House selling

Comments (24)

bagpuss2
Original Author
8 years ago
The house in the video home reports at £140k but it is on at offers over £120k.
headers13
8 years ago
Are you selling yourself or using an agent ? The video is not full screen it just shows in the middle the sides are black f.y.i. if you are using this to sell the house with. Is the price right what are the sales prices for the area. How quickly do properties sell in the area etc. It all looks a bit plain as if you've half moved out maybe it needs some dressing to look more lived in.
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Some of our clients certainly have a good idea on the amount they can and/or would like to spend on their project. This is mainly measured on how much they have saved or how much they were or are going to be able to borrow. Rarely is the budget amount motivated by the actual value increase the planned works could bring to the property. Before I go into details on which improvements statistically give the biggest value increases on properties, there is another tip we frequently give our customers. Lets assume that you have recently purchased a property for, say, £500.000, or you have asked your local estate agents to value your existing property for that same amount. This relates to all kinds of works, redecorations and extensions alike. Questions you should ask your agent are : “How much would the value of my house increase if I improve the kitchen, perhaps with creating a small side or rear extension?” “If I would reconfigure my first floor layout and add one (more) bathroom / ensuite, how much more would my house sell for?” “My neighbours have all added roof lights and even dormers to their property, so if I were to do the same and create a bedroom with ensuite or study up there, and extend the stairs as well, would the value of my property increase by 10%?” Lets come back to our example above - the agent replied that, in your case, adding an extra bedroom and bathroom will increase the property value by £50.000 and not more, regardless how much money you spend on the fittings and sanitary ware, tiles, under floor heating etc. This is the “value ceiling” people are prepared to pay for similar properties in your area, based on the experience of your estate agent. This brings me to the reason why I wanted to share this tip with you. If you knew that your project will add £50.000 to your property value, would you spend £50.000? Or just £40.000 or even £35.000? From experience, the budget figure we recommend to get comfortable with is ca 40-75% of what the agent recommends. The bottom line is this : If one takes the agents estimate and reduces it to be conservative, should the market drop, then what ever is left, is a good maximum figure one should think about. This is where we come in - taking your existing property style and value into account, we can advise on how much you should be spending to achieve the same result. We can even ask one of our builders to meet you to discuss this in more details, looking at any “hidden” costs which are not immediately noticeable - new plumbing or rewiring / replace boiler / new window / structural alterations - all works which may be necessary in order to achieve what you are looking for. There are several good statistics available online on which works give you the greatest value increase - think extensions, new kitchen, new loft etc. Please do not hesitate to ask us if you feel unsure or would like to maximise your budget - info@vorbild.co.uk.
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Colin Burns
8 years ago
Its difficult without knowing what the market is doing in your area, but just looking at the house itself - you need to dress it. Fresh coats of white/ neutral paint will work wonders. Go to charity shop and get a couple of cheap bits of furniture just to show where things will go, maybe just focus on one room or two. Sort out whatever is going on with kitchen skirting boards and go to a bargain shop and pick up kitchen accessories in a bright welcoming colour perhaps. Ensure all clutter such as cleaning materials and coats are hidden away for viewings. Hope this gives some ideas. Good luck!!
bagpuss2
Original Author
8 years ago
It is with an agent http://www.pollardproperty.co.uk/properties-for-sale/property/6192962-west-banks-avenue-wick

It was let out for a while- last tenant wanted it unfurnished, but if I can sell the newer house, I can put some furniture into it while I'm renting for 6 months while my next home gets built.

It's very competitively priced- other houses in the street and the block are in at £185k, and it had a kitchen and bathroom makeover - but older houses in the town aren't getting anyone through the door. I took the video on my iPhone
turquoisetree53
8 years ago
Bagpuss2 - that is a really charming little house. I think a weak point may be the neglected garden. Why not get a real hedger, to restore the lovely little hedge, by cuts at the right time of year, and in the right manner. (It does matter.) So many people have to put up with those ugly modern wooden fences.

At the very least, have you some photos taken in the garden in the summer, of people/children enjoying themselves?
bagpuss2
Original Author
8 years ago
The house was my family home from 1971-2007 and it was rented out after that until November this year. One condition of the lease was that the tenants had to maintain the garden- three of them (all professional people - teachers and doctors) failed to do so. When we lived there, I did grass cutting, my mother looked after flower beds and Dad cut back shrubs.
I'm headed for new location soon and while I can hire a gardener to come - locals around here are not very reliable. That's the reason for dropping the price- to try and disentangle from the need to keep having to come north. The estate agent- who was also my letting agent- doesn't keep a list of workmen to hand.
Victoria
8 years ago
Any lovely floorboards hidden? Bringing out period features can help.
minnie101
8 years ago
I'm not keen on the estate agents write up. A lot of people would be put off seeing the words require modernisation and would make an excellent project. If the kitchen and bathroom are both new it should be in the write up. A bit of paint and new carpets does not equate to modernisation and project in my eyes.
Victoria
8 years ago
I agree with Minnie, but if you want to sell quickly, bringing in some furniture, better window dressings and taking away whatever is covering fireplace will all help. Someone is going to get a good sized, attractive house for their money!
bagpuss2
Original Author
8 years ago
Serendipitously my other house is going under offer and I will need to put my larger furniture in this one until my new one in the south gets built.
Heather Welsh
8 years ago
I agree that the agents blurb doesn't match the house and may put people off even looking at the photos. The words "needs modernisation" & "project" to me mean the place needs gutted & anything not photographed is in need of serious TLC. That really doesn't seem to be the case for your house so if you can, I would refresh the info with some freshly staged pictures including your homeless furniture. A quick tidy up of the garden would also be worthwhile as an unkempt garden can suggest that the whole house hasn't been cared for when potential buyers are making a snap judgement just based on a few pictures
Jonathan
8 years ago
Whilst you likely prefer the early comments that say it is not too bad I feel that it does indeed require modernisation. Although I do like the look of it.

You have tried making the price more competitive- so far that hasn't worked. I think you have several options:

1- continue to rent this out with a better agent who will maintain the property. Therefore meaning that you rent in the south.

2- reduce the price further

3- work out how much you would realistically sell this for in great condition and consider the possibility of replacing the kitchen, carpets, fireplaces, redecorating and garden landscaping.

Assuming the likely house price in great condition realistically matches the other £180k houses on the street then you could spent £60k and you could still recoup your money. Personally I think it can be done for £35k

I suspect the house needs rewiring - there are certainly very few sockets, Personally I would put a new fireplace in the front reception but remove the others in the house thereby freeing up wall space. I would refit the kitchen in an L-shape ....to make this room feel bigger I would remove the back lobby and the worktop directly in front of you as you enter the room. I think research with estate agents might suggest this is a family house and putting a bath in might pay dividend. I would paint everywhere the same neutral colour and put a complementing carpet throughout. The same colour scheme throughout helps the feeling of continuity and makes spaces seem bigger- personally I would choose a modern grey and white scheme throughout. This would mean removing your curtains.

I would not put furniture in here as only modern matching furniture or statement/designer pieces will likely improve the feel of quality.

In the back garden I would make this look like a blank canvass. I would put up a perimeter fence for privacy and get rid of the path and hedge that dissect this garden and present a football pitch sized garden. The side wall of the garage could be painted too. At the front I would clear out anything now looking straggly and paint the iron work white like next door.

I would also make some purchases to help sell- shutters for the front of the house will help improve the feeling of privacy. I would put a chandelier in the front reception to make it feel more expensive.
bagpuss2
Original Author
8 years ago
Front reception did have a chandelier which my tenants broke. Half the house did have a rewire and a new consumer unit put in- and bath was taken out at insistence of letting agent. Iron work used to be white but had hideous rust marks- so we went with black.

Ive advertised that I'd consider offers of £115k if a buyer can complete before June - if they can't then I trade in a new rental property in Inverness and try renting it out again.
ingabrereton
8 years ago
I think the main reason it has not sold is because it is the middle of winter. Without furniture and no-one living in the house it will seem rather bleak. The only thing I would do would be to recarpet the stairs and finish painting the skirting in the kitchen. I bet it will sell when winter is over and the days lengthen and that nice garden comes into spring growth. Furniture would help but I think it will likely sell to a developer or landlord so not too important unless you want to sell to a family.
bagpuss2
Original Author
8 years ago
Plan is to move essentials south then new stair and hall carpet and a budget for walls and paintwork and garden- then back on rental market
ingabrereton
8 years ago
looks much better with furniture, hope it all goes well with your moves.
turquoisetree53
8 years ago
unfortunately, you will have to heat hse for viewings.
prairiewolfe
8 years ago
We bought an empty house, so you don't always have to furnish a property for it to sell, but I would say going on your video the house look's like it needs some personality. You have a few tables with lamps on, but nothing else, and I feel it either needs more furniture or to be totally empty. I like your bathroom, but as it's a family home, there is a good chance your potential buyer may have small children and they will want a bath. Goodluck with your sale & move :)
prairiewolfe
8 years ago
Just seen your added furniture pics, Def more welcoming :)
Alison
8 years ago
I agree with a lot of the above, it does look a little unloved, and the photos with furniture are much better. It may be the video but the house seems quite dark, make sure you have the lights, not just the lamps, on for viewings. I'd also say for a family house a bath is a must, as a generalisation adults shower but children bathe, that would be a deal-breaker for me I'm afraid. I'd also expose the fireplaces upstairs, you mention that they're both features so why cover them up? It could be a lovely family home, hope you get a sale soon
bagpuss2
Original Author
8 years ago
Updates- I ended up using the two newer properties to fund my purchase further south - after four months and only one viewing- from someone whose budget was £50k lower than the home report. My plan is to use it as storage until my new home gets built, then to send the handyman in and redecorate and change the stair carpet before putting it back on the rental market.

The house is in Wick in Caithness. Similar fully renovated houses are on the market for £245k- but not selling. The only houses which find buyers are less than 15 years old. However there are people looking for shorter term rentals - which can bring in around £500 per month.
Farah
8 years ago
last modified: 8 years ago
The house is beautiful with so much potential! First impressions count and I think the first place you need to dress is the entrance hall. The carpet doesn't flow and it's outdated like an old B&B. A plain, neutral carpet that runs into the bedrooms will bring unity. Failing that Atleast painting the hall in warmer colours, and I noticed some of your furniture like the little table or sideboard could be used in the hall way to display flowers etc. The best room is the bathroom as it needs nothing major, just maybe a green plant and a towel. Definitely, the whole house must be painted neutral and possibly the same in all rooms. Personally, I'd knock out all those outdated fitted cupboards and expose the boarded up fireplace. Someone mentioned putting the heating on, I'd say light a nice inviting candle fragrance to add warmth and ambience too or just spray it.
beegreener92
7 years ago
Hi bagpuss2. How are things now? What you got there? 2 or 3 bed semi? In wick? I can't believe it's come in at £245k. You wouldn't get that for one in Sneck. £120-140 seems about right for the market. The skirting boards, the door jambs, the fire surrounds, the pokey kitchen, the carpets all date it and would need replaced. If you want top dollar you need to offer top decor. I'd like to be wrong but it really needs some tlc.

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House selling

bagpuss2
Original Author

Comments (24)

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