Do you view houses above your budget?

booksandbikes

Just curious really....

We are about to start the house hunting process, just looking on Right Move at the moment while waiting for a valuation on ours. Do you view houses that are above budget - and if so by how much?

lika_86

Look at on Rightmove? Yes.

View? Only if an offer within budget might in theory be acceptable to a seller. 

onemouseplace

Yes, I did but only up to a certain level - what that was would depend on the house and how long it had been on rightmove for.  I definitely got a feel for what was priced ambitiously and what was priced to sell when I was looking.

It is one reason I find it a bit odd that some people say to price according to Rightmove category otherwise buyers might not see your property - I always looked at least one or two categories above my budget in case a deal was to be done!

peterhjohnson

Yes, especially if I can't work out why the high price is being asked. I once was the only bidder for an overpriced house and negotiated it down to a reasonable level.

RHemmings

It depends on the definition of 'budget'. I did look at houses over my target price for a house, but nothing that I couldn't actually afford. 

The advantage of buying a house outside London... 

theartfullodger

You never know what offer might be acceptable.  Especially if you are otherwise v attractive (eg cash buyer, can complete in 5 days...).

RHemmings

theartfullodger said:

You never know what offer might be acceptable.  Especially if you are otherwise v attractive (eg cash buyer, can complete in 5 days...).

... are prepared to let them bury their dog in your garden. 

booksandbikes

RHemmings said:

It depends on the definition of 'budget'. I did look at houses over my target price for a house, but nothing that I couldn't actually afford. 

The advantage of buying a house outside London... 

Hmm, I'm currently looking at houses around 5 - 7% above what I can afford. Trying to determine whether I am wasting my time doing this! 🤦‍♀️Annoyingly, it feels like all the houses I really like are just above my budget!  

booksandbikes

RHemmings said:

theartfullodger said:

You never know what offer might be acceptable.  Especially if you are otherwise v attractive (eg cash buyer, can complete in 5 days...).

... are prepared to let them bury their dog in your garden. 

Ahhh, I remember that thread from way back! 

pjs493

I researched houses that were up to my upper limit, which I was only willing to go up to for the perfect house. As it turned out I only viewed one house at that limit and it was sort of pushed on me by an estate agent because I was in the area anyway and it had just come on the market. It wasn't the perfect house so I quickly discounted it. I wouldn't have viewed it if I wasn't literally around the corner viewing another property with them at the time.

The house I've ended up buying was on for 'offers over' a set price and I wanted to stay just below that so I had plenty of budget for a new kitchen, new bathrooms, redecoration, etc. I am also in the position of being a cash buyer, but was willing to get a small mortgage for the 'perfect' house if it cost a bit more than I wanted to spend. I ended up getting the house I'm buying for 7.5% under the 'offers over' price, I was prepared to walk away and put an offer in on another property if the vendor insisted on 'offers over' because it needs a lot of work doing to it compared to similar properties on for that price. For me, remaining a cash buyer if possible was key and I managed to achieve that.

RHemmings

booksandbikes said:

RHemmings said:

It depends on the definition of 'budget'. I did look at houses over my target price for a house, but nothing that I couldn't actually afford. 

The advantage of buying a house outside London... 

Hmm, I'm currently looking at houses around 5 - 7% above what I can afford. Trying to determine whether I am wasting my time doing this! 🤦‍♀️Annoyingly, it feels like all the houses I really like are just above my budget!  

If you look at Zoopla sold house prices, then you can often find out what the asking price was, and what the actual sold price was. I'm not sure how it handles price reductions on its portal - there only seems to be one price for 'listed at', and then the sold price. But, this should tell you if there are houses in your area in the price range you're looking at that sell for what you can afford. 

pjs493 said:

I researched houses that were up to my upper limit, which I was only willing to go up to for the perfect house. As it turned out I only viewed one house at that limit and it was sort of pushed on me by an estate agent because I was in the area anyway and it had just come on the market. It wasn't the perfect house so I quickly discounted it. I wouldn't have viewed it if I wasn't literally around the corner viewing another property with them at the time.

The house I've ended up buying was on for 'offers over' a set price and I wanted to stay just below that so I had plenty of budget for a new kitchen, new bathrooms, redecoration, etc. I am also in the position of being a cash buyer, but was willing to get a small mortgage for the 'perfect' house if it cost a bit more than I wanted to spend. I ended up getting the house I'm buying for 7.5% under the 'offers over' price, I was prepared to walk away and put an offer in on another property if the vendor insisted on 'offers over' because it needs a lot of work doing to it compared to similar properties on for that price. For me, remaining a cash buyer if possible was key and I managed to achieve that.

At one time I was looking to get a small mortgage to tide me over until I received more money. But, after speaking to some in-house mortgage advisors, I decided to stay a cash buyer. It's just so much easier, if possible.