Help! First Time Buyer

winnallreed

Hi!

I am going to look at a house that is in the perfect location i want and exactly what we were looking for!

However, I just found out it was bought in January 2012 for £65,000 and now its up for £125,000! Ive been told it has been renovated but it seems a short amount of time to completely renovate a property? I can see it has a brand new kitchen and bathroom but surely that wouldn't justify a massive jump in price?!

Can anyone advise of what questions i need to be asking or what to look out for?

Also, whats a reasonable starting offer for negotiating? Im not going to pay the asking price but i also dont want to annoy them with a misely offer?

Hope you can help!!

WinnallReed

ACG

If the property was barely habbitable then a decoration, kitchen and bathroom and a bit of tidy up could easily add that value as its changed from somewhere where nobody would want to live to a nice habbitable home.

Dont look at what it was bought for and what it is now as thats not reasonable, that person has had the headaches of doing it up and they need to earn their bit of the pie - theyve paid for the labour and items in the house too on top of fees for that £65k.

What are you prepared to pay for it? What is it worth? What are similar properties going for?