Hi all, name changed for this as probably a touch outing.
Currently trying to decide between 2 houses in a fairly stagnant Canadian market, we are desperate to get out of our very expensive rental but have a limited budget as new residents with minimal Canadian credit history (we’re both English expats, plenty of cash flow but not much borrowing power).
Just the 2 of us but might like a baby in the next year or two.
House A is currently under offer to someone else but we’ve had a heads up that it may fall through due to financing. Offers here are binding once accepted (subject to financing) so once we make a decision we can’t pull out.
House A: 50s detached bungalow, “5 beds” but really a 3 bed with 2 additional basement rooms. Popular area close to good schools (which we don’t need just yet) but a fair walk from town centre.
Pros
- 2 car driveway
- large, private rear garden
- Quiet, family friendly area with good resale potential if we decide to head back home
- French doors to deck and garden
- 3 good sized rooms in converted basement with decent headroom (husband will use one as a music room and one as a workshop space)
Cons
- Original 50s kitchen and all appliances will need to be replaced
- 1 main floor open plan reception room/kitchen combo, no separate living space.
- No porch/boot room, front door opens straight into living space. Bear in mind we have long winters here that get to between -20 and -40C!
- All stair rails, architrave and skirting missing on stairs and in basement
- 20-30k pricier than House B, realtor thinks it’s overpriced by about 20k but owner very fixed on the price
House B: Edwardian detached 2 story (minimal period features remaining), 3 beds plus office room and finished basement in a good area surrounded by similar properties, easy walk to town and friends. 5-10 mins to primary schools by car.
Pros
- Good sized enclosed porch/boot room leading to a spacious hallway with good storage
- Large living/dining room with separate (new) kitchen with good quality appliances (included in purchase price)
- Possibility of adding a garage and a main floor WC which would improve resale value
Cons
- No driveway, though has parking spaces at rear of house accessed via an alley (standard in this part of town)
- Smallish garden, especially once the parking spaces are taken into consideration
- Small, grotty upstairs bathroom (but located right next to the small office space so potential to expand and create a grand family bathroom in time)
- Smaller basement with less headroom than house A (fine for me, husband has to duck at the threshold but can stand up once he’s in the room itself). Room is large enough for our purposes and has a small adjoining workspace.
Writing this down my gut feeling is B is the better buy but would love some unbiased opinions.