Hmm.. which option would you go with?

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!

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!
:)

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

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.

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.

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??

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:

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.

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

Having older children i would take closer to the city, the less you have to drive them around to see friends/PT jobs etc the better. This would only be if you are planning on staying there a few years obviously!

Just a comment on adding value to the asset, I guess I see the asset as being the land. That's what's going to appreciate in value - the house itself will depreciate. So personally, I'd go the bigger block. But that's coming from someone who is looking to one day buy a house we like rather than one to 'do up' as we'd be one of those couples who never gets the renos finished, LOL.
GL with your decision, mate.

hmmm good and bad for both but I think I would go smaller house more land under flight path!!

Launnie airport doesn't get that much traffic compared to other airports. Something to consider.

I would go for option A, because that's something that's really important to us - being close to town and close to work. But everyone has their own priorities, so I think you need to work out what's more important to you.

Financially, well, you could't go either way. Launnie's still got a bit of space to sprawl out into, so I don't think a big block has as much chance to appreciate as one with proximity to town.

Maybe flip a coin/use a dartboard/rock off with DH. Use some ridiculous arbirtrary method to get an outcome. If you feel disappointment when you get a result, then go the other way. But if you feel elated, you've got your answer.

:D

There are just so many things to think about. We had a good size block in queensland (837sqm) but the house itself was only 93sqm - so we were absolutely busting out of it with two children, hence why we had to move.

So I think my main problem with getting a smaller house is that we may not have bothered to move ya know? If we are just going to be squished into a small house on a good block - may as well stayed where we were!!

DH is just all over the place with his decision making - one moment he doesn't want the committment of having to do renos to get our money back if we decide to sell, and, well, to me, its not all about money ya know? I do like the fact that we made 70 grand by selling our house in Queensland, but I'm not expecting to make any money on property, I just want a house that doesn't give me the absolute irrits by being too small, with absolutely no storage space. It doesn't help that I live with a hoarder and we have sooooo much CRAP its unbelievable.

Plus, Astrid is right - there is a weird mentality here that if you are more than 10 minutes away from the city - thats wayyyy too far to live out there. Its very odd. Ourselves we don't mind too much, we lived in Nambour and that was a good 20 minutes away from anything on the coast. Riverside is a good suburb and close to the city so definitely has its advantages there. I'm also looking at other properties now - because DH isn't sure if he wants to just get a place to get us out of the rental crap and then we'll just live there till we are ready to move (ie, when I go back to work and start bringing in an income) and thats when we get the house that we want.

flight path or power lines I would say neither keep looking !

been someone with older winkies they DONT use the land ! how much bigger are we talking, is it acres or just like 800sqm 550 sqm is tiny as far as land goes, but you will be close to work / city, if you are planing on saying there in Tazy forever and this would be you forever house, you should check out schools in the area, see what the towns are like, you might find the one which is better than the other... ( I know small towns can be very hard to break into when your not a local unless your born and bred there so keep this in mind too )

Also check out what the PT would be like witht he house which is out of town, as when you have older children they will want to be dropped off and picked up a fare wack, look at if there are things for the kids too do in the smaller town ie out of school sports, places for them to get a part time job when the time come for it... just loads of stuff that isnt on your mind right now but you might regret if you stay forever and didnt think about it now...

I know in Tazy 20min drive is HUGE and everyone will think you crazy for driving that far... plus if you choose to go back to work once the kids are at school it would mean you driving in to...

Ok I know I havent been much help, the decion is yours and DH's to make, I hope some of my ramberling has made sence and given you something to think about...

:

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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.

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Ah, now that helps.
I would go option A. Riverside is quite nice and the schools are good. The buses there were reasonable for Tassie standards.

If you were to go option B, you would need to check out which highschool each town goes to. If it is Cressy, then no way. I would just never go Longford, but that is personal, DH grew up there. Never got good vibes from Perth for some reason. Evendale is nice, so of the 3 I would pick Evendale. Not too sure about Hadspen.

Ok, my main recommendation. Wait. Get to know Tassie a bit better first before jumping in. There are lots of great little places about. There are some great spots down the Tamar River.

Have fun deciding. I know when we looked at moving back, there was always someone who did not like the areas where we were looking in.

I think it's a decision you have to make hun - but a smaller house would mean less cleaning ;)

I think I would keep looking too.... I think the proximity to town is a really really big draw card. He could walk you only need one car, If the schools are good - which usually the closer the cBD the better the schools...
I wouldn't go flight path - too much pollution both noise and aviation fuel. Not good. The power line thing... Are they high voltage? If not thern they are probably the run of mill ones that most of us are subject to.

I would go larger house smaller land. Less maintnenance and there are lots o parks. Good luck with your decision... :hug: