House on the market since March... keep trying or rent out?

DannyboyMidlands

This one is just around the corner, similar price, no railway line, 3 beds, nice front garden and photos make it look bright and sunny:

http://www.rightmove.co.uk/property-for-sale/property-30658228.html

brit1234

Its the price. If you are not getting offers since it has been on the market since March and not dropped the price you are even less likely to get offers when house prices are lower than March.

Renting is probably a very bad idea if you have no deposit. You need to sell at a realistic price.

00ec25

DannyboyMidlands wrote: »

This one is just around the corner, similar price, no railway line, 3 beds, nice front garden and photos make it look bright and sunny:

http://www.rightmove.co.uk/property-for-sale/property-30658228.html

I think this one says it all about why the OP's house is not getting offers.
The other one is on for only £2K more yet is: 3 bed, has a separate study so you still get 3 bedrooms, and has a kitchen diner big enough to eat in.
One problem with the OP's house is the integrated garage eats up too much house - look at the extra you get at the other house for having a detached garage and a bit less garden

So at only £2k less the OP's house is WAY over priced

abankerbutnotafatcat

It's on the Portsmouth mainline, I think - so, a busy railway line. I thought it looked nice and a bit of decluttering and some new photos can't harm but you may need to reduce your price if you really want to sell. However, give the new agent another couple of weeks and see what feedback you get from them. Good luck OP.

girllikeme1

00ec25 wrote: »

I think this one says it all about why the OP's house is not getting offers.
The other one is on for only £2K more yet is: 3 bed, has a separate study so you still get 3 bedrooms, and has a kitchen diner big enough to eat in.
One problem with the OP's house is the integrated garage eats up too much house - look at the extra you get at the other house for having a detached garage and a bit less garden

So at only £2k less the OP's house is WAY over priced

All valid points. I know everyone has their own preferences - I personally, would never buy a house with a garage in a communal block and with no driveway of its own - though I know others would disagree. It depends what is important to you.

Historically those white-fronted houses (although bigger) have sold at the same or less than our style of house, but I accept this might be different in the current market.

DannyboyMidlands wrote: »

I still think it's price. I as a buyer in the current climate would be looking to pay no more than around £140k, similar to the price in 2005. The work you have done doesn't really matter because chances are I'm going to want to put my stamp on it anyway.

When we bought in 2005 it didn't just need redecorating - everything had to be ripped out and started again. We bought for £142,500.

I hope that £140K is not a realistic price (considering other property prices in the area) - if that's the case I think we will consider staying put for a few more years and saving / maxing our mortgage payments, or renting it out as would be more lucrative than selling at rock bottom :think:.

Thanks for all your feedback, it's very useful to have.

oldMcDonald

I don't think your home is WAY overpriced - it is on for 15k more than the 3 beds in West Leigh and your area (Denvilles) is much nicer. However, you are only a couple of £k less than the 3 bed nearby so I think you are being somewhat hopefull with the asking price.

If I were looking at selling this house I would probably drop the price by £5k and have a major declutter - then get the EA in to take some new pictures of the (decluttered) house.

If I were buying then the railway line at the bottom of the garden wouldn't concern me too much (I used to live a little further up the line from you and had it running at the back of my garden, too), but if for a couple of thousand more I got an extra bedroom and no trains then I doubt I would look at yours.

DannyboyMidlands

Please don't take this the wrong way, it's intended in a light-hearted fashion, the problem isn't the house. The problem is you.

From this sale you want to cover your mortgage, have a bit left for a deposit and maybe even cover the cost of your rennovations. That's all totally understandable but exactly why I don't want to buy from you.

Probate type sales are offering by far the best value in the current market. A tired old house that's been lived in for 30 odd years, is mortgage free and the owner has moved on.

When_is_the_reset?

Some scary things have happened in Rowan Road and Nutwick Road.

bap98189

It looks like a nice house. Some people may say it's cluttered, but that wouldn't bother me as your stuff will be going with you when you move out. However, unless there is something special about your house that I am not seeing in the advert, your house is way overpriced. I am not familiar with the area, but if you search for houses in Denvilles, your 2-bed is priced at £160k. All the other 2-bed houses are priced at £145k or lower. There are 3-bed end terraces at £150k!

Also your house backs onto a railway line. If I were looking for a house, I would rule out even looking at yours simply for that reason. Maybe it is quiet at night, but I have no idea if it is or not, and I wouldn't be interested in buying the house only to find I get woken up at 3am every night. I suspect I am not the only person who would do the same thing.

girllikeme1

DannyboyMidlands wrote: »

Please don't take this the wrong way, it's intended in a light-hearted fashion, the problem isn't the house. The problem is you.

From this sale you want to cover your mortgage, have a bit left for a deposit and maybe even cover the cost of your rennovations. That's all totally understandable but exactly why I don't want to buy from you.

Probate type sales are offering by far the best value in the current market. A tired old house that's been lived in for 30 odd years, is mortgage free and the owner has moved on.

Yes of course, and that's what we'd like to find too - everyone is after the best value for money they can get in this market.

I too mean this in a light-hearted way: I don't think *I* am the problem :rotfl:as have had the place valued by 4 estate agents.... didn't just pluck a figure out of the sky and insist on it .

Anyway, you have all given me food for thought, so thank you. I think my next step will be considering renting it out (if we don't sell) as it may be more worthwhile for us.... so had better speak to my mortgage lender! Or just stay put! :beer: