Opinions on my house

Hutch100uk

FitzWilliams wrote: »

I went to see the show houses in your neighbourhood a few months back. I really liked the inside of the houses but the area was very dead. It just didn't have a nice feel to it. Too close to the older style houses that didn't have the same look so made the area feel mismatched. The sales lady said a primary school was due to be built close by so that might drum up some interest for families. So it might not be your house as such but the neighbourhood itself.

The sales lady seemed very desparate to tell us everything little detail about the area and the houses so maybe even the developers are struggling to sell. That being said you shouldn't have turned down that offer 2.5k below asking at all.

You must have looked quite some time ago as the school has been open for 7 months now.
Obviously yes I wish I had taken that offer now, Hindsight is a great thing.

Hutch100uk

ReadingTim wrote: »

If you can afford to drop the price now, why not do so and get on with your life? You're hanging out for a buyer who, if the last 12 months are any guide, doesn't exist or can't go the distance.

The real question is actually, do you want to move house or not?

If you had read my other responses you would know why I can't drop the price now. EARLY EXIT MORTGAGE FEES.

Hutch100uk

Out,_Vile_Jelly wrote: »

OP, it's a sad reason for selling a house and a stressful situation for you.

Do you have to pay your parents back immediately? Could you grit your teeth, take a financial hit and focus on rebuilding your life?

Thank you, yes its very stressful and very worrying. Obviously I wish I had accepted that previous offer but as time has gone on, I can afford to accept less now, and less again in the summer.

I will obviously think carefully about future offers, even if it means being left with nothing.

Hutch100uk

n217970 wrote: »

If a house has not sold after a year then the price must be looked at, what makes it worse for you is that potential buyers will see it has been for sale for over a year and will assume there is something wrong with it. I would.

A few years back I tried to buy a house from a single parent in similar circumstances, failed relationship and selling of the family home which had been listed for sale for 6 months. The selling price had not been set on what the house was worth but how much each of them needed to start again. Needless to say my offer was rejected and despite some effort on my part they would not budge. It was over 12 months before it did actually sell - for £500 more then my original offer (but less then my final). I expect they paid out more then £500 in mortgage interest over those 12 months.

Its showing as having gone on the market in December as I changed estate agents.

Hutch100uk

lessonlearned wrote: »

Just had a look at both houses. I think they are both good, nice internal layouts and they seem a decent size. That additional reception room/playroom is a nice touch and a good sized kitchen diner.

Given a choice I would buy your house, over your competitors, because, apart from the price differential, yours is also a nice blank canvas for people to put their own stamp in.

I wouldn't worry about the competition, you might find that when people compare the two they will realise that yours is a bargain. Most people won't want to pay extra for a decorated house, they will have their own ideas. And they certainly won't want to pay an extra £10k.

Having said all that, whilst your house looks spotless, it does need a bit of life and colour. I appreciate you probably have very little money to throw at it, so suggest you start with friends and family to see what you can borrow then hit the chazzas, and the cheaper shops like Wilkinson's, B&M, Primark, Aldi, Asda and the Range. And if you have access good old IKEA.

Plants, flowers, throws, cushions, posters or cheap prints, rugs and don't forget the garden, get some cheap "colour" in there with easy fast growing annuals and a couple of cheap shrubs. The shops are full of them, you don't need to spend much but dressing the garden will help take off "the newness" off the outside.

At the moment your house looks a bit impermanent, a house rather than a home. You just need to add a few cosy touches to make it homely and inviting.

As for the price I don't know the area so can't comment but your house certainly stands up to your neighbours. I would definitely definitely go for yours.

Once you've dressed the house Get some new photos done. Not so many, and definitely ditch the one of the play park.

Thank you and I agree. I've already bought a large plant, small table for living room and put a couple of pictures up. A rug and a couple of vases and the living room already looks better. I will get some new pics taken ASAP and hopefully it improves the look slightly.

AdrianC

Hutch100uk wrote: »

If you had read my other responses you would know why I can't drop the price now. EARLY EXIT MORTGAGE FEES.

That doesn't mean you can't drop the price. You can. It'll just cost you to do so.


Right now, you have a choice.


1. Minimise the cost of moving on quickly.
2. Hold out for a long sale that may leave you evens.

Hutch100uk

AdrianC wrote: »

That doesn't mean you can't drop the price. You can. It'll just cost you to do so.


Right now, you have a choice.


1. Minimise the cost of moving on quickly.
2. Hold out for a long sale that may leave you evens.

Yes it will cost me to do so but as I have 2 children to re-house, I have to at least break-even. I literally have no spare cash to take a hit. I could potentially still owe my parents some money so that is an option. I'll give it another couple of months to see if I get any more offers.
I have removed the 'offers over' now on the listing.

AdrianC

Hutch100uk wrote: »

Yes it will cost me to do so but as I have 2 children to re-house, I have to at least break-even. I literally have no spare cash to take a hit. I could potentially still owe my parents some money so that is an option.

So there y'go. You can sell for "a loss", by deferring that part of the repayment you need to make.


Obviously, you need to repay the mortgage lender from the completion funds, but you do not have a 100% mortgage, so your crystallised losses bite into your equity.

By the way, I guess you didn't tell the lender that your deposit was loaned, but told them it was gifted...?

Hutch100uk

AdrianC wrote: »

So there y'go. You can sell for "a loss", by deferring that part of the repayment you need to make.


Obviously, you need to repay the mortgage lender from the completion funds, but you do not have a 100% mortgage, so your crystallised losses bite into your equity.

By the way, I guess you didn't tell the lender that your deposit was loaned, but told them it was gifted...?

Of course I didn't tell my lender that. Is this where I get the lecture "you're not supposed to do that.......". least of my worries right now.

lessonlearned

Hutch100uk wrote: »

Of course I didn't tell my lender that. Is this where I get the lecture "you're not supposed to do that.......". least of my worries right now.

:rotfl::rotfl:

Not from me.....loads of people do it. It's no biggie.

Good luck, Hope you find a buyer soon.