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Will anyone buy semi's these days?
Pauper_Princess
Posts: 232 Forumite
We have a 3 bed 1960's semi in Wakefield in West Yorkshire. We are hoping to put it on the market early next year, as we want to move to either Australia or Scotland.
The thing is, I read the property papers every week, and it seems like the semi's in our price range just aren't moving at all. We re-mortgaged last year and got a free estate agent valuation to make sure we weren't wildly out with what we wanted to borrow, and they valued it at £150,000. Nearly every other semi in Wakefield is valued around this and nothing's selling. I don't mind putting it up a little lower, but even mid terraces are going for £125,000 now!
I know I'm worrying before I need to, just wondered if anyone else had come across this or whether it's just round here? Why don't people want semi's any more???
Also, the house inside needs some updating (horrible 70s kitchen, horrible artex ceilings in bedrooms etc). OH thinks we should look at a small loan in the new year to replace these to give it a better chance of selling. I'm not convinced - feel it's a bit of a waste of money. There again, every house we'll be in competition with, will have nice kitchen etc... might make ours harder to sell?
Any advice gratefully accepted
The thing is, I read the property papers every week, and it seems like the semi's in our price range just aren't moving at all. We re-mortgaged last year and got a free estate agent valuation to make sure we weren't wildly out with what we wanted to borrow, and they valued it at £150,000. Nearly every other semi in Wakefield is valued around this and nothing's selling. I don't mind putting it up a little lower, but even mid terraces are going for £125,000 now!
I know I'm worrying before I need to, just wondered if anyone else had come across this or whether it's just round here? Why don't people want semi's any more???
Also, the house inside needs some updating (horrible 70s kitchen, horrible artex ceilings in bedrooms etc). OH thinks we should look at a small loan in the new year to replace these to give it a better chance of selling. I'm not convinced - feel it's a bit of a waste of money. There again, every house we'll be in competition with, will have nice kitchen etc... might make ours harder to sell?
Any advice gratefully accepted
FFW: Weight 06/01/07 11 st 6lbs 01/02/09 - 9st 6 lb
How do you pick up the threads of an old life? How do you go on... when in your heart, you begin to understand. There is no going back.There are some things that time cannot mend... some hurts that go too deep. That have taken hold.
How do you pick up the threads of an old life? How do you go on... when in your heart, you begin to understand. There is no going back.There are some things that time cannot mend... some hurts that go too deep. That have taken hold.
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Comments
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Getting the artex skimmed over might be worthwhile, but I'm not so sure about the kitchen. A kitchen is a very personal thing so what you like may not be what the next person likes. As long as you price it to reflect the fact that it needs a new kitchen then buyers might prefer to be able to "do their own thing".0
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Can you do a quick fix on the kitchen instead? Maybe just painting or replacing the doors.When I had my loft converted back into a loft, the neighbours came around and scoffed, and called me retro.0
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I'm not that far from Wakey - I commute through every day. Houses do seem to be sticking a bit - most of the Sold boards I've seen have been smaller terraces (presumably heading for BTL-land) or fairly run-down properties (the do-it-up-and-floggits).
There may be a lot of mid-terraces "going" for £125k, but a lot have been going for quite some time... As Jennifer suggested, maybe better putting it in for a 'do it up' price - likely to get more interest than a 'same as the other 20 in the road' price.0 -
jennifernil, that's what I thought about the kitchen. If we take say £5K off the price someone might be more attracted as, like you say, they can put their own kitchen in then?
The artexing is bugging me, it was one of the things I swore we'd sort out when we bought the place 5 years ago! I've heard it's quite expensive... will have to sort out some quotes I think.
pboae - the kitchen is is a grotty state really - the worktop's stained, the hob looks like it was built when Adam was a lad, there's a patch in the corner where some new pipes were put in (before we bought it) and never tiled over... could go on!! Wish we could just stick on some new doors
ManAtHome - I'm so glad someone else has noticed!! OH thinks it's just me being all doom-and-gloomy. I'm just trying to be realistic! The last thing we want is to be stuck with a house we can't sell!! Every single Sold board I've seen is on terraces like you say (usually followed a few weeks later with a To Let board!!!)
Am definitely beginning to think that the "Require modernisation" is the route to go...
Thanks for your help everyone FFW: Weight 06/01/07 11 st 6lbs 01/02/09 - 9st 6 lb
How do you pick up the threads of an old life? How do you go on... when in your heart, you begin to understand. There is no going back.There are some things that time cannot mend... some hurts that go too deep. That have taken hold.0 -
scotland or australia now there's a dilemma !!!!0
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No 1 choice is Australia but if we don't get the visa we'll try Scotland, where OH's family live. And buy plenty of jumpers FFW: Weight 06/01/07 11 st 6lbs 01/02/09 - 9st 6 lb
How do you pick up the threads of an old life? How do you go on... when in your heart, you begin to understand. There is no going back.There are some things that time cannot mend... some hurts that go too deep. That have taken hold.0 -
Very mild up here in Scotland at the moment! Sitting here with no heating on and NO jumper!!0
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But very wet - especially in Dingwall
http://news.bbc.co.uk/1/hi/scotland/highlands_and_islands/6086502.stmWe all evolve - get on with it0 -
Yes, how terrible to get your home flooded like that. We are just north of Glasgow and have had a bit of wind and rain, some big puddles on the roads etc, but fine otherwise. We stay up a bit of a hill so not much chance of being flooded here thank goodness.0
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We are after a semi
we are putting our 2 bedroom terraced up for sale next week just trying to get EA down a bit on commision. I aint got a clue what to do about the other aspects though.
I was told my house will sell easy and in fact next door went in 2 weeks, as long as I sell it reasonable about 110k0
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