Would you buy a 70s house?

[oncloudnine]

Have found a house that is ideal in terms of size, layout, nice area and good school catchment. It ticks all boxes.
But DH says it's ugly/old fashioned, and won't be a good long-term investment as these types of houses will deteriorate by the time we want to sell (it will be our home until kids leave home at least).

It's a standard 70s suburban detached with similar houses around it...the concrete-grey pebble dashed type. Maybe not the prettiest but we don't have a huge budget and it can always be painted and given a bit of TLC, so I think he's being silly. Or is he right? Particularly regarding the house keeping its value long-term. Keen to hear from anyone living in that type of house...what do you like/dislike about it? Or if you don't live in one, would you?

[quote oncloudnine]@speakout That's a good point. All the other houses in the street are of the same type and haven't been made over (although they look well maintained).

So hard to find something we both agree on. DH is swayed by shiny new kitchens and bathrooms, attractive facades and nice decor. I'm all about the practicality and long term potential of a house. [/quote]
Your DH doesn't have a clue frankly. Do not let him over rule you. Get a good survey done on anywhere you're thinking about putting an offer on.

I'm not sure about the type you posted the photo of, but brick houses 60's built id buy all day long.

I think you've made all the arguments that need to be made, in your first post :

Have found a house that is ideal in terms of size, layout, nice area and good school catchment. It ticks all boxes.

Newbuilds depreciate, a lot.

Shiny, fashionable kitchens look dated as with any high fashion item.

You don't st in front of your house and admire it, like you would a iew from your house - it first and foremost needs to be a practical living space for the way your family lives.

I wouldn't object to a house from any decade just because it was built in that decade. I would make sure it is brick built though.

70s houses are the best. Good spaces, big windows, generally easy to do up (knock walls down to go open plan) and unlike the old properties which can have rotting beams, blown plasterwork, shot roof, huge amounts of damp) 70s builds seem to hit these issues much less. They can be made attractive and sit well with contemporary styles

The 70s houses I’ve done up have been much much cheaper projects then my friends older properties.

It may be 30k less than a new build but by the time you update it you’ll spend that 30k and more. New kitchen and bathroom, new windows and doors, render the front and modernise the garden - it would look smart. In financial terms you may be better off with the new build though, once you factor in the cost of updates.

Paint the outside and replace the windows and it could look pretty!

Alternatively move in, enjoy the space and all the boxes it ticks and forget what it looks like from the outside

I think it's fine. Not beautiful but certainly not off-putting if everything else is right.

@BluSpider This is true...but, if we modernise a house ourselves, we could do it gradually, at our own pace and save up to do bits and bobs over the years. If we were short of money one year because of other demands, we could take a pause. Whereas with a more expensive house we would have higher mortgage payments every month, no matter what else is going on.

Lots of food for thought anyway...even if we don't buy this house there may be others like it that we see so good to keep all these things in mind.

@BluSpider

It may be 30k less than a new build but by the time you update it you’ll spend that 30k and more. New kitchen and bathroom, new windows and doors, render the front and modernise the garden - it would look smart. In financial terms you may be better off with the new build though, once you factor in the cost of updates.

It all depends if they want to sell on eventually too as new builds take a massive dip in price. When I bought my 70s house it already had gorgeous new bathrooms and kitchen and was totally modernised and the value is going up rather than down like the new builds round the corner which people have just started to put on the market and which have taken a nasty hit. It’s rare that you’d get a 70s house that still has its 70s (or even 90s!) bathroom, kitchen etc. Most people will have modernised it in some way and it’s likely to have had a few owners in that time. I wouldn’t have bought a 70s house that needed gutting and there’s likely to be a few good options on the market where little work is needed.

@NameChange84 it really isn't the case that all new builds dip in price, where I am they have increased substantially in the last 3 years, one sold that has increased by over a third in 4 years with no work doing to it. The development has become a sought after area of the town. It really depends on the local area and what else is available etc.

I think it really must depend on locality as I’m the same as NC84, the new builds near me go massively down in price quite soon after they’ve been built and lived in once. I had a bit of a fantasy of living in one, could afford one etc but after viewing some and seeing the (very poor) construction sites in my area, how rushed the process was and how flimsy the materials looked, I was really put off and felt they were poor value. I was advised by my mortgage advisor that new builds were like new cars, as soon as you drive off the forecourt you’ve lost a good few thousand of the value as one of the perks is that no one has lived in them and they are constantly being outdone by newer builds every single year.

I fell in love with one estate that had pretty builds and a lovely feel and all the homes were 10 years old...I was horrified to see they’d cost eg £325,000 when purchased new and were on the market for £190,000 and STILL weren’t selling. Eighteen months on, many are still on the market and quite a few ended up being rented out as student and seasonal worker house shares as people were desperate to move out as families got bigger or older and of course there were newer “shinier” new builds.

I haven’t got anywhere yet but with the exception of one now 15/20 year old estate that like morons suggests has increased a lot in value due to being in a lovely location with beautiful surroundings and near excellent schools etc, I’d most likely be avoiding the majority of new builds and recent build estates. I’d choose a 70s home over the new builds I’ve viewed. They’ve settled, you get a good idea of what the majority of neighbours are like, the designs are well thought out with plenty of space, the brick ones are really solidly constructed and, if you like the Scandi look like me there are endless options for revamping exteriors at a lowish cost. I’m a big fan of them.

I was advised by my mortgage advisor that new builds were like new cars, as soon as you drive off the forecourt you’ve lost a good few thousand of the value as one of the perks is that no one has lived in them and they are constantly being outdone by newer builds every single year.

This is a moronic statement, especially from a mortgage advisor. Houses are not like cars, properties do not depreciate. If you look at a new build estate the ones that are going up always go up for more, within 4 weeks of buying ours the newest version of ours was up for £15,000 more. Even if a new build drops its premium initially, it will increase if the market in the locality is stable. Just like buying any finished product you won't make a profit like you would a house that you've done work to, potentially. A new build you're getting everything new, flooring, appliances, boiler, electrics etc, how many houses are move in ready like that, and when they are you'd expect to pay more vs the dooer upper?

Even if houses have supposedly dropped as much as that, they will increase, as always it'll depend when you bought and what's going on. Op needs to look at their own area.

Don't touch a 70s timber frame. We were considering buying one so did a Google search on them and read some forum threads. Anyone who sounded like they knew what they were talking about said to steer clear as timber framed houses from that period often have problems with the timbers rotting and there's now way to tell without opening up all of the walls. Have a read of this.

m.brand-newhomes.co.uk/considerations-when-buying-a-timber-frame-new-home.htm

We are buying a 1970s house at the moment (and moving out of a 1760s!)

We want the big rooms, big windows and big plot that they come with. Yes they're a bit body but boxy = flexible. The rooms are good sizes, especially compared with new builds which are horrendous. It will need some upkeep but nothing like a period property

Your DH says a period property looks nice now and will in 30years...but only if you keep on looking after them. We have to do stuff constantly here. All properties need care and attention. If you maintain a 70s property, it will stay in good condition. If you don't maintain a period property, you will have big problems, quickly. Even if fully renovated when you buy it, you have to keep up with window painting, bug infestations, leaky gutters, old drains etc etc.

@moronseverywhere1

I was advised by my mortgage advisor that new builds were like new cars, as soon as you drive off the forecourt you’ve lost a good few thousand of the value as one of the perks is that no one has lived in them and they are constantly being outdone by newer builds every single year.

This is a moronic statement, especially from a mortgage advisor. Houses are not like cars, properties do not depreciate. If you look at a new build estate the ones that are going up always go up for more, within 4 weeks of buying ours the newest version of ours was up for £15,000 more. Even if a new build drops its premium initially, it will increase if the market in the locality is stable. Just like buying any finished product you won't make a profit like you would a house that you've done work to, potentially. A new build you're getting everything new, flooring, appliances, boiler, electrics etc, how many houses are move in ready like that, and when they are you'd expect to pay more vs the dooer upper?

Even if houses have supposedly dropped as much as that, they will increase, as always it'll depend when you bought and what's going on. Op needs to look at their own area.

I must have been lucky with my 70s build! Boiler a year and a half old, excellent condition Karndean flooring throughout downstairs, bathroom in perfect condition 2 years old, similar kitchen, newish fitted furniture in every bedroom. I only needed to paint it when I moved in. The New Builds nearby were a similar price but paper thin walls, not as good construction, smaller bedrooms, no storage, smaller gardens. And they have deprecated in value in the time since I bought two years ago, but I could sell at a profit in the next couple of months. I have no regrets! I wouldn’t have bought a doer upper mind.

Our first house was a 60s house. Friends of ours said it looked as if a puff of wind would blow it away. Guess what - it's still standing!

We moved out of a 70s house last year as DH’s dream was to live in a new build. I really regret it and so does he now! It’s much smaller, we bought without seeing it and didn’t realise how many houses they’d cram on so it’s darker than we thought, we had the loveliest community at our old home and the neighbourhood here isn’t what we thought or imagined, the snag list was huge, our move was continually delayed, garden is crap, parking is a nightmare and yeah, we bought outright and value has gone down. Huge buyers regret! We often drive past our old place and ask each other “shall we knock on and ask if they’d swap?!” That 70s house was fab and we left it in perfect condition. There was more wrong with our new build!

Lived in “period” homes too. Nightmare. Only move into one of you’ve got a shit ton of money to regularly bung at it. Damp, cold, fortune to heat, guttering issues, drainage etc. Bills a lot lower in the 70s house (on a par with our new build). Only thing I didn’t like was we didn’t have any way to put a downstairs loo in unless it was in the garage which was a nightmare with 5 of us. 70s house was fab for entertaining. Epic birthdays and bbqs.

I moved from a Victorian terrace to a terrace built in 1971. I didn't like the look of the house to start with, but love it now. It's very easy to live in, big windows and lovely open plan feel through the front door to the garden. There is no damp and you can drill the walls without all the plaster falling off. It is warm with minimal heating and easy to air.

We bought a 70s box house 5 years ago and I really didn’t like it when we first saw it. However, it was the only 4 bed we could afford so we got it and am so glad we did. It’s really well insulated and therefore always warm. The garden is a good size and the windows are big so it always feels light. I’ve grown to love it as we’ve been decorating it bit by bit and the inside is less 70s now! We’re getting an extension soon and the architect said what a few people on here have - that the simple design of the house makes it easy to design an extension and much less likely to run into planning issues