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Property/DIY

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Original poster

What price range to look in?

24 replies

Plentyoffishnets · 09/05/2018 06:49

I'd really appreciate some advice. I am pretty sure that with fees, mortgage and what I believe I can sell my house for that I'd be able to afford a house of £290k . I'm just not sure what price to look at house wise. Anything prices at 290 makes it hardly worth me moving as they are not significantly bigger than my current home or are bigger but not in such a nice area. The houses I do like are on at 315 to 325. quite a lot on as offers in excess of. Do you think I could even consider them? Do you tell the estate agent what you can afford? Not sure if you would lose the poker advantage by doing that?! clueless please help!!!

OP posts:

DragonsAndCakes · 09/05/2018 06:53

What are houses going for, compared to their asking price?

If they are actually going for over, then there’s no point in looking at a house priced as offers over £315k if you only have £290k. Or do you think you can spend more?

Original poster

Plentyoffishnets · 09/05/2018 06:58

I definitely wouldn't be able to pay more than the 290 as would be maxing myself out at that price. Unless my house went for more I suppose but that's hard to know at this stage. The latest house price data I can find is from Feb and the sales prices are all over the price despite the fact I am only looking in a particular town.

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Original poster

Plentyoffishnets · 09/05/2018 06:59

and not too sure how to find out what the asking price was?

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PickAChew · 09/05/2018 07:08

Why are you needing to move? If it's a simple relocation, stick with your safe budget.

Angryosaurus · 09/05/2018 07:10

Why are you moving if you can’t afford anything significantly better? Can you not stay put until you can afford the houses in the next price bracket you like?

Original poster

Plentyoffishnets · 09/05/2018 07:17

I'd just be moving within the same town. My current house is in a nice area but it's a long walk from town and I want the kids to be able to be a bit more independent (now reaching sec school age) the drive to their school can take ages as the traffic is terrible so this would mean they could easily walk to and fro. I'd be looking at going from a 3 bed with an absolutely tiny 3rd bedroom to 3 proper bedrooms and possibly gaining a dining room and maybe garage too. So not a big step up but the slightly more space and better location makes me want to move

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Original poster

Plentyoffishnets · 09/05/2018 07:18

and there's not a lot I can do to my current house - could make 3rd bedroom slightly bigger if reconfigured the upstairs but no chance of garage or dining room

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Original poster

Plentyoffishnets · 09/05/2018 07:20

just to paint a picture - I think I could sell mine for 265 then moving to 290

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Angryosaurus · 09/05/2018 07:21

Does your 290 max budget get you that then?

Original poster

Plentyoffishnets · 09/05/2018 07:23

well there are some at 300 that would be ok but would not move for but one's I really like at 315-325 I know quite often the asking price can be quite a but higher so wondering if I could even consider them?
I know couldn't view or offer until I've sold mine but not sure whether it's worth going through all of that

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Singlenotsingle · 09/05/2018 07:31

Best really to speak to an estate agent and see what they say. You can go and view but not much point until you've got a buyer for yours. People are sometimes prepared to drop their price if they're in a hurry to sell.

DragonsAndCakes · 09/05/2018 07:31

You can’t consider them if you can’t afford them? Is it worth checking how much you can borrow!

Original poster

Plentyoffishnets · 09/05/2018 07:35

the 290 is including the borrowing I am pretty sure I can get. May speak to a mortgage advisor to see if I could get a bit more and an estate agent to see what they think I could potentially get for mine. Just don't want to waste anyone's time or be on the agents radar unnecessarily as theyll be like a dog with a bone!

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wowfudge · 09/05/2018 07:37

You need to have an idea of what you can get for your current house because if you have any equity in it you can use that towards a new one.

MiniCooperLover · 09/05/2018 07:44

Are you hoping that if people put a property in for £315 say they'll probably accept high 290s? That kind of thing? I think that's likely, though not if on for £325, that's a leap too far I think.

Furano · 09/05/2018 07:45

Look at sold prices (actually I’d be looking at 2016 sold prices...) You might as well have a look at 325k houses and put an offer in. If houses have been on for a while or they need a quick sale you could strike lucky.

Original poster

Plentyoffishnets · 09/05/2018 07:54

exactly mini cooper, though probably 290 would be my top rather than high 90s.
furano- do you think the market is at about 2016 level then?

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Angryosaurus · 09/05/2018 07:57

Where abouts are you plenty? Around here prices are continuing to rise, and houses selling very quickly. How long are things on the market for in your area?

ILikeMyChickenFried · 09/05/2018 08:00

If I was selling at OIEO 315 I wouldn't take 290. I don't know where you live but the market's not that bad.

Mosaic123 · 09/05/2018 08:02

First get two or three agents round to value yours. Also think about the selling and buying costs. Estate agents fees for yours, legal fees, moving the contents of your home fees and of course Stamp Duty.

Is your budget still £290k?

AmazingGrace16 · 09/05/2018 08:05

I would definitely get valuations done and speak to a mortgage advisor. It's not wasting time at all as you know you want to move at some point but this will help you know when. Realistically you might need to save like crazy for a year to have some more cash.
We sold for 290 and bought for 320. That price difference got us a garden and more space like a drive etc. We are now extending to make it the house we want as we couldn't afford the jump up to a 4 bed nicely done up house in the area we wanted. Could that be an option?

sausagedogsmakechipolatas · 09/05/2018 08:19

Around here it’s weird at the moment; some properties around £325k have been SSTC a few days after listing, others have been reduced in £5k increments and are now at OIRO £305k three months after going on the market.

AutoFilled · 09/05/2018 08:30

How much you can haggle down depends on how long the houses are listed for in your area. Have a look on rightmove, they have date added/reduced. Also track the houses that are user SSTC in rightmove. They'll appear on sold prices later in the year once it's been through the land registry. You can then compare the list and sold prices. But you could guess what you should offer by looking at sold prices in your area. I found some agents lists high and some on the low side.

Gunpowder · 09/05/2018 09:06

I’d talk to the agents! I made the mistake of not looking at a house because I thought it was out of my price range and I thought there would be no chance they would accept a low offer. It went for a price well within our budget.

Although the estate agent is working for the seller they are working for commission, and 1% (e.g.) of 315 isn’t that different to 1% of 290. They will also know if sellers might take a lower offer because they are buying with wriggle room etc. etc.

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