AIBU to offer this for ex council house

[Honeycombskl]

I'm pregnant and me and DP are desperately trying to buy a house big enough for us and baby and his 2 kids. The problem is that we live in a beautiful part of Scotland where property is currently flying off the market, being bought by people moving here after the pandemic who can afford to put on crazy offers over the house valuation. We have a good deposit saved but have been struggling to get a look in and can't afford to put in much over the asking price.

A place came up which I went to view straight away. The house is lovely, done up beautifully, has a fantastic garden and backs onto a lovely forest area. Bedrooms are a bit small but it has the number we need so great. My main concern is it's an ex-council house and although most of the homes in the area have now been bought, they definitely look like council houses (in terms of style outside, etc).
I've put in an offer, which is £7000 over the valuation and I'm waiting to hear back from the seller. I'm now questioning myself though if this is a financially stupid move. The house has been done up to a high standard so was valued at far more than the neighbouring houses, I'm just worried about losing money if we come to sell further down the line.

On the other hand it would be a great family home for us and I can totally see us eating in the kitchen or playing outside in the huge garden and forest.

YABU- you're daft and going to lose money if the buyer accepts
YANBU- property prices are going up just now anyway, just focus on how it will be as a home and not what it might sell for in a few years time.

That's just over 5% on top of valuation I think that's perfectly sensible. You say what others sold for but how recently was that? Covid seems to have led to an upturn here.

If the general area looks nice, no mattresses dumped in front gardens, etc. and things generally look well cared for, it wouldn’t bother me.

A dd bought a 3 bed ex council house in a nice road, very well built, nice garden, and a lot more spacious than your average new build. She’s in an expensive area where her budget for non ex council would only have stretched to a 2 bed flat.

Others have sold last year. There is currently a 2 bedroom on around the corner that is smaller all round (smaller kitchen, living room, garden, bathroom) and it's on for offers over £105000

Would I be daft to share the link to the property on here to see what your thoughts are?

At that price I wouldn’t put a link 😂😂

At that price I wouldn’t put a link 😂😂

Because it will be bought by someone else or slagged?

Don't put a link unless you want someone else to buy it

I live in Scotland. What sort of area are you looking in ? Houses around here in west coast of Ayrshire are flying off the shelves all going to closing date within a matter of days. If it’s the right house for you go for it.

You say properties in your area are going well over the asking price, so whatever house you buy, you will more than likely be paying over the odds, so it really isn't an issue

My old flat was ex-council and it was bloody wonderful - well proportioned, well built, good storage. With the bonus that they’re usually cheaper than equivalent non-ex-c. I’m now cursed to live forever in a Victorian conservation area .

£7k over the asking price is nothing. If houses are selling that fast you might find it goes way over your 7000.

Because someone else might see it and think fucking bargain 😂😂 and buy it

When you think that in parts of the uk you can’t even buy a 1 bed flat for that price I would keep it to yourself

I wish I lived in an ex council house. They are good solid houses!

Did you provide a note to the passed to the buyer explaining your circumstances. Its one of those that would either be discarded unread or read by a seller with empathy. I done it with mine and my offer was accepted.

Where we are in the SW the cx council houses especially those on the edge of a village are in great plots with good sized rooms.

A friend bought a council house. They half cladded the outside in natural wood and painted exterior walls sky blue. It looked incredible. Very scandi.

Our first home was ex council. The only "problem" we had was when we wanted to move up the ladder, privately built four bedroom detached houses at well over twice the price, were often smaller and certainly less well built than our 3 bed terrace. It made finding our next home really difficult (but I don't really think the ex council house could be blamed for that).

My dsis is currently trying to buy in Scotland. She's looking at houses with a Home Report value of about £140k. All houses are going to closed bids. And going for 10-20% over Home Report value.

Check the Scotsnet topic here. Lots of talk about the crazy prices.

How long has the house been on sale for? Most houses on the outskirts of Edinburgh seem to be selling within weeks or less.

Did you check if the house is non standard construction? Could have an issue with some mortgage lenders if it is.

Where in Scotland op? Just about to sell my father's ex council, 3 bedroom, off road parking, large gardens, inside been repainted top to bottom. Someone heard about it and asked if we would do a private sale, which saves all the estate agent hassle but maybe we are underselling? Thinking of aski g 120k but still awaiting valuation.

Buying at a time when prices are rising fast is risky, but you need a home and there is no guarantee that the current madness will end soon. Maybe try and put it into perspective. How many months rent would 7k cover? What else could you realistically afford?

We privately rent an ex council house and it's so well built and bigger than a lot of the thrown up new builds these days so don't let it being an ex council house put you off.
If your planning on staying out for a while I highly doubt in years to come it isn't going to have gone up in value

I saw a lovely 3-bed home advertised here in Edinburgh the other day. It had been beautifully renovated, but had obviously been a council house in years gone by. It was on for nearly half a million pounds. Ok, the Edinburgh market is crazy very different, but my point is that you won't lose money in a good enough area ... regardless of the house type.

Our first house in 2015 was ex council. Paid £210k. Sold it after doing a bit (but not a lot) of work in 2017 for £260k. It was an ex rental and white. We made it homely and tidied it up. The rooms were massive too, 16 x 12 foot living room, 16 x 9 foot kitchen etc.

I love our ex council house. Well built, with family life in mind so modest, but equally sized bedrooms, a huge garden front and back and a good solid feeling with no neighbour noise. Go for it. It’ll suit you very well

The high standard will be ruined by children! Just saying because they break stuff, spill stuff, etc.

My first house was ex council and like people said they are usually solid with decent sized rooms and gardens, unlike the new builds.

It made enough for us to move up the property ladder, a few years later.

But, I would look at the schools, transport links etc so the children can be independent when old enough and you aren’t permanent driving for them.

To put £7k into perspective - rent of £500 pcm is £6k a year......