Had to reduce price to 2003 level!!

SouthCoast

Just out of interest, what are the maintenance charges and ground rent?

PasturesNew

I'd not want all those stairs. And the mezzanine is only of interest that has a specific need for one. e.g. working from home, occasional but regular visitors staying, having a special hobby where you want to put everything together and on display but out of the way.

I'd be looking for something a bit more "run of the mill".

PasturesNew

Conrad wrote: »

You know Ive been wanting to get this off my chest for a while to all you who think rearranging the furniture will get a sale;

Grow up.

I told you 2 years ago this was comming.

All that matters is .............. price.

If you want to sell, price it correctly, forget all the gibberish, changing agents, asking for new photos.

As much as I totally agree with you, evidence (I watch too much property !!!!!! on TV) does show that people really DO take it into consideration!

I've seen LOADS of people on those who walk into a house and their first utterance is "No, that sofa's awful" or "oh yes, super table" ... it doesn't even occur to them that the people's stuff is going with them.

So, it does work. It's just nuts.

So, based on price alone, it might give you the edge. But that's only when the price is right first.

3under3

Hi Southcoast, no ground rent, service charges are £100 per month which includes water rates and buildings insurance. The place is well managed.

Nationalist

It looks like a very interesting apartment! Unfortunately I think prices will fall to 2000-ish levels before rebounding in a few years' time--you may be looking at 2015 before we see 2007 prices again!

So you have to decide: keep or sell. If sell, then you need to seriously undercut the market and not just chase it down. Your property could easily bottom out under £100K; the market was only ever built on debt, which just isn't available anymore.

So I'd say reduce massively for quick sale, like £10K off a month until someone bites, or reconcile yourself to hanging on for ten years but then getting a decent profit.

pinkshoes

olly300 wrote: »

That's a new build.

The two bedroom flats in that building are like this:
http://www.rightmove.co.uk/viewdetails-17213425.rsp?pa_n=6&tr_t=buy

There doesn't seem to be any one bed flats in the area that are not in newish buildings.

Newbuild or not, in today's market people won't like paying £170k for a 1 bed when you can get 2 beds in the same area for much less.

From the aerial view in the link, it looks like the area is awash with flats...

Also, if you use the mezzanine for a bedroom, won't the kitchen smells cause the duvet to smell of onion/garlic/steak etc...?

silvercar

In a rising market people will see the mezzanine as a bonus and extra space worth having. In a falling market people will not want to pay for a "room" that isn't that useful, they will jump to the next level and get a proper 2 bed.

I would rent it out.

wellandpower

Keeping it? For a pension?

There is only one thing that place is going to get you as a pension and I am afraid that is taking goverment handouts.

Value 70K when all this is done if you are lucky.

donkeyman18

The Rightmove data has screwed up. It say's £170,000.

You'll need to sort that as a lot of people look on Rightmove these days and an extra '1' at the front of the price will do you no favours.

abaxas

Sell NOW!

People can go on and on about staging the property, valuation, possible crashes etc etc. But the main fact remains.

This property is 'fashionable', hence you have to shift it relatively quickly or risk it falling out of favor. Sell now and take the hit, you dont want to be selling it when it looks like a pair of 90's flowery curtains.