Help! Two offers accepted

[catsandblooms]

Before anyone judges we've missed out on 3 houses in the last couple of months to gazumping and best and final offers so putting in two offers on two different places at once seemed like a sensible idea!

We found out Friday that both our offers have been accepted. We want to be fair and make a decision asap but we are really torn.

We are also having our first baby in July which is a big factor in what we choose.

Option 1: Very top of our budget 3 bedroom house. Doesn't need extending so quite future proof. Good garden. Needs new kitchen and bathrooms and redecorating which we would have to save up for as the sale would zap up all of our current savings.
Quiet road, in desirable London suburb with very good amenities.

Option 2: 150,000 cheaper 3 bedroom flat (maisonette). Footprint is larger than the house. In very pretty area with lots of green space but a 15 minute walk from amenities such as a supermarket etc. Needs even more work than house but we would have all the cash we need to do it very nicely. Lots of character. Busy road, small patio. Opportunity to add value and up sell in few years (less staying power)

Commute is the same from both locations.
I'm fortunate to work from home.

What would you do in our situation?

Option 1. Garden and location. And you are about to have a baby (have you factored childcare costs or loss of salary into your calculations) and I know the last thing I wanted to take on at that stage is a big project.

Option 1. Don't change kitchen and bathrooms and do basic redecorating. Everything probably works fine for two more years unless there is no heating or actually dangerous elevtrics. 15 minutes from amenities in Option 2 would be the game changer for me, against Option 2, regardless of other issues. And the small patio too!

Option 1.

The house is more future proof and has the bonus of being on a quiet road and needing less work doing to it.

Option 1 for the quieter road, future proofing, nearby amenities and sought after area

Option 1.

Option 2 will be harder to re sell (large flats generally are). High chance of noise from neighbours above (assuming lower maisonette). Busy road. Further from amenities. Less outdoor space. Not freehold, so limits on what you can do, communal areas may not be taken care of as you’d wish, and potentially high service charges.

Unless the option 1 kitchen and bathroom are literally unusable then I’d def go option 1

Option 1. No brainer.

There is a huge disparity between the two properties!

Which do you actually want to do - a stepping stone or the long term house?

Both sound reasonable options, but which of these two is right for you is really about where you are in your life, surely?

I think I have a soft spot for Option 2 because it has so much character (beautiful high ceilings, working fireplaces) and the price difference is tempting, but Option 1 does seem the most sensible choice - it's a bit of a head and heart dilemma!

1

House. Salaries go up over time.

What ate schools like? They can change, but if one house is near a lot if good schools, and other near poorer schools, it could be a factor.

Plus have you don affordability checking for house 1 based on your childcare costs after maternity leave?

We will be able to afford option 1 but will be definitely squeezed until our pay hopefully increases

Schools closer for option 1 and more options

Would go for option 1 based on the fact you have a baby on the way. We bought a house that needed work when I was pregnant. Baring in mind we have renovated about 8-10 properties before that.

BIGGEST MISTAKE EVER! Kids change everything. Suddenly there was 2. And the house is just the same 5 years later 😂

Option 1.
You will soon go through £150k. And poss need to move for schools(another lot of stamp duty. Garden

Stop thinking as a couple without children. It has to be option 1. No idea why you are even prevaricating!!

It's those high ceilings and fireplaces!

In this instance, I think head should win over heart though @catsandblooms

Option 1 without any doubt , if you can actually afford it particularly when you are on maternity leave .

Depends on what you mean by option 1 needing work - if you mean that things don't work and you'd be struggling to live there that seems like a problem. If you mean it's ugly and you'd like to replace it that's fine.

Seems super obvious to me that you'll want option 1. You'll be spending more time in your house than you used to and having a garden is priceless with a small child. And being able to nip out for milk, shorter school run, etc. I can't figure out why it's a debate.

No matter how lovely the high ceilings are, number 2 is a maisonette with a small patio on a busy road, and no amenities close by. Also, flats/maisonettes don’t always sell easily so in 2-3 years time when a garden will be handy for your child, you might be stuck there a while.

If option 1 is doable, then it’s a no-brainer really.

Option 3 - an affordable 2 bed house with garden in a good area. Don’t overstretch financially with a baby, it’ll be too stressful.

Option one, so much better for children and you may find your priorities change once baby is here and you don't want to be doing loads of work just to sell again and find something. Kids grow fast!

Do you love option 1 @catsandblooms - did you get ‘that’ feeling? If not, I’m gonna stick my neck out and say hold out until you find a house you love as much as the flat, or a flat with garden/location.

Option 1. There will always be more people who want a house than a flat. And you will always be prouder to say that you live in a house than a flat. A 15min walk to amenities when you are pushing a pram through a rainstorm is no fun at all. A maisonette with nightmare neighbours - skunk smokers? Heavy metal aficionados? Motorbike renovators? - will lose value and appeal overnight even if it has 20ft ceilings.

No brainer.

With one person working from home, a third bedroom isn't a luxury. If they have more children they'll need the room and it could mean not having to work in a communal area.