House on for £290,000 one down the road £250,000

Davesnave

Dan83 wrote: »

Are the house's that different? Why not buy the cheaper house and spend the difference making your perfect home?

If you actually read the thread, you'll know the answer to this question.

Brightspark87

Hi all soooo update

Outright decline on offer, so we went to £272,500 and explained that this was our final offer - no one else offered and with 13 viewing aside from us its clearly got issues.

Straight out decline again! Not a negotiation nothing. Makes me thinks she doesnt want to sell.

She has gone off for a holiday for a week agent off for 2 weeks and said if its still around when he returns maybe we will chat. I will be hugely surprised if it has an offer high enough for her to accept.

So we have been viewing lots of others in the mean time and they are so much cheaper than this one - just with less garden and not quite as nice inside.

For example : http://www.zoopla.co.uk/for-sale/details/39426403?search_identifier=4a883eb2e279819761c23c5167059e08

http://www.zoopla.co.uk/for-sale/details/39312149?search_identifier=4a883eb2e279819761c23c5167059e08

Can you begin to see why I think this one for £290,000 is so over priced? Thanks for all the help and advice thou everyone

Brightspark87

MiaFey - I can honestly tell you as someone in the same boat some houses are seriously under priced and some are HUGELY overpriced. I am looking more in the BS35 area where the houses are not flying off the shelves they are slow and steady - take this one we like. Went on sale on 7th February and no offers until us on 26th February - what does that tell you? Mate selling his in Bath has ad 14 viewing 3 over asking price offers in a week. Its all very location central! Good luck though x

Bluebirdman_of_Alcathays

I'm sorry - all the cheaper houses you've shown us are obviously not as nice as the £290k one. You've even said, yourself, that you want the £290k one more than the £250k one. What am I missing here?! It's more expensive, because it's better! So if you want it, pay more, or buy the cheaper one that isn't as nice that you can afford!

LittleMax

Brightspark87 wrote: »

So we have been viewing lots of others in the mean time and they are so much cheaper than this one - just with less garden and not quite as nice inside.

For example : http://www.zoopla.co.uk/for-sale/details/39426403?search_identifier=4a883eb2e279819761c23c5167059e08

http://www.zoopla.co.uk/for-sale/details/39312149?search_identifier=4a883eb2e279819761c23c5167059e08

Can you begin to see why I think this one for £290,000 is so over priced? Thanks for all the help and advice thou everyone

Sorry to hear your offer was not accepted. But it is interesting that after initially trying to convince us that the house was worth no more than £260k, you then offered £272,500. So clearly you appreciate it was worth more, even to you.

But, you are still not comparing eggs with eggs. The houses that you offer as comparable are not direct comparisons. What you are in reality doing is showing us examples of houses in your price range. The value that you place on each particular attribute is down to you and your individual requirements, and we cannot advise on that.

Just because you can get a slightly larger house for a lower price does not necessarily make the more expensive house over priced.

We are all looking for different things from our home. Personally, I would never consider either of the two above, as they are imo very overlooked. But that's just me.

The only thing you can do is look at what your budget will get you in different locations and decide what's best for you.

Davesnave

If the garden is important to you, then Wainsbridge Crescent is out, but it does offer a good amount of space inside, which the more expensive property doesn't, despite having those ugly extensions.

It can take a long time to find the right house in an urban setting if you want outside space. In Bath, 'normal' houses with 1/4 acre are like chicken's teeth, but we found one. The compromise was having an odd property, because it wasn't faced with Bath stone, but rendered. I could live with that in order to get the garden that usually comes with an up-market property.

There will be a compromise to be made somewhere. You just have to decide what it will be.

Edit: Connells take you about 2 miles from the correct location on the map view of Wainsbridge Cres. Par for the course, I believe!

Brightspark87

Hi just to say we always said that the first offer would be c£260,00 but the limit was c£270,000. Its not clear from the photos but the value is based on the house before the agent was aware of issues - these included rights access from next door (number 10), guttering that is falling away and has caused damage to the roof and the flat roof having issues (we noticed damp). Yes is it nicer but equally I am not going to be stuck having offered more for the mortgage survey to just say it isn't worth that much by the time we get to that stage and given the issues I think this is a real possibility.

None of the other houses are quite as special as the £290k one yes but as an IFA I am always worried about the downsides rather than the up!

We can afford £290,000 but not £290,000 plus additional costs of the issues we have found or the mortgage company not lending against the value of the offer we put against it as then we will be looking at less than 25% deposit and higher rates!

the other houses are as near to examples as I can get - in the area there are few 2/3 cottage houses.

LittleMax

So are you going to offer on one of the others you have viewed? It sounds as though you still want the £290k house, and are using these to illustrate why you believe the vendor is being unrealistic in their pricing.

Brightspark87

Davesnave wrote: »

If the garden is important to you, then Wainsbridge Crescent is out, but it does offer a good amount of space inside, which the more expensive property doesn't, despite having those ugly extensions.

It can take a long time to find the right house in an urban setting if you want outside space. In Bath, 'normal' houses with 1/4 acre are like chicken's teeth, but we found one. The compromise was having an odd property, because it wasn't faced with Bath stone, but rendered. I could live with that in order to get the garden that usually comes with an up-market property.

There will be a compromise to be made somewhere. You just have to decide what it will be.

Edit: Connells take you about 2 miles from the correct location on the map view of Wainsbridge Cres. Par for the course, I believe!

Yes is very hard isn't it? I am very cautious too because I have seen negative equity with close friends and don't want to buy somewhere without worrying about selling it on.

Brightspark87

LittleMax wrote: »

So are you going to offer on one of the others you have viewed? It sounds as though you still want the £290k house, and are using these to illustrate why you believe the vendor is being unrealistic in their pricing.

No offer as husband hasn't seen them all yet! Its just examples of why she is asking too much. Also irritating that she won't even think about issues that could be thousands of pounds and just goes off on holiday without talking more seriously about our offers... or the fact that so many others have gone to view and no one else has has had a second viewing or offer.

We would love to buy this house but equally I can't bring myself to offer more without getting feedback on the issues.