Cost of kitchen and reducing offer

redbabe

Hi
I’m a first time buyer after some advice. I’ve had an offer accepted on a terrace house. One big drawback with it is the kitchen – its very small and would have to be extended although the extension could go into the outhouse that is behind it. My questions are

How much would you estimate you should take off the asking price for the work on the kitchen – the asking was £114950 I offered £105000 and we’ve agreed on £108000 – similar houses are going for about £114950 but these are usually done up. (I’m in Leicester so normal costs I assume) I’m thinking a normal galley kitchen.

Is it possible to get a builder to go round to give an estimate even though I’m at the beginning of the purchase process?

If the builder estimates say £10000 is it possible to go back to the vendor to try to reduce the price?

I’m worried that I’m paying too much as its been on the market a few weeks.
thanks

lynzpower

the thing is that the kitchen doesnt "have" to be extended that is your personal choice.

If I was selling a house, i would not take any reductions for this sort of thing.

You can only offer what you think its worth tho- but you have already offered- if its been accepted.?

Doozergirl

I don't unterstand how you've had an offer accepted but now want to negotiate based on the fact it has a small kitchen.

A house is worth what it is worth. I can't knock money off a 2 bed because it doesn't have a third beroom; that is taken into account in the asking price! You knew it had a small kitchen when you offered. The house will increase in value when it has the extension; it isn't decreased because it doesn't have one.

I can't see how you can justify renegotiating at all if you've already agreed a price. It's also underhand. How would you feel if you had agreed the price and they suddenly put it up?!

redbabe

When I say a small kitchen what I mean is an alcove. For some reason it hasn't got the added galley style bit that are used as kitchens in lots of terrace houses.
To tell the truth I wasn't expecting to have my offer accepted as all of my other offers on other properties haven't been. I've finally worked out its all a game you have to play.

shelly

If I was the vendor and had accepted an offer only to have the buyer come back and say "I want to lower my offer because I want to extend the kitchen" I'd tell them where to put their lower offer!

Alias_Omega

redbabe wrote: »

When I say a small kitchen what I mean is an alcove. For some reason it hasn't got the added galley style bit that are used as kitchens in lots of terrace houses.
To tell the truth I wasn't expecting to have my offer accepted as all of my other offers on other properties haven't been. I've finally worked out its all a game you have to play.

Whoops...

Any good at DIY.?

trf1960

If a buyer came to me with a revised offer after I had accepted one previously I would be inclined to tell them to go forth and multiply as well - especially if they were quoting extensions/building works.

Sorry but "agreed, bought as seen" in my books.

If you are now having second thoughts about the costs etc. I think you should use some excuse and pull out altogether and look for a property more suitable.

skintlass

I agree with the other posters - you can initially offer based on how much you think the kitchen will cost you to extend and if you get it for that price all well and good. However, if you offer and its accepted then you say - oh but I've decided I want to do "x" then thats just tough, you either pull out or accept that you will have to foot the cost of doing "x".

redbabe

Thanks for replies. I take your points about buying as it is but if the work will cost significantly more than £7000 I will be backing out because it would mean I would be paying more (overall) for the house than similar other houses in the vicinity. Getting on the ladder is difficult enough without forking out more money.

Just have to work out how much it will cost me to do the kitchen.

Alias_Omega

I would suggest you dont use that estate agents again, they probably wont take you serious next time.

albacore1854

Great post.

I recently wanted to buy a stately home, but alas I couldn't run to it, using your method I got the vendor of a 3 bed terrace to agree to fund a vast east and west wing for me. As I sit here typing this, overlooking the orangery, I can't believe how lucky I have been, and would recommend the tactic to anyone.