We had an offer accepted on a house in the UK, way back in early October. Since then, there's been one obstacle after another, and we've finally taken the decision to pull out of the purchase. We really loved the house, and it was going to be our home to retire to (in a year or so), but we would still have been into spending money on it to make it 'our' perfect home. It simply wasn't meant to be, and that's OK, we're fine with it.
We've lived overseas for many years, but we still own a property that we used to live in, in the UK, which we've been renting out. We have recently regained possession of the property, but sadly it's been left in quite a bad state by the tenants, and it will need quite a bit of work to 'tart it up' if we decide to sell it.
After going through the last few months of stress and hassle, trying to purchase the other property, we are now considering whether to keep the house we used to live in, and totally gut it, to the point where we literally have it exactly as we want it. Or, do we 'tart it up' to sell, and embark on the stressful process of trying to purchase something else before DH retires?
My view is that, even if we did manage to purchase a suitable property, it probably wouldn't be exactly how we want it, so we'd no doubt still have some work to do to get it to be 'our' perfect home. Whereas, if we totally gut the house we already own, although it will cost a lot of money, we will end up with a house exactly as we want it ... and it probably wouldn't cost as much as purchasing another property, plus the cost of any alterations. Also, we wouldn't be living in the house, so all the work could be done before DH retires, and we're ready to move into it. We do also have lots of contacts for people who could carry out the work.
DH is almost on board with me, but he has this idea that he feels he hasn't 'moved on' if we move back into the house we used to live in, even though it could end up being 'our perfect home'! We both still like the house (but not in its current state!), and we have no mortgage. We have a budget set aside to be able to completely refurbish it (within reason, of course!).
Buying property is such a hassle these days, I really don't know if we can stand to go through all the stress again ... it's worn us out!
What are other people's thoughts on this? Anyone with experience of going through a whole-house refurb themselves, with any tips/advice?
Gransnet forums
House and home
Completely 'gut', or sell and re-buy?
(54 Posts)Do you like the area your house is in? Can you see yourself there in twenty years? Does it have facilities close by should you be unable to drive?
If I liked the house and the area I would probably spend the money doing it up to my specifications and getting it the way I wanted. I would think about future proofing when I did that. But, I understand your husband's point of view too.
I would stick with what has been suitable in the past and spend on making it perfect rather than venture into the expensive unknown searching for perfect!!
I would do the refurb. Not only will you be getting the home you want and avoid the hassle of buying, you'll also avoid stamp duty. If you buy I'm sure you will still want to change things, I've never found a house that was perfect, it was always perfect with a new kitchen or new bathrooms or with this wall knocked down!
I agree with grandmaB provided you have shops, GP etc close by I would gut that house. It will cost you less in the long run. If you do, please think about future-proofing as one does not know what is around the corner medically.
I agree with your husband, I’m afraid. Something about that house must have made you decide to look for another one, so no, I would sell it and move on to find your perfect house. It will cost you more to do that, but you’ll end up happy in a place you really want, rather than a compromise. I don’t think going back to somewhere you’ve lived before works.
Is the house is in an area you like, has good transport links (there may be a time when you both have to stop driving), shops, GP, within walking distance, along leisure facilities.
If it’s a yes to these I would refurbish in order to get the home of my dreams. It is very rare to buy a property which ticks all your wants and needs.
Sell.
I always think you can't revisit past chapters.
I'm definitely a pastures new person.
Location, location, location, whichever suits you best now and in the future. Were you happy in your old house? Do you still have friends and family nearby?
However, DH always says "it is best not to revisit an old ship"
“The past is a foreign country, they do things differently there”
Only if you really loved the house and the area would I move back.
A new start for a new life would excite me.
Nansnet - If your reason for renting out the house was purely to live abroad and not because you were fed up with it/too small or big/poor location then the refurb would be best IMO.
We did something similar 20 years ago and happily moved back in on our return with renewal of certain things and saved a lot of hassle, let alone money on fees etc.
So glad we didn’t sell and end up searching for something that probably wouldn’t come close to what we have now. Only you know how happy you were in that home!
Imagine yourself 18 months from now with all of the work/ hassle out of the way. Quite simply where would you love to be living? In my opinion any house can be made homely, extended and updated to suit your taste but the right location will ensure a happy future. Good luck Nansnet!
If the house is in an area you want to live in I would renovate that one. Take some time to work out what you and your husband want from a house - once it's renovated it won't be going backwards as the house will be like new.
Thanks you all for your responses. There's certainly lots of good points raised, and things for us to think about.
Grandmabatty & GrannyGravy13, we do like the area, and we wouldn't want to move far anyway, as we have family & friends in the area, which we think is important. We can also see ourselves there throughout retirement, as there are good local facilities, doctors, shopping, library, leisure centre and transport links.
Juliet27, the expensive unknown is a concern to us, particularly during retirement with no regular salary coming in, and living off our pension/savings. This was a concern with the property we have just pulled out of, which was beautiful, but old ... We had the necessary surveys, and a structural engineer's survey, which did reveal a couple of issues ...
foxie48, yes, avoiding the dreaded stamp duty would most definitely be a bonus! And, even though the house we were trying to purchase was beautiful, if I'm honest, it still didn't have the kitchen I've always longed for, which I'd be able to have if we refurb!
Casdon, one of the main reasons we decided to look for another house was the fact that we'd had long-term tenants renting, and it no longer felt like the house belonged to us. We certainly couldn't live in it the way it is, but, by completely gutting it, and having everything new, I'm certain that would any longer be a problem. Although I do understand your comment about 'not going back to where you've lived before'.
Callistemon21, we actually only lived in the house for about 2 years, but we were very happy when we were there. The location is on the edge of a town, and very close to the countryside, so, the best of both worlds!
annsixty, We were happy with both the house and the area, although I do totally understand your comments, and I think this is what DH is struggling with...
Pantglas2, yes, the only reason we rented the house was because DH's job moved us overseas, otherwise, we'd probably still be there. We've already spent a lot of money on solicitor's fees, surveyor's fees & a structural engineer's report, which we'd have to pay again if we found another property! And, there's no guarantee that wouldn't fall through too! It's such a costly business, buying houses!
After discussing with our DS & DD, they both seem to think a refurb would be our best option. Now, I just need to convince my DH! But, seriously, it does have to be a joint decision, and I wouldn't want to do anything that we weren't both happy with.
Show DH this thread.
It may help him decide that your old house, refurbed, is the best plan.
keepcalmandcavachon
Imagine yourself 18 months from now with all of the work/ hassle out of the way. Quite simply where would you love to be living? In my opinion any house can be made homely, extended and updated to suit your taste but the right location will ensure a happy future. Good luck Nansnet!
keepcalm, I'm pretty certain that in 18 months time, in 'our perfect home', I'd be very happy living that house, in that location ... I just need to make sure DH would be too!
Whether you renovate or move depends on the condition of the house, if it is structurally sound with a good roof renovate it, change the layout and insulate it up to modern standards.
It will be expensive but you will get the value back in figure years.
AreWeThereYet
If the house is in an area you want to live in I would renovate that one. Take some time to work out what you and your husband want from a house - once it's renovated it won't be going backwards as the house will be like new.
AreWeThereYet, My thoughts exactly!
I would do the refurbishment. Similar thing happened to me, let out my house whilst away for 2 years, agents did not fulfill their remit,the house was trashed, took all my savings to refurbish it, but at least there'll be no traces of disgusting tenants when it's done. A new home, clean slate.
fancythat
Show DH this thread.
It may help him decide that your old house, refurbed, is the best plan.
fancythat, Good idea!
I would do up your existing house. No legal or surveyors' to pay and no stamp duty. But do it properly - remodel if necessary - and don't worry too much about the cost.
How refreshing to see your answers to our thoughts Namsnet. So often we have no idea whether posters even read them.
Juliet27
How refreshing to see your answers to our thoughts Namsnet. So often we have no idea whether posters even read them.
You're very welcome! I'm reading them all!
Dinahmo
I would do up your existing house. No legal or surveyors' to pay and no stamp duty. But do it properly - remodel if necessary - and don't worry too much about the cost.
Sounds like a good plan ... I'm sure DH would be very happy for me not worry too much about the cost!
I'd not want to pay all the costs to sell and buy again, seems a waste of many that could be spent on refurbish. You know this home, know the area and like it, and are looking towards a lovely kitchen. Keep the house.
However, I'm one who lives in a home purchased from my grandparents estate when I was 16 and my husband was 18 (I'm pushing 80) - my opinion is typically to stay on. We've added on, semi-renovated. Our home will see us out quite nicely, likely be torn down (sell the land) when we're gone.
Opinions vary and rightly so.
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