Is it worth looking at houses over budget?

chelseablue

Looking to move house at some point, before my son starts school.


At the moment we can spend up to £360,000.


Say a house comes up for sale at £385,000, is there any point in going to look?


How far above budget should we be viewing at?

Daerve

Negotiation is always possible but it will depend on the area.

In the Midlands I short listed properties 10% over budget.

HappyMJ

chelseablue wrote: »

Looking to move house at some point, before my son starts school.


At the moment we can spend up to £360,000.


Say a house comes up for sale at £385,000, is there any point in going to look?


How far above budget should we be viewing at?

Yes you can look at houses that are beyond your budget but you can only offer your budget figure. Start by offering lower than your limit then negotiate. I'd look at properties up to 10-20% above your budget you never know it may have been on the market for a long time and they might drop the price down to the price you offer. Could be worth it you might find a bargain and a willing seller. Don't get emotionally attached as 9 out 10 times your offer will be refused.

chelseablue

Im in the dreaded South East

lindens

If i hadnt looked over my budget i would never have seen the house i ending up buying - for my original budget!

Daerve

chelseablue wrote: »

Im in the dreaded South East

Ah..........

chelseablue

Daerve wrote: »

Ah..........

Indeed!

Landofwood

Remember that asking prices are mainly made up numbers. It's entirely possible that a house listed at 400k may only be worth 360k.

Melaniep101

We've been offered £370,000 for our house despite it being on for Offers in excess of £399,950. There's no way I'd accept £30k less for our house.. we're also in the south east

getmore4less

Remember it is not the asking price that matters.

Do the research, price history, time on market, others similar selling prices, trends etc. to work out what you think it should sell at.

If the place is overpriced but should be in your range then include it in the search but be prepared for unrealistic expectations from the vendors.

if already priced to sell then if above your max it will be harder to negotiate down to your level.

whne looking over your budget sets your limit not your heart, falling in love with a place well below budget is one way to pay too much.

HouseBuyer77

I'd say it's worth looking at house over budget purely to give you a better idea of the market, see what an extra £20k is actually giving you. You might decide it's worth pushing yourselves, or you might get away with an under asking offer (though maybe not in the south east!).

Similarly looking at houses under budget is also a good idea. You might find something you love for less.