House or location, help!!!

[BikeTart2]

Sold my property, my buyer is in rented so I'm in a very good position.

I've got a small budget to buy with in order to achieve my goal (being able to reduce my working hours and retire within the next year if I want to when I'm 60) and I have a large deposit with a tiny mortgage to purchase my next house (which ideally will be my last).

So I've seen a really well completely renovated and finished house at the top of my budget. But - it's just a bit out of the town centre with no shops nearby, not even a local grocery store AND it's on a busy road which carries commuters, buses and lorries. Parking is around the corner on the side road. The house is really lovely inside, rewired, new plumbing, new central heating system, new floors gorgeious Karndean floor, plastering, kitchen, bathroom everything is finished really well.

The other house is one I saw weeks ago and dismissed because it's, well, bland. And open plan (I dislike open plan living, I prefer separate front and dining rooms). And the current owners 'stole' a portion of the second bedroom so that they could create an upstairs landing and access to the bathroom - so bedroom 2 is much smaller than it would have been. The house is clean and well presented though, it's been a rental and holiday let and it's in the preferred location, near to the town, parks, rail links, motorway for driving to work, cycle paths and there is parking on the road. It's £20,000 cheaper and been on the market a long time so I could probably make an offer somewhat under as the owners don't live there, they are wantting to release the money to renovate the house they live in.

Both houses are Victorian and in the area it was common to either build a bathroom downstairs on the back of the house OR to have the bathroom access through the second bedroom upstairs. And with my budget and my preference for an older property that's what's available.
I don't know which way to jump, really. What would you do? I can't post links, it's too outing.

I would - and recently have - go for the second option. We sold our lovely renovated house on a main road with rubbish parking and bought a much cheaper house to do up in a much better (for us) area. We used the equity to completely renovate it to our liking from top to bottom. I then retired earlier this year and paid off my remaining mortgage. Best decision ever!

I'd pick the better location. No parking on a busy road with no shops doesnt sound like a good retirement

Second option any day. 20k is tons of money to close off the kitchen and change whatever else you want. The proximity to amenities will come in handy when you're older and a bit of a liability on the road. Personally, I really like being able to walk places.

Horrible busy, noisy road with fumes and no amenities close by sounds like a terrible place to live.

Location - the older you get the more important it becomes to get to shops, gp, public transport etc easily within walking distance if possible.

@Soontobe60 - that's very helpful because i'd have a fair sum of cash to do it up and reclaim the lost space in the 2nd bedroom. most of the changes i would want to make are easy according to my Dmate who is coming for a second viewing tomorrow; he's like a real live piglet john. I really want to be mortgage free too; this is the only way to achieve it quickly.

Location, location, location.
Plus if it's cheaper, a lower mortgage as you head for retirement, and closer to the shops as you get older. No brainer really.

You can always undo the upstairs changes, and paint it in less bland colours. £20k buys a lot of decorating, especially if you can do some yourself.

Location. Especially if you don't want to move again it will make things easier in the long run. Plus you could easily get it into the style you like for less thank £20k

Mmmm, think that's probably my gut feeling too, and why I came to MN to help me make a life changing decision

Location. Without a doubt

What do you plan to use the second bedroom for? Can you still do this with the layout? Personally I would prefer to not have the (?only) bathroom off a bedroom to save having to go through the bedroom when someone is sleeping in there. Also so I don't have to keep it tidy if guests are over. What will you not be able to do with the smaller bedroom?

100% the second one.
As you say you can change things about the house layout or decor, but you can't change the location.

I'd hate not being able to park outside my house. I'd hate not being able to walk to a local shop.
Also, you say you hope it will be your last move so potentially you will still be there maybe when you are a bit less mobile and maybe when you've given up driving, etc. When you retire and want to wander round the park.

In truth, I'd pay £20K more for the 2nd house over the first, so the fact it isn't just the same price, but is actually the cheaper one makes it a no brainer.

2nd option, parking is everything!

Location every time.

The second one. Perhaps you can take inspiration from the first one and decorate the second one to your taste?

100% the second one, the first house sounds an awful place to live.

Location. Always location.

Another vote for location.

2nd without a doubt.
Good luck

Second bedroom - guests/study. Part of my doubt was about what happens after I'm gone and my DC's are left to sort out my affairs.

@BackforGood - wow, to see you say that makes me look at it very differently indeed!!

As a retired person I couldn't agree more with the second house and everything that's been said.

When you're out at work all day things like the busy road and no shops don't matter so much but believe me when you're at home through the day they really do.

You want this to be your last house. At sixty you might put up with the lack of facilities but in fifteen, twenty years time the first house will be totally unsuitable.

No way would I pay 20k more for someone else' taste.

The second house being in a better location and the changes sound OK to me. But negotiate well and then you have pot to work with to make the house exactly as you'd like it. Sounds pretty great.

Remember too that when your dc sell the house all that up to date plumbing and rewiring could be 30-40 years old. If you get the other house then over time you can do those things anyway. If it has been on the market a little while, ex-rental, the vendors may be keen to sell and accept a lower offer, whereas the other house, done up to sell they will be wanting to recoup their recent investment which may be tricky in a falling market.

Location. Living in a bad area is a nightmare even if you’re in a lovely house.

House number two. So much better and such fun to have a decent amount of money to make it perfect. I am a similar age to you and have just bought a property in a great position. OK I would have liked one extra bedroom but am delighted with the location and hope to live here till the end. Am planning works to future proof it, including new, wiring and my dream kitchen. So excited.

Thanks all. I've been back for a second look, asked loads of questions, had a thorough look at everything and actually bedroom two is not as small as I'd remembered so - I made an offer on House 2 .

Sitting on my hands now......