a building site …but then you might feel regret if someone buys next door and does it up lovely. I would probably not buy next door as your children will spend years that could be family time/sleepovers/camping/holidays with their activities dominated by living in a building site and renovations needing to be paid for. That would be the main thing for me.

Original poster
thegreenlight · 13/04/2022 12:34

You’re speaking sense - we always seem to do this, get our finances in order then take something else on 😂 you are so right about the impact on the boys - this house has always managed to fit in whatever we need. A garden room for the boys was our plan too. I think you’re right. I’m not the jealous type and would be pleased to have permanent neighbours that we can get to know.

OP posts:
flirtygirl · 13/04/2022 12:39

Your room looks very nice.

With no renovation experience and sorry to say op, you sound clueless. I think you should stay put and save. Don't do anything to your already very nice house.

Save well and in the next 2 to 3 years as prices stagnate and drop a little (based on cycle of last few decades), be ready to move when you see something in your area.

That will put you in a strong position.

If you were an experienced renovator, it would be a good idea to buy next door but in the current high priced labour and high priced materials with many material shortages, it's not a good time to do this project.

Pinkdelight3 · 13/04/2022 12:43

Your family room looks nice and big enough plus your garden looks big and as though you have a sizeable building out there.

StrangeAddiction · 13/04/2022 12:46

I voted YANBU just off your first post and I was thinking you meant combing the two houses into a detached home. Now that you've clarified that you want to seek yours and buy next door as a doer-upper and you would have a dip in living standards I wouldn't do it. You'd still be in the same position of potentially having horrible neighbours in the future unless you done as a pp suggested and rented out your home so you can vet new tenants.

StrangeAddiction · 13/04/2022 12:54

After my last post I've now just seen your picture of the family room and kitchen. I feel that your house isn't as tiny as you think it is and is plenty big enough for Julie family assuming there's 4 of you? Even then it still looks pretty big if there were more of you. A lovely big garden too!

StrangeAddiction · 13/04/2022 12:55

Julie = Your Confused

MollyRover · 13/04/2022 13:01

I've been looking to do just this for the last 2 years, corner houses in my area are like hen's teeth and they're sold before they even come on the market in most cases. Luckily we've closed on a house just before Christmas very close by (so different sort of house but still bigger) and are all set to move in 4 weeks. Absolutely go for it, it will be a hard slog for the duration of the renovation but I would say absolutely worth it in the end.

Bootothegoose · 13/04/2022 13:01

Sit down and discuss what you want your future to be.

It could be a great decision it could also be a terrible one. My children are the same age as yours and we're FINALLY getting our independence back. No childcare costs, less limitations - we can do holidays, days out etc.

If you take on a massive project like this, whilst the potential would be amazing it would also mean a huge sacrifice not just financially but also emotionally and time-wise. I commented on a thread earlier in the week that my sister made a very similar purchase - great street, great potential, well under market value and it has nearly BANKRUPTED them and it's nowhere near finished. It's not always the simple Phil and Kirsty bang an extension on or DIY SOS we'll fix the house in a few weeks/months. It's an absolute SLOG and it is emotionally and physically crippling at times.

Speak to the owner, get an idea of the cost, action a survey with immediacy and see what they come back with. Is there subsidence etc? If structural I really, really wouldn't. If it's a matter of minor existing work and just a big extension - go for it if you want. But also be aware how expensive a double story extension will be - you are looking in excess of £100,000 just to make it habitable, never mind new kitchen, bathroom etc. Will that be reflected in the sale cost or will it be a lot of work for minimal recompense?

A bigger house isn't always the be-all and end all. Don't make any rash decision.

Roselilly36 · 13/04/2022 13:07

Honestly OP, my DS’ 20 & 19 are in their bedrooms most of the time, I definitely would base moving on increased family space.

IamtheDevilsAvocado · 13/04/2022 13:08

@thegreenlight

It’s livable currently but has a tiny kitchen. I’m concerned what we would do for cooking when the whole back of the house gets knocked out!
We managed once with a combo of microwave placed in the hallway, and eating out (wetherspoons agogoGrin).

Did this for 14 months... I was only 8...i regarded it as an adventure Grin

GrandRapids · 13/04/2022 13:13

I've done one renovation on an absolutely disgusting house that we bought cheap. There was no extension involved.

That was bad enough, It was truly awful, living without floors, kitchen etc. I hated every minute and this was without children!

I wouldn't even contemplate it with kids but I know I'm just not cut out for living like that for an extended period of time. I need my home comforts too much.

People seem to fall into two camps, the ones who have a sense of humour and just get on with it and the ones that can't hack it. Not sure which you are OP?!

RandomMess · 13/04/2022 13:19

Can you move the wall between the box room and the bedroom next to it to have 2 more similar sized rooms and then you have the other bedroom as yours?

strawberriesarenot · 13/04/2022 13:23

Re. your attic OP. You can change the pitch of your roof to build up. If it was me, I'd plan ahead and rent somewhere for the summer while it was done but my dd's neighbours did it while living in the house.

ComeSailAway · 13/04/2022 13:36

Don't have time to RTFT, but just wanted to say don't assume you'll get planning permission for the extension you're envisaging.
Might be worth having a chat with a planning officer first.

Figgygal · 13/04/2022 13:45

Buy it to knock through and have a huge house i would
But dont see the pain and cost involved in what youre proposing being worth it

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