I have found the house I want

[Jampot]

its just come to the market at 285k, its an absolute nail, needs double glazing, entire central heating, total redecoration, kitchen and bathroom. Would need a mortgage, so would have to convince dh on that - hasnt been very receptive so far. They have already turned down a cash offer of 250

If it is that much it must be the most perfect spot in London or HUGE!

Either way, if it is your perfect house and the work to be done does not sour it for you then go for it - with knobs on. I can honestly say, living in your dream house, has to be the best thing you can do for yourself!

[[http://www.rightmove.co.uk/viewdetails-11291430.rsp?pa_n=1&tr_t=buy&mam_disp=true this is it]

this is it

Have you looked on nethouseprices.com to see what they or their neightbours paid for it/in the area?

Wait that house it not worth more than £250k even done up.
I know the area and it's very Old Money, so it'll take a bit longer for them to accept the drop but they will.
Whoever rushed in with a cash offer did themselves no favours, you always wait 4 weeks at least.

You'd better sort out your mortgage - so that when the vendors do see sense - you can rush in with your offer.

Well i like the house a lot, I don't know the area so have no comment on price. It does need a lot of work - do you know why the kitchen has been plastered?

Anyway, I hope you get your own way, like I say, the perfect home is a big deal!

yes - next door sold for 421k last year but it is beautifully extended, with blocked driveway, nicely tended garden, fully kitted out with dg, gch, GSOH etc and in my humble opinion I cant see why it would command that much even then.

Because people were very daft 18 months ago, everything has changed since then.

yes i wondered they have replastered the kitchen yet lkeft the original units

Katie - yes there is a lot of Old Money in the area and the locals' idea of what they can fetch for their houses will take some altering.

NCbirdy - Dont know why the kitchen or other walls have been plastered but think there is a damp problem too (black marks up the walls even upstairs). It has super potential and more importantly doesnt have 4 beds which means we'll never have to have inlaws to stay

the average sort of price for a regular 3 bed semi on that stretch of road 12-18months ago was about 320k. There are various styles of house along there but I think they are comparing to immediately next door

West Midlands been hardest hit by the housing downturn - Old Money or not, they'll have to take it on the chin. Basically they have dropped 10% since peak... think it will come down a bit yet.

Jampot, houses around that area have always held their prices well before because of being in the catchment for Arden school. Think that's why a lot of vendors round there are struggling with the idea of a downturn.

Really can't see that house is worth anymore than £250k given the market and the amount of work that obviously needs doing to it.

What are you going to do?

i know although my children go there and we didnt live in catchment when they were offerd places. During the high intake years children who lived after the railway bridge weren't even offered places at Arden.

Dh isnt prepared to apply for a mortgage that we would need to buy and do it up to a decent standard as he is always worried about his job - which is fair, I guess. Im sure another one will come to the market in the next 6 months

Jampot - have you looked around it? I think it is worth doing that so the estate agent knows you are interested if the price is reduced.

Jampot - have you looked around it? I think it is worth doing that so the estate agent knows you are interested if the price is reduced.

yes i looked at it yesterday - i quite like the lady who showed me round - she actually rang me about it last week as she knew i would like it.

im looking at everything right now - another 2 tomorrow but neither look as nice as this one

what do you guys mean by old money?

Jampot it looks lovely! But hold your nerve - is someone going to snap it up?
NCbirdy You are fab! At last someone who says that having your dream home is everything! I'm sick of people telling me the opposite, wait another six months blah blah blah house price crash blah blah blah!

i think if its still on market in 3 months then we may go for it - if its meant to be..etc

looked at a couple of others today - didnt compare at all

my so called forever house is still on the market at the same price, 2 months after we offered on it, and still not rented out!

Oh jampots, it is lovely
My dream-forever house is on the market for £299,999. Our house will only be worth £220 in today's market. We are not able to increase our mortgage and I keep looking at it going [sob]

If you really want it, and can afford it, then it is time to work on dh.

Good luck