Purchased a property, but I think I've chosen the wrong one!

As the title says . . went to view several properties during the summer, one in particular was every young persons dream (built in wardrobes, GCH, plenty of space, 2 x double bedrooms and etc). I was then called by the estate agent about a property that was literally round the corner from the property I was living in at the time. I went to view because it was in the area I had always known. It was a toss up between the property in the area I had known, or a property which was modern. In the end I went for the property in the area I had always known, purely for location purposes (easy to get to work, access to the motorway and the neighbouring town I so often visit).

Now several months on, I am in this property and can't help but think about the modern property (which I went to view twice). Everyday it haunts me of what I could have had, and instead chose a 1 bed property which is habitable, but is noway near as 'plush' as the modern flat I had the option of having. I also don't feel 'comfortable' here; it's on the ground floor and everyday I worry and panic that something bad is going to happen, although the area is pretty quiet and has never had any trouble.

I am now thinking maybe I should move? I sunk £40k deposit into the property, and don't have anymore large funds available. I was thinking about the government Help to Buy scheme and finding somewhere that has the scheme. But I am so confused by it that I do not know what to do.

This is probably such a silly thread to many of you here. But I really do need some advice before I send myself stir crazy over what I could have had . .

Thoughts?

Have you ever lived in a modern flat? How'd you know you wouldn't dislike that?

Personally I wouldn't be able to deal with the poor build quality, open plan kitchen and lack of breathability.

You'd need to sell your place (you can't do help to buy if you have a property), your mortgage will have an early repayment fee and overall you'd be down thousands even if you get someone to pay the same as you did.

I'd stay put for a couple of years and get on thinking about other stuff inyour life.

The Help to Buy (depending on what scheme you go for), does allow First time buyers and Existing home owners to take advantage of the scheme . . unless I have misread it? Link

Yes, I know I would need to sell, although there are some developers who are willing to Part Exchange

Also, my mortgage is portable, so I can take it with me wherever I decide to go next.

It was just a thought I had really on the whole matter . . , but I'm not happy where I am now, even with part decorating the place!

How old are you?

Yep, often rushing always leads to mistakes.

Hopefully you do what is best. All depends on you, to be honest OP.

My understanding is that you can use it for moving as well as first time buying.

They will give you substantially less than what the property is worth

You will still need to pay for survey fees etc to your mortgage provider

There's a reason why most places sell in the summer They all look better in the better weather and now its a bit damp and miserable your place will look a bit different.

Personally I wouldn't consider moving yet. It's a huge decision. I'd wait at least a couple of years.

My apologies, I had assumed you were 'rushing' in terms of excitement, but rather it was because of a huge transition and the family home sold. Is there a reason you could not stay with your parents after the family home sold, I am assuming they bought another property? The flat you describe sounds 'heavenly' from my opinion.

You seem to have your head on right, so I think you will reach that desired salary. Was there a huge disparity in cost between the flats? Was that the factor that swayed you?

Your parents sound right, unless it is affecting you mentally then you should be fine and you will be in an even better flat/house in a couple of years with your new awesome salary.

Yes, my mum and dad have told me to stay put for now . .see how the year goes, and then go from there. This time of year doesn't help that I just feel crappy anyway and this place is miserable, plus I have 2 very weird neighbours - 1 seems to like 'choking his chicken' often, and the other seems to like bringing random blokes back every so often - so I hear everything!

Personally I would take the one in the 'good area' any day of the week. Mental security is a big yes.

Now that you've mentioned that you picked the 'good' area, that's all that matters until you get a foothold on life and savings. Trust me no material success or even money in the bank is of any use, if you live in a bad area. Personally for me anyway, just wouldn't enjoy life.

Ah I see, Let me guess! They live in France. I have always found the United States the place to end up, eventually.

Save and get that new job!

As someone who bought her first house may 2013, and then moved out nov 14 due to nightmare neighbours, things i was told was you'll lose the money on fees (solicitor, estate agent, surveys and mortgage), and you willl struggle to sell within 6months of the purchase. I was lucky that my parents gave me the deposit for the second house as due to police involvement they were worried for my safety and just wanted me out. If you can stick it out for another year, see what house prices are doing and go from there. The other option is consent to let from your lender and you go into rented?

You do need to look into why it's getting damp though, is it because you are drying clothes in doors and not opening the windows, or damp proof course is breached. You may find a dehumidifier helps?

Oh gosh - bet that was an utter nightmare? Although I would love to move now, it's the stress and hassle of it all that got on my nerves last year.

I don't know why it's damp. But I did have my 'tall boy' in the corner where there was damp. I moved it and then put bleach on it! They say you're not suppose to do that, but kinda just wanted it gone. But I have left it 'open', nothing is in that corner. So I will watch and see what happens. Because I live on the Ground floor, I don't open the windows often, however I have started 'cracking' it a bit and then locking it because my bedroom was beginning to feel a bit 'stuffy', and a bit 'odd'. Although it's cold, it smells a lot fresher now. Yes I am looking into getting a dehumidifier, however they are expensive :/ And the damp course appears fine (on the outside). But I will watch it and see.