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is it a good time to sell?

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margi_g
margi_g Posts: 84 Forumite
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in House buying, renting & selling
I want to put my house on the market,but the empty house next door to me is also due to go on the market in the next two weeks .
The neighbouring house is nothing like mine.It has been empty for 17 years and is in a pretty bad state.My question is should I wait until this next door house is sold and hope someone does something to it before I put my house on the market,or should i go up in competition with it. I should say they are two completely different houses and probably wouldn't attract the same buyers anyway
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  • hazyjo
    hazyjo Posts: 15,470 Forumite
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    No right or wrong I'm afraid.


    I'd just market yours and say next door obviously needs a lot of work but is going on the market in the next couple of weeks.


    Are the houses attached? If it's detached, is there any chance someone might knock it down and build flats, or split it up into flats?


    At least a valuer of yours will see next door in its current state and not greatly improved (might impact on a later valuation of yours if next door is sold cheap).
    2023 wins: *must start comping again!*
  • Crashy_Time
    Crashy_Time Posts: 13,386 Forumite
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    Who keeps a house empty for 17 years, and why? I`m sure Mr. Corbyn will have a policy or two to sort out this type of thing!
  • wantonnoodle
    wantonnoodle Posts: 284 Forumite
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    I would suggest putting yours on the market now. If the one next door goes cheaply, then you may find people try it on offering a price based on what next door sold for, when yours, clearly in better condition, is worth more.

    IMO you would have a harder job getting your house's true value if next door has gone for buttons.

    As you say though, at the moment, they will both attract different types of buyer. I would put an emphasis on yours being ready to move in to.
  • Tiners
    Tiners Posts: 232 Forumite
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    Crashy_Time wrote: »
    Who keeps a house empty for 17 years, and why? I`m sure Mr. Corbyn will have a policy or two to sort out this type of thing!


    I've got a relative, who has 3 empty houses, well I say empty they're actually floor to ceiling with hoarded belongings and he actually rents a fourth house to live in... probably soon to be evicted as he's also filling that up with crap!
    There's also a guy in my village who owns 5 houses, all empty and falling into disrepair, refuses point blank to rent or sell any of them despite numerous enquiries from folks.

    OP I think if you're in no immediate rush I'd hold off until the house next door has been sold and under renovation, I personally wouldn't consider a house no matter how attractive and reasonably priced if next door was in a dilapidated state, damp and rats would be my immediate concerns.
  • margi_g
    margi_g Posts: 84 Forumite
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    Couldnt agree with you more!.

    This place is dreadful. There hasnt been any windows open in that length of time either. I havent been inside until about 6 months ago and I am sorry I did.The place smells like what I imagine an Egyptian tomb must have smelt like !

    Feel like I am living next door to Ms Haversham in "Great Expectation" one of the reasons I want to move.Its creepy living next door to this place. Thepeope who own it have been saying they will do it up for the past 17 years and nothing has been done so I amsic k of it.May be it will sell maybe it wont)
  • margi_g
    margi_g Posts: 84 Forumite
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    they are not detached thankfully and we have quite a bit of land /garddem between us but you can still see this wreck from my kitchen window so Holding off until its in a better state or hopefully knocked down and something better built there might be the answer! That could increase mu house price if a nicer new house was built there couldnt it?
  • hazyjo
    hazyjo Posts: 15,470 Forumite
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    margi_g wrote: »
    they are not detached thankfully and we have quite a bit of land /garddem between us but you can still see this wreck from my kitchen window so Holding off until its in a better state or hopefully knocked down and something better built there might be the answer! That could increase mu house price if a nicer new house was built there couldnt it?
    It would more likely make it easier to sell rather than worth more.


    BUT... as I (and others) said above, anyone buying yours will have it valued by their lender. That valuer will be using comparable evidence - whatever next door sells at will be looked at. It depends how deeply the valuer goes into things as to whether he might down-value yours as a result. Who knows.
    2023 wins: *must start comping again!*
  • Tiners
    Tiners Posts: 232 Forumite
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    Why not take some pics of next door in it's current state? Then you can use them as evidence if any future valuation of your house is low due to the low sale price of next door.
  • Crashy_Time
    Crashy_Time Posts: 13,386 Forumite
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    Put it on the market ASAP, but you will have to discount the price to allow for the mess next door IMO.
  • Crashy_Time
    Crashy_Time Posts: 13,386 Forumite
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    Tiners wrote: »
    I've got a relative, who has 3 empty houses, well I say empty they're actually floor to ceiling with hoarded belongings and he actually rents a fourth house to live in... probably soon to be evicted as he's also filling that up with crap!
    There's also a guy in my village who owns 5 houses, all empty and falling into disrepair, refuses point blank to rent or sell any of them despite numerous enquiries from folks.

    OP I think if you're in no immediate rush I'd hold off until the house next door has been sold and under renovation, I personally wouldn't consider a house no matter how attractive and reasonably priced if next door was in a dilapidated state, damp and rats would be my immediate concerns.


    Do they have to pay full council tax on all the empty houses?
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