Would you over extend yourself with this house purchase if you were me?

[Proopo]

Dh and I have found just the most gorgeous home. It needs some tlc and modernisation but it could be absolutely spectacular. Location is superb, dog walks would be like a page out of The Wind in the Willows. It feels so rural but it is only a few miles from a very pretty town. Well several. Plus excellent transport links into London

It is at the extreme end of our budget. Dh and I have had some tough few years and were really planning on the next move bringing peace into our Iives. But this opportunity with the house is so compelling.

We would probably put in a brand new kitchen before we moved in and then just do a room at a time. The reception rooms and bedrooms don’t really need doing and the bathrooms are in good nick just very ugly

We really wanted to move somewhere that didn’t need a lick of paint if we were to go towards the top of our budget

Dh and I have had some tough few years and were really planning on the next move bringing peace into our Iives. I'd say respect your needs and look for something that actually meets your brief. Peace is priceless.

What’s the purpose of your move? Downsizing? Upsizing for kids etc? Location?

Don't. If you can only just afford the mortgage, the work will never get done and you'll live in a half-done house forevermore.

Does the house purchase require a mortgage? If so, I would never stretch myself to the extreme top of my budget. Especially since the house needs lots of work on top. Your income could reduce, the interest on the mortgage could go up, you could find hidden expensive work that needs doing to the house in the future. If you want a peaceful life then keep looking for another property.

I would as long as you could live in it without doing anything if you needed to.

If it’s really at the extreme end of your budget, I wouldn’t be putting in a new kitchen straight away. Live in it for a year and then make a decision what to prioritise.

We extended our original budget by about £200k to buy our house. 😳 It’s absolutely wonderful. It’s been such a solid investment. And it’s given us such a wonderful lifestyle. Money very well spent. It does need work but we’re doing it slowly and living our best lives in the meantime.

You are romanticising the property. Stay grounded and stick with your ‘kind to ourselves’ plan.

No to be honest; we moved to the top of our budget due to needing the space and while we bought a new build and don’t “need” to do anything it’s frustrating that we don’t have the money to do what we want to do. Plus with how cost of living changed since wr bought I definitely wouldn’t do it again

Surely the answer is to look for another houses in that location?

Our house was a do upper. It's still very much on its uppers due to all the issues @Hollietree mentioned.

Read the final sentence of your post again and find a different house. You can't actually afford this one anyway given all the work and TLC it needs.

Whenever we have moved we’ve always pushed to the maximum we could afford.
It’s worked for us, but the key thing is the stability of your jobs and/or ability to earn money/find a new job.
Best of luck, whatever you decide!

we’re moving out of London for a nicer lifestyle (close to where I was raised), would like to start a family

Have you factored in maternity leave etc when you are considering what you can afford? Is the ‘top of your budget’ really the top, or beyond your means if you stop work to have a baby?

I would buy it if I could live with the existing kitchen for long enough to save for the cost of a new one. The money you are currently planning to spend on the kitchen I would leave in the bank as emergency money should one of you become out of work etc. That way you get your dream house and you have financial peace of mind.

The kitchen is just very dated but hygienic enough.

Charge your phone!

I’m sat next to the charger now 😂

Your reference to Wind in the Willows set my antenna off ! I live near one of the areas where the author lived . We bought the only house we could afford in that area when we needed to upsize and it worked out for us though we still haven’t done all the work as we discovered so much more was needed than we thought .

Living miles away from towns and stations doesn’t sound great with small kids. Plus you have mat leave which usually isn’t well paid and you have plans to renovate the house. I think you can’t afford this, are highly romanticising the house and it sounds less than ideal for kids. Unless you want to be a taxi for the next 18 years.

when I read your original post, I thought you are a retiring couple looking for peace in the countryside.

another element of this is that we would be leaving a home which we have totally redone, so going from a cosy set up which I like to think is beautiful to a doer upper would be mentally draining

Ah. ‘The romance of the wreck’ Kirsty calls it. Hard to think with your head when your hearts already in.

Sounds like it’s just cosmetic stuff that you can change as and when, take your time and enjoy the process.

If you can afford the mortgage payments and be comfortable and are in secure (as much as anyone can be) employment…YOLO, innit.

It’s 4 miles from a station with a direct line to London and a 5 min drive to a Waitrose. It feels rural but is close to amenities. The village has a pub, Indian restaurant and shop. It’s not a dead village/area. A lot of young families around. There are two very close pretty towns which have busy high streets.

Really look at your outgoings if you bought this house allowing for increase in mortgage,illness, children etc live with the kitchen it looks fine for now.Forgo holidays cut down on everything you can.Now ask yourselves do you still go for it?If yes good luck.

I would just paint the kitchen cupboards and leave it. This economy is dire—the ist if work will onky increase. But if the house is liveable and loveable I would go for it.

How close to nursery, primary school, a village hall, library, sports facilities etc. driving every day for drop offs and pick-ups is not great.