The House next door!

M

mags345

Guest
Hi all, I'm hopin for a bit of advice here.the property next door has just gone up for sale? would it be a wise choice to but? we're a semi-d and next door is a semi d also.
wot do ye think?wise move?

Sorry for being so vague before. heres my situation. My family own the house and were thinking about buying the house next to us between us together. we dont plan on making into one large house. we will leave it as two houses and were wondering when we sell on in later years will it be of any benefit to us that we will be selling both together?
 
Are you talking about buying and keeping both to create a detached of sorts? Can you elaborate?
 
You'll have to be a bit more specific here with the question you are asking. Like do you own the house you are in and want to buy the house next door, or do you rent the one you are in and like the area or should you buy a house at all anywhere???
 
Are you planning on building an extension between the two houses and creating one realy large house?
 
She doesn't say that they are adjoining - maybe a tunnel underneath linking the 2?
 
mags345 said:
......we're a semi-d and next door is a semi d also.
Click to expand...

.... wow what a coincidence! how did that happen - did you know when you bought your semi-d that the house next door was also going to be one! I'd have only bought a semi-d if the house next door was detached - but hey that's just me!
 
Your query is hard to understand so please clarify. Are you renting your own house at present and like the area and would like to stay there? Do you own the house you live in and think its a good idea to buy the one next door with a view to renting it?
If you tell us more, you might get some good advise.
 
It depends, if you want to buy in order to link the two houses, assuming that you own the one you are in - check out the possibilities with an Architect and a Surveyor? You will also want to think about your future resale prospects if it is in a large estate of average sized houses it might be difficult to get a good return on a super large house in such an estate as people with that kind of money will usually opt for a house in a small exclusive development or a detached one on its own land.

If you want to buy to rent it out, while this is a good way of keeping an eye on your property, do you really want to be that accessible to your tenants?

If you are renting at the moment, like the area you are in and can obtain and afford the mortgage, go for it, why not it is a buyers market after all.
 
Hey guys i edited my query there so would be great if ye could get back to me one it plz.thansk for interest so far
 
mags345 said:
Sorry for being so vague before. heres my situation. My family own the house and were thinking about buying the house next to us between us together. we dont plan on making into one large house. we will leave it as two houses and were wondering when we sell on in later years will it be of any benefit to us that we will be selling both together?
Click to expand...

No real benefit because you'll still need to find 2 buyers, with 2 seperate sets of negotiations, 2 sets of contracts etc. You might save a bit on your Estate Agent & Solicitor fees by negotiating a discount for handling both deals, but in the greater scheme of things this will be a small amount.
 
Its a disadvantage - selling two identical houses at the same time - not smart.

Would also possibly cause massive rows - 'you sold yours too cheap etc etc'.

What possible advantage do you see?
 
The only significant benefit would be if there was marriage value in combining the site area of both houses, which might allow for development potential.
 
I agree with eamonn123456. In addition, two houses selling beside each other always makes me wary. Potential buyers will ask why two houses are selling out - bad neighbours?? etc

From an investment point of view the phrase "eggs and one basket" springs to mind. If you feel you wish to invest in the current market, I would recommend diversifying and looking at other locations. Obviously buy in an area you know well or have researched thoroughly.
Two houses in the one location is just too much of a risk.
 
Unless you really fancy having two chains going at once, what doesn't kill you makes you stronger.

A single chain would seem like a walk in the park after that.
 
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