Silvafox

iTrader: (1)

Just after some third party opinions on this. My girlfriend and have our own house which we only bought 6 months ago near Nottingham. We both wanted to live in one of the nearby villages but the house prices dictate that you don't get as much for your money. However, a house has come up in our price range in the village but the house is a lot smaller and basically not as nice as ours, as ours is a new build. What would you do? Stay where we are and always look for the next house or move into the other house and have the ideal location rather than the ideal house?! I'm thinking about the latter....any opinions would be good for us as we are that wrapped up in our 'own world' its sometimes good to hear others views.

Hanslow

How long are you planning on staying there?

Me and the missus are still looking for an acceptable house in an ideal location but haven't found anything in our price range for the past year We're currently on the outskirts of Nottingham, but looking for a house in a village between Notts and Leicester. Given that we are planning to stay there for the next 10-20 years, i.e. will be our proper family home, we want the right house with little compromise. If the house hasn't got certain features, there must be scope to add them at a later date.

I'd personally like an older house rather than a new build, but you have to sit down and think what you really want. If you like the house, or think it has potential, then weigh up the moving costs, refurbishing, etc. and then ask yourself if you think it's worth it given the size. You can always declutter and get rid of loads of crap you never use and still have ample room.

David Lock

Unfair question really as so much depends on your own prospects. An obvious comment is that it's going to cost say £10-£20k at a guess just to move. My gut feeling is that if you move into a less attractive house you'll regret it. Why not be patient and wait until you can afford an equal or better house in the village location? Not sure that "new build" houses are necessarily better though. DL

Brendan Hughes

As with DL (thank heavens I don't have to apologise for agreeing with PSL!). Took me a year to find my first house in Surrey as I was fussy, and took me two years to get the one here. With both I have absolutely no regrets whatsoever, the wait was well worth it. And considering I pulled out of a house sale for 470 000 to buy a wreck that would need to be gutted, and finally bought my current one for 405 000 in near-perfect condition further up the hill with a better view, I'm laughing all the way to the mortgage application!

Kieran_Burns

iTrader: (1)

We're looking at moving to a Detached property now we're sick of the noise from the people next door (not altogether their fault) and know that we need to go for a smaller property as we've only been in this house for a year...

What we've realised is that you need to look for somewhere that can expand... so if you need to move to a smaller property, fine... but look for somewhere that can be added to (so check planning permission) which means you need somewhere with a big garden in the right place for an extension, or a place with the possibility of a loft conversion.

Oh, we're in Hilton - and the whole move process cost less than 10K (including all the extras being fitted to a new house including carpets throughout)

ProperCharlie

Well here is my anecdotal "evidence":

when we were house hunting 2 years ago, one of the agents phoned up and gave me a big speil about this place he had just been instructed on, how I would "love it", etc etc. I got the address and found it on a map. I told him that it wasn't in the area that I wanted and I wouldn't bother got to see it. He went on and on about it, I eventually agreed to see it if he could arrange a viewing for next sunday, which he did. More or less as soon as we walked in the door we decided to buy it. I was worried about the comparative "roughness" of the area, but thus far we have had no problems whatsoever. Nice neighbours, friendly local shops and so forth. So we chose house over location and it seems to have worked out.

OllyK

The advantage of picking a good house in a "poor" area, is there is a chance of urban re-generation which will improve the area and increase the value of the property more rapidly than the surrounding areas. My parents did very well over the years at getting this right.

I have just moved from a 2 bed semi to a 3 bed detached with a 50 yard back garden. The new house cost less than the old. It needs some renovation and is in an area that needs some money spending (an old mining town) but is starting to get the influx of cash - fingers crossed!

ProperCharlie

It is generally reckoned that the "best" areas lose the least in times of price deflation, and recover the quickest when the market starts to pick up. As I can't afford to live anywhere near the "best" areas in London, this didn't worry me unduly.

Silvafox

iTrader: (1)

Cheers for all your input. I'm going to look at the house in my preferred area tonight so at least I can make an informed decision. Whats bugging me is that I live a new detached with garage etc etc in an area that has recently been given a new lease of life with trams and 24 hour supermarkets etc so I have seen a healthy growth in prices. The house I'm going to look at costs the same but is a semi and is about 15 years older but needs no work so fee like I'm going backwards....but its in the village I want to end up in.

Brendan Hughes

Oh, I might not have answered your question - I'd always choose location over house. The house you can change (more or less), the location you can't. Friend in Brussels bought a massive town house as it was so cheap, has spent a fortune gutting it and re-doing it, it'll be a palace inside - but as he says, every day he steps out of the front door to go to work and there is litter, old cars, and dodgy-looking immigrants.

You might get lucky / do your homework as above and buy cheap then the area improves. And you might not...

OllyK

That about covers it. Expect to pay more to live in a village, if it's a nice village expect to pay way more.

2 Bed Semi in Loughborough - circa £120K
Put the same house in one of the Wolds villages less than 6 miles away and you can drop £60K plus on to that price.

That's the price you pay for rural living.

Senior_AP

Towns are dirt.

Villages are (generally) nice.

Cyberevo

iTrader: (1)

Depends on the village, there are some nice and not so nice viallages around Nottingham.

We (wife and I) purchased a new 6 bed detached house in Warwick (sold a 4 bed single garage new build in Derby to move back home), it's a three story monster and I don't even go up to the third floor. The only reason we brought it was because we got a good deal and within the year we have made a between £75k - £125k on it. We are selling up and moving into the countryside, I'll get a smaller house on a bigger plot.

New builds are ****, we have had over 400 snags with our and the builder, sorry, project managment company we purchased it off are still fixing things almost a year down the line.

Can't beat living in a village as long as it's close to nearby links.

pslewis

Location, Location and Location is the old and well used saying ...

But the old things turn out true EVERYTIME .....

If the property is in the right place then you cannot lose ..

Pete

daisyinthemids

i think with prices these days there can be a compromise between house/location. Definitely a strong argument for buying in 'up and coming areas. My area in birmingham is really smartening up and is becoming the next 'trendy place to buy'.
Not only is the physical area getting better - more decent bars and restaurants, ill make a decent return when i do eventually sell :-)

But, take a good look at the street, could you be happy in the street or does it look dirty and unkempt? Same with your neighbours - I once bought a house in a decent area but ended up with neighbours from hell - I should have figured that one out by taking a good look at their house before i signed on the dotted line!!!

ps I wouldnt look to buy right now. If you buy now, you're paying top price in a premium area - not a good idea the way the market is right now good luck!!!

P1Fanatic

Ive seen those 6 bed 3 storey hourses when looking around new developments. The ones near us were £500k + I believe. Me and the girlfriend were always wondering why anyone would pay that for a house thats in the same location as 2 bed terraces etc. The gardens are pitiful. A lot better ways to spend half a mill on a house.

Simon.

P.S. Im not saying yours is the same - just whats its like around here.

Cyberevo

iTrader: (1)

Your right the gardens are pittifull, luck for me that all the ones in my road are 4,5 or 6 deb, no semis thrown in. I can't imagine making a £100k in a year if we brought a smaller house.

PPPMAT

Hi Simon

If you're looking at where I *think* your looking at then it is mighty tempting. However, if you'e moving to a smaller house or even one of similar size then you have to think about how long you will stay there before you get itchy feet and want a larger pad. Moving house (as you will know) costs shedloads.

If you think you might stay 3-5 years then do it. If not then save up for a bigger house.

Just my 0.02p

Take care

Matt