To offer way over asking price for our ideal family home??

[Denialisagirlsbestfriend]

Hi, we are looking to move house with our 3 young DC. We love our current home but it’s just not big enough and extending isn’t really an option. The market where we live is fast and houses don’t last long in the area we want to live (within walking distance to school and local park etc). There’s not really been many houses that have come up that we’ve felt excited about.

We’ve viewed a house that would be absolutely perfect for us, we’ve put an offer in £5k over asking price but it’s had a lot of interest and it’s likely to go to best and final offers. The house has already been extended etc so it’s unlikely we can add much value to it, but it could be the perfect home for our family for the next 20+ years.

My question is, would we be crazy to offer £15-20k over the asking price as our best offer? Knowing that we won’t be able to add much value to the property?

YABU - you could loose money in the long run and it’s not worth it. Look for somewhere within driving distance to school.

YANBU - if it’s perfect for you then go for it!

Agreed, if you've not got an offer yet, you'd be bottom of the list for most people as your offer is abstract. Then if the person who offers on your house is in a chain, that's way less appealing than someone proceedable and chain-free or in a shorter chain. Just because they're not in a hurry to move doesn't mean they'll see the aggro of a long chain as a bonus. It never is and is almost always extra stress. So you can give this your best shot and might get lucky, but chances are you'll be better off getting your house under off and then finding a place.

A house is worth what anyone is willing to pay for it, so yes, absolutely right to maximise your chances by putting in an offer way above the asking price, as long as you can afford it.

Thanks everyone. Lots of excellent points, I think we just need to see what happens with ours then go from there. Hopefully they take a while reviewing the offers they’ve received to give us time to get an offer on ours. I forgot how stressful it is selling a house, especially now we need to consider school catchment areas etc

My Dad gave me great advice. If it sold to someone else and you saw how much they purchased it for, at which price would you kick yourself for not going to and which price would you be okay with not having gone to