Struggling to sell

Candyapple

My thoughts if I was buying this would be:

1. No lift - which would mean your market would be limited to young professionals who work in London.

2. Bedroom 2 at 10'4 x 6'11 is essentially just a box room. Also there are no pics of bedroom 2 in your listing.

3. Bedroom 1 at 10'9 x 9'1 again is a small double. I appreciate there's nothing you can do with regards to size, just saying this would put me off.

4. Pic 7 of your bathroom - where is the toilet?

5. Pics 4,15 and 16 are essentially of the same thing and unnecessary as you already have the outside shot in pic 1.

6. The low number of years left on the lease would bother me - how much will this cost to increase?

7. The service charge increasing and major works on the horizon again would have me running for the hills.

Ultimately it will come down to price. The low lease and major works coming need to be reflected in your asking price.

If you are getting 4-5 viewers a week, make sure you get the EA to ask for honest feedback.

Becks12

Candyapple wrote: »

My thoughts if I was buying this would be:

1. No lift - which would mean your market would be limited to young professionals who work in London.

2. Bedroom 2 at 10'4 x 6'11 is essentially just a box room. Also there are no pics of bedroom 2 in your listing.

3. Bedroom 1 at 10'9 x 9'1 again is a small double. I appreciate there's nothing you can do with regards to size, just saying this would put me off.

4. Pic 7 of your bathroom - where is the toilet?

5. Pics 4,15 and 16 are essentially of the same thing and unnecessary as you already have the outside shot in pic 1.

6. The low number of years left on the lease would bother me - how much will this cost to increase?

7. The service charge increasing and major works on the horizon again would have me running for the hills.

Ultimately it will come down to price. The low lease and major works coming need to be reflected in your asking price.

If you are getting 4-5 viewers a week, make sure you get the EA to ask for honest feedback.

Thanks for the thoughts! The bedroom size is pretty standard for purpose built two beds in the area. I saw loads of them when I was looking to buy this one. Most had small living spaces too which is why I went for this one!
I appreciate the lift issue, I got used to it but I'm reasonably fit. A couple of viewers have said they're not interested because of it. I liked being up high though as I'm a light sleeper and can't be having people thumping above me whilst I'm trying to sleep.
Will have a play with the photos, I can confirm there is a toilet, its just to the left of the sink!
The lease has been increased by others and it cost £7,900 plus fees which I understand isn't too bad.
They do ask for feedback but I only really get one or two a week saying anything. Room size, lack of lift and the lease have been commented on.
I'm having a catch up with my estate agent tomorrow and think I'll talk about reducing the price.

hazyjo

I don't think your lounge layout is the best - the table would be better in the window than the sofa (if it fits!).


I am sure your main probs are your bedrooms and the fact you're on the third floor with no lift.


Bed 1 is ridiculously cluttered with non-matching furniture. It's not an appealing 'master bedroom' - more like you'd expect a spare room to look. What's in Bed 2?


Don't think the main road helps either - is yours at the back, or is one side facing it? Not really sure.


(Used to know the area fairly well in the '90s - laughed along with the others at nearby 'Ha-Ha Lane' )


Good luck!

Aspiration

If the lease is costing£7900 potentially to increase it could be good for you to start the process of extending and then pay this cost for the buyer. Ultimately may be better to spend the money here then reducing further. Certainly worth chatting to the agent about in my opinion. If the major works end up being a £1000 it could be good to pay this also so you're selling already paid with the buyer benefiting from the upgrades. Again just some ideas, best to chat through with a couple of agents, good luck

kerri_gt

I would reduce the number of photos of the front of the property - one is enough to show what it's like.
The bedrooms do look cluttered though - esp bedroom 1 - as others have said it would be preferable if you could remove some of the draws or even remove the stuff on top of the wardrobes (put them in the loft area?) for viewings.
In addition, the communal garden is mentioned several times, yet I don't see any photos of it. If it's featured in the blurb as a selling point, have a photo.

Tbh overall it looks a nice flat for what it is (I'm not sure I'd advertise the views of City Airport - people will automatically worry about noise even if there isn't any). Have a look on some sites like Houzz in regards to staging and making it look lived in without being cluttered.

Also people will pay a premium for new build flats like they are doing nearby.

Extending the lease may put me off as a buyer as 'another hassle' when it's hard enough through the buying process so as others have said it may be worth investigating that.

3mph

It's very small, half the size of my 2 bed Flat but half the price. I guess flats are small in London, I'm in SW Wales.
But looks well presented. I suspect that its the market in the SE. since it says offers in region of I don't see reducing price will make much difference unless a big cut.

Mickygg

Oakdene wrote: »

Me too, my 3 bed terrace here in West Wales cost me £89,500

Posts like this don't help atall. Pointless.

Crashy_Time

Mickygg wrote: »

Posts like this don't help atall. Pointless.

Not pointless, it shows how stupid London prices are. Better just put him on Ignore though...to be on the safe side

lessonlearned

Hi Becks

You said that you have had quite a few viewings. Getting them over the threshold doesn't seem to be a problem so it suggests that you are about right with your asking price.

However if you are getting a good supply of viewers and no offers then something is putting them off and you need to find out what so that you can fix it.

Who is doing the viewings, you or the agent. If it is the agent then you need them to give you some proper honest feedback.

What type of people are viewing, young or old, Male or female, single or couple. Who is your target market.

Why am I asking ....so you can tailor your flat to meet (and surpass) their expectations. That's what developers do. You need to sell the lifestyle that your would be purchaser aspires to. I'm guessing young professionals. So I think I know your problem. You are not selling the chic urban lifestyle they want to buy into.

You say you have some new build competition, Have you managed to view the show flats. I suggest you take a look at what they are up to, what are the latest trends and fashionable colours. Pick up the current vibe of what is selling and then copy a few of their ideas, incorporate them into your decor. Also take a look at their furniture layouts, see how they maximise light and space.

Your Lounge is a good size but you've not quite got the furniture layout right. You've got all the furniture against one wall, it does make the room look a bit impersonal, a bit Drs waiting room. Try "zoning", into a seperate eating area and a chill out area. The sofa should never block the window.

Re the bedroom, as others have said it looks terriby cluttered and cramped. You need to open it up. Can you remove some cupboards. Can you pack away your winter clothes for now. Those vacuum storage bags are brilliant. Have you tried Kondo style folding to minimise bulk.

Your bed is blocking the window, it needs turning round and going across the room, not lengthwise. And you should be able to access a double bed from both sides so it should not be placed against the wall, that screams small bedroom. Also you should never pile things on top of the wardrobe, it sends out a red flag that there is not enough storage. Aim for a more spacious feel and a boutique hotel look.

Bathrooms and kitchens sell houses and yours are a tad dated. But you can bring them more up to date with a few simple changes and some nice accessories. You don't need to spend much.

The bathroom looks a bit Spartan, it could do with a bit of luxury. Switch the shower curtain for a proper shower screen. The green is overpowering. If you want a strong colour then restrict it to one wall and maybe something a bit more sophisticated, maybe grey, aubergine or navy. Keep the other three walls white. Add a colourful print, some fluffy towels, posh toiletries and a plant or two. It will look a lot more luxurious and create that fashionable spa look.

The kitchen is a bit tired and a bit bland but you can bring it to life with very little outlay. That creamy colour is not doing much. I would suggest painting the window wall in an accent colour. Again Just one wall. Just a pop of colour would be enough add to lift the scheme a bit. The work surfaces are a bit cluttered and nothing really matches, the accessories are a bit haphazard and dotted at random. Try and go for a more coordinated look.

I would say there's nothing much wrong with your flat, it's neat and tidy but its just not quite hitting the spot. I think it needs to be a bit more sophisticated. A bit more urban chic. I don't wish to be rude but, the way it's presented now, its just a bit too studenty for the asking price. I think it just needs a bit more luxury and glamour to appeal to young professionals. They want cool city pads oozing hip modern style.

Apparently there is a communal garden....... Outdoor space in London is at such a premium, that should be the ace up your sleeve. Is it nice and well kept. Are you allowed to use it. If the answer is yes to both questions then that's your wow factor so you need to exploit this. Get the agent to do some nice outdoor shots.

Presumably you are still tied to your contract otherwise I would suggest taking it off the Market, resting it whilst you tweak the decor and then relaunching it when it's looking chic and stylish. Have a chat with your agent, tell them you want to make some changes and see if you can suspend viewings for a couple weeks. They should be able to accommodate you.

And definitely sort out the lease. That's critical. Lenders are very picky about short leases.

micky2phones

Becks12 wrote: »

I own a two bedroom top floor flat in Woolwich. Its been on the market nearly two months, I'm getting a steady stream of viewers but no offers. Its a newish build, internally its in good condition but the communal hallways aren't great.


I tried to post a link but it wont let me as I'm too new, obviously should have posted more and lurked less! Its on for £280k, initially was £290 but I dropped it after a few weeks as I wasn't getting that much interest. Its a two bedroom top floor flat with a loft. Both bedrooms are doubles. Lounge is very big, its bright and airy, views of City airport, quiet as its at the top. Not lift though.

There are a load of brand new properties in the area and they're getting snapped up almost immediately, but priced c. 200k more than mine. There isn't much similar for sale, but those which are tend to be priced similarly but tend to be ex council or a fair old walk from the stations. I'm 10 mins from a zone 3 mainline or zone 4 DLR (soon to be Crossrail) stations. Also ten mins walk from the Thames.
I'm not getting any useful feedback, things like the rooms are too small (the floorplan is accurate) or they don't like its top floor (it says top floor in the ad). Another comment is the lease is getting low which is the main catalyst for selling now. Its on 86 years so its getting low but isn't too bad.
So yesterday, I got a letter from the Management Company saying they're going to be undertaking "major works" on the property but they haven't said how much. I'm guessing its not going to be cheap. Some notes accompanied it from a meeting where minutes say that they're looking at putting an extra £1000 on the service charge per year on top of whatever they're going to be asking for now.
I really want to move, I want a garden and more space. My estate agent says the market is slow and they're getting interest in so no need to drop the price (again) yet. I had three valuations prior to putting it on the market and they all said it was valued 275 - 300.
I don't really know what to do, should I drop the price more? Or will these major works just stop me being able to sell full stop? My service charge is already nearly £2000 a year, if it goes up to £3000 I'm going to struggle even more. I wish I'd never bought a leasehold flat!

Hi, some good points made, as to rooms cluttered just move things out and take a photo, move them back.
Then explain at the viewing you can get more items in the rooms, if needed.