A bid

On Monday evening we looked at a house in need of serious cleaning and renovation.
Just sent in a bid of 250,000 SEK (which is not much compared to house prices where my sisters live). They asked for 350,000. The Google translate version of what I said is:

"Now we have finished with the budget, and I have enough money to both buy the house and do renovation without external financing. Therefore, I bid 250,000 and am ready to close the deal on this price this morning."

The downside is that the house is in a small town, with neighbours on all sides. Therefore, if we get it the plan is renovate and sell for enough to get what I really want: a place with enough land to hold SCA events. Doing a practice renovation before doing my house of dreams could be good.

Contemplating another bid

So, I am not really surprised to report that there are two more bidders for the house. Over the course of the day the other two have been raising the bids by 5,000 or 10,000 SEK (just a bit more than 500 to 1000 USD or a bit less than 500 to 1000 euros). A friend in Tassie reports that the asking price (350,000 SEK) is less than his friend paid for an electric car.

The bid is at 290,000 SEK just now, and I have been silent all day.

However, if I were to pay as much as asking price, and our high-end estimate on renovating cost is correct then I still have 100,000 extra in house savings to cover unexpected problems.

I had thought to not bid again if others are interested, but the whole "cheaper than a car" thing really got my attention. However, perhaps the take home message ought to be "new cars are super expensive" and not "so buy the house"? What do you guys think?