Soldato
I can accept that, love Wales. If myself and the missus get told we can WFH forever, it is exactly the kid of move we would consider.
Buying first house
- Thread starter youdsy
- Start date
I can accept that, love Wales. If myself and the missus get told we can WFH forever, it is exactly the kid of move we would consider.
It's quite simple isn't maths isn't it?
Draw up a budget for a big place, factoring in how much the outgoings will be, interest rates, upkeep, etc.
Then do the same for a smaller place, but factor in how much you could save every month, how much interest that'd earn, upkeep costs, etc.
Then look at the price difference every month and see if that money would earn you more in the value of the larger property increasing or in a savings account, and use that as your baseline.
There are loads of variables at play here however and this equation could be as simple or as complicated as you want to make it but it's at least give you a starting point to find out which is the better option
Draw up a budget for a big place, factoring in how much the outgoings will be, interest rates, upkeep, etc.
Then do the same for a smaller place, but factor in how much you could save every month, how much interest that'd earn, upkeep costs, etc.
Then look at the price difference every month and see if that money would earn you more in the value of the larger property increasing or in a savings account, and use that as your baseline.
There are loads of variables at play here however and this equation could be as simple or as complicated as you want to make it but it's at least give you a starting point to find out which is the better option
Soldato
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Lovely house. You could stay there forever- even if you had four kids you'd have space for them.
Moving is a massive pain in the bum, so you will save money and hassle if you stay in it, rather than moving in a few years.
Get a proper survey done. It's an old house, so there might be problems you can't see. Also, gives you bargaining chips...
Caporegime
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The house looks like it's right on top of a main road.
The rooms are also tiny.
Several of the bedrooms are like 10 foot by 7 foot or slightly larger
It's not a proper 5 bedroom house in my eyes.
I mean at 10 foot by 7 foot once you get a double bed in there what else is there space for? Nothing. So a single bed in 3 of the bedrooms or 2 at a push. Fair enough 2 of the bedrooms look a decent size and respectable for a 5 bedroom detached home but 3 of them aren't.
Id say it's the size of a decent 3 bed house. Id make the smallest bedroom an office.
The other 2 I'd knock down the wall if possible and make it larger. So essentially 3 large bedrooms and a small office upstairs.
The location though with zero front garden or space you will hear everything on the road. Unless it's a quiet area.
It's also Wales and not near a major city as far as I can see.
Therefore even at £250k I would never buy it.
Get a decent sized 3 bed detached home with space around it for your first home.
The rooms are also tiny.
Several of the bedrooms are like 10 foot by 7 foot or slightly larger
It's not a proper 5 bedroom house in my eyes.
I mean at 10 foot by 7 foot once you get a double bed in there what else is there space for? Nothing. So a single bed in 3 of the bedrooms or 2 at a push. Fair enough 2 of the bedrooms look a decent size and respectable for a 5 bedroom detached home but 3 of them aren't.
Id say it's the size of a decent 3 bed house. Id make the smallest bedroom an office.
The other 2 I'd knock down the wall if possible and make it larger. So essentially 3 large bedrooms and a small office upstairs.
The location though with zero front garden or space you will hear everything on the road. Unless it's a quiet area.
It's also Wales and not near a major city as far as I can see.
Therefore even at £250k I would never buy it.
Get a decent sized 3 bed detached home with space around it for your first home.
Caporegime
You're British ofc u need to buy a house and pray that it increases in value....
ooooooooooooooh snnnnnnaaaaaaaaaappppp!
That house at that price is somewhere for you to retire and die in. Probably gift to your kids ten years before so they can buy a 1 bedsit flat in "insert city here"
ooooooooooooooh snnnnnnaaaaaaaaaappppp!
That house at that price is somewhere for you to retire and die in. Probably gift to your kids ten years before so they can buy a 1 bedsit flat in "insert city here"
Soldato
I'm looking at buying a house with my partner currently and it's amazing how many houses have a master bedroom with 3-5 tiny bedrooms, I'm guessing it's because a 5 bedroom house sounds a lot more appealing to a lot of people than a 3 bedroom with 3 useable bedrooms.
Caporegime
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Yeah it's a marketing gimmick.
I've seen people label garage conversion or second living rooms as bedrooms to try and turn a 3 bed into a 4 bed, etc.
It must work otherwise what is the point?
My mate just bought a large home and it's only 3 bedroom and I was shocked.
He then told me it was actually a 4 bed but it was a single divorced woman who had it before so she turned 2 of the bedrooms into a larger one. So it was a 4 bedroom house with a double garage.
4 bedrooms became three very large bedrooms.
Double garage became single garage and the other half is now a usable room downstairs.
Plus a large sun room extension at the back.
So his 3 bedroom house is literally double the size of any other 3 bedroom house in the area.
You have to look at floorspace in terms of square metres overall and not just look at how many bedrooms it has.
I'm willing to bet his 3 bedroom is overall including outside space at least double the size of the 5 bedroom linked if not 3 times the size.
I viewed roughly 30 properties before I bought in person and hundreds just on pictures if not thousands.
Pictures can be very deceiving you really do need to see a property in person. So I started viewing properties I had no intention of buying just to see what they were truly like and wow I'm glad I did. Some of the rooms as soon as you walked into the supposed third bedroom you couldn't even stretch your arms out. Master bedroom the en suite was ting and cramped and you would struggle to wash yourself properly in the shower without your elbows hitting the sides.
It's why I ruled out a lot of the smaller 3 bed detached houses as I didn't see them as 3 bed but 2 bed with an office space at best for the third.
For me if you want to label a room as a bedroom it has to fit a double bed. Plus either have a fitted wardrobe or space for a double wardrobe too as well as some other furniture like drawers and bedside tables, etc.
If all you can fit is a bed and nothing else then it's not a bedroom
Soldato
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Mates of mine who mortgaged to the hilt many years back are actually in a better financial position than I am now. I was sensible and only did what was affordable and am about to be mortgage free.
However, I don't think past rates of appreciation are sustainable now. The middle-aged generation have been extremely lucky with the boom in the property market. I mean, it's still probably going up, just not in such ridiculous proportions.
However, I don't think past rates of appreciation are sustainable now. The middle-aged generation have been extremely lucky with the boom in the property market. I mean, it's still probably going up, just not in such ridiculous proportions.
Caporegime
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So when I have people stay over they have somewhere to sleep.
Also the bigger the bed the better. Sure a single bed is okay up until you are a teenager. However a double bed is always going to be better.
I just upgraded to a king size John Ryan and wish I'd done it sooner. I couldn't go back to a double now.
Caporegime
We've got 7/5 bedrooms (7 rooms that can be used as bedrooms but only 5 are officially bedrooms as the other 2 don't have escapable windows), 5 are doubles. 3 have been occupied at once but we only moved in just before lockdown. It's great for having loads of family or friends over.
Caporegime
Having loads of bedrooms and having them all occupied by guests is my idea of the seventh circle of hell.
It would usually be mine but its tolerable for short periods
Caporegime
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Having loads of bedrooms and having them all occupied by guests is my idea of the seventh circle of hell.
Obviously don't have any friends or family.
The best times I've had is staying over at family and friends and when they stay with us.
The best was when we rented a large 5 bedroom house in Vancouver Canada for a wedding. It also had a large basement downstairs which we filled with air mattresses and sleeping bags.
I can't remember how many of us stayed in that house altogether but it was probably around the 20 mark. we had several parties, functions, poker games, etc. Dancing, drinking, food. It was an absolutely brilliant 2 weeks.
It helps if you aren't white though Asians tend to have much better relationships with their families. Whereas I have noticed British people literally see siblings and children as burdens to be shot off as soon as possible.
Caporegime
Caporegime
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How is that racist. Culturally Asians live with extended family. Here it's extremely rare and people are even ridiculed for living with their parents into their thirties and forties.
Here kids are turfed out as soon as they start working.
Even had a colleague at work saying how she couldn't wait til her daughter moved out. I asked what age she was and shocked when I heard she was only 16 and her mother wanted her gone asap.
British people = white people?
Caporegime
Its racist because you made a negative generalisation about an entire race of people based on your limited experiences.