Frustrated with the market

[Leopardspaint]

Feeling really down about my housing situation lately. I'm checking rightmove everyday but there is nothing being listed apart from 4-5 bedroom houses which are no good and completely out of budget for a first time buyer like me.

The only house that ticked some of my boxes and that I actually liked is massively overpriced. Seller still thinks it's 2022. My offer (5% under asking) was rejected yesterday even though it's been on the market for 13 months and is vacant. Yes, I know sellers are well within their rights to list it at whatever price they want, but this house needed work including a new boiler. My offer really wasn't a silly one. Make it make sense!!! No other properties that are any good.

I know there's nothing that can be done, just feeling really deflated with the whole bloody thing.

Maybe say you will leave the offer on the table and you have other properties to look at - personally 5 percent is not bad going. Wait a week and if it’s really what you want see if they will meet you in the middle.

Me too! We have put in an offer for seven grand less on a three bedroom detached house and it's been rejected despite being on the market since December and being in need of renovation. Thought we were overpaying at that price tbh!

Unfortunately you have come up against unmotivated sellers.

A motivated seller would be prepared to do a deal. I would keep the offer on the table and not increase it. And also keep looking for alternatives.

However if you think the house is worth 5% under asking then I wouldn’t agree with your terminology that the house is massively overpriced. It is just overpriced.

Is that house priced at that level comparable with other houses in the area? Even if you don't like them.

Do you know the situation of the sellers? That can make a difference, if they need the asking price then they won't come down.