How much would you offer? Pics Included

[Honeybee8409]

In reaction to a recent thread about price of semi-detached properties I am curious what people would offer for this property?

www.rightmove.co.uk/properties/85646043#/?channel=RES_BUY

I know its Winchester but looking for honest opinions

@Honeybee8409
Have you viewed it? States photos are from 2019, so in three years there could be a multitude of issues. The front looks damp.
£377,00 in 2016 is around £490,000 now.

I would offer 510-530. There's a reason it's not sold and that's the price.

@middleofthelittle

It was sold for over asking but chain collapsed just recently probably due to current crisis.

Winchester is expensive and I have now watched the market for 18months. Basically if you do not have a budget of 700-800k plus probably closer to 1 million there will be compromises. Such as garden size or proximity to the centre. Parking is also an issue closer to the centre anyway.

Regarding new development actually if you look at development in the local area it consists of a large 2000 home estate not too far away with homes starting ar around 600-700 in terms of similar space. This is what the local parish council are using to oppose the building of any more large estates.

It probably will be a nature reserve/science park/residential home with one of the smaller builders building a small development. The smaller developments in Winchester all start at 1 million plus with smallish gardens so this house is unlikely yo compete with such houses which are also not really accessible to most people due to the price.

Yes I have viewed it and budget for roof and will get a independent property surveyor in specifically for damp.

Depends on how much money you are going to spend on it. It looks well done up but is there a lot of decorating you need to do? Would you convert the garage? Where I am it would probably be a little cheaper but not by much. I think it's worth 500k-550k.

Its screaming damp at me. The courtyard has green algae which can be cleaned but there's no airflow due to the higher fence and how small it is. If an outside area is damp it will eventually effect the outside walls of house, enough to make it feel colder, which requires more heating. Its liveable but it will be expensive to run imo

I would get level 3 RICS survey with costs. They will tell you how much each thing will cost to be repaired. Will cost £1500. Use the survey to evidence your offer, I would not pay it's listed price. House prices went crazy in last 18 months but that isn't the case now. The sellers will know this but are still trying to charge crazy covid rates. Don't get stuck in negative equity with a loads of problems to fix.

So I offered around 560 but apparently seller wants to hold out for asking price.

Well I would leave the offer on the table and keep looking. That was a good offer.

Agreed @BringMeTea

Don't let them pressure you into a insane price in this market OP

We’ve been looking in this area recently and actually I don’t think it’s a bad price for what you’re getting. There isn’t a lot in this price bracket and it’s a nice area.

Pressed send too soon - Hopefully they decide to accept your offer!

I think it looks lovely & I did once look at houses in Winchester and my goodness expensive. If you like that area I would offer top of what you are prepared to pay. Re "rubbish garden " My Ds has never had a house with a lawn - if there is enough space to sit out or for him to do his little plastic car thing - we were fine. I think with a little bit of paint the outside would look great ( so just my opinion - bit of farrow and ball on the garage doors and front door ) rather than white. I think not to be underestimated how expensive houses are in that area. Offer what you can afford if you want the house.

"It sold for £200k less 6 years ago"

Base rate was 0.25% six years ago, so it is worth a lot less now.

Thanks for the further input
@DeadHouseBounce please could you elaborate on this

"£377,00 in 2016 is around £490,000 now."

LOL, no it isn`t, with rising mortgage rates it is less than 300k.

Which part?

If they see this thread op and put two and two together I'd say you've blown it!

Why would OP have blown it? If they had an asking price offer they wouldn’t be holding out. Seems an odd thing to say.

@Honeybee8409 that seemed a good, sensible offer OP, surprised it was turned down, did they not say the amount that they would accept? If you really want the house, could you offer a little more as best & final. Good luck, if it’s the house you want I hope you get it. If you don’t something else will come along.

We offered over asking on a property we really wanted to buy, to be turned down, it’s still on the market now (over a year) and the owner has put the price up by another £15k, madness, but it did us a favour, we bought another property that was a much better fit for our circumstances.

Our friends are having radiators put back into their downstairs open plan area because they can't afford the to use the underfloor heating. Their room is West facing. That one is north facing and full of glass. It will cost a fortune for it to not be freezing.

I agree about the cost of heating - first thing I thought when I saw it was, "don't buy". It will cost an absolute bomb in the winter.

You won't be able to dry clothes easily outside except on very hot days as the tiny garden will be always in shade, so you'll either rely on tumble dryer ( = expensive) or drying racks ( no space for them).

North facing is pleasant in summer when you it's above 28 degrees though (as it frequently is). Our house is a beautiful sanctuary. But nothing would induce me to cut a hole in the wall and line it with glass.... brrrrr.