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  1. #1
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    Default Fair offer for house

    So exciting times! We are officially buying our first home! We have narrowed it down to 3 houses. The house at the top of our list is advertised at $249,000. It needs the front and rear external stairs replaced and new roof straight up. Quote for the stairs alone is around the $15,000 mark. Given this, we are looking at putting an offer in but not sure how low to go. My uncle said a general rule of thumb is 10-15% off the asking price as a starting point.

    For those who are more experienced in the whole buying/selling area, any advice is much appreciated.

    ** There is no additional repairs needed (ie no water damage etc) due to the roof, this has already been looked in to and gotten the all clear**

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    Not majorly Experienced but when you say it needs it roof replaced does that include the trusses or just the sheeting/tiles ?

    I know here a price advertised means anything higher then the listed price esp if it’s a suburb that is sort after in a price point

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    Quote Originally Posted by babybeeno1 View Post
    Not majorly Experienced but when you say it needs it roof replaced does that include the trusses or just the sheeting/tiles ?

    I know here a price advertised means anything higher then the listed price esp if it’s a suburb that is sort after in a price point
    Just the sheeting.

    The market here is pretty good- as in, we would have no issue getting it for a lower price, it’s just knowing what’s a fair offer with everything taken into consideration. We’d probably be able to get at least $10k knocked off, possibly $15k. Just knowing what to offer as a starting point is a bit hard.

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    Default Fair offer for house

    If you can look up the last sold price go from there friends of mine are bidding this weekend for their forever home and their max is $1million they’ve added 10% of what it sold for a couple years ago and are going from that as it’s had nothing done to it. Are there any other sales in the last year from the same street that can also be a comparison if the houses are of similar age and style

    If you do say knock of 10% and make a formal offer ask the agent if you can counter offer if the owners refuse. I know some agents here won’t let you make more then 1 offer on a house

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    Quote Originally Posted by babybeeno1 View Post
    If you can look up the last sold price go from there friends of mine are bidding this weekend for their forever home and their max is $1million they’ve added 10% of what it sold for a couple years ago and are going from that as it’s had nothing done to it. Are there any other sales in the last year from the same street that can also be a comparison if the houses are of similar age and style

    If you do say knock of 10% and make a formal offer ask the agent if you can counter offer if the owners refuse. I know some agents here won’t let you make more then 1 offer on a house
    Thank you, that’s super helpful! I had a look at recent sales in the area (same beds, similar land size) and they’ve all gone for a lot more BUT they were also newly renovated (unlike the property we are looking at). Will suss out the sales history of the actual house and see what that says.

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    Default Fair offer for house

    Download this app or check out the website. Gives you property sale history and estimated price range for the property.

    IMG_5587.jpg

  7. The Following User Says Thank You to MLadyEm For This Useful Post:

    SheWarrior (12-02-2020)

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    Quote Originally Posted by MLadyEm View Post
    Download this app or check out the website. Gives you property sale history and estimated price range for the property.

    Attachment 103223
    Thanks! Had a look on the computer on the website and most of the houses in the area are estimated around the same price range, except the ones that have been renovated (they’re estimated between 350-475k). The area is expected to boom in the next 10-20 years due to some major developments happening close by so (according to my uncle who has bought and sold and still owns several properties in the area) we could easily make 2-3 times that eventually even if we left the place as is. IMG_0104.jpgAdjustments.jpg

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    Not sure if it’s helpful but a new colourbond roof would be about $8-$15/20k depending on the size. I got one done last year and it was $9k for a very small house (130m2). I recall getting one replaced (thankfully insurance paid!) a few years ago after it was damaged in a storm for a large house (350m2 total floor area, although the house was double story) and it was about $18k.

    Not sure if you could get that knocked off the asking price if the asking price is reasonable to start with but at least you’ll know what you’re up for.

    I can’t believe stairs are that expensive

    And good luck, very exciting

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    Quote Originally Posted by babyno1onboard View Post
    Not sure if it’s helpful but a new colourbond roof would be about $8-$15/20k depending on the size. I got one done last year and it was $9k for a very small house (130m2). I recall getting one replaced (thankfully insurance paid!) a few years ago after it was damaged in a storm for a large house (350m2 total floor area, although the house was double story) and it was about $18k.

    Not sure if you could get that knocked off the asking price if the asking price is reasonable to start with but at least you’ll know what you’re up for.

    I can’t believe stairs are that expensive

    And good luck, very exciting
    Thank you, that’s really helpful! It’s an old style butter box 3 bedroom house (high set). I’m not sure on actual floor area though. Given the asking price, I doubt we would get that much knocked off the price. I know, I just about choked when they told me the quote! Dh said we can do it ourselves if needed to save a bit of $ (he’s done stairs before and we have plenty of friends/family who can help too). It is making us reconsider the property though.

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    Quote Originally Posted by SheWarrior View Post
    Thank you, that’s really helpful! It’s an old style butter box 3 bedroom house (high set). I’m not sure on actual floor area though. Given the asking price, I doubt we would get that much knocked off the price. I know, I just about choked when they told me the quote! Dh said we can do it ourselves if needed to save a bit of $ (he’s done stairs before and we have plenty of friends/family who can help too). It is making us reconsider the property though.
    I think those types of houses would be around the 150-200m2 mark so maybe $12k ish for a roof?

    Yeah I’d do the stairs myself... that’s insane. Or see if there are prefab ones that you can install.


 

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