To those selling in these difficult times Part Deux. AKA sellers support network!

Rooklands

Hello, our house (a Grade 2 ,1 bed cottage) has been on the market now for over a year and a half, feedback from viewers has been very positive, with no comments about the price (£125k) but the problem has mainly been down to having no garden and having very steep stairs (no stair lift can fit) which has put off the older viewers, which unfortunatly have made up most of our viewers.

Other than reducing the price again i was thinking of what the options would be on renting this house out and borrowing to purchase a new house. but i am unsure what the steps on this may be. Your advice would be invaluable.

thanks

skintlass

Fingers crossed that they come back with a higher offer for you Kymie.

kymie

Thanks for the well wishes! We cant drop much more Pawpurrs as we need so much to carry over for a deposit,and as we know property down South is more expensive!

skintlass

Rooklands wrote: »

Hello, our house (a Grade 2 ,1 bed cottage) has been on the market now for over a year and a half, feedback from viewers has been very positive, with no comments about the price (£125k) but the problem has mainly been down to having no garden and having very steep stairs (no stair lift can fit) which has put off the older viewers, which unfortunatly have made up most of our viewers.

Other than reducing the price again i was thinking of what the options would be on renting this house out and borrowing to purchase a new house. but i am unsure what the steps on this may be. Your advice would be invaluable.

thanks

Hi Rooklands.
:hello:Welcome to the forum.
Your cottage sounds lovely, as the steep stairs are a problem could you get them refitted with a better gradient? Also, as you have no garden - do you have any outside space that you could jazz up to make a little oasis?

spirit

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Spirit - or move jobs?



Looked into that too, the trouble is that mine is a dormitory city where there are no big employers. There is only the local and county councils, hospital and then the shops etc. Also once you get to 50 the opportunities become less I have found.

My agent rang yesterday to say that a couple who looked at my house recently are now sold themselves and therefore in a position to offer. They were seeking mortgage advice yesterday so I'm hoping for an offer today or tomorrow (need a fingers crossed smiley)

Rooklands

Hi Skintlass, changing the stairs are not really an option due to cost. we do have a enclosed path leading to our door which has a border on one side which we have jazzed up, (rose bush, clematis, other shrubs, budda :-)

I am assuming if i want to rent this out i would need to try and get a bank to lend us more money to buy a new property, the existing has a 100k mortgage, so giving us an extra 160k could be out of the question, but is it worth trying this route?

kymie

Rooklands we looked at the renting out option. Just take in to account as someone mentioned do you have enough income to not only cover mortgage if left empty (and any utility standing charges etc) but also repairs etc that might need doing while you have tennants, if anything goes wrong you will have to fix it (heating, leakes, boiler, electrical etc). As for getting a mortgage for second property your best bet is talking to an independant financial adviser who can go through it all with you (incomes, equity, out goings etc). Good luck with your decision!

keith969

Quick update - the packers are in today, armed with a frightening number of boxes. The big move is tomorrow! Am quite excited but it will be very strange leaving this house after 18 years...

jenny74

keith969 wrote: »

Quick update - the packers are in today, armed with a frightening number of boxes. The big move is tomorrow! Am quite excited but it will be very strange leaving this house after 18 years...

Good luck and congrats!

I know what you mean about te strange feeling bit - We've been here 10 years and are a little sorry to leave... but our new house is bigger and in a lovely quiet location. (And if you ask my 3 year old what she likes about it she'll say 'it's got 3 toilets! 2 upstairs and 1 downstairs!' - She thinks this is great!!)

We will be packing ourselves, which I will be glad when it's done!

skintlass

oh dear - buyer was supposed to go to EA today and prove mortgage offer but hasn't turned up or contacted EA. EA has left messages on mobile. I feel sick, last time I had an offer on the day that the person was supposed to be proving income they pulled out as they said they're offered on several other houses and had decided to go with one of them. Why is selling a house so stressful - we really have no regulation in England :-(