Looked at a house today, head whizzing..

[wonderstuff]

So have been renting, have been offered some financial help by parents to help buy an actual house, which is dead exciting. I'm in a village which is rather lovely, but houses don't come on the market too frequently, people tend to want to settle here if they are able to.

So I'm thinking that now is a good time to buy, interest rates seem set to stay low for a while, with that and the help to buy scheme it seems likely prices will rise a bit?

There are three contenders on the market currently, a very perfect house, immaculate, lovely, period, centre of my village, on the market for slightly over my budget, we could maybe just afford it but we wouldn't be going on holidays or buying new clothes any time soon.

70s ex council house, decent size, comfortably in budget, needs re plastering, re decorating, garden currently gravel, electric storage heaters I'd want to put in central heating, kitchen is ugly but functions.

House three is on the same road as house two, has central heating, fairly new kitchen, needs new carpets but decor seems inoffensive. It's on for 10k more than house two.

Or I could wait and see what happens. I think that house two is the one I'm a bit gutted I can't put a fire in it, it's a mid terrace. But it needn't be forever and it's so much more secure than renting. I'm worried it's a lot of work, it's the storage heating that's bugging me, current owner has a fear of gas so had gas central heating removed.

I find moving so scary, don't want to get it wrong.

Would it cost you more than 10k to bring house 2 up to the standard of house 3 - on the surface it probably would IMHO.

What are the main pros and cons between 2 and 3 apart from what you've already mentioned?

If you are getting a mortgage, what would the impact be if interest rates rise? It might be worth stretching to house 1, but only if you could cope if interest rates rose.

House 1

If house one is perfect and the others a compromise, then you have to sit down and work out price v. holidays etc.
How stretched would you be? For how long?

House one would involve going cap in hand to fil to get help with stamp duty,it rates rise it may mean me going to work full time (I do a 4 day week currently) it is very lovely, it is close to top budget because it has no parking, not even on street (would be totally out of reach otherwise). Growing up we lived in nice houses but mum was always worried about money. It could be a forever home, but I feel so uncomfortable about the money, and our top offer would be significantly below the asking price.

2 and 3 are pretty much the same house, same floor plan, 2 has a porch and 3 doesn't but that's it. I think we could make 2 nicer than 3, both could be improved. They have a lounge diner and moving a wall could make that a nicer kitchen diner... Hmm

2 or 3. Whilst rates are low currently, work out how much a 1 or 2% would set you back. If it's a matter of reasonable, then ok. But if it would seriously affect you then don't do it. You don't want to worry about money then go for the more sensible option. Your home is what you make it.

well, I would decide what your top sensible price is for 1 and offer it, even if well below asking price. If you don't try you don;t get!

But I wouldn't overstretch for it form what you have said.

I would go for 2 and do it up how you want it.

and I wouldn't buy a house with no parking, however nice, just imagine how many hours of your life you will spend trying to park your car, or lugging the shopping out of it.

The no available parking at house 1 would put me right off tbh.

How much would it cost to do everything you want to houses 2 & 3?

I'm mid-30s with a 6 and 3 year old. I think I need a list of the work needed and to research the top price for similar houses locally. House 2 has been on the market over a month. It's a decent size. I didn't think buying would be an option until recently, just don't want to mess up.

I think house two will swallow up most of that 10k differential on central heating.

With regards to house two, we were in the same boat re: heating when we bought our house. We phoned Transco and asked them if they'd be able to connect us to the mains gas before we bought and they gave us a quote. We arranged for an electrician to disconnect all the storage heaters and dispose of about a week before we had heating installed, so it is doable.

If you haven't done already, do second viewings perhaps at a different time of day - you sometimes see a place in a different light a second time around. Perhaps, take a good friend with you and ask them for any comments on the properties (doesn't matter if they like them or not, but more if something is practical, or there's something you hadn't realized). You obviously know the area well, but have a walk past all properties, does one have a nicer outlook/feel as you go past, and you can see yourself in the kitchen cooking, getting out of bed there, out in the garden on a summers day etc.

Don't know how much property one is on market for, but you could put in a lower offer and see if they accept. It might still mean you struggle financially a little, but nothing ventured nothing gained.