Viewing houses above budget

[TheUniversalsHere]

Am I daft looking at houses more than 10% over our budget? We've just booked a viewing for somewhere that's been on a while and just reduced slightly to £450k - but DH is adament we won't go beyond £400k. Would love some opinions (before I fall in love with house!)

Give it a go - you never know although I expect they'll be hoping to achieve 425k.

the danger is that you end up busting your budget to afford the one you fall for. We were aiming for under 500k, saw a house that was advertised at £540-580k (ridiculous price range tbh), and ended up breaking budget, getting it for around £530. We basically ended up with a higher mortgage, cashed in an Isa to fund stamp, but I love it and hope to stay here for at least 10 years.
A 450k is always nicer than the 400k! But maybe you can go a bit over and they can come down, I'd still view.

Thanks for the advice both! House hunting driving me doolally!

House selling driving me insane! What area are you looking at?

DH's job has moved to Milton Keynes - we're concentrating on the area just north (around Towcester, Northants) and Buckinghamshire. Really struggle to find something even on our (quite healthy I thought) budget that fits basic criteria (period, parking of any description, 3 beds). Hoping more may come on now summer hols over...

I have a 6 bed detached for sale with double garage in Olney for £435k. Not period though.

How funny. Olney lovely. Will keep everything crossed for you!

Let me know if you need info about schools etc.

Have you thought of asking the agent when you arrange the viewing if there is a chance the vendor might be open to negotiation, and only viewing if they say they would? A lot of houses ARE going for 10% or more off the asking price, but equally there are also a lot of vendors who won't budge, so this way you would avoid wasting anyone else's time or your emotional energy.

I suppose if you are in a position to buy there is no harm.

I'm not sure that buyers are ever up front with estate agents about what they would accept though, because then the estate agents won't try and get them more money iyswim.

I personally didn't look at anything over budget, we were in a similar price bracket to you but by the time we had an offer we couldn't even stretch to 400.

We are waiting to exchange on a beautiful period 4 bed that had reduced from 450 to 425 then to 385 - which is when we saw it. We got it for 370 (providing HSBC stop twatting around and give us the money)

Thanks for all the advice. Good luck bumbez - hopefully that will be us in a few month's time!

It would appear I am attempting to get everyone on MN to move here, but have you considered Leighton Buzzard and surrounding villages?
You would def find something character in a good location for that (and we are v near MK!)
Like this or this, only a 3 bedroom but is gorgeous and Stewkley is lovely: this

We looked at 10% over, assuming that was a standard asking / selling difference. Avoided going above that as houses are more expensive for a reason and there was no point tantalising ourselves with something impossible. When you consider the interest, the impact is greater than first appears, as this is all loan, assuming you've already put everything you can into your deposit.

Did you view the house?