FTB query on budget & prices

BeardedWonder

After what feels like an age, my gf and I have got a £15k deposit together with a view to getting an 85% mortgage on a house.

So, that leaves us looking at buying a house at a £100k tops. Question is, what value of property should we be looking at given the sale value is (normally) lower than asking price? 105k, 110k.. more?!

Is there a chance of negotiating property advertised at £100k to say, 115k to within our budget or am I being optimistic?!

Thanks

tyler80

We are in the process of buying, house was on the market at 115k our offer was accepted at 101k so yes there is a chance of negotiating

G_M

Bear in mind that if you tell an estate agent you can afford £115 (or up to 115) or that you're interested in properties up to £115, they will inevitably send you details of properies on the market at £120, 125......

KateLiana27

I'd look at anything up to £115K, but focus on those £105-£110K. Getting more off a property at that price range would be unusual, though not impossible. And the risk with looking at higher-value properties is your perception of what's acceptable gets skewed, and you may no longer be happy with what you can actually afford

Bear in mind that some properties are more realistically priced than others, so I wouldn't count on getting a certain percentage off a house. You'll quickly get a feel for which houses are worth a given price and which are not, and should offer accordingly.

BeardedWonder

Thanks all, that's encouraging to hear. Think we just need to get some viewings in and try some cheeky offers.