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Original poster

DD searching for first house and not finding it

35 replies

Havey · 27/09/2024 07:52

DD (single) looking to buy first property - wants a house not a flat and 2+ bedrooms as considering resale value and perhaps need to rent a room in the future.

Rightmove calculations tell her that with deposit and the mortgage she can get, she's looking for something around £180,000. For this she can get an ex Council 3 bed semi in an okay area that needs some work on the decor/ new bathroom and kitchen; a 50% co ownership 2 bed semi in a nicer area with less work needed; a one bed cluster house also in a nicer area in fairly good condition. These properties exist in very short supply but nothing she'd feel comfortable in area - wise or could imagine refurbishing due to cost of tradespeople. She's not precious about decor etc and would clean and paint etc but doesn't have funds or skills for plastering and fitting new kitchen etc.

She's asked for support / inspiration. Already involved in gifting of deposit funds to add to what she's saved so have done my financial bit!

What is she missing? What could be out there that would suit her? She doesn't want to move area so prices mentioned are what property go for in her area.

OP posts:

Spectre8 · 27/09/2024 07:55

A fat dose of reality. Either save up more or compromise on location or type of house

MrsMoastyToasty · 27/09/2024 07:56

Buy a flat as a stepping stone to getting a house.

redtrain123 · 27/09/2024 07:58

If she doesn’t want move area, then she’s stuck.

Her options her to put in a low offer on a more expensive house, buy a smaller property, get a doer-upper or wait until (and if) house prices come down. Or save a bigger deposit and/or wait until wages go up. Or move areas.

Shes got to face the reality of house buying.

Geneticsbunny · 27/09/2024 07:58

I agree. A first property is always a compromise in one way or another. She needs to work out what she can be more flexible on or she will end up not buying anywhere. Maybe it will help of she thinks that she will only be in her first place for a few years like maybe 5 and then can move on and up.

HeadNorth · 27/09/2024 08:01

My DD has just bought a 2 bedroom flat as a first time buyer - in an area she loves and wants to live in. It needs a bit of work but she budgeted for that in the price. You need to cut your cloth.

Edingril · 27/09/2024 08:04

Well unless she waves a magic wand not sure it's possible

ManhattanPopcorn · 27/09/2024 08:06

Have her watch a few episodes of location location. It's the same issue every time. People don't have the budget for what they want and they don't adapt. She needs to get real and widen her search to include other areas and/or flats.

KievLoverTwo · 27/09/2024 08:15

The only option I can think of other than those already mentioned is to up it to a 3 bed and buy with a friend.

If she chooses this route she ought to make sure her solicitor has a watertight agreement re: what happens if one party wants to sell up or move a partner in.

Nourishinghandcream · 27/09/2024 08:16

As above, she needs to compromise or come up with more money.

This is nothing new.
When I first put my foot on the property ladder I had to move 20-miles away and buy a tatty doer-upper in a horrible area.
It worked though, with the help of my parents I learnt a lot about decorating, made it tidy & cosy and 3-years later managed to move having made a tidy profit.

TiramisuThief · 27/09/2024 08:20

There's no miracles in house buying. She wants a house. Her budget only stretches to certain places. That's the reality.

If she can only bring herself to buy in a bougie area, then she gets a 1 bed flat.

LindaDawn · 27/09/2024 08:44

Think it’s very sensible to try for a house rather than a flat and 2 bedrooms rather than a flat but the reality is very different. I think,her best option is to save more to get the right area and size of home. Can she get a 2nd job to help. Helped our children but their 1st home on their own was a 1 bedroom flat although they wanted a 2 bedroom place. Just couldn’t do it on the budget in the the South East.

clarrylove · 27/09/2024 08:48

2 bed terrace in a less desirable area?

WhereIsMyLight · 27/09/2024 08:51

She does what any first time buyer does, she compromises, saves and does the house up slowly. She might not be able to get the house as she wants it until she’s paid some capital off in about 5 years and can remortgage. So she picks between not having it how she wants or she goes for a flat that needs less work.

ButterAsADip · 27/09/2024 08:51

My friend was like this recently. Can’t have a flat as doesn’t want to share entryway, can’t have a terrace as neighbours too close, needs 3 bedrooms for 2 of them, needs a garden as she likes gardening, can’t move areas as just doesn’t want to. Way too fussy. Buy what you can then sell after a few years - aka a stepping stone.

As for ‘doesn’t have the skills to X Y Z’ - well, no one does until they do.

Good luck to her!

Alicana · 27/09/2024 08:55

I would get a flat. Flats tend to be in more popular areas, closer to amenities. She’s young, better for her to be in a more thriving area than stuck in the suburbs. She’ll have more luck renting to someone of a similar age with a flat too. People always want flats, I wouldn’t worry about the resale, 2-bed houses might be more difficult to sell as too suburban for young couples and too small for young families.

BananaGrapeMelon · 27/09/2024 08:56

Personally I'd get a flat rather than compromise on area.

Original poster

Havey · 27/09/2024 09:10

Of course, you're all right. She has to compromise - cut her cloth - she can't have it all unless she gets really lucky and that's not seeming likely

Had hoped there'd be BTL landlords selling off their portfolios but not seen any evidence of this

OP posts:

Seaside3 · 27/09/2024 09:25

Why does she not want to move areas? My son bought (then aged 22) a 2 bed mid terrace i in an area he wasn't very familiar with.
It's really cute, and only £600 pcm for his mortgage. My other son now lives there so they share rent.
Son 1 realised it was better to own than rent, cheaper and more stable, so he was prepared to look in places he wasn't as familiar with. He's 20 minutes down the road, so we see him regularly. He often has friends to stay ( 2 reception rooms), and has been doing it up slowly.
We all now like the area he's moved to, and visit regularly for local events.
I think it's partly your daughter has to cut her cloth, and partly that she needs ti be open to different areas.

ifonly4 · 27/09/2024 11:29

Be realistic would what she can actually get for her money and what's most important, area/size of property/renting a room.

I knew I couldn't afford a better area, so accepted that. Ideally I wanted a small two bed house, but they were up doer uppers. Ended up with a modern flat, off a busy main road and edge of Council estate - actually felt really safe there and it was quiet around the back of the building. Mind you, ended up with more than I bargained for - I met my future husband who lived upstairs!

TheYearOfSmallThings · 27/09/2024 11:38

Everyone wants everything, and feels pressure to get it cunningly for the lowest price, and be smart and play the market and avoid all the pitfalls and buy low and sell high...but in reality the worst mistake I've seen people make is not settling for what they can afford. You compromise on location or size or condition or type of property, and you take the plunge.

SapphireOpal · 27/09/2024 11:42

What area is she looking in?

KnittedCardi · 27/09/2024 12:12

Location trumps everything. So on her budget what can she afford in the best location? If that is a one bedroom flat, then so be it. Invest and move in a couple of years time.

DD has just bought a flat in London. Location was really important. So she has a small one bedroom, very expensive, top ic her budget, but lovely preferred location. She has her own front door as it is a converted Victorian mansion and has multiple entrances for the various flats. It's also a mixed flat, so small, medium and penthouses.

pinkdelight · 27/09/2024 12:17

Does the ex-council house really need a new kitchen or can she live with it a while and do it up gradually. That's what the vast majority of people have to do. They don't get everything they want from the off and it's part of the journey to transform it over time. As long as there's some kind of kitchen, she'll be fine.

Spectre8 · 27/09/2024 12:22

pinkdelight · 27/09/2024 12:17

Exactly. I don't like my kitchen, not my style but it was only 2yrs old...12yrs later still haven't changeed it haha mostly because its still in good condition so might aswell make it last and seemed better to use the monwy to pay down mortgage. It is starting to show signs of wear and tear so in the next few years ill save up and get it done. Tbh not having the kitchen I'd like hasn't bothered me that much.

I guess it depends on how bad the kitchen is in the first.place

Twiglets1 · 27/09/2024 12:40

She can only get what she can afford - same as everyone else.

My daughter also wanted a 2 bed in a specific area but had to compromise on a 1 bed as that was all she could afford even with us helping with a deposit. Being single makes it very hard to be able to afford to buy a property so I guess they are both lucky to have family help which makes it doable.

In her shoes I would pick the one bed cluster house as she doesn't need 2 bedrooms and if she does in future she will hopefully have a partner by then to help her buy a bigger place.

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