Unsure what I want, plus couple of houses opinions requested

danlightbulb

So, I was previously talking about character, and the small gap between something pretty crap and something exceptional?

https://www.rightmove.co.uk/property-for-sale/property-67376316.html

I couldn't believe it when I saw that. How can that be £200k, given what I've been finding for £180k?

Its a little too far in the wrong direction for me, but the area is reasonable. Such fine margins between something really stand out and something mediocre. Compared to that, how can anything I'm seeing at £180k match up? It even looks to be in excellent internal condition. Unless there is something structurally wrong with it, it won't stay on the market long I'll bet.

markin

Only the deluded really expect to get the asking price, You seem to be looking at the price as a fixed number, always start at 10-15% below and meet in the middle, until you put in the offer you don't know what they really will take.

getmore4less

Shower would be fine with me, but could affect future desireability a little?

For the right place to meet your must haves means it won't fit what most people want from a property.

you really need to be focusing on what's right for you so you don't need to worry about resale as much.

GDB2222

danlightbulb wrote: »

So, I was previously talking about character, and the small gap between something pretty crap and something exceptional?

https://www.rightmove.co.uk/property-for-sale/property-67376316.html

I couldn't believe it when I saw that. How can that be £200k, given what I've been finding for £180k?

Its a little too far in the wrong direction for me, but the area is reasonable. Such fine margins between something really stand out and something mediocre. Compared to that, how can anything I'm seeing at £180k match up? It even looks to be in excellent internal condition. Unless there is something structurally wrong with it, it won't stay on the market long I'll bet.

They seem to have been cornered by a gravel salesman. How many lorry loads did they buy?

getmore4less

I am beginning to think you have completely misjudged the market.

There is not a lot out there and you are comparing cheap house that you don't want to houses you might want that are overpriced because they are not as cheap as the ones you don't want.

For a better vision on market value you need to be looking at the SSTC and sold through prices

going back to my guess search area 2/3beds upto £170k

there are for sale 51/92 SSTC that as a massive sell through ratio and an indicator there are plenty of buyers.

Go through the SSTC and find the ones that would have fitted and then watch for the sold though price when it hits the land reg.

using DY4 0QU and 1 mile 2/3b upto £170k
the numbers are 40/56

same area sold prices in the last 2 year starting at 170 going down

500+ houses have sold and 300+ were under £170k, go through those as that is what people are buying for upto 170

200+ are in the last year 100+ under £170k

in a lot of cases you can find the asking prices as well.

£185k Asking price from July 2019
£188k Sold Oct 2029

£170k Asking price Nov 18
[URL="httphttps://www.rightmove.co.uk/house-prices/detailMatching.html?prop=68696371&sale=9196807&country=england://"]£177k Sold March 2019[/URL]

I just picked two and was surprised both sold for more than asking.

I am sure there will be price drops as well but decent places are selling, it may be that your budget is just too low for what you want.

Bossypants

You're talking about character, but to my mind all that £200k house has over the bungalow you listed is size. None of the features, like the fireplace and staircase, look to be original, and the same could be picked up on eBay and installed in any house you like. I know, because I just knocked out a horrible 50's tiled electric stove monstrosity and put in a beautiful solid oak arts and crafts surround on a marble hearth, ready to put a free-standing wood burner in. It suits the house perfectly and people often comment on it, nobody can ever believe that it's not original. People often talk about character as though it's this thing which either exists or it doesn't, but in the right house, character is something you can build yourself over time.

My advice would be to take a step back in your expectations. Figure out the absolutely basics that you need and won't be able to change later, e.g. house size, garden size and location. Decide what your minimum (not ideal!) requirements are in those categories, and then view every single house that meets two out of three. When you do, try not to think about the details too much. You can repaint, put in new carpets/curtains/doors/etc later if you like, improve fireplaces, add nicer skirting, etc. Instead, focus on the 'bones' of the house: How much light is there, is it noisy, do the rooms feel comfortable in size and proportions. You will likely not find your absolute dream house, because almost nobody can afford their absolute dream house, but you will likely find that eventually, one house presents itself as head and shoulders above the rest in your estimation. A good indicator is when you find yourself comparing other houses you see to it and finding they fall short.

Good luck!

seradane

danlightbulb wrote: »

I couldn't believe it when I saw that. How can that be £200k, given what I've been finding for £180k?

So make an offer for 185 and see if they bite!

One of the things that was interesting to me when we were looking for a house to buy is the more I got to know my local market, my perception was that there seemed to be bands of value that weren't exactly linear. Some price brackets seemed to have a lot available, and felt quite good "value", others - despite being more expensive - felt like they didn't really offer much more.

From what you've been saying about your market, as it's a cheap area where people can't afford that much - the difference between 180k and 200k is huge, as there's no way for a lot of people to stretch that extra 20k. So while yes it's not much - if people looking for that sort of property can't afford it, it may as well be 500k more expensive!

NaughtiusMaximus

danlightbulb wrote: »

So, I was previously talking about character, and the small gap between something pretty crap and something exceptional?

https://www.rightmove.co.uk/property-for-sale/property-67376316.html

I couldn't believe it when I saw that. How can that be £200k, given what I've been finding for £180k?

Its a little too far in the wrong direction for me, but the area is reasonable. Such fine margins between something really stand out and something mediocre. Compared to that, how can anything I'm seeing at £180k match up? It even looks to be in excellent internal condition. Unless there is something structurally wrong with it, it won't stay on the market long I'll bet.

I noticed when we were house hunting in 2017 that house prices that side of Dudley do drop when comparing like with like, I presume because it's that much further away from the motorway and rail networks and also from the centre of Brum compared to other parts of the Black Country so making it less attractive for people who commute any distance. The same house in the same type of area (in terms of how nice an area it is to live) in Halesowen for example would probably go for at least 20-30k more.

Bossypants

seradane wrote: »

From what you've been saying about your market, as it's a cheap area where people can't afford that much - the difference between 180k and 200k is huge, as there's no way for a lot of people to stretch that extra 20k. So while yes it's not much - if people looking for that sort of property can't afford it, it may as well be 500k more expensive!

This. It's an easy trap for house hunters to fall into (I did myself), because the figures one is dealing with are so large that it feels easy to just tack on another £25k or £50k. The trick IMO is to step back and think about what that £25k means to you in real terms: How long would it take you to save it, and what could/would you do with such an amount if you weren't buying a house?

getmore4less

Lets look at the forsale/SSTC numbers in the draw area I used previously.

prices all.........2b......3b......4b+
0-050 005/009 00/03 02/003 00/00
0-100 061/065 00/03 05/012 00/00
0-130 098/114 54/58 20/034 00/02
0-150 131/160 69/76 38/061 00/02
0-170 160/205 75/79 59/102 02/03
0-200 185/248 75/80 79/140 07/07
0-max 229/279 77/80 88/147 38/30

2 beds are maxing out around £150k 3 beds around the £200 mark
looking closer at that 3 bed market.

From £140k the No.of SSTC and the Delta from the previous band

150 16/022 (previous from 100k, 3,6,3,13,14,14)
160 28/045 23
170 37/063 18
180 49/079 16
190 54/090 11
200 56/102 13
210 56/104 02
max 66/108 04

healthy sales up to £200k on 3beds.
fairly evenly spread from £120k with a peak in the 150-160 of 23.