Owning your own home

In great forum tradition I enjoy a project and then want to move on to another one...

Ouch. Stamp duty on £1m is about £45k isn't it? Plus whatever you paid 8 months ago that's a fair few years' rent...

kitchen's a bit odd and they've spent a few quid on the extension... However, as you say, lots of stuff around the £700k - £800k mark is just awful and that one is quite different.

Equally spending £200-300k on a £700-800k house will get you something at least as good and to your own brief. As long as you're prepared to go through the long haul of getting it built...

Minor details friend, minor details.

House for life - I've heard that one before :-).

The hassle is a major part I guess.

I totally get that you could achieve something similar/better. I just happen to really like this example and the road it's on at £1.4m it was way off though.

Chances are we're never going to buy it but it's the sort of thing I imagine for the next place

Just been looking at the fridges for the new kitchen (as builders appear next week...).

Check delivery box dimensions. check door size. no good. check unboxed dimensions, re check door size. still no good. fuuuuuck. :(

realise we might be able to get it round via the dining room, but that means taking it over 2 extra large steps, and it may not fit though still.

first world problems, first world problems.

Fridge doors usually come off with a couple of bolts, this could save you a crucial 60mm or so.

In great forum tradition I enjoy a project and then want to move on to another one...

But that's not a project, it's finished!

As @NickCJ says a couple would rattle around in it - it has been presented as a house for a family with kids - note the subtle hints such as the teepee ;)

Also if you think it's good value so will others - I suspect the offers will indeed be over one mill...

I agree. You'd have to fork out close to £800psft for a similar property around here.

a couple would rattle around in it

Not sure about this. If you have any hobbies/interests involving stuff you could easily fill it and have separate rooms to work/play/eat/etc

I suppose so. If you both worked from home occasionally and wanted separate offices, plus space for sex dungeon, wheelbuilding, arts and crafts studio etc then it would feel a little crowded.

Things are finally moving ahead with my house buying stuff. Two offers open - one on a shared ownership property, one on a full ownership.

Turns out if you're prepared to move into a house that looks like it's been set fire to, there ARE properties available on a budget.

Anyone have any experience in extending a short leasehold btw? 67 years. Christ.

67years? Ouch...

Savage isn't it? But as long as I can get it extended for under £20k it actually means the flat comes in under budget.

The thing I'm worried about is that there's another flat for sale in the same block with the same 67 year lease period, which is a hell of a co-incidence and makes me worry that there's some blocker on extending it. But I've no idea if that's even a thing.

You'll need to get the lease extended as part of the sale process. Without an extension v difficult to get a mortgage. But you probably already knew that.

the interior been "staged"

Definitely. They're selling a lifestyle! With a single teapot on the massive kitchen island and a teepee in the playroom.

I do think they've done it pretty well. It's in a good location too near the Forest so I could see it going for £1.2 million if there are competing offers.

The thing I'm worried about is that there's another flat for sale in the same block with the same 67 year lease period, which is a hell of a co-incidence

Not if the block was built about, ooooo, 67 years ago...

Do you mean about 32 years ago?

Er, yes. Or 58 years ago if it's a 125 year lease, also popular. You've got the essential point though - if the flats were all sold off at the same time when the block was finished then the chances are that any unextended leases will have the same remaining terms.

It will be because at some point the flats were redeveloped and all the leases started again at the same time, and that some tenants have not realised the importance of extending said lease.

Is it the shared ownership one? We had the same issue selling my wife's shared, she had let the lease drop to 70ish years, when she bought it would have been 80 years, something her mortgage advisor (her fucking uncle) and solicitors failed to point out was an issue.

We only realised after the surveyor had valued it, and asked the lease length, I checked land registry and oh fuck, it knocked £25k off the value.

If it is shared, in order to get a mortgage you will just need to get the seller to get the housing association to confirm they will extend straight away, as normally you need to be owner for two years or something (my memory is a bit hazy here).

As long as the deduction is price is equivalent to the cost of the extension you are good to go.

I didn't say the project would be of the same type - I'd have to fill that place with stuff or ... Kids :0

I did not just say that!

Yeah you're right - and it's too much for us but going to have a look around it anyway as its the kind of thing I'd like to do to the next place, whenever that might be

The other thing, which it is worth bearing in mind if it is the shared lease, despite only owning a % of the property, in terms of extending the lease it is based on the properties entire value not the portion you own.