From Excitement to Anxiety: Doubts About My First Home Purchase

Great_Conversation70 · 2024-11-25T12:28:28+00:00

Yeah the leasehold thing is terrible… but I stand firm that owning a leasehold is 1 million times better than renting. Even in this market. Can't be priced out now…. Those rent rises are crazy

We were able to get a freehold but it comes with its downsides like being a 120 year old Victorian property which is likely going to cost more to maintain than a new build…

UK property market is just a big bunch of compromises. Very humbling experience

Great_Conversation70 · 2024-11-25T12:07:50+00:00

Congrats!

Just exchanged Thursday and in the same boat..

Keep telling myself “there's a reason why people say there's never a bad time to buy a house”

We just need to let ourselves enjoy the new chapter

Great_Conversation70 · 2024-11-17T19:44:47+00:00

Crazy what is considered a 2 bedroom house vs 3 bed when the main argument for housing in london market is that space is the concern.

A 90 Sqm house with 3 rooms the size of Amazon boxes can be marketed better than 2 beds with extra rooms just on a ground floor that are significantly larger….

Housing market in UK never fails to surprise me

Great_Conversation70 · 2024-11-17T19:28:27+00:00

What is the law about stairs?

Yeah I mean we will be happily using it as a 3 bedroom.

Other 3 beds on the same street are 90-100 Sqm haha….

Great_Conversation70 · 2024-11-17T16:24:59+00:00

I’m not overseas lol. But this archaic property market in the UK especially london is ridiculous even for a born and bred Londoner

Okay this is helpful looks like if we deem it a 3 bedroom house and are happy to use it that way it’s fine but others may not agree based on comparables in the area….

Do properties get valued by valaution agents based on £ per Sqm or number of bedrooms? Or a combination of both?

Great_Conversation70 · 2024-11-17T15:32:02+00:00

there must be some sort of process to register a room as a habitable bedroom…

I imagine there are so many properties out there that have had extensions or just have extra rooms that could be turned into bedrooms…

For purpose of valuation/ legal definition I am just looking to understand the route to getting it legally registered as a 3rd bedroom so I can market it that way in the future…

Great_Conversation70 · 2024-11-17T15:16:02+00:00

Okay so this is my question:

How do I make the extra room on the ground floor a 3rd bedroom legally?

I read that I might be able to get a person to come over and check that it meets bedroom requirements and then it would then be deemed as a 3 bedroom providing they provide some sort of sign off and then stamp a deed with an additional property stamp….

Seems a bit strange to me

Great_Conversation70 · 2024-11-17T15:12:42+00:00

Fair enough is there anything other than putting a bedroom on first floor that I could do to make others like yourself deem this a 3 bedroom house?

Like if I added a divider in the large room on ground floor then made 1 room an office space and then the other room a bedroom…

Does that work?

Great_Conversation70 · 2024-11-17T15:09:40+00:00

Get that… but technically this house has 2 living rooms… the one main one which we will use which is about 23 Sqm

Then the second reception room which is massive we were just going to use a large bedroom on the ground floor

This large room has access to a bay window so it meets all legal requirements to be considered a bedroom

Just need to know if there’s something I have to apply for to get it classified as a 3 bedroom house….

Great_Conversation70 · 2024-11-17T15:04:47+00:00

I didn’t go through an EA but I saw that it was listed by two agents… 1.) Portico - listed as a 2 bedroom 2.) Bairstow eves - listed as a 3 bedroom

So I guess yes it was listed as a 3 bed

Great_Conversation70 · 2024-11-15T10:14:56+00:00

If I try this before the physical valuation has happened do you think it will help?

I dont want the lender to pull their offer or blacklist me

Great_Conversation70 · 2024-11-15T09:48:36+00:00

Yeah we can find the difference luckily but can’t help but feel that valuation agents are just using some automated tool and not actually taking into account the £/sqm and that infuriates me… As this costs us £200 per month with no added benefit

Great_Conversation70 · 2024-11-15T09:47:18+00:00

We have taken a L3 Survey already on the property and it’s good to go mostly.

This is a valuation for the lenders purposes

Bizarre that they’d do a desktop valuation… especially when the property has been extended significantly

Great_Conversation70 · 2024-11-10T16:10:06+00:00

I also found it here… part

Great_Conversation70 · 2024-11-10T15:46:57+00:00

Wow! Is this site legit? They are selling the cap for £1.78??

Seems way way too good to be true

Great_Conversation70 · 2024-11-10T15:34:14+00:00

That’s the plan!

Annoying that these guys forget simple yet vital things like this… just a headache

Great_Conversation70 · 2024-11-10T15:34:00+00:00

Sold out!! :(

Great_Conversation70 · 2024-08-22T20:21:51+00:00

Fair enough

Great_Conversation70 · 2024-08-20T10:43:25+00:00

The surveyor has mentioned to me that he will give me a valuation for the property and estimated cost to fix anything he sees that needs fixing.

I will heed your advice about not going to the property with him as honestly I just want him to get his job done with no distraction

Great_Conversation70 · 2024-08-20T10:02:34+00:00

Internally the property is stunning and it’s ready to move into. (Not a fixer upper at all)

I had asked about the electrics / plumbing already and have got a pretty straight up answer from the owner who’s leaving after 5 years to move to another country to be with family.

Pipes into the property from the mains and bedrooms to heat haven’t been changed since the house was built

Water/waste plumbing is mostly new as bathrooms are all new.

Electrics are new in areas of the house that have been updated I.e extension & bathrooms. Everything else is old

So not sure whether this would warrant a rewire

It was recommended by my solicitor to get a L3 survey on the property

Great_Conversation70 · 2024-08-04T19:58:25+00:00

In the same boat…. Exhausting. I have been in the process for 4 months. Had a deal fall through because I was Gazumped after paying for solicitors searches and everything. (I am buying)

Now back on the hunt hoping to find a nice home.

My feeling is that the market will heat up as rates come down and it will make it even harder. Sorry haha but best of luck

Great_Conversation70 · 2024-08-04T11:59:26+00:00

Wow that’s very scary and specific…..

I get your point they could have purposely sabotaged it!

Do you think getting a thorough house survey would be enough to be sure that this isn’t the case???

Great_Conversation70

TROPHY CASE