I have to say the one thing that really annoys me about buying houses (we moved in the summer) is the fact one has very little time to view the house properly and inspect it thoroughly before buying.
We paid for a survey and it wasn’t as thorough as I would have liked it, it covered off the structural aspects, but there have been so many other small to medium things we’ve found that we need to spend money on because they’ve either been left for years or because the previous people bodged something. None of this was picked up on the survey even though we paid for a level 3.
The problem is when one buys a house they are buying the house’s radiators, shower, oven, TV aerial, paving, plumbing, fencing etc etc. and they have no idea whether all that stuff is in working order or how well it works at all.
It really does leave a bitter taste to have to spend money and time sorting unexpected things that should have been sorted by the previous people. So annoying and it sort of takes over life a bit. Is this a big reason why you don’t like the house so much anymore?
Is there much more still to do?
We saw an immaculate fairly new, move straight into and do no maintenance for years house the same weekend as we saw the one we bought which needs loads doing do it, but the other house was on a new build estate with road noise. The reason we bought this one was the location and position. There are times when I think if we had bought the other we could be out enjoying life right now rather than sorting the house but in the long term a good location is always the best thing and the best investment.
You can change layouts, bathrooms, kitchens, decor but you can never move a house. That’s why I think a money pit is not a bad investment, spending a lot on an immaculate house that will loose value over time because of its location is a much worse investment.
In other words I think you’ve used your inheritance very wisely and you’ve added to it by adding value to the house.