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How much is this house really worth?
pimento
Posts: 6,243 Forumite
Hi all,
Can some kind person tell me how much a house is really worth? I want to put in an offer on a five bedroom detached house that is on the market for £499,995 and has already been reduced in price from £550,000.
I can post a link but don't want to send the hits up exponentially if I don't have to. Area is south east Essex.
Can anyone help? Thanks.
(If you think that adding the link won't sabotage my purchase, then I will do it.)
Can some kind person tell me how much a house is really worth? I want to put in an offer on a five bedroom detached house that is on the market for £499,995 and has already been reduced in price from £550,000.
I can post a link but don't want to send the hits up exponentially if I don't have to. Area is south east Essex.
Can anyone help? Thanks.
(If you think that adding the link won't sabotage my purchase, then I will do it.)
"If you think it's expensive to hire a professional to do the job, wait until you hire an amateur." -- Red Adair
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Comments
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>Can some kind person tell me how much a house is really worth?<
No. It's the most anyone is willing to pay.
Although, if you gauge the rental income and assume an acceptable yield is 7%, then you can work out what is an economic price for a BTL LL which would be the 'floor' price for a private buyer.0 -
I_have_spoken wrote: »
No. It's the most anyone is willing to pay.
As, after eighteen months, that person would appear to be me, how much should I offer to get it as cheaply as possible then?"If you think it's expensive to hire a professional to do the job, wait until you hire an amateur." -- Red Adair0 -
I_have_spoken wrote: »>Can some kind person tell me how much a house is really worth?<
No. It's the most anyone is willing to pay.
Although, if you know the rental income and assume a good yield is 7%, then you can work out what is an attractive price from a BTL LL which would be the 'floor' price for a private buyer.
There's zero market for a five bed BTL in the village. Nobody rents. The area has the highest % of home ownership in the whole country."If you think it's expensive to hire a professional to do the job, wait until you hire an amateur." -- Red Adair0 -
10% off the asking isn't unreasonable, offer £450,0000
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According to my view if you have any old home then initially you should think about home improvement but if you want buy any other home then new home price is not much you can buy this.0
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homeimprovement wrote: »According to my view if you have any old home then initially you should think about home improvement but if you want buy any other home then new home price is not much you can buy this.
Google translate still has it's limitations, I see.
"If you think it's expensive to hire a professional to do the job, wait until you hire an amateur." -- Red Adair0 -
120 views and only one opinion? OK then, here's the link. Does anyone else have an idea? Is it overpriced?
http://www.rightmove.co.uk/property-for-sale/property-26157162.html?premiumA=true"If you think it's expensive to hire a professional to do the job, wait until you hire an amateur." -- Red Adair0 -
120 views and only one opinion? OK then, here's the link. Does anyone else have an idea? Is it overpriced?
http://www.rightmove.co.uk/property-for-sale/property-26157162.html?premiumA=true
probably because no - one can give you anything other than random numbers and hot air....
You have to do the research:
1) what can you afford?
2) What have similar house in the area sold for?
3) What is the market trend in that area?
4) are you there 'forever' or looking to lose as little money as possible on a short-term (say 4-5 year) purchase before moving on?0 -
have you looked at the sold nearby prices on the right? Just stick in an offer you'd be happy with! i'd offer £400k if I was serious about buying it and see where the dust settles0
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there are 2 very decent nearby 5 bedroom houses advertsed at 465 so i would say its overpriced personally0
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