Thoughts on this house

[sunja]

www.rightmove.co.uk/properties/145656803

Thoughts on this house? Absolutely love it and is my dream family home but think it's over priced. The same property went for £520k in 2021 on the same road (same layout but different exterior).

Prices have gone up but by that much? Think it should be around £600-£650k but don't want to view and offer that much below. Love the house though!

I hate to ask…. so why are you starting the thread?

yes it’s a nice property but you have no chance of buying if £600k is your budget

it went on the market a couple of days ago… see how it goes following first weekend of viewings

it seems to have last sold in 2013 for £426k

so seems a very reasonable increase to me

Do you mean literally the same property or a very similar one? The similar one may have had structural issues - needing a new roof or heating system or rewiring. They look quite old - are they 1930s?

It's close to my dream house too. I love the scale and layout of those homes.
If you have the money and reckon you'll live in it for twenty years - I'd buy it. Homes don't have to be profitable. They have to be right for you.

No way are they going to knock off 65k-115k, it’s only been on a few days! Either go in with a better offer closer to asking or forget about the house

Why not view and ask? Say 3 years ago a similar home was in the 500s, why the huge jump during a recession?

It may come down in price.

what number is it?

I think it's beautiful and the layout absolutely wonderful for a family. I imagine it will be popular based on just the photos and floorplan.

Was the similar property finished to this high standard? Was the square footage exactly the same?

According to Rightmove, properties in Lichfield generally have risen only 2% since 2021. So it really is hard to understand why this house is valued so highly unless they have done extensive work or an extension.

I would view it and be asking the EA those difficult questions.

op it didn’t last sell in 2021

it last sold in 2013 for £426

the property that sold on this avenue in 2021 for £520 was no where near as nice as this one!!

i have just looked at the 2021 property

no where NEAR as nice as this one.

Everyone always thinks the property they like is overpriced, but if you want it that’s the price you have to pay.

You want it but can't afford it. Pretty normal I'd say. Perhaps lower your expectations or win the lottery.

Op are you making the mistake of thinking the house is actually what you can afford?

the house that sold in 21 is not the same as this house, from the plot being more overlooked, smaller, no conservatory etc,

this house was last sold 11 years ago for 426, so likely the price is in the ball park, maybe a bit less, but not where you are.

id urge you to look at house both in your budget and say 50 grand above, when you start to get into 100 to 150 k more you are highly unlikely to ever achieve that and always be disappointed.

in addition a house is only worth what someone is willing to pay , so someone else may well offer much more, ultimately though it’s irrelevant, no one is entitled to the house and the owners can stay in it and reject any offer they please,

I found it! It's much smaller - not the same layout at all. The other one says 180 m2. The one above clearly much bigger than that. Plus a much nicer and bigger plot.

If “Sitting On The Desirable Development Of Darwin Park” means it’s on an estate then three quarters of a million seems a lot of money! Especially for a smallish overlooked garden. It does seem a large increase in a short time if the other house was very similar. If the house and location is what you want, then bide your time and go see it if it’s still on after a month. No point making “low” offers right away.

Actually just seen - they are both 180m2 I was wrong.

The one in the OP seems much bigger...

I like their paint choices, particularly the pale blue in the lounge - very calming and restful.

I think the one the op likes has a conservatory, is in a bigger plot, is not overlooked quite as much, so a better location.

Agree, it’s a beautifully presented house. Just need to be sure what it last sold for and what has happened to property prices in Lichfield since that date to understand if the EA is being wildly over ambitious or not.

A chat with the EA should help OP do the necessary working out re what to offer, assuming they still want to after viewing.

I think it's a lovely house, I find the bedrooms and garden a tiny bit small but there are lots of different areas downstairs. For some reason I thought Lichfield was in Sussex and so I thought it was priced well, but I'm surprised about this price further north (although I don't have experience of the area)

This is a random observation but why is every single radiator so tiny? I notice there is a log burner in the living room, if it creates enough heat for the whole house it must be sweltering in there?

Our top top budget is £720k but would be more comfortable spending around £650k with current interest rates. Happy to go to top if we absolutely love it and feel it will be worth the monthly mortgage payments.

Our main concern is not overpaying because we can^^ - we want to make a smart financial choice and I wanted some advice as to whether this property had been priced ambitiously as it is on a huge (but very beautiful) estate. The layout is absolutely perfect and I love the exterior of the house but I'm not sure if it is priced right and was seeking some advice on this board.

Also, the houses were built about 20 years ago, so not super old houses

Just use houseprices.io and work out what it's worth to you.

With respect @sunja none of us can give you the best advice re is the property overpriced or not because we don’t know the area or how this house compares to others you could buy for the same price.

You have to do proper market research, no one else can do it properly for you and you can’t 100% trust anything the EA says. If you view lots of houses in your area you will soon feel more confident deciding which ones represent better value for money according to your personal priorities.

I think it's highly unlikely that they'd accept an offer of 600-650 at this stage. You could either put in a higher offer to try to secure it now or wait to see if it's reduced after a while - all depends on how fast moving the market is in your area and how much you like it. It's a lovely family home, good luck!