Leicester estate agent Keywest are here to offer guidance and advice when you are looking to make an offer on a new property

You’ve found the property you want, visited on a couple of occasions and had your questions answered by the experts at Keywest, but now a new question rears its head: how much should I offer?

Your gut instinct may be to see how low you can go in a bid to secure a relative bargain in the end, but remember that a really low offer can mean the start of drawn-out negotiations which give other interested parties the chance to sneak in with a higher price. Even an on-the-money price can be risky if you know that interest is high and you have your heart set on sealing the deal.

Every vendor will expect a bit of haggling to take place, but sensible offers are the key to success. If in doubt, ask for advice from the Keywest team. However, by law, we’re not allowed to tell you how much other people have offered for the property in the past.

You also need to consider your finances when making your offer. Don’t be tempted to go in too high simply to secure the property. Living in a great property will soon lose its appeal if you can’t realistically afford it in the end.

Before making any offer, make sure you know how much you should be able to borrow, and ensure that you will be able to comfortably afford any repayments, even if circumstances should change. Buying a new home can be an exciting business, but it is important not to get too caught up in the thrill of the chase and put your finances and future at risk.

To calculate the sort of offer you should make, it is important to compare other properties in the area. Make a list of the attributes and dimensions of each one and compare them in terms of value for money and appeal.

Finding very similar properties that have sold for less in recent times can be a good bargaining tool, as can identifying necessary improvements or repairs. You can also cash in on a vendor’s motivation to sell and on the length of time the property has spent on the market without an offer being made.

It is worth remembering, however, that putting a property on the market can be an emotional time for many people, and so it may not be the best idea to take too much of a risk when an unintentional insult could make the difference between your moving into your dream home and staying where you are.

For more advice and guidance on buying property, call the property experts at Keywest, we would be delighted to help.