Do I have the Unsellable Flat ?

Fire_Fox

dopester wrote: »

You regularly repeat that and I don't know why? Why is it a good investment in the long term???????????

I read the Policy Exchanges report from 2008, and it now seems the new Government are coming around to its wisdom. With their recent urgings that people should move out of areas falling into further decline after Labour's credit-boom, to areas with better opportunity and better job prospects.

The Government can't keep pumping money out, which they haven't got, to support the public sector and try and make jobs in areas which once were prosperous but where their economies have drastically changed.

With a broke banking sector and so much debt in the system I just don't understand how you can blandly keep saying all UK property and areas are a good long term bet. Just because we've experienced 60 years of inflation - a historical irregularity - especially with house/land values, doesn't mean the system can't undergo massive correction or a paradigm breaking change. Looks like it's upon us to me, but keep on saying its a good long term bet if it makes you feel better.

Even the OP here can't get a bite after reducing it, and has experienced problem tenants. That 50p offer might look good value in time to come, is the way I see it, depending on what this area has to genuinely offer in terms of supporting itself. The short term changes can be sharp, and last for the long term.

I don't need to make myself feel better, I own my home outright so am sitting pretty. I didn't mean every property in every area at any price, I alluded to the fact that one needs to research the market just as with any investment. There are few houses that won't sell or let at the right price.

I am not technically minded enough to post graphs, but property prices increase along with wages/ inflation over the long term. The property market sixty years ago was a very different animal, it was the norm for many to rent long term regardless of demographic. These days every man and his dog aspires to own property and I don't see that changing.

If you own the property for twenty five years you will have paid off your mortgage and own outright, which is more than you would have if you had rented. The problem is that few do remain in one place for twenty five years, most waste thousands trading up repeatedly, only to downsize when they divorce/ retire etc.

On a personal level I can think of numerous relatives and family friends who have done very well out of the property market - in several cases retiring early despite never having a glittering career - and few who have been burned. If buyers overstretch themselves, fail to plan for the unexpected, or buy at the peak and NEED to sell in the trough then of course they will lose out, but that is the short term not the long term.

dopester

zulucal wrote: »

Just re-decorated the master bedroom. From when I walked in to 5 mins ago here is how it went.

http://!!!!!!/7b0nw

Hey zulucal. You did that decorating by yourself, without paid help? Good work.

I wouldn't remove the bed as it gives the photos some perspective as a bedroom. A small white rug would look nice on that green carpet, imo, for when you get viewers, but I'm no interior designer. Some neutral small touches, nothing overly fussy, like some small pics on the wall.. like in the rooms of short-term let place in the same area?

I like your honesty and focus in this thread, and wish you success in selling. The other day I did a Rightmove search of properties in your area, and thought yours looked 'standout' in a good way against others in a similar asking price band, but I don't properly know the area.

zulucal

dopester wrote: »

Hey zulucal. You did that decorating by yourself, without paid help? Good work.

I wouldn't remove the bed as it gives the photos some perspective as a bedroom. A small white rug would look nice on that green carpet, imo, for when you get viewers, but I'm no interior designer. Some neutral small touches, nothing overly fussy, like some small pics on the wall.. like in the rooms of short-term let place in the same area?

I like your honesty and focus in this thread, and wish you success in selling. The other day I did a Rightmove search of properties in your area, and thought yours looked 'standout' in a good way against others in a similar asking price band, but I don't properly know the area.

Yes , did it myself did not pay anyone for any assistance. The total bill for the supplies I needed for doing that room was £31 - 10litre tub white paint, Brushes, Roller, Wallpaper stripper and and Scraper.

Have now booked a Skip for the 26th July which is weekend after my holiday for dumping a lot of the furniture (Mostly just cheap flat pack stuff). And will get cracking with the living room that weekend as well. My dad is also going to join me at some point as he's a bit of a jack of all trades when it comes to DIY and my polish friend will be joining the effort (Nothing those Poles can't do )

Blackpool_Saver

much better with white walls

zulucal

Yesterday afternoon, flat sold for £51,500 .:j Not a fortune but more than enough to make my life happy. 2 weeks ago I de-cluttered the place. Now satisfied can start living my life again:beer:

BitterAndTwisted

Congratulations! I hope everything goes smoothly for you from now on. It appears that you didn't have to sell for next-to-nothing after all, so that must be a blessed relief