Looking for positive house FTB purchase stories

amieloustew

Hi

I'm looking to read some positive stories about First Time Buyer experiences.

In a bit of a rut with searching for homes, finding an ideal property and having buyers asking way over value/being in high demand, and need something positive to read.

ignore if you don't care lol - Last house I had my eye on has been sold STC twice now as sellers have found a new house but chain isn't complete higher up and are looking for someone who is willing to wait a few months or even longer (me and my partner!!) but they are asking well over the homes value as it is in demand and know people will pay over the odds. I offered our highest and it was flat out rejected (this was slightly over the Home Report Value) so we left the offer on the table. I suspect someone has swooped in with a very high offer and they have been swayed. However, I will not hold out hope in case the sale falls through..AGAIN.

Maybe a little optimistic ^^

Thanks

george4064

Where in the country are you looking?

Are you currently renting now or living with parents?

RelievedSheff

There is no magic wand for this. You just have to find the right house.

It does sound as though you need to set your sights a little lower though if what you think is over valued is actually going under offer/SSTC quickly!

amieloustew

RelievedSheff wrote: »

There is no magic wand for this. You just have to find the right house.

It does sound as though you need to set your sights a little lower though if what you think is over valued is actually going under offer/SSTC quickly!

I just need some positive reading to keep my mind off it ha!
Unfortunately, it's slim pickings in the area I am looking and not in a position to offer over the value as I've found it hard enough to save for a deposit as it is.

amieloustew

george4064 wrote: »

Where in the country are you looking?

Are you currently renting now or living with parents?

We are looking in Glenrothes area, Fife and currently both living with parents

oystercatcher

If people are paying over the odds then clearly the home IS worth that much to them and maybe others.

Perhaps if you look at slightly cheaper homes and go over the odds you may have more chance ?

My son and his wife bought just over a year ago in Cambridge where the market is mad still. They ended up paying well over the asking price and all those who offered in the right region were 'interviewed' by the seller, she liked them because they were going to live there and have a family and weren't buy to let investors. In fact she liked them so much that when they had to leave their college rental flat and the house purchase had been delayed she let them live in the house 'as guests' for a couple of months until the purchase completed ! So that saved them a few thousand in rent or the hassle of living with us and a longish commute. Looking back at sold prices for the area they haven't overpaid so I think the offers over asking price was just happening everywhere in that area and it may well be the same where you are OP.

MovingForwards

What is your budget as Glenrothes is a good priced area, I even seriously considered it but the commute would have got a bit much.

Does it have to be Glenrothes? Can you look a bit further down (leven / burntisland)?

amieloustew

MovingForwards wrote: »

What is your budget as Glenrothes is a good priced area, I even seriously considered it but the commute would have got a bit much.

Does it have to be Glenrothes? Can you look a bit further down (leven / burntisland)?

Budget at the moment is around 120k and yes, I have considered properties a little further out (Kirkcaldy, Leven etc.) but its finding the balance for both of us (work, family, areas, schools etc.)

lincroft1710

As you appear to be in a seller's market and do not seem to be able to afford what you really want, you will either have to look at cheaper properties and/or compromise on your requirements or delay buying until you have saved more.

Not positive reading but realistic.

Paully28

amieloustew wrote: »

Hi

I'm looking to read some positive stories about First Time Buyer experiences.

In a bit of a rut with searching for homes, finding an ideal property and having buyers asking way over value/being in high demand, and need something positive to read.

ignore if you don't care lol - Last house I had my eye on has been sold STC twice now as sellers have found a new house but chain isn't complete higher up and are looking for someone who is willing to wait a few months or even longer (me and my partner!!) but they are asking well over the homes value as it is in demand and know people will pay over the odds. I offered our highest and it was flat out rejected (this was slightly over the Home Report Value) so we left the offer on the table. I suspect someone has swooped in with a very high offer and they have been swayed. However, I will not hold out hope in case the sale falls through..AGAIN.

Maybe a little optimistic ^^

Thanks

Sounds like you need to lower your expectations, and/or move away from the area you want to ideally be in as you can only say 'the houses are overvalued', if noone is buying. Sounds more of a case of you cannot afford what you would like.

PasturesNew

The trouble with the lower end of the market is you're not competing with other home buyers, but also lots of BTL landlords.

More houses are bought by BTL LLs for, say, £200-300k, than are bought for, say, £350-450k.