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  • FIRST POST
    • samsam89
    • By samsam89 12th Sep 17, 5:24 PM
    • 106Posts
    • 34Thanks
    samsam89
    Another 'what to offer' thread
    • #1
    • 12th Sep 17, 5:24 PM
    Another 'what to offer' thread 12th Sep 17 at 5:24 PM
    Sorry, it's another one of those threads.

    Basic gist: Sold our property and staying with in laws. Have £50-£60k in savings plus a little bit more invested in a 5 year dividend scheme which negates need to pay tax or NI (roughly £6k). We are currently saving between £1000 and £1500 every month.

    We are (fingers crossed) able to borrow £190-200 - meeting broker next week. Perhaps slightly less.

    A small development of houses are due to begin construction in the next 2 weeks and one is on at £280k. They are set to be completed in 9months and have a non refundable reservation fee of £1000. They aren't registered for HTB and don't appear to want to do so.

    Is this too optimistic as a price range, taking into consideration offers? And what would be a good starting point if so...

    http://www.rightmove.co.uk/new-homes-for-sale/property-50169732.html

    Yes, I know a property is worth what someone will pay for it.
Page 1
    • Crashy Time
    • By Crashy Time 12th Sep 17, 5:35 PM
    • 4,839 Posts
    • 2,107 Thanks
    Crashy Time
    • #2
    • 12th Sep 17, 5:35 PM
    • #2
    • 12th Sep 17, 5:35 PM
    Others here will no doubt disagree, but if you pay 280k for that you are definitely going to lose money IMO. The 9 months might be a godsend because if the market deteriorates in that time you have a chance to pull out, and will have been building up your cash cushion, losing the 1k is no big deal in that situation because you will be saving much more in the long run. If you enjoy being at the in laws, and they like having you there, why not stay on a while?
    • Cakeguts
    • By Cakeguts 12th Sep 17, 6:57 PM
    • 2,745 Posts
    • 3,770 Thanks
    Cakeguts
    • #3
    • 12th Sep 17, 6:57 PM
    • #3
    • 12th Sep 17, 6:57 PM
    How many cars have you got? The cheapest plots which look as if they are going to be 4 and 5 have what looks to me as less parking than all the others.
    • samsam89
    • By samsam89 12th Sep 17, 7:23 PM
    • 106 Posts
    • 34 Thanks
    samsam89
    • #4
    • 12th Sep 17, 7:23 PM
    • #4
    • 12th Sep 17, 7:23 PM
    How many cars have you got? The cheapest plots which look as if they are going to be 4 and 5 have what looks to me as less parking than all the others.
    Originally posted by Cakeguts
    Just the 2. Interestingly the bungalows are the cheapest at 270 & 275.
    • diggingdude
    • By diggingdude 12th Sep 17, 7:28 PM
    • 37 Posts
    • 40 Thanks
    diggingdude
    • #5
    • 12th Sep 17, 7:28 PM
    • #5
    • 12th Sep 17, 7:28 PM
    I may be wrong but in my experience I have never been to a development which will negotiate price unless they are trying to flog a problem one. Good luck regardless
    • glasgowdan
    • By glasgowdan 12th Sep 17, 9:42 PM
    • 2,420 Posts
    • 2,707 Thanks
    glasgowdan
    • #6
    • 12th Sep 17, 9:42 PM
    • #6
    • 12th Sep 17, 9:42 PM
    I don't think you can afford these houses. They'll sell to people who can and you are probably best to keep looking.
    • samsam89
    • By samsam89 12th Sep 17, 10:24 PM
    • 106 Posts
    • 34 Thanks
    samsam89
    • #7
    • 12th Sep 17, 10:24 PM
    • #7
    • 12th Sep 17, 10:24 PM
    I don't think you can afford these houses. They'll sell to people who can and you are probably best to keep looking.
    Originally posted by glasgowdan
    Thanks. I think it's touch and go depending on price. If the price came down slightly I'd be more optimistic, for example if the developer doesn't sell them quickly then I think we could afford one as they'd be more willing to negotiate. Average sold price for 3 bed detached in area is £257k which we could afford, but just a lack of property makes it hard.

    We are continuously looking nonetheless!
    • juniordoc
    • By juniordoc 12th Sep 17, 11:36 PM
    • 154 Posts
    • 104 Thanks
    juniordoc
    • #8
    • 12th Sep 17, 11:36 PM
    • #8
    • 12th Sep 17, 11:36 PM
    Worth waiting a few weeks to see where they are with offers and see how your savings are stacking up. Be patient and in a while they might accept an offer. Good luck!
    • Crashy Time
    • By Crashy Time 14th Sep 17, 5:35 PM
    • 4,839 Posts
    • 2,107 Thanks
    Crashy Time
    • #9
    • 14th Sep 17, 5:35 PM
    • #9
    • 14th Sep 17, 5:35 PM
    It`s nothing special in the middle of nowhere, save your money IMO, there will be bargains when they are forced to raise rates and Brexit comes off the rails.
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