Head vs Heart: advice for a First Time Buyer?

[MissMysticFalls]

We're viewing our 1st house today and I would love some advice from more experienced buyers on our dilemma.

We are trying to relocate to a 3 bed house in a large village, near the school, which tends to have only 1 property like that in our budget on the market at a time and they don't appear that often. We're renting so could move quickly and hang on a bit but I'm worried that holding out for the "dream home" is risky when so few properties are available.

There's a house coming on the market soon (was on, didn't sell so the vendors are tidying it up a bit apparently) which for some reason I'm a bit obsessed with. But there would be a chain and we don't know if/when it'll come back on the market.

In this situation, is using your head (go for a chain-free nice home) better than your heart (waiting for the dream home even if it has a chain)? Thanks!

Whoops - should have said, the place we're viewing today is chain-free (tenant moving out soon).

Go and see the house first. See if you actually like it.

I am assuming you can afford it and it has enough space, etc.

Why are you obsessed? And why is it not your "dream house"? Most first time buyers (and other buyers) don't get their dream house: they get one they like which ticks enough boxes on practicalities.

Thanks aunti
I don't know why I'm so drawn to the house that isn't on the market again yet. However, the garden's bigger, and it's link detached so from the front and sides it is detached. And it's close to woodland which I love the idea of.

The one we're seeing today has enough space to mean not having to move for several years - if ever!

It's just other people have talked about seeing a place that ticks the boxes but not making them go "ooh" when they walk in. I don't think we'll have the luxury of waiting for "ooh".

Looking for cautionary tales I suppose as someone who knows nothing about moving! Thank you.

Could you ask the people in dream house if they intend putting it back on the market soon?

Go and see the house that's on the market... Whilst you're there, either knock on the door of the other one (if you're feeling brave!) or put a note through the door. Tell them you've heard they might be selling at some point in the future and that you wanted to let them know you are interested. See what they say...

I wouldn't worry too much about a chain in principle. Most houses sell as part of a chain... Sometimes it means it takes a bit longer but sometimes not... My first flat was chain free but took 9 months due to a complicated leasehold and a tricky seller. Our current house was in a 5 person chain and took 4 months because everything was straightforward.

Thanks rosh and teenage I think contacting the people living in the other house is a great idea. Besides, the dream house might seem less attractive once we're in the door! The "dream house" is a bit confusing price wise though - originally it was on at £250,000 to £275,000 guide price. Why would you do that? Surely people (like me) would think it means you'd accept £250,000?

Do you mean this is the first house you've ever viewed or it'll be your first house?

If the former then I'd advise you look around just to give you a feel of what's out there, even property above your budget.

The house that was on for 250 to 275 I'm guessing they think they are firmly above the 250 stamp duty limit so don't want negotiations around the 250. Sounds like they've been given avice to tidy up as no-one was interested at the original price.

Is your timescale tied into securing a school place or have you a bit of time?

Put a note through the door of the house that isn't on the market saying you are very interested should they ever put it on the market followed by your details. You never know it might save you money on estate agents fees. Good luck

Well, we went to view the house which has a tenant moving out soon - it's our first time buying, and only the second property we've viewed, Pinkje- and the tenant wasn't home so we're having to reschedule! It did give us a chance to chat to the Estate Agent about the area and the vendor, price expectations, etc. and stroll around the neighbourhood. We also took a stroll down to the home that's not on the market and think our best bet is to write a nice note, as suggested, and pop it through the door when we go back to view the original place.

We don't need to move for school places this year, Pinkje but I'm feeling the pressure to move sooner rather than later because

1. we can't afford more than about £250-260k and I'm worried that 3 beds will be out of our budget later on,
2. our family's too big for where we live now and it's getting more of a squash as DS gets bigger.

I have viewed quite a few houses recently and all of the ones that I thought I would love and instantly want, I didn't like as soon as I walked in the door. The ones I had reservations about, I liked more so I wouldn't count on liking it as much as you think you do.

If your top budget is £260k I honestly think they are going to be hoping for more given their previous price range. Although I do agree that 250k-275k is a daft way to price.

£260k is a kind of non-price, because of the stamp duty. When we were looking, it was clear things were either under £250k or north of £270k. My bet is that your second house isn't worth £270k ad wasn't getting offers at that level, so they are tarting it up and waiting for the market to lift to get it over the price jump. Which means they might be amenable to an offer of say £260k, if you were prepared to eat the stamp duty.

Hmmm. I wonder then, given our budget, if we should just try offering 250k for the first house we view where we think, "it won't annoy me living here". And if it's not one we've set our hearts on we won't be disappointed if the vendor turns us down, rather than wait to find one we love and not be able to afford it?

We're coming from a position where anywhere will be an improvement in terms of space, having a garden, etc (although we've enjoyed living in our flat).

The other idea we had was to offer 250k to avoid the stamp duty hike, but then offer to buy furniture, white goods, etc from the vendor at a v good price, or pay for some other cost for them. Has anyone ever done that?

Personally I think it is important that a house has a 'feel' to it. You'll know when you walk in.

You can offer a price for the house and a sum for chattels which can include carpets etc. But IR are not stupid and have come across this before so it has to be a reasonable sum. A solicitor will be able to advise you.

Definitely knock on the door of the house you fancy. Firstly, you may not like it. But secondly, the vendor may be able to avoid estate agents fee which are normally 1-2% so that could give you another 2.5 to 5k to pay with. It's common here in NZ where fees are 4% plus advertising costs. I've leafleted a whole street! (It didn't work.)

buying chattels isn't liked by Solicitors if its more than a few hundred quid and it cant be for things that are generally included in a sale ie built in kitchen appliances, garden plants.

That's helpful, thank you.