looking to buy new house but need advice

pinhams

Hi. I'm new to this forum so sorry if i post in wrong place or anything.
Okay, our situation is we are a family of 4 in a 3 bed house. We want to move to another house with atleast 3 bedrooms but more living space, drive and a bigger west or south facing garden.
We think we have found perfect house but its an extended bungalow, which is fine.
My main worry is we don't want to pay over the odds for it just because we love it. It's up for 199950. 2 bed bungalows in this street have sold for 160k, zoopla has valued it at 165k. Were in a good position to proceed, they have wanted to move since 2010. No other offers have been received etc. Also this house is ready to move into. No DIY needed. Can you please help me with an app:beer:rox offer? Thank u in advance!

BitterAndTwisted

£199,950 is what the vendors think it's worth. You offer what you think it's worth to you. I dunno what your price is, only you know that for a property no-one has seen in an area no-one has any knowledge of. Unless they're psychic

bmar71n

i don't believe that any vendor expects to achieve the asking price, i currently have a property for sale and hope to achieve cira 90% of the asking price so may be the vendor expects to get around £180,000 so maybe make an offer below that in the £160,000-£170,000 area and see what happens

pinhams

BitterAndTwisted wrote: »

£199,950 is what the vendors think it's worth. You offer what you think it's worth to you. I dunno what your price is, only you know that for a property no-one has seen in an area no-one has any knowledge of. Unless they're psychic

You make a fair point, maybe i should give more info, house is in north east of England, near Whitley Bay.

I dont think its worth over £175- 180k.

is that too much of reduction?

I had thought about starting offers at 168k, which i think is 16% below asking

jc808

£182,357.49

rachelonna

I would go for something like £169499 or some random figure above £169k. Makes it sound like £170k, and shows that you're serious. Do you know what condition the other houses were at? I think there's some people on here who can research these other properties for you - don't know if they can get you some photos to compare...

cattie

Take no notice of Zoopla valuations as often they are just a ridiculous joke.

If the house is in move in condition, then you need to take this into account. I don't know if it's the same for your area, but where I am in the suburbs of London, an extra (decent sized) bedroom puts an extra 25k-30k on the value of an average 2 bed property.

If it were me I'd start around the 175k mark & take it from there.

pinhams

rachelonna wrote: »

I would go for something like £169499 or some random figure above £169k. Makes it sound like £170k, and shows that you're serious. Do you know what condition the other houses were at? I think there's some people on here who can research these other properties for you - don't know if they can get you some photos to compare...

The other house that was sold on same street was a newly reburb, so was lovely.

Everyone seems to be coming up with the same figures as me, so that reasures me that im not being too cheeky in my offer and i am being serious with it.

thank you!

kindofagilr

Yeah I would start at 175k xx

phoebe1989seb

Trouble is one person's idea of 'move-in condtion' or 'newly refurbished' is not another's, for example the house we sold last year had been 'restored' by us to its former glory with high end fittings such as granite worktops, handbuilt wood kitchen etc, yet our buyers now have it splashed across facebook that they are 'renovating' their new home, lol!

If the house in question is done up to a standard that you are happy with op, then obviously it is worth paying a little more for than one that you woud have to 'do up'......but if the vendors having been wanting to move ince 2010 I guess a) its overpriced and b) the style of decoration/condition has not been what other potential buyers have been looking for. Personally I would go in with an offer of just under £170k but would be expecting to increase the offer if it is the perfect house for you and your family

pinhams

phoebe1989seb wrote: »

Trouble is one person's idea of 'move-in condtion' or 'newly refurbished' is not another's, for example the house we sold last year had been 'restored' by us to its former glory with high end fittings such as granite worktops, handbuilt wood kitchen etc, yet our buyers now have it splashed across facebook that they are 'renovating' their new home, lol!

If the house in question is done up to a standard that you are happy with op, then obviously it is worth paying a little more for than one that you woud have to 'do up'......but if the vendors having been wanting to move ince 2010 I guess a) its overpriced and b) the style of decoration/condition has not been what other potential buyers have been looking for. Personally I would go in with an offer of just under £170k but would be expecting to increase the offer if it is the perfect house for you and your family

Well there would be things id want to change, but what i mean is id be able to live in it straight away and its clean and i would say a cared for home. There is alot of pink wallpaper, i have a little boy so this would have to go. haha. Mainly no major jobs like kithcen or bathroom wouldnt need to be replaced.

I think i will go in just under the 170k like you mentioned, expecting to go up but i wont go over 180k as i dont believe its worth that.