What pricing should i be looking at?

Number724

Hello,

Hoping for a bit of advice, I'm almost at the stage where i can start looking for a property!! It looks like the maximum i can offer for a property will be £165k and not a penny more (otherwise my incredibly detailed budget will be incredibly over).

My question is what sort of house priceing should I be looking at with a budget of £165k?

I’ve read a few articles that house pricing will drop off anywhere between 2-10% this year (don’t know how accurate this is), plus the fact I’m a first time buyer, will looking at properties advertised at £190/200k be realistic or is this pointless for my situation?

I will be looking in the berks or bucks area, and ideally don't any to do any drastic modernising / renovating of the property, although I don’t mind a bit of decorating :P

i appreciate there are many variables to my questions (how longs the property been for sale, what work needs doing, sellers circumstances etc etc) I also know that the worst a seller can say is "no", but to stop me wasting mine and the sellers time, and as a rule of thumb, what sort of pricing can I be looking at with an offer of below £165k and be taken seriously?

Thank you.

sirmosh

You should go see an IFA before deciding your budget really, even if you have done some in depth calculations yourself.

Best thing to do is look at what similar properties to the ones that interest you have sold for, that way you'll have a decent idea of how much might come off the asking price. Situation obviously changes things a lot too, someone desperate to sell will obviously take less than someone who just fancies a bit of a change. Also some people have a minimum they can sell for because they're in negative equity and again sold prices can give a few clues to this.