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Would a landlord buy what would appear to be overpriced for the street?

SusieT
Posts: 1,267 Forumite


I am musing at the moment. I have a house let on an AST (yes, deposit protected, safety certs in place, rent brochure given, visual electrical check, legionaires assessment done, smoke alarms in etc - and the Tax man knows it is let!!)
I want to sell the house and it would go on at a price that would appear to be higher than other properties in the area are selling for. The reasons for this are that I had damp course and wood treatment done (with a guarantee that is for another 20? years), safety glass in the upstairs windows, floor joists replaced along with the kitchen floor now being new, the slate roof redone a couple of years ago, and a new boiler in 2017.
Current rent is £425 and I would be looking to sell for £70k It is in an area where voids are short on change of tennants.
So, is the fact that it would be possibly 10k more than others in the area put off a landlord? I do not want to cancel the AST as they seem to be good people to have in the house, so prefer to sell to a landlord who would probably appreciate them!
I want to sell the house and it would go on at a price that would appear to be higher than other properties in the area are selling for. The reasons for this are that I had damp course and wood treatment done (with a guarantee that is for another 20? years), safety glass in the upstairs windows, floor joists replaced along with the kitchen floor now being new, the slate roof redone a couple of years ago, and a new boiler in 2017.
Current rent is £425 and I would be looking to sell for £70k It is in an area where voids are short on change of tennants.
So, is the fact that it would be possibly 10k more than others in the area put off a landlord? I do not want to cancel the AST as they seem to be good people to have in the house, so prefer to sell to a landlord who would probably appreciate them!
Credit card debt - NIL
Home improvement secured loans 30,130/41,000 and 23,156/28,000 End 2027 and 2029
Mortgage 64,513/100,000 End Nov 2035
2022 all rolling into new mortgage + extra to finish house. 125,000 End 2036
Home improvement secured loans 30,130/41,000 and 23,156/28,000 End 2027 and 2029
Mortgage 64,513/100,000 End Nov 2035
2022 all rolling into new mortgage + extra to finish house. 125,000 End 2036
0
Comments
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Not to burst your bubble, but the sad fact is that very few people are going to pay extra for work done unless the work done will noticeably improve their day to day use of the property (e.g. adding substantial living space via loft conversion or similar). The things you've listed are just regular property maintenance items, which need to be done (or something similar) in many properties at some point, they aren't really 'extras', just things people expect to have been done as and when needed. I'm in a similar situation, I redid all the windows and external doors in my place as they needed replacing, but now that I have to sell unexpectedly, the (significant) cost is totally lost to me. I've accepted that and been glad to enjoy the new stuff while I lived here.
As for whether landlords would pay extra in any event, I doubt it. Landlords are business people looking for business opportunities at the best price they can get them, they aren't going to 'fall in love' with any aspect of your property which might induce them to pay more.0 -
Bossypants wrote: »Not to burst your bubble, but the sad fact is that very few people are going to pay extra for work done unless the work done will noticeably improve their day to day use of the property (e.g. adding substantial living space via loft conversion or similar). The things you've listed are just regular property maintenance items, which need to be done (or something similar) in many properties at some point, they aren't really 'extras', just things people expect to have been done as and when needed. I'm in a similar situation, I redid all the windows and external doors in my place as they needed replacing, but now that I have to sell unexpectedly, the (significant) cost is totally lost to me. I've accepted that and been glad to enjoy the new stuff while I lived here.
As for whether landlords would pay extra in any event, I doubt it. Landlords are business people looking for business opportunities at the best price they can get them, they aren't going to 'fall in love' with any aspect of your property which might induce them to pay more.
Good luck with selling yoursCredit card debt - NIL
Home improvement secured loans 30,130/41,000 and 23,156/28,000 End 2027 and 2029
Mortgage 64,513/100,000 End Nov 2035
2022 all rolling into new mortgage + extra to finish house. 125,000 End 20360 -
It is not too bad a yield, but a Landlord is not going to buy one for 70k if they can get one down the street for 60k with the same potential rent.
Well maintained is a bonus but it isn't going to change the price much.0 -
It is not too bad a yield, but a Landlord is not going to buy one for 70k if they can get one down the street for 60k with the same potential rent.
Well maintained is a bonus but it isn't going to change the price much.
Thank you. Yes the yield is ok, but I think I may look after my property rather better than a lot of other landlords in the area, hence hoping the difference would be ok. Next week I will have a chat to a few locals and see if they know anyone.Credit card debt - NIL
Home improvement secured loans 30,130/41,000 and 23,156/28,000 End 2027 and 2029
Mortgage 64,513/100,000 End Nov 2035
2022 all rolling into new mortgage + extra to finish house. 125,000 End 20360
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