Sale fell through - Back on the Market (mostly a rant)

Crashy_Time

So you sold for 34k less than you bought for three years ago? I imagine that would be quite troubling to more than a few posters on here.

jonners666

Crashy_Time said:

So you sold for 34k less than you bought for three years ago? I imagine that would be quite troubling to more than a few posters on here.

32K

Yes - I laid that out in the OP. It’s not ideal, but we made 60k+ on our first sale 3 years ago, so we had the equity to do this in order to sell quickly.

 Ultimately, we sold at a price that allows us to buy a bigger place in a more convenient area for us, with minimal extra cost - a house we can now live in for 10 years. 

In fact with the reduction in childcare cost that will come with our relocation, we will be saving over £200 a month even with the slight increase in our mortgage cost. 

Splatfoot

Just ignore him, he likes to antagonise 

lillypoo

Splatfoot said:

Just ignore him, he likes to antagonise 

to a relative newbie he actually appears to gloat and rejoice in other peoples misery or misfortune

Splatfoot

lillypoo said:

Splatfoot said:

Just ignore him, he likes to antagonise 

to a relative newbie he actually appears to gloat and rejoice in other peoples misery or misfortune

I know, shame. Maybe he's less noxious in real life. 

Crashy_Time

lillypoo said:

Splatfoot said:

Just ignore him, he likes to antagonise 

to a relative newbie he actually appears to gloat and rejoice in other peoples misery or misfortune

The disdain is reserved for the property bubble in general, a bubble which is stopping key workers like nurses for example buying a decent home at a decent price in an area they want to live in, not really individuals who are caught up in it. Property bubbles benefit bankers not ordinary people. I am very pleased that the OP has worked out a good financial result for themselves in this case.

Crashy_Time

jonners666 said:

Crashy_Time said:

So you sold for 34k less than you bought for three years ago? I imagine that would be quite troubling to more than a few posters on here.

32K

Yes - I laid that out in the OP. It’s not ideal, but we made 60k+ on our first sale 3 years ago, so we had the equity to do this in order to sell quickly.

 Ultimately, we sold at a price that allows us to buy a bigger place in a more convenient area for us, with minimal extra cost - a house we can now live in for 10 years. 

In fact with the reduction in childcare cost that will come with our relocation, we will be saving over £200 a month even with the slight increase in our mortgage cost. 

Will you be overpaying again by buying now though?

lillypoo

if a property provides you with a safe healthy happy joyous home filled with love and memories theres no such thing as over paying 

Crashy_Time

lillypoo said:

if a property provides you with a safe healthy happy joyous home filled with love and memories theres no such thing as over paying 

You could get that by underpaying though? And have more money left to spend on yourself....?

Crashy_Time

AdrianC said:

jonners666 said:

Also (not sure if you can edit posts) when I look on Rightmove at what has sold, it seems to me that our house is more attractive than others that have sold for 350-375... but of course I'm biased

The trouble is that buyers don't agree... You've given them plenty of chance to do so, and they simply don't.

It's this one, right?
https://www.rightmove.co.uk/property-for-sale/property-72784524.html

There's nothing really going against it in the listing - but there's nothing to exactly excite, either.
The location... nice little green (but who pays for maintenance?), then right onto the A4.
Two decent size bedrooms, and a tiny box (so small there's no photo of it).
You say there's no parking issues, but Streetview and satellite shots show cars parked in the roadway around the loop, and just 22 parking bays for 35 houses and 6? flats.

If people don't need a usable-size third bedroom, there's plenty of much more enticing two-bed properties at around that price, with parking.
If people are happy to view that box as a third bedroom, or as a study/home office, then...?
https://www.rightmove.co.uk/property-for-sale/property-96771836.html - £10k cheaper, end of terrace
https://www.rightmove.co.uk/property-for-sale/property-69115962.html - needs paint, but unsold since March, so what would they accept?

40k knocked off the last one so far, what was the seller thinking at 390k! And who is buying this sort of property at these prices?