Anyone bought somewhere they didn't love? How did you feel about it long term?

[Orange80]

After much dithering and wondering if buying in London now is such a good idea, we've had an offer accepted on a flat.

The flat is an interim place, a next step type place, rather than a "forever home". The trouble is, I don't love it. It's not huge and it's leasehold. It's in the right place and is big enough for now, that's why we offered. And we got a good price for it.

But I just don't love it.

I'm considering pulling out of my offer (it's a new build so I'd be letting down a developer with still more to shift rather than one person - which would make me feel very slightly less guilty) and my offer was only accepted yesterday.

But - if I pull out - I just don't think there's much out there better for the money.

I've never bought anywhere I don't love though!

Because I don't love it, I really need for it to work as an investment and it's leasehold so that bothers me.

Did anyone buy the practical choice that gave them no emotion? And how did you feel about it later?

I've never liked the house we live in now. We bought it 8 years ago as we were relocating and it was the best available at the time in a very slow market. It needed a lot of work and we have only just finished it really. I haven't enjoyed doing the work. The house is ok I guess, and we have nice sea views which I do love, but I've never loved this house. We are going on the market this week to move and I really want to love the next one as we plan to stay there long term.
I think we should have moved into rented and taken our time. But hey ho, we didn't - and overall the house is fine, I just don't love it.

OP i read something that has since made a lot of sense for me - make decisions out of love not out of fear.

www.goodtherapy.org/blog/fear-versus-love-choice-is-yours-0713164

i bought my place because i was scared nothing better would come along and prices would keep on rising. lots did (well, a few) and they've actually gone down. if i had bought a place i loved i wouldn't care about prices dipping. now i'm constantly anxious that i'll get stuck here because of brexit.

sorry if i sound harsh but i was you not that long ago. asking everyone whether i should buy or pull out. i think if you need to ask, then you know it's not the right one for you. this is the most expensive thing you'll ever buy, it needs to be something you love! the whole housing market is based on fear but the reality is that there are always houses coming onto the market. the right one will come - don't settle. you'll regret it.

If it's a choice between a flat you don't love in an area you do versus a house in a miserable godforsaken bit of zone 4, I'd go for the flat every time.

There is no point in living in London unless you're in zone 1 or 2. Otherwise you get all the shit and none of the benefits

I agree so much with the buy out of love not fear! Hard to hold your nerve though... (and def agree with not decamping to zone 4 unless you actively really want to- location and all that...)

phoria - you've totally struck a chord. The whole market is based on fear, isn't it?! I think I feel persuaded to retract my offer and see if there's anything else out there and wait a little longer. Funny that retracting my offer doesn't make disappointed (just a bit guilty as the estate agent is - shock horror - so nice! Though I definitely a tiny bit nervous... the fear!).

jiggly - I agree with that for me, personally too. I know it's not the same for everyone. The only problem is I just don't love this flat... sign!

Yes, we bought our house to make money. Although have now fallen in love with the area and are finding the next step hard!

On paper it's a great first home, a lot of people would aspire to it, but it's not for us long term, we knew that.

But a good profit and a small mortgage help ease the pain!

We hated our house when we bought it - I cried my eyes out when the solicitor told me we'd exchanged. We only went ahead because we'd had such a good offer on our then house and absolutely nothing else came on the market in time. We were planning to do some small renovations and then move on in 2 years.

4 years later, we completely love it! It's perfect for us. It took a bit of time to settle in but within a few months we were clear we'd be here for the long term.

So I guess for us, gut feelings really weren't reliable

Our last house was a 1960s Tardis. Deeply unfashionable, but the right size in the right place and there was nothing else on the market.
We were going to stay a couple of years and move to a more 'beautiful' house! Nearly 30 years later, we sold! It had been a fantastic family home.

There is no point in living in London unless you're in zone 1 or 2. Otherwise you get all the shit and none of the benefits

LOL

I'm pretty happy in zone 3. House, lovely private and peaceful garden, driveway,

Many years ago I bought a large maisonette. It was in the right place and the right price. I hated it! Can't tell you why. Sold it 11 months later for a massive profit, so every cloud has a silver lining. Taught me never to buy a house thinking "oh well, this will do".

Hi OP

We're in exactly the same position as you- we've had our offer accepted on a leasehold flat & starting the process of organising mortgage, solicitors etc

It ticks lots of boxes in terms of location, transport and local primary schools.

Yes, I like it but certainly do not love it.

We would prefer not to buy a leasehold property.

Yes we'd prefer to buy a freehold house.

Yes we'd prefer 3 bedrooms instead of 2. And a garden.

But it's all we can afford right now in London.

I do not think that another year of scraping money together will make a difference to what we afford, even if there is a "big crash" as friends & acquaintances talk about.

So that's why we're going for it now- need to get out of this rental trap!

I could have written your OP a few years ago! But like others say, I think this thing about the house being perfect is not always true. A house can give you the life you want through location, being affordable, etc.

I still don't love mine but the life I have in it is great. And when I sell will make enough cash for something I'll really like.

And yes to everything Turquoise says.