To lowball homeseller?

[suffolkgeorgiantownhouse]

https://www.rightmove.co.uk/properties/170771690#/?channel=RESBUY

Hear me out.

This is truthfully a 1 bed flat, by the way, but is advertised as 2 because technically the kitchen could double up as a sitting room, but a very small one.

Seller listed flat 1 year ago in Sept 2022. Home has had zero offers in that time and a 25k reduction. Originally listed for 375 when the downstairs flat, which has 3 beds, sold for 378k recently.

The flat has no central heating.

The seller paid 300k for the flat in 2022 when there was an inflated huge post-covid rise in home values.

Am I being unreasonable to offer 275? I think she massively overpaid. It's always devastating to overpay on a property and lose it upon selling, I really feel for her. I unfortunately lost 15k selling my first home so I know how this feels.

Average 1 bed flat in Bury St Edmunds is about 160k and the avg 2 bed is 180k.

Additional question: is a flat like this suitable to raise a child in down the line? It's 95sqm. No I don't care there's no garden. I don't want to spend time maintaining something I will use for maybe 20 days out the year.

EDIT: I know this seems a strange purchase but I am a strange person and so it does fit me, my needs and tickles me in the right places. I have very specific period feature desires that this ticks all the boxes of. But I'm not prepared to overpay just because the owner did.

The central heating would put me off & prams etc with stairs are annoying.

I think YABU because this is not just a one bedroom flat. It is slap bang in the middle of Bury with a view of the cathedral and an incredible bathroom - it’s very specious for a flat and it is a bit special do the typical one bed flat price does not really apply imo

Also you views on gardens are odd - children just put a coat on and go outside!

It’s very spacious for a 1 bed though I do agree it is a 1 bed. I don’t see how it will work when the baby becomes a toddler as where will they sleep?

It’s a fabulous property for a single person or couple.

I doubt they would accept under 300k but you can offer whatever you want.

With all due respect I think you're bonkers. You could buy a nice two/three bed house for the same amount with a garden where you can let "potential" junior play out safely.

It's a grade II listed property so you may not even get permission for central heating although electric panel heaters are OK. Added to which, as part owner of the freehold you're responsible for upkeep so being Grade II listed you can an an extra zero on to every cost.

Also, nowhere in the advert does it say "vacant possession" you need to seriously see what terms the tenant is on.

It's a nice flat but it is a one bed flat whichever way you tart it up and I would be seriously thinking twice.

Just imagine how much it will cost you to heat 95sqm of a property with no central heating! It will be cold and damp all the time.
As for the price- you have lost money once with your first property and heading the same way with this. Period features or not!

You can offer anything you like and have no need to feel guilty. However, I wouldn't buy this flat if I wanted a baby soon. You would better off buying a small house with a garden. Newborns may not run around but they become toddlers soon!

It’s fabulous but not practical. That’s the kind of flat I’d buy on my own when I’m retired. It’s the size of my 3 bed house in sq footage which is huge but it needs more rooms really. Also stairs and babies are annoying - it can be done (as can no parking, I did it with 2 babies for 5 years but it was a hassle) but there will be better places for you out there.

There’s a sitting tenant?
Is that not why it hasn’t sold?
Not sure how these things work, but pretty sure you can’t just evict people so you can move in yourself?

It’s gorgeous.
Make your offer and see what happens. We’ve had some surprising offers accepted before.
good luck