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How much to bid on this house?

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  • 18-06-2009 10:01pm
    #1
    mollypop
    Closed Accounts Posts: 70 ✭✭


    We're been househunting for about 1.5 yrs now are are about ready to make an offer on a house:
    http://www.daft.ie/searchsale.daft?id=358552

    It's come from 850 :eek: to 495 since Jan '08. At this point what do you guys think is a reasonable offer?

    The location's not great for us and I'm a little worried that they don't have an enery rating yet given its an old house so we want to avoid paying too much.

    I guess my question is would 425 be too cheeky given it's half the original asking price? :o


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    #2
    irlrobins
    Registered Users Posts: 7,541 ✭✭✭irlrobins


    Doesn't matter that's half the original price. The price they're looking for now is €495K. Now if the price has dropped as much as you say it has then they obviously want rid of it. Judging by the look of it, i say a builder did a job on it and needs to cover his costs at best.

    I think €400K would be a starting point, maybe even a cheeky offer of €350K.

    But if you've got worries about it, why bid at all? Keep looking until you see something that doesn't ring a few alarm bells with you.


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    #3
    SLUSK
    Closed Accounts Posts: 1,156 ✭✭✭SLUSK


    mollypop wrote: »
    We're been househunting for about 1.5 yrs now are are about ready to make an offer on a house:
    http://www.daft.ie/searchsale.daft?id=358552

    It's come from 850 :eek: to 495 since Jan '08. At this point what do you guys think is a reasonable offer?

    The location's not great for us and I'm a little worried that they don't have an enery rating yet given its an old house so we want to avoid paying too much.

    I guess my question is would 425 be too cheeky given it's half the original asking price? :o

    There might be some serious problems with this house... watch out! Who the hell would pay even 350k to live in Wexford?


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    #4
    Victor
    Registered Users Posts: 78,388 ✭✭✭✭Victor


    Its going to take 2 hours to ge to Dublin (the 1h39 below doesn't include congestion), so it only makes sense if you are going to work in the area. Petrol cost is for a small car.

    I wonder if any of the rooms have ceilings. :)

    http://www.viamichelin.com/viamichelin/int/dyn/controller/Itineraires?strStartLocid=31NDFxeDcxMGNOVEl1TlRBeE1UWT1jTFRZdU5UWTJPUT09&strDestLocid=31NDFxdTMxMGNOVE11TXpRME1EYz1jTFRZdU1qWTNOalU9strStartLocid=31NDFxeDcxMGNOVEl1TlRBeE1UWT1jTFRZdU5UWTJPUT09&strDestLocid=31NDFxdTMxMGNOVE11TXpRME1EYz1jTFRZdU1qWTNOalU9&empriseW=315&empriseH=275&intItineraryType=1&caravaneHidden=false&vh=CAR&distance=km&strVehicle=0&devise=1.0|EUR&carbCost=1.3&isAvoidFrontiers=false&isFavoriseAutoroute=false&isAvoidPeage=false&isAvoidVignette=false&isAvoidLNR=false&autoConso=6.8&villeConso=6&routeConso=5.6&dtmDeparture=19%2F6%2F2009&indemnite=0&itineraryCarType=0&itineraryFuelType=0

    Costs 9.40 EUR
    Toll 0.00 EUR | Petrol 9.40 EUR | Road tax EUR
    Time 01h39 which 00h02 on motorways
    Distance 118 km which 3.5 km on motorways


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    #5
    seamus
    Registered Users Posts: 68,317 ✭✭✭✭seamus


    You've seen the house and the grounds right?

    Come up with a generous estimate of how much it will cost to refurb and deduct that from €450k, and you have your offer. IMO.


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    #6
    Shambo
    Closed Accounts Posts: 44 ✭Shambo


    mollypop wrote: »
    We're been househunting for about 1.5 yrs now are are about ready to make an offer on a house:
    http://www.daft.ie/searchsale.daft?id=358552

    It's come from 850 :eek: to 495 since Jan '08. At this point what do you guys think is a reasonable offer?

    The location's not great for us and I'm a little worried that they don't have an enery rating yet given its an old house so we want to avoid paying too much.

    I guess my question is would 425 be too cheeky given it's half the original asking price? :o

    If you have worries like this do not buy, this is the single biggest investment in your life (usually) and you do not want to mess it up- it is not as if houses are selling like hot cakes and you will not get another house.

    Chill out and keep looking until you find what you really want.

    Good luck.


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    #7
    Eglinton
    Closed Accounts Posts: 992 ✭✭✭Eglinton


    mollypop wrote: »

    The location's not great for us......


    Then why are you interested in it???


    It's a nice looking house - probably bought dirt cheap or inherited. It's well renovated. Good size garden. Great for a family. But why oh why would you buy one if it doesn't suit location wise. Some people have mentioned the commute to Dublin. However you don't mention whether you're actually doing this or not so it's hard to comment. (If you are commuting this far though, you'd be nuts to buy it).

    At the end of the day there are lots of nice houses in Wexford with large gardens. 495K is an outrageous amount for a regular house in the location (unless you can very easily afford it).

    Don't buy if you're not sure.


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    #8
    MG
    Closed Accounts Posts: 823 ✭✭✭MG


    How much would this property rent for? (Might be difficult to estimate on this property)

    What is the sq meterage?


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    #9
    TheInquisitor
    Closed Accounts Posts: 1,530 ✭✭✭TheInquisitor


    mollypop wrote: »
    We're been househunting for about 1.5 yrs now are are about ready to make an offer on a house:
    http://www.daft.ie/searchsale.daft?id=358552

    It's come from 850 :eek: to 495 since Jan '08. At this point what do you guys think is a reasonable offer?

    The location's not great for us and I'm a little worried that they don't have an enery rating yet given its an old house so we want to avoid paying too much.

    I guess my question is would 425 be too cheeky given it's half the original asking price? :o

    Picture 13 , is that an aga cooker? Location is everthing for a house, if the location doesn't suit don't even think about buying. For this house from the pictures it looks recently refurbished and very nice, id go in around 350k see what happens. If they've lowered the price that much already maybe they'll go lower. I'd say they might be a bit desperate if its been on the market for so long


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    #10
    Sleipnir
    Registered Users Posts: 5,514 ✭✭✭Sleipnir


    I hate to say it but "Location, location, location". If the location really doesn't suit you then think carefully about why you are actually considering buying it?
    Just because the price has dropped so much?


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    #11
    jhegarty
    Registered Users Posts: 6,440 ✭✭✭jhegarty


    Looks like a great house , price seems good.

    But if you don't want to live in that location then who the hell cares.


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    #12
    mollypop
    Closed Accounts Posts: 70 ✭✭mollypop


    We went to see it again over the weekend. Anyone looking for a house in Wex will tell you there are a lot of ugly houses in Wexford, so I was really keen on this just because it was actually nice and had a bit of charm which is hard to find. I was willing to sacrifice location for charm.

    Talking to the EA though, its a no-go. The guy rejected an offer of 475 on it in March. The EA said that the guys not taking offers less than 500 cause that's what he owes on it. He'll never get it, even the EA agrees on that. If its still around in a year and the guys wised up I'll look at it again. Wouldn’t go over 400 after second viewing. The finish isn't as nice as it looks in the pics.


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