I've fallen in love with a house and they've just rejecetd my offer. How do I persuade DH to let me increase it?

[mummyjaguar]

We've been looking for months and months. A house came on the market on Friday and we went to look yesterday. It was love at first sight. I was having heart palpatations as we walked around. But its an expensive house and it needs £100k spending on it so we put in an offer ten percent below asking price which has been rejected. Went up by another £10k but that has also been rejecetd. I think the owner thinks she'll have offers flooding in given that its only been on the market for a couple of days.

I can't cope. I have to have that house. Now I know why phil and Kirsty always do their negotiations in the pub. I need a vodka.

How do I persuade DH that its a good idea to increase our offer?

What actually needs doing in the house? is it structural or cosmetic? Because it looks fine from the pics! How about I go in with you and we have half a house each.

You could actually in theory flog off the coach house if it was ever necessary. It has three rooms downstairs and two bedrooms upstairs. Its just a shell at the moment but it also has its own walled garden fronting onto the river.

If we had to pay full asking price we would have 40 per cent equity so we have a cushion there. We would be having a mortgage of 4 x salary though so really wouldn't want to increase our mortgage. We just wouldn't be able to afford the monthly payments.

I think taking a builder round is a good idea. You never know it might not be as bad as we think! DH just has a thing about payingmore than 90 per cent of the price though on principle in this sort of market so I think he might just say its still worth increaseing the offer.

I might have to start offering extra sexual favours.

We can afford it WiiMii. The other houses are more of a known entity though because although some of them are more expensive than this one, they are already done up.

The issue is more than DH doesn't want to pay over the odds in this sort of market.

I agree entirely though that I am letting my emotions take over though - but isn't that what buying a forever house should be about

the house looks beautiful and i can guarantee it will be am money pit!

you need to reckon on the following costs:

Estate agent fees
Stamp Duty
Solicitor fees
removals

plus renovations (add an extra 30% to whatever you think it will cost)

any mortgage arrangement fees

i don't mean to sound so negative but we bought a house recently and it has so far cost us A LOT more than we thought possible

We've got the costs factored in. Fortunately my husband is a partner in a law firm so we get freebies there plus I get a house moving allowance which helps.
Stamp duty is still astronomical though!
This is why it has to be a forever house. We can't afford to move ever again!!

I wish the market would just decide what its doing so that the uncertainty was removed from the equation. That's not going to happen though is it.

Might have to send the DCs out to work

LOL at sending DCs out to work!

stamp duty is horrific - i nearly fainted when i worked the costs out

we are NEVER moving again either

(i bet you have mentally moved in haven't you and you are deciding where to put your furniture )

This is like an episode of "Location Location Location"... The ones that have me yelling "SEVEN hundred and fifty bloody THOUSAND? Who the hell has THAT much to spend on a house??" at the screen.

I think quite a few people have UD.

Unquietdad you sound like my DH

We were very lucky. We both bought houses at the bottom of the market during the last crash and so we have built up a good amount of equity.

It's really good value for money, though, UQD! You get a lot of bang for your buck with that house.

I agree with othrs though, that you shouldn't go in with another offer at this stage.

I'd walk away.

I really would.

If it's meant to be, it will happen.

3 bed cottage just went on in our village for £1.5 million.

Oh how we all laughed.

Pretty much, UCD!

As I always think, 'That's not a budget, that's a Lotto jackpot!'

Hands off mumblechum its mine!

What a beautiful house. I think only you know how this compares to other houses you have looked at and what is otherwise available in your price range and that will dictate whether you can bear to play a longer game and hope to get it a bit cheaper or if you would be devastated to lose it, and have no other prospects on the horizon , in which case you may have to bite the bullet, price wise, to secure it.

Have you looked into whether there is much likelihood of flood risk from the nearby river ?

UnquietDad - are you me?

It's lovely, i'd increase your offer and hope that it's meant to be yours. You can do it up over the years.
(disclaimer - am useless with finances)

I think Cappucino brings up a very salient point.

You budget 100k for the repairs, but seriously, that can change.

You just never know, best to budget more and be pleasantly surprised than have maxed out and then be stuck with some serious repair bills.

The world is full of beautiful homes.

It is beautiful Winetime. The details don't rally do it justice either (which is good because it might put others off!)

It doesn't flood thank goodness. There's a flood plain on the other side of the river so the water all goes in that direction. There are also flood defences at the end of the village.

Are insurance premiums worked out just on the fact that its near a river though or do they go on whether a property has previously flooded? Does anyone know?

Have you had a survey done?

It's one thing if it's putting in a new kitchen and getting rid of the flock wallpaper, another if the whole roof needs to be replaced.

If it really is your forever house, it shouldn't matter whether the market falls or rises subsequently. It'll only affect the size of your children's inheritance.

We haven't had a survey done. We would have a full structural survey done if they accepted our offer.

Spoke to DH earlier and he has become very grumpy old manish about the whole thing.

He said I'm trying to make us all live in poverty. I said I'm not, I'm trying to make us all live in this lovely house.

He said even if the house was immaculate he wouldn't want to pay more than 90 percent of asking price in this market. As I suspected its a point of principle rather than a true view of the value of the house.

I'm going to have to try turning on the waterworks if he doesn't change his mind.

"He said even if the house was immaculate he wouldn't want to pay more than 90 percent of asking price in this market. As I suspected its a point of principle rather than a true view of the value of the house"

your dh is being incredibly shrewd. And you're being a bit of a mare tbh

I know. but that's what people in love are like

Maybe he doesn't like it.

You say you're trying to make you all live in a lovely house. Doesn't that include him?

What if he doesn't find it that lovely?

Doesn't he have a say?

Having now been the position of sole breadwinner, I have to say it's changed my perspective and I'm now more inclined to see things from my father's point of view, which sounds like your husband's.

He loves it too. He just doesn't want to pay anymore than 90 percent.

I agree entirely ordinarily and that's why we've been looking at houses for months and months. I just really love this one and will be gutted if we don't get it.

I know the sensible thing to do is to wait I'm just worried that someone who has a bigger budget will come along and snap it up.

I'm not really a complete nightmare wife - honest