House Sale

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Bfcboyo
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House Sale

Post by Bfcboyo » Tue Nov 10, 2020 10:04 am

Been trying to sell my property for 4 years now. Just can't seem to shift it. Had it up at 170k , maybe have to lower it to 160k. Any advice I've had it since 2005 , been trying to shift it since 2016 now.
Oh well, if it doesn't sell soon I may just torch it.

EqualRightsClaret
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Re: House Sale

Post by EqualRightsClaret » Tue Nov 10, 2020 10:07 am

I'm in same boat , I'll get the gasoline mate. And get uncle Shaun out to help.

Quickenthetempo
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Re: House Sale

Post by Quickenthetempo » Tue Nov 10, 2020 10:07 am

Ring Dion Dublin

Or change estate agent
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dushanbe
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Re: House Sale

Post by dushanbe » Tue Nov 10, 2020 10:16 am

Not rocket science really, its too expensive.
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pompeyclaret
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Re: House Sale

Post by pompeyclaret » Tue Nov 10, 2020 10:24 am

I have a flat I have had on the market since December 2018. I am on my 5th buyer, price agreed end of July (£190k), and told would complete end of Sept, still dragging on and now hoping it will be done by Xmas.

First buyer just disappeared, another had a survey done and devalued property by 25% due to ridiculous things, like a minor leak (cost to repair £500) and some kitchen cupboards not aligned correctly. One pulled out due to their parents wanting them to buy a house, and the last due to Covid. All cost me time, while the property is empty, cost me a small fortune.

I repainted and carpeted the flat to get the final seller, both at minimal cost, but gained more viewings and ultimately a buyer. Also some nice air fresheners, nothing worse than somewhere smelling stale. Not sure estate agents will make a huge difference, as most people look online, however they all charge differently, so ensure you're getting the best value.

Worst case is renting it out not an option?

Property sales are just a pain. Patience is key.
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cricketfieldclarets
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Re: House Sale

Post by cricketfieldclarets » Tue Nov 10, 2020 10:32 am

Good agent and especially good pictures are key. As is how the house is presented when viewed.

The buyer needs to picture themselves living there. If that means redecorating, make it lighter and more open. Etc. These things make a difference.

Amazes me though how many estate agents put properties up with the place looking tired or cluttered and especially with poor images. Get professionals in 8-)

Top Claret
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Re: House Sale

Post by Top Claret » Tue Nov 10, 2020 10:33 am

It is obviously way over priced. Knock 20 grand off and it should do the trick

TVC15
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Re: House Sale

Post by TVC15 » Tue Nov 10, 2020 10:41 am

Without more detail hard to tell why it’s not selling - other than the obvious that it must be overpriced. By how much who knows ?
Maybe spend some on decorating it with neutral colours - white....if you haven’t already.
Declutter it - remove furniture, paintings etc - better to give prospective buyers a blank canvas and see how much space there is.
Basically the lighter and brighter it is the better.

Change your estate agents ? - they should be doing more to advise you.
Reduce the price by what the estate agents advise you or a smaller amount initially if you are not comfortable with a big reduction. If you drop the price it appears as a new listing on Right Move which can often help (has to be by a minimum percentage)

Right now the property market is very buoyant in many areas so if you are not getting viewings now then it sounds like you need to drop the price and possibly do some of the above

WadingInDeeper
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Re: House Sale

Post by WadingInDeeper » Tue Nov 10, 2020 10:46 am

pompeyclaret wrote:
Tue Nov 10, 2020 10:24 am

First buyer just disappeared, another had a survey done and devalued property by 25% due to ridiculous things
I had that with one house, wanted money knocking off for silly little things following a survey. We told the estate agent we weren't interested in selling to them and to move on to the next buyer. Their survey showed nothing and they bought it at the asking price.

UnderSeige
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Re: House Sale

Post by UnderSeige » Tue Nov 10, 2020 11:15 am

Bfcboyo wrote:
Tue Nov 10, 2020 10:04 am
Been trying to sell my property for 4 years now. Just can't seem to shift it. Had it up at 170k , maybe have to lower it to 160k. Any advice I've had it since 2005 , been trying to shift it since 2016 now.
Oh well, if it doesn't sell soon I may just torch it.
I think that there is a general principle that if you are not getting many viewings the price is too high. But if you are getting viewings and no further progress something needs to be done to make the property more attractive. Also, in normal times, the property market starts to slow down in the second part of November and then picks up again at the end of February.

I sold a house a few years ago at the end of February. I asked the estate agent to tell me the price that would bring a quick sale. I then priced it slightly below that price. It sold on the first day. The local estate agent had a number of 'potential buyers' on their books. As soon as they smelled a quick sale they contacted their buyers and I ended up with two of them making offers and bidding against one another. The house then sold above the 'asking price'.

There was a good CH4 series about selling houses at the time that I used to help me prepare the house. It was called 'Phil Spencer Secret Agent'. It was basically a property expert advising people who had been trying to sell their property for ages. You might be able to locate some copies on one of the websites that show video clips.

Best of luck.

Phil Spencer's Selling Tips
https://www.thebalance.com/top-10-ways- ... se-1798707

Things that put buyers off
https://www.thebalance.com/top-10-ways- ... se-1798707

claretlegend
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Re: House Sale

Post by claretlegend » Tue Nov 10, 2020 11:25 am

I've just accepted an offer on our house after 2 days of being listed. I used Hilton & Horsfall based in Barrowford. Their pictures are the best I've seen and it definitely seems to help.

AndyClaret
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Re: House Sale

Post by AndyClaret » Tue Nov 10, 2020 11:29 am

Nice pictures might get people through the door, but they won't sell your house.

bfcjg
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Re: House Sale

Post by bfcjg » Tue Nov 10, 2020 11:47 am

Where is the house, what sort is it, what are the adjoining houses like, are their comparable for the area to give you a steer ?

TVC15
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Re: House Sale

Post by TVC15 » Tue Nov 10, 2020 11:47 am

AndyClaret wrote:
Tue Nov 10, 2020 11:29 am
Nice pictures might get people through the door, but they won't sell your house.
Yep those daft angles to make rooms appear a lot bigger are annoying....especially if it’s in one of those key rooms like the kitchen. Went to see a house in Fence a couple of weeks ago and the kitchen was far smaller than it looked on the pictures and there wasn’t any room dimensions on the advert. Yes it got us through the door but as soon as we saw the kitchen it was time to leave !

claretonthecoast1882
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Re: House Sale

Post by claretonthecoast1882 » Tue Nov 10, 2020 11:47 am

What are your neighbours like

Billy Balfour
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Re: House Sale

Post by Billy Balfour » Tue Nov 10, 2020 12:17 pm

Hey, leave me out of it. I've told him time and again that the rotting smell coming from the back garden will go away, eventually.
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Top Claret
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Re: House Sale

Post by Top Claret » Tue Nov 10, 2020 12:25 pm

You have to be careful with estate agents they mostly under value properties, not the most honest and probably the most dishonest of all professions

ChrisG
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Re: House Sale

Post by ChrisG » Tue Nov 10, 2020 12:32 pm

Top Claret wrote:
Tue Nov 10, 2020 12:25 pm
You have to be careful with estate agents they mostly under value properties, not the most honest and probably the most dishonest of all professions
I suspect it's the opposite in order to encourage a higher fee given most are on a %. At the end of the day, a house is worth what someone is willing to pay for it, not what the vendor thinks it is worth. Obviously, the price someone is willing to pay might not be what the vendor can afford to sell at if they are in negative equity.

dsr
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Re: House Sale

Post by dsr » Tue Nov 10, 2020 12:35 pm

Billy Balfour wrote:
Tue Nov 10, 2020 12:17 pm
Hey, leave me out of it. I've told him time and again that the rotting smell coming from the back garden will go away, eventually.
By the way, how is Mrs. Balfour? I haven't seen her for a while. ;)

Billy Balfour
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Re: House Sale

Post by Billy Balfour » Tue Nov 10, 2020 12:45 pm

Heh.

ClaretMov
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Re: House Sale

Post by ClaretMov » Tue Nov 10, 2020 2:42 pm

Bfcboyo wrote:
Tue Nov 10, 2020 10:04 am
Been trying to sell my property for 4 years now. Just can't seem to shift it. Had it up at 170k , maybe have to lower it to 160k. Any advice I've had it since 2005 , been trying to shift it since 2016 now.
Oh well, if it doesn't sell soon I may just torch it.
I think 170k is a little high...you might need to drop the price :lol:
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cricketfieldclarets
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Re: House Sale

Post by cricketfieldclarets » Tue Nov 10, 2020 2:50 pm

claretlegend wrote:
Tue Nov 10, 2020 11:25 am
I've just accepted an offer on our house after 2 days of being listed. I used Hilton & Horsfall based in Barrowford. Their pictures are the best I've seen and it definitely seems to help.
Yes they are one I thought of. Think Keenans are similar.

Most of the others just get the agent to take the picture.

cricketfieldclarets
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Re: House Sale

Post by cricketfieldclarets » Tue Nov 10, 2020 2:51 pm

TVC15 wrote:
Tue Nov 10, 2020 11:47 am
Yep those daft angles to make rooms appear a lot bigger are annoying....especially if it’s in one of those key rooms like the kitchen. Went to see a house in Fence a couple of weeks ago and the kitchen was far smaller than it looked on the pictures and there wasn’t any room dimensions on the advert. Yes it got us through the door but as soon as we saw the kitchen it was time to leave !
But they are bad pictures too. You need pictures that get people through the door but are also realistic.

JohnMac
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Re: House Sale

Post by JohnMac » Tue Nov 10, 2020 2:56 pm

ClaretMov wrote:
Tue Nov 10, 2020 2:42 pm
I think 170k is a little high...you might need to drop the price :lol:
If it was within the M25 that's £250k on Homes Under the Hammer :lol:

bfccrazy
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Re: House Sale

Post by bfccrazy » Tue Nov 10, 2020 3:11 pm

claretlegend wrote:
Tue Nov 10, 2020 11:25 am
I've just accepted an offer on our house after 2 days of being listed. I used Hilton & Horsfall based in Barrowford. Their pictures are the best I've seen and it definitely seems to help.
My sister used Mark at H&H as he’s an old friend of mine.

They turned up at 9am to take pics and get details.
Gave her a call at midday to see if someone could have a viewing at 1pm.

Got an offer at asking price at around 2pm.

:lol:

Probably the smoothest, most efficient and best estate agents I’ve ever used/seen used.

bfccrazy
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Re: House Sale

Post by bfccrazy » Tue Nov 10, 2020 3:13 pm

On the flip side - Bought a house around a year ago where the estate agent got a little irked because we didn’t want them leaving the key hidden because they were “passing the house soon so it would make it easier than having to go back to the office” :lol:

Ptgclaret
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Re: House Sale

Post by Ptgclaret » Tue Nov 10, 2020 3:30 pm

If you haven't sold your house after 4 years for the price you want, I'd guess that the price is unrealistic for that property.

ChrisG
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Re: House Sale

Post by ChrisG » Tue Nov 10, 2020 3:41 pm

Come on Bfcboyo, everyone is sat here waiting in anticipation for the Rightmove link so we can have a nosey
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basil6345789
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Re: House Sale

Post by basil6345789 » Tue Nov 10, 2020 3:47 pm

bfccrazy wrote:
Tue Nov 10, 2020 3:11 pm
My sister used Mark at H&H as he’s an old friend of mine.

They turned up at 9am to take pics and get details.
Gave her a call at midday to see if someone could have a viewing at 1pm.

Got an offer at asking price at around 2pm.

:lol:

Probably the smoothest, most efficient and best estate agents I’ve ever used/seen used.
Unless in a crap area house prices have gone crazily upwards - it's expected to re-adjust back downwards next year. Just stick a sign out front and it'll sell in no time - no need for agents.

bfccrazy
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Re: House Sale

Post by bfccrazy » Tue Nov 10, 2020 3:49 pm

basil6345789 wrote:
Tue Nov 10, 2020 3:47 pm
Unless in a crap area house prices have gone crazily upwards - it's expected to re-adjust back downwards next year. Just stick a sign out front and it'll sell in no time - no need for agents.
A lot of people who bought new builds are finding it’s the opposite though, value on houses have gone down and now they’re stuck trying to claw back what they lie for it 5/10 years ago.

claretandy
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Re: House Sale

Post by claretandy » Tue Nov 10, 2020 4:09 pm

bfccrazy wrote:
Tue Nov 10, 2020 3:49 pm
A lot of people who bought new builds are finding it’s the opposite though, value on houses have gone down and now they’re stuck trying to claw back what they lie for it 5/10 years ago.
New builds are like new cars, overpriced, and lose 20% of their value as soon as they're not new.

claretandy
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Re: House Sale

Post by claretandy » Tue Nov 10, 2020 4:10 pm

basil6345789 wrote:
Tue Nov 10, 2020 3:47 pm
Unless in a crap area house prices have gone crazily upwards - it's expected to re-adjust back downwards next year. Just stick a sign out front and it'll sell in no time - no need for agents.
Agree with this, sold my own house twice using my own board, no need for lying estate agents.

basil6345789
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Re: House Sale

Post by basil6345789 » Tue Nov 10, 2020 4:11 pm

bfccrazy wrote:
Tue Nov 10, 2020 3:49 pm
A lot of people who bought new builds are finding it’s the opposite though, value on houses have gone down and now they’re stuck trying to claw back what they lie for it 5/10 years ago.
Yes, that's on a different timescale though. I'm talking about in comparison with pre-lockdown prices. People are trying to "catch up" in the race and get moved before Stamp Duty gets reviewed.

AfloatinClaret
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Re: House Sale

Post by AfloatinClaret » Tue Nov 10, 2020 5:14 pm

UnderSeige wrote:
Tue Nov 10, 2020 11:15 am
...if you are not getting many viewings the price is too high. But if you are getting viewings and no further progress something needs to be done to make the property more attractive.
That.

Nonayforever
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Re: House Sale

Post by Nonayforever » Tue Nov 10, 2020 5:17 pm

JohnMac wrote:
Tue Nov 10, 2020 2:56 pm
If it was within the M25 that's £250k on Homes Under the Hammer :lol:
That, unfortunately, is true.
The area around Burnley is a declining market. My parents were expirencing the same problems.
My sister and I got them to massively reduce the price, it sold straight away. They bought a house down south.
The houses that are in their old neighborhood are still for sale at the original asking price. My parents house has gone up in value by £100,000 in the 3 yrs since they moved in.

wilks_bfc
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Re: House Sale

Post by wilks_bfc » Tue Nov 10, 2020 5:18 pm

I believe there’s an American looking to buy in the area

Bosscat
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Re: House Sale

Post by Bosscat » Tue Nov 10, 2020 5:21 pm

wilks_bfc wrote:
Tue Nov 10, 2020 5:18 pm
I believe there’s an American looking to buy in the area
And an Egyptian 😉

lesxdp
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Re: House Sale

Post by lesxdp » Tue Nov 10, 2020 5:27 pm

ChrisG wrote:
Tue Nov 10, 2020 12:32 pm
I suspect it's the opposite in order to encourage a higher fee given most are on a %. At the end of the day, a house is worth what someone is willing to pay for it, not what the vendor thinks it is worth. Obviously, the price someone is willing to pay might not be what the vendor can afford to sell at if they are in negative equity.
In my experience, and I have moved house about 10 times, the agent is more interested in a quick sale and on to the next property. They then get bragging rights against other agents for number of properties sold, and less time taken with enquiries and viewings. If you calculate their commission at say 3% the difference between £175000 and £160000 is only £450 commission but the vendor is out by £15000
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basil6345789
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Re: House Sale

Post by basil6345789 » Tue Nov 10, 2020 5:40 pm

Nonayforever wrote:
Tue Nov 10, 2020 5:17 pm
That, unfortunately, is true.
The area around Burnley is a declining market. My parents were expirencing the same problems.
My sister and I got them to massively reduce the price, it sold straight away. They bought a house down south.
The houses that are in their old neighborhood are still for sale at the original asking price. My parents house has gone up in value by £100,000 in the 3 yrs since they moved in.
Immoral, isn't it?

Nonayforever
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Re: House Sale

Post by Nonayforever » Tue Nov 10, 2020 5:44 pm

basil6345789 wrote:
Tue Nov 10, 2020 5:40 pm
Immoral, isn't it?
The gap is becoming wider. The nearer to London, the bigger the margin.
Houses around my parents sell within days, most of them above the asking price.

Quickenthetempo
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Re: House Sale

Post by Quickenthetempo » Tue Nov 10, 2020 7:04 pm

Nonayforever wrote:
Tue Nov 10, 2020 5:44 pm
The gap is becoming wider. The nearer to London, the bigger the margin.
Houses around my parents sell within days, most of them above the asking price.
They've been selling within days in Padiham and surrounding areas. I know the lads at Pendlehill properties and they are highly active on social media showing all the houses they have sold and begging for more in the area.

karatekid
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Re: House Sale

Post by karatekid » Tue Nov 10, 2020 7:19 pm

ClaretMov wrote:
Tue Nov 10, 2020 2:42 pm
I think 170k is a little high...you might need to drop the price :lol:

Looks like he torched it after all....

tim_noone
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Re: House Sale

Post by tim_noone » Tue Nov 10, 2020 9:33 pm

I've resided in sand banks for three years now...nothing selling at the minute I'm desperate to Leave... to many flash Harry's for me wanna be back in Burnley amongst r8 folk.
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Goobs
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Re: House Sale

Post by Goobs » Tue Nov 10, 2020 9:37 pm

Bosscat wrote:
Tue Nov 10, 2020 5:21 pm
And an Egyptian 😉
He can't afford one.
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clarethomer
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Re: House Sale

Post by clarethomer » Tue Nov 10, 2020 9:58 pm

I have bought and sold a few houses in my time. Lots of good info about presentation and ensuring the right price.

My recommendation would be to speak to the agent and to ask how many people have had your property on Rightmove come up in a search.

I would then ask how many have clicked through to view the details of your house.

If you are finding that say you have had your house come up in say 1000 searched but you have only had a handful of clicks to look at the detail, it could mean there is a problem with either the price or the pictures.

I did a quick search of houses for sale in Burnley on Rightmove which are priced at 170k. One of the results that came up was this property

https://www.rightmove.co.uk/properties/75128649#/

This is a 2 bed bungalow. I can't see too much wrong with the property. Yes decor may be a personal taste and probably of an era of the occupant which i would think most people would be able to look beyond.

I don't know the area well at all so I don't know if this is priced correctly but looking at the market information that rightmove provides

https://www.rightmove.co.uk/properties/ ... rbyForSale

I can see what is for sale nearby. You should know your area so should get a good feel if there are any comparables to see if your pricing is right.

What people often don't do is look at what has actually sold

https://www.rightmove.co.uk/properties/ ... nearbySold

You will see on there that there appears to have been another bungalow sold which was £45k cheaper and looks a similar size and floorspace etc.

There may be many reasons for the price difference but you can start to see what has sold. As people have said, the price you ask isn't always what its worth.

It may be worth doing a similar exercise with your house to see if there are any indications to see if your price is looking out of sync.

claretandy
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Re: House Sale

Post by claretandy » Wed Nov 11, 2020 5:53 am

Another top tip is to de-clutter your house, box up all the personal stuff, less is more, it will make the rooms seem bigger.

SammyBoy
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Re: House Sale

Post by SammyBoy » Wed Nov 11, 2020 2:26 pm

As a recent first time buyer I saw several properties that ticked most boxes but I was put off by the interior design. I get that it's all just a matter of personal taste and that's fine but some places had the walls painted either mad colours or covered in garish wallpaper, then you get into the kitchen and there's the old fashioned wood finish units etc.

I fairly often found myself in a situation where the asking price fit my budget, but then you factor in £5-10k completely renovating the place and the time/effort involved and I just didn't fancy it any more. I'm not claiming to be a massively cultured interior designer and having your own style is great, but I think when selling it's an advantage for the place to be as neutral as possible.

TheOriginalLongsider
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Re: House Sale

Post by TheOriginalLongsider » Wed Nov 11, 2020 7:18 pm

In my experience when people are looking for a house they will only look at houses listed over the last couple of months. It might be worth taking it off the market then putting it back on to get it back up the top of the listings

I’ve used online agents the last 2 times.

Obviously make sure your house is clean inside and out and clear away clutter and photos etc.

If it needs it give it a coat of paint. Won’t cost much !

TheOriginalLongsider
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Re: House Sale

Post by TheOriginalLongsider » Wed Nov 11, 2020 7:19 pm

In my experience when people are looking for a house they will only look at houses listed over the last couple of months. It might be worth taking it off the market then putting it back on to get it back up the top of the listings

I’ve used online agents the last 2 times.

Obviously make sure your house is clean inside and out and clear away clutter and photos etc.

If it needs it give it a coat of paint. Won’t cost much !

Ask friends to give an honest appraisal of what needs doing to the house.

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Re: House Sale

Post by Herts Clarets » Wed Nov 11, 2020 8:20 pm

SammyBoy wrote:
Wed Nov 11, 2020 2:26 pm
As a recent first time buyer I saw several properties that ticked most boxes but I was put off by the interior design. I get that it's all just a matter of personal taste and that's fine but some places had the walls painted either mad colours or covered in garish wallpaper, then you get into the kitchen and there's the old fashioned wood finish units etc.

I fairly often found myself in a situation where the asking price fit my budget, but then you factor in £5-10k completely renovating the place and the time/effort involved and I just didn't fancy it any more. I'm not claiming to be a massively cultured interior designer and having your own style is great, but I think when selling it's an advantage for the place to be as neutral as possible.
We bought our place 9 years ago. We looked at quite a few, some were ready to move into, relatively new and therefore quite small with little potential to expand. The house we eventually bought needed a fair amount of work doing, the lounge had yellow walls, green carpet, orange radiators and all the woodwork was black. Doors, skirting, 2 sets of stairs. The kitchen was very dated and small and the bathroom needed completely replacing. Both sets of parents asked why we bought it. The answer was for the money we paid the alternatives were too small, too get something the size of what we did get that was ready to go would have been out of our price range. But we had vision on what it could become.

We lived in it for a couple of years to get ideas of what really would work. We then knocked the wall down between the kitchen and dining room, levelled the floor and created a large open plan kitchen diner. We bricked up the door into the downstairs bathroom and knocked a door way through on a different wall. This allowed us to fit a shower cubicle and a large jacuzzi bath. We knocked the end wall down of my son's bedroom and extended it out onto a mezzanine floor that overlooks the lounge and turned the staircase 90 degrees to give more space. We also added a toilet next to his room so both bedrooms in this side of the house now have access to a toilet without having to come downstairs. Took out the old gas fire and installed a log burner and replaced all woodwork, doors, carpets etc. And replaced all windows and doors. It took a few years and additional cost but everything we have done has added value. I estimate the work cost us 40k in total. 9 years on the house would be valued around double what we paid for it, given recent sale prices around us.

Don't ever let decor that is not to your taste or the need to replace costly items put you off buying a house if you can get it for the right price.
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