In shock about my keenness

[SlippersandTV]

Hiya all.
I'm obsessing about losing money and it's taking over - I think about it all the time.
Bought a house recently and was so love-struck I didn't go in low enough with offer. The rule is 10 percent or more lower first, no??
I offered and paid 6 percent under. But a massive whack of stamp duty on top.
A neighbour has now made a comment about 'ALL the money I've paid for new house' and I haven't slept right since.

FWIW, the house had been on market well over a year, odd layout, very unusual and much more shabby around edges than I thought. Old boiler. Old house. pretty and quaint - I guess you'd call it 'naice'?

I can't stop thinking of the 20,000 odd I could have negotiated off had I been more savvy - and I worry someone when buying will offer me as low as 75,000 less than I paid. I feel sick with it all!
all. that. money. I am not rich, and I spent my savings on this.

Does everybody generally expect 10 percent less than they list the house for? I am shocked that I didn't think more clearly and the loss of that money is haunting me. I will never see those savings again, not even when I sell.
Have I been had here? Or driving myself crazy for no reason? how do I get on and deal?? It's making me so regretful. Maybe someone has been through similar? THanks all

I honestly don’t see the problem. You’ve bought a house you love, you could afford it and you didn’t even pay full asking price. Sounds fantastic to me 🤷‍♀️

I’ve never heard of a ‘rule’. We offered over asking for ours. Then got gazumped. Then out gazumped the gazumpers. So ended up paying quite a bit more than original asking price. But there was quite a bit of interest.

At the end of the day nobody knows what will happen to the market in the future. You have a house you love. You paid less than asking. Oul you have paid even less? Maybe. But at this stage you’ll never know. And there is ZERO point stressing about a potential future sale. It’s now your home. And you will live in it and decorate it and improve it and the market will change. There is no point stressing.

I paid full price for mine and my friends did, too. You have a lovely house. You know you're capable of saving. Just enjoy living there.

You are driving yourself crazy for no reason. There is no blanket 10% rule. It depends on the market and what the house is worth to you.

We moved a few weeks ago. We offered the asking price straight away as we had been looking for ages and this was the first thing that we had both liked in quite a while.

I'm obsessing about losing money and it's taking over - I think about it all the time.

Your level of obsession sounds way above anything healthy. Do other things bother you as much as this?

When are you planning on selling? If you don't know then there's absolutely no point in thinking about what someone else would pay for the house, especially as you're likely to have improved it by then and you can't know what the area or the market will be like.

We had to pay full asking price for our house, but we really wanted it and could afford it, so there you go.

Take off the stamp duty, that's tax, just like VAT on most things you purchase and it can't be helped.

How long's your neighbour been living in their house? they're probably out of touch with how prices have escalated, especially if they've been there quite some time, and they're relating back to what they paid.

Just enjoy your home.

Paid asking price. Didn’t even negotiate. Viewed it and offered that afternoon.

You like your new purchase and paid under. Enjoy it.

How recently did you buy? In my area everything has been going way over asking so 6% under is a bargain.

It is scary putting your life savings into a house, how I justified it to myself was thinking about how much I was saving compared to renting. I also love being able to decorate entirely my own way and upgrading my home bit by bit. I really love my house and resale value doesn't matter to me because I don't want to sell.

I paid asking price (well, they asked for £350-370 & I paid 350). I wanted the house, it worked for us, it didn't feel overpriced nor underpriced compared to other properties we had viewed.
If you'd offered 10% under and they sold it to someone else, how would you have felt?
That's the only real answer.

The rules change depending on the market. 10% below might have meant your offer was declined and someone else's accepted- you don't always get to offer a second time.

We paid over the asking price for our house - it was the only offer we made on it because it was so popular.

I think you need to stop worrying and enjoy your new home. We are about to exchange on a house that we offered 10% over on. We probably could have gotten away with about 7% over. But I haven't made an offer in the past 18 months that was anywhere close to guide price or under (usually 10-12% over and obviously those were all unsuccessful, and we're chain free in rented!), so I definitely don't think it's standard, certainly not at the moment. I think just enjoy your home.

We sold for asking price and we offered asking price . We didn’t even offer 6 % off! Stop fretting, enjoy your house.

No houses have gone for under asking price here for months and months on end. Well over 18 months of people offering well over and houses being snapped up by cash buyers. So no, the 10% rule probably doesn't apply now. As ever, a house is worth what somebody pays for it.

You need to enjoy your new house. Concentrate on what you like about it.

Had your neighbour lived in théir house for 20odd years when they cost a couple of pounds and a mothball? From that perspective today’s prices would be a lot. Forget what they said and enjoy it

FWIW we paid full asking for a house in 2005 and 16years later it’s still pretty much the same value. 😂 😢

I've had two offers rejected this week, and I offered over asking

Just sold my house for 3% over asking. No way would I have considered 10% under. Then bought one for bang on asking. There are no 'rules' - asking prices themselves are somewhat arbitrary, and sellers' circumstances, and therefore what they will accept, are highly variable.

Thanks peeps. This is helping. And yes Notness - this neighbour bought in 2003 for about half the price....

There is no such rule

There’s no such rule don’t be silly. I’ve bought and sold five times and never once sold at ten percent under or bought at that level. My current house We paid full asking. Didn’t even negotiate.

My house was the cheapest on street when bought by previous owners. 15 years later they made a profit of over £100k! I was shocked when I saw that.

We expect to get at least 10% over the asking price in the current market. We've listed at an Offers Over price and we aren't going to sell for less than 7% over as we don't need to move and need a certain figure for it to be viable.

I have ofered under asking price before and been successful but it's supply and demand, right now property is scarce so it is a sellers market in most areas.

*offered!

Absolutely no such rule. I paid asking price for my house because I fell in love with it and had been looking for months. Never regretted my decision

I sold a house for more than the asking price.

several buyers wanted it.

there is no rule.