£165,000 to spend - when viewing, what priced houses should I consider?

blondends

Hi All,

I have finally worked myself in to a position where my wife and I can buy a house. We will have about £165,000 to spend in the Cheltenham area.

What I would like to know is when looking at house listings (such as on Rightmove) what is the maximum price I should consider to be with in reach through negotiation? All I am after is a rough figure - because I do understand that it does depend on number of variables.

Thanks in advance!

ginvzt

Look at houses up to £165k - and what you negotiate down keep in reserve for possible works needed on the house or nice holiday after the stressful purchase and move!

Imp

I'd look at houses up to £200,000. We just got one offered at £200,000 for £175,000, they accepted our first offer, so we may have been able to get lower.

pingu2209

I would look up to £200k. However, I would not look to buy now. Wait for another 6 months and review. You are more likely to negotiate better after October. Believe me the market is not going to go up!!!!!

poppysocks1

I would look up to £185k as you may get a good reduction to around the price you can afford. Its also helpful to work out how much money you want to keep back for the following:

Retained in bank for "rainy day"
Solicitors Fees
Moving Costs

As you are buying under the £175k stamp duty threshhold at least you dont need to budget for that.

Also as another poster said, keep some aside for new furnishings or other work that may need doing on the house.

Also dont forget to broaden your search area as you may find something cheaper but bigger if you were further out or in surrounding area (possibly?).