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A house bought in 2007 for 320k is on the market now for 360k. What to offer?

Very few works have been done to it except interior repainting and some retiling in bathroom. Zoopla valued it at 298k before I added details of the estimated cost of the sprucing up. It is now valued at 317k which is a long way from the 360k. Any ideas why it is on for so much more and what we should offer for it? Its in Tunbridge Wells.

Asked on May 13 2010, House Prices in Tunbridge Wells | Report content

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  • Offer what you feel the property is worth to you, nobody wants to pay too much but at the same time a lot will depend on how long term view you are taking. If you plan to stay there for a while the purchase price will be irrelevant to a future sale price in 5, 10 or 15 years time. How cheap was the original purcahse price compared to others selling at that time, and how quick do the current owners want to sell. We are seeing some properties sell for a lot less than 2007 and some for a lot more. Remeber the opportunity to buy is now, when will be the next time who knows. Hope this helps.

    Answered on May 14 2010, Report content
  • In simple terms offer what you think it is worth to you. Values are not exact and trying to calculate it based on falls or rises in the market never work. If it is going to be your home and you want to live there pay what you can afford and no more and pay what you think it is worth to you to have it as your home. However I would be surprised if any property was worth more today than it was in 2007 unless it had been improved or extended.

    Answered on May 14 2010, Report content

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