Offer Advice

KatieDee

comeandgo wrote: »

I still don't think you have found your house. You know when you do and you would not risk losing it for a few thousand pounds.

I think you're right.

We did offer on another house, would have upped our offer considerably, but the seller had a "first come first served" preference and stuck by his first offer (which I think is incredibly nice of him, actually). I was genuinely upset when I found out we'd lost out on it. I suppose I should wait for that feeling to come around again.

Davesnave

KatieDee wrote: »

I suppose I should wait for that feeling to come around again.

It may depend on how long you've been looking, but with any house I've bought, there's always been an easily identifiable USP. You haven't mentioned one for this house.


To clarify, I'm not suggesting you need to love a property, because I've never felt like that, but I've always known exactly why I was buying. Indeed, my wife and I did our best to walk away from the property we own now; we told the agent we weren't interested after the second viewing, but its combination of advantages called us back a week later.

KatieDee

Davesnave wrote: »

It may depend on how long you've been looking, but with any house I've bought, there's always been an easily identifiable USP. You haven't mentioned one for this house.


To clarify, I'm not suggesting you need to love a property, because I've never felt like that, but I've always known exactly why I was buying. Indeed, my wife and I did our best to walk away from the property we own now; we told the agent we weren't interested after the second viewing, but its combination of advantages called us back a week later.

I've been looking for about 18 months and these three houses are the first ones I've felt happy enough to offer on.

I think the problem is - our budget means no property is going to be perfect. We simply cannot afford the lovely, huge, four bedroom detached house in a quiet area, close to the station that I keep eyeing up. I need to compromise but then that compromise becomes a focus that makes me anxious.

With this house, I do love it. I can see myself living in it and being very comfortable. But I'm holding back because it hasn't sold is about six months and I guess I find it hard to get excited about a house that nobody else wants? Silly really, as I think it's probably just because it's overpriced.

Davesnave

KatieDee wrote: »

I think the problem is - our budget means no property is going to be perfect. We simply cannot afford the lovely, huge, four bedroom detached house in a quiet area, close to the station that I keep eyeing up. I need to compromise but then that compromise becomes a focus that makes me anxious.

It's human nature to think that if there was just another £10k £20k, £50k, or whatever available, the problem of choosing would be solved, but the reality is that almost everyone compromises.

That's why a priority list and knowing exactly why you are buying a particular house is so important, accepting at the start that it won't tick all the boxes.

KatieDee

Davesnave wrote: »

It's human nature to think that if there was just another £10k £20k, £50k, or whatever available, the problem of choosing would be solved, but the reality is that almost everyone compromises.

That's why a priority list and knowing exactly why you are buying a particular house is so important, accepting at the start that it won't tick all the boxes.

Thank you for your words of wisdom

I only have a few concerns about this new property:

• It's link detached with a converted garage (which I never considered to be a bad thing until I googled it!)
• The drive is quite steep
• It's a leasehold (with 960 years left on the lease and £13 a year ground rent - although the freehold is available to purchase)
• It hasn't sold since July (although seriously overpriced)
• It has a North West facing garden (sunny in the photos and not overlooked, but I read SW is the best)

They weren't issues before but I've read so much about them that I've convinced myself it is. I don't even know if the amount I've offered is right.

The area we're looking at really doesn't have much coming up and when nice things do come up, they get offered on in under 24 hours. I'm sick of the games, sick of waiting and I just want to move there and settle down. I have to weigh up if it's worth getting a really nice property that isn't perfect, or whether it's worth waiting for something that might not come up for another year, only to end up in a stressful bidding war on it.

babyblade41

I'd look at your points that you are uncomfortable about as if it were me "

Link detached ..no

Drive way .. not too much of a problem but depends "how steep"

I hate leasehold so no

Not sold but maybe ask (not sure if you will get the truth) if any deals have fallen through, it maybe not just price

North west garden would be a definite no after living with one previously

robatwork

I'm a fan of "full and final" offers. But it's too late now. If you felt 200k was enough you tell the EA that and stick to it.

You could now make, say, 202500 your FAF and let the vendor sit on it, knowing you're still looking at other places.

KatieDee

babyblade41 wrote: »

I'd look at your points that you are uncomfortable about as if it were me "

Link detached ..no

Drive way .. not too much of a problem but depends "how steep"

I hate leasehold so no

Not sold but maybe ask (not sure if you will get the truth) if any deals have fallen through, it maybe not just price

North west garden would be a definite no after living with one previously

Thank you for your thoughts

Pretty much everything in the area is leasehold, so there isn't really any getting away from it unfortunately.

Drive is relatively steep, but it seems as though other people on the road have done a great job of leveling them out without too much work. You can still park on it

Garden wise, neither of us are gardeners so it wouldn't be a huge negative for us, plus the property is in such a green area I can't imagine we'll spend much time in the garden if it's sunny.

I know we're coming up to the busiest time of year for houses to go up for sale, but it's just the process for me. I feel completely drained and incredibly anxious. It's like - do I settle for this one, which is lovely but has the above issues, or wait out for a perfect property that might not exist, or might end up with someone else anyway?

robatwork wrote: »

I'm a fan of "full and final" offers. But it's too late now. If you felt 200k was enough you tell the EA that and stick to it.

You could now make, say, 202500 your FAF and let the vendor sit on it, knowing you're still looking at other places.

I think if we decide to go for it, it'll be £202000. I honestly feel this is a reasonable amount to pay and a bit of a bargain, considering it was on originally for £230,000 (although the vendor is living in a dreamworld if they think that's reasonable).

I could manage with something not perfect if I got a total bargain!

Davesnave

Leasehold is OK if it's a low yearly charge with no potential for hyper above-inflation escalation. Don't forget there can be service charges and restrictive covenants on many modern freehold properties too. As you say, older leasehold houses are very common in some areas, so it's not just a "4legs good, 2 legs bad" reaction one should have to the word, before checking out what it entails..

As regards garden aspect, without knowing the site and surrounding trees/buildings, it's impossible to say what it will be like with regard to sunshine. My last front garden was NW facing and enjoyed sunshine at the end of the day in particular, when the SE facing garden had lost most of it.

Link detached means you are joined to someone's garage or converted garage, I suppose, but unlikely more than that will be allowed by many councils due to the 'terracing' effect. We lived semi detached for 31 years in two houses and only had a neighbour problem (resolved) when we moved here, with over 5 acres buffer zone between us and the problem person!:rotfl:

KatieDee

Davesnave wrote: »

Leasehold is OK if it's a low yearly charge with no potential for hyper above-inflation escalation. Don't forget there can be service charges and restrictive covenants on many modern freehold properties too. As you say, older leasehold houses are very common in some areas, so it's not just a "4legs good, 2 legs bad" reaction one should have to the word, before checking out what it entails..

As regards garden aspect, without knowing the site and surrounding trees/buildings, it's impossible to say what it will be like with regard to sunshine. My last front garden was NW facing and enjoyed sunshine at the end of the day in particular, when the SE facing garden had lost most of it.

Link detached means you are joined to someone's garage or converted garage, I suppose, but unlikely more than that will be allowed by many councils due to the 'terracing' effect. We lived semi detached for 31 years in two houses and only had a neighbour problem (resolved) when we moved here, with over 5 acres buffer zone between us and the problem person!:rotfl:

They must be particular annoying if they manage to cause issues over that distance :rotfl:

The garages have all been converted on that road - we wouldn't really use the converted room, but that property does have a downstairs toilet which was pretty important to me. The other side (which would back on to our living room) looks to have been made into a kitchen or similar? So I cannot see either being noisy.

This photo was taken of the garden early morning I think, so you can see how the sun hits. Personally I cannot see it being a huge problem, but a SW facing garden is always praised in listings, so I cannot help but worry!

Garden

We have been very sensible and have written a long list of pros and cons for both, as well as the financial side of things. Unfortunately we are no closer to making a decision :rotfl: