House not selling

Gav75

I tried to post this with a Rightmove link but it wouldn't work.


If you want to search for it, it's a 3 bedroom semi detached bungalow NE9 7TQ offers over £189,950. I inherited the house from my grandparents so it is very old fashioned. My nana was 99 when she died, so it has not had any modernisation for a long time.


Been up for sale for 5 months now. There were two smaller, 2 bed bungalows that recently sold on the estate for approx £180-£185k.


Two other bungalows on the estate have just gone up for sale, still slightly smaller than mine, but they are detached (mine is a Semi). One is £279,950 (its had a 4th bedroom added in the loft), and another for £250,000 that is 3 bed. So to me, mine seems like it will appear cheap......but I'm barely getting viewers, and when I do they say it needs too much work.


Granted, the other two bungalows are more presentable, but with at least a £60k saving on the other 3 bed house, ours has a much bigger plot and amazing views so I'm not sure what else I can do?


I know I could spend money doing carpets, plastering the walls etc, but I can't really afford it, and I'm not certain it would make it sell.


Maybe the problem is that I just need the right buyer, who can see the potential, and has the cash to do the work? Any advice would be appreciated.

Mojisola

https://www.rightmove.co.uk/property-for-sale/property-60411513.html

elsien

When you say it's not selling, are you getting views but no offers or are people just not coming to look at it?
If you're getting viewers, what is the feedback from the estate agent?
If you're not getting any viewers coming round, your issue is likely to be price.

Why isn't there a floor plan and why does it have a G EPC rating?
How is it heated?

Gav75

Hi. I'm getting viewers approx one every 2 weeks. As per my original post, I'm pretty sure price isn't the issue. All viewers say there's too much work they'd need to do.


It has a E rating, I would imagine because the heating system is an old back boiler style? Its fully operational but old.


Thanks

cattie

It wouldn't put me off as I've bought 2 properties in the past from elderly folk & both needed total refurbishment. Your bungalow, despite being dated looks quite well cared for & perfectly livable for anybody wanting to refurbish room by room.

Bungalows tend to fly off the shelves in the suburbs of London, especially when listed at a keen price, but it's obviously a little different in your location. So many people just love a property that is a project & allows them to create their perfect home. There will be a buyer out there somewhere & wonder in the meantime if it's worth your ea mentioning in the blurb that there's a great opportunity to add value & the possibility to extend too. Adding value appeals to those folk who view their house as an investment.

It isn't worth you spending money on it, there's too much to do & potential buyers will have their own tastes as far as interiors go. Hopefully now spring is on the way, it won't be long 'til somebody takes a fancy to it. I've always found spring the best time to sell, it seems to bring out the viewers.

Gav75

cattie wrote: »

It wouldn't put me off as I've bought 2 properties in the past from elderly folk & both needed total refurbishment. Your bungalow, despite being dated looks quite well cared for & perfectly livable for anybody wanting to refurbish room by room.

Bungalows tend to fly off the shelves in the suburbs of London, especially when listed at a keen price, but it's obviously a little different in your location. So many people just love a property that is a project & allows them to create their perfect home. There will be a buyer out there somewhere & wonder in the meantime if it's worth your ea mentioning in the blurb that there's a great opportunity to add value & the possibility to extend too.

It isn't worth you spending money on it, there's too much to do & potential buyers will have their own tastes as far as interiors go. Hopefully now spring is on the way, it won't be long 'til somebody takes a fancy to it. I've always found spring the best time to sell, it seems to bring out the viewers.

Hi, thank you. Yes, it definitely is livable. I lived there for a few months until the new year, everything works, it just needs some attention, new windows, doors, plastering and decorating.......that sort of thing. Thanks again

xylophone

When you say it's not selling, are you getting views but no offers or are people just not coming to look at it?

OP says

but I'm barely getting viewers, and when I do they say it needs too much work.

It looks neat and tidy enough - is there gas fired CH?

What is the "too much work" that needs doing? You mention "replastering" - is there a problem with damp or was there a heavy smoker in the house?

Does it need a complete rewire/replumb?

Would a local builder take it on as a "do up and resell"?

What does the estate agent have to say?

davidmcn

No floorplan, no mention of the heating system (though a few references to radiators, so I presume it's got gas CH).

Where are people getting the EPC rating of G from? Says E from where I'm sitting.

Gav75

xylophone wrote: »

OP says


It looks neat and tidy enough - is there gas fired CH?

What is the "too much work" that needs doing? You mention "replastering" - is there a problem with damp or was there a heavy smoker in the house?

Does it need a complete rewire/replumb?

Would a local builder take it on as a "do up and resell"?

What does the estate agent have to say?

Gas heating, but Back Boiler, not Combi.


No problems with walls except many are Wallpapered with Woodchip so the walls will be damaged when its removed most likely.


No issues with plumbing. Regards wiring, I'd probably do a rewire if I was buying it. House is from 1963 with original wiring.


Apart from that it needs new windows, interior and exterior doors, carpets, old fitted furniture removing. The usual stuff really. House is completely sound otherwise.


EA says we'll have a 'Review' on Monday. I feel she's just going to recommend reducing it, but I don't think that's a good idea.


Thanks

Gav75

davidmcn wrote: »

No floorplan, no mention of the heating system (though a few references to radiators, so I presume it's got gas CH).

Where are people getting the EPC rating of G from? Says E from where I'm sitting.

Ah yeah, it is E. Not sure where the other guy got G from. Cheers

Beenie

The house we bought was owned by an elderly lady. She had about 40 views in the first couple of months, but no offers. Everyone said it was dated and needed work. We came along and saw through all the problems, preferring to stay focussed on the location and potential. All we did was add up what we estimated the costs would be and deducted that from the asking price. It was about a 20% reduction. She accepted. Don't lose heart, a buyer will come along, but be prepared to take a hit on the sale price.