How low to sensibly go?

[purplerain7]

Wanting to know what would be a reasonable offer on a house for sale at £152k. The house is nice but not worth the price imo. Was up for sale last year at just under £160k and didn’t sell and has come back up for sale in September with reduced price, no one has made any offers yet. I am in North East for reference. It’s a 3 bed semi and a detached house in the same street which was evidently nicer sold last year for £152 and also a 3 bed semi with an en-suite in the same street sold last year for £148. Ones sold previous to last year were a lot cheaper and zopla says the current average value is £139,556k. Originally my budget was 140k but I am willing to slightly above that for the right house. Can anyone advise how low to offer without being laughed at? Would be good to get personal opinions from people, how low did you offer? I don’t want to annoy anyone as I do like the house but only if the price was lower. TIA

Anybody out there

It's only worth as much as someone is willing to pay!

Is the only difference between them an ensuite? I would go in slightly under your budget (138k, 10% lower than asking) with a (private!) view to go up to 145k after negotiation. Adding an ensuite wouldn't cost a huge amount so they might argue that, but if the market is slow and they're eager to sell they might go lower.

Based on what you've said about other houses in the same area I'd offer £129,000 and presuming that this is rejected I'd meet them @£134,000. If they've been trying to sell for over a year you might be lucky. Do you know if the've had other offers ?

You can look at Getagent website for the area and you can see the average percentage of asking price that local houses are selling for. In my area it tends to be around 95%. This will help guide your offer.
Unless the house is in poor condition or been on for a long time, most people would be insulted with an offer 10% or more lower than asking price.

If you really like the house (and would be sad to lose it) I'd offer whatever your maximum is and say you are not trying to insult them, you just cant stretch any further and see what they say.

You cant always go by what other houses have sold by, you dont know what the buyers / sellers situations are, some people over pay for the 'right' house and some people sell there houses cheaper to guarantee a quick sale.

The EA said there hasn't been any other offers since it went back up around 6 weeks. I really don't think they are being realistic with the prices they've had it up for sale as it's a new estate so all other house prices are fairly recent (within the last few years) and very few/next no none have been sold for this price. I do really like the house although a couple of little issues, it would be ideal, but not for 152k