Is this house too risky?

ScorpiondeRooftrouser

Help1234 wrote: »

Hi all,

Thanks for all your comments. I agree the street view makes it look like a total dump. But the streetview is from 2009 and it's very different now. The flats/houses are mostly all complete, with just a few finishing touches being done to some right at the end of the road. I would predict everything to be done in probably around 3 months or less. It looks complete to me already but there are still some builders there. Therefore I can already see how it is going to be. These flats/houses all have their own parking as well so we don't expect the parking to become worse.
I will see if I can try and upload photos of the street how it is now.

There will not be enough. Trust me on this.

Help1234

martinthebandit wrote: »

The three previous offers that fell through would worry me.

I would be concerned that the surveys they may have had done had flagged up something untoward.

I'm not sure that is true - I don't believe there has been 3 offers. I think it is the estate agent is trying to justify why the property has been on the market so long. My partner asked the vendor directly if she had received any offers and she never mentioned anything about these 'three' offers. The estate agent also is claiming there are 3 viewings booked in over the next week, which I suspect is also 'phantom'.

Help1234

ScorpiondeRooftrouser wrote: »

There will not be enough. Trust me on this.

Possibly, but due to our budget, all the streets we are looking at generally have poor parking, so this may just be a bit of a sacrifice we have to make.

bxboards

Help1234 wrote: »

I'm not sure that is true - I don't believe there has been 3 offers. I think it is the estate agent is trying to justify why the property has been on the market so long. My partner asked the vendor directly if she had received any offers and she never mentioned anything about these 'three' offers. The estate agent also is claiming there are 3 viewings booked in over the next week, which I suspect is also 'phantom'.

The house as I said before is simply over-priced. 3 years nearly unsold tells it's own story.

The updates photos look a bit better, but honestly - and I hope you don't mind me saying so, the place just looks relentlessly grim. No greenery, just new brickwork and no character whatsoever.

There is a reason it's not sold. Don't just buy it because it's all you can afford. You can find a much better house with a better aspect, and probably pay less for it too.

Cakeguts

It is at least £10k overpriced. You can buy a much better house in Elworth for less than that one. This one for example that is marked sold http://www.rightmove.co.uk/property-for-sale/property-65856185.html or

this onehttp://www.rightmove.co.uk/property-for-sale/property-53638300.html

or this one http://www.rightmove.co.uk/property-for-sale/property-47237349.html

I would think that a fair price for the house that you are looking at would be around £100k even when the area has been improved. There will be a top price for a 2 bed terraced house in Elworth. Sandbach appears to be more desirable and so therefore more expensive.

Help1234

Thanks for your replies - it is really helpful to get unbiased views as our families are biased due to being keen to see us buy a house.

The houses you sent on London Road and Station Road are incredibly busy main roads so not suitable for us due to having a cat.

The other house would be more suitable but we preferred the current house due to it having a separate dining room and ten bedrooms are larger - both able to fit in double beds and plenty of furniture such as wardrobes.

Or do you think it is better to value street appearance over room sizes and space?

Many thanks

Help1234

Thanks for your replies - it is really helpful to get unbiased views as our families are biased due to being keen to see us buy a house.

The houses you sent on London Road and Station Road are incredibly busy main roads so not suitable for us due to having a cat.

The other house would be more suitable but we preferred the current house due to it having a separate dining room and the bedrooms are larger - both able to fit in double beds and plenty of furniture such as wardrobes.

Or do you think it is better to value street appearance over room sizes and space?

Many thanks

boliston

I would say the main advantage is being so close to the station and being in a non estate road** - apart from the station there does not seem to be much in the way of shops or even pubs (there is just a boarded up pub) which could be a disadvantage - i always tend to look at location before anything else as you can improve a property but not a location.

** just noticed this property which is the sort of characterless house and road type that i would avoid at all costs http://www.rightmove.co.uk/property-for-sale/property-65856185.html

Cakeguts

Help1234 wrote: »

Thanks for your replies - it is really helpful to get unbiased views as our families are biased due to being keen to see us buy a house.

The houses you sent on London Road and Station Road are incredibly busy main roads so not suitable for us due to having a cat.

The other house would be more suitable but we preferred the current house due to it having a separate dining room and the bedrooms are larger - both able to fit in double beds and plenty of furniture such as wardrobes.

Or do you think it is better to value street appearance over room sizes and space?

Many thanks

Every street has a price over which nothing will sell.

This house http://www.rightmove.co.uk/property-for-sale/property-65856185.html is in a much more attractive area. The road doesn't go anywhere, the asking price was £10k less and it is a more modern house. With this comparison it means that the house you are looking at will have a fair price of less then £115k which means that at the moment it is at least £10k overpriced.

The house you are looking at is a through road and will have much more traffic on it due to more houses. From the pictures you have sent even when the industrial units are redeveloped that area will never be as nice as the one where the house as the one £10k under. If you buy a house that is overpriced and you need to sell it you will have the same problem as the people selling it now and that is before you spend any money on it. If you spend money on it you will make it even more overpriced.

Have you considered that with the new housing there will be a huge increase in traffic which means that your cat will run the same risk as any other busy road in the area?

Why the rush to buy? If you wait a bit you might have the chance to buy a better house in a better area.

Cakeguts

https://www.rightmove.co.uk/property-for-sale/property-48312078.html What causes the difference in price between these two houses do you think? http://www.rightmove.co.uk/property-for-sale/property-65939933.html