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Any ideas why our house was valued so cheap?
gabyjane
Posts: 3,541 Forumite
try not to drag this out!
We bought a new build in sept of last year. It is shared ownership and on a brand new estate of similar sized houses and ones the exact same as ours.
It is a town house with:
integral garage
drive,
Nice sized back enclosed garden
2 beds
1 bathroom
lounge
kitchen/diner
downstairs toilet
good sized airing cupboard
nice size in general for a new build from what we have seen.
When we got it it was valued as a bit of a building site, the housing people obviously wanted us in asap as did we and as soon as it was finished we moved in..it was valued at £150k..3 weeks later it was valued at £153..no idea why but hey.We purchased our % and here we are!
Now this is the bit that baffles me, have just walked up to the park that has been built and noticed one up for sale..had a look online and it is £189,950..a tad more than ours was! Now another thing when we moved was we were told that S/O houses were built to bigger spec, i didnt believe this but looking at the pics ours is definatly bigger in places, the kitchen for example and the lounge..can't really see anything hugely different though..
So any ideas..the front overlooks a play park whereas ours looks out towards other houses..would this justify nearly £40k difference!!
thanks.
We bought a new build in sept of last year. It is shared ownership and on a brand new estate of similar sized houses and ones the exact same as ours.
It is a town house with:
integral garage
drive,
Nice sized back enclosed garden
2 beds
1 bathroom
lounge
kitchen/diner
downstairs toilet
good sized airing cupboard
nice size in general for a new build from what we have seen.
When we got it it was valued as a bit of a building site, the housing people obviously wanted us in asap as did we and as soon as it was finished we moved in..it was valued at £150k..3 weeks later it was valued at £153..no idea why but hey.We purchased our % and here we are!
Now this is the bit that baffles me, have just walked up to the park that has been built and noticed one up for sale..had a look online and it is £189,950..a tad more than ours was! Now another thing when we moved was we were told that S/O houses were built to bigger spec, i didnt believe this but looking at the pics ours is definatly bigger in places, the kitchen for example and the lounge..can't really see anything hugely different though..
So any ideas..the front overlooks a play park whereas ours looks out towards other houses..would this justify nearly £40k difference!!
thanks.
0
Comments
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Maybe the question is why has this one been overpriced (as it may not be valued at the price it is being offered for sale)0
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My cynical view is that the builders have priced it for negotiation i.e. will drop 20/30k make the buyer think they have a good deal."The whole problem with the world is that fools and fanatics are always so certain of themselves, but wiser people so full of doubts."
Bertrand Russell. British author, mathematician, & philosopher (1872 - 1970)0 -
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I think new builds at the start of a project are sold slightly cheaper than those towards the end due to the inconvenience factor of having building work going on around u.
Maybe the other house as suggested is also way over priced?Who says I have to be normal?
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Why not get a valuation done on yours, using the same estate agent that's trying to sell this house. Get them to throw some light on their valuation!! You never know, you might be in line for a big increase!!
AMDDebt Free!!!0 -
Hmm i knew there would be the old 'new build' thing said!
When these were bought they were bought for £169k or over (df's 2 friends have bought one)..so IF they sell for the price i have given they have made a nice increase in a short amount of time..if not then it is very undervalued isn't it?
For us it is good we got it cheap isn't it? i don't really care wether the builders knocked it down from whatever price to make us think we got a good deal as we did, we have in comparison to lots of properties around got a very cheap house as far as we are concerned, for the price and location we have done well.. also because it is S/O but still.
Like i said it is smaller than ours and if we did want to move i may consider it but we don't! it took us 7 years of waiting for a house where we live and one like we have is perfect! Just curious that's all.
Thanks for the replies0 -
Gabyjane, can you post the rightmove link for the property on at £189?0
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Gabyjane, can you post the rightmove link for the property on at £189?
It's not on rightmove but this is the estate agents it is with and the house:
http://www.ljboyce.co.uk/details.php?property_id=LB0041080 -
Is that one on a private estate? Or part of a SO part? Is it the same estate?
Position within an estate will make a difference.
If the developer has had to create some affordable housing on the estate, then that corner will probably be of less value.0 -
That's a showhome? The specs not very high.It's not on rightmove but this is the estate agents it is with and the house:
http://www.ljboyce.co.uk/details.php?property_id=LB004108Illegitimi non carborundum.0
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