Should I stretch myself?

[Sparkzz]

The initial message was deleted from this topic on 02 December 2018 at 19:57

[Sparkzz]

lee_fr200 said:

I would! It's a lot of house for the money with scope of development and the potential to go up a lot in value

Go for it

Also don't forget you don't have to ask the asking price put an offer in at 20k lower

That sounds positive. I must admit this whole process is terrifying me, I haven't got anyone to seek advice about buying from and really don't know what sort of offers are appropriate to make. I have considerable practical skills so doing the work and maintenance is fine, but the financials are lost on me.

Thanks

[Sparkzz]

Condi said:

If you can getting a lodger can make life a whole easier. You can earn £7500 a year, which the mortgage company wont take into account for affordability, but will pay most the mortgage and some of the bills. Go for a 35 year term, borrow as much as you can, overpay where possible.

At least you dont have to do anything with it, although an energy rating of F suggests that new boiler, new windows, and possibly some insulation would be sensible investments.

I'll probably heat it with a wood burning stove and have an electric shower for convenience in the summer. I don't think anyone would want to lodge to be honest, it's rural out here and you can rent a house for 300 per month. It's a good idea though, having been the lodger, I'm not sure if I'd want one! haha.

Thanks