Is this house worth for 300k?

moksud_xp

www.onthemarket.com/details/14509821/

I'd like some feedback on the value of this house. The owner wants at least 300k. We love the design of the house, and owner told us in future we could get an extension in the back in order to get a bigger kitchen and dining room.

Anyone had any feedbacks or any suggestions please?

RHemmings

The last similar house on the same road to sell was 33 Buckworth Road, also a 4 bed detached. That went for £285k, in December 2023. It had sold for £284,950 in June 2022, which I guess was when it was new as that estate appears to still be being built. No. 33. looks to be an identical house, and garden, to the one for sale, which I'm thinking is No. 32. Except that maybe No. 33 is a bit more off the road and private. 

In which case, I'd think that likely the house you are looking at is worth £285k. As I'm not yet convinced that prices are rising significantly. 

But, that's just what I think. As a random person on the internet. 

EDIT: It seems that house prices have gone up by 2.3% between July 2023 and July 2024. No 33 sold in December 2023, so inflation should be less. But, if the price had risen by 2.3% (generous) the house would be worth £291k. 

FreeBear

moksud_xp said:

www.onthemarket.com/details/14509821/

I hope they checked the floor was strong enough to take the weight of that safe - Those things are usually darned heavy !

Dustyevsky

As people always say here, the house is worth what someone is prepared to pay for it.

You can, of course, rationalise, as RHemmings has done here, and tha's a good thing to do if pitching well below the asking price.

RHemmings

Dustyevsky said:

As people always say here, the house is worth what someone is prepared to pay for it.

You can, of course, rationalise, as RHemmings has done here, and tha's a good thing to do if pitching well below the asking price.

In hindsight, it seems that I may have confused houses. As No 33 has sold in 2022, but in the satellite image it looks as if it's still being built. In any case, I couldn't see anything ever having sold for £300k. I think this is an example of 'aspirational pricing' when selling a house, but not by a huge margin. 

RelievedSheff

What does it matter what anyone on here thinks it is worth?

What it is worth to you is all that is important.

BarelySentientAI

RelievedSheff said:

What does it matter what anyone on here thinks it is worth?

What it is worth to you is all that is important.

And what it's worth to someone bidding against you. 

And what it's worth to the seller. 

But as we are neither of those things, I agree.

Bigphil1474

We sold our house at £10k below asking price, which was fine as the EA gave us a range for value and it was marketed towards the higher end. We got what we wanted for it. I suspect this may have been valued for marketing by the EA as something like £290 to £300k, and the seller has gone for the higher end. If someone else bids £299k, is it worth it to you to pay an extra £1k? If you're the only bidder then it's probably worth starting below £300k and working up. If it was me, I'd offer £285 and go from there.

ReadySteadyPop

moksud_xp said:

www.onthemarket.com/details/14509821/

I'd like some feedback on the value of this house. The owner wants at least 300k. We love the design of the house, and owner told us in future we could get an extension in the back in order to get a bigger kitchen and dining room.

Anyone had any feedbacks or any suggestions please?

mmm If you search 4 beds up to 400k there are much better houses for not much more, it is bland and overpriced TBH.

Marvel1

For a 4 bedroom, the living room looks too small.

ReadySteadyPop

RelievedSheff said:

What does it matter what anyone on here thinks it is worth?

What it is worth to you is all that is important.

If you are using mortgage debt to buy it all that matters is what your lender`s valuation says. In this environment to ignore a lender`s valuation (which will more than likely be lower than the seller`s expectations anyway) would be reckless IMO.