Buy now or wait?

[Tootootoot]

Our house is under offer and we're moving into stable rental accommodation. We had decided to wait things out during this period of market turbulence but went on two viewings just to see. Now we've fallen in love with a house. It isn't perfect but thinking with our hearts it feels like "home" to both of us in terms of the house itself and the neighbourhood.

It's a terraced house in South London and it's on for £600k. Please tell me your opinion- should we:

a). Offer full asking price and hopefully secure it. We could afford it but it means I won't be retiring early as planned.

b). Make a cheeky offer just in case - say £550k (unlikely this will be accepted as it's just come on the market).

c). Think with our heads and wait it out. Many more houses will come on the market this time next year, we'll find one we like just as much, and prices will be lower.

Of course, this could all be moot as our own sale could fall through, but assuming it d9esnt, what would you do?

Where in SE London? I kmow in some areas (like ours) the market is currently fast moving and buoyant.

Go on zoopla are search South London, then sort by most reduced

I expect you’ll get more for less by late summer

It's crystal palace...in fact I'll be brave and post a link- it's this one https://www.rightmove.co.uk/properties/136409990

Isn't it lovely 😍...please don't one of you lot buy it before we can make up our minds!

Or if there's anything not lovely about it please talk me out of it?!

It's super cute! Offer £585 and cross your fingers?

If it’s your long term home 5yrs+ I’d offer 5% under and go for it.

That's not bad for there (I live 10 mins away). Anything well priced is going at asking price or very close within a few weeks. Anything overpriced (read: a lot of stuff) is taking a while. (Have just sold)

Aww a real heart purchase, looks a beautiful property, such a difficult call. dS1 has decided to wait till’24 to see how the market & interest rates adjust. Who knows, if it’s the property you love and it’s a long term purchase go for it. Good luck OP, such an exciting time.

When I say close to asking, I mean within 5%.

It's lovely, I always fancied living in Gipsy Hill, just because of the name. 🙂

But - a no from me simply because of the downstairs bathroom ☹

Wait till next year or if you're set on it, make a cheeky offer. They can only say no.

I'd buy that!

Go for it - it's gorgeous!

Don't you dare @itendswithus 😅

The downstairs bathroom concerns me also as we want it to be our forever home. But it could get to the point one day when my tiny bladder plus all those stairs creates a problem.

What's the neighbourhood like please, @Mummaluma ? We've been staying in a hotel nearby while househunting and really like it but is there anything not immediately apparent we should be aware of please? Obviously it's on a hill which is both positive (cleaner air) and negative (a pain to get up it with heavy bags).

Looks lovely, and the sort of area that sets it's own market.
The long trek (and kitchen-shuffle if entertaining) to the loo might be restricting for more than a couple.

I could not cope with that kitchen, no way. Bend over to get to the oven and my arse would have to be in the washing machine cavity. But I have fibromyalgia and a lot of hip pain. If you think you can cope with squatting down, fine. It's one of the harsher examples of a galley kitchen I have seen. Think about ageing bodies.

My S London is way outdated, but iirc Gipsy Hill is not quite as posh as Crystal Palace (which I love).

That’s not a lot of house for your money. Offer -10%. This time next year it will be worth at least that anyway

Lovely area- but you may well get more for your money in Sydenham or Penge than on Gipsy Hill (we are more upper Sydenham). Lots to do, and, if you have a small child, good local stuff. You are close to a good nursery there, and the primary schools are decent. Also lots of parks, restaurants etc, and (for London) a strong local community. The steep hills are just part of life in that part of London!

it's worth looking at the local FB groups to get a flavour of the area. They are pretty active. Like any areas, it has its issues, but is generally welcoming.

It really depends what you are looking for, tbh. We are only moving away as we need ti be closer to family when DC goes to school next year.

PS I would say ot's a nice house, but very small. You are paying for proximity to the Triangle and Gipsy Hill, so may or may not be worth it depending on whether you feel like those are what you are looking for.

Lol.. sorry I should have been clearer! I meant if I were in your shoes I'd buy it - it's LOVELY. You have no threat from me.. I'm north west.. although if I was down south...

Not for me, no hallway, having to walk through rooms to get to a tiny claustrophobic kitchen and a downstairs bathroom with not even a wc upstairs and all the rooms are so small, it does look pretty from the outside though.

The downstairs bathroom concerns me also as we want it to be our forever home. But it could get to the point one day when my tiny bladder plus all those stairs creates a problem.

Speaking from experience - one day it certainly will! However you could always put a loo and basin in the overstairs cupboard off the one bedroom.

Beautiful dining room.

Add an ensuite and dressing room above the kitchen.

Absolutely wait. It’s a really nice house but you’re not looking at a unique one-off type of place. Something else you like will pop up

That’s assuming your life can proceed with the rental. If you’re having to put your lives on hold I’d consider buying now

For this area, it is