Too cheeky?!

[USaYwHatNow]

Found a house we'd possibly look to make an offer on.

1st time it's up for sale in 50 years (since it was built!)

'Guide price' of £385k.

Pretty obvious an elderly person/couple live there and would look to do the following to the house:

-New kitchen (very dated, very old free standing oven with no hood/extractor etc) and some cupboards look to be falling apart.
-Extend the 'new' kitchen into the adjacent utility room so new cabinets/sink etc in there too to match. To be clear there is already a utility room there.
-New bathroom, currently a shower room with disability aids in situ. We have a baby so would ideally like to turn it back into more of a family bathroom.
-RE carpet the hall, living room and dining room. All currently one piece of carpet and think victorian style tiles but in carpet form 😂 laminate/Vinyl in the kitchen (currently carpet tiles!) utility, WC and bathroom. Bedroom carpet to be replaced in one bedroom as its a bottle green colour. Everywhere else the standard beige.
-New boiler as the house is currently being heated by air vent system.
-Removal and making good of stairlift currently attached to wall. Just had a read and looks like it can be done professionally and sometimes free of charge!

Are these reasonable enough renovations/changes to be able to offer a lower amount, taking into account the above?

A quick Google suggests:

-Roughly £14k for a '3 wall' kitchen cupboard kitchen and appliances (can't take with us as live in a new build) and have factored in a bit to include utility room.
-£1k for bathroom (can get cost price due to family connections)
-Just under £3k for the flooring
-New boiler/system £4.5k

Then maybe £5k for unforseens?

So in all a possible (lower end of guestimations) figure of about £27.5K. Happy to live with the rest as would just need a paint job here and there.

Is a suggested offer of £358k absolutely ridiculous? Would it be expected that actually all that would be funded by the buyer on top of the full asking price?

This would be our first move since buying a new build as FTM's so not sure about asking prices and offering a price etc.

TIA!

How busy is the road? You need to think resale too. Also does the price reflect the same style / condition on the street?
If they want 360 I'd personally go in lower and build up from there
Good luck

Offer of £365k accepted! I guess we've just bought a house?!

It sounds like you have but have you also sold your house?

@Twiglets1 yes we sold ours a couple of days before our offer was accepted

Was £365k your first offer or did you go in lower?
I think for the work you’re looking to get done and any contingencies - it will be best to budget for £40k. Some of your estimations I would say are not accurate.

Is the property actually worth that amount? What are properties selling for in the same road that are completely renovated?

@DevonshireDumpling1 we went in a bit lower but they counter offered. Yes we've got a bit set aside for contingency which is great but we've also got family/friends who are tradies who are happy to give us mates rates

@DevonshireDumpling1 other completely renovated/modern homes on the street have gone for £450k recently. The turnover on the road is very minimal, people appear to have either been in the homes since they were built or have long term families living in them

Excellent- it’s all systems Go in that case! Congratulations.