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Agonising over house vs flat and need to decide ASAP!!!

49 replies

camelotte · 29/06/2022 21:49

We've had an offer accepted on a great house in an area we don't love. We're used to being very close to our town centre (London outer zone), walking everywhere or taking public transport. We don't even have a car. But the house is amazing and a really good price, though we'd need to get a car, maybe change schools and pretty much adopt the suburban lifestyle (which I know lots of people love, but it's never been for us).

BUT now another option has surfaced, very central to where we live, and we'll need to act quickly if we want it. It's slightly cheaper but it's a much smaller flat on the ground and lower ground floor (shared freehold). A nice little garden backing a park, but no light-flooded interior. It's close to everything. We wouldn't need to change schools, activities, gp, etc. We wouldn't need a car. It's not as nice as the house we've offered on or the place we're renting, but the location is perfect and hugely important to us. Ever since our offer on the house was accepted, I've felt a huge sense of loss about leaving where we are. It's the first place that ever felt like home and a place I wanted to stay.

Neither option is perfect and I feel like either way we'll be looking to either upgrade from the flat or move to a house closer to town in a few years. I've moved so much in my life and put off buying because of it and now I'm 47 and just want to settle down and never spend another minute on rightmove. But there are so few affordable options in our area that I can't see any way to get exactly what we want without this purchase being a stepping stone and it's all so stressful.

What would you lovelies do? Go with the big lovely house in a so-so area or the so-so flat in the lovely area?

OP posts:
Ladybug14 · 30/06/2022 05:59

OneCup · 29/06/2022 22:24

I d say neither.

This

SafelySoftly · 30/06/2022 07:08

OP what areas? I’d be inclined to stick with flat where you want to be.

friskybivalves · 30/06/2022 07:10

Is an awful lot of money to put into either property that doesn't feel right. Your chain free status would stand you in good stead with anything new coming on around you... Have you thought about putting notes through doors of any streets where you know you can afford and would like the houses? Even if they're not up for sale currently? I know it sounds a right faff but it does work for some people.

Geneticsbunny · 30/06/2022 08:06

It is your first step on the housing ladder so it won't ever be perfect. Just work out which compromise is the least annoying for you and pick one. I am guessing you could add more value to the house and so it would be a safer bet on terms of risk if house prices stagnate? But as others have said it sounds like you would prefer the flat. Which one would be easier to sell? Which one offers best chance for adding value?

mistletoe1 · 30/06/2022 08:28

The flat but only if you think it has longevity.

We’ve lived in a 2 bed flat in zone 2 for 12 years and it’s been fine, though we’ve never had a house so haven’t had to experience the downgrade. We outgrew the flat quite a while ago but we stayed for the location. Our service charges and ground rent are minimal which I think helps and you learn to regularly declutter.

We’re now trying to move as we do now want more space and we’re going for a nice house in an area we’re a bit on the fence about. I am really going to miss it here and would love to stay if we could but we are significantly outpriced.

HensInTheSkirtingBoard · 30/06/2022 11:04

A flat in the area you love, with private garden and share of freehold? I'd go for it., after checking ground rent etc etc.

No first-time buy is ever going to be 'perfect' - and I speak as someone who also didn't get on the property ladder until late 40s so I know what a big shift it is.

Location is all. If you love it, others will love it when you come to sell.

B0ssAssB1tch · 30/06/2022 11:13

Id go for the flat because personally i think it's better for the kids to stay in their schools, you love the area and the flat is big enough. It sounds like a good step onto the property ladder.

ChateauMargaux · 30/06/2022 11:35

Flat...

Daisy03 · 30/06/2022 12:33

Definitely the flat, location to me is the most important thing, but maybe with links better advice could be given? 😉

Springandsummerarecoming · 30/06/2022 12:35

Neither. You don’t sound too keen on either of them so could you keep looking?

TittleTattleOh · 30/06/2022 18:22

Listen to your gut. If you’re getting a sinking feeling then the properties are not right for you. If you buy one of the properties you’re probably going to end up with buyers remorse.

If you’re buying with a mortgage on a fixed rate and term it could end up costing you a lot more money than you anticipated.I bought a share of freehold flat and it was hell on earth. Never, ever again!!

The noise from the neighbours below and the neighbours above was awful. I could hear conversations word for word from the flat below. I could hear the fella cough and fart. His television was on loud in the evenings when you just want to relax. I couldn’t have a bath or shower in the evenings because the smell of mince, onions, cabbage and whatever else would stink out the bathroom. If I walked around in my flat which was carpeted throughout, he would thump up on his ceiling. The person in the flat above me had wooden flooring and stomped around like an elephant. Oh and let’s not forget to mention the door slamming the neighbours loved a bit of that. Then there was the smoking outside that would waft inside. Complaining made it a darn sight worse, the inconsiderate nobheads upped the ante and of course they weren’t at fault. They poured what looked like oil over my doormat. It says a lot about them, the selfish fuckers.

Funnily enough no one seems to stay at that particular block of flats for long. There have been a lot more flats sold and for sale there. To me that is a glaringly obvious red flag to avoid at all costs. Amazing the amount of info you can find out on zoopla and rightmove.

I couldn’t wait to get away from that flat but it cost me dear. I wasn’t able to port my mortgage in time. I was penalised £5000 by my lender for selling up and not keepin to a mortgage agreement for 5 years fixed term. It was a small price to pay to keep my sanity.

Nandocushion · 30/06/2022 18:31

Get the flat! We bought the house we loved in the location we didn't and regretted it the whole time we lived there. We now have a meh house in the best location and we'll probably never leave.

In any case - don't buy the house!

LessonsinGurning · 30/06/2022 18:35

Flat - I went for the suburban house and pretty much regret it daily.

Fireflygal · 30/06/2022 19:03

How old are the children? 3 miles feels doable.. can you say areas as that might help.

Starseeking · 30/06/2022 23:31

I would go for a house over a flat any day of the week, however I would not buy a house in an area I didn't love again. Having learnt my lesson, I would continue looking.

Iamabarbiegirl · 02/08/2023 18:28

What did you end up doing, OP?

camelotte · 18/02/2024 15:26

We went with the house. It's a great house and I've found some nice things about the new area (parks, good yoga class) but I miss my old neighbourhood every single day and am saving to move back as soon as we can.

I think we made the best decision that was available to us at the time and, for a number of reasons, we really couldn't have held off on buying any longer. If we had waited, we would have seen our interest rate triple, so in that respect, we bought just in time.

The new area has outstanding and good schools very close by, so that should help us get a decent price when we finally can sell. I'm hoping that will be in 2-3 years.

OP posts:
Mirabai · 18/02/2024 15:37

I just read the thread and was shouting HOUSE so I’m glad you went with that. I think that was the right decision. A squashed lower ground floor flat would have been a big shock after a spacious rental house and this house will likely appreciate more quickly than a flat - London flats still haven’t regained pre-pandemic popularity. Good luck with your next move.

Alphabet1spaghetti2 · 18/02/2024 15:45

.

Roselilly36 · 18/02/2024 16:10

House over a flat, leasehold properties can be hassle, freehold house is a better option.

1983Louise · 18/02/2024 16:44

I'd wait if you're not sure, it's a massive purchase and an extremely expensive mistake if you get it wrong. Spring is fast approaching I'm sure there will be other properties in the area you want as this is peak selling time. Like the programme says, Location, Location, Location.

Norhymeorreason · 18/02/2024 16:48

Joyfultoes · 29/06/2022 22:00

Flat. You can’t buy a house you have a sinking feeling about. Don’t do it

Is there a third option? To stay where you are a while longer and see if something better comes up in the spring? Don't go for the house if the idea of it makes you feel deflated - and the flat doesn't sound great either. If you can, I would stay put.

TammyJones · 18/02/2024 20:01

Mirabai · 18/02/2024 15:37

I just read the thread and was shouting HOUSE so I’m glad you went with that. I think that was the right decision. A squashed lower ground floor flat would have been a big shock after a spacious rental house and this house will likely appreciate more quickly than a flat - London flats still haven’t regained pre-pandemic popularity. Good luck with your next move.

Me too.
Great update Smile

Rookie23 · 18/02/2024 21:36

Good for you getting the house.
There’s just too much hassle with buying leasehold properties that it could end up being the biggest stress of your life.

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