Seemingly trivial things that cheer you up

surrey_commuter

I am truly bemused by all this talk of over asking or not.

If I put my house on at £400k and you buy it for £450k what is the difference from my neighbour putting his on at £450k and you buying it for £450k, or the bloke the other side putting it on at £500k and you buying it for £450k?

If you look at enough sold prices there is a price per square metre, if your house is too big for the area you will get less, if your house is small for the area it will be higher.

shirley_basso

Basically this, although other variables also exist which impact £/sqft

rick_chasey

surrey_commuter said:

I am truly bemused by all this talk of over asking or not.

If I put my house on at £400k and you buy it for £450k what is the difference from my neighbour putting his on at £450k and you buying it for £450k, or the bloke the other side putting it on at £500k and you buying it for £450k?

.

Mainly for people who want to guess what their house is worth without putting it on the market.

Stevo_666

rjsterry said:

Seems to be a lot of gazumping about at the moment. Hope you get in their quick before someone tempts the vendor.

One condition of our offer was that they take it off the market, so hopefully we've minimised that risk. Fortunately they were not marketing in the usual way, so no Rightmove or Prime Location listings. Something to do with one of their kids having cerebral palsy and them not wanting loads of people trooping through. For that reason we'll also cut them a bit of slack on getting their move sorted (even though they have a place on the South Coast that is liveable/being done up).

Also our buyer is chain free and so are the sellers so fingers crossed we won't get bogged down as a lot of long chains can. Let's see what happens.

surrey_commuter

shirley_basso said:

Basically this, although other variables also exist which impact £/sqft

they do but on a very minor level

foreigners think we are mad marketing houses by number of bedrooms

elbowloh

shirley_basso said:

I guess it depends where.

Cambridge has really gone up due to pandemic and isnt set to slow and many companies are relocating here.

Anecdotally I've heard similar stories in Bristol.

In Cornwall, properties what weren't selling are now going for 15/20% over asking. I saw a story about a vendor in sennen who didn't want the filthy London holiday let money and sold for a much lower price to a local couple looking to get onto the properly ladder.

I think we were just lucky tbh. We viewed pretty much before anyone else and put an offer in the same day. The sellers didn't need to buy, as they were moving into their Scottish holiday home and retiring, so just wanted rid for a decent price, rather than best. According to the Rightmove estimate, it's gone up £60K since November based on local price increases.

Pross

rick_chasey said:

surrey_commuter said:

I am truly bemused by all this talk of over asking or not.

If I put my house on at £400k and you buy it for £450k what is the difference from my neighbour putting his on at £450k and you buying it for £450k, or the bloke the other side putting it on at £500k and you buying it for £450k?

.

Mainly for people who want to guess what their house is worth without putting it on the market.

Yep, that's my main interest. I'm at the point where my mortgage is roughly 50% of the prices I see for the other houses in the area (all on a 1970s single developer estate so very similar) which means I should now be able to remortgage at a more favourable rate.

shirley_basso

elbowloh said:

shirley_basso said:

I guess it depends where.

Cambridge has really gone up due to pandemic and isnt set to slow and many companies are relocating here.

Anecdotally I've heard similar stories in Bristol.

In Cornwall, properties what weren't selling are now going for 15/20% over asking. I saw a story about a vendor in sennen who didn't want the filthy London holiday let money and sold for a much lower price to a local couple looking to get onto the properly ladder.

I think we were just lucky tbh. We viewed pretty much before anyone else and put an offer in the same day. The sellers didn't need to buy, as they were moving into their Scottish holiday home and retiring, so just wanted rid for a decent price, rather than best. According to the Rightmove estimate, it's gone up £60K since November based on local price increases.

That is my dream. I lost 70k on my London flat in 6 years.

rjsterry

rick_chasey said:

Since everyone's a real estate expert here, is the addage that a new kitchen adds roughly 5% to the overall value still true?

Depends. Wickes or Bulthaup?

rick_chasey

rjsterry said:

rick_chasey said:

Since everyone's a real estate expert here, is the addage that a new kitchen adds roughly 5% to the overall value still true?

Depends. Wickes or Bulthaup?

Wren.

elbowloh

shirley_basso said:

elbowloh said:

shirley_basso said:

I guess it depends where.

Cambridge has really gone up due to pandemic and isnt set to slow and many companies are relocating here.

Anecdotally I've heard similar stories in Bristol.

In Cornwall, properties what weren't selling are now going for 15/20% over asking. I saw a story about a vendor in sennen who didn't want the filthy London holiday let money and sold for a much lower price to a local couple looking to get onto the properly ladder.

I think we were just lucky tbh. We viewed pretty much before anyone else and put an offer in the same day. The sellers didn't need to buy, as they were moving into their Scottish holiday home and retiring, so just wanted rid for a decent price, rather than best. According to the Rightmove estimate, it's gone up £60K since November based on local price increases.

That is my dream. I lost 70k on my London flat in 6 years.

On the flipside, when i sold my flat, i had 6 sales fall through over 3 years. The price that it went for was £90k less than the first offer i accepted.

Edit in bold

shirley_basso

More or less?! Key adjective missing here!!!!

Pross

rick_chasey said:

rjsterry said:

rick_chasey said:

Since everyone's a real estate expert here, is the addage that a new kitchen adds roughly 5% to the overall value still true?

Depends. Wickes or Bulthaup?

Wren.

I was really impressed with them. Daughter has just ordered from them too after originally intending on getting a Wickes flat pack.

rick_chasey

Pross said:

rick_chasey said:

rjsterry said:

rick_chasey said:

Since everyone's a real estate expert here, is the addage that a new kitchen adds roughly 5% to the overall value still true?

Depends. Wickes or Bulthaup?

Wren.

I was really impressed with them. Daughter has just ordered from them too after originally intending on getting a Wickes flat pack.

Glad to hear it. We have gone for nothing too out there with a view that no-one will immediately hate it (i.e. my blue & orange mid century mad designs have been shelved)

elbowloh

shirley_basso said:

More or less?! Key adjective missing here!!!!

Less

rjsterry

rick_chasey said:

rjsterry said:

rick_chasey said:

Since everyone's a real estate expert here, is the addage that a new kitchen adds roughly 5% to the overall value still true?

Depends. Wickes or Bulthaup?

Wren.

Not noticeably, but if the other similar houses have tatty old kitchens (and a lot do) it might make the buyer pick yours over the competition.

Pross

rick_chasey said:

Pross said:

rick_chasey said:

rjsterry said:

rick_chasey said:

Since everyone's a real estate expert here, is the addage that a new kitchen adds roughly 5% to the overall value still true?

Depends. Wickes or Bulthaup?

Wren.

I was really impressed with them. Daughter has just ordered from them too after originally intending on getting a Wickes flat pack.

Glad to hear it. We have gone for nothing too out there with a view that no-one will immediately hate it (i.e. my blue & orange mid century mad designs have been shelved)

Yeah we went for a fairly conservative cream traditional look with black worktops (albeit with sparkly bits). I don't understand people forking out thousands / tens of thousands on a kitchen that will be embarrassingly out of fashion in 5 years.

ballysmate

Pross said:

rick_chasey said:

Pross said:

rick_chasey said:

rjsterry said:

rick_chasey said:

Since everyone's a real estate expert here, is the addage that a new kitchen adds roughly 5% to the overall value still true?

Depends. Wickes or Bulthaup?

Wren.

I was really impressed with them. Daughter has just ordered from them too after originally intending on getting a Wickes flat pack.

Glad to hear it. We have gone for nothing too out there with a view that no-one will immediately hate it (i.e. my blue & orange mid century mad designs have been shelved)

Yeah we went for a fairly conservative cream traditional look with black worktops (albeit with sparkly bits). I don't understand people forking out thousands / tens of thousands on a kitchen that will be embarrassingly out of fashion in 5 years.

I suspect that is because you are a man.

pblakeney

ballysmate said:

Pross said:

rick_chasey said:

Pross said:

rick_chasey said:

rjsterry said:

rick_chasey said:

Since everyone's a real estate expert here, is the addage that a new kitchen adds roughly 5% to the overall value still true?

Depends. Wickes or Bulthaup?

Wren.

I was really impressed with them. Daughter has just ordered from them too after originally intending on getting a Wickes flat pack.

Glad to hear it. We have gone for nothing too out there with a view that no-one will immediately hate it (i.e. my blue & orange mid century mad designs have been shelved)

Yeah we went for a fairly conservative cream traditional look with black worktops (albeit with sparkly bits). I don't understand people forking out thousands / tens of thousands on a kitchen that will be embarrassingly out of fashion in 5 years.

I suspect that is because you are a man.

This.
Most men would be happy to keep their entire houses as they are* for decades.

*Assuming they like how they currently are.

briantrumpet

pblakeney said:

ballysmate said:

Pross said:

rick_chasey said:

Pross said:

rick_chasey said:

rjsterry said:

rick_chasey said:

Since everyone's a real estate expert here, is the addage that a new kitchen adds roughly 5% to the overall value still true?

Depends. Wickes or Bulthaup?

Wren.

I was really impressed with them. Daughter has just ordered from them too after originally intending on getting a Wickes flat pack.

Glad to hear it. We have gone for nothing too out there with a view that no-one will immediately hate it (i.e. my blue & orange mid century mad designs have been shelved)

Yeah we went for a fairly conservative cream traditional look with black worktops (albeit with sparkly bits). I don't understand people forking out thousands / tens of thousands on a kitchen that will be embarrassingly out of fashion in 5 years.

I suspect that is because you are a man.

This.
Most men would be happy to keep their entire houses as they are* for decades.

*Assuming they like how they currently are.

I have.

rick_chasey

rjsterry said:

rick_chasey said:

rjsterry said:

rick_chasey said:

Since everyone's a real estate expert here, is the addage that a new kitchen adds roughly 5% to the overall value still true?

Depends. Wickes or Bulthaup?

Wren.

Not noticeably, but if the other similar houses have tatty old kitchens (and a lot do) it might make the buyer pick yours over the competition.

Fair enough. Plenty around here seem to. The current one is falling apart, literally, so we don't have much of a choice.

rjsterry

ballysmate said:

Pross said:

rick_chasey said:

Pross said:

rick_chasey said:

rjsterry said:

rick_chasey said:

Since everyone's a real estate expert here, is the addage that a new kitchen adds roughly 5% to the overall value still true?

Depends. Wickes or Bulthaup?

Wren.

I was really impressed with them. Daughter has just ordered from them too after originally intending on getting a Wickes flat pack.

Glad to hear it. We have gone for nothing too out there with a view that no-one will immediately hate it (i.e. my blue & orange mid century mad designs have been shelved)

Yeah we went for a fairly conservative cream traditional look with black worktops (albeit with sparkly bits). I don't understand people forking out thousands / tens of thousands on a kitchen that will be embarrassingly out of fashion in 5 years.

I suspect that is because you are a man.

You'd be surprised. One particular project, I think the Wolf range was about £10k. The bespoke hood to provide commercial grade extraction (built into a chimney breast in a listed property) was another £14k. This on top of a ~£60k Italian kitchen. All chosen and specified by him.

rjsterry

rick_chasey said:

rjsterry said:

rick_chasey said:

rjsterry said:

rick_chasey said:

Since everyone's a real estate expert here, is the addage that a new kitchen adds roughly 5% to the overall value still true?

Depends. Wickes or Bulthaup?

Wren.

Not noticeably, but if the other similar houses have tatty old kitchens (and a lot do) it might make the buyer pick yours over the competition.

Fair enough. Plenty around here seem to. The current one is falling apart, literally, so we don't have much of a choice.

The relative balance of kitchen cost to house price is probably a bit different in your neck of the woods and if you are planning to be there for >5years I would buy for you rather than the next owner. You just don't want to give them an excuse to knock something off the price.

TheBigBean

You can save quite a bit of money on a kitchen if you use DIY Kitchens. It does mean you need to order the right bits, but this is possible after a bit of research. You can then pay someone else to fit it.

Pross

TheBigBean said:

You can save quite a bit of money on a kitchen if you use DIY Kitchens. It does mean you need to order the right bits, but this is possible after a bit of research. You can then pay someone else to fit it.

That's where Wren are good. Their units are ready assembled and they check all the measurements but someone with half decent DIY skills can fit it themselves.

rick_chasey

So the kitchen I am replacing is obviously DIY and that is why it is not only falling apart but unrepairable.

orraloon

Completing my usual morning with the coffee wake up the brain Sudoku puzzle in strict numerical sequence, i.e. all the 1s, then all the 2s et al. Ok, it was an easy one but still, have never done that before. Positive omen for a sunny day.

pangolin

rick_chasey said:

So the kitchen I am replacing is obviously DIY and that is why it is not only falling apart but unrepairable.

I DIY'd ours. Perfectly doable if you're that way inclined. Kids do make it tougher though.

veronese68

pangolin said:

rick_chasey said:

So the kitchen I am replacing is obviously DIY and that is why it is not only falling apart but unrepairable.

I DIY'd ours. Perfectly doable if you're that way inclined. Kids do make it tougher though.

Same here, it's really not difficult. Going to rejig ours in the not too distant. Worktops are the only thing that might need a specialist depending on what material we go for.

rick_chasey

pangolin said:

rick_chasey said:

So the kitchen I am replacing is obviously DIY and that is why it is not only falling apart but unrepairable.

I DIY'd ours. Perfectly doable if you're that way inclined. Kids do make it tougher though.

Absolutely not that way inclined.

I intend to hand over money, live somewhere else for a week and return to a new kitchen.