Sellers are valuing their house £130K above what they paid

couriervanman

OP as other's have said ......offer £300k and see where it gets you with the estate agent with future properties,sounds like your a bit jealous that the seller might make a few £££ on the sale

Nick_C

OP.

House prices in Coventry have risen by 19.5% in the last three years.

But you think this particularly house, which you really like, is only worth 11% more than three years ago.

Why?

Cakeguts

Samuel745 wrote: »

property-for-sale/property-74102146.html
Apart from the extra garage, i dont see what warrants it that value compared to other 4 beds


I called the EA again this morning telling and they think that the sellers would decline £300,000.



They also mentioned the market value for that house was £390,000.

I can't imagine why anyone would want to pay anything for that house. It has the world's number 1 problem. Shared access. If you look at the picture the grey bit in front of the garage is the offstreet parking for the house. The other coloured bit is the shared access for the house next door.


From looking at the photo I wouldn't be at all surprised if the shrubs in the garden on the corner of that house belong to the house next door and the boundary line of the plots follows the line of the grey coloured block work.



Those houses have all been squashed into that area and they all have really small backgardens. You would expect a true 4 bedroom house to have a family sized back garden not the tiny gardens these houses have.


In the description it mentions a private road. A private road means that the house owners are responsible for any repairs to the road.



Shared access like that can cause terrible problems if someone parks on it.



Can't you find a better house than that one with all its potential access problems?

[Deleted User]

To be honest, I'd want to have a close look at a plan. The seller has crammed a huge table, and two sofas in the dining area. This says to me not enough space to entertain and cook. To contrast, the Island is ridiculously small looks like it does little but get in the way in the walkway.

It might be four bed, but looks like the rooms are small. That's what you get with new builds. There's a large chest in the hallway? Why, is there enough storage?

It looks to me that, as with most new builds (or three year old new builds lol), lots of compromises needed - and not only on price.

But then I'm not keen on 'smart' new builds.

phoebe1989seb

Gosh, what a soulless, uninspiring house! I certainly wouldn't be paying even £300k for that [STRIKE]but then I'd not consider a characterless new build if it was the last house on earth.[/STRIKE]

The bedrooms in my 400 year old cottage are larger.

As for the shared access issue, that would sound the death knell for me.

However, if that's what it's worth - that's what someone will probably end up paying (or thereabouts). If I were the vendor I definitely wouldn't want to do business with someone offering me around £100k less than my AP.......

davidmcn

The floor plan is wrong (or they've taken photos of the wrong house) - the garage isn't attached to the house. What else is inaccurate?

SuperMoose

phoebe1989seb wrote: »

Gosh, what a soulless, uninspiring house! I certainly wouldn't be paying even £300k for that [STRIKE]but then I'd not consider a characterless new build if it was the last house on earth.[/STRIKE]

House does nothing for me either but I'd rather live there than in a hedge if it was the last house on earth :D

System

If you believe the seller's asking price is completely unreasonable, however much you like the house, best to move on and find a seller who is more reasonable. Best not to waste your time with greedy and unreasonable sellers - you are not able to negotiate a change in their personality.

pinkteapot

Samuel745 wrote: »

Thanks for these examples. I did come across these properties when searching for prices in the area. I guess my mentality will still taken aback by how much it could of increased in the past 3 years.

We sold a house last year for £140k more than we paid for it five years earlier, and we hadn't done anything to it. Sometimes that's the way the market moves.

As everyone else has said - look at current sale prices, not historical prices.

Also agree re not bothering to view houses that are very overpriced (compared to others on the market). In my experience the sellers aren't going to come down as much as you want - they're either convinced their house is worth that much, or have based their price on what they need in order to buy the next house they want.

wesleyad

Nick_C wrote: »

OP.

House prices in Coventry have risen by 19.5% in the last three years.

But you think this particularly house, which you really like, is only worth 11% more than three years ago.

Why?

price is 400 not 300 (48%) so does seem extremely high, but as others have said, can always be reason why this happens

edit. sorry see what you mean, he only want to offer 300. Yes agree with you that seems low for the area