Will developers (or maybe buyers!) never learn

QTPie

N79 wrote: »

I'm not going to comment on the prices but one reason for the 2000pcm rent could be because this is the highest the rent can be while keeping the tenancy subject to the various housing acts. If the rent is any higher then there would be no S21 procedure (for LL to gain possession) and no statutory periodic tenancies which mean LL could not get Ts out for the duration of the tenancy. This would be a bit difficult if they wanted to sell in the near future.

An AST can, of course run periodic with LL able to give two months notice after 6 months. Much more convenient for a LL also trying to sell.

Thanks, that is interesting...

I was talking "window coverings" with them yesterday (it would be an issue if we rented it as there is currently nothing up - not even blinds or curtain poles.... and I am not a complete exhibitionist... ) and they said they would do that, but only for a minimum 12 month lease.

I am currently VERY undecided... since I found out last week that I am pregnant . This might mean that we bring buying forward (and look to buy again within 6 months): so staying put (and renting back from our buyer) would make a LOT of sense in that case. But there isn't a lot available in our price range at the moment... so there is a risk that we might be stuck renting for 12/18 months. In which case this rental house is very attractive... (not sure where we would put a baby in our current house...).

BUT if we did rent the house, we might risk falling in love with it... could be dangerous as I don't see us havcing a budget of £1.25m in the near future....

Hhhmmmm.
QT

lostinrates

thriftybabe wrote: »

A few houses in our area at top end of spectrum are starting to reduce. One has reduced by over £100k. It is a sought after area where people want to live but houses have been on for a while.

I have noted reductions of 250k within 5 miles of my home, and a 400k in a commutable rural location, and a few of the 100k mark.

QTPie

thriftybabe wrote: »

A few houses in our area at top end of spectrum are starting to reduce. One has reduced by over £100k. It is a sought after area where people want to live but houses have been on for a while.

I am seeing that too: although some "top end houses" will go for close to their asking prices (in this area), they generally have to be worth it (generally period properties). Those newer houses which are definitely "optimistically priced" generally either stay on the market or only get sold when they are reduced. Yes people are going back to the top end, but they want to see value for their £1m+...

The house that I am talking about is a 1970s property. There is a very similar (i.e. COMPLETELY gutted and refurbed 70s property on a similar sized plot with similar views a few doors down from the property that this thread is about... BUT with bigger square footage of living space) property that came on the market on 12 Nov 2008 at £995k, then was reduced a month ago to £910k. Still no offers accepted on it.

QT

lostinrates

would you not consider the other, larger, cheaper house then?

socrates

If you can get away with staying where you are (including having the baby) then stay there - moving, buying, having a baby all far too stressful.

The most important thing is the baby - houses come and go.

Good luck!

LandyAndy

£2000 per month on £(750k + 100k) = 2.8% return

SingleSue

lostinrates wrote: »

Actually I am following a few houses in that price range and some are having hefty price reductions.

Same here and with the same result.

QTPie

lostinrates wrote: »

would you not consider the other, larger, cheaper house then?

Personally no (not to buy) - it is still out of our price range... (we are probably looking up to £700k, but may inherit some money soon...)

Thanks Socrates . I see what you mean. Have been starting to think that "having" to buy a house in the next 6 months could be a nightmare... You want to sit back and anjoy the pregnancy without "having" to do anything stressful, don't you...

Hhhmmm, will think more and speak to husband.

QT

socrates

QTPie wrote: »

Personally no (not to buy) - it is still out of our price range... (we are probably looking up to £700k, but may inherit some money soon...)

Thanks Socrates . I see what you mean. Have been starting to think that "having" to buy a house in the next 6 months could be a nightmare... You want to sit back and anjoy the pregnancy without "having" to do anything stressful, don't you...

Hhhmmm, will think more and speak to husband.

QT

Why dont you do what most women do - dont speak to him just tell him - and whilst there tell him to stock up on pickled onions!

spuds_2

I have noticed that houses bought by developers seem to be the most overpriced too. One near us was bought for £700k - okay it's had a full refurb inside and out, to a good (if tackyily styled) standard - but it has been on the market for £1.2 million for about a year. To my knowledge, no house in this area has ever sold for over £1 million. The price has never been dropped.