Potential house move again....

WiresDreamDisasters

Here's another one around the corner that has been tarted up already:

HAL9000

My two cents - seems you’d rather be in Colindale than where you are now. However sounds like you’re losing the convenience of a semi, and there’s a fair amount of building works to be done (with all the domestic upheaval that entails). I reckon you’ve got the right location but possibly haven’t yet found the right house. I’d be trawling the Colindale estate agents to see if there’s anything they’re aware off coming to market that might be more ‘right’ for you and yours. If they laugh in your face then go for the one you’ve already found. Otherwise see what else is on offer.

Edit - just seen your photos above (they weren’t there when I started my post!) and get where you’re coming from re converting garage. Looks good, and the fact others have done it means there should be no issues re planning consents etc.

Iamnobody

WiresDreamDisasters said: 

Also financially... does it make sense to sell a typical 3-bed semi in favour of a 3-bed mid-terrace that eventually could be a 4 bed, with a bit of work.

I guess it can make financial sense but I think being happy and in the right place that works for you is just as important as the financial side.

We sold a 3 bed detached and bought a 3 bed semi for over 33% more £s - which we’ve subsequently done a lot of work on and is now a 4 bed.

We paid more to be in the area and it’s got a much bigger footprint both in terms of room numbers, room sizes and garden.

It did feel like a backwards step at the time but we 100% made the right decision. Location, as you seemed to have observed is critical. 

I do miss not living in a detached a little bit though...

Did it make financial sense? Yes I think it did for us as where we moved from will have a lower ceiling price and where we are is stupidly expensive and seems to be rising still. Not that it matters as we are staying out for a while.

jonnyburgo

Reminds me a bit of the Fahrenheit 451 buildings, architecture aside, if there is potential to make it into the house that you want and in budget then go for it mate. You know what you're after, doesn't matter what you could get elsewhere. 

boogieman

WiresDreamDisasters said:

ICBM said:

Be careful before assuming you can convert a garage into a studio. It will probably be built without a proper damp course, it will be hard to soundproof, and it may be hard to properly secure and heat, depending on what the roof is like.

Mine wasn't even suitable to convert into a decent workshop even though it was a very solid brick one, so in the end we decided to spend a lot more and have replaced with a proper two-floor extension so we got an extra bedroom as well.

I'm fairly sure it'd be possible. Others in the area of the same house type and construction have been done. 



Brick up the dark blue garage door, floating floor with acoustilay 15 subsurface, add some skylights, should be pretty decent.

Just looked it up on Rightmove. Offers over £half a mill? Sweet baby Jesus, London prices are insane

Kilgore

Location, location, location.

Get Phil and Kirsty to find you a house. 

WiresDreamDisasters

boogieman said:

WiresDreamDisasters said:

ICBM said:

Be careful before assuming you can convert a garage into a studio. It will probably be built without a proper damp course, it will be hard to soundproof, and it may be hard to properly secure and heat, depending on what the roof is like.

Mine wasn't even suitable to convert into a decent workshop even though it was a very solid brick one, so in the end we decided to spend a lot more and have replaced with a proper two-floor extension so we got an extra bedroom as well.

I'm fairly sure it'd be possible. Others in the area of the same house type and construction have been done. 



Brick up the dark blue garage door, floating floor with acoustilay 15 subsurface, add some skylights, should be pretty decent.

Just looked it up on Rightmove. Offers over £half a mill? Sweet baby Jesus, London prices are insane

It is what it is. Outside London is just a completely different thing. My mum doesn't understand it either.

Everything everyone said here is true, and I already know it. We could get a huge fuck off Playboy mansion in John O'Groats for the price. I know this. But it's just not on the cards right now.

Also I have noticed that one thing to factor in, houses never sell for what they were listed for. Usually a 20-30K drop gets you in the ballpark range of where it would sell, depending on condition. I've been tracking a lot of houses and have watch their activity. Been seing many 500K houses sell for 475/480K.

octatonic

WiresDreamDisasters said:

boogieman said:

WiresDreamDisasters said:

ICBM said:

Be careful before assuming you can convert a garage into a studio. It will probably be built without a proper damp course, it will be hard to soundproof, and it may be hard to properly secure and heat, depending on what the roof is like.

Mine wasn't even suitable to convert into a decent workshop even though it was a very solid brick one, so in the end we decided to spend a lot more and have replaced with a proper two-floor extension so we got an extra bedroom as well.

I'm fairly sure it'd be possible. Others in the area of the same house type and construction have been done. 



Brick up the dark blue garage door, floating floor with acoustilay 15 subsurface, add some skylights, should be pretty decent.

Just looked it up on Rightmove. Offers over £half a mill? Sweet baby Jesus, London prices are insane

It is what it is. Outside London is just a completely different thing. My mum doesn't understand it either.

Everything everyone said here is true, and I already know it. We could get a huge fuck off Playboy mansion in John O'Groats for the price. I know this. But it's just not on the cards right now.

Also I have noticed that one thing to factor in, houses never sell for what they were listed for. Usually a 20-30K drop gets you in the ballpark range of where it would sell, depending on condition. I've been tracking a lot of houses and have watch their activity. Been seing many 500K houses sell for 475/480K.

This is how I would approach your specific issue, plus some general discussion about London vs Not London.
Ideally you want to find something that can turn 500k into, say,  700k or more through a combination of investment, renovation, extension and capital growth.

Doing 10 years or so in London allows people to cash out and move to a larger family home either in the country or further out in London. If you don't want to do that (which I suspect you don't) then don't factor that into your thinking.

There is always going to be a trade off between being close to central London vs having space and being further out.
The pandemic has turned things on its head a bit- one bedroom apartments in London are largely unwanted now.
3-5 bedroom houses in the countryside or the edges of London are super desirable.

This is 100k more than the one you posted:

https://www.rightmove.co.uk/properties/108771005#/?channel=RES_BUY

It is semi detached, looks like it might have potential for an extension.
You've got a tenant in an AST but you can give notice.
I think it has more potential than the other one but that potential comes with a cost, probably about £400 pcm.

I've got friends who took on lodgers to help with the mortgage when they sized up, I realise this might not be something you want to consider with a child in the house. It is also something I never wanted to do either.

If that isn't possible then the one you posted isn't bad- it needs work but that is an opportunity in itself.

boogieman

WiresDreamDisasters said:

boogieman said:

WiresDreamDisasters said:

ICBM said:

Be careful before assuming you can convert a garage into a studio. It will probably be built without a proper damp course, it will be hard to soundproof, and it may be hard to properly secure and heat, depending on what the roof is like.

Mine wasn't even suitable to convert into a decent workshop even though it was a very solid brick one, so in the end we decided to spend a lot more and have replaced with a proper two-floor extension so we got an extra bedroom as well.

I'm fairly sure it'd be possible. Others in the area of the same house type and construction have been done. 



Brick up the dark blue garage door, floating floor with acoustilay 15 subsurface, add some skylights, should be pretty decent.

Just looked it up on Rightmove. Offers over £half a mill? Sweet baby Jesus, London prices are insane

It is what it is. Outside London is just a completely different thing. My mum doesn't understand it either.

Everything everyone said here is true, and I already know it. We could get a huge fuck off Playboy mansion in John O'Groats for the price. I know this. But it's just not on the cards right now.

Also I have noticed that one thing to factor in, houses never sell for what they were listed for. Usually a 20-30K drop gets you in the ballpark range of where it would sell, depending on condition. I've been tracking a lot of houses and have watch their activity. Been seing many 500K houses sell for 475/480K.

Oh I hear what you’re saying, not criticising your choice, you need to be where you need to be. It just constantly surprises me what asking prices in London are compared to national average.

p90fool

WiresDreamDisasters said:

I'm fairly sure it'd be possible. Others in the area of the same house type and construction have been done. 



Brick up the dark blue garage door, floating floor with acoustilay 15 subsurface, add some skylights, should be pretty decent.

Fuck me, I know you want to stay in London mate but seriously, aren't you working from home anyway? 

The same money near me gets you quite a pleasant four bedroom house with a two-bedroom annexe in the large garden and a belfry in a very pretty village near excellent schools. It's even quite near the English border and major roads.

I'm in no way knocking your life choices, just highlighting the madness of the property market.

https://www.rightmove.co.uk/properties/109436621#/?channel=RES_BUY

Philly_Q

@p90fool I have nothing useful to add to the discussion but oh my god I love that house!

(I know they've used the stretchy camera thing to make the rooms look bigger than they are, but still...)

Edit:  Yikes, that red-carpeted bathroom would need changing! 

WiresDreamDisasters

Honestly dudes, if it were just me to think about, I'd bail from London. I don't need to be here since the acquisition. But it isn't just me to think about.

WiresDreamDisasters

I've had similar conversations with my mum. This is a house in her area:

https://www.zoopla.co.uk/for-sale/details/54629047/


I'm fully aware that I could get basically a mansion for our budget. Our budget is limited at £520K though. Bank won't loan us anymore, only allow us to port.

Longtallronnie

If you have the appetite/budget for major renovations etc then go for it. 

When we bought our first house, we had a lot of plans for it but ultimately couldn't afford to carry them out. As the house deteriorated, so did my mental health. I grew to fucking hate that place and we were stuck there for nearly 15 years. 
Thankfully, circumstances improved, we were able to get enough done to sell and move to a nicer house that doesn't need any major works.

WezV

WiresDreamDisasters said:

I've had similar conversations with my mum. This is a house in her area:

https://www.zoopla.co.uk/for-sale/details/54629047/


I'm fully aware that I could get basically a mansion for our budget. Our budget is limited at £520K though. Bank won't loan us anymore, only allow us to port.

come back to the midlands, you know it makes sense :P

my dad just sold his house
https://www.rightmove.co.uk/properties/109336754#/?channel=RES_BUY

Philly_Q

It's dangerous looking at these Zoopla and Rightmove links.  I had no thoughts at all of moving house, but they can give you the house-buying equivalent of GAS.

Cirrus

The price of houses in London is a lot of money.

Where I live, in the elsewhere, for a lot of money you could buy a bigger house!

SPECTRUM001

WiresDreamDisasters said:

ICBM said:

Be careful before assuming you can convert a garage into a studio. It will probably be built without a proper damp course, it will be hard to soundproof, and it may be hard to properly secure and heat, depending on what the roof is like.

Mine wasn't even suitable to convert into a decent workshop even though it was a very solid brick one, so in the end we decided to spend a lot more and have replaced with a proper two-floor extension so we got an extra bedroom as well.

I'm fairly sure it'd be possible. Others in the area of the same house type and construction have been done. 



Brick up the dark blue garage door, floating floor with acoustilay 15 subsurface, add some skylights, should be pretty decent.

That looks really tidy, and if it has the potential to provide what you need, then give it serious consideration.

Whilst it is hard not to have an eye on house value and growth potential (especially in London), I believe happiness counts for more. If it is any comfort, I am sure by staying in London (which you would be), the long term will look rosy financially - so I wouldn't worry too much about your current vs the new.

I wanted to get out some ten years ago, but both me and Mrs 001 were both focused on our careers, and needed to be London based. That has changed, we have sold up and do now feel somewhat liberated. 

Go for it...

Snags

Have to say that reading the OP it seemed like you'd already answered your own question, and that emotionally if nothing else you'd rather be back in or towards Colindale.

If there are constraints that keep you inside the M25, find the right place and go for it. Even if the place you move to doesn't appreciate as much as where you are now (and it may appreciate more if the regeneration is effective) then it has to be worth it to be happier and have a better life for the family.

On the other hand, if the constraints that keep you in the Smoke are potentially resolvable with some creative thinking and a bit of time, might be better to stick out another year or so where you are and then follow the train lines out into commutersville (allowing for the cost and drag of commuting should you or Mrs WDD need to do that). Although most places within an hour of the centre of London are still pretty hefty wedge for what you get, but you do get a bit more green in the offering.

TTony

If those really MUST be your conditions, then what about this;

https://www.rightmove.co.uk/properties/109200872#/?channel=RES_BUY

I'd say that's a more substantial house, and is a semi.  It's also (according to the Estate Agent) "Sitting within one of NW9's most revered locations" and  "The garden is of a generous size"

(Makes you wonder why they didn't include a photo of the generous sized garden, rather than this backyard?)



Potential for extending into the loft?

Possible to put some sort of stand-alone studio type building in that generous garden?