Same Type House £25K difference

cramg

There are two properties for sale a few roads up from where i live that are approximatley 5 doors apart from one another both in the same road.
The houses are same build and design - the difference being one needs doing up.
However, the difference in price has me thinking about which price is the more realistic.

House 1: http://www.rightmove.co.uk/property-for-sale/property-33810433.html

House 2: http://www.rightmove.co.uk/property-for-sale/property-23037036.html

Comments and opinions please regarding the difference in price.

Thanks

modd1uk

cramg wrote: »

There are two properties for sale a few roads up from where i live that are approximatley 5 doors apart from one another both in the same road.
The houses are same build and design - the difference being one needs doing up.
However, the difference in price has me thinking about which price is the more realistic.

--- Snipped links due to new user rules
Comments and opinions please regarding the difference in price.

Thanks

Depends how much work needs doing to it, but that is a big difference in price and just think of the result that could be had with a nice bit of cash to do it up with (Its the way im looking at things at the moment)

DannyboyMidlands

In my opinion, house number 2 is the nicest and wouldn't take anywhere near £25k to get the decor up to scratch.

What are the house numbers?

Thrugelmir

Personally I prefer the cheaper property. Though would spend money on personalising it.

Real plus points frontage and back garden. Something I'm very particular about. Also better spacing between properties.

Caveat_Mortgagor

House no 2 has a lot more garden space, though from the outside both houses look like they will be small inside.

House No 2 was last sold in Nov 2011 for £165k.

Is it possible someone bought it to develop and ran out of money? I cant imagine they have done anything to the house, so if it takes your fancy you might want to offer them the chance to recoup their money.

If they really have run out of cash then anyone sensible would snap your hand off to walk away having only lost their transaction costs.

somethingcorporate

House number 2 all the way. It can be updated to your tastes, in your own time and using your own cash wisely.

GDB2222

Hmm, conservatory cost = £10k?????
Kitchen = £3k????
Bathroom = £3k????
Decorations
Carpets
Garden

You could easily spend £25k+ to bring house 2 up to house 1's condition.

somethingcorporate

GDB2222 wrote: »

Hmm, conservatory cost = £10k?????
Kitchen = £3k????
Bathroom = £3k????
Decorations
Carpets
Garden

You could easily spend £25k+ to bring house 2 up to house 1's condition.

Those estimated costs look like if you do it on the cheap too, although they will be to OPs specifications so would certainly be worth the extra cash. I have been around some lovely houses where clearly £20k has been spent recently on a refurb for my wife to say we'd have to rip the lot out and start again!

She is fussy, I wonder why she chose me!

ognum

I prefer house 2, a lot of the stuff done to house 1 is not to my taste so I would have to spend 10k changing it!

But it does depend who wants to sell most, one may be happy to drop more in price than the other!!!

GDB2222

To be Frank, I am not sure that I would update house 2 at all. Maybe the carpets, and there is no photograph of the bathroom.

laurel7172

Much nicer garden on House 2. That's not something you can upgrade.

Also, I seriously don't like where they have the boiler in House 1 (what is the point of open plan if you wall mount a boiler over the open part?) and that would be expensive to change.

And in five years time, the swishy upgrades on House 1 could easily look as dated as House 2 does now.

Not that I'm biased or anything