Hmm.. which option would you go with?

[Arimeh]

Ok - since we have been rejected (oh the shame) for a home loan for some land for a pitiful amount of money - we have changed our thinking and are going to buy a house down here instead (bank is more than willing to lend us lots of money for house, but not land)

So - we have found a couple of houses - and are confused as to what we do - so wanted to run it by my smart girls here at BB.

Would you:-

A. Buy an older type house that is HUGE (4 bedrooms etc, lots of living space) but is on a reasonably small block (530-something sqm) and needs some renovations. About 3 minutes drive from DH's work and the city. Renovations like, the bathroom and kitchen needs doing, plus carpeting, walls, pulling out other walls to make a better living space etc - just mostly internal stuff.

B. Buy a smaller house, on a bigger block, for around the same amount of money - with nothing needing to be done immediately as most of them have just had kitchens/bathroom renovated - but about 20 minutes from the city/work.

Keeping in mind:-
The bigger house has basically two separate living spaces, upstairs and downstairs. So whilst stuff was being done upstairs, we could quite comfortably live downstairs with minimal disruption to our lives. The only thing that would disrupt us is doing the bathroom downstairs, but that could be timed in a trip to queensland or something, so we wouldn't have to be home for it.

Bigger house will eventually need a garage put on the side, but its not critical to be done now. We will have some money to do at least upstairs as soon as we would move in.

Oh, and the bigger house is around 150m from some huge power lines.

Smaller house may be under flight path for launceston airport.

Ahhh the decisions!

[sneakysparkle]

I would go bigger/older - I look forward to renovating one day, so I wouldnt buy a house all pretty and ready to go. As long as it is structurally (sp?) sound. Close to DH's work sounds good too!

[briggsy's girl]

check out the smaller one for the airport stuff

honestly, i'd go the smaller house with land if it's going to be enough for you and your family (given number 3 is it) - a bit of space, as the kids get older, makes for more for them to do. we have the opportunity to sell of one of our house blocks to give us a bit of cash to help out, but we're not doing it as we like the fact we can have our vegies, we can have fruit trees, can play footy out the back.... yes, we have a bigger house at the moment, but i've done the small house thing - if i could have big house small block, small house big block, i'd take the smaller house... plus, reno's can get mighty exxy and will often get left until another day - which means you're living in a house that isn't your ideal long term

only you and DH can make the decision about where to live. ultimately, 20 mins travel isn't far. living out of the city area is great for your kids. you'll make the decision that is right for you both hun

[Curly]

530sqm ain't a big block - longer term I would prefer more room for the kids.

Renos always cost more money and take more time than anticipated - unless you really had a passion for renovation I wouldn't see that as a plus.

With number 3 so close to arriving, I'd prefer a house that was more comfortable to live in right now, especially after all the upheaval of moving.

Plus I'm funny about power lines...I'd prefer to be away from them.

20 minutes isn't far to travel.

Depending on how close it was to the flight path, the smaller house would be my preference.

ETA: Another option is to pick the house you think will appreciate in value the most over the next 5 years and buy that one - 3 minutes to the city surely would be the most likely candidate here. Live in it, make some improvements and you'll have more money to buy the "forever house" in few years time, unless school catchments are likely to be an issue and you need to stay in the same area to get the school you want for your DS.

[Ginger]

i would go option A, definitely, as there is more opportunity for adding value. Over the next few years you can invest any spare money you have into your property, which is adding value to your asset.

[MrsFabuloso]

So many things to take into consideration other than just the houses!
Like what will these areas be like in 5, 10 yrs time? Are you planning on staying htere for a long time? Will the house grow with you? Could you extend/renovate easily in the future if you need to? Do you/will have animals is there space for them? What about ease of 'being' in the house (you mention one is 2-storey) do you think you will be comfortable with how they are laid out? Public transport, schools, day cares, shops, infrastructure etc in the area? Future building for the area? Will the house maintain it's value in the furture if you sell later? Are you prepared to care for a bigger block of land? If you (in the future) and DH have to travel 20+mins to and from work each day, that's 40ish mins less per day (not much really but still...). Will you use the yard much (think weather, inclination to do 'stuff' outside ect...) Will add more if I htink of it....

But personally I think I'd take a bigger house, just cause I'm living in a shoe box now (2br unit) and I HATE it with a passion. I am indoors more with the kids than outside, so it matters to me to have my own space to move in.
The power lines might concern me, but what kind of problems/implications are there because of them??

[Astrid]

I would go for the bigger block for a lot of the things BG has mentions. Saying that though I do live the 15-20 minutes out of town and it is a pita with making friends. I grew up in Launceston, so my full answer would depend on exactly where you were choosing to live. From talking to friends who still live there, there can be a real issue getting tradies for renovations. One live on a bit of a slope,which is far from unusual for L'ton, and they had real trouble getting trades (like roofers) to give them a quote. Depending on the trade many do not want the small jobs, or they are only interested in working on new builds.

ETA: whilst 20 minutes is not far for many of us, my experience in Tassie is that many think it is too far. I was actually one of those people when I lived there :blush:

[Arimeh]

Quick answer for astrid cos I gotta cook dinner - the option A is in Riverside - option B would be someplace like Hadspen or Evandale/Perth/Longford.

[Marlene]

I already commented on FB...but just wanted to add that I would rather live under the flight path than under huge power lines.

[smiles4u]

I might be wrong here but Mel your coming through sounding like your leaning with ' more ' enthusiastic for the 1st house you mention ... ' If ' your doubts are weighing too heavy for both houses i agree don't go with either if your not in desperate need to buy now !!

BUT if i was to choice myself with what you have stated i personally would GO with the 1st house mentioned (the bigger one).

[Arimeh]

Thanks guys for all your opinions - it means a lot

FWIW - they are the high tencile (sp?) power lines. I think we are attracted to this property because there is another one on the market up the road, which is the end product of what this house COULD be potentially - and its on the market for $419,000. So a bit of tender loving care and some serious hardwork - this one could actually make us money (which is what DH likes about it).

He's not sure now about the committment of it, plus you guys raise a good point - renos are exxy and something always pops up so jobs don't get done. I mean, we had all these plans for the house in Nambour - and never did ANYTHING to it until we went to sell it 3.5 years later!!!! And that was nothing compared to the plans we had.

So I think we are leaning more for a nice-ish house of a normal size that I won't crack it in cos its too small, with a niceish size yard - but in a different suburb. Not a "good" suburb as such, but we figure since they are cheaper (and we get good security on the place!) that we might be able to keep it as an investment when I go back to work and then we buy in a better suburb. DH just hates renting with a passion (and I hate listening to him biatch about renting) so I know he wants to get out. We are in a lease for a year though, but the fact that we would be paying mortgage and rent till they found a new tenant doesn't bother him - thats how much he hates it.

I wish my husband was less wishy washy with his thinking and knew what he wanted!! would make it a heap more easier for me.

[Astrid]

DH just hates renting with a passion (and I hate listening to him biatch about renting) so I know he wants to get out. We are in a lease for a year though, but the fact that we would be paying mortgage and rent till they found a new tenant doesn't bother him - thats how much he hates it.

I wish my husband was less wishy washy with his thinking and knew what he wanted!! would make it a heap more easier for me.

Went through the same thing after we relocated. I was happy to stay put, we had a 2 year lease and it was a nice enough house. But, no, he had to go house hunting nearly every weekend. It drove me batter, rather than settling in getting to know the people and the place, we had to trapse around the country side Thankfully we found somewhere reasonable one in the end, but it drove me nuts as he carried on about every place we looked at like we were going to buy it. Made the whole process un enjoyable. There was many a time I was hyperventilating and in tears at the mere thought of buying some of those houses. I would be saying no and he continue negotiating to the agent.

Just put out there what you want in a house and don't feel pressured to compromise just because he hates renting. Good luck.

[Arimeh]

God Astrid that sounds awful.

I don't think DH is that bad - he doesn't like talking to agents, so no chance of him talking to them for something that he isn't serious about.

We found a couple of nice houses in Invermay - and I know typically you stay away from that side of town, being its close to Ravenswood - but I found a nice one closer to the city in Invermay, so surely the crap part can't extend down that far can it? LOL

I have to email our agent today anyway cos they have had 3 different realtors come through in the last week and a half to do valuations - so perhaps the landlord is thinking of selling?

[Astrid]

Invermay used to have a bad rep many years ago, but it has become much better. The usual thing, cheap housing and some of it very nice. Young couple start to move in, do the place up, house pricing goes up, so the "bad" element move on. I used to live there for a couple of years as a kid, prior to that we were in Trevallyn. Glad you know about Ravenswood

[MummyTummy]

Well, if you are in a lease for a year, (providing the landlord doesn't sell and the new owner evict you) which means you have that long to find the house of your dreams (or close enough!!) So I agree with Astrid - work out what you all want and don't want in a house, what you would like and not like (these are the more flexible demands!!) and then stick to it. If a house just isn't quite right, it isn't right. The right property will come up eventually. But you have to be prepared to give it time and not lock yourself in to an unsuitable house just because you want out of renting.

We looked almost solidly for 6 months before we found our house. We put in offers for 2 other houses and all I can say is we were compromising and thank-god we didn't get them. The third house was just perfect (well, as perfect as we were going to find on our budget) and that is the one we got. During that week I was in tears, I was so sick of looking and not finding anything worth it and thought it would never end. Saw the house on the saturday, did a 2nd inspection on the Sunday and put an offer in, by the Monday it was ours. This was due to the fact that we knew this was the place, there was no umming and ahhing and trying to look at the potential. When you look for that long and you have such a defined list it means you can walk in somewhere and know it is right and be ready to make that offer straight away.