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Pete. |
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Pete. Super Spammer
Joined: 22 Aug 2006 Karma :
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Posted: 19:21 - 24 Jun 2017 Post subject: Best advice for first house purchase. |
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My daughter and her feller and looking to buy their first house. They have a deposit saved and a mortgage in principle from HSBC which gives them a budget of £240k. I know it's not a king's ransom but that's all their combined earnings will allow.
Currently their field of search is around the Medway area as that seems to be the most local place where properties are still reasonable (ish).
There is no immediate pressure of time (apart from rising property prices) so I want to make sure they avoid as many of the pitfalls as possible and I'm looking for advice from the experienced property moguls of BCF. I still live in the first property I bought so I don't have any practical experience.
So, how can they get the most bang for their buck? ____________________ a.k.a 'Geri'
132.9mph off and walked away. Gear is good, gear is good, gear is very very good |
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P. |
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P. Red Rocket
Joined: 14 Feb 2008 Karma :
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Posted: 19:44 - 24 Jun 2017 Post subject: |
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Abroad and renting it out to holiday makers and using that to pay for home would sort them well...
However, was looking at similar costings, Gravesend towards Thong (lol?) Was a nice place at 250, 2 big bedrooms and a decent garden. They'd accept offers.
Find a friend that knows someone for solicitor work, it'll be cheaper. I do know someone who could possibly help, can find details if needed.
Handy if they have a guaranteed amount that they will loan as they can just slam the yes button.
Have to ask, do they need to stay down Kent way, because I've seen a 4 bed marble arched entrance twin drive with a triple garage about 100 miles up for 245k
Best of luck to them whatever their choice. |
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Rogerborg |
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Rogerborg nimbA
Joined: 26 Oct 2010 Karma :
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Posted: 19:58 - 24 Jun 2017 Post subject: Re: Best advice for first house purchase. |
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Pete. wrote: | So, how can they get the most bang for their buck? |
Move to Yorkshire.
Find a place that's cosmetically tatty or has weird decor, that every other idiot will turn their noses up at. Buy, paint everything magnolia or white, enjoy. ____________________ Biking is 1/20th as dangerous as horse riding.
GONE: HN125-8, LF-250B, GPz 305, GPZ 500S, Burgman 400 // RIDING: F650GS (800 twin), Royal Enfield Bullet Electra 500 AVL, Ninja 250R because racebike |
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Pete. |
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Pete. Super Spammer
Joined: 22 Aug 2006 Karma :
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Posted: 20:08 - 24 Jun 2017 Post subject: |
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Paddy. wrote: | Abroad and renting it out to holiday makers and using that to pay for home would sort them well...
However, was looking at similar costings, Gravesend towards Thong (lol?) Was a nice place at 250, 2 big bedrooms and a decent garden. They'd accept offers.
Find a friend that knows someone for solicitor work, it'll be cheaper. I do know someone who could possibly help, can find details if needed.
Handy if they have a guaranteed amount that they will loan as they can just slam the yes button.
Have to ask, do they need to stay down Kent way, because I've seen a 4 bed marble arched entrance twin drive with a triple garage about 100 miles up for 245k
Best of luck to them whatever their choice. |
Got a link for that local 250k job? Sounds like something they would be keen to look at although it's gonna be close to the new M25/M2 connection. ____________________ a.k.a 'Geri'
132.9mph off and walked away. Gear is good, gear is good, gear is very very good |
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Pete. |
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Pete. Super Spammer
Joined: 22 Aug 2006 Karma :
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nowhere.elysium |
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nowhere.elysium The Pork Lord
Joined: 02 Mar 2009 Karma :
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Pete. |
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Pete. Super Spammer
Joined: 22 Aug 2006 Karma :
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Posted: 20:40 - 24 Jun 2017 Post subject: |
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Big problem with that Gerry is that they both have stable jobs and the mortgage depends on that. Plus she would not like to move away from her mum, and her mum would like it even less. ____________________ a.k.a 'Geri'
132.9mph off and walked away. Gear is good, gear is good, gear is very very good |
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andyscooter |
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andyscooter World Chat Champion
Joined: 30 May 2009 Karma :
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Wonko The Sane |
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Wonko The Sane World Chat Champion
Joined: 20 Jan 2013 Karma :
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Posted: 22:16 - 24 Jun 2017 Post subject: |
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I can only advise from the pitfalls of when we bought our house,
The government advised 'homebuyers survey' highlighted the following:
chimney at back in need of repair (actually, the top 3 -4 layers of brick could be lifted off by hand)
front steps were falling apart (yep, could see that)
Fuse box was old type and upgrade recommended (yup, I'd spotted that)
What it missed was:
Central heating system only fired up when it wanted to and for as long as it wanted to
Central heating on old style single pipe loop, not out and return leaving half the house warm and the other half not
dangerous electrics, extensions to ring mains done by wiring a plug, drilling through a wall, running the wire under a wardrobe, separating out the bare wires into a scotch block (sorry Rog, not being racist) to connect the two short bits of wire together, under a skirting board and into a socket.
Rot in the roof timbers.
what I'm trying to say is, the recommended survey is not worth anything much, assume lots wrong and keep money by to fix. The survey can't lift carpets etc to check properly.
Solicitors will play for time and try and palm their work off onto the other. Mine had to threaten to report the seller's as they kept simply pointing my solicitor in the direction of planning applications (for the extension on the house) telling my solicitor they can find out.
It's the sellers solicitor's responsibility to disclose that info, delayed our purchase by a few weeks. ____________________ Looking to pass your CBT / Bike tests in Bury Lancashire? try www.focusridertraining.co.uk Would recommend.
They're also on Facebook https://www.facebook.com/pages/Focus-Rider-Training/196832923734251 |
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M.C |
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M.C Super Spammer
Joined: 29 Sep 2015 Karma :
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Posted: 00:20 - 25 Jun 2017 Post subject: |
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Not sure about surveys, my dad didn't buy a house based on one and had the guy (under pressure from the agent) call him up A friend had one done recently and they missed loads of fairly major stuff. |
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stevo as b4 |
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stevo as b4 World Chat Champion
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chickenstrip |
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chickenstrip Super Spammer
Joined: 06 Dec 2013 Karma :
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Posted: 01:01 - 25 Jun 2017 Post subject: |
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M.C wrote: | Not sure about surveys, my dad didn't buy a house based on one and had the guy (under pressure from the agent) call him up A friend had one done recently and they missed loads of fairly major stuff. |
Guess I got lucky. The surveyor didn't pick anything untoward up on mine, and nothing has proved to be a problem since. I asked them to look into a couple of things specifically, looked carefully for myself when I viewed, asked the previous owners a few questions. I had no previous experience of house buying either, but read up on the pitfalls before going into it all.
There are different levels of survey; pay a bit more for a more in-depth one if you're that concerned. ____________________ Chickenystripgeezer's Biking Life (Latest update 19/10/18) Belgium, France, Italy, Austria tour 2016 Picos de Europa, Pyrenees and French Alps tour 2017 Scotland Trip 1, now with BONUS FEATURE edit, 5/10/19, on page 2 Scotland Trip 2 Luxembourg, Black Forest, Switzerland, Vosges Trip 2017
THERE'S MILLIONS OF CHICKENSTRIPS OUT THERE! |
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Pete. |
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Pete. Super Spammer
Joined: 22 Aug 2006 Karma :
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stevo as b4 |
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stevo as b4 World Chat Champion
Joined: 17 Jul 2003 Karma :
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GSTEEL32 |
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GSTEEL32 Traffic Copper
Joined: 24 Feb 2010 Karma :
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Pete. |
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Pete. Super Spammer
Joined: 22 Aug 2006 Karma :
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Posted: 13:46 - 25 Jun 2017 Post subject: |
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Where did you end up?
Train is not a consideration they both drive and both work in Darenth/Dartford. Reasonable access for parking 2 cars is more of an issue. ____________________ a.k.a 'Geri'
132.9mph off and walked away. Gear is good, gear is good, gear is very very good |
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hellkat |
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hellkat Super Spammer
Joined: 12 Jul 2004 Karma :
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Jewlio Rides Again LLB |
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Jewlio Rides Again LLB World Chat Champion
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hellkat |
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hellkat Super Spammer
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waffles |
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waffles World Chat Champion
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Alpineandy |
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Alpineandy World Chat Champion
Joined: 18 Mar 2015 Karma :
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Posted: 16:08 - 25 Jun 2017 Post subject: |
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The best bit of advice I received 30 years back when buying my first place (well, 50% of it ) was from my Step-Mother.
She said "In your price bracket, buy the worst property in the best area, not the other way around. You can improve the property but you can't improve an area yourself".
Obviously that doesn't allow for the government throwing money at a certain part of town, or the fashionista effect (Who'd have guessed docklands would become trendy and expensive?).
But it's done me very well and is about the only thing the bitch ever said that was useful... ____________________ The above comment isn't necessarily the truth and anyone that says it is, is only correct if it's the truth or they're bigger than me. |
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Itchy |
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Itchy Super Spammer
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chickenstrip |
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chickenstrip Super Spammer
Joined: 06 Dec 2013 Karma :
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Posted: 16:38 - 25 Jun 2017 Post subject: |
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^^ Oh, how true! (from personal experience). ____________________ Chickenystripgeezer's Biking Life (Latest update 19/10/18) Belgium, France, Italy, Austria tour 2016 Picos de Europa, Pyrenees and French Alps tour 2017 Scotland Trip 1, now with BONUS FEATURE edit, 5/10/19, on page 2 Scotland Trip 2 Luxembourg, Black Forest, Switzerland, Vosges Trip 2017
THERE'S MILLIONS OF CHICKENSTRIPS OUT THERE! |
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hellkat |
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hellkat Super Spammer
Joined: 12 Jul 2004 Karma :
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Posted: 17:26 - 25 Jun 2017 Post subject: |
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Remarkable.
They've managed to spell "paedos" correctly. ____________________ Not nearly as interesting in real life. |
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chickenstrip |
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chickenstrip Super Spammer
Joined: 06 Dec 2013 Karma :
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Posted: 17:29 - 25 Jun 2017 Post subject: |
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hellkat wrote: |
Remarkable.
They've managed to spell "paedos" correctly. |
But got "psycho" wrong ____________________ Chickenystripgeezer's Biking Life (Latest update 19/10/18) Belgium, France, Italy, Austria tour 2016 Picos de Europa, Pyrenees and French Alps tour 2017 Scotland Trip 1, now with BONUS FEATURE edit, 5/10/19, on page 2 Scotland Trip 2 Luxembourg, Black Forest, Switzerland, Vosges Trip 2017
THERE'S MILLIONS OF CHICKENSTRIPS OUT THERE! |
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Old Thread Alert!
The last post was made 6 years, 323 days ago. Instead of replying here, would creating a new thread be more useful? |
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