What have I done?!?!?

sammiea1976

Trollfever wrote: »

Wants v Needs.

Have u ever been in a townhouse?

Ground floor is one bedroom - right by the front door, this is classed as bed4/study - we use this as a study - we would not put one of our young children in that room as a bedroom right by the front door!

Middle floor is bedroom3 which is big enough to swing a cat! Which our baby is in now

Top floor there are two bedrooms, ome for me and my partner, one for my 6 year old son.

The house we have put an offer in on is also 4 bed but 4 bedrooms on the same floor not over 3 floors, which is obviously better for us as we have 2 small children soon to be a third!

tomstickland

I think the OP is being totally reasonable in their question.
Essentially they have received an inheritance that allowes them to live debt free in a house. They've now seen a slightly larger/more suitable house but it will entail borrowing some money.

A £25K mortgage is not considered large.

I think negotiating on purchase price for the new house is worthwhile. It might not seem "nice", but if the value of the current house has dropped then that's a reasonable starting point. Decide on the max you are prepared to pay and start from there.

Are there are any other houses that might be considered "dream" or "almost dream" that could be purchased for the same price as the current house? Would be worth a look.

sammiea1976

KiKi wrote: »

Hi Sammie

I think that's a very sensible approach. If you have to drop your price further then you can always go to the vendor of your new house and drop your offer.

But you will absolutely need to revise the price of your house...just be absolutely clear with yourself about what price you will *not* drop below. You need to be very clear what is non-negotiable, or it can be tempting to take an offer that's too low. You might want to consider £225K ONO, and then you might get £220K.

Best of luck with it - let us know how you get on. And congratulations on the third baby!

KiKi

Thanks again for yoyr reply.
I said £220k because there is an identical townhouse but one in the middle of 4 townhouses, 2 mins from ours on the main road which has just dropped to 225, they were on when we was on last year! and they keep dropping and dropping and still they have no joy, so really im in competition with them right? Im gutted really, if only i had taken that offer last year of £245k eh!
If they have had no luck being on at £225 what chance have i got with that? Its just such a shame, its such a nice house and if it wasnt for us having more children i would stay here, afterall it was my dream home for me and my little boy when we moved here.
Saying that tho there are two townhouses, one that is two doors away and one that is 4 doors away, both sold in Jan for £235 and £245 so you never know i suppose!

KiKi

January to April makes a big difference, unfortunately!

If you're competing, go with what you feel comfortable, and talk to your EA about a sensible price.

Hinsdight is great, but don't beat yourself up. Make a decision, stick with it, and let us know how you go.

KiKi

sammiea1976

KiKi wrote: »

January to April makes a big difference, unfortunately!

If you're competing, go with what you feel comfortable, and talk to your EA about a sensible price.

Hinsdight is great, but don't beat yourself up. Make a decision, stick with it, and let us know how you go.

KiKi

Thanks Kiki you have really helped, i shall go and speak to the EA tomorrow and let you know how things go. x

Conrad

So the 'house of your dreams' with better everything you think is worth only £25000 more than the one you cant wait to ditch.

I suspect £220000 is way ott, if as you say the other place is so much better.

poppyolivia

Why are people being so rotten to the OP??? Have I missed something???

Good luck OP in getting your dream home, it seems you can afford it, will just be strange for you having to pay a mortgage for a while....you only live once!! Thing is when will this dream property ever come back on the market?....you love it, go for it!

All the best to you xx

pinkshoes

sammiea1976 wrote: »

a house of my dreams 5 mins from my house, up for sale.
This house was up for £265,000, i sat and waited to see if there was any interest, the house then dropped its price to £249,999 - went to view it, loved it and put in a starting off offer of £242,000 - was declined, so went to £244,000 also declined, they accepted our last offer of £245,000.

sammiea1976 wrote: »

We have put ours on the market, been on now a month and a half and we have only had one viewing of which the woman still needed to sell her home which has been on the market since Nov!!! She didnt put in an offer anyway, have not heard back from her.

The EA keep pestering us to lower the price, it was on for £245,000 i have dropped to £235,000 and they are asking me to drop again

I'm confused here.

You've had an offer accepted on your DREAM home for £245k, which is just 5 mins down the road from yours. If this dream home is so much better than your current one, and really close, then that must mean there is no way your current house is worth £245k, as otherwise it would be on an equal par to this other one.

So either you've got a complete bargain on this dream house at £245k, or your current house is vasty overpriced.

Pez2

Do you have a Rightmove link to your house?

d900

any chance your daddy wants to make me mortage free?