Regular readers may remember that, a little while ago, we put our house up for sale. Those of you who don’t follow me on social media may be wondering whether or not we sold our house as I’ve written absolutely no updates since that initial post. The reason being is that we have taken our house off the market.
We couldn’t believe our luck when our house first went onto Rightmove, the first day of it going live we booked in two viewings, both of whom made an offer. We don’t know how much the second people offered because we had already accepted the first offer by the time they made theirs. We were more than happy with the first offer, it was £4,000 under the asking price but £1,000 more than what we paid for the house. Yes we have spent a lot of money on the house since we bought it but we bought it literally just before the credit crunch and paid top whack for it.
After accepting the offer everything started to go wrong. I called to make an offer on the house that we wanted, but an offer had been accepted on the house just five minutes before I called. We couldn’t find any other houses that we liked within our price range. We were really starting to panic and viewed countless houses but they all had something wrong that we couldn’t afford to fix. We panicked and put an offer in on an absolutely horrible house that needed a ridiculous amount of work and wasn’t liveable. Common sense prevailed and we called back up a few hours later to withdraw the offer.
A little while after accepting the offer I received a voicemail to arrange for the buyers surveyors to come out to our house. I made the phone call a day or two later and was told that the buyers had un-instructed the surveyor and to call our Estate Agent. I called and they were as shocked as I was. They would call the buyers and get back to me. It turns out that the buyers had decided not to proceed, they had instructed their mortgage company but no one else. We were very relieved as, even though we didn’t want to lose the sale because they were paying a decent price, we had no where to go.
The house stayed on the market for a few months, Christmas had passed and houses were coming back up onto the market. We had a few more viewings but none of them came to anything. I was then offered an exciting new job in a photography studio, photography is something that I love and while the job wasn’t doing photography I just knew I would love working in that environment. The job was self employed which made a massive impact on how much we could afford to borrow. I accepted the job and we decided to stay put in our house for a while longer and take it off the market.
Where does that leave us now? Our house is a two bedroom terraced house with an attic conversion, it is big enough for the three of us, we have a lot of stuff so could do with more space but we don’t necessarily need it. We have an office, a fitted kitchen and a big garden, it is more than enough.
There are a lot of things that I don’t like about our house, for example the textured ceilings downstairs, the stained flooring in the bathroom, the yellow walls in the attic, I could go on. We have done quite a lot of work since taking the house off the market, we have painted all of the internal doors white, we have bought new furniture for the attic (ignore Spencer’s desk, it is a mess and I don’t touch it!) but we want to do more and have run out of money.
We’re not really sure what to do now, do we take out a guarantor loan? There are companies who offer loans for as little as 12 months and as small as £1,000, this would be just right to tide us over and tidy the house up.
Or, do we just leave the house as it is and hope that my job leads to something more sooner rather than later? Do we really want to spend money on the house if I’m potentially going to get taken on as an employee in a couple of months time meaning that we will once again be in a position to move?
Realistically we could move now, there are currently two houses on the market that we like the look of and could afford. But that is it, two. If those two are gone when we come to sell our house we may not be able to afford anything else and will be back in that horrible position again.
What would you do in this position? Stay put and do work, stay put and leave it as it is or risk it and re-market it?