How much is it worth?

thenewbee

I'm interested in this property in Bramham, a village near Wetherby and Leeds. Interested to hear views on what it's worth because the local market doesn't have a lot of housing stock so it's tricky to judge. Most houses in the area are much larger and go for 500k+ and are in demand. The smaller cottages come up less often and aren't snapped up.

This one in particular was bought in 2010 for 180, currently rented out at 695pcm. Owner has tried to sell since 2011 but reverted to renting it instead. In 2011 and 2012 was listed at 180.

Big disadvantages I think are no parking except on the street, no garden and limited space / room to expand.

Any opinions welcomed because we are FTBs!

http://www.walker-smale.co.uk/more_details.php?profileID=100365001347

Tiddlywinks

The old saying that something is 'worth' only what someone is prepared to pay applies here.

It has been on sale on and off for a couple of years so that should tell you something?

It is lovely to look at BUT there is no parking - that would put a lot of buyers off straight away.

Plus, there is no porch, you walk straight in off the street into the living room. There is only a small dining space as well.

Do YOU think it's worth it? Does it tick all of your boxes?

RAS

Note laundry room is under next door.

Therefore flying freehold situation. Check both mortgage and insurance issues (although NFU may be OK for insurance).

Derwent

This detached one sold for £200,000 earlier this year, so I'd say around £165-£175k would be a fair price taking into account the premium for detached houses and the fact that this is a terraced one with no private parking etc.....

http://www.zoopla.co.uk/property-history/mole-end-cottage/high-street/bramham/wetherby/ls23-6qq/26908240

thenewbee

RAS wrote: »

Note laundry room is under next door.

Therefore flying freehold situation. Check both mortgage and insurance issues (although NFU may be OK for insurance).

I did notice this. Hopefully not a problem mortgage wise but I'm checking the CML handbook today - I think it'll be ok if less than 25% of the total area from memory. Will enquire about insurance though.

thenewbee

Tiddlywinks wrote: »

The old saying that something is 'worth' only what someone is prepared to pay applies here.

It has been on sale on and off for a couple of years so that should tell you something?

It is lovely to look at BUT there is no parking - that would put a lot of buyers off straight away.

Plus, there is no porch, you walk straight in off the street into the living room. There is only a small dining space as well.

Do YOU think it's worth it? Does it tick all of your boxes?

Viewing it this evening - it doesn't tick all our boxes but we're willing to compromise if everything else is there - eg walking in off the street isn't ideal but there's access around the back with a small vestibule that could work. Thank you for your input.

thenewbee

Derwent wrote: »

This detached one sold for £200,000 earlier this year, so I'd say around £165-£175k would be a fair price taking into account the premium for detached houses and the fact that this is a terraced one with no private parking etc.....

http://www.zoopla.co.uk/property-history/mole-end-cottage/high-street/bramham/wetherby/ls23-6qq/26908240

Thank you - this is around what I thought but I'm concerned the seller will want 180 so they don't face a loss from what they paid 3 years ago.

alwaystryyourbest

If they paid to much for it 3 years ago,it should be there loss not yours.. So try and also look in to housing prices around the area 3 years ago..

RDG

I lived in Bramham up until last year and its a lovely village and in a great location for commuting. There is a good community feel to the place especially if you get involved.

This is reflected in the local prices which are a little bit higher than Wetherby for example. £190k ish for that house doesnt surprise me at all as the houses around Croft Road, Lyndon Ave etc.which are 1930s builds with less character go for very similar money.

thenewbee

RDG wrote: »

I lived in Bramham up until last year and its a lovely village and in a great location for commuting. There is a good community feel to the place especially if you get involved.

This is reflected in the local prices which are a little bit higher than Wetherby for example. £190k ish for that house doesnt surprise me at all as the houses around Croft Road, Lyndon Ave etc.which are 1930s builds with less character go for very similar money.

Thank you -- invaluable advice.

thenewbee

We're going to put an offer in on Monday - we're thinking of starting with 167, 500 and then possibly gradually increasing offer by 2, 500 depending on how it's received with a maximum of 175, 000. Is this a good idea? Any advice or wisdom welcomed!