Higher offer or wait for post school holidays..?

[FlossieTreadlight]

Our house is under offer and we're looking for a 3 bed we can extend or a 4 bed which has the living space we need. Similar location to where we live now.

We've had an offer rejected today on a house we've seen - its not in great condition but has an amazing garden and potential to be a family home after the work is done. Our offer was £30k below asking due to work that needs to be done, regardless of any further improvements. Do we go up by £10k more (I think this is the min it would need to be accepted) or walk away and hold off and hope The One appears...

It depends on loads of factors- not least of which-

What percentage is a £30k reduction?

How much do you want the house?

What availablity there is where you are looking?

How desperate are the sellers?

Thanks for responding - some really helpful questions. As it turns out, out of our hands as someone has offered rather a large amount for the house and effectively ruled us out... Onwards