Ever made a big mistake buying property?

redandwhitestripes

A lot of good points, thank you.

I think marketing it as a 3 bed with extra space as some have suggested is the best way forward.
I think the house would work in that respect - 3 beds , living room, small dining area and another room like a 'den' or something like that would be much better.

Appreciate the comments and giving a fresh look on things.

ScorpiondeRooftrouser

That is the smallest "5 bedroom house" I have ever seen.

Do you realise the floorplan shows that you can only get into the back downstairs bedroom by going out into the garden through the kitchen and back through an exterior door?

TBeckett100

If you are selling at a ceiling price then it has to be the best in class. To be honest, the house doesn't have a family feel to it and will therefore put a lot of people off, especially as it has the feel of local authority and dare I say will require a new kitchen, bathroom etc.

I certainly wouldn't lower my dangly bits in a bath not knowing who has been in there before me.

To compensate the work that needs doing to bring it back to a family home, it needs to be cheap. Otherwise you need to hope for an investment buyer but they may be thin on the ground if it looks like they need to spend money on it soon

GaleSF63

redandwhitestripes wrote: »

but the parking is a bit tight.

The parking is indeed a bit tight; and it isn't near the house. That probably puts a lot of viewers off and they won't realise till they go there.

haras_nosirrah

I agree this screams student let - either nurses or university

I would make it 4 bed/ 2 bathroom and turn one of the downstairs bedrooms into a bathroom if it was me. Students tend to eat in their rooms or stick a table in the lounge at the back.

You do need to update the kitchen and bathroom a bit. Doesn't have to be major refurb for this market but something a little better.

I would give it a go. Find out what student lets go for. Maybe go for nurses as you have missed this academic year. Get the place up to scratch and get some adverts into hospital accommodation.

Dird

silvercar wrote: »

Is this it?

http://www.rightmove.co.uk/property-for-sale/property-36656691.html?premiumA=true

http://www.rightmove.co.uk/property-for-sale/property-55063448.html

before the repainting = before you bought it? If so I don't think it looks any better at all after you repaint. A clean magnolia isn't better than a clean red/blue...it's only the kitchen where the wallpaper had worn away but you still left it with rubbish kitchen units

Pixie5740

I agree with what others have said, this property screams HMO rather than family home. You seem to have ruled out renting it as an HMO but if you do your homework HMO's can be lucrative. Especially since the property is near both a hospital and a university.

If you can't get it sold then it's worth considering.

Nithaa

Whilst a good price for a five bed, despite proximity to the uni, very few students live that side opting for the east side of campus. The property is smack bang in the middle of a fairly large council estate which is mainly home to low/no income families.

Hopefully you'll attract a btl buyer who is looking to appeal to the long term renters who don't qualify for council accommodation. Or you may find a student landlord who specializes in postgraduate rentals who tend to be less concerned with living close to the city.

kinger101

A five bedroom house that is 827 sq ft? Remove lots of walls and make it a 2 or 3 bed.

moneyistooshorttomention

kinger101 wrote: »

A five bedroom house that is 827 sq ft? Remove lots of walls and make it a 2 or 3 bed.

I hadn't clocked that one:eek:

They gotta be kidding if so.

Mine is about 1,000 square feet and its just 2 bedrooms - so I'm there feeling astonished at some new-builds near here cramming 3 bedrooms and 2 bathrooms into around 950 square feet. 827 square feet is my definition of a one bedroom house personally.