Want to show this thread to my OH

Running_Horse

The point everyone keeps missing is it may be more expensive to rent.

Why are you no longer able to afford a house he bought ten years ago?

GDB2222

Running_Horse wrote: »

The point everyone keeps missing is it may be more expensive to rent.

Why are you no longer able to afford a house he bought ten years ago?

What's extraordinary about this thread is that the OP is saying that the house is too big for them. Hands up all those who think their house is too big?

I do wonder whether the reality is that it's the house he bought before he met her. She doesn't like it, but he does. After all, he chose to buy it. Last thing he wants to do is sell it.

ceegee

AfterGlow wrote: »

I want to show this thread to my other half when he gets home tonight, because I am at the end of my teather with him.

The house has been on the market for around 11 months, 4 months with one agent, one price reduction of 5k, then 25 weeks ago we changed agent and also reduced the price by 5k

.........................................................................


Can you all please give him a virtual kick up the backside because Im on the verge of killing him to be honest or am I wrong? should he just wait around for years to get a good price?

Oh, how I sympathise with you. Change "other half" to "sister" and that is exactly how it is for me. I won't go into boring details about it, though, as this is your thread!

Tell him that sale price will only go down further and further the longer it is on. As others have said, if it is on for too long it will get stale and even the agents will get fed up with it. People will just not bother with it as it will seem like there is something wrong with it, as it has been on for so long.

The economy isn't going to get any better either.

You still have a few weeks left for this year......the housing market is still quite bouyant in October, but in 5/6 weeks' time, it'll start to fizzle out and won't start to pick up again until February/March, which will be another 6 months languishing on the market, by which time it'll go for even less than it might get at present.

Get it sold now. House prices are NOT going up, they are going DOWN and the longer it is on, the less you will get for it.

Horizon81

Whilst I started out saying the OP's fella should expect to get less for his house than what its currently advertised at, I don't think he should sell it any any price which is what some people seem to be saying.

And as for new homes built in 2001 being 50% overvalued, if that were the case I'd be able to pick up a nice 3 bed detached round here for 50k, which is of couse, not possible.

ILW

Horizon81 wrote: »

This is just plain wrong. He paid £84k for it on 2001 which is before the spike in house prices began. I'd expect some healthy profit on a 2001 house price!

Could be Northern or Southern Ireland.

AfterGlow

GDB2222 wrote: »

What's extraordinary about this thread is that the OP is saying that the house is too big for them. Hands up all those who think their house is too big?

I do wonder whether the reality is that it's the house he bought before he met her. She doesn't like it, but he does. After all, he chose to buy it. Last thing he wants to do is sell it.

Thank you all so far for the replies.. A few people have asked up to now why we cant afford to buy another house/afford to live here anymore..

Yes he bought the house before he met me, I didnt know him at the time etc, then we met and I moved in with him when he asked me.

When he bought the house he was on a larger wage, They then let a few people go at his place and he was one of them, they wages he is on now are nothing like what they were when he bought this house.

I lost my job recently and have only been able to find part time work to keep us going so my wages are nothing to write home about at the moment.

The reason we believe we wouldnt be able to afford another house is because we will not have a deposit after paying the existing mortgage off so would have to start from scrath saving up.

I quoted the above to say that yes my partner bought his house before we met but I in no way dislike it, and we really do feel it is too big for us, might sound mad, but we are looking at it in terms of heating the place in winters (heating oil) we only use one of the bedrooms, so have two bedrooms empty and doing nothing, we never go into them, we have a bed and furniture in them but never use them.

Its been ten years since he bought the house, and a lot has changed in our lives and we both want to move on, it was his idea to put it up for sale so we could find a smaller house which would be easier to manage, heat and pay for.

Emmzi

spare rooms = lodgers surely?

GDB2222

Emmzi wrote: »

spare rooms = lodgers surely?

beat me to it

eamon

Oil fired heating smacks of being out in the sticks, perhaps not ideal lodger territory nevertheless an option worth exploring. Perhaps the husband needs a different perspective. I sold my first house for 7k less than what I paid for it. But to cushion the blow I realised that for that time period I would have had to live somewhere and in the absence of a sugar mummy that costs money e.g. rent. At the time it hurt to be "losing so much money" but as it wasn't money sat in my bank acount it became less relevant.

armour

You say that you originally wanted to downsize, but now would have to rent.
Why not let the 3 bed house and rent a one bed flat? You'd probably make a surplus.
You'd still own a property, which, no matter what anyone on these forums says, is a good thing.