Cheeky offer

mi-key

SandyN21 said:

mi-key said:

gazfocus said:

I don’t agree that houses are always priced with their current condition in mind. A house we recently viewed was around the same price of other similar sized, better condition houses in the same area. On viewing the house, without even looking at the ‘modernisation’ needed, it needed a new roof, new windows and doors (the window frames were rotten, and two windows smashed), needed new central heating and a complete rewire. Not to mention a new kitchen and bathroom. We calculated that we’d need to knock £45k off just for the above (the house was on at £145k), so we decided to not even offer. 

No way had the house been valued with the above urgent repairs taken into account. 

A lot can depend on the buyer too. Someone in their 60s buying a traditional style house may prefer a more traditional look and not want tacky grey laminate flooring everywhere and everything painted white and grey and 'live, laugh, love' wall decorations !

Lol....I sold my house in March and the buyers were downsizers in their late 70s.  I'd taken it off the market after receiving 'cheeky offers' and put it back on the market after doing it up and they loved the grey and white combo - I even got £30K over the asking price as there were multiple offers 😃

I actually quite like that look ( apart from the floor ) for an entrance hallway. I think it can look quite cold for reception or bedrooms though. 

RelievedSheff

mi-key said:

SandyN21 said:

mi-key said:

gazfocus said:

I don’t agree that houses are always priced with their current condition in mind. A house we recently viewed was around the same price of other similar sized, better condition houses in the same area. On viewing the house, without even looking at the ‘modernisation’ needed, it needed a new roof, new windows and doors (the window frames were rotten, and two windows smashed), needed new central heating and a complete rewire. Not to mention a new kitchen and bathroom. We calculated that we’d need to knock £45k off just for the above (the house was on at £145k), so we decided to not even offer. 

No way had the house been valued with the above urgent repairs taken into account. 

A lot can depend on the buyer too. Someone in their 60s buying a traditional style house may prefer a more traditional look and not want tacky grey laminate flooring everywhere and everything painted white and grey and 'live, laugh, love' wall decorations !

Lol....I sold my house in March and the buyers were downsizers in their late 70s.  I'd taken it off the market after receiving 'cheeky offers' and put it back on the market after doing it up and they loved the grey and white combo - I even got £30K over the asking price as there were multiple offers 😃

I actually quite like that look ( apart from the floor ) for an entrance hallway. I think it can look quite cold for reception or bedrooms though. 

We have a similar colour to that in our living room and find it to be a warm and cosy room. I think it very much depends on how you furnish the room around the colours.

SandyN21

mi-key said:

SandyN21 said:

mi-key said:

gazfocus said:

I don’t agree that houses are always priced with their current condition in mind. A house we recently viewed was around the same price of other similar sized, better condition houses in the same area. On viewing the house, without even looking at the ‘modernisation’ needed, it needed a new roof, new windows and doors (the window frames were rotten, and two windows smashed), needed new central heating and a complete rewire. Not to mention a new kitchen and bathroom. We calculated that we’d need to knock £45k off just for the above (the house was on at £145k), so we decided to not even offer. 

No way had the house been valued with the above urgent repairs taken into account. 

A lot can depend on the buyer too. Someone in their 60s buying a traditional style house may prefer a more traditional look and not want tacky grey laminate flooring everywhere and everything painted white and grey and 'live, laugh, love' wall decorations !

Lol....I sold my house in March and the buyers were downsizers in their late 70s.  I'd taken it off the market after receiving 'cheeky offers' and put it back on the market after doing it up and they loved the grey and white combo - I even got £30K over the asking price as there were multiple offers 😃

I actually quite like that look ( apart from the floor ) for an entrance hallway. I think it can look quite cold for reception or bedrooms though. 

Thanks...that picture didn't show the real colour of that flooring as it's a light grey also the hallway was always flooded with light from the large stain glass windows that are on the landing.  Only posted that picture cause I'm in my middle 60s looking for my 'forever'  home while renting after selling my house and I love those colours.  And I'm definitely going to be putting in cheeky offers...but maybe starting around 15% under asking. 

BikingBud

RelievedSheff said:

lookstraightahead said:

mi-key said:

caprikid1 said:

At the end of the day house prices overall are 100% linked to what banks will lend against them, there is not enough property bought for cash to distort the market to a great extent, somewhere in the chain there are always a high percentage of buyers borrowing money. It is therefore the banks and valuers who in reality set house prices. Estate agents merely suggest what they think is achievable. 

The challenge with a cheeky offer is can you be taken seriously, probate properties are notoriously the worst along with separating couples to buy, you will always get one party focused on maximising their personal return or maximising the inconvenience to the other person. Many fixer uppers are more suited to auction but sellers know the price achieved is likely to be less so they try the high street first.

If you want a fixer upper at a bargain price do your research and go to auction.

Lender valuations are meaningless unless you are stretching yourself to the limit to buy somewhere. For most people who have a decent deposit to put down from their own sale, they don't make any difference 

Most people aren't daft enough to sink a large deposit into something that's been valued at much less.

Does that not rather depend how much they want that particular property?

A significant part of that though is not the specific property per se but the fear and pressure that comes from not being "on the property ladder", the perception that rent is wasted money and that they are missing out on the great property inflation sunshine cruise.

mi-key

SandyN21 said:

mi-key said:

SandyN21 said:

mi-key said:

gazfocus said:

I don’t agree that houses are always priced with their current condition in mind. A house we recently viewed was around the same price of other similar sized, better condition houses in the same area. On viewing the house, without even looking at the ‘modernisation’ needed, it needed a new roof, new windows and doors (the window frames were rotten, and two windows smashed), needed new central heating and a complete rewire. Not to mention a new kitchen and bathroom. We calculated that we’d need to knock £45k off just for the above (the house was on at £145k), so we decided to not even offer. 

No way had the house been valued with the above urgent repairs taken into account. 

A lot can depend on the buyer too. Someone in their 60s buying a traditional style house may prefer a more traditional look and not want tacky grey laminate flooring everywhere and everything painted white and grey and 'live, laugh, love' wall decorations !

Lol....I sold my house in March and the buyers were downsizers in their late 70s.  I'd taken it off the market after receiving 'cheeky offers' and put it back on the market after doing it up and they loved the grey and white combo - I even got £30K over the asking price as there were multiple offers 😃

I actually quite like that look ( apart from the floor ) for an entrance hallway. I think it can look quite cold for reception or bedrooms though. 

Thanks...that picture didn't show the real colour of that flooring as it's a light grey also the hallway was always flooded with light from the large stain glass windows that are on the landing.  Only posted that picture cause I'm in my middle 60s looking for my 'forever'  home while renting after selling my house and I love those colours.  And I'm definitely going to be putting in cheeky offers...but maybe starting around 15% under asking. 

Having worked as a woodworker in my past, I am just allergic to anything that isn't real solid wood  

mi-key

Does that not rather depend how much they want that particular property?

A significant part of that though is not the specific property per se but the fear and pressure that comes from not being "on the property ladder", the perception that rent is wasted money and that they are missing out on the great property inflation sunshine cruise.

Renting ( in general ) is wasted money though. At least when you own your own property the money you pay each month is going some way to building up some equity, and historically prices do always go up over the long term.

I imagine most people think of their house as a home, rather than an investment to make them money

More importantly is you have security when you have your own house. You aren't at the mercy of a landlord who decides to sell, or increases the rent all the time

Emily_Joy

mi-key said:

Having worked as a woodworker in my past, I am just allergic to anything that isn't real solid wood  

@mi-key do you know of any firm that it is still working with solid wood? The one we have used in the past sadly closed just before lockdown. I spoke to one of their employers that worked on our house - he has now moved to another bespoke cabinet maker but they don't do solid wood, best they can offer as wooden-ish front panels, which is not quite the same. (But probably eco-evironment-you-name-it friendly).

mi-key

Emily_Joy said:

mi-key said:

Having worked as a woodworker in my past, I am just allergic to anything that isn't real solid wood  

@mi-key do you know of any firm that it is still working with solid wood? The one we have used in the past sadly closed just before lockdown. I spoke to one of their employers that worked on our house - he has now moved to another bespoke cabinet maker but they don't do solid wood, best they can offer as wooden-ish front panels, which is not quite the same. (But probably eco-evironment-you-name-it friendly).

None that I can recommend sorry. Sadly proper cabinet making is a dying art now as most people won't pay for real wood

lookstraightahead

mi-key said:

Does that not rather depend how much they want that particular property?

A significant part of that though is not the specific property per se but the fear and pressure that comes from not being "on the property ladder", the perception that rent is wasted money and that they are missing out on the great property inflation sunshine cruise.

Renting ( in general ) is wasted money though. At least when you own your own property the money you pay each month is going some way to building up some equity, and historically prices do always go up over the long term.

I imagine most people think of their house as a home, rather than an investment to make them money

More importantly is you have security when you have your own house. You aren't at the mercy of a landlord who decides to sell, or increases the rent all the time

So many people (usually home owners) see renting as wasted money. I felt pressured into buying at 21 and it was by far the most ridiculous decision (for me) I ever made, and it was under pressure from everyone telling me not to rent. It totally ruined me financially (negative equity), it started a spiral of debt, and it stopped me moving around and building my career the way I wanted to. I didn't learn then either, as I bought an old house which ate every penny I had and I sold it at a loss because of divorce.

if you're not going to move much, if you live your life in a linear way, and if life doesn't throw you curve balls then I agree. But to talk about renting being wasted money depends entirely on your situation.

I've bought now with a very small mortgage which I will pay off quickly, because landlords treated me so much better than the bank, who were definitely the wolf at my door. I don't see myself as secure house-wise until I have the deeds. So landlord or bank, I still don't 'own'.

caprikid1

lookstraightahead said:

mi-key said:

Does that not rather depend how much they want that particular property?

A significant part of that though is not the specific property per se but the fear and pressure that comes from not being "on the property ladder", the perception that rent is wasted money and that they are missing out on the great property inflation sunshine cruise.

Renting ( in general ) is wasted money though. At least when you own your own property the money you pay each month is going some way to building up some equity, and historically prices do always go up over the long term.

I imagine most people think of their house as a home, rather than an investment to make them money

More importantly is you have security when you have your own house. You aren't at the mercy of a landlord who decides to sell, or increases the rent all the time

So many people (usually home owners) see renting as wasted money. I felt pressured into buying in my early twenties and it was by far the most ridiculous decision I ever made. It totally ruined me financially (negative equity), it started a spiral of debt, and it stopped me moving around and building my career the way I wanted to. I didn't learn then either, as I bought an old house which ate every penny I had and I sold it at a loss because of divorce.

if you're not going to move much, if you live your life in a linear way, and if life doesn't throw you curve balls then I agree. But to talk about renting being wasted money depends entirely on your situation.

I've bought now with a very small mortgage which I will pay off quickly, because landlords treated me so much better than the bank, who were definitely the wolf at my door. I don't see myself as secure house-wise until I have the deeds. So landlord or bank, I still don't 'own'.

 I did exactly the same as you bought a house young moved around , built my career, London various places, rented the house out , had lodgers to keep it as a base, then rented it out fully.

Kept it through all changes in my life. Cost me £40,000 now worth £300,000 and gives me an income of £12000 a year and a gain of £260,000 best decision I ever made, it was a fixer upper too.

I guess we can all find something to blame for our failures in life.

Rented lots of times when I moved, never viewed it as wasted money, merely a cost effective short term solution for accommodation but not a long term desire.