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dantheram1985 wrote: »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?
Even if you offer 150k you will still lose money IMO, a real economic storm is shaping up.0 -
SmashedAvacado wrote: »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.
offered 200, claimed to be offers higher than this already turned down - my mind says leave them to it.0 -
dantheram1985 wrote: »offered 200, claimed to be offers higher than this already turned down - my mind says leave them to it.
Probably best move IMO.0 -
What's on in the wider area?
Forget the £166k in Dec17 price. That's irrelevant.
No it isn`t, the economic outlook has probably deteriorated since then. IMO parking has less to do with some of these properties not selling than the fact that people are not going to want (or be allowed) to borrow quarter of a million for a relatively small space any more.0 -
Crashy_Time wrote: »No it isn`t, the economic outlook has probably deteriorated since then. IMO parking has less to do with some of these properties not selling than the fact that people are not going to want (or be allowed) to borrow quarter of a million for a relatively small space any more.
Yes it is.
Regardless of whether prices are going up, down, sideways, or diagonally, historic prices before works were carried out are irrelevant to what a property will see for. The price is how much somebody will pay.0 -
Yes it is.
Regardless of whether prices are going up, down, sideways, or diagonally, historic prices before works were carried out are irrelevant to what a property will see for. The price is how much somebody will pay.
ultimately true - but some people are irrational, surely most would look and at some point think the uplift was prohibitive . . .0 -
Yes it is.
Regardless of whether prices are going up, down, sideways, or diagonally, historic prices before works were carried out are irrelevant to what a property will see for. The price is how much somebody will pay.
And most buyers (and banks) will use recent sold prices as a guide.0 -
dantheram1985 wrote: »ultimately true - but some people are irrational, surely most would look and at some point think the uplift was prohibitive . . .
Irrational? That would be sensible, the irrational part is thinking that houses will just keep getting more and more expensive, that is highly irrational IMO, and sadly looking increasingly silly as the market just grinds to a halt
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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
Yep, friend of mine has just spent 100k on the interior alone when that extra money would have bought him a house already done, nicer outside and he wouldn't have had the grief of 6 months building work0 -
davidwood681 wrote: »Yep, friend of mine has just spent 100k on the interior alone when that extra money would have bought him a house already done, nicer outside and he wouldn't have had the grief of 6 months building work
No fear of a hard Brexit then?0
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