Frustrated by house search

[bathsh3ba]

I just need a mini rant!

We were very lucky and accepted an offer on our first viewing from a cash buyer.

Finding a house to move to is proving much harder! In our area houses seem to come in bands, we are looking for something around 475k. Can't go above 485k max. There are a bunch of houses on at like 400k-440k but they don't meet our minimum requirements which are not onerous but non-negotiable (3 double bedrooms, not needing major work, safe area, good bus route).

We've offered on a house on at 500k but I expect our offer of 485k will be turned down even though I think it's a good offer.

And between like 440 and 600k there are about 2 houses ... it's literally crickets.

I'm wondering if everyone is being unrealistic about prices or what. I didn't think it would be this hard to find somewhere we liked!

There is a supply issue which is why you have this problem. Unless we get to the point of repossessions I can’t see this improving. People are stuck.

It's a tough price range you are looking in with lots of demand at that figure. You need to increase the amount you can borrow ideally to increase the chances of finding somewhere you like. House prices have gone up a lot the last couple of years and won't come down imo.

i don’t think you should assume your offer will be turned down, 485k on 500k isn’t much off. We had 405k accepted on a house up for 450k recently.

I’d accept that offer so don’t assume you will be turned down.

with house buying you’re wanting a house that others are stepping up from to something bigger/more expensive but with things how they are, many are staying put and extending instead.

We're finding it difficult too except with a smaller budget. Our house sold quickly and we can't find anywhere to buy. Put a -10% on a house in an ideal location but needs a lot of work. Vendor rejected offer as they only want full asking price. We're about to put an offer on a second house that has been on the market for months with no price reduction so I'm assuming that will be rejected too.

Unfortunately we can't afford any more than £485k. We are moving from rural to a suburb of a city so we know we are downsizing but I have teen daughters doing exams so I can't put them in a box room. We are up against the clock too as we really have to move by September as the school bus service is stopping and getting them to school would become very difficult.

We accepted a 95% offer so I really hope this seller accepts our offer but she has implied she thinks she has under-priced it.