How f**ked will we be, part 2.

[Frazzled252]

Hello lovelies,

DH and I are currently in a state, after having a new build nightmare and moving while trying to do IVF.
To sum up in brief, we bought a house for 765k plus stamp duty in wixams. There has been issues with the house, and Wixams is dystopian and the lack of character has made me depressed. After back and forth from the developer they’ve agreed to refund us plus costs to the tune of around 850K.
We have seen a house in Leighton Buzzard that we like but it is another new build that we would get a survey on. However this newbuild has management fees (fleecehold) and is also more expensive (over 900k) - we’d have to use the remainder of our savings, and would then be tapped out.

I am currently in the middle of IVF and feel lost. The houses are crazily expensive and I also feel that I may be making a mistake leaving Wixams, as universal may shoot the house prices up. I just want to stop the world and get off.

any advice from the sisterhood would be so massively appreciated. Should we go for the fleecehold, just rent and see, …I dunno. Im
hoping to be pregnant soon so
wpuld rather be in a home than renting.

I wouldn't buy a leasehold house, ever. I have no idea about Wixams. Hadn't heard of it until your previous post.

Why does the word "fucked" contain two asterisks in your thread title?

Don’t buy a leasehold as the management fees can change. I would take the refund and rent for a while whilst you decide what to do next. The right home will come along and hopefully the market will get better too. Good luck OP!

I'd far rather live in Leighton Buzzard than Wixams.

Do you have to spend so much if you do move? If you're going to have a baby fairly soon, you'll need money. Childcare is very, very expensive.

@Frazzled252 Sit tight do one thing before the other but don't try to do both at the same time.
Good luck

I wouldn't buy anything with management fees. Absolutely no way.

Why are you still looking at new builds, after your experience? Why don't you just buy a nice solid older house? And why are you spending so much money when it worries you, do you have masses of children to house?

I would not buy a fleecehold new build - and I prob wouldn't go as high as 900k if it would wipe out your savings while going through IVF.
Also understand not wanting to rent - an awful lot of hassle renting these days.
I would look for houses advertised with no chain, in all the various areas I was considering. Then plump for my favourite, put in an offer on the proviso we have to complete by X date. Shouldn't be a problem with no chain, but also have a plan B - be prepared to move stuff into storage & grab an AirBNB if it is delayed.
For example, this is advertised in Leighton Buzzard https://www.rightmove.co.uk/properties/166316195#/?channel=RES_BUY
New builds tend to have much smaller rooms & tiny gardens - you see a gorgeously kitted out show home, then when you move in you find there's no space for your stuff. We've got new builds on sale on our road, and they're going for the same price as my much larger (but much older!) house. They squeeze a lot into a small footprint.

Definite no to a fleece hold. I'd be worried about the inevitable increases and probable resale difficulties.

I live in Leighton Buzzard and I can’t for the life of me understand why you would plough that amount of money into a new build when you could get a lovely older house in the area for that money.

Thank you! I think we need to definitely have a back up plan. Will have a look at that house, I have been looking at older houses in LB but haven’t seen that one.

I don't know LB or Wixams at all so can't advise on that but presumably you know both, having lived in the area. What I really wouldn't do is rush into buying something else immediately if you feel unsure about it, having already made a mistake first time around. It's also very expensive for a new build and, as you know, some of them are terrible quality. You are probably feeling very hormonal and emotional at present, not the best state to make the best decision. What does your DH think? Why can't you take the money and rent for a while?

You have a huge budget and could afford something lovely and non new buildy in Ampthill - perhaps a compromise as it’s not too far from Wixams but has a million times more character/things going on? I would choose Ampthill over Leighton Buzzard no question!