So, we’ve seen a house which has the potential to become our dream home. Needs about (we think, though will get an architect to confirm if we have an offer accepted) 300k of extension/renovation to it. We’d have to move in with our (by the time it went through) just 2 year old, and I’d be due a baby in about 6 weeks after that, for about a year/year and a half whilst we got plans passed/contractors on board. We’d then move out and rent whilst work being done.
It’s habitable but not that nice to live in for 1-1.5 years (our current house is lovely but has lots of limitations meaning we’d never make our money back if we extended) and small.
It’s an inheritance property so we’ve been told they will be advised to market it a while before accepting offers. But we’ve been told by agent there is already a “good offer” on it. It only went live to market yesterday though we and a few others have seen it before it went live.
It’s on at 765k and has 1 acre of land. Other land is available too though we’re not sure about that - 1 field for 35k and another field but they don’t have instructions on that yet.
No idea what this “good offer” is but don’t know where to start. Loathe to offer full asking because one should never do that but I would if it meant they’d take it off market. But given its inheritance I don’t think they would and then don’t want to push the price up any more as it then starts to get beyond our reach if extension is going to be as expensive as it is.
So what would you offer? Or would you wait for it to be on market for a while and offer later?
Further context: if we don’t secure this/another property (we’ve seen loads but nothing else we really like) in next 4 weeks we are pulling ours from market (we’ve got ours under offer but been very open with buyers that we may not move so have said to them don’t spend anything on surveys/lawyers etc until we can confirm we can proceed) and would then wait until next year to move as we don’t want to be moving any closer to due date