Selling house with HMO under construction next door

Slinky

Unfortunately for you, I've never ever seen anybody put 'next to an HMO' as being on their list of desirable attributes when listing what they are looking for in a new home. 

I feel for you, not a nice situation to find yourself in.

Justonemorecupoftea

I think you might need to be prepared to take a hit on the price if you want to move.

As others have said, the building work won't put people off necessarily, but once they find out what it's for (either via searches or when you declare it on the property information form) I would think some people will walk away, although some may be willing to negotiate.

Can you find out who bought next door and reach out to see if they might be interested in your property?

scoot65

As others have said, the building works, I'd have no problem with. A HMO next door ? That's a BIG no no for me  

As suggested by an earlier poster, it's worth approaching the developer and ask if he would be interested in buying your property to develop it too. You've got nothing to lose and it could by a solution to your problem.

A few months ago I sold my house to a landlord who'd put a flyer through the letterbox asking for properties to buy. The sale was a cash sale and was completed in four weeks. Yes, I could have got more if I'd marketed the property via an estate agent, but how many viewings with no offers and how long before a buyer would be found???

Six months later, that house is a distant memory and I've moved on with my life!

GaleSF63

Do you know how much this company paid for the house? High enough to make it worth your while approaching them about buying yours?

macman

The unknown in this equation is how desirable your own property is. An HMO next door is never going to make it more desirable, but if someone really likes it on it's own merits then that may override any concerns about next door.

Paully28

Wouldn't touch it with a bargepole. Unfortunately for you, I agree with others who said that the building work wouldn't be of concern, but I wouldnt even contemplate buying a house next to the HMO for homeless people as just not worth the potential hassle when there will be other properties available. 

NameUnavailable

Your best chance of selling is now. Not everyone will look into the detail of what is going on next door.

Market at a price that's going to get buyers interest - take a bit of a hit now rather than a possibly larger hit when the HMO is finished and occupied.

babyblade41

get it reduced now .. hopefully an investor will see the potential ..maybe get in touch with the one doing the renovation to see if it's something they would be interested in ??

I can't see you selling to a normal family with that next door , lets be realistic I can't think of anyone wanting to move next door to an HMO 

Were there many objections to the planning application ?? 

getmore4less

We had a property not too far from us get bought by a charity to turn into a  HMO 1/2 way house.

They ignored the planning requirements for parking now the neighborhood roads are a carpark for the support team that work at the place.

The issue for a potential buyer is the unknown.

Uncertainty deters buyers.

Now it is a building site but in 6-12 months what will it be like then.

One finished and occupied, buyers will be able to asses the area.

wilfred30

You might have to consider selling your house at auction.  As has been said, the vast majority of people looking for a family home will not entertain yours, being right next to an HMO for homeless people.

There's very little chance that a potential buyer won't find out about it as it will probably come up in the searches.