Right inside, slightly wrong area, or derelict, right area

[Babypythagorus]

We're trying to buy in a particular area because our childminder and the nicest primary school in the area are there. But prices are ridiculous there.

I can't decide whether it would be better to get:

A) a lovely, beautiful, nothing-needs-doing (extra valuable as there's a new baby plus partner and I hate diy) slightly outside the nice area, still only 20ish mins walk to the childminder/school.

B) the best thing I can afford in the nice area, which by recent house prices would be a derelict wreck

I've seen an example of a) that I like. So do I snap it up? Or carry on waiting for a (probably non-existent) house to come up in the other area...?

But if it's a 20 min walk away you won't be in the school catchment area presumably? Does your child minder drop off to other schools?

Don't over stretch yourself time and/or money wise. I'm still regretting my B decision 15 years later.

I went for B. We've got two more years to go, then both children will be off to Uni and DP and I will downsize to something that's not falling down and doesn't have to be within free transport catchment.

However, in your case B is hypothetical, you haven't actually seen a suitable wreck have you?

Also areas and schools change - your new baby won't need school for five years yet, and that's plenty enough time for the school you're looking at to crash and burn. It might not of course, but you can't be certain of anything.

I would go for A on the basis that it actually exists and sounds like a good and easy option. Don't underestimate how difficult living with never ending renovations is (and if you can't afford them please please don't buy a wreck!). You haven't mentioned school catchments; might that be an issue?

Is the slightly wrong area likely to improve? If not, you might end up wishing all you had to do was a bit of DIY!

We went for B and am so happy we did! location, location, location.

depends on level of work needed of course and if it's livable. The main compromise for us was size.

you need check out catchment too, right move has a new school checker funtion

I'd always go for B as location is everything to me but I would want to know that that house actually exists first...Is your older child already at school so you don't need to worry about getting him/her through the admissions process?

Have also done B. Not derelict but structurally sound, old lady had lived here. Completely overstretched ourselves in the short term (we knew finances would change 3 or 4 years later) and don't regret it for a second. It's hard though living in a house where you're embarrassed / ashamed of the internal decor if you have friends round / play dates etc and having house envy all the time, most if not all of your spare cash (and time) goes into the house. But all of that pales into insignificance because we love the location - neighbours, amenities, schools especially. I think you can always change a house, even if it's in tiny steps. You can never change the location.

Thanks for the advice all! We went for it but we're outbidded - must be a sign the perfect house is still out there :)