Well Located House Not Selling. Wait, or What?

Davesnave

I normally throw in my 2p worth on the forum with fair confidence, but I’m slightly worried advising a friend regarding the sale of their house, which hasn’t gone quite as planned. It’s in an area of the county I don’t know so well, and as I enjoy a farming-based lifestyle, it’s not the sort of property that excites me. However, I don’t wish to be overly harsh; I just want to know what others might say to the question: “What do you think, Dave?’

 It seems house went on sale in late summer at £335k but missed the ‘Covid rush’ to this region, or the price was set too optimistically. Up-together and clean, I know the property needs some updating, but it’s in a smart suburban area with green space behind, easily accessed, and by car the 3 mile Exmouth beach is minutes away. City facilities in Exeter are only 10 miles.

 A quick Rightmove search finds nothing comparable nearby at or close to the asking price now of £325k. There’s been one offer close on £300k, which in view of the above seems too low and wasn’t accepted. Is it now just a case of waiting for the traditional spring upturn in interest, especially when people realise the Covid thing will be continuing for some time…..or what? Obviously, everything sells at a low price, but my friend’s now comfortably situated and able to pay for their new accommodation without a sale for another 6 months or more.

 Anyway, here’s the property:

 https://www.rightmove.co.uk/properties/72215694#/

 I can see one or two drawbacks, which would irk me to some degree, but I’d rather see if others also mention them before saying what they are and how large a weighting to give them in replying to my friend.

babyblade41

Just had a quick look so forgive me if I'm wrong.  The rear puts it off for me re: steps down to garden area.. and the conservatory ..

I certainly have no knowledge of the area so price is something I can't comment on.

It would be a no for me whatever the price but that is because steps are just a no go 

JGB1955

From my perspective the property doesn't seem to fit into the 'retirement' category nor the family home category.  It's somewhere in-between.  The downstairs bathroom and bedroom fit the first category, but that is negated by the steps to the garden.  The heavy hard-landscaping of the garden, the downstairs bedroom and lack of a bath might put off families.  
I would be looking at putting in central heating, a new kitchen, upstairs shower room.... and that's just a start.

Silvertabby

It's very dated, so I expect that viewers aren't just looking at the asking price - they are also factoring in the cost of a new kitchen and bathroom(s) as well as the removal of those built in cupbards and old fireplace, plus redecoration.  That could well add up to more than the higher asking price of a more ready to move in house.

Tiglet2

I don't know the area, so I have no idea whether or not £325 is a fair price.
Some things I have noticed:  

Are those storage heaters, therefore no central heating?
No shower/bath upstairs
Only a shower downstairs, so may not appeal to families with young children.  Is there enough space to add a bath if needed?
Two beds upstairs, one bed downstairs so may not appeal to families who want to be on the same floor.
Lots of steps so may not appeal to the retired.  The downstairs bedroom could be a dining room, but then it would be a 2-bedroom house.
It's obviously a do-upper, does the price reflect that?
It's lovely to have the trees at the back, but what is that area?  Is it protected from future development?
Conservatory looks cold
Garden is small so not much scope for enlarging/extension
Driveway looks narrow
Street lamp right outside the bedroom window.

It wouldn't appeal to me unfortunately, but then I'm getting on a bit and the thought of those steps would be enough to put me off!

AdrianC

Is it getting viewings, just no offers? Or no viewings?

It's not a looker, and it's got the disadvantages of a bungalow without the target-market advantages. And, in Exmouth with a raised-level sunroom/conservatory like that, you could definitely get better views. But, of course, coastal is going to carry a premium.

It's empty, so spending a little bit of money on slapping a coat of paint around and changing those carpets would not be hard - and would definitely improve the appeal. Likewise a quick bit of gardening to get that gravel de-weeded.

Is there really no central heating? Again, might be worth investigating install.

There's not much in the way of comparables... but how about...?
https://www.rightmove.co.uk/properties/76120119#/ - +£15k, 4-bed character semi, nicely presented, view
https://www.rightmove.co.uk/properties/97982462#/ - +£10k, terrace next to pub, nicely presented, view 
https://www.rightmove.co.uk/properties/72792600#/ - +£5k, semi, very nicely presented.
https://www.rightmove.co.uk/properties/89859383#/ - -£25k, listed terrace, beautiful, view.
https://www.rightmove.co.uk/properties/85730857#/ - -£30k, character terrace, no need for immediate update.

GDB2222

"This substantial detached three bed chalet bungalow"  - it's really a contradiction in terms, isn't it? It's not a bungalow, and it's not a proper family house. I like the aspect to the rear. 

warby68

I don't like the back at all, the steps, the garden, the high up conservatory and it makes it very hard to use a back door. I don't mind a small garden but do like easy in and out.
No bathroom upstairs and no bath anywhere with no obvious room.
Absolutely everything needs updating so is it priced for that?
I just can't easily see who will be in the pool of buyers unless the location trumps an awful lot. Its neither a retirement or a family layout particularly and is not a starter home either.
Overall the layout and design just don't appeal and I can't think of much to make it better either even with new everything.
I'm really struggling for pluses and that wouldn't be  easy to say to a friend, sorry.

Doozergirl

One small shower room for three decent sized bedrooms might put people off.
 

RelievedSheff

I'm struggling to pin point the properties target market. It isn't a very family friendly property and the steps to the garden would make it difficult for more elderly folks.

It certainly requires a good degree of work and updating to make it a comfortable home, does the price really reflect the amount of work required? I don't know the answer to that but given the lack of offers I suspect not.

It is certainly an odd property and won't be to a lot of people's taste. It will suit a very limited few people and it is a case of attracting those few.

Soot2006

Bit of a marmite house.  There are many things I like about it and you say it's a good area.

My main issues are: downstairs layout. Having the only bathroom far away from the bedrooms is annoying. And there's no bath tub.  I have the same problem in my own place (converted bungalow) so I know I can live with it, but my bathroom is bigger and has a huge tub so it's easier to lock yourself in and forget you're downstairs ...  We also have two downstairs bedrooms although we don't use them. When we first moved in it felt like a huge compromise, but since we got a new boiler and the house is lovely and toasty all the time, it doesn't bother me so much. Doesn't look like this house has central heating which is a big initial cost and most people would factor that into an offer.

I'd probably use the downstairs bedroom as a home office, and I love how it opens into the conservatory space which I think would make it a very light and pleasant space to spend my days in. I generally like that conservatory room.

The garden I hate. To me, it looks like a quarry.  I see that as a project but it would definitely impact my feelings about house value etc.

Upstairs is fine, although a pity there's no ensuite for a quick shower.

Generally, the whole thing needs redecorating, central heating, which would make me think it might need some wiring too. So definitely a doer upper, and I'd expect it to be on the lower end of the price range for the area. Around here (brighton) you could probably add on £50k and see it snapped up so everything is relative!