How much would you offer on this house?

[Somethingsgotthagive]

Small 2 bed cottage in a very expensive area of the home counties near London.
Asking price is £450K, agency reckons sellers will accept offers as it's an ex rental and they are keen to sell as it's currently costing them money. On the market for 2 months.
60 sqm, in a lovely road next to a great primary school. Downsides are that there is only 1 bathroom and it's downstairs right against the kitchen and garden is really tiny. Cottage is in good condition though with nothing visible that needs to be done (not done a survey yet).

I am thinking £425K is a fair offer and it will also mean no stamp duty costs, is it fair or should we go even lower?

How does it compare to other 2 bed houses in that area with downstairs bathrooms about 60sqm in size?

@Twiglets1 there aren’t many tbh… the ones I have seen range from £420K to £500K depending on a few factors.

So the price seems reasonable for your area especially as it’s in a lovely road.

425k does sound like a fair offer from the information given.

Yeah £425 sounds worth a punt. How much are the local 3 beds going for? Will you want a 3 bed in the future? Is there potential to expand?

@PermanentTemporary no potential to extend as garden is truly tiny.
3 beds start from £600K+

Blimey. I think I'd be tempted to try for £420!

Sounds like a good target but I would probably start lower than the 425 you are hoping to pay. Two months and still on the market, in a lovely road, suggests it might be overpriced.