Hi all
Me and partner bought our first home 2 years ago, ive never settled here and both know its not where we want to stay forever. Im not happy with the area, but it could be worse. The house itself is lovely, we have fully renovated over the 2 years, if i could pick my house up and move it i would. We pay an extremely affordable mortgage thanks to buying before all the houses went up in price, and live comfortably at the moment. I only work part time at mo until my youngest starts school in september when i will be looking for a full time job, but have no idea when that will be. I cant go full time in my current job.
We are to stay in this area as we have a child already in school and a child to begin the same school, my oldest absolutely loves school and his friends so i wouldnt dream of moving areas.
A few weeks ago a house came up for sale that is definitely our forever home type. It was cheaper than usual houses in those streets so we rang and asked more info, they offered to let us view it even though we didnt have a buyer. When we went in we realised why it was cheaper, it needs ALOT of work, every single room and ceiling plastering, there was a hole in bedroom ceiling indicating a leak, garden is massively in need of sorting, owner has attempted to cut some small tress but left the cuttings in a big pile in the garden, fence panels all broke,potential damp in bedroom, kitchen bathroom needs replacing. Luckily my partner is very handy and did most renovations in our house so worked out alot cheaper. Estate agent said there had been alot of viewings but no offers due to this.
The house then sold before we had chance to go any further but then 3 weeks later came back on the market, we rang n the estate agent said the chain fell through (no idea if this is true or something came up on survey, she made a point of saying it hadnt reached survey stage)
She told us the offer he had accepted. They came to value our house,They also had a buyer very eager to view our house which she did. We spoke to our mortgage advisor.
Mortgage advisor has told us what we can get, and informed us solicitors etc have upped their prices due to overload of work, so after working out solicitor fees, estate agent, stamp duty etc. It would make a mortgage of the price he accepted out of reach slightly. We have a small amount of savings but if we went for the price he wants, our savings would be wiped out, leaving us with nothing to actually decorate or buy materials, nothing at all.
We have spoke to estate agents and told them £7000 less and they say he has said definitely not, estate agent admitted it was hard to value the house due to its current state.
I dont actually know how we can stretch ourselves anymore, and partner has said no way should we when the seller hasnt even made an effort to improve the property in 30 years (he was renting it and lives a long way from here)
Any advice? Should i just let it go?