First time buyer - what should we offer?!

[BifsWif]

We’ve got a second viewing on a property tomorrow.

It’s in the area we want to live, detached, three double bedrooms and a conservatory.

It’s been rented out for three years, and there’s a lot of cosmetic work to do. One room has been freshly skimmed, all other rooms have lots of patches of filler. Wallpaper is torn in most rooms, fitted wardrobes removed so skirting and coving has gaps, kitchen needs replacing as two of the cabinets are broken...so yeah, cosmetic but there’s a fair bit to do.

It’s been on for just over two months, priced at £195,000 which to be fair is a good price for the house due to size and location and it’s within our budget.

Should we make an offer or pay full asking? If so, where would we start negotiations? I’m new to all of this and don’t have a clue.

How long has it been on the market?
Generally, you would, do an estimated cost for the work and then take it off the price of a house with the work done. Then knock off a thousand for the inconvenience of doing the work.

However if it's a sought after area and you really want it, I'd only go £3k under and they might come back with £2k under. Then I'd pay it.

I'm 51, I've known people to lose houses by getting into bidding wars.

I would offer £185 and be prepared to go up to full asking.

£185k was where I wanted to start too so I’m glad to hear that sounds reasonable.

It’s been on since the beginning of October, no offers. Some interest when it first went on but not much recently according to the agent.

Zoopla tells me the landlord bought it three years ago for £175k

It won't have much interest, people don't go house hunting before Christmas.

Just wrap up the deal by Christmas, if you really want it.

You could go in with a cheeky £180k, I always start much slower than I'm prepared to pay. We have been surprised and had what we felt were cheeky offers accepted straight off, so sometimes it's worth it. And in the 5 homes we've bought over the years we've only paid the asking price on 1, then rest have all been a few k under

Thanks Plug, my husband suggested starting at £180 too!

£183,000

Start at £180 and then you may get it for £185.

Thanks all! £185k was rejected so we’ve gone to £187k and the vendor is considering it so fingers crossed!