Competing with Help to Buy

droiderm

I live on a large new build estate.
I moved in just over 5 years ago , and looking to put my house on the market within the next month.

I am keen for a quick sale but starting to get the realisation that's going to be very tough, unless it's priced extremely low. We are also happy to move in with a family member short term, to effectively be no upper chain.

There are numerous same house types on the second hand market for anywhere between £157k and £170k. They just don't seem to be selling .

The builder is also still building these house types for anywhere between 170k and 180k. Obviously help to buy will be available so I can see why buyers may be flocking to those.

I was originally hoping to achieve 165k at the upper end and 160k at the lower end .

A same house type sold in my street for 158k in June last year, but that was a mid terrace and ours is an end terrace.

I think I am being a little more pessimistic by the amount of second hand houses unsold at the moment
and the new builds .

I haven't spoke to an estate agent yet but does it seem that 160k seems realistic? I know that's not an easy answer to give but appreciate any views.

Thanks

epinjy

Good luck with that one. I'm buying a 1980's 2 bedroom semi for £160k~. The most similar you can find new build around here is 200+ more like £220k. I would very much think that those buying with help to buy are buying at inflated prices and there's a good chance they'll have to take the hit if they sell on within a few years.

Cakeguts

Don't do your comparison to other second hand new houses of the same type. Do your price comparison with houses with the same number of bedrooms in the general area.


For example if the most you can get for a house not on the estate which is an end of terrace like yours and with the same number of bedrooms is £158k then you are not going to get anymore for your now second hand house. New houses have a premium on then anyway even if they are not offered with help to buy so you would have paid more for your house when it was new that you would have for a 2nd hand one.