Premium for a Semi-detached over terraced?

vectistim

I never like arguments along the lines of not being able to accept less than x because of a mortgage or an onward purchase - it doesn't affect the value of the property in question, suppose we take it to the extreme:
I can't take less than £10,000,000 for my holiday chalet despite the one next door having sold for £20,000 as I want to buy a penthouse in Belgravia.

How does the price of the semi-detached compare with the price of other ones in the area?

London_Town

bluedrop wrote: »

Would you pay £30k extra?

Absolutely yes, in a heart beat. In the context of the prices concerned, it's well worth it. Also, as you've stated it's going to be a long term home, even more so.

I fully understand the appeal of a home that is all developed and ready to move in to. However, it will only ever be a terraced house. It may take you some time and a fair bit of money to bring the semi up to your standards, but you will never be attached to neighbours on one side - priceless.

catwoman73

I fully understand the appeal of a home that is all developed and ready to move in to. However, it will only ever be a terraced house. It may take you some time and a fair bit of money to bring the semi up to your standards, but you will never be attached to neighbours on one side - priceless.

In your situation, I wouldn't discount the terrace. Living in a house with £30k of work being carried out is fairly disruptive - can you live with that? Do you enjoy DIY/finding tradespeople etc?

Is the terrace to your taste? Sounds like an easier move. You should also consider the construction materials of the two properties. I used to live in a stone built back to back terrace, ie neighbours on 3 sides. Never heard a sound from any of them.

Now I live in a 1950s brick semi and only have one set of attached neighbours. The walls are single brick and we hear the neighbours a lot more, much more instrusive.

bluedrop

catwoman73 wrote: »

I fully understand the appeal of a home that is all developed and ready to move in to. However, it will only ever be a terraced house. It may take you some time and a fair bit of money to bring the semi up to your standards, but you will never be attached to neighbours on one side - priceless.

In your situation, I wouldn't discount the terrace. Living in a house with £30k of work being carried out is fairly disruptive - can you live with that? Do you enjoy DIY/finding tradespeople etc?

We are renting at the moment. We will move into the house only after all the works are complete.

bluedrop

vectistim wrote: »

How does the price of the semi-detached compare with the price of other ones in the area?

This is the confusing part of this house /area.

This house (house A) : Semi with a bit of a space to the side. A small car can just barely fit into it. Can get it at £380k. £30k estimated for the work needed.

The prices in that postcode are:

Semi : sold in apr2012 for £380k (House : A semi with a shared drive. Good condition, mordernized. Just a lick of paint needed.

Semi - sold in oct 2012 for £421k (House C) : Exactly the same as house A (even in terms of condition when sold), but about 1ft more space to the side. This makes it easy to put a garage in that space.

Semi - sold for £355k in Jan 2013 (house D): Same room sizes as house A, but very little space to the side ( one person can walk through). Its in the same condition as house A internally but the garden is in a much worse state.

Semi -Sold in Dec 2012 for £450k(House E): same internal room sizes as house A, but has a garage to the side and an extension over it.

Semi - On sale now at asking £450k: Same as house B - Needs about £15k worth work (too overpriced in my opinion)

Terraced house in the next lane (house G) - asking price £400k: Same room sizes as house A plus loft conversion with ensuite. Good condition and mordernised. Might just need a lick of paint.

Bufger

catwoman73 wrote: »

I fully understand the appeal of a home that is all developed and ready to move in to. However, it will only ever be a terraced house. It may take you some time and a fair bit of money to bring the semi up to your standards, but you will never be attached to neighbours on one side - priceless.

In your situation, I wouldn't discount the terrace. Living in a house with £30k of work being carried out is fairly disruptive - can you live with that? Do you enjoy DIY/finding tradespeople etc?

Is the terrace to your taste? Sounds like an easier move. You should also consider the construction materials of the two properties. I used to live in a stone built back to back terrace, ie neighbours on 3 sides. Never heard a sound from any of them.

Now I live in a 1950s brick semi and only have one set of attached neighbours. The walls are single brick and we hear the neighbours a lot more, much more instrusive.

I live in a 1930's terrace and the walls are so thick! i never hear my neighbours and they say they never hear our 2 young boys who are often screaming at bathtime

moneyistooshorttomention

vectistim wrote: »

I never like arguments along the lines of not being able to accept less than x because of a mortgage or an onward purchase - it doesn't affect the value of the property in question, suppose we take it to the extreme:
I can't take less than £10,000,000 for my holiday chalet despite the one next door having sold for £20,000 as I want to buy a penthouse in Belgravia.

Depends entirely on how much the prospective buyer wants the place I suppose....

But if someone HAS to have a certain amount for their place (for whatever reason - be it a negative equity situation on the one hand or the person needs a certain amount to be able to move on on the other hand) then they will just take it off the market if they don't get an offer of at least that amount. A lot of sellers simply aren't desperate enough to take less than they need for a place - and there aren't that many sellers out there at the moment in some places..:D

You pays your money and takes your choice - pay it and you get it or don't pay it and someone else will get it or it will be simply taken off the market until "better times".

Dan-Dan

True , money , every sale is different with different criteria , as you say , someone may not even need to sell , may be desparado , may be up for a right haggle etc etc

The risk is , whilst someone mulls over something too long , it could just dissapear from sale!

Slinky

Is this an academic question seeing that you've already had a survey done according to your signature?

bluedrop

Slinky wrote: »

Is this an academic question seeing that you've already had a survey done according to your signature?

No, this is for my sister. She is thinking about one property on the same road as mine and another nearby.

My house purchase has opened a new can of worms now - I will present them to the board shortly