Dilemma! WWYD?

7 replies

IGiorni · 02/12/2018 17:40

So I’m looking to buy my first house. I’ve looked at a few and saw one that I really liked but it needed around 10k spending so I put a low offer in. It was rejected so I kept looking. I’ve since seen another that I like and it’s near enough ready to move into but it’s 40k more expensive and they’re not willing to negotiate more than a couple of grand off the asking price. The seller of the first has come back to me and said they’ll accept the offer now. So would you go for the fixer upper and have a decent amount left for savings or the higher price which will have a higher resale value in the future but leaves me next to nothing but needs nothing doing to it?

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KiaraMacleo · 02/12/2018 17:44

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BubblesBuddy · 02/12/2018 18:08

If you are up for improving a house and accept the inconvenience of that, I would go for the house that needs the work. They obviously cannot sell it and now realise they were foolish to turn your offer down. Try and get a bit more off if anything untoward comes up in the full survey you will need.

If the owners of the “move straight in”
house won’t budge much, I’d walk away. Often finished houses are over priced because the owners have spent too much on them and want to recoup their money. Just make sure you don’t get into that position with house 1! It's more to put your own ideas into a house.

Knittedfairies · 02/12/2018 18:14

I’d go for the fixer-upper; you can then get it exactly how you want it to be, and it would still cost less than the other property if your renovation budget is right. The ready-to-move-into house would wipe out your savings which may not be a good idea.

lll77 · 02/12/2018 18:46

unless it is a very expensive house (which I guess it isn't if you're a first time buyer) 40 grand is probably a very big % of the asking price, so I'm not surprised the sellers don't want to drop too much.

I'd go for the fixer-upper and use the money you save on the purchase to improve it to your own tastes.

ilovekale · 02/12/2018 19:19

Personally I'd always chose the fixer upper. Make it your own from the start

flirtygirl · 03/12/2018 14:09

Fixer upper everytime. Why pay for other people's taste? Also some done houses have problems lurking behind the nice surfaces.

Caprisunorange · 03/12/2018 14:12

£10k isn’t much of a fixer upper- what sort of work needs doing? I wouldn’t usually recommend it but our fixer upper has cost >£100k-
We spent £10k just on floorings, redecoration and blinds/ curtains. Add in some Furniture and £10k is nothing really

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