Houses

[Footballwipe]

In this week's "how is that house worth that?" feature:

 

https://www.rightmove.co.uk/properties/102258647#/

 

Leicester Forest East 4-bed house, sitting literally right next to the motorway with absolutely no garden whatsoever. An absolute steal at £459k (was originally listed for about £525k) and heading to auction next month!

 

[AndyElZorro]

On 27/01/2021 at 09:59, Wolfox said:

I’m at the stage now where I should have the drawings back from my architect next week…. 
 

Does anyone know any good builders that could take on a loft conversion and rear extension that they would consider recommending?
 

I’m willing to wait (a bit!) for the right builders, as it’s quite a critical choice!

Contact A. P. Keenan Building Services

Phone:  0116 286 5982

Address

49 Abbey Rd, Leicester LE19 2DB

Get Directions

 

He's the best. I grew up and went to school with him. Does a lot for the community and his as honest as they come.

[FoxesDeb]

36 minutes ago, Footballwipe said:

In this week's "how is that house worth that?" feature:

 

https://www.rightmove.co.uk/properties/102258647#/

 

Leicester Forest East 4-bed house, sitting literally right next to the motorway with absolutely no garden whatsoever. An absolute steal at £459k (was originally listed for about £525k) and heading to auction next month!

 

I still need to know what the people were like who bought the other one 

[Leicester_Loyal]

4 hours ago, Footballwipe said:

In this week's "how is that house worth that?" feature:

 

https://www.rightmove.co.uk/properties/102258647#/

 

Leicester Forest East 4-bed house, sitting literally right next to the motorway with absolutely no garden whatsoever. An absolute steal at £459k (was originally listed for about £525k) and heading to auction next month!

 

That's a proper shit advert for a house at 450k, minimal photos which all look the same. Not keen on everything being white either, then everything being light brown ish outside.

[FoyleFox]

7 hours ago, Footballwipe said:

In this week's "how is that house worth that?" feature:

 

https://www.rightmove.co.uk/properties/102258647#/

 

Leicester Forest East 4-bed house, sitting literally right next to the motorway with absolutely no garden whatsoever. An absolute steal at £459k (was originally listed for about £525k) and heading to auction next month!

 

That's awful. We all complain about estate agents exaggerating in descriptions but you can't say the close proximity to motorway networks is an exaggeration! 

 

Had anyone ever looked into buying via auction? We saw a nice one and now it's gone to auction, we've seen this becoming more popular recently and although used to be more of a cash/developer thing it's heading mainstream. Buyer seems to incur all the fees though. 

[Jon the Hat]

On 28/01/2021 at 12:01, Jon the Hat said:

My rental I had lined up has decided not to move so I now don't know when in Feb I am completing our sale, and have nowhere to move to anyway!  Yay!!

The never ending wait for exchange goes on.  What are we waiting for?  Nobody knows.  Slow solicitors I think.  We now found a lovely rental, and i put down a weeks rent deposit a week ago.  Still no sign of exchange or a completion date.  Nightmare. 

[Spudulike]

On 27/01/2021 at 14:59, Wolfox said:

I’m at the stage now where I should have the drawings back from my architect next week…. 
 

Does anyone know any good builders that could take on a loft conversion and rear extension that they would consider recommending?
 

I’m willing to wait (a bit!) for the right builders, as it’s quite a critical choice!

Are you having a single storey extension or double? We have some land on the side of the house that's crying out for an extension to make a big kitchen/diner and have employed an architect to come up with some plans. However, now thinking of going the whole hog and going for a double to make a big master bedroom and additional ensuite to bedroom 2. Not sure if it's worth the hassle or if it would add much value to offset the extra construction cost involved. 

[Wolfox]

35 minutes ago, Spudulike said:

Are you having a single storey extension or double? We have some land on the side of the house that's crying out for an extension to make a big kitchen/diner and have employed an architect to come up with some plans. However, now thinking of going the whole hog and going for a double to make a big master bedroom and additional ensuite to bedroom 2. Not sure if it's worth the hassle or if it would add much value to offset the extra construction cost involved. 

Up into the loft first  - space for a room and en suite

 

Then single story across the back for a new kitchen diner 

 

We need the extra bed as we are one short for the kids to all have a room each, but, suspect we wouldn’t lose anything 

 

Across the back should be quite transformative as the kitchen is currently small…. As the old saying goes kitchens add value!  So, I hope we’d be up and over on our investment along with all the other bits we are doing, but, it’s more about creating the home we want...

 

just got a second hand industrial floor sander to polish up all the wooden floors…. Love a nice toy !  Plus I expect i can sell it for more or less what I’ve paid for it once done...  

 

We are at the stage now where we want to get cracking...  might start on the lounge next week

[Costock_Fox]

Always curious as to what’s out there I’ve stumbled across a house I really like. It needs loads of work doing to it but could be amazing.

 

Presume estate agents would want my house on the market being going to view? Also, I’ve only just completed my remortgage about 2 months ago in my current place, I know I could port my existing product but would have to stick to the same LTV, has anyone heard of lenders allowing you to chose a new product if you move to a cheaper house but stay with them?

[Costock_Fox]

17 hours ago, Costock_Fox said:

Always curious as to what’s out there I’ve stumbled across a house I really like. It needs loads of work doing to it but could be amazing.

 

Presume estate agents would want my house on the market being going to view? Also, I’ve only just completed my remortgage about 2 months ago in my current place, I know I could port my existing product but would have to stick to the same LTV, has anyone heard of lenders allowing you to chose a new product if you move to a cheaper house but stay with them?

Turns out they are only wanting cash buyers. Imagine having £300k in the bank and then probably another £50-70k to do it up.

[newfox1]

Evening all, thoughts housing market looking at the moment here?

 

Think things a getting back to normal to more realistic prices now the mania is reducing? Seems houses taking bit longer to shift, yet some getting snapped up in a week looking at Zoopla and a few others.

 

 

 

 

[Unabomber]

5 minutes ago, newfox1 said:

Evening all, thoughts housing market looking at the moment here?

 

Think things a getting back to normal to more realistic prices now the mania is reducing? Seems houses taking bit longer to shift, yet some getting snapped up in a week looking at Zoopla and a few others.

 

 

 

 

I’m looking to move atm and the market is definitely still a mess. Prices are still too high as I assume people are still accounting for the stamp duty save. I think by spring it should level out and become abit more realistic. I have seen recently that not a lot is coming on and like you say those that are for sale have been on the market for ages. 

[Izzy]

13 minutes ago, newfox1 said:

Evening all, thoughts housing market looking at the moment here?

 

Think things a getting back to normal to more realistic prices now the mania is reducing? Seems houses taking bit longer to shift, yet some getting snapped up in a week looking at Zoopla and a few others.

 

I think a lot depends on the Stamp Duty break and if it's extended past April 1st. This BBC article from today gives a good summary:

 

https://www.bbc.co.uk/news/business-56016874

 

Estimates suggest that as many as 300,000 sales could fall through because the stamp duty break will expire - although there is no way of knowing yet how accurate that prediction will be.

Zoopla predicts that there will be a sudden drop-off in sales, with an expectation of 20% fewer transactions between April and June compared with the first three months of the year.

[newfox1]

Definitely more buy to lets by landlords being put up on the market, students leaving etc...I put an offer for one , agent didn't accept and it's still on the market, otherwise more 'reduced today' also on. 

 

Could be the time of year, pandemic which is unfortunately affecting everything except house prices especially for first time buyers like me.

 

Just looking for real house prices not inflated due to stamp duty break, fear of missing out etc...

 

 

Edited 11 February 2021 by newfox1

[Kopic]

Me and my girlfriend are looking at renting at the minute, for a couple of reasons. Firstly, we have our house deposit saved up, and are waiting for the market to settle a bit before we go for a house. Secondly, neither of us have ever actually run a house before. We both have experience from university with others but that's it. We have for the past couple years lived rent free at my parents house but it is getting very tedious and we want our own space. Also we feel like we should sort of practice before we go for the real thing. Is this a good idea? We're looking at houses about 650/month atm which we can afford, the thing that is really putting us off is the massive deposit they all require. We feel like we should take a year renting just to get used to it all before we make such a huge commitment to a mortgage, but on the other hand I feel like its just pissing money up the wall considering our current living arrangements. Really not sure what to do.

[Big Dave]

6 hours ago, Kopic said:

Me and my girlfriend are looking at renting at the minute, for a couple of reasons. Firstly, we have our house deposit saved up, and are waiting for the market to settle a bit before we go for a house. Secondly, neither of us have ever actually run a house before. We both have experience from university with others but that's it. We have for the past couple years lived rent free at my parents house but it is getting very tedious and we want our own space. Also we feel like we should sort of practice before we go for the real thing. Is this a good idea? We're looking at houses about 650/month atm which we can afford, the thing that is really putting us off is the massive deposit they all require. We feel like we should take a year renting just to get used to it all before we make such a huge commitment to a mortgage, but on the other hand I feel like its just pissing money up the wall considering our current living arrangements. Really not sure what to do.

In my opinion, if you are completely sure that the 2 of you are right together, I would take the plunge and buy. It is not really that difficult to run a house, and it is very exciting to buy your first place together.

You wouldn’t go and ‘rent a kid’ before trying for kids yourself to see if you can do it.

There is also no telling that house prices will settle or drop again - they may well keep rising. If you have the deposit and house prices continue rising, you could price yourselves out of the market.

 

[Big Dave]

Does anyone have any experience of buying at auction? I have seen a 2 bed flat locally, but is going straight to auction.

Can you still get ‘bargains’?

Are the fees high?

[Innovindil]

6 hours ago, Kopic said:

Me and my girlfriend are looking at renting at the minute, for a couple of reasons. Firstly, we have our house deposit saved up, and are waiting for the market to settle a bit before we go for a house. Secondly, neither of us have ever actually run a house before. We both have experience from university with others but that's it. We have for the past couple years lived rent free at my parents house but it is getting very tedious and we want our own space. Also we feel like we should sort of practice before we go for the real thing. Is this a good idea? We're looking at houses about 650/month atm which we can afford, the thing that is really putting us off is the massive deposit they all require. We feel like we should take a year renting just to get used to it all before we make such a huge commitment to a mortgage, but on the other hand I feel like its just pissing money up the wall considering our current living arrangements. Really not sure what to do.

If you've already been living together and not killed each other I'd say you're already used to it. "running a house" is fairly simple these days, practically everything regarding bills can be done online. And if you can afford to rent you and you have the mortgage deposit already then you can afford to buy with the stupidly low interest rates today. Sure there's a risk with house prices right now, but renting for a year and sinking thousands into someone else's pocket isn't great either. Just remember to give yourself some leeway with the mortgage either in monthly cost or length so you can adjust to interest rates going up in the future. 

 

Getting the keys to your first house is probably one of the best experiences in life, the trepidation leading upto it is imo, part of that. 

[Costock_Fox]

13 minutes ago, Big Dave said:

In my opinion, if you are completely sure that the 2 of you are right together, I would take the plunge and buy. It is not really that difficult to run a house, and it is very exciting to buy your first place together.

You wouldn’t go and ‘rent a kid’ before trying for kids yourself to see if you can do it.

There is also no telling that house prices will settle or drop again - they may well keep rising. If you have the deposit and house prices continue rising, you could price yourselves out of the market.

 

This is exactly the same thing.

[Manini]

7 hours ago, Kopic said:

Me and my girlfriend are looking at renting at the minute, for a couple of reasons. Firstly, we have our house deposit saved up, and are waiting for the market to settle a bit before we go for a house. Secondly, neither of us have ever actually run a house before. We both have experience from university with others but that's it. We have for the past couple years lived rent free at my parents house but it is getting very tedious and we want our own space. Also we feel like we should sort of practice before we go for the real thing. Is this a good idea? We're looking at houses about 650/month atm which we can afford, the thing that is really putting us off is the massive deposit they all require. We feel like we should take a year renting just to get used to it all before we make such a huge commitment to a mortgage, but on the other hand I feel like its just pissing money up the wall considering our current living arrangements. Really not sure what to do.

Don’t rent mate, especially if you have the cash to buy, you will kick yourself when you look back in 12 months time and look at the money you’ve spent with nothing to really show for it. I don’t think there’s ever really a bad time to invest in property if you can afford it either, so my advice would be to just buy now if you feel that’s what you want to do. Otherwise, see if you can bear another 6 months with your parents and add even more to your deposit. 

Edited 12 February 2021 by Manini

[FoyleFox]

41 minutes ago, Big Dave said:

Does anyone have any experience of buying at auction? I have seen a 2 bed flat locally, but is going straight to auction.

Can you still get ‘bargains’?

Are the fees high?

We've just looked at a property going to auction too. I had a reasonable chat with the auctioneers about the process, which was very helpful. The fees are quite steep, 4-6% on top of the purchase price for the one we were looking at. You have to pay those, a deposit and reservation fee up front if you're the successful buyer and then have a set time to complete, 28 - 50 days depending on the auction. You lose your deposit money if you fail to complete. 

If you gave the agent or auctioneers a call they'd happily give you more info. 

[kingcarr21]

So the finances have been sorted so it looks like my house move is going ahead. Currently searches are ongoing. Environmental search is complete so waiting for the others.

 

Anybody on here gone through a house move during the Coronavirus? Is the length of time to actually move increased due to the virus?

 

I think the move will take longer than usual especially with the rush to beat the deadline for stamp duty. Luckily I am a first time buyer so it doesn't affect me but the owners of the house I am moving into will be affected. 

 

Scary and exciting times ahead

[lcfc278]

8 hours ago, Kopic said:

Me and my girlfriend are looking at renting at the minute, for a couple of reasons. Firstly, we have our house deposit saved up, and are waiting for the market to settle a bit before we go for a house. Secondly, neither of us have ever actually run a house before. We both have experience from university with others but that's it. We have for the past couple years lived rent free at my parents house but it is getting very tedious and we want our own space. Also we feel like we should sort of practice before we go for the real thing. Is this a good idea? We're looking at houses about 650/month atm which we can afford, the thing that is really putting us off is the massive deposit they all require. We feel like we should take a year renting just to get used to it all before we make such a huge commitment to a mortgage, but on the other hand I feel like its just pissing money up the wall considering our current living arrangements. Really not sure what to do.

This is exactly what me and my Mrs did, we had the deposit etc. and thought we'd rent for a year to test out living together.

 

We ended up renting for about 3 years in the end and savings got chipped away at for one thing or another and with paying rent it's then harder to top it back up.

 

Biggest regret was not just buying straight away. At the end of the day, if you buy and it all goes t*ts up living with your partner, then you can always sell it and most likely make money rather than throw it away on rent. 

[David Guiza]

 

19 minutes ago, kingcarr21 said:

So the finances have been sorted so it looks like my house move is going ahead. Currently searches are ongoing. Environmental search is complete so waiting for the others.

 

Anybody on here gone through a house move during the Coronavirus? Is the length of time to actually move increased due to the virus?

 

I think the move will take longer than usual especially with the rush to beat the deadline for stamp duty. Luckily I am a first time buyer so it doesn't affect me but the owners of the house I am moving into will be affected. 

 

Scary and exciting times ahead

We moved back in September and had no issues in terms of additional time frame. Some Solicitors firms are operating remotely which has slowed down the process somewhat if they are only going in to the office intermittently to get any physical files/documents they may need, and some Local Authority Search results are being delayed by a week or so too as a result of COVID too. Quite a few firms were only doing simultaneous exchange/completions, so as to avoid any event whereby restrictions were tightened and parties were left committed to something they couldn't complete - but aside from that I've not noticed any noticeable common delays.

 

The Conveyancing department of my work are drowning in new purchase files, and quite a few Transfer of Equities too; presumably as folk look to shore up finances and or have been through break ups. The general consensus is that the SDLT holiday may be extended, purely based on the fact that restrictions are likely to be extended beyond April but that's obviously just hearsay. 

[Jon the Hat]

43 minutes ago, kingcarr21 said:

So the finances have been sorted so it looks like my house move is going ahead. Currently searches are ongoing. Environmental search is complete so waiting for the others.

 

Anybody on here gone through a house move during the Coronavirus? Is the length of time to actually move increased due to the virus?

 

I think the move will take longer than usual especially with the rush to beat the deadline for stamp duty. Luckily I am a first time buyer so it doesn't affect me but the owners of the house I am moving into will be affected. 

 

Scary and exciting times ahead

We are at 14 weeks now since we accepted our offer and not agreed an exchange or completion date.  No idea what is going on, very frustrating.  Essentially you will need to not give notice on your current place until you exchange, or possibly complete.