To go for the first home we view?

[lowkeywhy12]

New build, area is good and equally convenient for both our works but totally unfamiliar. We know people who live in the village and everyone unanimously vouches for it but we’ve only ever really passed through on visits. Well connected area, lovely views, cul de sac, south facing garden and lovely 3 bed house. The price is very good as it’s under the discounted market value scheme (we would own the freehold, only caveat being we’d have to sell the house if/when we move on to another first time buyer). Wouldn’t be moving far from family as my parents are in the middle of our current rented house and this new development, ten mins drive from both.

Conflicting advice on the web saying now isn’t the time to buy a house, but equally every month we are lining landlord’s pocket with money we will never see again - and rent is going up in two weeks quite considerably.

I am overly cautious because it feels like huge change (area wise) however we couldn’t afford to buy the same standard house in the area where we are renting. Just no way. No new developments set for our immediate area either so would mean an older house and I would be worried about affording Reno/repairs

Viewing tomorrow. It would be a medium term home for sure, 5-10 years at least so not a decision to make in haste but equally we’re keen to put down roots and make a home before we bring DC into the equation and wondering if location is that much of a dealbreaker….

When you know, you know. We bought our house without viewing any others 24 years ago. We hope to live in it for the rest of our lives.

I wouldn't buy a house with a restriction on sale
You might struggle with getting a mortgage too. Not saying you won't get one but some lenders won't like it

Go for it. Your OP talks it up. You know you want it. The house prices are not decreasing they are only not going up as rapidly,

Don’t worry about the caveat about selling to first time buyers. We’re in a new build and I’m on the FB page for our builder and a private messenger group for our particular estate. The amount of first time buyers is massive! We’re not FTB but there’s loads, you’ll have no issues.

The restriction is the reason it’s affordable though - it’s designed precisely to do what @lowkeywhy12 needs, and will then help someone else do the same when she sells it. I’m looking at a property with a local occupancy restriction on it for the same reason…it helps make a desirable area financially accessible to local families rather than the flat becoming a holiday home for someone who lives miles away.

Its very important you check the reviews for the schools its in catchment for.

I only know of this school review website.
www.goodschoolsguide.co.uk/reviews

You are just as likely to like the first as the tenth. Go with your gut - if you like it and the price is right.

I'd say go for it if it's affordable. If you're planning on a family it sounds like a good location and you will be getting more for your money. I bought in a village in Cornwall and house prices were high at the time and dropped back and now where I live - outside Fowey - is really a good place. It has some holiday accommodation probably around 15% but is near the mainline station, is a mixed community, good school, shops, bus, nursery, beach, sports centre, community centre, library in the community centre with cafe that's busy, skate park, playground,pubs etc.