Fallen in love with a house. Would we be stupid to buy it?

[AngryFeet]

DH and I have fallen head over heels with a house. It is 5 miles away from where we wanted to buy but is still a good location with good schools. But it is £5k over our budget. We could borrow off family and pay this £5k back with DHs bonus at the end of the year as long as we are careful with our spending but we have a good amount to live on to be honest we just wouldn't be able to go on holiday or do any house renovations for a year. The house is very nicely done and so I doubt we would need to spend money for a while but you never know. The mortgage payments are still less than a third of our income so we are not going crazy.

I don't know what to do! I don't want to make a hasty decision based on my heart and gut feeling and make a mistake. We have offered at £5k under the asking price but they aren't budging. We have said that it is all we can afford and to get back to us if they change their minds but I really don't want to lose this house. It is beautiful and has 50% more space than we can get around where we were first looking with our budget.

ARRGGGGHHH! Help!

[SquinkieBunnies]

Sorry 1 has the kitchen and living on a different floor, all I said was about 1. 2 seems more livable.

[SquinkieBunnies]

I like number 2 better. it seems a more livable house.
2 has the kitchen on a different floor to the dining room and living room, very awkward, unless you will only eat in the kitchen. It has lots of wasted space, big wide hallways.
I thought the back was just odd. All those steps down to the garden seem very inconvenient if you have little ones.

[MinimalistMommi]

Angry go with your heart! That seems to be house number 1!

[AngryFeet]

And we can get the money for number one it is just a little bit of a stretch but that £5k would have gone on decorating at the end of the year with any other house so it is neither here nor there really.

[AngryFeet]

We won't get anything bigger than that in our area for under the 320 mark. It just keeps getting more expensive. This one at 285000 is very very rare so there is either a problem with it or it will go for more in a bidding war.

So it is small in this very good area or large in a still good area but further away.

I don't think number 1 is overpriced going by the houses sold in that road. One sold last year with 4 beds not 3 but for £370k (same 3 floor type house).

After doing some research it seems it was not actually on the market between March and Sept last year as they moved out to rented to get their son into a primary slightly out of the way (not sure why as there is a very good one around the corner). They got a buyer in March after 4 weeks on market but it quickly fell through due to buyer not being able to sell their house. Then in Sept in went back on and fell through in Jan as again buyer can't sell (although her offer still stands when she is proceedable). There is one other offer (apparently - taking this one with a pinch of salt) on the table now which was made in Feb for full asking (as was the Sept one) but again he is struggling to sell.

Owner says he honestly can't afford to lose the £5k so I guess he is just waiting for someone to be proceedable but for the asking price. Fair enough.

Will have to see what comes of the house on Saturday.

[MinimalistMommi]

Quickly looking through them, I liked house number one!

[Jaynebxl]

I like the first house more as it is more interesting but I was put off by the floor plan. I just think it isn't very practical and would drive me bonkers. Also, I think you said you have two children ... The bedrooms are very unevenly split which would also out me off. Do you pick your favourite child to have the larger room with en suite?!

[Viviennemary]

I agree that the second house has far more kerb appeal. And it certainly has more character. But the first house has the best accommodation space wise. Maybe your best bet would be to buy neither house as really another even better one could come along any day. Especially if you are not absolutely sure about either of those two houses.

[LIZS]

Comment was directed at pic 9 for house 1. Sorry but just don't think it is that special , garden looks small and lots of rooms but still think you could get similar style for less in that area. ds' classmates from that area didn't make to school in in recent snowfall.

[BreakOutTheKaraoke]

Number 1, definitely. It actually gave me little butterflies looking at it, and I'm not thinking of buying it! I think it's lovely.

[blueraincoat]

I would go with house number 2 definitely, looks more established is the only way I can put it, I think. (Sorry but really not impressed with first one, don't like that faux Tuscany thing the back has got going on). I know Warlingham very well and Biggin Hill a bit. Would definitely go for Warlingham, some lovely walks close by and the big secondary school is pretty good. Sorry if you know all this.

[melodyangel]

House no. 2. It looks like you could do so much more with it over time.

[QuintEggSensuality]

Look closely at the picture where the roof is visible, and all the ivy settling on the roof tiles. I think you need to investigate this.

I would definitely go for nr 2, but be prepared to make some repairs. And if you are going to extend into the loft, the roof could be done then?

[AngryFeet]

What would you say about the area? I know it fairly well and have friends there who love it but I don't know it really really well.

[AngryFeet]

Yes the snow would be a bastard bonzoed. We have snow tyres but with the hills not sure how good they would be. How many days on average do they get snow though? Wish there was a way to find out!

[bonzoed]

I know the area well and am wondering if you went for option 1, how easy would the school commute be in the snow - presumably you'd be traveling cross-country in a fairly hilly area?

[Viviennemary]

It all depends on how sorry you will be if you find out that somebody else has bought the house. If it's really good value for money and you are sure the location is suitable then you should go for it if the £5,000 is the only thing holding you back.

[AngryFeet]

Maybe Northern but we are slightly time limited as the rental we are in is up for sale! Yes I do love it so much Toby. I just wish I could move it a few miles nearer to here! If I could just get over myself and move the kids to a school near there it would be perfect. DS would be fine as he is in year 1 and is being bullied :( DD however would be so sad :( Secondary is great so once they are both there it is not an issue.

[NorthernLurker]

The second one is much smaller really isn't it? But better location. I wouldn't buy either tbh. I think the pace of the market is causing you to panic and try to buy houses which aren't the right size or condition or price.

[Tobermory]

Angry you obviously love house number 1 a lot and are defending it to the hilt. Perfectly understandably btw.

Maybe this thread reinforces how much you DO want house number 1!
If you think you'd regret it, and it sounds like you might, then I think you have to bite the bullet and up your offer.

[AngryFeet]

The kitchen is big enough for a good size table though so not too bothered on a daily basis about carrying food up and down. I would use the dining bit downstairs as a play area I think.

[AngryFeet]

If we wanted to extend house number 2 it would be pretty costly to be honest. Probably about £70k if we did a 2 storey in the side return which we would need to make the box room a good size and to make a big kitchen diner (near London so prices are not so cheap).