House shortages and greedy sellers

[AprilMae]

Just a rant about the current market really, I feel so disheartened. We’ve just offered £325k on a 3 bed terrace house in the North West and been rejected. Seller says they want £340k as there’s ‘so few homes available’.

So they’re admitting it’s overpriced but the scarcity means they think they can ask it? I’m not even sure a lender would agree to that valuation.

Sold our 2 bed as we need more space but there are very few 3 beds coming on the market, we’re looking in a 15mile radius. I’m really annoyed to have worked hard and scrimped only to be priced out of buying a quote ordinary family home in an inexpensive part of the country.

The truth really hurts, doesn’t it?

“Because you consider yourself a cut above people just like you, and you think that you need to show it by living somewhere you can boast about. But you can’t afford it, can you?”

@Iamthewombat quite possibly the unkindest post on the thread. Just so mean an unnecessary.

Mean but necessary.

I agree @Iamthewombat has been close to the bone but I sort of agree with some of their posts. It’s all very well saying you don’t want to live in X place I want to live in Y when you can’t afford a house there. The market it crazy and it’s hard but you may need to have a serious review of what you can afford and consider other areas.

I’ve reported you.

Haven’t RTFT but I am just so devastated about our housing situation now.

We are going to have to buy a house a good bit smaller than what we wanted/need because the prices have gone up so much and it just feels so unfair. I can feel myself sinking into a real downer about it.

So what should be our forever home will be nothing like it should have been 😔

@Guttedbuyer so sorry for your situation, you’re not alone. It’s hard not to feel despondent looking around houses that cost so much less a couple of years ago. Lots of us are in the same position it seems. We were really proud to save enough for a house over 300k but we still can’t raise out baby in the area we want. You work work work and save the money then when you think you’ve done enough the price of houses jumps up a ridiculous amount.

@Guttedbuyer it hard when you actually need the space too. Wfh means we absolutely need work spaces but I don’t know how we will manage it

Be glad you’re not at the mercy of the Irish housing market.

A house I viewed 18 months ago for €500k that sold at €525k and is now for sale by the new owners for €850k.

No renovation or anything.

1,800sq feet with three pokey bedrooms in the middle of nowhere. Pretty house with lovely gardens, but €325k jump in expectations is pretty unreal.

But that’s the way of the world I’m afraid. You took advantage of an affordable homes scheme to get in the ladder but are then restricted in profits, but others saved in the first place and therefore can reap the benefits.
300k isn’t really that much for a house in the national picture, you happen to live in a cheap area but are still moaning. People in more expensive areas have to save a hell of a lot more or widen their search considerable above your 15 miles to get what they want. Are they less deserving than you?

And also, wfh is not forced upon you. I am sure you could go into the office to work so you don’t ‘need’ the extra space, you want it as a luxury

I understand being annoyed. But it is what it is and whinging won't change it. The only winners are the people at the top of the chain and the down sizers.

@Whadda that is WILD!!

How did the viewings go OP?

First smart comment I've read in this entire thread

Bit of a generalisation based on one house price! Not the whole of Ireland. Selling up in Donegal and I'm selling at a loss on what we bought for 18 months ago. And that's without mica (AFAIK). And 1800 square feet is massive.

Wait, I understand. No, I'm wrong, house prices DOUBLED here OVERNIGHT (hint hint, Londoners/Dubliners come buy my "tiny" four bed detached house for loads more than locals would pay).
It's only 20 mins to the nearest beach!
It even has off-street parking and central heating!

Look at chain free probate / care home sales. We’ve just lost out today, yet again, to chain free buyers despite being the highest offer (and having more money left to go higher if needed). All of the ones being sold by relatives of elderly or deceased are more interested by selling positions than money.

We’ve decided to go in to rental to do the same, as this market is killing my mental health trying to buy with a chain behind us! As long as we’re not out too long it’ll make things one hell of a lot easier!

Easy @Iamthewombat ! You're calling out 99% of MN and most people in England 😂Half of the threads on MN are a people checking and re-checking every few months if they're considered middle class