Overpriced

[SevenDegreesSouth]

We finalised a house in Eden park (Beckenham ) . It is a 2bed terraced house and looks quite all right but we are not in love with the property . Being first time buyers we were not too sure what to pay and it was our first time in eden park as well . This is the property www.rightmove.co.uk/property-for-sale/property-74972777.html . Do you think 450k is too much ? And how is Eden park ?

I think a house for over £500/ft2 is too much for anything outside zone 3 tbh. There arent many comparable 2 beds around though but I would say 400k is a more reasonable price

My immediate thought would be are there service charges? Less usual for a house but if it's in a gated development sounds like there would be upkeep costs involved?

Also sounds like you are jumping in without really knowing what or where you are buying......

The last 2 bed sold in 2014 for £315k. That's a 30% increase in value in 5 years if you pay £450k. Have property prices risen by that much locally? If you're not sure, go and look at other houses in the area and see what you think in comparison. I'd be very surprised if there weren't service charges to pay monthly too.

Thanks for your response . It does include service charge which is about £100 per month.

Thanks for the tips everyone . Our agent was a bit pushy so we made an offer quickly . We probably need to take some time to think about it and do our checks to ensure we are not overpaying .

Unless I specifically wanted to live on a gated development a service charge on a house would completely put me off especially as other posters who know know area better have suggested it's maybe overpriced.

I wonder if the reason the estate agent is so pushy is because they have had no other interest.........

So have you completed or just put in an offer? How many other houses have you looked at? How did they seem value-wise compared to this one? And are you sure you want a house with service charges?

Eden Park is a nice area with a local station and excellent local schools (Langley boys and girls for secondary which are both very highly sought after). It does seem like a lot but houses round there really are £££