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The Edcawber Principle
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@Staffordia - ajmoney is totally right about how offers over works but her experience is fairly unusual from what I have seen. Then again, I grew up in a neighbourhood with good schools and inflated house prices and ended up living in one myself 🤷♂️ I am privileged
Almost every house in our neck of the woods goes to a closing date. We paid 16%? over for our current home (offers over and home value) because it's on a corner plot (space to extend) and at the bottom of the street next to a lovely primary school.
Friends with deeper pockets than ours inform us that the £500k houses in the posher part of town regularly go for 30% over, I can't even imagine paying that for a house!4 -
Thanks Ed, that's helpful. I can't imagine spending over £500k either but know if I moved our house 30 miles to Cambridge I wouldn't have much change from £750k.
We haven't made a final decision on whether to move North but I like to be informed.Mortgage Free November 2018
Early Retired June 20202 -
@edinburgher I think I have been lucky especially with this house as it is 5 minutes walk from the best primary school in the town. The two houses I mention, one needed to sell due to a break up and this one had been on the market for a year already so I wiggle room and my other house was a part-ex.
MFW 2025 No. 7 £1130/£1200
MFiT-T7 No. 6 £2873.51/£30,0003 -
@Staffordia - what town? That should allow you to retain your anonymity1
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Not a town, contemplating 60 degrees north.
Mortgage Free November 2018
Early Retired June 20201 -
nice sweaters
Save £12k in 2025 #2 I am at £4863.32 out of £6000 after May (81.05%)
OS Grocery Challenge in 2025 I am at £1286.68/£3000 or 42.89% of my annual spend so far
I also Reverse Meal Plan on that thread and grow much of our own premium price fruit and veg, joining in on the Grow your own thread
My new diary is here2 -
Ooft, that is pretty North!1
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Just a bit, but we love it up there. Hopefully will go again in a couple of months, restrictions permitting.edinburgher said:Ooft, that is pretty North!Mortgage Free November 2018
Early Retired June 20201 -
And definitely needed!Suffolk_lass said:nice sweatersMortgage Free November 2018
Early Retired June 20201 -
To also add I think it depends on how much you want the house & how long you intend to stay.Staffordia said:AJMoney, yes thank you that is very helpful. It now makes sense that if the property is sought after that you might have to pay more. Thanks again
I personally would be uncomfortable going much over home report value but everyone is different.
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Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
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