Will I get a £600k house for £500k

[caravantulips]

Suddenly find myself looking for a house for the first time. (Long story but I’ve never looked or bought before). There’s a new build advertised as £595 guide price. Am I totally naive in thinking that the price could be brought down if they do don’t all the finishing hi spec bits. Plus slow market at the moment (I have no idea - is it slow? Just thought might be with the news etc.). £500k is my absolute max budget. Am I wasting time even thinking it’s an option?

I know someone who's had a 320k offer accepted on a 400k asking price house. It's probably only worth 350k. The market has slumped , the seller isn't living in house and is paying two lots of council tax. They've agreed after 12 months on the market, and other offers having fallen through.

If no offers at 350 how is it worth 350?

You're right it's only worth what someone is willing to pay. Looking at what other properties have sold for in the street/ locality, I'd have put it at 350k. I thought the 400k sale price was wishful thinking. The market might well be falling though.

Yes, 3 years after first marketing, the price dropped - after a tenant moved out so the house became vacant again. Doesn’t sound like the OP wants to wait years for the seller of the house she likes to drop the price.

Fair enough, it was your estimate, makes sense.