Property on market for too long...ideas???

GDB2222

I can't tell whether the photos do the house justice, but it's a nicely presented house. Doing up the decorations/carpets is a waste of money IMHO, and it won't make much difference.

I would definitely try to find out from the agents what the problem with selling it is. I would also get another agent involved on a multi-agency basis. Bit of competition will help to ginger things up.

It makes no sense to let it. You'll get about 2% rental yield**, and you'll end up spending that on doing the place up again at the end of the rental.

**There are 3 3-bed houses on the market locally to rent at £600-700 pm

Tyler119

Thanks for the comments everyone, really helpful. I really didn't have much of a clue as where to go on this one. My partners parents only passed away November & January and none of us have much experience with this sort of thing so thanks again.

UPDATE! Just had the valuation back from the surveyor who has put it at £250k.

I will admit that the price was a good point as when you get to the 280k and above mark you do get extra internal space. THe report put the internal space at around 172m². The garden is a ridiculous size and the next buyer could easily add a conservatory which would compliment the rest of the garden.

I think the one down the road that sold for 280k was a fair price considering that it needed a new kitchen / bathroom and the house redecorated.

I will have a talk with my partner and her sister and see what they think about it as they will have the final decision.

The other house that someone posted is cheaper (possibly for a quick sale). However it is also on about the busiest main road in the town and the garden just don't compare.

I hear what people are saying about not spending any money on the house. However I feel spending just a little would be positive. The market here is slow and there is always competition and I'd like the house to stand out as much as possible. Yes people will obviously put their own mark on a house. However I don't think they should be viewing the house and instantly thinking they have to spend money to get rid of someone else taste in carpets etc. I've spoken to a few people and they would much rather it was like a blank canvas with neutral colours in decor and flooring. With regards to the garden the decking does need done as again someone viewing the house would think, money needing to be spent! The summer house though is very large, solid and has 100% no damp in it and I think its been there for a decade now.

EDIT! I though rental may be a good option to try and pay the remaining mortgage balance off while retaining the value in the house. By the time its paid off house prices may have increased.

GDB2222

Carpets: These are pretty neutral. You might prefer no pattern at all, but these are pretty inoffensive. I doubt many people will be put off by them or feel they've simply got to go on day 1.

Renting: You are ignoring my point about how low the rental is. There's a lot of work involved, and the rents are very low compared to the house value. By the time you've paid all the non-mortgage costs, you'll have next to nothing left over. It's a pure gamble whether prices go up or down over the next few years - indeed, it's one you can hedge on IG Index!

Price: Listen to the surveyor! The SDLT jump at £250k is a real barrier.

Dan-Dan

If its valued by a SURVEYOR, not an EA , @ 250k.....get ready to accept that or less , sorry to say.....and dont throw money away making it spakrly and nice because it wont budge that 250k anywhere

Racml34

It looks a nice house and nothing would really put me off but the price. I realise it's a big drop that the surveyor has suggested but you need to think of it this way; most people purchasing around that budget would need to obtain a mortgage. If it is valued substantially lower than the sale agreed price then the buyer will not get the mortgage they need as the bank will only lend up to the value price. Not many buyers have the spare cash to bridge the gap between the mortgage offer and the sake price if it differs by several thousand.

jmt

The house looks like a lovely well maintained family home and I don't think that the internal decoration or carpets would put anybody off. I recognise the carpets as Brintons Marrakesh range and they would have cost a fortune. As long as they are in good condition if I was buying I would prefer these and have them cleaned upon moving in to being changed for cheap foam back stuff.

I think it must be down to price, to be on the market for so long it is the only thing it can be. If you look at what has sold in 1/4 mile radius http://www.rightmove.co.uk/house-prices/detail.html?country=england&locationIdentifier=STREET%5E997723&searchLocation=Wheatclose+Road&radius=0.25&referrer=listChangeCriteria you will see that 3 bed (without extension) have sold for anything from £170K upwards.

I put a property on the market in March and sold to the first person who saw it, 6 days after hitting Rightmove. I went with the EA who I felt gave the best service and a realistic valuation. My property was not my home and I felt that it was better to get a price I was happy with rather than hold out for months.

Ivana_Tinkle

It's already a well-presented house. Changing the carpets isn't going to make a blind bit of difference to its value.

PudseyDB

Lovely house overall - the carpets are fine

The only thing that put me off was the bathroom - its dated. The cream suite itself is fine - probably nicer than cheap plain white to be honest - but the pine wall cupboards and loo seat spoil it!

Rottensocks

The house looks lovely: clean, bright and well presented. Some things not 100% to my taste, but absolutely not a single deal breaker visible there.

If the house has been on the market that long, and assuming tehre are no hidden nasties (i.e. next door to nuclear waste plant) the only answer must be that the price is putting people off...

I would reduce it: Bear in mind the massive difference in stamp duty if you buy at just under £250k.....

anotheruser

I echo others above who have said the house looks lovely, but is the price realistically set by an Estate Agent rather than what the house is supposedly worth?

However my first thoughts on looking through is to de-clutter.

1) Yes, paint the bay window. Looks a little shabby at the bottom - discoloured? Are the windows single paned? Could you paint the brown wood to be white like next door? Obviously getting the windows replaced would be a cost but compare it to next doors house.

2) Picture 4/16 - get rid of the book case maybe and whatever it is on the fireplace. Maybe get a nice big mirror to go above the fireplace or a large bunch of flowers every time you get a visit.

3) Picture 5/16 - kitchen looks fine. Is this the most flattering angle? What is that on the work top to the very left? Get rid of it :P

4) Picture 7/16 - those pictures are nice What is that to the right of the chair? Get rid of it. The fireplace things look okay.

5) Picture 9/16 - Ditch the printer thing. Maybe get rid of one of those chest of drawers too so it doesn't look odd. Get rid of the table from the bay window (stops people looking out) and the power cables.

6) Picture 10/16 - Clutter of boxes under the bed, I'd move these. Not sure the mirror is in the right place, might not even be a good thing to have it at all.

7) Picture 11/16 - I'd take all those shelves off the walls. Is the bed in the right place? Could it not go round the corner to picture 12? I understand it's a dressing area but the bed where it is creates a tiny walk way which may put some people off.

8) Picture 12/16 - Get rid of the storage boxes.

9) Picture 13/16 - Get rid of the towels (or at least tidy them up!), the scales need removing and the bin doesn't fit with the "theme". I'd get rid of that blue thing on the bath too.

The garden is fine.

Watch some "Phil Spencer Secret Agent" and look at the tips he gives other people in your position, or why not get on the show? http://channel4.com/takepart - you'll get a fee (they'll pay you) and might end up with your house sold, plus some of the best advice.

Remember, you need your home to look a bit more like a "show home" rather than a "lived in" house. Some people suggest baking bread or cakes an hour before the visitors are due to arrive, however many people are put off as they know this "trick".

Good luck and keep us updated!