Jul 2017
4:54pm, 28 Jul 2017
18,302 posts
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Meglet
Fair enough. There's generally a compromise somewhere you just have to decide whether its location, space, condition etc
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Jul 2017
5:35pm, 28 Jul 2017
6,248 posts
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Too Much Water
I know 2 bedrooms isn't huge, I live in a 2 bedroom Victorian terrace myself. Agree with Meglet that I wouldn't fancy such a project myself for much the same reasons, indeed our next place will be a super modern flat near the City which is worlds apart from our current abode.
My concern was the scale of the work needed looked to be more structural than cosmetic, and might prevent habitation whilst the work is being done, as well as requiring time and money (or the specialist skills to do yourself) which you say are in short supply. New damp courses can be quite expensive I believe.
In this situation to maximise your own personal affordability for such a project I would try and grow my top line (lodger / bigger salary) as from your posts you seem to have your costs as lean as is possible.
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Jul 2017
5:57pm, 28 Jul 2017
5,264 posts
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Wobbling
RS you may struggle to get a mortgage on a property that needs a lot of work, or the survey may suggest a lower price. And a mortgage company would make you pay upfront for the survey or homebuyers report. We spent more than £1k on fees and a survey last summer for a property we then didn't buy. The survey was necesssry because it was a converted property and the mortgage company wanted assurances it was sound. As it was the building was structually perfect but the chain above collapsed so we had to buy somewhere else. And then pay out for another homebuyers report and associated lender fees.
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Jul 2017
8:30pm, 28 Jul 2017
20,160 posts
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Red Squirrel
Thanks folks. Yes I think the price is high for what condition it may be in (I'll see next week).
Bigger salary - interesting. I'm covering my boss's job (and mine) as he has left. Unofficially of course as the work needs doing and I can't let people down. They have now requested his role be upgraded so it's 2 levels above me. Doubt I'd get it tho'. I'm looking at getting a lodger at some point, depending on it being comfortable and safe at some point!
A few of my friends have had surveys and then not bought. I am prepared for that.
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Aug 2017
11:24pm, 4 Aug 2017
20,187 posts
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Red Squirrel
My flat seems to be progressing quite quickly to completion. I haven't found anywhere to buy and have arranged storage of stuff + somewhere to rent with a friend. Looked at a place tonight which needs lots of work but less then the leaking house. Unfortunately it was a really weird layout which could not be cheaply rectified. It felt very unloved to the point of being a bit creepy and claustrophobic. Shame. I could've afforded this one.
It's got to be right though and the last 2 just weren't.
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Aug 2017
11:33pm, 4 Aug 2017
18,326 posts
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Meglet
You're right to hold out for the right place. Somewhere you get the right feeling for.
I'm away but have left a key with the agents and there's a viewing tomorrow (today now). Which at least makes the tidying/cleaning before I left worthwhile.
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Aug 2017
8:39am, 5 Aug 2017
32,555 posts
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.B.
We rented for a couple of months before we bought this place. It was worth it to get the sale through and not risk losing it. Another positve is that you then have no chain so more attractive to sellers.
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Aug 2017
9:48am, 5 Aug 2017
5,623 posts
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XB
No chain does make for a much easier move. Our buyers were renting and we bought our house from m-i-l who had already moved into her new home; couldn't have been easier.
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Aug 2017
8:22am, 12 Aug 2017
18,351 posts
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Meglet
Yesterday when I cam home I put a 4-pint milk bottle on the hall table. The bottom was wonky and it fell off and burst Have a viewer today
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Aug 2017
8:46am, 12 Aug 2017
23,742 posts
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halfpint
I bought my first home 20 months ago. I wanted something with a bit of character and bought based on the house feeling right (as well as being in good location etc).
The house was in livable condition but every room needed redecorated. So far I have replaced the garage roof, put in a biomass boiler and decorated all 3 bedrooms. I've probably spent a small fortune and god knows how many hours. There's been nothing major but previous owner did half assed job of everything so lots to put right. Next step is living room, then hallway and finally, once I've saved some money, a new kitchen.
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