To ask what you would offer on a house?

[PurpleFlower1983]

Hi everyone, we’ve had some unexpected inheritance and have been round the houses (literally) with how to spend it. We considered buying abroad and staying in our current home which I love but is too small downstairs really now we have our DD.

We have seen an amazing period property, it’s on at £420k (Yorkshire). We viewed it yesterday and it is stunning, 12ft high ceilings, original features, gorgeous. There are compromises though, only 2 bedrooms on the first floor, 2 more in the attic and they’re not ideal, quite small space in terms of full head height and a spiral staircase to access. The boiler works but is coming up to 20 years old. There are damp patches in the corners of the upstairs rooms, probably to be expected at this age of house but needs investigating as it has damaged the cornicing in places. Also the original land has been cut up and sold meaning the garden is quite small for what you would expect at this price/property and the drive at the back has to have right of access for the two flats next door. It has been on the market for a year, we are hoping to keep our current property to rent out so this will mean we will be pulling out all the stops financially to get it as the mortgage will only be in my name. Plus there will be over 20k of stamp duty to factor in.

What do you think would be a good opening offer? The seller said he had had a couple of offers but the estate agent didn’t mention them. She said he was open to offers and ready to sell.

The house that we bought last year was on for a year before we bought it. It hadn't been decorated since the 70s so people weren't willing to do the work. We offered a few thousand below asking and it was accepted on the same day. Price had been slashed by at least 50k from original listing though by then. We also got it for less than average price on the street.

We still have the garden and drive to sort and it will cost us more that we thought it would realistically but we are fine with this.

I think the length of time on the market gives you an advantage in terms of offering. You can start low and negotiate.

There are are few things in your OP that are concerning though. Spiral staircase and attic rooms with small children would be off putting. Damp issues too in old houses may also be expensive. A survey would be important before proceeding I would suggest. You could find out from the EA if previous surveys had been carried out and if they are willing to share the reports as that my save you money. Good luck

@Ireolu Thank you so much for your helpful post.

Aside from the fact that the shared access would be a deal breaker for me, I wouldn’t offer more than £400k on this house in a kind of ‘it’s a standing offer’ way. Keep looking. If they can’t sell (which at 450 and 12 months down the line they can’t) they’ll come back to you. But I wouldn’t buy a house sharing anything more than a boundary.

@YouDirtyMare 3 bathrooms, one top floor, one family, one en suite and then a downstairs loo.

This is the house.

If it's so great why has it been on the market for a year? There has to be a reason. Either it is over priced or the damp is more serious than you might think.

My home is over 200 years old and isn't damp. We sorted that out on renovation 15 years ago.

This one?

Carleton Road, Pontefract, West Yorkshire, WF8
www.rightmove.co.uk/property-for-sale/property-82396763.html

That’s the one, sorry got the price wrong! We looked at another at £420k.

Meant to add why do you need to replace the boiler? Mine was put in during the 1970s and is so much better than the modern one we put in the annexe. Guess which one gets the repair man out at least once a year? - Yes the fancy new one! It's just needed £100 of repair work as the water heating part failed last week.

OP in answer to your question I'd offer 380k to start with and say the offer reflects the potential work that will need doing. You won't know if you don't start somewhere! To the doubters I'd say location, location, location but honestly would think hard about buying opposite a school due to the continuous parking issues. That would drive me nuts! Are there any other properties for sale in this village that might better meet your needs but still give you all the advantages ?

@reckessgran

It’s not exactly opposite, it’s opposite a green space but just a little down the road on the opposite side.

that is lovely . As it is part of the other building do you thing the damp could be caused by the adjoining roof?

Is there anyway the staircase could be changed ?

If you are chain free then I think I would go in with a cheeky offer of £395

make sure you leave enough money to do the things that would make it perfect .

For comparison there’s things like this at that price point

Cowick Road, Snaith
www.rightmove.co.uk/property-for-sale/property-77423359.html

Needs work but the land is yours Not shared access, bedrooms are all on one level.

@SusieOwl4 The damp is to the left of the property above the en-suite where the roof is almost flat. There is probably a recess or something that needs addressing.

The spiral staircase is massively off-putting. It makes the entire top floor almost unusable. The previous poster who said it was an over priced 2 bed is spot on.

I love it and would buy it in a heartbeat OP.
The only thing I would make sure of is that I know where the damp comes from. The boiler wouldn't faze me.

@MynameisJune We looked at that one! It’s stunning and had it been local we would have probably thought seriously about it! It’s a lovely village but my parents are getting on and not too well so want to be a bit closer to home. It needs lots of work though! More than what it looks like in the photos.

Well I think it’s gorgeous OP! Go with your heart. Put in a lower offer with a letter attached outlining how much you love it, especially the period features, restoration etc. but also detailing the boiler, damp etc and explaining that’s why your offer is below asking.

@Ickabog I get what you’re saying. The seller said another interested party were pricing up putting a proper staircase in.

Would also explain that you are in a very good position to move quickly, no chain etc etc.

Have you looked at the local area? It looks like the village is a deprived estate.
Looking at Carleton on here

vis.oobrien.com/booth/#

OMG, the house is stunning, I can see why you are tempted!!!!!!

It's a nice house and I can see why you are tempted. Only you can decide what you are willing to pay for it really. Just ensure there is enough left in the kitty for repairs. (Budget wise only advice I can put forward from our experience is to make allowances for up to 10% above your initial estimates for wriggle room as things always crop up).

@GreyishDays There is a deprived estate not far but the actual village is very nice and sought after.

I would snap that up in a heartbeat, now I'm wondering why its so cheap.................