Need to choose between two houses today

[IrishLeo]

We were married in April and have been wanting to move house for a couple of years but have been waiting until after the wedding.
As soon as our minimoon was done we started looking at properties (new builds) and found one we really liked but we were pipped to the post by another buyer. The builder tried to tempt us to purchase a different property but after having a shockingly low part exchange valuation we decided to walk away.

We put our house up for sale a few days later and within two weeks we’ve sold it for nearly 30k more then the part ex offer, to first time buyers, who are keen to get moving with the process.

We had found a non new build property we liked and had an offer accepted on it, however the seller will need to find somewhere and is relocating to an area where she said the market is slow, however she is actively looking and has viewings lined up. Her estate agent is urging us to proceed with searches but we are dubious about paying anything until she finds a property.

I kept noticing online that the advert for the original new build we liked hadn’t been taken down and it was niggling me, so I gave them a ring and apparently the sale fell through and it’s back on the market. If we want to reserve it we would need to act quickly and pay a £500 deposit tomorrow. This house is due to be ready in July and with no chain would be a safer bet. It’s also 5k cheaper and we are going to push for some incentives to sell as we know it’s near completion and they need to get it sold.

Both houses have pros and cons. The new build is in town and has all the amenities such as shops/great wifi and is closer to family, whereas the other one is in a lovely rural village with country walks but is a short drive from any shops and a bit further from family but still within half an hour’s drive. They both offer a similar amount of space. My heart is saying the house in the village but my head is saying the new build is more practical.

We are completely torn and don’t know how we will decide. I’d feel awful pulling out of the sale on the non new build but worse if we missed out on the new build and then we lost our buyers too because our seller couldn’t find anywhere.

What would you do in the situation?

Forget about how the owner of the property you have had an offer accepted on will feel, she hasn't got another house and will find another buyer. So its just a case of which house you prefer. Tbh, it sounds like you prefer the new build otherwise why would you have been looking at it after you walked away originally?

If the house in the village was taken off the market how would you feel?
Ask yourselves the same question re the new build.
That might help you decide

Having bought a new build 4 years ago I would never again buy one. So 2nd house for me.

Deffo not the new build if you have a choice

No to the new build, not in a million years. Go old, it'll carry it's value better

New build, as you missed out on it, looked at it again and the opportunity is back.

As long as you both definitely like the house itself, it's far more practical as far as the process of buying goes.

Buying a house is stressful and the uncertainty and relying on others' choices is difficult. For the lack of emotional upheaval, the simpler chain might be better. Just don't let the developers try to mess you around.

I'd always go for a location where I can walk to the shops and am closer to family. In general, I don't like new builds but they can be well insulated and cheaper to run.

So probably the new build.

Location location location. Which is in the best area?

I've never liked new builds but I did actually like one by wain homes where the room sizes surprised me!

Do you have children, ie do you need to consider schools/the kind of area you would like your children to grow up in (pluses and minuses for both, but everyone has different views on that). Do you have mobility issues? How much do you realistically see you family? Do you both drive?

For me, the village location would win over, but I grew up in that kind of place and I think it's a pace of life I prefer. But not everyone likes that.

But I also think new builds can have their issues, they're generally more squashed in and can be quite soulless. That said, depending on how old the other house is, you may need to think about new windows, new central heating, redecoration costs etc.

If we want to reserve it we would need to act quickly and pay a £500 deposit tomorrow.
Pfft. These are the people who undervalued your house by £30k.

Why did the other people pull out?

New builds always have some issues, and your dealings with them were not the best the last time round.
I would personally always go for the house in the village, proper established community and all that....but then I really dislike new builds myself, having had so many problems with them years ago when we bought and sold houses. The market may have changed these days but I doubt it has got better. I hope you manage to sort it out.

You clearly want the new build because you’ve been checking the advert - you wouldn’t do that if you’d forgotten about it. I would go for the new build - cheap to heat, any issues get fixed by the builder, walking distance to shops, close to family. We moved into a new build estate and there’s a great community feel here, I think because everyone moved in at the same time.

New build

Village house. Will retain value better too. Older houses have bigger rooms, and are just far nicer than newbuild

My new build increased substantially in value since I bought it so that’s not always a given

Thanks for all the replies, all really valid points. We had a call from the estate agent for the lady with the house in the village this morning, and she has just signed for a new build herself which is completed and just needs flooring, so it seems like a pretty safe bet that she’ll move forward with it.

Based on this we decided to go with that house over the new build. I’m excited but I hope we made the right choice! Only time will tell I suppose. Thanks for all the support

You haven't mentioned the gardens...

Oh I'd have gone with the new build closer to family, will have some renewable energy built in and closer to town.

Fuel costs are going through the roof.

Good choice IMO!

The one in the village sounds lovely. And will likely be a better investment than the new build.

I’d go with the house in the village. You already can’t trust the vendors of the new build. We tried to buy something that looked absolutely watertight and it still fell apart at the last minute. We’d passed by another nice option that looked like it might have a more difficult chain and guess what - that all went through before we eventually moved. Go with your heart.

According to the builder they paid their deposit and then disappeared the next day with no further contact -sounded very odd to me.

Is it one of the big builders?

Yes, have you heard that happening before?

Not with big builders. They normally do the pay deposit, then sign the missives within a couple of weeks, or at least that's how it works in Scotland.

I'd be more wary if it was some small builder pulling a far one.