% over 'Value'

[kennyb3]

Say you find the right house in terms of location, orientation etc. (basically all the box ticks for you).

Now you've followed house prices, the PPR for a couple of years and think you know the value of a house.

From a strictly investment/objective point of view you would pay X for said house.

However the house has been bid over this and you need to bid X+Y% to secure.

What % would you personally consider 'overpaying' by to secure this family home, given there are no other such houses on the market at present and there may not be for 3 - 12 months for all you know.

Do you just walk away? Would you not have regrets?

What's a couple of % in the greater scheme of things if you want to live there for 30 yrs plus?

 

[Knuttell]

If for example the house was on at say €265 and the current bid was at €250 with perhaps a few interested parties and I really wanted to live there for the next 30 odd years...

I would go in with the full asking hoping to shock and awe the other potential buyers (with a caveat that its taken off the market immediately)

Would have replied to you on the Pin except I am banned..for Life

 

[kennyb3]

Thanks appreciate the input. Was thinking about going up to 105% of what i perceived vale, so around what you are suggesting.