Property Opinions

Bodders11

Hi all,

Looking for some feedback on a property that my partner and I are considering submitting an offer for: https://www.rightmove.co.uk/property-for-sale/property-85522400.html.

We have viewed the property twice now and are both very satisfied. However, we aren't willing to pay asking price for this property. Always interested in views of others with regards to property so any comments welcome.

Thanks.

G_M

How does the condition and price compare to recent similar local sold prices?


How much do you want it? If you did notbuy it, would you be easily able to find another property you like as much?


Can you afford it?

ec9wrr

Is there space for a fridge / freezer in the kitchen? From the photos it looks like it’s in the utility room which would drive me mad.

moving1moretime

Go on Zoopla and Rightmove and look up the sold house prices in that street, and location....for what it's worth i think it's very nice

Bodders11

G_M - we want it a lot but we can't afford asking price and, to be honest, dont think it's worth it. We would have to be patient but could eventually find somewhere similar.

Ec9wrr - yes, they are all integrated thankfully!

So, in terms of other properties sold recently, this is an interesting example: https://www.zoopla.co.uk/property/63-wroxham-road/poole/bh12-1nl/1793660.

Similar style and layout albeit probably more spacious than the one I'm currently interested in. Probably a strong indication that asking price is unrealistic.

AdrianC

How much below asking price do you think the vendor will regard as a reasonable offer, considering it's only been on the market three weeks?

Bodders11

We would be happy to pay in the region of £360k. Based on the current market, locally sold properties of a similar style and the fact it's 96% of asking price I would consider that to be a fair and reasonable offer.

Aspiration

I havn't looked at the comparable prices but do think the property looks really nice!

warby68

The property looks lovely.

Your problem is that its only been on the market for 3 weeks. Most buyers want to wait a reasonable period to test the market so may not accept ANY offers unless they're nice and generous until they feel its been tested enough.

For a lovely property, which this seems to be and not on the market long I'd make my offer close to my very best one and not start low, which I would for something that had been on the market a good while and clearly not attracting people so much.

You have to balance what you can afford with how much you want it and how much YOU perceive it to be worth. If you've been researching your target area then you probably have a fair idea. Plus your ability to proceed compared to others.

With a house of this price, my personal opinion would be that an extra £5k-£10k to secure a 'dream' home is worth it and evens out over the time you're in a house. If you start to keep losing good houses for the sake of £5k you will start to get the message.

If you genuinely can't afford more than £360k you might just be overreaching a little and have to be patient.

AdrianC

Bodders11 wrote: »

We would be happy to pay in the region of £360k. Based on the current market, locally sold properties of a similar style and the fact it's 96% of asking price I would consider that to be a fair and reasonable offer.

The question is - will the vendor, so quickly...?

PasturesNew

Many prices in that area are back to 2017 prices.

"Good" houses are snapped up, others languish.

£360k would be a fair price imho based on many local properties sold prices. Don't forget, the next "sold prices" update will be in the next 2-3 days, they might give you more comparables to back up your offer.

All sales are down to: how many other people will want that house in this area.... and that's the bit you don't know. So then it's down to picking your price and sticking with it, prepared to walk away ....

One of your competitors for any house will be "people from London way who see all prices as cheap", these are the people houses are priced for.... so it's down to your ability to find a seller prepared to accept your offer and you being prepared to walk away from it.

Houses in that location do go pretty quickly, when priced right. It's not too far off a right-ish price, if you like the house/style/layout.

Also, how flexible are you on location/what a house offers? Is this the only one that's caught your eye? What are your Top 5 Tick List items?

If you are prepared to lose it... you could wait to see if they reduce it in the next week by £10k, or £25k ... then make your move... or if you have a fear of missing out then make your move this week. You'd be gutted if you saw it went for £340k and you just assumed.

I saw one for sale at £295k last year (when I wasn't in a position to buy) - it flew off the shelf within a couple of weeks and I assumed it was for full price.... it turned out to have sold for £280k!! On the other hand I've seen some that have dropped by just £5k in 9 months and are on with 3 agents and still sitting unsold. I'm also seeing quite a few drops from £360k down to £300k. You never know the price until you throw a number down.