Difference in price?

sandraa_2

Can you please tell me if their should be a difference in price between an ex-council house (in a council estate) and a private house in a similar location.

I was willing to pay £206000 for a 2 bedroom but just discovered it is ex-council....

Thank you

Doozergirl

There's no formula. Just the fact that it was once owned by the local authority doesn't mean it has to be cheaper.

Location is what sets price most of the time. Council Estates aren't widely considered as 'the place to be' and so the location affects price.

The aesthetics of a house affect value too eg. period property is more expensive as are double fronted properties. Council house are not generally of any antiquity and are often quite simple in style. That's another reason why you would find them cheaper. Also, if the location still has a proportion of social tenants, then it will affect price.

But, if it looks like a regualr house in a regular location, there's no reason for it to be cheaper. When I lived in London, there were full roads of amazing, huge, red brick houses near to me which were nearly all social housing. Those buildings fetch a premium now because they are architecturally interesting. People want to live there.

Debt_Free_Chick

sandraa wrote:

I was willing to pay £206000 for a 2 bedroom but just discovered it is ex-council....

Put another way ..... do you feel it's not now worth what you offered? And if not, why not?

Just trying to help you "gather your thoughts", which might help you arrive at a decision.