What would you offer on this house?

Gwendo40

Is it a converted semi or is it a purpose built ''quadrant'' house of 4 one beds?

If it is a quadrant house then it's worth bearing in mind that you've still got party walls with 2 adjoining neighbours, so it's no better than being in a mid-terrace in terms of potential for neighbour noise.

quantumlobster

silvercar wrote: »

I agree. I've just looked that post code up on zoopla (as zoopla shows property descriptions of houses that have sold) and can't see any other property on the road that is 1 bedroom.

Is this one not on the same road? £139K!

https://www.rightmove.co.uk/house-prices/detailMatching.html?prop=51008733&sale=8675890&country=england

SDBradfo

I saw that one. It is the same street, yea.

It’s not part of the same block but there are a couple more like t is on the street. What’s the easiest way to tell if it’s converted as opposed to purpose built?

need_an_answer

Its a cluster house and they have a niche appeal.

Some people love them because they are generally freehold and a great alternative to a flat coming with the added bonus of a garden.

They are what they are 1 bed starter homes!
they manage to fit a couple and a pet very nicely.

the one you are looking at needs updating a little and would benefit from a little love...its quite clutter with whats in there at the moment but TBH paint the walls white and reduce the furniture and actually its quite a good space.


Price wise I may go a little lower around £115k with a cheeky start of £110k but actually the fact that its probably not leasehold and will save you management fees and leasehold fees over the next 5 years or so has to be factored in as a big bonus.


The present owner (assuming the sold history is correct) has been there many years so must have enjoyed the house/area.

Spend £10k on a new kitchen/bathroom some wood flooring and some neutral d!cor and the place could very easily be transformed into something rather nice...you don't get a garden like that with a flat!

Survey would probably say electrics and heating would need to be looked into simply because they may not have been updated during the occupation of the current owner.

Longterm...you probably cant extend that much certainly not bedroom wise but move that shed in the garden and suddenly it opens up a space to the side for a single storey or connsevatory/sun room subject to planning....

Houses like this in my area done well go for around £160-180k and hold their value well.
Always of particular interest to BTL and young professionals who don't want the communal flat living.

tiernsee

Looking at sold prices a 1 bed cluster home from the pictures looking in similar condition, but maybe with a nicer garden sold for £95k in 2016. No idea on price rises in this area but may suggest that £120k is a little aspirational.
Another who would recommend seeing if a stretch to a 2-bed was possible, but if not, I would probably start off around £100k with a maximum of around £105k (however, please do note I have no idea on what price rises in your area have been like, this is based on my local property market and how this has changed since 2016).
Good luck!

SDBradfo

Thanks for your replies.

I do genuinely think we would suit and do admit that the current owner makes it appear very cluttered. We would be buying all furniture for whichever property we move to so would always make the best use of spaces.

I work for a kitchen/bathroom company so can get them updated at staff prices which could help massively I think?

My partner and I are both male so no kids planned... our dog is fairly large but more often than not he’s knackered after long walks.

We were thinking a summer house of some kind of outside cabin to replace the current shed could alleviate some of the space concerns. My mum has two in her garden, both with beds in, for when the kids come home.

I did see that one from 2016 sell at £95k so I definitely think we will start at 100 and probably go no further than 110.

Gwendo40

need_an_answer wrote: »

Its a cluster house and they have a niche appeal.

Some people love them because they are generally freehold and a great alternative to a flat coming with the added bonus of a garden.

They are what they are 1 bed starter homes!
they manage to fit a couple and a pet very nicely.

the one you are looking at needs updating a little and would benefit from a little love...its quite clutter with whats in there at the moment but TBH paint the walls white and reduce the furniture and actually its quite a good space.


Price wise I may go a little lower around £115k with a cheeky start of £110k but actually the fact that its probably not leasehold and will save you management fees and leasehold fees over the next 5 years or so has to be factored in as a big bonus.

.

An offer of £110k on a cosmetically dated £120k house isn't in any way ''cheeky''

Is there a reason why would you be prepared to offer and pay so much for this particular one in this location or are you just not very good at haggling?

SDBradfo

Our offer would likely be 100-105 with an absolute limit of 110 for this property. Anything else in the area (I.e bigger / 2 bed) you’d be looking at 150+ so seems like a decent savings to me? We know the owner is now desperate to sell so could take advantage of the situation? As I said were new to this so any advice is very much appreciated.

need_an_answer

Gwendo40 wrote: »

An offer of £110k on a cosmetically dated £120k house isn't in any way ''cheeky''

Is there a reason why would you be prepared to offer and pay so much for this particular one in this location or are you just not very good at haggling?

I'm very good at negotiation and haggling as it happens,but I'm not actually the one whos looking to buy this property.


The OP needs to work out whether its a sound purchase for them or not.

I happen to believe that these type of cluster homes are very good investments if you are the right type of person/couple to buy them.

They offer a great deal more than a leasehold flat especially when you take into account the lease/management charges that would not be present on this type of property.


If you are a pet owner which I believe the OP is then you have a garden and again no worry about pet consent that may be present in leasehold purchases.

The OP I understand is unlikely to grow their family unit to include the need for another bedroom,so again it could be viewed that the property could be a longer term purchase than 2 or 3 years.

so in answer to your question yes there are reasons why I personally may be prepared to offer up to £115k on this type of property(in the scheme of things its done pretty well in holding its value since the previous owner purchased).


but then again,i'm no more likely to purchase this particular property than you and in fairness we are both merely giving a differing opinion.


OP a property is only worth what you want to pay for it and ultimately what the vendor is prepared to accept.

You could very easily offer sub £100k for it but that doesn't mean to say that's what the vendor will accept.....

If for example your top offer is £112k and the vendor wont move on less than £115k would you walk away for £3k if it was the place you really wanted to live and could see potential in the property going forward.....

jimbog

If you are keen on it I would offer £100K and then wait. If they decline your offer then go at £105K as a final offer and they have to be prepared to take it off the market