What to offer?

Dubdude · 07-12-2011 10:23am #1

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?

zac8 · 07-12-2011 10:27am

Impossible to answer this unless you post a link to the property.

NIMAN · 07-12-2011 10:40am

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.

Dubdude · 07-12-2011 10:44am

Sorry guys, here is the property in question.

http://www.myhome.ie/residential/brochure/37-st-thomas-road-dublin-8/1389421

the groutch · 07-12-2011 10:55am

€199k is still an absolute joke, with the sheer volume of renovation work involved I wouldnt pay a penny over €120k

stargazer 68 · 07-12-2011 10:59am

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.

zac8 · 07-12-2011 11:09am

Dubdude wrote: »

Sorry guys, here is the property in question.

http://www.myhome.ie/residential/brochure/37-st-thomas-road-dublin-8/1389421

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.

Ray Palmer · 07-12-2011 11:18am

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

Diddler1977 · 07-12-2011 11:36am

I'd start with a bid of about 100,000 and wouldn't pay anything more then 115,000.

Dubdude · 07-12-2011 11:36am

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.

royaler83 · 07-12-2011 11:42am

It could take up to 100k to completely finish that house inside and out, bear that in mind when deciding what you'l pay

Ray Palmer · 07-12-2011 12:32pm

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.

awec · 07-12-2011 2:24pm

Dubdude wrote: »

Sorry guys, here is the property in question.

http://www.myhome.ie/residential/brochure/37-st-thomas-road-dublin-8/1389421

Anyone who pays 199 grand for that is a mug.

Gurgle · 07-12-2011 2:37pm

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.

Dubdude · 07-12-2011 2:48pm

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.

What to offer?

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