Active discussions

Meet the Other Phone. Flexible and made to last.

Meet the Other Phone.
Flexible and made to last.

Buy now

Please or to access all these features

Talk
Property/DIY

Join our Property forum for renovation, DIY, and house selling advice.

Original poster

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?

175 replies

mummyjaguar · 12/05/2008 12:05

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?

OP posts:
ninedragons · 12/05/2008 16:18

I know you're flushed with house lust, but the toddler/river thing is a valid point. Would you be able to fence it off until the kids are a bit older?

My mum found me neck-deep in Sydney Harbour when I was two. She said I'd only gone for a minute, and had obviously made a bee-line for the water.

Original poster
mummyjaguar · 12/05/2008 16:27

It is fenced off. There is a wall around the garden and lockable gated access only to the waterfront. It is a concern though.

DH has a big tractor mower whihc he loves driving. We already have a large garden so are used to that part of it.

OP posts:
hertsnessex · 12/05/2008 16:47

That house wont take 100k to renovate - not unless you are going to be doing NOTHING at all yourselves.

if it is a long term project - then dont worry about the market falling - you dont want to sell - so it won't affect you (as such).

we have just spent around £50k +++ to renovate our 4 bed 1700's cottage - we done alot ourselves over 3yrs and tried to keep the costs low but the result looking good.

id go for it!

anniemac · 12/05/2008 16:52

This reply has been deleted

Message withdrawn

Original poster
mummyjaguar · 12/05/2008 16:54

The 100k figure is a max I think. Partly arrived at as a result of the fact that the estate agents said that's what they think it will cost! I'm happy to do it over a good few years though. And I know a friendly plasterer.

It all depends on the final fittings etc doesn't it (although I have to say I would love a luxury ktchen!!)

OP posts:
Blu · 12/05/2008 16:55

Does it need re-wiring?

noddyholder · 12/05/2008 16:58

I agree looking at it unless you are doing an extension or structural you may get away with less.I love the look of it and the garden is amazing.I bet they will come back to you in a month!

Original poster
mummyjaguar · 12/05/2008 17:03

Don't know about the rewiring until we get a survey. It didn't look ancient though.

I think the major expense would be a new glass roof for the covered yard.

OP posts:
Original poster
mummyjaguar · 12/05/2008 17:03

No walls to come down or anythign like that though. And certainly no need to extend.

OP posts:
Original poster
mummyjaguar · 12/05/2008 17:10

On our current house we spent £110k but that was adding two two storey extensions, two new bathrooms, a new kitchen, a conservatory, new wiring, new windows, new carpets throughout, landscaping the garden and plastering throughout.

Can I borrow your DH anniemac?

OP posts:
Prufrock · 12/05/2008 17:30

Gorgeous mummyjag. I so know what you are going through - we saw our current house 5 years ago, and the day we were due to view it, it was taken off the market. I was gutted. We did offer on another, but vendors pulled out on exchange day - 1 week before proposed completion and only 2 weeks before my 2nd c-section. We rented for a while, couldn't find anything else we liked (I was always subconciously comparing them to this house) andthen on the very day i decided to start looking agin in earnest the estate agent called me to say this house was being sold but secretely due to vendors work issues.
I jumped up and down as well, then had to ensure 2 weeks of dh doing sensible negotiating (a similar level to yours and we paid 91.5% of asking in 2005 but were cash buyers) whilst I wanted to just offer way over what they wanted because I had fallen in love. If it's meant to be it will be.

LIZS · 12/05/2008 17:40

Not read it all but you might want to spend 100k on it but do you really need to ? tbh it sounds as if you don't really know what costs are involved yet so you need opt get a betetr handle on what is esesential repair, what is cosmetic and what is desired to achieve the finish you want. Bear in mind that whtever you do may not equally appeal to anyone else so if you plan to resell at any point you may not necessarily get back what you put in.

You and dh have got to love it equally and if you do you'll pay whatever relative to asking price to secure it as presumably it would be long term. A bargain might be great but is not the primary objective for a lifelong family home. If he won't budge then you will have to look elsewhere as it simply won't mean as much to him and he could come to begrudge it. For that area it looks a lot though imho , even so.

expatinscotland · 12/05/2008 17:44

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

Exactly, Pru! That was my original OP.

I don't think people are being jealous. It's a serious investment and it would be unwise to do it impulsively.

In this market, too, it's prudent to sit on it.

Quattrocento · 12/05/2008 17:51

"And we CAN afford it. Sorry guys but that isn't the point. I know its not the done thing to talk too much about money but we both have very very well paid jobs and our salaries are very likely to keep rising for a good few years."

I hate to be the voice of doom but have you heard of the credit crunch? The first people against the wall when bad times come are the partners ... particularly in law firms

People mortgaging on 4x salary (presumably joint salary, as you both work) are usually first-time buyers. It's a risk.

QuintessentialShadows · 12/05/2008 17:51

Mummyjaguar,

As a seller, I would add 10% or so to the valuation to cushion myself against shrewd people like your dh.

If this truly is the house of your dreams, you shouldnt need to do any additional building works on it. You dont need to do up the coach house right away.

If the work is only cosmetic, there is no reason you should not just move in, and do it up over time.

The market is really stagnant. My estate agent (London) is expected to stay like this the next 12-18 months.

I think you should sit tight. For a week or so and see what happens....

WiiMii · 12/05/2008 19:29

This reply has been deleted

Message withdrawn at poster's request.

LittleMinx · 12/05/2008 20:07

Whilst the house looks gorgeous in the current climate, its not worth that amount of money, in my opinion. I am an estate agent and I think 10% under asking price is a reasonable offer for a house that size. What you need to remember is that a lot of renovation projects like that are normally snapped up by developers BUT with the current market, that won't happen. I personally can see where your husband is coming from, and would leave your offer on the table and hope they come biting your hand off in a few weeks time! I know its probably not what you want to hear, but so many people selling property have too high expetations at the moment and need a reality check!

anniemac · 12/05/2008 21:15

This reply has been deleted

Message withdrawn

Original poster
mummyjaguar · 13/05/2008 19:03

DH has thought about the situation and is happier about increasing our offer. I've now seen the recording of that truth about property programme and am slightly less enthusiastic.

Have received letter from agent asking us to consider our offer and get in touch to discuss. This could be standard practice I guess but it could also be a positive sign.

OP posts:
QuintessentialShadows · 14/05/2008 06:26

Mummyjaguar, go to the Motley Fool website, read their articles about the slump in the property market, read the articles about the percentage growth in the property market year on year from 1999 (the last slump) to date. House prices are predicted to fall.
The seller might be panicking, it is buyers market now. I think you should sit tight a little longer, maybe on monday call and say you have received the letter but are not so keen to increase the offer in the current climate where houseprices are predicted to fall. See what happens, but done blame me because I have no real clue what I am talking about.

I am torn between setting a realistic price on my own house that I am preparing to sell, or add 40k to be on the upper level of similar houses for sale in my neighbourhood. It is a gamble. My estate agent urge realism and want to go for a quick sale before the slump hits harder and prices start tumbling down...

NurkMagiggy · 14/05/2008 07:37

Sounds like they realise you love it and might be willing to come to some arrangement - good luck!

noddyholder · 14/05/2008 09:57

I think they will accept your original offer sooner than you think if they have been watching the news this week!Did you see that leaked memo yesterday stating that the govt expect prices to fall 10% this as the best scenario and after that they don't know what will happen and have no way of knowing.

noddyholder · 14/05/2008 09:58

this year

BrummieOnTheRun · 14/05/2008 10:24

If I was stretching myself financially I'd make sure I had income protection insurance and a slush fund of a few months mortgage payments (in addition to the renovation budget) in case the employment market dives.

But if you have your safety net in place then why not go for it? Your only risk will be a forced sale (relocation, death, divorce)of a house potentially worth less than you paid for it. Sorry, that's not very cheery, but we've had to think carefully about exactly this issue recently.

expatinscotland · 14/05/2008 10:25

I have a feeling that if you give it a few more days you will not need to increase your offer.

These people are fools not to take yours, IMO.

Swipe left for the next trending thread