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Have a house you can't afford to renovate?

156 replies

Fishtankerous · 02/03/2022 11:39

Anyone else?

My house needs so much doing to it that I am feeling completely overwhelmed.

We bought it as a fixer upper a few years ago, but you know how it goes - savings got decimated by issues that were worse than originally thought. Yeah yeah, naive first time buyers we were.

Currently the pressing issue is a rotten leaking old conservatory that likely won't survive another winter, annoyingly a toilet is attached to it which is actually part of the house so just demolishing it isn't straightforward and we've already got a quote for 9k to get rid of it, that's not even replacing it.

We don't even have 9k so fuck knows what we'll do. We could borrow against mortgage or get a loan but we're scraping by as it is, especially with the recent rise in energy costs etc and the general cost of living going up but our wages remaining stagnant.

(Ironically the state of the conservatory isn't helping us to save on energy bills because its causing the rest of the house to lose a LOT of heat - because it doesn't have external entry doors as the damn thing predates building regs!)

That's not to mention all the other issues in the house that we're ignoring because we're having to work on order of importance (i.e. If somethings gonna collapse soon that's gonna have to come first!)

Sorry to have a moan, I know things could be a lot worse especially with what's going on in the world. It's important to have some perspective I realise.

But after another quote for works for 10-15k today I'm just more and more annoyed, and needing some stories from others in a similar position!

What needs doing in your home that you can't do yet?

OP posts:
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Springbuds38 · 20/06/2023 20:37

Desperately need a new roof and just no way we can afford it, I just want to move but with the interest rates that’s seeming impossible and worried I’ve overpaid for the house I have now and won’t be able to afford to move, just feeling very stuck and overwhelmed by it.

Sittingonasale · 20/06/2023 20:48

Springbuds38 · 20/06/2023 20:37

Desperately need a new roof and just no way we can afford it, I just want to move but with the interest rates that’s seeming impossible and worried I’ve overpaid for the house I have now and won’t be able to afford to move, just feeling very stuck and overwhelmed by it.

My fixed term finished a couple of months ago so I went on a tracker because I knew I wanted to move soon. It's killing me!
I'm not getting a mortgage now as I just can't afford it so going with HEYLO and will buy a share and staircase asap. Could you look into that? It's been a very easy process so far and I was able to choose my own home (as long as it's over a year old).

Springbuds38 · 20/06/2023 20:54

Sittingonasale · 20/06/2023 20:48

My fixed term finished a couple of months ago so I went on a tracker because I knew I wanted to move soon. It's killing me!
I'm not getting a mortgage now as I just can't afford it so going with HEYLO and will buy a share and staircase asap. Could you look into that? It's been a very easy process so far and I was able to choose my own home (as long as it's over a year old).

Thanks I did have a look but was wary of being able to pay it off in full by the time I retire and I’ve never heard anything good about shared ownership from friends/acquaintances but maybe I need to have a proper look into it

Sittingonasale · 20/06/2023 22:36

Springbuds38 · 20/06/2023 20:54

Thanks I did have a look but was wary of being able to pay it off in full by the time I retire and I’ve never heard anything good about shared ownership from friends/acquaintances but maybe I need to have a proper look into it

I wouldn't do it if I didn't have a decent deposit and needed a mortgage to cover my share. I also wasn't sure about it being a new build and with a HA/Council. I just know I won't get a mortgage right now as I have a fixed term contract and my wages are fairly low atm.

MumApril1990 · 21/06/2023 00:03

Just wanted to say I previously had a shared ownership house and it was wonderful. Lovely house, very affordable rent portion and low service charge, and easy to buy out the rest when you want to.

Sittingonasale · 21/06/2023 06:50

MumApril1990 · 21/06/2023 00:03

Just wanted to say I previously had a shared ownership house and it was wonderful. Lovely house, very affordable rent portion and low service charge, and easy to buy out the rest when you want to.

Thank you mum.

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