Heart Versus Head

The past few days have been a little nerve wracking.  As I have previously posted,  our planned downsizing project has suffered a few mishaps over the past few months and so we have had to stop, reconsider, and rethink our plans.

We have come to realise that in the current housing climate here on the island, properties within our original budget (i.e. the same price range as the house we have just sold) are in great contention with too many buyers chasing too few properties.

A week or so ago, whilst trawling through the agents' websites on my daily search for a new home, I happened to see a rather lovely home that caught my eye.  It was quite a bit over our budget so I didn't look too closely.  However, as we were disappointed once more with yet another sensible bungalow snapped up before our very eyes, I couldn't help but take another look, and another.   Each day it was like a siren call, inviting me to gaze upon it and wonder at its beauty.  

I checked our finances and tentatively broached the subject with P about the possibility of dipping into our retirement pot to finance a more expensive new home.  After all, we realistically only have around twenty more years before us so perhaps we could take out a chunk from our savings and buy something we love rather than settle for something that is the best of what's left.

Eventually I persuaded him to view the house and I think he fell in love with it as much as I did.  Our offer has been accepted and we are now just waiting for a survey report, due to be done on 1st September.

Here's hoping.



47 comments:

  1. Fingers and toes crossed for you. Living in a home that you LOVE will make up for the occasional budgetary rearrangement - and there are no pockets in shrouds.

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  2. My fingers are crossed for you Jaycee.

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  3. I really hope that you get this one JayCee. If you do, you might think of it as a home for ten years and then after that you could downsize to a two bedroom retirement flat in Douglas. Not what you originally planned but it makes sense.

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    1. Ten years would be good, then perhaps a little place in the nearby retirement complex. I think we should enjoy the here and now and not worry too much about later on.

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  4. It sounds like you've done the right thing, good luck.

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    1. I really hope we are doing the right thing Marksgran.

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  5. You are not the only ones in this position. A few nights ago we met a lovely young man who, with his wife, used to live next door but one to us. They sold their home a few months ago, after spending a few years doing it up very nicely, and had their eye on another property, but that sold sooner than they were able to move on it. They are now living with her parents, and watching house prices rise to a point that they can't afford. They'll widen their search area, and I'm sure they'll make a lovely home elsewhere, but wish they'd stayed put!
    I agree with you about not being able to take it with us!!

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    1. This whole situation has only blown up in the past few months. I keep being told to wait until it all calms down but we may not have that many years left!

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  6. I suppose the fact that the survey is not possible until September says something about the state of the housing market. I do hope all goes well for you this time.

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    1. Yes, that was the earliest possible date for a survey inspection. Surveyors and estate agents are having a bumper year so far.

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  8. Bide your time JayCee. There's a recession on the horizon again.

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    1. Oh goody. Something else to look forward to.

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  9. Sounds like you may land on your feet after all. Well done!

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    1. Thanks Chris. Nervously optimistic for now.

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  10. As long as you end up somewhere you like, that's what matters! Good luck!

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    1. Thanks Ellen. Grab the good things now while we still can!

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  11. I am keeping everything crossed for you.

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  12. Are you concentrating on one particular area? Maybe it would be interesting to look somewhere you'd never previously considered.

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    1. We are only interested in either the north, west or south of the island and close to a town's amenities. That has narrowed down our options but I know we would not be happy elsewhere on the island and the UK is not an option for us either.

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  13. Hope this time things go to plan.

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  14. Oh this IS good news. I think it's worth investing in a property which is a little dearer but has stolen your heart and you aren't competing to buy it with the world and his wife! I hope it all goes smoothly. I think you were meant to have it . . .

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  15. P.S. Your money is better invested in property than earning so very little in the bank these days . . .

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  16. All the best . Hope everything's goes just as you want it to

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  17. Why are you having a survey done? I don't understand, if you want it go with your gut instinct and buy it.

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    1. Well, it was built in 1851 so we just want to be confident that we won't end up with any unexpected large repair bills once we have eaten into our savings. However much I love it, I am still cautious.

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    2. If I were you I'd go for a luxury apartment of your heart's desire and be done with ever moving again. You have a beautiful island, walks, sea and countryside. What more could you want and no maintenance.

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    3. It may yet come to that Rachel if this one falls through too.

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  18. Oh JayCee …. I’m so pleased for you both …. I said the one that you lost was not meant to be and that something perfect would come along…. Here’s to a smooth completion. XXXX

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    1. Thank you Jackie xxx
      I really hope that this one is successful.

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  19. Sounds great but I'm wondering why your offer on this one was accepted when the others have been so competitive.

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    1. Tasker, this one is a little quirky and in a higher price range so there is much less competition for it than the standard bungalows we had been looking at.

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  20. Thought of you this evening JayCee when on Gardeners' World they visited a series of gardens literally on the shore at the back of some lovely colourful terraced cottages somewhere on the I O M. Some winters their gardens were ompletely destroyed by the sea and inthe Spring they had to start again. Did you watch it? If notit is well worth watching on iplayer.

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    1. Weaver, yes I watched that last night. I know that row of cottages. A lovely spot but quite exposed, as you saw.

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  21. That's amazing. I'm so glad you have something in your sights now. I agree that it is better to spend a little more for something you want that to accept something you don't want. Property will always hold its value if not increase over the years, so if you need to downsize in the future or need it for care, say, in ten or fifteen years, you can think of selling again then or even go for equity release.

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    1. That's the current plan...if we last that long!

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  22. Well now that was not where I expected this to go, but how wonderful for you!!! I can't wait to see what happens next.

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    1. It may all go pear shaped but, hey, we may as well go for it while we can.

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  23. Oh my goodness, JayCee! I have everything crossed for you....
    xxx

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