How much to pay

[2longinthetooth]

Seen a house on for oiro 314,950. Owner paid 285 in jan 2025. Nothing done to the house just decor updated. In good condition. Market here slightly flat. Mixture of reductions and sales. Its been on market a week. No offers. Its 3 bed detached. 2 bathrooms. 2 reception. Im at a loss to what I should offer, I think its well over priced. I want to offer fair but not over pay. Looking online is a nightmare.

Or even if they would want it! I can’t believe all this debate not even knowing if they like it in person 🙈

If you are pretty sure you want to buy the house, I would offer 290. Prices have gone down since last year and it doesn't sound as if they have increased the value. But offering what they paid last year might depress/annoy them so much that they refuse or take it off the market.
I blame estate agents for suggesting or even allowing the expectation that house prices always go up, even when they clearly are not.

But you don't know that. If they have done new windows, new electrics, new roof for example, these all costs thousands and may not be noticeable on images. You can't assume nothing has been done just because the pictures don't look like ithave you viewed. It could be the estate agent is using old photos

I don’t think it’s unreasonable to want a rough idea of value before viewing, especially after two purchases falling through. You can research prices and still keep an open mind when you see it.
I’d look at recent sold prices for similar houses nearby. What else would £300k buy you in that area? Their previous purchase price is useful context, but it wouldn’t settle the value for me.
The “it’s an ok house” bit stood out, though. I’d view it without putting yourself under pressure to offer afterwards. Do you think you’d be considering this one if you weren’t so exhausted by the whole process?

You sound thoroughly exhausted by this house purchasing nightmare and I don’t blame you one bit. You need to ask yourself why are you bothering with this house if you feel it is overpriced? Go after another house! Here is your answer, the fact that you are even entertaining buying this overpriced house is to me the best house you feel is on the market. If you are very happy to walk away then offer low. Would you be upset if someone else came along and you lost this house for a few thousand pounds? if However it’s only been on the market 1 week.
So unless they are very desparate I wouldn’t expect them to accept just yet. They are obviously trying to recoup some of their buying/selling costs which to be honest you can’t blame them. Maybe they got a great deal when they bought. Good luck and hope you managed to secure it at a price you feel is fair. I think human psychology makes you think you always sold too cheap and bought too dear.

You sound like the flakiest buyer ever.
View the house, if you like it offer what you would be HAPPY to pay for it. That's all.

100% agree. The market has been almost flat over past 4 years, so seems like the sellers are trying to recoup some of their stamp duty.

Also remember that the majority of estate agents over value properties just to get clients to sign on dotted line.

I'd look at sold (for for sale) prices on nearby streets, and make offer knowing it's a buyers market.

You're in the minority, with 2 & 5 year fixes nearing 6%, and a further 100bps incease the base rate expected over next 12 months, cash buyers hold all power.

@Tortephantbecause the pic very rarely stray from reality, ive been to see loads of houses.

@1985goingbackagainHaving seen loads i could walk you through, its normal new build not a bloody stately manor.

You said it’s not an area you are familiar with which surely builds into the overall position with the house. I think houses have different atmospheres though and would never form a view without being there and feeling it, even if it was a new build box.

Agree. This whole scenario is madness.

So what's special about this one on paper? If you have seen that many, even though you don't know the area, why offer on this 'ok' one.

@goodgirl2think you've hit the mark, so fatigued by it all. No im utterly pissed off by it. Ive seen so many houses that 1 just looks like another. New builds rarely have outstanding features. I dont even have to step inside this house to know what its like. The pics may be deceiving on size but as for anything else im not really swayed by fancy kitchens etc Houses are never your taste.

Well they might have - but would you do all that if you weren't sure you were going to stay?

We know the town but not the estate, we have been there several times to look and have spoken to people who live on the street, our buyer sold his house there so we know its a nice area, house looks nice. Just want a rough fair price in mind. I know what you are saying about the "feels" but that can be bs.

@Tortephant dh is excited over it. would we live there happily probably, think we are just both getting desperate with the whole situation.

You need to take a breath as you probably have buyers fatigue! You could decide to have a break and return again in the new year. If you think this house is really worth viewing, go and see it with an open mind. You can always ask the estate agent why they chose an asking price more than 10% above what they paid less than 2 years ago. What is the market like in your area? Some places are still rising for some type of property but others have fallen.

Have a look at https://ottaproperty.co.uk/ and have a look at your area under trends. You can select the area on the map, actual values and the type of property.

This is also worth looking at. They report an average fall of 4% in England and Wales in the last 12 months.
https://brickview.ai/reports/september-2026

Once you have researched, viewed the house, spoken to the agent, etc, you will be in a position to decide whether to offer and what figure you think is reasonable. Personally, if your area is falling, and they have really done nothing to the house, I would be looking to offer less than they paid.

I have £300k cash to spend. I’m going to buy something I haven’t looked at, don’t know anything about on paper looks OK.

At which point will you realise how bonkers this is?

@rainingsnoring yes fatigued is an understatement. Since May ive had a hysterectomy, sold, cleared the shit to downsize, 2 failed offers and the bs that entailed. The constant to and fro of packing for airbnb or new house to storage. We dont even know where we are living in dec yet because we only pulled out of the last house 2 days ago, It would have completed by Dec, we will have to sort that out next month as we are moving out in 5 days to airbnb. Trying to organise work, kids, dogs, life, its all got too much. Dh is trying to keep the momentum going but im burnt out.
Thanks for the signpost will check it out.

@Tortephantno We have more than the full asking but never mind. I dont think its bonkers to have a rough idea of how much on paper the house is worth, every house has a ceiling price, when viewing the figure can be adjusted accordingly.

After everything you’ve had going on, wanting a rough figure before viewing seems perfectly reasonable. I agree about looking past the décor too. Paint, furniture and a few indoor plants are things you can sort out later; the layout, space and location matter much more. I’d use similar nearby sold properties to set a rough range, then see whether the viewing changes your mind. You can like it enough to move there and still have a limit on what you’ll pay.

@2longinthetooth ive namechanged but we are on another thread together about property.
why not ring the agent and ask why they are moving/why they have priced high.
You sound exhausted. I’d focus on finding a nice cosy rental and maybe take a break from the search?

@goodgirl2yes every house has a ceiling price for the area, this one is difficult to judge because house prices have dropped, there are so many conflicting online articles. You see a trend down tho on rightmove, been happening since the summer. I need to get things clear in my head before any viewing because ea flannel you with so much crap and are generally dishonest. Ive a list of questions for saturday, with everything else going on it fries your head. We are serious buyers and would never view a house without doing the background checks before we entered the door. The price being the most important. Thanks for your help.

@HaenschenKlein we are viewing saturday so im armed with a list. Personally id leave it because im burnt out, but dh is dreading renting for months. It will be months tho because they are a chain, so easily 4 months. The thought of starting another conveyancing makes me want to run for the hills, on the flip side we have found a fantastic surveyor.