Going to view a house today that I want badly !

[skidamarinkadinka]

Gorgeous 1930s detached house, needs alot of modernising, huge garden, big drive and garage. It's on a main road into town but all the houses on this road are the same and just so lovely to look at.
We are not on the market yet but plan to get the same estate agents to list us asap. We need to move, we've outgrew this house in the last two years.
They want £450k. It was reduced in October.
Feedback has been the main road putting people off and also the work that will need doing.
How can we up our chances ?
We can probably go upto £430k but that would be the maximum.

It had been on 9 months and we got 15k reduction. It was a probate sale.

It had already reduced by 45k when we offered.

Originally on for 475k and we got it for £415k.

Agree. We are in the process of buying - we were the third people to view, and the first to make an offer, the house had only been up for 3 days and they would definitely have got another buyer as it's a desirable area, but we thought sod it, let's offer and see what happens. We made it clear we were totally serious and we'd get our house on the market sharpish if they were happy to go with us.

The seller accepted and stopped viewings, with the proviso we had our house listed within 7 days (at which point they marked it as Sold SSTC) and a buyer within a month, both of which we achieved.

Good luck OP!

Whatever you do and however much you love it, don’t pay over the odds for it, that is never a good idea. Also, be aware that the cost of renovations has gone through the roof, building materials costs have risen enormously partly due to Brexit and Covid, so it’s almost certainly going to cost more than you think to do it up. Good luck though, I hope it works out for you.

Yes that is odd.

Remember that all the work doesn’t have to be done at once. Some people move in and start ripping out kitchens and installing double glazing before the ink is dry on the contract, but as long as it’s safe and without any major structural problems it’s possible to live with groovy carpet and avocado bathroom suites until you can afford to replace them, even if it takes years. If you love the house do what you can to get it.

We bought ours at the top end of our budget and it took 4 years before we could start doing any work beyond painting the walls, but it was worth it because it’s a lovely home in a great neighbourhood in catchment for good schools and we’ve been here for 20 years now. The kids won’t remember or care about the tomato soup coloured carpet in the dining room, but they will remember having friends living close by, being happy and doing well at their schools, and having birthday parties in the garden. Good luck!

Don't start planning ahead until you've been inside! The reality might be completely different to your expectations. After all other people have seen it and then not wanted it.

A few years ago I went to view a flat that sounded perfect - it met all our specifications, ideal area, 2 bedrooms, 2 bathrooms, sea view, large living area. Like you, I couldn't sleep the night before. When I walked in my heart sank. It was gloomy and poky and the bedrooms were awful shapes IRL.

The estate agent insisted on showing me another flat in the same development which was on two levels (absolutely not what we wanted), a studio so one huge space with no separate rooms at all let alone two bedrooms , only one bathroom and an inland view not a sea view. So pretty much the opposite of our specification.

Within 20 seconds of walking through the door I know it was the place for us. I offered the asking price on the spot even though my husband hadn't seen it yet.

That was 8 years ago and I still love it.

@skidamarinkadinka I'm forward to your update

We offered on our dream house without our house on the market and had the offer accepted even though the house had only been listed for 2 weeks. We’d missed out on another house before because we couldn’t move fast enough/offer as much as others so had been preparing for how we combat it next time knowing we don’t want to list our house and sell if we’re not moving to the perfect house.

1. We reduced the house price we were looking at to buy so we were able to be competitive against other buyers on the houses we were looking at.
2. We spoke with a mortgage broker who told us we could get a mortgage that covered the value of our house sale as well as the mortgage needed on the new house (obviously we’re very lucky to be in this position to afford a mortgage that size short term). We’d then pay off the lump sum of our house sale in the mortgage as soon as we’d sold. This was basically a more affordable bridging loan for the months it took to sell ours but basically removing ourselves from a chain. This obviously comes with risk and in the end we’ve managed to list and sell our house before we buy the other as it’s going so slow.
3. We offered asking knowing they’d priced high as reducing our budget meant we could be competitive.

Wishing you luck, I second what others have said about plan for hidden costs as our survey has uncovered a lot more work than we’d anticipated to have to do.

I wish people wouldn’t view before being under offer. It’s such a pain in the arse for vendors and just ratchets up the emotional investment/stress on both sides.

This what ever you estimate for price of work and time, double it

All you do is stipulate viewing criteria to your EA, really very simple

A lot of people have woken up ready to pour sour milk over your excitement haven’t they?

Huh?

I think you’re the one who has woken up a bit sour

SSTC is normal here, when an offer has been accepted.

This is so lovely to read. I’m always so surprised these days that people want everything done at once. The beauty of renovating an old home is gradually peeling back the layers and respecting what’s gone before. Getting a feel for the place and how the light moves around.

People always say they want an older home, then modernise it to look like a homogenous new build, with features that’ll so quickly go out of fashion. I see so many lovely solid, crafted old doors in skips, not even taken to reclamation.

And you’re so right, if it’s the place for you, it’s your home from the start. In fact, kids have happiest memories of a place they’ve helped do up and it teaches them to have a determined attitude, problem solving and practical skills.

And I love avocado bathrooms. They look great with grey tiled walls, e.g. slate. It makes the colour pop. More stunning than boring old white. In fact, I want a bathroom where the bath’s 70s avocado, the toilet’s 60s pink and the sink yellow art deco!

But that is not Sold STC

Under offer until point of exchange
Sold STC once exchange

I specified that no one who wasn’t immediately proceedable (procedable? Sp?) was allowed to view ours last time we sold. We knew there would be loads of interest just because of the location and the fact that it was a straightforward, structurally sound house, and we weren’t in a chain, so why add unnecessary time and complication? It’s a different matter, obviously, if it’s a tricky house in a difficult market, and you’re desperate for buyers.

We bought ours before putting our old house on the market. Just took out an enormous loan to fund it. We did have a massive deposit though. Just became cash buyers. Then sold the old one to pay off the loan.

Thank you so much for all comments, realistic and wishing us luck.
I'm a natural worrier, I'm autistic and this makes me get things stuck in my head, I overthink so much and can really get myself worked up.
So I'm trying to go into this as, if it happens it happens, if it doesn't well then there was no harm in looking/trying. What will be will be kind of mindset. But I really want that house !! But yes, let's look inside.

I could see us living there. It is a home. And yes work would need doing, but isn't that part of the fun ? I say fun lightly 😆

Did anyone ever just know when they walked into a house that it was THE one ?

Our house is mortgage free if that's relevant to anything, the sale would be our deposit (around 200k) I'm not sure if larger deposits mean anything these days though.

Go for it! It’s unlikely to fly off the shelf in the next few weeks if it’s been on since October. If you love it, go in and offer what you can, being honest about your situation. If they won’t take it off the market immediately, you can ask if they will accept your offer in principle, then quickly get your house on the market.

Like a PP said, make it clear how much you love the property and are keen for it to be your forever home.

Probably. If it’s been on the market for ages they need to follow every lead. I’d suggest getting your house on the market immediately then having a second viewing before deciding what to offer.

You have become hyper focussed OPand this thread isn’t helping