Hello!
Apologies in advance for the waffle on. I’m really hoping to ask for some advice from someone a bit more experienced with buying/selling or just more clued up than me! I’m a single Mum with no living parents and don’t really have anyone to ask about these things.
I bought my first house in 2022, around the time the market went a bit crackers and everyone was getting outbidded. I was in a rush because my landlord was selling up so I ended up offering 152 on a property that was on for 140 (I know!!) but every single house I had viewed was going for way over and I kept getting outbidded. I really like my house but have had to do a fair bit of cosmetic work (stripping wallpaper, new paint across the whole house). I also got a driveway put on the front of the house as it had only on-street parking. So I’ve spent a fair bit to get it where it is now. Anyways, I’m in no rush to sell but I would ideally like an extra bedroom as I currently mainly WFH in my front room which isn’t ideal.
In the summer, a house came up for sale 2 streets away from where I live. I drive past it all the time when taking my son to school and we always talk about how lovely it would be to live there as it’s right next to a huge park we walk the dog daily. The house was on for 160, but at the time I was going through a mortgage transfer so I just thought well it’ll be snapped up in no time and now isn’t the best time. A couple of weeks ago the house was reduced to 150 so I thought right I’ll go and have a look and maybe it’ll be awful and I can stop thinking about it. So I went to see it and it does need a lot of cosmetic work doing (super dated, currently isn’t being lived in so it’s very cold, dusty, grubby…but no damp that I can see!) but of course I looked past that with my rose tinted specs. It has a gorgeous upstairs sunroom off the bedroom and a balcony which overlooks a huge long garden with a view of the nature reserve & fields. It has the third bedroom which I wanted too. I really like it!
When I was in the garden the neighbour came out and we got chatting as we both have a son the same age, they seemed so lovely and told me “off the record” - someone had put in a “cheeky offer” of 135 which the seller accepted, but the buyer changed their mind. I did think 135 for a house on at 150 was quite bold but the house does need work. The flooring is completely knackered - think dusty floorboards with carpet grippers still attached.
So my thought was, well maybe if I could get 152 back on my house then I could go in below asking and have a bit of a cushion financially so I can do some of the urgent things? My mortgage advisor said it would be easy to port my mortgage across no worries and I could even borrow more if I needed.
So I got my house valued by 2 different EA, both said they would put on for 145. Which stings, considering I obviously paid 152 and since then have done it up much nicer inside and a driveway added.
Im just not really sure what to do next.
I have another viewing for the property I love on Friday - so far they’ve had over 20 viewings but no offers. Which makes me a bit nervous to what other people are seeing that I’m not? the seller apparently is desperate to sell as it was a family home but they’ve separated and he’s moving area.
So I suppose what I’m asking is, what other costs do I need to factor in when making an offer?
estate Agents said they would be fixed at 1300
What else do I need to budget for?
What would you go in with as a first offer? Would 135 be really cheeky? I don’t want to offend him, but at the same time I want to have a cushion if I can to get flooring sorted.
What things should I be prioritising in my second viewing? I did see the boiler and it’s less than a year old apparently.
thanks so much in advance