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OzzMosiz

Price Per Square Foot

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Approximately £265 per Square foot (excluding bathroom) - is this reasonable?

Just looking at a 2 bed semi in Swindon which I quite like the look of on the net.

Of course if I took a viewing and liked I'd offer 20% less than asking.

Just curious what people think about price per square foot.

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Dr Bubb should be able to help here.

i would like to know what a reasonable price is as well.

Is that price including only space within the domain of the house or including garden and outside space as well??

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Dr Bubb should be able to help here.

i would like to know what a reasonable price is as well.

Is that price including only space within the domain of the house or including garden and outside space as well??

The price is £128950, of course I'd only offer £110000 and slap down around 18% deposit. To make a 90K mortgage, and have it tied down for 5 years at 4.54% over 15 years. When the rate ends, have 10 years left on the mortgage, and if IR's are dire, lengthen the term to suit repayment needs if necessary.

Of course, this is theoretical thinking at the moment. The house does indeed exist though.

Edited by OzzMosiz

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Approximately £265 per Square foot (excluding bathroom) - is this reasonable?

Just looking at a 2 bed semi in Swindon which I quite like the look of on the net.

Of course if I took a viewing and liked I'd offer 20% less than asking.

Just curious what people think about price per square foot.

I don't really understand this price per square foot arguement.

Does this mean that the underlying value of a place in Notting Hill is the same as the underlying value of a place in Tottenham? This is the one area where I would be prepared to bet on a stable location based cost effect - all areas have stable values per square foot that interact with others only through degrees of separation and similarity and alter over generational time spans but not through short-term effects without a major development drive (Notting Hill is the perfect example) - even that it might be possible to work out a rationale matrix of variables that contribute.

Can someone explain why this might not be so?

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They tend to the price per square foot when it suits them.

Based on this theory how the hell did a garage for 1 large and 1 small car sell for £240,000???

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Actually, an online map service would be a pretty good business start up, next upswing.  So maybe it exists already.

Hey Business opportunity. Can't afford a home? Just build a homepage instead. Boom boom! (Sad)

Edited by Elizabeth

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This is really good advice.

When I was househunting, I kept all the property details, and worked out the price per square metre.(Most EA's can give you the area)

I started graphing these using Excel, very quickly you begin to see which places are bargains.

The place I bought was a major dip in the graph, it looked ridiculously undervalued.

And it was...

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This is really good advice.

When I was househunting, I kept all the property details, and worked out the price per square metre.(Most EA's can give you the area)

I started graphing these using Excel, very quickly you begin to see which places are bargains.

The place I bought was a major dip in the graph, it looked ridiculously undervalued.

And it was...

However, here in Australia (and also I believe in the US) where suburban blocks tend to be bigger than in the UK, builders are getting good at minimising the dollars/sqm.

In general, a lot more 'open-plan' style areas (justified by using the 'flow' argument) and usually a much bigger house so that they can employ economies of scale.

The median new house (as distinct from apartment or flat) in Sydney has grown from 186 sqm to 260 sqm of living space in the last 15 years. In imperial measurements that's about 2000 sqare feet to 2900 square feet, and there's usually a double garage under the roof as well. In UK currency a house of this size would cost about 120,000 pounds to build in the suburbs of a large city, plus the cost of the land.

Times have changed since my parents, myself and 3 brothers lived in 1000 square feet in the early 70's.

Edited by ajh

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  • 301 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% +
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      • Even
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      • up 5%



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