Help me choose a house! Urgent!

[Chesthairlikekingkong]

We are downsizing for financial reasons, two young children, pets who need an outdoor space (so not most flats). We cannot borrow anymore due to financial commitments, and the bank won't let us.
We have to live in an expensive area for work and school.
A three bed semi with garden in a nice area is just not gunna pop up, even in a shit part of this area, they just don't come up.
I have to get a move on as we are at risk of losing our buyers. We have been waiting for something perfect but have come to the realisation that perfect doesn't exist on our budget.
Option 1:
Bungalow with two beds and a loft space. It's basically a half completed renovation. In our dream area. Very Small bedrooms and weird layout, which could be changed if we could bash down a room. Quiet road and nice residential street. Back garden is small but workable and pretty outlook. Unlikely to be able to extend.
We would be able to save a lot on mortgage payments but would have to spend on ongoing building work. I am not practical so this will have to be outsourced.

Option 2: sprawling three bed in crap area. Not rough but soulless. Not near anything except a run down corner shop. 20 minutes drive to school and work (we can walk from option 1 to both) crap buses for DP. HOWEVER! Huge rooms and garden. Nice decor. Good street, very quiet and pro social neighbours. Lovely outbuildings and annex thing which will be useful for guests.

Help, which one? Or neither?

I think definitely option 1. Option 2 is really unattractive and ugly, and I think it would cost you a lot to improve it. I wouldn't want to live in a house that looked so depressing from the front.

I'm no building expert, but option 1 raises a few alarm bells from the description as others have pointed out.
We've recently had our loft converted and there were numerous things the building inspector had to see in order to get it signed off as an 'official' additional bedroom. One was the level of insulation and as they've already plastered over it, I'm not sure how you'd prove what's under the plaster without tearing part down. Also it's likely that the uninsulated/unplastered parts would need doing.
Also the floor joists. Sorting someones bodged jobs can end up being more expensive/ more hassle than starting from scratch!

If you are very cost- conscious (that's why you're moving) you might want to check the annex - it may have its own council tax band, as they have to if they can be lived in separately from main house. Whether or not you have to pay it is down to your local authority.

definitely Option 1. put in the offer and then get a FULL SURVEY asap. make sure you attend the property with the surveyor.

If the report comes up OK and building regs are in place, you've got a house with great potential which only needs a little bit of finishing off.

And location is always the most important thing to go for.

I agree with others, option 2 is fairly ugly. However, option 1 is worse. The description has so many red flags...get a level 3 survey and probably have a good structural engineer on standby. Knowing nothing about the area, is option 1 valued as if it was a 3 bed or a 2 bed? Because right now for all intents and purposes it's a 2 bed. And your bank will value it as such.

Option 1. I made the mistake once of option 2. Your children have to grow up there.

The area for option 2 is also more green. The housing is less dense. That might be consideration in terms of air quality etc

I actually prefer it.

Also check both on gov.uk website under 'check my council tax band' and if there is an i'mprovement indicator' the band will be reviewed after you buy and may well go up if the current owners have increased the size, eg loft extension.

Estate agents should know this but they either don't or don't bother to point it out.

What about these?
www.rightmove.co.uk/properties/126731087#/?channel=RES_BUY

www.rightmove.co.uk/properties/130555985#/?channel=RES_BUY

I wouldn't buy either of the ones you linked op: 1 is too small and 2 is too souless

From a quick glance option 1 as the location sounds better & its £20k less than 2 which you could presumably put straight into the loft reno? But there's no floor plan so if that's odd and it actually would still be cramped even after the loft's done then option 2 might be better

Its a 5 min walk to your little local parade of shops, theres a tesco, pub, chippy etc. I know its not the same as being in a buzzy area but you're not completely isolated

Option 1 - then I’d knock down the detached garage and extend the house that way

Option 1. It’s called location, location, location for a reason. Easier to add value and move in future.

Even before I clicked the links, 1. Having seen the links? 1, 1, 1.

Location + ease of school run/commute over space, every damn time.

www.rightmove.co.uk/properties/130382636

Option 2 but you’ll need to do a fair bit of decorating and you’ll have a spring/summer project on with the garden but space wise def, when kids are smaller space isn’t much of an issue but as they get bigger it definitely becomes more important. The outside needs a good clean and paint and the garden tidying up, it’s all cosmetic and will make it look a huge amount better straightaway. I’m in ex council, have been for years, ex councils don’t rarely have much kerb appeal but they make up for that by being big, solid and we can’t hear next door as the walls are solid.

I used to live in bristol, definitely the fishponds one, the second one is just soulless and not central enough it would just be a faff living there!

@LordSugarTits that one's got loads of interest and is likely to go for way over asking price

Ah ok

I would probably rent until we found a house suitable. However if choosing between the two then option 1, but I would check the work carried out has been properly done and up to date with building regs etc. Looks to be in relatively final stages, why are the owners leaving it unfinished? Did it need planning permission and is that in place? It could be that they ran out of money, couldn't afford mortgage etc etc. but also could be that it all went tits up x

@Exibstudent I don't want to live in kingswood, I grew up there

Neither.
Bungalow sounds too small.
Other is in the wrong area.

www.rightmove.co.uk/properties/130555985#/?channel=RES_BUY

Looking at the sales history of both, house 2 seems a better, long term option. House 1 has been sold a few times in recent years which says to me the area is an issue, even if it's just locality.
I do prefer house 1 but house 2 does have much better space and is closer to things, which with growing kids, will be better in the long run.

might be best as a pp said to rent for 12 months and keep looking rather than rush into buying

www.rightmove.co.uk/properties/127143260