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  • FIRST POST
    • dannyjebb
    • By dannyjebb 14th Mar 17, 11:00 PM
    • 383Posts
    • 82Thanks
    dannyjebb
    House price
    • #1
    • 14th Mar 17, 11:00 PM
    House price 14th Mar 17 at 11:00 PM
    So we are looking at a new build priced at 244k the exact same style sold in March 2015 for 195k according to the nationwide house price calculator this house would now be worth 200k..... I am tempted to post a letter through the door asking the current owners if they got discount etc and also using this price as some ammo for negotiating the price of a new build.

    Does anyone know if these kind of calculators are anywhere near accurate, I had to put in the region if the uk so I know they won't be 100% accurate but the area has had nothing happening here that would of drastically affected prices, there are no similar house styles within a 5 mile radius to compare current values with.

    Thanks
Page 1
    • G_M
    • By G_M 14th Mar 17, 11:08 PM
    • 44,068 Posts
    • 52,207 Thanks
    G_M
    • #2
    • 14th Mar 17, 11:08 PM
    • #2
    • 14th Mar 17, 11:08 PM
    Of course they are not accurate.

    And a property is worth what someone will pay for it. If the developer believes he can get 244K for the property, and a buyer comes along and pays that, then that is the market value........

    If you are not willing or able to pay 244, then offer 240. If the developer agrees, that is the current market value.
    • eddddy
    • By eddddy 14th Mar 17, 11:38 PM
    • 6,320 Posts
    • 6,178 Thanks
    eddddy
    • #3
    • 14th Mar 17, 11:38 PM
    • #3
    • 14th Mar 17, 11:38 PM
    ... and also using this price as some ammo for negotiating the price of a new build.
    Originally posted by dannyjebb
    Just to give a different perspective on this...

    When potential buyers try to "educate" me with all sorts of reasons why I should accept their low offer, and why the asking price is too high etc - I tend to lose interest quite quickly.


    Also, if it's a new build you will probably be talking to a salesperson - I suspect they will not be too interested in your calculations. They will have no control over asking price etc. They will just pass your offer up the chain to a decision maker.


    It's probably better to just make your offer and demonstrate that you are proceedable buyer who can work to their timescales.
    • hazyjo
    • By hazyjo 14th Mar 17, 11:56 PM
    • 10,514 Posts
    • 13,681 Thanks
    hazyjo
    • #4
    • 14th Mar 17, 11:56 PM
    • #4
    • 14th Mar 17, 11:56 PM
    Those 'calculators' undervalue mine by 100k-ish, and the house I want to buy by even more. IGNORE THEM.

    Jx
    2018 wins: Single Malt Whisky; theatre tickets; festival tickets; year of gin(!); shoes
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