How much should I offer.

capstain411

Hi,

Me and Mrs Capstain, in full time job, with no threats to jobs. Combined salary of £75k.

Savings of £69k. We aim to save more every month from next few months. We have seen a 3 bed link detached with asking price of 250000, in West Brom.Suits both our jobs and ticks boxes for ideal house. Want to stay there long term.

Two houses for sale on the same street. Two house next to each other, identical structurally. Last house might have been sold for £230k. Guessing because SOLD STC just 2 months ago. But house I am looking has bigger drive,conservatory and bigger garden.

House 2 has smaller drive, no conservatory and smaller garden.

The house is very near, approx 200 meters from Junction 1 of M5. Firstly I am worried about the noise of motorway. Anybody living near motorway can you please share your experience about noise.

The house needs new boiler. Now comes the weird bit. The house from front looks to have garage, but that is in actual fact is just the door in the front. The garage has no roof. So factoring that the house needs new boiler, garage roof and decoration in all the rooms. How much should I offer.

I have checked the sold prices,houses sold for £230-£240k in 2005-2006.Similar house, my guess sold for £230k 2 months ago.I have viewed that property and did not require any work although a little bit dated from inside.

Thanks in advance.

hazyjo

FYI, there was a recent thread on motorway noise: https://forums.moneysavingexpert.com/discussion/2878522

Sounds like it's classed as 'secure parking' rather than an actual garage. Would you even be permitted to turn it into a garage? Not sure how these things work...

The other house might have only sold 2 months ago, but the offer could have come in about 3 months prior to that - that's nearly 6 months back, and the market's dropped somewhat since then (in most areas), plus it's now a very quiet time to sell rather than summer when the other house probably sold.

Mine was up for £250k, dropped to £243k and sold for £230k (before survey) - and that's in a part of London that's still moving generally! We just had a good buyer turn up. I definitely wouldn't be offering more than £230k in your shoes, and would probably go in a lot less. What sort of figure were you thinking of offering?

Please bear in mind it ain't going to be easy to sell a house so close to a motorway in the future - even though you say it would be yours long term. If the market's rubbish when you do need to sell, you could take a bit hit financially.

Maybe ring the estate agents the other house sold with and see what the selling price was. I've always been told when I've called. You could be way off the mark with your £230k guestimate (presuming I've read your post right!).

Jx

capstain411

Hi Hazyjo,

Thanks a lot for your reply. I know the house was sold for about £230k as I put an offer of £226 which got rejected.

Yes, today the noise was definitely noticeable, my mate down the road, said it was matter of months before he forgot about it. It is does sound like sea.

It is definitely not a secure parking area, neighbors have constructed garage. I wanted to know roughly how much should i negotiate the price by ?

emmell

I used to live near the M62 and it's true your ears do tend to tune the noise out, but when we used to replay videos that we had taken of our son in the garden then the noise was very apparent. I couldn't believe the difference.
ML.

capstain411

The point is, we will have to compromise on something, the house is near to motorway easily 1000ft. But it is just around 10mts from a huge park with children's play area and a gr8 track to jog with football and cricket field.

Coming to my other query how should i go about negociating with the garage issue.

poolboy

I don't know yr area but it's not the noise I'd be concerned about primarily but the ever increasing levels of traffic & the rubbish I'd be breathing in.

It sounds a fairly full price to be so close to a motorway.

hazyjo

The other price can only be used as a vague guide. Just cos one sold for that, doesn't mean the other will. Do you have a top budget? You must have some sort of figure in mind you'd be happy paying for it. I'm guessing you're thinking around the £230k mark. Or do you mean the one you like would be worth less than the other one? It's basically only worth what someone will pay for it, so if you think £230k would be a fair price, go in at £222k or something and give yourself a bit of bargaining room. Can't see how it can be worth £250k when the other one sold for £230k and there are obviously swings and roundabouts with both. Not sure a smaller drive and garden would make a lot of price difference, and a conservatory might make it more saleable/desirable, but wouldn't automatically add value... If it's a nicer house all round but without a proper garage, I'd still say it would be worth less or the same as the other one sold for, bearing in mind the current market/time of year.

Jx

Doozergirl

Are you sure of that price in West Brom? You can buy a proper detached house with 3, even 4 bed detached house in better parts for that sort of price. It must be right at the top of the price bracket of 3 beds - I hope it's big!

I live about 200m from the M5 but it's over a hill and there are three rows of houses between it and us. It's invisible which means you can only hear what sounds like the sea during the wee small hours.

capstain411

hazyjo wrote: »

Not sure a smaller drive and garden would make a lot of price difference, and a conservatory might make it more saleable/desirable, but wouldn't automatically add value...

Jx

thanks hazyjo, I am concerned about conservatory because being near to motorway, I can easily hear the motorway, so not a feature I would be using.

The Energy ratings a poor for the house. It is 'F' rated with potential to go to 'D'. Is that something to do with double glazing. The house does have double glazing, but looks old, it is not the one with wooden frame. I can faintly near noise of motorway in rooms at back of the house. I think i might need secondary glazing or replace back windows with triple blazing to trap heat and make it sound proof.

david29dpo

Doozergirl wrote: »

Are you sure of that price in West Brom? You can buy a proper detached house with 3, even 4 bed detached house in better parts for that sort of price. It must be right at the top of the price bracket of 3 beds - I hope it's big!

I agree. I live near Kinver (not that far away) You could get a great house for that price!

getmore4less

Inside you may be OK but You will find the noise intrusive in the summer with window open and when outside.


There seems to be loads better round that area for less

http://www.rightmove.co.uk/property-for-sale/map.html?locationIdentifier=USERDEFINEDAREA%5E%7B%22polylines%22%3A%22qhk_IjukKmpLurAh@shP%7EeLcAbHl%7ER%22%7D#_includeSSTC%3Don%26auction%3Dfalse%26includeSSTC%3Dtrue%26lastPersistLocId%3DREGION%255E1422%26locationIdentifier%3DUSERDEFINEDAREA%255E%257B%2522polylines%2522%253A%2522qhk_IjukKmpLurAh%2540shP~eLcAbHl~R%2522%257D%26minBedrooms%3D3%26previousSearchLocation%3DUntitled%2520(Drawn%2520Area)%26radius%3D0.0%26searchLocation%3DUntitled%2520(Drawn%2520Area)%26searchType%3DSALE%26useLocationIdentifier%3Dfalse%26box%3D-2.03796%2C-1.92192%2C52.49167%2C52.56133%26mapType%3DMap