Fustrated seller needs advice

GDB2222

pinkteapot wrote: »

I did notice that this is available for the same price as yours:
http://www.rightmove.co.uk/property-for-sale/property-32688890.html?premiumA=true
Though there appears to be a plank of wood holding the back of the building up. :eek:

It's just a telegraph pole. If you look carefully you can see teh wires, but it's a splendid example of why EAs and vendors should get professionals in to do the photos.

Notamondayfan

pinkteapot wrote: »

neas is right. I bought a flat for £115k in late 2006. Spent over £5k on it. Sold it for £103k in spring 2009. Ouch. But, we then rented for a while and eventually bought a house for £230k that would have sold for £275k at the market peak (it took us a while to find a place that was realistically priced). Loss of almost £20k on the flat but the gain on the house more than offset it. So long as you don't overpay on your next house, you're not actually out of pocket from where you are now.

Yes I understand the maths, and also over the 4.5 years we've lived here we've reduced the mortgage too, so at-least I haven't been throwing money away renting somewhere.

joyee wrote: »

Well i'll recommend to you dont sale to the house because in these days this is the best assets . and the money of the house increased day by day.

I did briefly look at renting it, and moving on. I may need to look into it more, but I need the sale to give me enough cash for a deposit for the next house.

fannyanna wrote: »

In your opinion. You're relying on potential buyers to also come round to this way of thinking and I think that's quite unlikely.

As has already been said a lot of people are of the opinion that the only way to add value is to extend. Anything else is maintenance.

Would they show a story like this?

The first is our property how we bought it in 2007 (and trust me when I say the pictures do not do it justice to how bad it was). The second is how the property currently is.

Like you we bought the property at a discount and spent a lot of money doing it up. We're making a loss. It was initially a hard pill to swallow and I'm afraid I think it's one that you're also going to need to swallow.

Everyone's in the same boat I guess, and it is a very bitter pill to take.

I have just done some quick maths, and I know how low I can go in order to keep a deposit for the next house. Anything lower and I simply won't move. Finger crossed for a lottery win!!

Caveat_Mortgagor

According to Land Registry the average terraced house in West Yorkshire has fallen from £92k in 2007 to £75k today.

Obviously, even though its only a 2 bedder yours is valued higher than the average terrace in the county, but the reality that you havent yet accepted is that prices have fallen by almost 20% in your part of the world.

Any sane buyer will be thinking that a house bought for £118k in 2007 will be worth abnout £95k now. Of course you think you have mitigated some of the expected drop in selling price by adding some value. Have you really added £30k of value to your house?
Remember that not all money spent on your house adds value.