Tuesday, 2 May 2017

Home Buyer Diaries #3: Post-Survey Stress

I've hinted in a few posts that we've found another house, but I haven't wanted to scream and shout about it because we haven't yet signed the contract. And, of course, based on our experience thus far we DEFINITELY aren't in the all clear. I'm still slightly aware and terrified that they're going to steal this one away from us, too. I literally couldn't even bear it.

The house is definitely more perfect for us than the house that we lost. (Everything defo happens for a reason!!). We really love this one - all stone walls, quarry tiles, spiral staircases and climbing flowers around the front door. Swoon. I cannot wait to be living in it and making it ours with all our furniture and paint and bits n bobs. Mr Puddles can climb stairs for the first time!

However, before everything is finalised and we sign the contract/hand over all our savings etc etc, we had to have the survey - to make sure the house isn't falling down and all that, yaknow. The survey itself costs a pretty penny depending on what level of scrutiny and thoroughness you would like - we went for the mid range one which was right for us. Now, it's important to note that our house is over 250 years old so we absolutely expected work to be done on it, but I think we were maybe a bit naive about how much would need to be done. Because WHO KNOWS ABOUT DAMP PROOF COURSE AND CHIMNEY STACKS? Not this gal. Sorry.

The survey picked up on a million and one things that were wrong - most importantly lots of damp and timber issues (the worst fucking kind of issues...) and suggested chimney repairs. It also recommended we get another more specialist survey just to look at all the damp and timber problems. This turned out to be a very common thing so if you have something similar back on your report - don't fret!! It doesn't mean your house is a shit heap. It does mean you have to shell out another couple of hundred quid, though.

It turns out that the repairs are costing more than a few grand, that we just don't have. So it's all about negotiation now - we are hoping the vendor will pay to get it done. Otherwise, we will hopefully be able to get the cost of the works knocked off the offer so we can get it done ourselves. BY THE WAY: I didn't know that if you manage to get the money knocked off the price, you can arrange with the bank for them to give you the money you've saved if you're lending the same amount for your mortgage. (For example, 120k mortgage and offer knocked down to 115k - the bank will often still lend you the original amount to get the works done). I know it sounds obvious but I didn't actually know how it worked. So it's worth knowing!!

This is actually kind of a super boring post, but I just wanted to brain dump. I've been feeling super stressed about all this, worrying that the vendor won't be receptive to our offers. Only time will tell now I suppose. Hopefully my next post will be more positive and we'll almost be ready to move in!!


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