Is any house tempting you?

GracieP

I got a property newsletter in the post today which had a sort of interesting looking house in it. I looked it up on rightmove, out of nosiness - I'm not planning on buying for at least 18 months. But while searching for it I saw a much, much nicer property at a lower price which just came on the market. It's an absolutely lovely house, with a great garden. And although the area would not be my first choice a friend of mine lives two streets away and it seems alright.

The asking price is £355k, which seemed relatively reasonable. Out of curiosity I looked on nethouseprices and saw that a similar property sold in 2005 for £310k. In 2002 one sold for £210k. And in 2001 several sold for £185-195k. I know there may be differences to the houses and they may have been in completely different states of repair, but it's really made me feel my idea of what a house is worth is completely screwed up.

I thought £355k was overpriced, but not too overpriced. But now I think it probably needs a 30% fall to get into the realm of value. Perhaps I've totally over-estimated the area and it's actually a crap-hole. I think the high-street there is awful, but the residential streets full of detached houses and lots of greenery seemed ok to me. And my friend has never had any trouble there.

This is the house.

beingjdc

I think this one's not bad value, but it's triple my budget and further from the office (in SW1!) than I'd like to be

http://www.rightmove.co.uk/viewdetails-18038647.rsp?pa_n=1&tr_t=buy&mam_disp=true

dopester

GracieP wrote: »

I thought £355k was overpriced, but not too overpriced. But now I think it probably needs a 30% fall to get into the realm of value.

Don't know the area, but can see it is London way. 50 or 60K tops.

PasturesNew

I followed your link and thought I'd find a property that I'd choose in that area, in keeping with my budget.

And ... *sniggers* ... I found this bijou example:
http://www.rightmove.co.uk/viewdetails-22045610.rsp?pa_n=12&tr_t=buy&mam_disp=true

Surely this is a converted garage on the side of a council house??

And if you think the outside looks odd.... you just check out the interior for taste and finesse!

GracieP

dopester wrote: »

Don't know the area, but can see it is London way. 50 or 60K tops.

You really think £50/60k for a detached house with a 40"x90" garden? I think you might have been a bear for too long.:p

GracieP

PasturesNew wrote: »

And if you think the outside looks odd.... you just check out the interior for taste and finesse!

I think a very small princess must have that bedroom.

GracieP

beingjdc wrote: »

I think this one's not bad value, but it's triple my budget and further from the office (in SW1!) than I'd like to be

http://www.rightmove.co.uk/viewdetails-18038647.rsp?pa_n=1&tr_t=buy&mam_disp=true

Why can't they hurry up and invent Star Trek style teleporters?

PasturesNew

Speaking as a single person, it's really quite unfair that for £X in any area you can get a tiny rabbit hutch in a dodgy area, yet for only 2x£X you get nice posh places.

Anybody got any spare men lurking about?

I need that essential 2nd income generator really.

LilacPixie

PasturesNew wrote: »

I followed your link and thought I'd find a property that I'd choose in that area, in keeping with my budget.

And ... *sniggers* ... I found this bijou example:
http://www.rightmove.co.uk/viewdetails-22045610.rsp?pa_n=12&tr_t=buy&mam_disp=true

Surely this is a converted garage on the side of a council house??

And if you think the outside looks odd.... you just check out the interior for taste and finesse!

OMFG that really is just a converted Garage. would someone really pay 150k+ for that??

PasturesNew

LilacPixie wrote: »

OMFG that really is just a converted Garage. would someone really pay 150k+ for that??

Well, on the basis that it's all relative ... it's feasible.

Personally, I would only buy somebody's converted garage if it were detached, a little more tasteful looking and afforded a little more privacy. Also, it would have to be in a nicer part of town.

But, at the end of the day, if any property makes good economic sense, then that's what you buy.

Ultimately, I plan for my house buying budget to be £150k, in 5 years' time.

neverdespairgirl

A little while ago, we stayed in a hotel at a last-minute, bargain rate.

The room was extraordinary. Pink wallpaper and bedspread and curtains, lilac carpet and bed linen, and those really fluffy white cushions.

OH took one look, and said, "no hetrosexual man decorated this...."