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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

AIBU to buy the house I’ve fallen in love with

137 replies

Summeryjustice · 20/10/2022 14:00

I have the choice between two houses in the same town:

A - Modern, brilliant condition, big garden, but terraced. 3 bedrooms. I’d be mortgage free if I bought it.

B - Dream house. Old, detached, enormous garden, views. Also 3 bed. Would be paying off mortgage for 20 years plus.

Houses are similar size but obviously there’s a massive price difference. Me and DP are early 40s with secure jobs. Would we be crazy to buy the dream house?

OP posts:
allabitmadtbf · 20/10/2022 14:02

B-the old house 100%.

tortiecat · 20/10/2022 14:02

You wouldn't be crazy, but in the current climate I would go A - think of all the adventures you could have with your spare money, and worry-free!

bakehimawaytoys · 20/10/2022 14:02

I'd go B. You are more likely to regret the one that got away. Just make sure you factor in rising interest rates when you do your mortgage calculations.

SilverTotoro · 20/10/2022 14:04

Go for the dream house if it’s affordable, but not if you’re stretching yourself.

MrsWhites · 20/10/2022 14:07

That depends on your outlook on life, i’d be thinking about the things I could do/see with the money I’m saving on not having a mortgage but it might be more important to you to have a dream house.

Original poster
Summeryjustice · 20/10/2022 14:08

Mortgage would be a third of our income. Not sure if that’s stretching or about right.

OP posts:
WildFlowerBees · 20/10/2022 14:14

Detached every time if you can afford it.

Bodgejobvendors · 20/10/2022 14:16

Summeryjustice · 20/10/2022 14:08

Mortgage would be a third of our income. Not sure if that’s stretching or about right.

That’s generally the definition of affordable. Will your incomes rise over time? Do you have enough disposable income?

I’d go for the house you love. There’s nothing wrong with having a mortgage in your 60s.

mamabear715 · 20/10/2022 14:17

Take a builder round option B before you decide.
Money pits aren't a good idea, especially as things are at the mo..

Calvinlookingforhobbes · 20/10/2022 14:18

Don’t romanticise the house… is it in good order? Will the roof need replacing? How old is it? Is it worth the greater valuation? Can you maintain a large garden? The choice is not between these two, it’s about the life you want to live without regrets or what ifs.

EmmaGrundyForPM · 20/10/2022 14:21

House B every time

We've just gone through the same process - downsize and pay off our mortgage or spend our savings on a "project" house. We've gone for the project house, just hope we don't regret it!

FivePotatoesHigh · 20/10/2022 14:22

I’d go A, sorry!

HangOnToYourself · 20/10/2022 14:23

I would go A because I feel like quality of life would be so much better and you could overpay massively into pension and retire early

AgathaX · 20/10/2022 14:23

It depends on so much. Your lifestyle, do you have kids living with you, did you have plans for the spare money you'd have prior to seeing the old house you love?

Personally I love old houses and I'm really not fond of modern houses, so I'd lean heavily towards the old house. Are there any others you could consider?

Tessasanderson · 20/10/2022 14:25

We moved from A to B. Dont regret it at all.

Twizbe · 20/10/2022 14:26

A. We're mortgage free and it makes a huge difference to our lives.

Plus B could well be a money pit with tons of stuff to fix.

bigfamilygrowingupfast · 20/10/2022 14:26

B - now's the time to be pushing yourself! You might not get this opportunity again

Sittingonabench · 20/10/2022 14:27

Do pros and cons.
for me a good view is worth a lot but can always be spoiled if something is built to block it.
what maintenance is likely required on each!
how do bills compare?
how does location and amenities compare (including internet connectivity, likelihood of getting GP and dentist)?
how will each serve you in old age?
is there potential to increase value?
the mortgage wouldn’t bother me so much if it satisfied the above, was comfortable for affordability, and would likely hold value.

purplecorkheart · 20/10/2022 14:30

Ideally the detached house. However, a lot depends on the house and what work will need to be done to it over the years. How is the roof etc?

fruitbrewhaha · 20/10/2022 14:31

Is there nothing in between? A detached house with a smaller garden. A modern semi that wont need money spending on it.

House B will cost more to heat, maintain, upgrade, do the garden etc.

I'm in my 40 and trying to pay off our mortgage and see a future where we don't have to work. What are your pensions like at the moment?

Awrite · 20/10/2022 14:31

I live in my dream house. You have no idea the benefit to my mental health. It's my sanctuary. It's where I come home from a stressful job to. It's where I spend most of my time when I'm not at work.

It is detached. My last house was terraced and looking back, we were always out.

DoubleDinnurs · 20/10/2022 14:31

Hmm, not the best time for a new mortgage, but as long as you can afford it, will stay put for a while, and can afford the work that needs doing I would. There is a lot of uncertainty at the moment though and inflation is still going strong.

They are predicting quite a drop in values too, so be mindful of that.

Itchybites123 · 20/10/2022 14:32

tortiecat · 20/10/2022 14:02

You wouldn't be crazy, but in the current climate I would go A - think of all the adventures you could have with your spare money, and worry-free!

And bills repairing the house

ChocFrog · 20/10/2022 14:34

Go detached if you can!!!!

My neighbours are So. Noisy. Terraced is fine with good neighbours but so hard if you find yourself next door to those who love to party.

bjrce · 20/10/2022 14:34

Think of yourself packed up, leaving your old home and moving into your new house!

Think, which house would you be more excited about moving into. That's how you'll make your decision!
That's what I did - I still feel I made the right decision.