How much corner plot is worth more.

capstain411

We are viewing a property second time tomorrow. Its a 4 bed detatched corner plot. House in good condition and in a decent area. Asking price 245k. On market for last 3 weeks.

Last house sold in that area was semi detached in 2007 for 167k. We had a row yesterday on how we are going to offer so please help :mad::mad::mad::mad:

Similar 4 bed detached but not a corner plot up for 204k. Garden being on corner plot well shielded, so issues with privacy.

Having had no data on sold detached prop not sure on what to offer.

keystone

Do you like it? Obviously or you wouldn't be second viewing. Do you want it? If yes then the discussion is moot as the price of "similar" house is irrelevant. The worth of the additional land provided by the "corner plot" is also irrelevant in these circumstances.

Lets put it this way if it was my house and you turned up and offered £ 205 on the grounds that the one down the street is on for that then I'd show you the door. If you turned up and offered £ 240 you'd prolly get it.

Cheers

tyler80

If yes then the discussion is moot as the price of "similar" house is irrelevant. The worth of the additional land provided by the "corner plot" is also irrelevant in these circumstances.

Not necessarily, if you're relying on a mortgage then you need the valuation to be inline with what you are paying unless you have huge deposit.

keystone

I agree but your scenario is slightly different to mine IMHO. I'm basing my argument on the basis that they can afford the property but would like to get 10% off on the grounds that the "similar" house down the road is only on for £ 204.

The other way of looking at it is from the perspective of they can't actually afford it and are trying to find a reason to drive the price down to a level where they can.

In either case its only been on the market for three weeks so if I was the vendor I couldn't really be bothered with any offer that wasn't fairly close to the asking.

Cheers

Edit - and what if the valuation survey says its £ 245?

neverdespairgirl

keystone wrote: »

In either case its only been on the market for three weeks so if I was the vendor I couldn't really be bothered with any offer that wasn't fairly close to the asking.

Depends on the seller.

We've just exchanged on our future flat. It went on the market @ £820k, and our final offer of £690k was accepted within 36 hours.

Yorkie1

Corner plots can appear attractive but may be overlooked by more people owing to the angle of the house, and in my experience they often have a very small back garden with a much larger front garden - I'd rather have it the other way round as I wouldn't want to spend most of my outdoor time at the front of the house.

jaffs

We currently live on a corner plot and although we have a lot of garden as it is on 3 sides, we are also overlooked on 3 sides so whenever you are in the garden its not completely private.

It depends what you want, the large garden is nice, and you can put fences/ trellis up to get round some of the privacy issues but corner plots aren't always the better ones.

Personally i'd rather have a slightly smaller garden and more privacy

casper_g

I'd avoid a corner plot like the plague. Instead of a nice garden over the fence, I get a road with traffic/nosey passers-by on two sides. No thanks.

Happy_Paul

casper_g wrote: »

I'd avoid a corner plot like the plague. Instead of a nice garden over the fence, I get a road with traffic/nosey passers-by on two sides. No thanks.

I'd agree with this. I looked at a house once, that was very large compared to others on the road, but was a corner plot. The trouble was that it was on the corner of a very busy road (that loops around the corner).

I personally couldn't stand the thought of being in the (fairly big) back garden having to listen to the roar of traffic.

keystone

neverdespairgirl wrote: »

Depends on the seller.

Of course it does but now we are starting to beg the question instead of focussing on the question the OP actually asked.

We've just exchanged on our future flat. It went on the market @ £820k, and our final offer of £690k was accepted within 36 hours.

and how is that relevant to this case except as an "in passing" comment? You were lucky - they obviously wanted to get rid rather quickly for some reason or another. Thats an enormous drop.

Cheers

alezzandro

capstain411 wrote: »

We are viewing a property second time tomorrow. Its a 4 bed detatched corner plot. House in good condition and in a decent area. Asking price 245k. On market for last 3 weeks.

Last house sold in that area was semi detached in 2007 for 167k. We had a row yesterday on how we are going to offer so please help :mad::mad::mad::mad:

Similar 4 bed detached but not a corner plot up for 204k. Garden being on corner plot well shielded, so issues with privacy.

Having had no data on sold detached prop not sure on what to offer.

House prices 8 months ago were roughly the same of 2007. A 50% increase since then seems unrealistic, unless something happened in between: did they do serious refurbishment? Have the conditions of the road/neighbourhood changed dramatically? Any other reason to justify it?

If the two houses you mentioned are truly comparable, the difference in price does not make sense (BTW, have you seen the other house? are they REALLY comparable?).

Before making the formal offer, you could ask the estate agent to justify the difference in price. If the answer is not satisfactory, you might ask to pass it on to the vendors (maybe by making a very low initial offer).