Would you pay more than the zoopla value.

Mrsstevo

UsernameAlreadyExists wrote: »

Bar some of the decor, I like that a lot.
I don't know the area or surrounding house prices, but that's a quite nice place.
Don't forget we're still in recession ... or are we?

Its my dream house. I think it could be fabtastic with a bit of love. Room to extend too. Could be a forever house. Its a really lovely village too! I would probably pay up to £160,000 dont want to stretch ourselves much more than that though.

Mrsstevo

One of my reasons for my original question is that when we bought our first house we were only 20/23 and not that property savy and we over paid slightly. So I am worried about this happening again.

Mickygg

As with most people on here i would take zoopla with a pinch of salt. The house I sold was showing £10k less than I sold it for, and the one I bought it was nearly £50k more on zoopla than I paid.Do your research, look at other properties selling in the same area etc but don't just rely on zoopla.
I think most people are scared of overpaying, but you never know what will happen in the future. Pay what you think it's worth and no more unless you really like the house and don't plan to move for a while, in which case a few extra thousand over say 20 years is peanuts.

AlexMac

Its a really nice house; and so, yes, as you like it- go for it! Zoopla is useless in that street as you say as there's been such low turnover- which itself shows its a good street.

I'd go in with an even lower offer than £155k, but then I'm cheeky, and when buying in the last 10 years we've usually been able to present our offer to the agent together with our advantages (cash buyer or firm offer accepted on our prior home, in funds, or with in principle mortgage offer....) and so, have generally struck lucky at 5-10+% under asking price (except once in 2001 when we paid asking price as it was a prime property in a sellers market- far from the case today).

And the place is very nice- simply but reasonably presented- the stove's a nice touch and you could refresh that tired but clean kitchen with new door-fronts, a cooker hood and a couple of glazed IKEA wall-cupboards which match anything (as we've done).

BUT.... isn't 13 an unlucky number...?

pinkteapot

Zoopla is nonsensical. All it seems to do is take the last known sold price and adjust it for the average change in prices in the area.

This creates some very weird results in cases where houses haven't changed hands for ages, or where people managed to buy a house for a good low price, due to condition or finding a desperate seller.

We live in a 4-bed detached. According to Zoopla, our house is worth less than the 3-bed detached next door. It's a bog standard 1990 estate so our place and next door are exactly the same style of house, same plot size, etc. Ours is quite a bit bigger. Sorry, but ours is worth more. Next door have owned theirs since it was built so there's no price history for it. We got ours in 2010 for a good price as the sellers had financial problems and priced it low to sell it fast.

Better still, it values ours at £20k less than a 3-bed that sold last year! Not sure what happened but the people who bought that 3-bed paid a crazily high price for it. Zoopla now has high confidence in valuing their house at considerably more than ours because obviously what they paid must have been the correct value.

Finally, it values ours at £30k less than the 4-bed a few doors down which is identical to ours.

My only fear is that buyers will pay attention to Zoopla as and when we come to sell....

It's one of a number of websites that gives you info on historical sold prices, which is vey useful. It also lets you see the property details from when a house was last marketed, so you can nose at whether the current vendors have spent much doing a place up. That's all great but their valuations leave a lot to be desired.