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What Would You Pay For This Home?


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Now everyone is starting to realise prices are not too peachy, I am contemplating putting an offer in for a property, to see what the general consensus would be. I have a figure in mind (15% below advertised.) for 125 grand. Question is, what would you pay?

The mortgage woud give me around a 3.7 multiple. Its in a fantastic area, beautiful scenic engish countryside. So, how much cash would you part with. Bear in mind, it is not an investment property but somewhere to live.

Nice Pad

Edited by mbga9pgf
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Not my patch I'm afraid ,so its impossible to actually give you a figure. If you want to know what it is really worth long term,find out what it would have been marketed for in mid 2001. That's the sort of figure you will not go wrong at , even if the market undershoots over the next couple of years.

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Not my patch  I'm afraid ,so its impossible to actually give you a figure. If you want to know what it is really worth long term,find out what it would have been marketed for in mid 2001. That's the sort of figure you will not go wrong at , even if the market undershoots over the next couple of years.

Cheers. Think you are both right. Never, ever fall in love with a property until you own it; I will try nethouseprices now. It does look good though.... :(

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Cheers. Think you are both right. Never, ever fall in love with a property until you own it; I will try nethouseprices now.  It does look good though.... :(

To be honest i think at this moment it time its not bad to fall in love with a property, just dont over stretch yourself and dont look back if you buy. Be happy with what you buy and dont worry about it. Thats what i think anyway..

The market is a joke at the moment but it depends if you are looking for an investment or a home. If i was looking for a long term home i probably would have bought in this market already.

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To be honest i think at this moment it time its not bad to fall in love with a property, just dont over stretch yourself and dont look back if you buy.  Be happy with what you buy and dont worry about it.  Thats what i think anyway..

The market is a joke at the moment but it depends if you are looking for an investment or a home.  If i was looking for a long term home i probably would have bought in this market already.

Problem is with work, I could be moving at anytime... Goes with the job unfortunately. Although I do expect to be in this area for 5 years, and they would give me a second home if me and future wifey moved out of the area, so it would not be too bad... Thing is, I dont want to get too greedy. Thats where all the sellers are starting to get unstuck. at the same time, I dont want to enter negative equity EVER. I dont like debt, and I certainly dont like having more debt than assets, its one of my rules. There is no real motivation to move, its just that this place caught my eye. but be under no illusions; 125k would not be up for renegotiation.

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Now everyone is starting to realise prices are not too peachy, I am contemplating putting an offer in for a property, to see what the general consensus would be. I have a figure in mind (15% below advertised.) for 125 grand. Question is, what would you pay?

The mortgage woud give me around a 3.7 multiple.  Its in a fantastic area, beautiful scenic engish countryside.  So, how much cash would you part with. Bear in mind, it is not an investment property but somewhere to live.

Nice Pad

A one-bedroom property! massively overpriced even at current asking prices, it’s a one bedroom flat with a patch of grass & a bunch of flowers ... nothing more. It’s worth no more than 110k at the top of the market. No more than 70k post crash.

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Cheers Guys, will give me something more to think about! Problem is with property you really really like, always think its worth asking others for their opinion. In no rush to buy, so will sit on it a little longer. Might even start to go to property auctions. Is there anywhere that advertises online other than that hideous site that charges you the privelge of seeing what is up for auction?

Can imagine Repo'd homes will start to become more prolific, plus, give me something to do with free time.

Definately hope to move to the area, no hoodies for miles, local pub even local butchers and grocerer... defenately a pleasant neighbourhood that everyone seems to know each other in.

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Why don't you go and view it, then when the agent rings you say you are thinking about it - give reasons why it's overpriced and say you need to think about it more. Then put in an offer of 100k.

I went to see a flat back in feb, it was a nice flat but it was out in the sticks and right next to the base of an electricity pilon (a very big one where you could hear the electricity buzzing). I wouldn't have bought that flat even if it were half price, but i did say i need to think about it - the EA really wanted me to put in a low offer, and I still declined, much to the EAs pestering!!

P.s. the flat is still on the market!

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For what its worth,

It is a nice place for sure, but you know where the market is going. Your letting your heart rule your head, sit on your hands, there will be plenty of other oppotunities for you to throw your money away, no need to do it today :)

To me no 1 bedroom place is worth over 100K around these parts, that includes swindon. Only really see london as an exception.

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When you buy one bedroom places its all very nice until you want to start a family. This will limit your choices in the future as if you buy in a market that is dropping you will never be able to move until the price goes back up again.

Got to admit though that you cant beat an old house... none of this modern rubbish!

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Now everyone is starting to realise prices are not too peachy, I am contemplating putting an offer in for a property, to see what the general consensus would be. I have a figure in mind (15% below advertised.) for 125 grand. Question is, what would you pay?

The mortgage woud give me around a 3.7 multiple.  Its in a fantastic area, beautiful scenic engish countryside.  So, how much cash would you part with. Bear in mind, it is not an investment property but somewhere to live.

Nice Pad

I would offer 15% more than the asking price just to make sure you get the house and nobody gazumps you, its all about Location Location Location.

Love

Kirsty

B)B)

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It looks nice, but with only 1 bedroom you would have troublke selling it as well. As everyone will think the same.

I know its nice, but......

It could only ever be a starter home. EVER.

p.s. You can't even have visitors. Do you really want to pay 2 thousand pounds times 70 for that? Just trying to make you realise how much money that is.

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100k

yea its a nice house, but def FTB territory and i'd expect someone on 25k to be upper end of Swindon wages wise.

I think you're way out on the salary estimate: £25k is what a graduate with 2 yrs experience can expect after 2 years at a large company - and there are lots of big companies in Swindon.

Cricklade is distinct from Swindon - it's a pretty market town on the banks of the Thames. Also, it's not a flat (as stated in another post), it's a house - and it does have many character features. Property with exposed beams is always priced higher, it appeals to those chasing the "Cotswold" dream. Having said that, I've never seen a 1 bed property anywhere in the area for £150k. I think £125k is too much too, though it's not far out of line with how similar properties are currently priced. I'd rent, and wait and see.

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That is very much a specialist property in that it won't appeal to the mass market. Because of it's character it will always be highly priced - but it only has one bedroom.

If we get the full monty HPC that property will be hard to sell - people will get 2 beds for the same money and at that end of the market - that means a room to rent out. The 'chocolate box' effect is always worth less in a tough market.

Found the comment about graduates with 2 years experience interesting. Read some statistic recently that said some high percentage of graduates have not even started repaying their student loans by the time they are 30.

One of my brother's lads at the ripe old age of 32 - with a degree - has started running a pub - after years in crappy commission based sales jobs.

Edited by Marina
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That is very much a specialist property in that it won't appeal to the mass market. Because of it's character it will always be highly priced - but it only has one bedroom.

If we get the full monty HPC that property will be hard to sell - people will get 2 beds for the same money and at that end of the market - that means a room to rent out. The 'chocolate box' effect is always worth less in a tough market.

Found the comment about graduates with 2 years experience interesting. Read some statistic recently that said some high percentage of graduates have not even started repaying their student loans by the time they are 30.

One of my brother's lads at the ripe old age of 32 - with a degree - has started running a pub - after years in crappy commission based sales jobs.

I totally agree with you about the house, Marina.

About graduate salaries...I agree that more and more grads have to take non-grad jobs, because there are many more gradates than there are graduate jobs. But those that manage to get in at a big firm where a degree is required are paid rather better - and £20k starting salary outside London is common.

Swindon has many good, large employers - Honda, Zurich, Motorola, Intel, Burmah Castrol, BT, Dolby, Lucent, Nationwide, WH Smith - so many people (though by no means all, of course) are on reasonable money.

Sorry, way off topic I know but you hit a 'pet' subject of mine :)

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Nice over priced house at the peak of the market...[One bedroom limited limited sellability] if you don't buy this you will buy something else on the first real drops in the coming correction, because your itching to own I can tell. But I'm telling you once corrections kick in it takes years to reverse trend. We have experianced the biggest housing bubble ever so DON'T FALL IN LOVE WITH HOUSES.[hard I know]

The wife fell in love with one 5 months ago, its still there, its a nice house, we are STR Are we tempted NOT NOW, will it sell maybe, I'm I bothered NO. There are and will be thousands of houses out there to buy when we are ready. In fact we are renting a more expensive house for less money than it would cost to buy the one she fell in love with [ if we needed a mortgage that is ...which we don't]

I'll be honest I put an offer in [for the wife] my top offer 5% off asking, builder turned me down.........I'm so so happy, because I look back and think jeez you can be a mug sometimes.

Edited by Catch22
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It's a lovely house but reselling would be a nightmare, as very few people would want one bedroom. Most couples and single people would want two so they could entertain friends and relatives. It's really only fit to be used as a holiday cottage.

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  • 441 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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