Well Located House Not Selling. Wait, or What?

phoebe1989seb

TheProfessional said:

Lots of potential I'm sure but with steps like that to the garden it would be a definite no as I have a toddler. I'm not sure if I am the only one but only look at houses where it would be easy for small children to go in and out of the garden in the summer etc if I was in the kitchen say

Following on from my earlier post regarding the steps to access our cottage, I don't necessarily think that steps will always deter a buyer if the house is right in every other way - even if toddlers/small children factor into the equation......

DS and his partner bought their current house in 2019 when DGD was a year old. The rear garden is accessed by around 15 steps. As a consequence the property was slightly more affordable than other three bed period houses in Brighton, but tbh I don't think they even factored the steps into their decision making process.

Also, we sold a very old and characterful property in 2011 that had only two beds (and a bathroom we had added) on the first floor, but on the ground floor there were five (!!!) reception rooms and a conservatory, plus two shower rooms as well as the kitchen. We sold in ten days to buyers with five young kids (aged between one and thirteen) who intended utilising three of the ground floor rooms as bedrooms 😉

However, I should add that we priced extremely realistically to allow for the quirks!

Madmel

I drove past the end of the road this morning (before I saw this thread).  I have to agree with other comments about it seeming to be overpriced.
I know people who live close by on that estate but their house is semi-detached and more traditionally laid out with a level lawned garden, fully modernised and probably worth around the £300k mark.  Your friend's is detached but I am not sure who it would appeal to.  The buyer would need to spend a fair bit, which needs to be factored into the asking price.  Not much of Exmouth or indeed East Devon is flat but it is close to a bus service which goes into town and past the station.
As far as schools go, the primary schools in the area are almost all church-affiliated.  There is no choice round here! They are mostly good or outstanding.  The community college does not have the best reputation. It is absolutely huge. 12 years ago the head was very firm on specific matters and its reputation improved.  It is technically our local school; we looked around it with DD1 and I loathed the way he spoke about the place.  She begged me not to send her there.  We live almost at the edge of the catchment area so chose other options & both DDs have done really well.  For those looking to go private, there are options in Exeter which you can get to easily by bus or train.  Lots also go to the state grammar school around 20 miles away which has a dedicated bus. Compared to the London area, people here are less obsessed about schools.  Most kids go to the local primary, then the comp.
Exmouth itself changes depending on the season.  It's not bad now; there is a small pedestrianised shopping centre, all the main banks, a small cinema and a M&S food store.  There are some small family-run shops as well as chains.  Along Exeter Road there is the award-winning fish & chip shop where DH will be picking up this evening's meal in 3.5 hours.  In the summer, there are a lot of tourists so the arcades & bucket/spade shops ply their trade.  We tend to avoid it then and go further along the coast, closer to home.

Davesnave

Thanks for that snapshot, Madmel, especially the inside gen on the schools.

Crashy_Time

phoebe1989seb said:

TheProfessional said:

Lots of potential I'm sure but with steps like that to the garden it would be a definite no as I have a toddler. I'm not sure if I am the only one but only look at houses where it would be easy for small children to go in and out of the garden in the summer etc if I was in the kitchen say

Following on from my earlier post regarding the steps to access our cottage, I don't necessarily think that steps will always deter a buyer if the house is right in every other way - even if toddlers/small children factor into the equation......

DS and his partner bought their current house in 2019 when DGD was a year old. The rear garden is accessed by around 15 steps. As a consequence the property was slightly more affordable than other three bed period houses in Brighton, but tbh I don't think they even factored the steps into their decision making process.

Also, we sold a very old and characterful property in 2011 that had only two beds (and a bathroom we had added) on the first floor, but on the ground floor there were five (!!!) reception rooms and a conservatory, plus two shower rooms as well as the kitchen. We sold in ten days to buyers with five young kids (aged between one and thirteen) who intended utilising three of the ground floor rooms as bedrooms 😉

However, I should add that we priced extremely realistically to allow for the quirks!

Good move.

parcival

If it were me I would remove from market and re market in the new year with new agent and pics at £299,950. 

edgex

Davesnave said:

Thanks for the answers so far, many of them highlighting my concerns.

To answer a few questions, I'd say the outlook is preserved and my friend thinks there is enough leeway in the price to allow for the CH and updating of kitchen, bathroom etc, as similar properties have gone for around £375k this year. However, they may not have come with the landscaping challenges of this one.

There's room to put in a bath and the roof could be altered to give more space upstairs,

It needs more than that though... New ceilings, complete re-decorate, new electrics, etc. All the hassle of having the works done which means you can't really live in it at the same time.
The layout simply doesn't work; it needs a proper bathroom upstairs, if you use that downstairs bedroom as a dining room/office then it's only a 2bed...
If it's a family with primary age kids, then where's the garden?

Any roof alterations will mean the upstairs is unusable whilst that work is done.

It looks like an old peoples area, mainly bungalows around it. I don't think the seller, or the agent, know who their marketing the property to.

Less than half a mile away, & £45k less https://www.rightmove.co.uk/properties/97278341#/

Thrugelmir

The layout is dated. Looking at similar properties sold in the road previously.  Bed 3 is in reality the dining room. House was originally built as a 2 bed. Bathroom needs to be added upstairs. 

DairyQueen

I know nothing about the area but am a bit more positive than others on the potential of the property.

At the right price this could appeal to a single/couple with some cash to do the essential (IMO) changes to the layout. It looks structurally sound so it's mainly a cosmetic doer-upper.

The rear outlook is the great asset and it needs to be exploited. The layout doesn't work as a 3-bedder. I would review the price price based on the cost of:
- installing a decent bathroom upstairs. Not a major issue as the drainage and water are already there
- removing the wall between the kitchen and (ahem) 'bed 3' to create a large kitchen/diner
- replacing bed 3 window with French doors 
- removing conservatory and replacing with terrace as the conservatory just blocks the view at the back
- landscaping the garden - including installing a lower height rear fence
- upgrading shower room
- replacing kitchen and (possibly) removing existing back door
- replacing CH/fireplace and (possibly) windows
- cosmetic upgrades to all other rooms.

The result would be a conventional 2-bed layout with good-sized receptions, views over the park from the kitchen and terrace, and a second bathroom.

The hassle factor needs to be priced in as well as the cost of the work. I would expect IRO £75k discount off the expected price when upgraded. That's a finger in the air job.

Davesnave

edgex said:

Davesnave said:

Thanks for the answers so far, many of them highlighting my concerns.

To answer a few questions, I'd say the outlook is preserved and my friend thinks there is enough leeway in the price to allow for the CH and updating of kitchen, bathroom etc, as similar properties have gone for around £375k this year. However, they may not have come with the landscaping challenges of this one.

There's room to put in a bath and the roof could be altered to give more space upstairs,

Less than half a mile away, & £45k less https://www.rightmove.co.uk/properties/97278341#/

What you've just linked to is a perfectly nice SEMI with no downstairs bog, a poky kitchen and a conservatory pretending it's a dining room. It has a nice garden and views, so I suppose the -£45k could be used to extend, but it would still be a semi with a tiny bed 3......so personally, I wouldn't, but each to their own..

Davesnave

DairyQueen said:

I know nothing about the area but am a bit more positive than others on the potential of the property.

At the right price this could appeal to a single/couple with some cash to do the essential (IMO) changes to the layout. It looks structurally sound so it's mainly a cosmetic doer-upper.

The rear outlook is the great asset and it needs to be exploited. The layout doesn't work as a 3-bedder. I would review the price price based on the cost of:
- installing a decent bathroom upstairs. Not a major issue as the drainage and water are already there
- removing the wall between the kitchen and (ahem) 'bed 3' to create a large kitchen/diner
- replacing bed 3 window with French doors 
- removing conservatory and replacing with terrace as the conservatory just blocks the view at the back
- landscaping the garden - including installing a lower height rear fence
- upgrading shower room
- replacing kitchen and (possibly) removing existing back door
- replacing CH/fireplace and (possibly) windows
- cosmetic upgrades to all other rooms.

The result would be a conventional 2-bed layout with good-sized receptions, views over the park from the kitchen and terrace, and a second bathroom.

The hassle factor needs to be priced in as well as the cost of the work. I would expect IRO £75k discount off the expected price when upgraded. That's a finger in the air job.

Thanks for that. I agree it's a house looking for the right people. Not everyone wants to spend £350k on a spacious 2 bed of course, but older people can often have what they want and to hell with convention. That was our attitude, and we're pensioners.

The steps are supposedly an age thing, but the problem isn't insurmountable. I could fix it within the structure of an interesting layout.