Evening all 🙂

I have a bit of a housing dilemma and am kind of using this as a sounding board to get my thoughts in order – if anyone sticks with my waffling and is also able to offer any useful advice then even better!

I had a chain all set up – buying a house that needed removating – then my buyer had to pull out. Gutted. My house went back on the market as did the one I wanted to buy. I have had a few low offers but one lady recently is getting nearer (£5k off my last offer) and also needs to complete before the end of august as she’s selling to a cash buyer. Hopefully she’ll up her offer.

All this re-jigging the figures has caused me to look hard at renovation costs etc and this, combined with me spending this weekend packing by myself, has made me rethink whether I want another ‘project’. I had forgotten how much hard work it is, and the last time I had my folks to help (who can’t now). I’m not sure want to buy this house anymore 🙁

I have seen another property for sale in the same area – £20k more but that’s what the renovations would have cost anyway. So it’ll end up being the same. Argueably the original house would then be worth more, but who knows. Am trying to view tomorrow. I am just about there with the mortgage etc on the original house. I would obviously lose my legal fees to date (for searches etc), but could I *just* move the mortgage across? Obviously I would need a new survey etc, but would I need to actually apply again with new references sought etc (this seems to have been the time consuming bit)?

And is it realistic to get this done before the end of August??!

Although the original house is back on the market is hasn’t had much interest as it does need a lot of work. I feel awful that I could be about to ruin it – ie ‘hooray, i’ve got a buyer but I don’t want to buy your house anymore’.

Any words of wisdom would be appreciated!!

say you got 15 k less on your house but you can do it by August to the original seller?

IF you heart is not in a refurb dont go for it as they take for ever and always cost more than you think

yeah you should just be able to transfare the mortage over and they change the repayments if the new house cost more, and as previously said your heart really has to be in a renovation project or else it just gets you down

I’ve been refurbing a house for over a year and only now an I seeing it come to an end. It has taken up most of my weekends and time during the week, to the detriment of other things. Mine had a lot of work though, probably £60k all in. I probably wont do one again for a while.

If you fancy renovating use the lower offer on your house to offer lower on the house that needs refurbing.

Yeah, I don’t think my hearts in it this time…

I have renovated my last three houses and were all bloody nightmares in their own right! I also started a fab new job last Monday (my reason for moving) and – although great – it’s going to be hard work. I’m just not sure I can do that alongside a refurb.

I spent this morning taking my beds apart as i’m going from rented back into the house i’m selling (temporarily obviously!) and it’s just all such hard work doing it by yourself. I know i’m going to lose money on surveys, searches etc, but I honestly don’t want to do it anymore. Moving boxes into my nice house (the one i’m selling!) I was thinking it would only take a few days and it would be all organised. Moving into the original house would be at least a year of shuffling boxes around as I got individual rooms plastered etc – i just don’t think I want to do that…..

I’m usually such a decisive person but you know when you suddenly have that sneaking feeling that you’re going down the wrong path….?

Well, decision made. Viewed the ‘other house’ this evening and it’s perfect for me – tiny and needs a bit of cosmetic tarting up, but nothing major like the first house. Need to check the figures with my mortgage broker tomorrow then will put and offer in. I *think* I can go up to the asking price of needs be (hopefully not the case but nice to know).

And then ruin someones day by not proceeding with the original house. I feel such a meanie 🙁

Thanks for the advice all 🙂

Meanie!

Ha!!! 😆