If your house hunting budget was £450k ...

[frootbowl]

... ... what would you set your upper limit to on Zoopla etc, bearing in mind some sellers might take offers? We've set it to £475k but not sure if that's reasonable.

In case it's relevant, we're looking in London (so a flat, preferably share of freehold), and the £450k upper limit is a definite max due to use of a LISA.

525

I would set it to 500k so would also get to monitor properties that maybe start at 500k but get reduced at 475k after a few weeks.

The 450k LISA issue is a bit of a problem in London (my daughter was in the same situation). Hope you find somewhere nice soon that you can get for 450k.

£525. Helps to see what extra you get for more money and decide what to compromise on. Plus be aware of reductions in future.

I was looking at flats with my daughter yesterday (dreaming!) and we saw three identical looking flats in a large development priced at 270, 290 and ‘offers over 320’.

The LISA limit is an issue but probably better to keep it as it is one small thing to manage prices and a good negotiation tactic for buyers.

Never look over budget hoping to get a discount as even if you do you'll be maxxed.

Houses are not 'brand new' items (even new builds are shoddy AF now a days) so always assume their will be fees, surprises, work needed or things you realize you need to change to suit you once moved in.

It's only a maximum because of the LISA limit. We have some leeway above that to cover other expenses.