Input on potential purchase

159

Hi All,

I've had a quick look through the forum to see if there is somewhere in particular to post so my apologies if I have missed it.

My partner and I are looking to move and have viewed a house we like - however as we haven't moved in over 15 years we are unsure of how the market is at the moment and how best to decide on an offer price.

We do know the sellers have rejected an offer they felt was too low but we don't know how much this is for.

We are chain free and have a mortgage in principal ready to go.

Very grateful for any feedback on the house (link posted)

https://www.rightmove.co.uk/properties/92852844#/?channel=RES_BUY

MasterG83

Lovely home, what have the estate agents selling on behalf of the client said?

FlorayG

I must be weird because I never understand this type of post.

Do you really, really want it?

Can you afford the asking price?

I would offer the asking price in that case. If the answer to second question is no, offer the best you can afford. If the answer to both is no, don't make an offer

Every time I've bought or sold a property I have refused to haggle

159

https://forums.moneysavingexpert.com/discussion/comment/82143831#Comment_82143831

Not much so far - it has been on the market for a couple of weeks with steady viewings. The only other info they would offer up was one offer made so far but rejected as too low but would not disclose how much this was for.

We can see from previous sale info the current owners have been there nearly ten years and they purchased for £587k

They have not done anything to the house other than some decorating in that time…

Its so hard to know what an acceptable offer is ( I know it depends on our own personal circumstances also!) so really appreciate any thoughts, or input on things we may not have thought of.

159

https://forums.moneysavingexpert.com/discussion/comment/82143858#Comment_82143858

I understand so many things are down to personal circumstances, how much we like it etc, its more of a worry that my partner and I haven't bought a house in so long (2009 when we were first time buyers!) that things have changed so much and we might miss out on how best to proceed.

In reality our top offer would be around -£25k off the asking price…

MasterG83

What they paid for the house really isn't relevant, the market has changed considerably since then, the purchase price is what they will accept.

We used to have people in the motor trade doing this on cars, by the time they rung and agreed a price it had usually gone, offer what you want to pay, if the turn it down then up your offer, thats how it works.

poseidon1

https://forums.moneysavingexpert.com/discussion/comment/82143859#Comment_82143859

You have understated the extent of works done by the current owners which goes beyond mere decoration.

I can see the downstairs bathroom has been expensively upgraded to a shower wet room, whilst in the landscape garden there is an expensive pergola/ garden room, that did not appear to exsist when the property was last marketed 10 years ago.

Also bear in mind Zoopla average house price increases over last 10 years across England is 43%, this property price is well under that average.

I am with @FlorayG on this. Put in your best offer but prepare to be rebuffed. If you really want it and see it as potentially your forever home then stretch your budget to within touching distance of asking price to give yourself best chance of success. The last thing you want is if the agent eventually believes there maybe sufficient justification to go to sealed bids.

It seems to be turnkey condition, so how does it compare to others you have seen at that price point (assuming you have seen much)?

Although we are in a slow market, standout properties likely buck the trend. This property has not been on the market long and apparently attracted a serious offer. There is a saying, 'you snooze you lose'.

lincroft1710

Band D Council Tax seems far too low, I would have thought Band F but as it is semidetached Band E seems more appropriate (Bishops Stortford was an area I dealt with when working at the VO). The second FF bedroom has steeply sloping ceilings and there is no FF "family bathroom". Bed 4 is small. No cloakroom just a GF "family bathroom". I personally don't like a large open plan living/dining/kitchen. Do you really want to be maintaining a 200 ft long garden?

Basically it is an overextended semidetached bungalow. If the layout works for you, fine. For me, I'd be looking for something else.

159

https://forums.moneysavingexpert.com/discussion/comment/82143897#Comment_82143897

You are right - my apologies! The bathroom has been redone and a garden room added.

I appreciate the feedback so far guys.

It has helped having input from others outside the two of us.

We will put in an offer we are comfortable with and take it form there :)

Yorkie1

https://forums.moneysavingexpert.com/discussion/comment/82144122#Comment_82144122

Re. Stanstead airport, that's a really good point. The village is almost directly underneath the flight path.

EDIT (got the directions the wrong way around!): The default direction of plane travel there is landing and taking off into the prevailing wind from the SW, so planes taking off will be leaving the airport over the village and then turning at about 1500 - 2000 feet above the ground.

When the wind changes certain direction, planes will arrive from the SW and therefore are likely to be fairly close to the village. They will take off into the NE.

Planes do arrive and depart quite late into the night. But I guess most people would get used to it.

The Flightradar24 app is really helpful for seeing what planes are doing, expected arrivals / departures - and delays!

RedFraggle

You'll probably get used to plane noise if neither of you have sensory challenges. It's a lovely property and as ever it's worth what somebody is prepared to pay. I'd put an offer in and see what comes