No suitable homes for sale?

EssexHebridean

Where I am (West Essex) prices have definitely been easing. Very locally to us things are mostly holding, but just across the border into Herts we're seeing prices in several towns that would have formed part of our search area dropping = three bed properties are now increasing in numbers within the budget level we were looking at whereas when we were looking (first half of last year) there was relatively little in those locations for our requirements and price bracket. Stuff isn't routinely flying off the shelf either - mostly we're seeing things linger about for a while, although not as long as was the case. (For clarity, our search parameters were 3 bed up, priced up to £425k, not requiring much work.)

GixerKate

have you looked at Stroud and Stonehouse?  Its been a while but lovely locations with reasonably priced houses available, one in Stonehouse went on the market yesterday for 250k - 3 bed 2 bathrooms with a nice looking garden for instance.

amandaleeds

I'm looking at large 2 bed/small 3 bed homes up to 260k, not needing major renovation, which should easily be possible looking at the sale history of the areas I like from the past 2 years. Most homes have sold for much less than that. 
Most homes are sitting on the market and dropping in price, simply because they're in poor condition, not very usable living space, no/tiny garden, no parking, on a busy road etc. 

strawb_shortcake

The few that have come on the market near us seem to be quite expensive compared to similar already on the market that remains unsold. There are also a few that are easily affordable and could possibly put us mortgage free but not what we want for various factors.

@GixerKate my OH would quite happy move to Stonehouse or Stroud, you certainly get more for your money but its extra commute for me and further away from my parents that are only going to need us more going forward, we also don't want to move our Son from school who has 3 years before uni.

SandyN21

draiggoch said:

If any of the over priced houses on Rightmove take your fancy make them an offer stating you are chain free. That’s what I did.

That's what I did too - after 2 years of renting and over 80 viewings later, my cash offer was accepted at £25K below asking price and I'm at last in the process of buying my 'forever' home. 

amandaleeds

annabanana82 said:

The few that have come on the market near us seem to be quite expensive compared to similar already on the market that remains unsold. There are also a few that are easily affordable and could possibly put us mortgage free but not what we want for various factors

Pretty much my case too! Anything I can afford isn't suitable, and clearly isn't suitable for others due to sitting on the market for months. Even if I look beyond my budget, all I get is a bigger house/extra bedroom, but not a suitable house in a suitable area 😬

RelievedSheff

amandaleeds said:

annabanana82 said:

The few that have come on the market near us seem to be quite expensive compared to similar already on the market that remains unsold. There are also a few that are easily affordable and could possibly put us mortgage free but not what we want for various factors

Pretty much my case too! Anything I can afford isn't suitable, and clearly isn't suitable for others due to sitting on the market for months. Even if I look beyond my budget, all I get is a bigger house/extra bedroom, but not a suitable house in a suitable area 😬

Perhaps you need to revaluate your priorities and your perception of what is suitable?

Your budget clearly doesn't stretch to what you want, which isn't uncommon. Sometimes you have to downgrade your expectations.

MobileSaver

RelievedSheff said:

amandaleeds said:

annabanana82 said:

The few that have come on the market near us seem to be quite expensive compared to similar already on the market that remains unsold. There are also a few that are easily affordable and could possibly put us mortgage free but not what we want for various factors

Pretty much my case too! Anything I can afford isn't suitable, and clearly isn't suitable for others due to sitting on the market for months. Even if I look beyond my budget, all I get is a bigger house/extra bedroom, but not a suitable house in a suitable area 😬

Your budget clearly doesn't stretch to what you want, which isn't uncommon. Sometimes you have to downgrade your expectations.

^ This.

It sounds like you are looking for perfection on a limited budget, the reality is that no house is perfect and you always have to make a compromise somewhere.

I paid seven figures for my home; it's amazing but not without fault. A friend of mine paid two million for his home and had to compromise on things that would have been deal breakers for me.

amandaleeds said:

and its age meant it probably needs rewiring ... Amazed people are throwing so much money at properties...

My house is 100 years old, still has some original electrical fittings from that time and much of the wiring is at least 30, 40 or more years old. We've replaced some of the consumer units at minimal cost (and rewired the kitchen electrics when we put a new kitchen in) but most of the rest is old yet has been checked and is perfectly safe.

The point being that a savvy buyer will know that in most cases they don't have to spend loads of money on rewiring an old property so if you are assuming you do then you are immediately at a disadvantage...

Albermarle

My house is 100 years old, still has some original electrical fittings from that time and much of the wiring is at least 30, 40 or more years old. We've replaced some of the consumer units at minimal cost (and rewired the kitchen electrics when we put a new kitchen in) but most of the rest is old yet has been checked and is perfectly safe.

Similar for us. No original fittings , but I think the main house wiring is more like 50 years old. Loft and extension newer, and a new(ish) consumer unit and all fine. 

strawb_shortcake

RelievedSheff said:

amandaleeds said:

annabanana82 said:

The few that have come on the market near us seem to be quite expensive compared to similar already on the market that remains unsold. There are also a few that are easily affordable and could possibly put us mortgage free but not what we want for various factors

Pretty much my case too! Anything I can afford isn't suitable, and clearly isn't suitable for others due to sitting on the market for months. Even if I look beyond my budget, all I get is a bigger house/extra bedroom, but not a suitable house in a suitable area 😬

Perhaps you need to revaluate your priorities and your perception of what is suitable?

Your budget clearly doesn't stretch to what you want, which isn't uncommon. Sometimes you have to downgrade your expectations.

Possibly, but there seems to be lots on for around £280k and there seems to be a jump then to £340-350k but the difference between those two prices are sometimes negligible just smarter decoration. Or some owners hoping to maintain the prices a couple of years back.

I'd like to spend around £320k our only must haves are a garage or room to add one, a downstairs toilet is essential. I'm not looking for perfect, but we do have only a few areas we want to move too

I can go to £350k but that would need to something special and I couldn't define what that looks like at this point.