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profitofdoom

Just Bought

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I needed a shack as I am currently in the process of applying for planning for a new build.I went to rent and they wanted about £400 fees for references etc.

I saw a 3 bed semi detached up for £129,950 advertised as chain free. It's neat and tidy throughout but the occupant has gone into care.I bid £110k and they said could I go to 112,we met in the middle at £111k.Needs an updated bathroom (damask suite) but thats all really.I had the cash sitting in the bank earning 2.75% and would have to pay £600 per month to rent.

My feeling is that a 15% discount off an already sensible asking price makes it a reasonable move as it will save me £8k over a year for a loss of £k interest.

Edited by profitofdoom

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Congrats POD.

There is likely to be a tirade of negativity but, I think if you can get a mortgage cheaper than what your rent would be AND a significant discount then the decision makes sense. Hindsight may look a little different but, nobody has the benefit of hindsight.

Where I live, I've managed to negotiate 25% off a 3-bed terraced and awaiting the survey. Not home and dry yet but, I feel at this moment in time, it's value for money.

Good luck and ENJOY!

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I needed a shack as I am currently in the process of applying for planning for a new build.I went to rent and they wanted about £400 fees for references etc.

I saw a 3 bed semi detached up for £129,950 advertised as chain free. It's neat and tidy throughout but the occupant has gone into care.I bid £110k and they said could I go to 112,we met in the middle at £111k.Needs an updated bathroom (damask suite) but thats all really.I had the cash sitting in the bank earning 2.75% and would have to pay £600 per month to rent.

My feeling is that a 15% discount off an already sensible asking price makes it a reasonable move as it will save me £8k over a year for a loss of £k interest.

fair play, good on you.

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  • 311 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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