Withdrawing accepted formal offer to put offer in elsewhere?

[ScorchedGrass]

Just that really? I have a formal offer that has been accepted on a 4 bedroom house, but I saw a 3 bedroom house, went to view it and got a good feeling about it. The 4 bedroom I have a feeling it may become a money pit and feels like too big a project for me (I am a single parent to two sons). I am worried about finances and of course the 3 bedroom is cheaper, but not by much.

The 3 bedroom is right next to an area of high deprivation and is currently offers over 148k, which is 12k under the mortgage valuation. I don't know if this is just to gain a quick sale.

I don't know if removing my accepted formal offer is stupid and whether it is more driven by fear.

How much cheaper is it? Because it doesn't sound like the 3 bed is the better option based on what you've said.

We've passed on a recently renovated 4 bed house at a bargain price because of the area. Long term, that would become an issue for us and DC's independence.