House wont sell other options

GDB2222

https://forums.moneysavingexpert.com/discussion/comment/81894042#Comment_81894042

You have been trying to sell for months now. Nobody is coming to look around, even. It’s likely that the price is too high, I’m afraid.

I don’t think renting it out really helps you much. It’s not going to increase its value. It’s quite a tie being a landlord. It’s risky. You might be better off selling for less and having a MUCH simpler life.

RelievedSheff

https://forums.moneysavingexpert.com/discussion/comment/81894114#Comment_81894114

The one thing you can't change about a property is its location.

Overlooking is another big no no for many people. Ourselves included. We dismissed one of the four properties we looked at this time purely on the rear garden being very overlooked with little option to reduce it.

Most Other things you can change about a property.

If You have had zero viewings it does suggest the price is still too high.

BACKTOBACK

Thanks will reduce further

RelievedSheff

https://forums.moneysavingexpert.com/discussion/comment/81894722#Comment_81894722

Try to look on the brightside. If you are struggling to sell chances are wherever you are looking to purchase, assuming it's in the same area, are more than likely having the same issue.

You might lose a bit on yours but you might find you get a decent discount on the upwards move as well.

lincroft1710

I think another problem is your target market. It is not a property for a family and so you are looking at singles/couples. For a retired person or couple as well as the disadvantages I have previously mentioned, the bungalow is situated in a rather cramped cul-de-sac with lock up garages opposite, plus the back walls of other premises to their left, which is likely to be off putting. There is also a car repair garage, opposite the entrance to the close but not visible from the bungalow. Fortunately, the living room and main bedroom are at the rear rather than the front.

lincroft1710

https://forums.moneysavingexpert.com/discussion/comment/81894771#Comment_81894771

Unfortunately OP wants to move to another area

BACKTOBACK

https://forums.moneysavingexpert.com/discussion/comment/81894959#Comment_81894959

I appreciate your comment and view. The view from my kitchen is mostly over the garages opposite and onto green fields. Which i prefer to looking at other houses.

Your opinion of a cramped cul-de-sac was the main reason i bought the property. The neighbours are retired and lovely people and its a quiet area with no through traffic. You can sleep at night with no noise whatsoever.

I understand the second bedroom is very small so it needs to be an appropriate buyer either an elderly couple or disabled person (not suitable for large families or anyone planning children)

Everyone has different opinions

GDB2222

https://forums.moneysavingexpert.com/discussion/comment/81895059#Comment_81895059

It does sound like quite a small number of people might be interested, so you may have the right price but just need to be patient.

BACKTOBACK

If i rented the property out for £1000 a month. Could i re-mortgage the property getting around £170,000 of the value plus also use a portion of the rental income?

As i am writing this I'm just thinking wait and keep reducing the price. I don't think changing Estate Agents will achieve anything as the photos have been improved now.

Thank you for the positive comments. As much as i don't like to admit it maybe i paid too much for the property and will just have to take the loss

GDB2222

https://forums.moneysavingexpert.com/discussion/comment/81897112#Comment_81897112

I don’t think you can remortgage a BTL for a very high percentage of value. So, you might not get £170k. And BTL interest rates tend to be quite high. You would pay tax on the rent. You would have lots of expenses to pay. You would have to make detailed calculations to see how much rent is left over. If any!