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Just found out that next door has sold for more than twice what we paid!
Cissi
Posts: 1,131 Forumite
We're not planning to sell for a loooong time so this is purely anectodal, but it seems insane. Initially exactly the same house - Victorian detached. Next door has been significantly extended and refurbed, ultra modern - ours hasn't nor do we plan to. We plan to bring it to modern standards all right, but not do the massive extension/open plan living that was done next door (including jacuzzi in the garden etc).
They've just exchanged contracts, at a sale price more than double what we paid for ours last August :eek:
There is NO WAY that it would cost more than we paid (don't want to disclose the exact figure, but it wasn't far off £1M - Greater London) to bring this house to a similar standard to next door. Arguably, we're on the better plot too. Ours had been on the market for over 2 years, and yes, we did get a good deal because of our position as cash buyers - but not THAT good. If the price next door have just got was realistic, why on earth didn't a property developer snatch ours up, spend a few hundred ks on it and sell it on for double the money???
Someone, methinks, has more money than sense :eek: Can't wait to meet the new neighbours
They've just exchanged contracts, at a sale price more than double what we paid for ours last August :eek:
There is NO WAY that it would cost more than we paid (don't want to disclose the exact figure, but it wasn't far off £1M - Greater London) to bring this house to a similar standard to next door. Arguably, we're on the better plot too. Ours had been on the market for over 2 years, and yes, we did get a good deal because of our position as cash buyers - but not THAT good. If the price next door have just got was realistic, why on earth didn't a property developer snatch ours up, spend a few hundred ks on it and sell it on for double the money???
Someone, methinks, has more money than sense :eek: Can't wait to meet the new neighbours
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Comments
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It does sound crazy. Next door to us sold in Sep 2006. The purchasers did it up quite nicely and then put it back on the market in 2009 at nearly double their purchase price - I would estimate the refurb costs were not more than 10% of what they paid. They've sold, and we have some nice new neighbours who don't seem stupid with money. I don't know what the sale price was, yet.
The old neighbours have moved on to another building site.....No reliance should be placed on the above! Absolutely none, do you hear?0 -
my first house and we completed in mid february We were told we paid over the rest of what houses are worth in this road and the house price websites sort of proved it.
i had the chance to visit my neighbours last weekend-- our garden twice as much, out front of the house twice as much driveway, consrvatory and also, with our tiny effort of 2 weeks decorating and fast fixing, our house looked like ''supermodern'' comparing to the neighbours;)
i think we paid just right and it seem sooo common that the next door one always looks better- but it isnt0 -
I should just add that round here your house is supposed to have a 'wow factor' in order to sell well. Personally, I don't want to go wow in my house, but it seems to be what sells.No reliance should be placed on the above! Absolutely none, do you hear?0
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