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House and home

Any advice on what size house to buy?

(60 Posts)
flopen Sun 12-Jul-20 08:22:14

I've posted previously on buying a 2nd home to be nearer my daughter and her family.
So. We've seen a nice small flat, one bedroom, garden. But compact. But also no maintenance. £100k.
If we want a bit more space, it would be a Victorian terrace. Which would give us, usually, another small bedroom, and, perhaps, a dining room. A back yard, rather than a garden. Plus maintenance issues. This would cost us another £30-£40k.
We have budgeted to spend up to £150k.
I would be interested to hear whether people think it would be worth paying the extra chunk for more space.

Poppsbaggie Mon 13-Jul-20 09:04:28

I have just sold my small flat. Paid 245k 11 years ago, got 100k from a cash buyer. No BS would give a mortgage due to ground rent charges. I would advise buying a freehold property and give leasehold a very wide berth.

Thecatshatontgemat Mon 13-Jul-20 12:38:33

Go large! The house every time!
Never have to worry about ground rent/maintenance fees going through the roof.
Just fully insure it, and enjoy it, you never know : you might want to move in there at some time in the future.....

TwiceAsNice Mon 13-Jul-20 12:46:59

Can I just say I bought a one bedroom flat to be near my children and I live here all the time. It’s one bedroom, I couldn’t quite afford a 2 bedroom but would have much preferred it if I could have.

I have a large balcony with pots which is enough for me. The maintenance charge is very expensive , much more than yours and it can vary year to year.

Internal repairs were only done for free in the first two years, I know have to find any plumbing problems etc myself and I think you’ll find this is standard.

I would always go slightly bigger/ no service charge if you can afford it.

Witzend Mon 13-Jul-20 12:55:31

How big is the yard at the house? Enough for a small table/chairs/a few pots?
With care even a small, dismal-looking space can be made very attractive and if it’s going to be a 2nd home, I’d have thought a low maintenance yard or patio would be more practical than an actual garden.

flopen Tue 14-Jul-20 18:09:10

thank you all for your comments. It's been very useful.

Thistlelass Wed 15-Jul-20 16:35:40

Well I'm.just a poor, sick girl of 63 and I don't have a partner lol! I've worked hard all my life one way or another but somewhere I've been stupid and barely holding onto one cheap property never mind two but no matter. That is the way the die is cast. So what would I do if I were the OP? Live in the here and now. Don't worry about the 'future' as it is not promised. You have your main home and are choosing a second residence near your family. How exciting! Is it not like any property choice? You have to have the 'feel' for it? Be able to visualise yourselves sitting there relaxing - in your courtyard ( which could be beautifully done up with tubs, baskets, lights etc. Or maybe you are true gardeners and want a little plot at the flat to work on. Oh no you don't want to be having the grandchildren to stay lol! Just pop over and babysit them and come back to your comfy option. Whatever you do LOVE it and enjoy good health and happy times with your family.

Sparkling Thu 23-Jul-20 07:34:53

I would love to know where you can buy a flat for £100k! The decision has to be based on the amount of time you propose living there. I would buy just one home, not too far to travel to and from because I would not want the maintenance of two properties. I find the maintenance of one home more than enough.

Sparkling Thu 23-Jul-20 07:39:28

Poppsbaggie, so sorry you lost so very much on your flat. That is so much money to lose, I hope you have been able
start again.?

Franbern Thu 23-Jul-20 12:41:26

My large two bedroom /2 bathroom flat is freehold. Maintenance charges are less that I used to spend in my terrace house, AND includes all water rates and full 24/7 service contract on central heating/bliler/hot water system.

Management cttee is run by flats residents, not by an outside company. Love the security of a flat, love the easy living in a flat, love no worries about fences, gutterings, roof, external drains, etc. Could never imagine going back to a house or even a bungalow, with all those concerns ever again.