Comparing with the house down the road...

Falafels

Qwerty0987 said:

lincroft1710 said:

You can offer whatever you want.

Whether or not your offer is accepted is a different matter. Also, nothing personal, but some vendors don't welcome FTBs as they tend to be over cautious, often leading to delays in the purchase process.

I assumed being a first time buyer would go towards our favour

Not necessarily. I'd much rather sell to someone who knew what was what, rather than a FTB with unrealistic expectations and an attitude of entitlement (btw, I'm not suggesting for a minute that you are, it's just that you need to be aware that not everyone welcomes FTB's!)

As for the price paid for the house down the road - do you actually KNOW what it went for, or are you just looking at the asking price? If you know it sold for that rate, because the sale has completed, then property values will have increased in excess of £5k since that house was put on the market because of the time lag and rising property prices.

If it hasn't completed, then nobody is any the wiser.

DayDreamerandGeneralWaster

When did this other house sell and do you know what the selling price actually was? 
If you don't like the price, don't offer. You cant expect money off because in your opinion another house was better value. 
It can also depend on the area, sometimes houses that need no work can be a similar price to those that do. I would pick something that needs work every time - l know what l like and what works for me so l can put it in. 

getmore4less

Qwerty0987 said:

So the house we're considering is on sale for 5k above the exact same house down the road that is further away from a train track, has pvc windows instead of old wooden ones, old furnishings and decor (kitchen, bathroom etc). That house sold for that rate (415).

So surely this house we're considering should be sold for a lower value than that? But it's already had an offer. So our natural instinct would be to go in for asking price but we don't think it's worth it especially considering the house down the street. 

So my question is, despite there already being an offer on the table, can we still go for a low price especially considering we're first time buyers and ready to move?

when?