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What to offer?

  • 07-12-2011 9:23am
    #1
    Registered Users, Registered Users 2 Posts: 508
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    I am a first time buyer and have been keeping an eye on a house near me. It has been up on the market for a good few months now and the price has dropped twice. The current asking value is 199,000 and I think the original asking price was in around 245,000. The house in question is in need of quite a good bit of work but my question is what would be a reasonable offer to make?


Comments

  • Registered Users, Registered Users 2 Posts: 532 zac8
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    Impossible to answer this unless you post a link to the property.


  • Registered Users, Registered Users 2 Posts: 34,685 NIMAN
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    150k?

    As zac8 says, depends on the property and the amount of work that needs done.

    Ignore the original asking price. This was probably a boom price. They are ancient history now.


  • Registered Users, Registered Users 2 Posts: 508 Dubdude
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  • Closed Accounts Posts: 16,096 the groutch
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    €199k is still an absolute joke, with the sheer volume of renovation work involved I wouldnt pay a penny over €120k


  • Registered Users, Registered Users 2 Posts: 5,165 stargazer 68
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    There is a 3 bed near me for sale and its in tip top condition. En suite, wooden floors, new kitchen etc and its going for 200k so there is no way I would even think of paying that for your one op.


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  • Registered Users, Registered Users 2 Posts: 532 zac8
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    Dubdude wrote: »

    That first appeared on the market in May 2011 at 300k and has been dropping since - www.irishhousehunter.com.

    Seller was clearly chancing their arm and now trying to adjust to a more realistic price. Still some way off though.

    Have a look at installing this plugin for daft.ie which will show you a history of price changes while you're browsing properties - property bee. This is invaluable for any buyer.


  • Registered Users, Registered Users 2 Posts: 8,513 Ray Palmer
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    Too much work to be done in that property for it to be worth that. You will be able to pick up something similar with a lot less work. THis is around the corner and less work.

    http://www.myhome.ie/residential/brochure/1-clarence-mangan-road-the-tenters-south-circular-road-dublin-8/1255695

    Price seems to be relatively reasonable


  • Registered Users, Registered Users 2 Posts: 3,765 Diddler1977
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    I'd start with a bid of about 100,000 and wouldn't pay anything more then 115,000.


  • Registered Users, Registered Users 2 Posts: 508 Dubdude
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    Ray Palmer wrote: »
    Too much work to be done in that property for it to be worth that. You will be able to pick up something similar with a lot less work. THis is around the corner and less work.

    http://www.myhome.ie/residential/brochure/1-clarence-mangan-road-the-tenters-south-circular-road-dublin-8/1255695

    Price seems to be relatively reasonable

    Ye but that is a lot smaller and only has a yard out the back with a little front garden, also just down the road is a girls secondary school which means you get groups going up and down the road in the morning at lunch and afternoon so it would be quite busy mon - fri. Plus the road it is on is very busy for on street parking which means its a battle to get parking outside your house.


  • Registered Users, Registered Users 2 Posts: 497 royaler83
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    It could take up to 100k to completely finish that house inside and out, bear that in mind when deciding what you'l pay


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  • Registered Users, Registered Users 2 Posts: 8,513 Ray Palmer
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    Dubdude wrote: »
    Ye but that is a lot smaller and only has a yard out the back with a little front garden, also just down the road is a girls secondary school which means you get groups going up and down the road in the morning at lunch and afternoon so it would be quite busy mon - fri. Plus the road it is on is very busy for on street parking which means its a battle to get parking outside your house.
    I don't think there is that much of a difference in size. The back garden in corner houses tend to be pretty small and looks v small in the sattelite picture. I take your word on the parking as I don't know the area that well.

    They both have benifits but the OP one needs a lot of work a 100K is probably a bit on the high side of estimations but it always depends on the quality and how much you do yourself.

    People are funny when they quote massively low prices I doubt they have ever bought a house or really ever paid attention to property prices.


  • Administrators Posts: 54,424 awec
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    Dubdude wrote: »
    Anyone who pays 199 grand for that is a mug.


  • Closed Accounts Posts: 5,064 Gurgle
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    As a general rule, if the street is named after a saint then the maximum offer is €0.
    There may be exceptions, this isn't one.


  • Registered Users, Registered Users 2 Posts: 508 Dubdude
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    awec wrote: »
    Anyone who pays 199 grand for that is a mug.

    Never said I was going to pay that and if you read the OP you will see that the question was what would be a reasonable offer.


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