Head or heart

R

rosie

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We're at the late stages of a house move ( selling and buying ) sale agreed, contracts partially signed, only booking deposit paid but late stages. A house we had previously bid on unsuccessfully has come up again and the agent told me that the owners ( inheritance ) are keen to let go of it quickly. Its a more charming house and I love it. Both have huge gardens but the one I like less has planning for a second house ( but it would be a complicated build ). WE were specifically looking for a place with development potential as we have a child with a disability who may need assistance with housing in 15-20 years time. The one I love is also €100 cheaper and we could clear the mortgage in 10 years. I'm usually a totally decisive person but I'm really struggling with this one and I only have days to decide. Obviously no one else can make the decision for me but just wondering would you go for head or heart .
 
A few things to consider:
1. inheritance doesn't mean quick sale... We are deep into it, the house we are buying was put up for sale in September, previous buyer pulled out, we went sale agreed on it on February 6th and the EA assured us it would be a quick sale as the vendors were eager to sell. Still waiting on probate grant. So unless probate is already granted, it may take months.
2. planning application: you already have one on the house you are buying, even if it's a complicated build. While the one you like more may have issues with pipes, manholes, etc that render further building more difficult, if not impossible
3. Child with a disability: are you looking for a separate build where your child can live more or less independent, or would you be better off adapting your own house? I have a friend who initially planned for a granny flat for her daughter, but as the years passed, she realised that her daughter couldn't live without supervision so she'll eventually get her home modified
4. I assume the 100€ is a mistype, but if it's considerably cheaper, it may be a better option to clear your mortgage early as a child with disability will likely mean that he will be on a disability allowance, and you would be wise putting aside money for his future.
 
You've got to ask yourself why the original buyer pulled out - could be survey brought out something.
As above inheritance does not mean quick sale, can often delay sales as a number of inheritors need to agree (that's what happened with me on a previous house).
 
This is easy. You go with the one you love. And worry about the problem that will potentially exist in 15 years at that time. With 100K in your pocket and plenty of time to figure out how to solve it, a problem that may meanwhile find other solutions.
 
Thank you for the responses. I'm afraid my husbands head is winning out on this one. Its definitely hard to plan for my son. He could live independently but he may need more support than I hope. One thing I'm sure of is that he will never get a decent mortgage. Thanks again
 
Rosie I am with your husband on this. If the second one causes any untoward delay it could mess up your synching of the move. Given the potential to cause hardship on your child I would stick to current plan. Good luck.
 
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