Posted in Ordinarylife, Port Elizabeth

A buyers market?

I went to look at a house yesterday.  What a dive!  There is no way I think he will get anywhere near his asking price.  I don’t think his estate agent does either as she made a point of telling me that he was very negotiable and that I should put in an offer of what ever I thought, not matter what. 

Well I am tempted.  Just to see how low he will go.  For investment (renting out) purposes it could be quite a good buy but it would depend on how low you could get it for.  Obviously if you could cover your bond with the income received then it might be viable but as it is at the moment….Not a chance. 

Then the other thing is – do I actually want more tenants.  Whilst things are going well I tend to forget about all the crap I have had to deal with over the past couple of years.  It is great when they pay on time and don’t damage things, but then there is the other side.  Do I really want more of that stress?  

For now I think not.  In this case I think it will be a case of I went, I saw, I declined to offer.

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5 thoughts on “A buyers market?

  1. A lot of estate agents tell sellers that they can get a lot more for their houses that what they actually could just to get the mandate. I spent some time in the business and just couldn’t handle all the unethicalness going on.
    We rent out our granny flat and got an agent to do it. They take all the hassles of our hands and does everything.

  2. Emil – those are like hen’s teeth! I am now on agency number 4!
    Firefly – it is not a business I would like to be in! I do go through agencies for tenants as I don’t want the hassle. Unfortunately I have found that they are good whilst things are going good. As soon as things go slightly pearshaped they are useless.
    Hanlie – forsome reason even the agents phone me rather. My dad also lets out a place of his and his agents even phone me! URGH!!!

    Anyway – I have decided not to put in an offer. I will keep browsing as I am no rush to buy yet.

  3. It’s def a buyers market at the mo but keep looking – the right one will present itself at the right time (especially as you’re not in a rush).

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