Can I get your opinion on this House?

cybervic

This property was sold at Auction for £260,000 in Dec/19 with tenants in situ at the time. 

https://auctionhouselondon.co.uk/lot/?lotID=93518

This is in fact an end of terrace house, not a semi-detached. Several properties were sold at various price in the last 3 years. I have found these two with images and full description of the conditions.

46 Whetstone Road, London, SE3 8PX

Sold @ £360,000 on 10/Feb/2017 

https://www.zoopla.co.uk/property-history/46-whetstone-road/london/se3-8px/42582491

30 Whetstone Road, London, SE3 8PX

Sold @ £375,000 on 6/Dec/2018

https://www.purplebricks.co.uk/brochure/531708

If a house nearby in good condition can be sold for £375K 2 years ago, then it’s understandable the other nearby house is marketed at £400K right now and this makes £325K seem like a reasonable market price….pre-covid. However, it doesn’t mean the property is definitely worth the marketed price, it’s only worth what someone is willing to pay. You have to judge how the area is doing recently and in current climate. I’d think £300K is a good starting point. Good luck.

bouicca21

I did that sort of commute for many years, which is precisely why I warn against it!  But if you are happy with it, then that house has loads of potential.  Personally I’d live in it for a bit before deciding on the detail of what do do (like where to put the power sockets) but I can already see the overall possibilities.  

You might want to suss out the journey starting by bus to North Greenwich. It might be a few minutes longer but possibly more comfortable (??).

hazyjo

General advice is to buy the worst house on the best street, not to have the best house on the worst street. What you have to work out is is it worth spending money on *that* house. Would it be better spending more in the first place and buying it a better street. What do 'done' houses usually go for on those roads?

hazyjo

Seem to have lost my post. What about these? Better locations.

https://www.rightmove.co.uk/property-for-sale/property-70784325.html

https://www.rightmove.co.uk/property-for-sale/property-68424969.html

https://www.rightmove.co.uk/property-for-sale/property-67523568.html

bouicca21

First is part of the old LCC estate.  Short walk to shops and station.  

2nd is on the Progress estate which is considered very desirable, well located for the station. I think this is a winner.

dont know too much about That  New Eltham Street but it’s a long walk from the station and you take your life in your hands when crossing the A20 to get to the station.

I’d definitely go for the Progress Estate cottage.  Nice area and with that sort of commute the shorter walk to the station is going to be really beneficial.  I think even at Eltham you can still Just about get a seat on the train.

bouicca21

Of course getting a seat on the train might be far easier if more people work from home, but in my day getting a seat was such a bonus!

hazyjo

bouicca21 said:

First is part of the old LCC estate.  Short walk to shops and station.  

2nd is on the Progress estate which is considered very desirable, well located for the station. I think this is a winner.

dont know too much about That  New Eltham Street but it’s a long walk from the station and you take your life in your hands when crossing the A20 to get to the station.

I’d definitely go for the Progress Estate cottage.  Nice area and with that sort of commute the shorter walk to the station is going to be really beneficial.  I think even at Eltham you can still Just about get a seat on the train.

It is pricier, but they may take an offer on that Progress Estate one. Know it very well as used to live in Cornwallis Walk (comprises only 4 houses) off of Granby Road 😂

Rony

@cybervic
Thank you for that comprehensive analysis, was useful.

@bouicca21
I understand. If I can find a place that is half hour commute to work and also nearish to family (which is basically Central East London) then I would, however I cannot afford it! This is the next best for me.

@hazyjo
Oh wow, thank you for those! I'm surprised these haven't come up in my Whitechapel 5 mile search. Maybe these are just outside that range.

The first one looks really good. What am I to do? Can I put down an offer on the Kidbrooke one and still continue viewing? I think that would be slightly unethical right? Maybe I should plan a viewing for these ones then think of which one to go for, however I risk losing out on the first one if someone else gets in.

The second one looks really good as well! However at £375k slightly outside my budget. But I guess an offer of £350k is less than a 10% discount so is within reason.

The third one looks nice, however it is getting a bit further out now and is also smaller sqrfootage than the others.

Also I have looked at some other places today as well and might go for a viewing. Maybe it's best I stall this offer and go to some more viewings first. It could also work in my favour for the Kidbrooke one, as say it still isn't under offer a week/two weeks later, it could suggest lack of demand and my £300k might be more appealing.

Thanks! Imagine if I end up getting one of these houses you suggested, you'd be responsible for a big part of my future! Haha thanks,

hazyjo

The first one is the least best out the 3. Defo try for the middle. The Progress Estate is pretty popular. New Eltham (3rd house) was considered slightly nicer than Eltham. It may have changed. Your search bracket thing is fine, but you'd prob need Eltham station for the house you initially started the thread about, even though it's SE3, so you should keep some alerts set for Eltham on rightmove. It's not the worst area in the world and you have lovely Blackheath and Greenwich on the doorstep

Rony

@hazyjo

I see. Okay. The more I look at the 3rd one the more I like it, the house is beautiful on the inside, I literally have to do no work.

I think I will just book to see all of them. I will have a busy week next week!

Thanks,