Offer level

dantheram1985

hi all,

interested in a house listed at £230k, factors include;

2 bed semi, with dining room and lounge, kitchen under flat roof extension, driveway, detached garage, good sized garden, semi rural location but not hugely sought after imo.

Purchased by vendor in Dec 2017 for £166k (in need of modernisation), new interior incld bathroom, kitchen etc all fitted by vendor

Next door sold for £186k in May 2017, less appealing interior but exactly the same house otherwise.

i cant, personally, justify going north of £200k - what do others think?

chunkytfg

Try it, they might say yes or they might say no. Nothing to lose by asking.

AdrianC

What's on in the wider area?


Forget the £166k in Dec17 price. That's irrelevant.

dantheram1985

AdrianC wrote: »

What's on in the wider area?


Forget the £166k in Dec17 price. That's irrelevant.

unmodernised 3 beds at 200k - 230k, also heavily refurbished 3 bed at 289k and 250k

https://www.zoopla.co.uk/for-sale/property/derbyshire/holbrook/

AdrianC

Not hard to figure which we're talking about, then, and it's very nicely presented, but it can't escape the basic property.

(I won't link here)

Given what similar money will seemingly buy within the slightly wider area, is there a real location premium?

It's very recently listed, but there's similar money places that look superficially more tempting which are clearly hanging around, or on with dual agents (which always makes me wonder how desperate they are).

Of what I'm quickly seeing, I'd be on the phone to view...
https://www.rightmove.co.uk/property-for-sale/property-68051224.html

dantheram1985

AdrianC wrote: »

Not hard to figure which we're talking about, then, and it's very nicely presented, but it can't escape the basic property.

(I won't link here)

Given what similar money will seemingly buy within the slightly wider area, is there a real location premium?

It's very recently listed, but there's similar money places that look superficially more tempting which are clearly hanging around, or on with dual agents (which always makes me wonder how desperate they are).

Of what I'm quickly seeing, I'd be on the phone to view...
https://www.rightmove.co.uk/property-for-sale/property-68051224.html

echoes my sentiments - properties up there don't move particularly quickly and there isn't really a location premium. The one you link to has the drawback of being completely unextendable (grade II listed / conservation area etc)

However, it is basic and i'd be looking to turn it into a 3 bedroom property upon acquiring it.

-taff

Have you gone to look at the three bed semi for 200 or the end terrace or 165?

dantheram1985

-taff wrote: »

Have you gone to look at the three bed semi for 200 or the end terrace or 165?

the terrace is a nightmare - no garden and no parking, it has roads running up the front and back

The 200k 3 bed was a nearly - just decided against it due to overall plot size and potential really

AdrianC

dantheram1985 wrote: »

...i'd be looking to turn it into a 3 bedroom property upon acquiring it.

Then buying a place that's got a fresh-refurb premium seems to be an odd move.


It's always a damn sight cheaper to buy what you want than to buy something else then turn it into what you want. And if you can afford to put an extension on, you can afford a "better" place to start with.


https://www.rightmove.co.uk/property-for-sale/property-60652183.html

dantheram1985

AdrianC wrote: »

Then buying a place that's got a fresh-refurb premium seems to be an odd move.


It's always a damn sight cheaper to buy what you want than to buy something else then turn it into what you want. And if you can afford to put an extension on, you can afford a "better" place to start with.


https://www.rightmove.co.uk/property-for-sale/property-60652183.html

tend to agree - lack of choice is really prompting this. The one above is appealing but is on double yellows, with the nearest parking being some distance away, has been for sale since jesus was young as a result

SmashedAvacado

Offer less than you are prepared to pay
Then offer a bit more if they say no.
Rather than over-thinking it, all that is relevant is what the seller is willing to take. You won't know that until you ask.
So if you think it is worth £200k, your first offer should be £192k or similar.