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Sell now by reducing price or adapt?

Lorraine Du
3 years ago

We live in a 6 bed, 250 year old property. Kids left home and we are just retired. The house has been on the market for 2 years and with a new agent post-pandemic at a reduced price. Some viewings, no offers... we live next to a busy A road and roundabout although screened through a slim belt of woodland. Viewers don’t like the road.
So, what do we do? Keep reducing the price until ... originally £1.25m, now offers over £1m.
The garden is complex, we work in it plus a maintenance gardener.
The house is draughty (not all windows yet replaced even after 22 years here).
The boiler is only 3 years old but many radiators (probably at least 30 years old) are luke warm or dead despite a washout when the boiler was installed.
My house style now would be eclectic Scandi but I’m stuck in a time capsule not knowing what to do.
Do we split the house up and how? Rent bits out?
Do we take a massive price hit and absolve ourselves?
Do we spend another winter wearing several layers and dreaming about foreign holidays?
We have loved our house and would like to again but it’s just so big for two of us.

Featured Answer
  • Lorraine Du
    Original Author
    3 years ago

    Sadly, no buyers. House off market whilst we neutralise some decor and have some jobs done. New agent (number 4) lined up for 2021. Thank you for asking.

    Comments (31)

    • Laura
      3 years ago

      Are there many properties in the area for a similar price? I ask because if a house went up for £1m in my area, it would be quite niche and you’d have to wait for the right buyer to come along. If there are, then unfortunately a house is only worth what people are willing to pay for it and it may be overpriced, and/or similar priced properties are maintained to a higher level.


      All the things you suggest are very personal to your circumstances and I don’t think anyone could advise you without knowing your full finances etc. I think it all comes down to how quick you want it to sell and how low are you willing to go on the value.

    • dianahartaboyne
      3 years ago

      Looks stunning from your pics, incredible garden and looks splendid inside too. You don’t mention which county it’s in but people are moving in droves out of London to the countryside since the end of lockdown, so it may be your chance comes now. Without knowing the area it’s hard to judge the wisdom of your suggestions, which are all good but you could ask the advice of a few experienced estate agents who know the area. I hope it sells soon and you can downsize, good luck.

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    • Lorraine Du
      Original Author
      3 years ago

      Thanks Laura. There are plenty of houses to choose from in a 10 mile radius in our price bracket in Cheshire. We do not ‘need’ to sell and can afford to adapt if it is prudent. Good idea to talk with agents about alternative possibilities. I will do that this week.

    • Jonathan
      3 years ago

      I live near Leeds and the property market is buoyant here. Properties are selling quickly here and in lots of the country- so the question is- is the problem the market in your area? Or have you chosen the wrong agent? Or is your asking price too high? Or is there something that can be done to maximize the profit you can get from a large property on a large plot?

      Assuming the price/market/selling agent is fine I would do several things:
      1/ take the house off the market for 4/6 weeks as houses that have been available on the internet for months look stale.
      2/ get a decent heating engineer to check the gas supply is adequate, flush the system and balance your radiators- assuming you installed a powerful boiler your radiators should be hot. It is also possible that some new radiators will be better than the old ones. You could also take advantage of current Government subsidies and upgrade your insulation in the loft.
      3/ look up the local housing strategy and planning environment to see if there is the possibility of selling your home as a building plot. You might conclude you add significant value by getting outline planning permission for several smaller homes although of course you don’t have to sell it this year to benefit from that- you could decide to live in the house for another decade.
      4/ consider enlisting someone to help with home staging- most of us personalize our homes over the years and later when we come to sell don’t notice that some things about our homes are odd or highly personal. You might well conclude spending a few thousand on changes could add significantly more to the value. To be fair the pictures you have posted look delightful but it might be that fresh eyes see a problem in a room not shown.

    • Sarah U-S
      3 years ago

      Your home is absolutely beautiful and I think Jonathan has given some wise words!
      My only initial thoughts are that whilst the downstairs space looks amazing, you don’t seem to have a master “suite” - your master bedroom is a terrific size - but no en-suite or dressing room - both of which people look for, especially in that price bracket. Maybe some tweaking could be done somehow?

    • Lorraine Du
      Original Author
      3 years ago

      Thanks for your detailed reply.
      The problem is the location, buyers don’t like the road. House feedback is good and we have de-personalised.
      Agent is now good, a top end national.
      Doubt we can convert the plot due to poor access: shared gate access with neighbour from road, road access itself is almost on the junction of the roundabout. There would be no other available routes in to the land and our neighbours would definitely object!
      House was off market for 3 months then launched with the new agent a month ago.
      One potential buyer said that they buy to ‘add value’ but that they couldn’t consider ours because they wouldn’t recoup on selling due to road having a ceiling effect. We just don’t know how low that ceiling is.
      Thank you so much for your ideas and please keep them coming.

    • Lorraine Du
      Original Author
      3 years ago

      Sarah, you are right, no master suite but plenty of scope. It’s not something we ever wanted and we decided that the new buyers could have the excitement of planning that and of course a price adjustment could be made accordingly, but... we never get that far!! It’s all about location, location, loc... etc. We live on the edge of a desirable village but the road is our blight.

    • Sarah U-S
      3 years ago

      You say that the access is shared with your neighbour - when did they move in? If it was recent, the road didn’t put off their buyers?

      People are always looking for either the perfect house, with everything done, or they are looking for a bargain and wriggle room to make it perfect. I think you therefore need to think about either improving what you have first or reducing the price some more... Everything will sell at the right price.

      I’ve looked again at your bedroom - I really think you should consider an en-suite and dressing area as there is plenty of space. Potential buyers will also be thinking about that too.

    • Lorraine Du
      Original Author
      3 years ago

      Thanks Sarah. Neighbours here + 30 years. Live in what was the original barn. We do not get on.
      I will talk to agent about your suggestions for a master suite.

    • Daisy England
      3 years ago

      What a wonderful lush garden.

      I can’t add anything additional sorry to say than what’s already been said.

      I do wonder if shared gate access puts people off. Sometimes people just don’t get on with their neighbours. Would it be possible to amend this shared gate status so that you both could have your own gate entrance?

      I‘m not sure I’d spend any more money on it guessing at what prospective buyers ‘may’ prefer. I’d be more tempted to reduce the price accordingly to take that into account.

      Good luck.

    • Lorraine Du
      Original Author
      3 years ago

      Thanks Daisy. That had been our thinking but not sure how low we drop OR whether we spend money to adapt in some way.
      Master bedroom as is below, with open fireplace and sitting area.

    • minnie101
      3 years ago
      last modified: 3 years ago

      If it’s only been on the market for a month with the new agent I wouldn’t drop the price already plus the agent obviously thought it was a realistic price in the current economic environment. Unfortunately houses of this scale can take a long time to sell. My husband and I were just discussing a house we’d seen yesterday and whilst we could afford the mortgage we concluded we definitely couldn’t afford the maintenance (c1500 house) and that didn’t have your stunning but high maintenance garden.

      Your agent should be able to tell you the ceiling price in your area. I know you’ve mentioned the road being off putting but I’m just wondering if your agent has a view on the downstairs layout. I’m just wondering even if you Just moved the downstairs W.C. to allow direct access to the Conservatory and garden would help? It would also give you a view from the front door to the garden

    • Lorraine Du
      Original Author
      3 years ago

      Thanks Minnie. We had considered that as a low cost option whilst upgrading the WC area.
      The two prior years of selling was against the Brexit uncertainty and we now have the pandemic. You are right, it’s a big house and upkeep goes with it. We have considered simplifying the garden and we have already taken some beds away. Our autumn work will continue in this vein on the basis we are still very much here.
      I guess it would suit a multi-generational family who may work from home and don’t mind a road!
      Do you think there is merit in splitting the house up?

    • Sarah U-S
      3 years ago

      It would be a huge shame to split the house up as it’s so beautiful. However you need to think about who your buyers are.

      I hope you don’t mind - I’ve been on to Rightmove to look at what else is on the market in that price bracket and with similar numbers of rooms.

      On initial glance it looks well priced, especially given the size of the house and grounds - however I’ve seen the roundabout that you mention and the duel carriageway. Can you hear the road noise from the garden?

      Within one mile of you there’s 5 bedroom new builds around the £850k mark that are much smaller but perfectly done (not my cup of tea but have sold as they are perfect), and there’s another 6 bedroom detached older property with land for £795k. Whilst it’s nowhere near as big as yours, it still has the 6 bedrooms and big garden and no road issues. Sadly buyers do think about location. The £795k house is a pretty character property, and whilst it’s not as big, it could easily be extended.

      I think your house is stunningly beautiful and it’s absolutely one that I would dream to own - however at that price bracket there are other options for buyers - pay slightly more for a similar property in a better location, or pay quite a lot less but get a smaller “finished” house or a smaller house that could be made bigger with the remaining budget.

      I do feel for you - I’m guessing the road wasn’t as busy when you bought the house? Can I ask - what made you buy it in the first place? That might sound like a silly question given that it is such a gorgeous house, but you need to think about who your potential buyers are.

    • Sonia
      3 years ago

      I’m no property expert, but when we tried to sell my mum’s much smaller house after she passed away, it took 7 months to find a buyer, and that was only after we gradually reduced the price from £395,000 to £322,250. Then there was a bidding war between two interested parties! The house was a lovely 1911 semi, but there were things that people didn’t like - no off road parking and bathroom was downstairs. It was in a sweet market town in Herts where properties are normally snapped up. It was also obviously over-valued by the estate agent.

      The market for such a large house as yours will obviously be smaller, but I wonder if you reduced the price a bit more you may get more interest? considering how much we reduced mum’s house by, your reduction isn’t as much? Or get more valuations from other estate agents. Tell them you want an honest valuation. The busy road will de-value a home. Sometimes it does just come down to the price.

    • sksj1
      3 years ago

      If it’s over £1m in Cheshire your target market is bound to be footballers, so the problem may be your garden is too lovely and your decor too tasteful - you need leopard print and mirrors!! Joking aside, I would take the loss and sell if you can afford to and buy somewhere with less maintenance so you can enjoy your retirement.

    • Lorraine Du
      Original Author
      3 years ago

      Thank you all for comments.
      We bought 22 years ago and it is was in poor repair.
      Yes, we can hear the road from the garden but clearly in the house it’s not an issue. It’s not been an issue for us in the garden either or why would we have spent so much time creating the garden?!
      I agree the garden could put people off but we will continue to simplify and a weekend with a digger could sort it out (we won’t be doing that though...)
      Thank you for the local research. There is plenty of housing stock to choose from locally but we do have lots of space for the money here. We just don’t need or want the space anymore ourselves.
      Enjoy retirement... exactly. Cruising, travelling, touring.... er, no, just gardening!!

    • Jonathan
      3 years ago

      I was just thinking about this.....
      Because it’s a family sized home it’s possible families worry about the pond and child drowning. Consider getting a quote for its remodeling and offer to have it done between exchange and completion if you sell for the right price.

    • Lorraine Du
      Original Author
      3 years ago

      Thanks Jonathan, we have four pond areas... eeek! We are willing to discuss any buyer requirements but I’m afraid we have not got that far yet.

    • Raj S
      3 years ago

      Unless you're desperate, don't do anything just yet. It's too early to speculate why/what etc. House and garden is perfect and seems to be priced just OK.

      Anyone who's going to buy your house at a £1+mn price point is most likely going to make changes to suit their needs. So there's no point in making any changes to the layout or garden.

      Properties near main roads tend to sell at a discount on per sqft basis, as well as take longer to sell. Just focus on getting more viewings. There's a buyer out there for your house too.

    • Lorraine Du
      Original Author
      3 years ago

      Thanks Raj. Pretty much our view too. It’s the not knowing what discount we need to give I guess. Our agent is pretty focussed so I hope we will have more people through the doors.
      In the meantime I wondered if we should consider other options. At present, I’m thinking just improve heating and windows and enjoy a lockdown winter in plenty of space. We acknowledge every day how lucky we are.

    • Raj S
      3 years ago

      Viewings are key, once they're in through the door, then it's a question of how much does one love it and at what price. A good agent would be able to help set the tone regarding price. All they've to do is talk up the positives before the viewing, and drop a hint that the owners are KEEN TO SELL and will seriously CONSIDER ALL OFFERS. That should set the tone for the potential buyer when they are viewing they could make an offer even lower than the guide price.

    • Raj S
      3 years ago

      Till then make the house comfortable for your needs and enjoy it before the start of the next chapter of your life.

      Best of luck!

    • Malcome A
      3 years ago

      @Lorraine Du, any update? Ps the house is beautiful & I hope you’ve found a buyer.

    • Minnie von Mallinckrodt-Grant
      3 years ago

      Hi Lorraine, your house is beautiful. I have been in property for around 20 years and one of my flats which is in a stunning location and grade 2 listed was very tricky to sell actually. It was quite niche... as in the right person would give their right arm to buy it... but many were not interested. I had to wait for the right time to sell. I tried 3 times in the last few years. This time it sold for full asking price and fast. I have sold a couple of other houses for the asking price. What I have found is that 1. Staging is everything. 2. Timing is everything! 3. Price it to sell and don’t haggle.

      1. Most buyers lack imagination and want the ‘feeling’ it’s the right house which is all to do with psychologically and subconsciously they walk in and imagine themselves living there.

      Your house is beautiful and very grand. If it feels cold you must get the heating sorted. I would also suggest hiring a company who can bring in extra props to stage the house and make it feel more relaxed and as if children live
      /visit the house because it’s a family home.

      I also think it might be worth paying a draftsman or an architect for some simple drawings on how to remodel to make it flow better. These have already been suggested but in a house like yours I would expect a bathroom per room or at least one larger bathroom per two rooms. Just consider the remodel for an ensuite/dressing area in your master and move the WC downstairs to allow the garden room to flow off the main hallway. Then you don’t need to touch anything but you give the buyer the view of how it could be and stir their imagination. Also stage the downstairs room near front door as a home office.

      1. Timing: if you don’t have to move yet then don’t but if prices drop then you will be in a worse position. If you can wait then do. This is a vague answer but sometimes the timing isn’t right. You might have to sit it out for a few more years.

      2. When I put the houses up for sale I put them just at the price I felt would get a bit of a frenzy going. But it was also a price I would be happy to sell for to do what I wanted to do. What’s that number for you? (Don’t have to say but think what is that number?).

      You can’t change the road. But perhaps there is a way you can change the access. I had many people over the year tell me I can’t do something and I made it happen anyway. No is sometimes not yet, not the final answer. Call the planning office and see what can be done but ultimately it is what it is. More hedges can dampen noise, even water features can help drown out road noise. Don’t worry about your neighbours objecting. Most people object to works on the regular. As long as you hire a decent architect who knows the local planning people and you create a relationship with the planning office you might be able to find a different solution and the neighbours can object all they like but it’s down to whether it meet the planning officers approval.

      What you have to consider above all else is who your target buyer is and cater for them. For example my properties were very much for single professionals. Don’t try and be everything for everyone you will miss the mark. Stage it from that perspective; who would buy your house? A business person would have that kind of budget. They don’t have time to garden, they need a home office where it’s quiet, they want convenience, is the road offering faster access to airports, transport links? Good private schools nearby? Does it offer the ego boosting status they require to validate themselves? Sounds daft but this is what is subconsciously going on in their head. Can you create a home gym at your house? Is there space for a hot tub or summer house for BBQ’s? What else do they want? If a family they want seperate living areas, perhaps a media room and a drawing room? Does the house flow easily? Can a parent see their kids in the garden from the kitchen? The ponds can have grates out over them so not a big issue. How much does it cost to maintain the garden. Spell it all out for them. Anticipate the their objections and questions. Give them the answer in advance.

      Hope this helps! Xoxo

    • Sarah
      3 years ago
      last modified: 3 years ago

      A bunch of very good points from Minnie. Staging would be well worth while at your price range, I should think. Also, get a video done, which shows off the good points and if possible shows that the noise/access are not as bad as they perhaps appear at first glance.


      Edited to add: get the staging done before any video! And include Minnie's suggestion of children's room/s and a study.

    • Lorraine Du
      Original Author
      3 years ago

      Wow! Thanks Minnie!! And Sarah.
      I am going to study your suggestions. We have Agent no 4 calling in to see how we are doing this week so I will discuss some of your points with him. I think he is pretty slick at giving staging points. It’s hard isn’t it, the house is large and really flexible for home office / gym needs. We have a separate dining room that could easily be designated a home office. It’s knowing what people want. Plus there are 2 rooms off the kitchen, one smaller that could be a kids’ playroom and then a bigger one currently used as a hobby room (sewing etc).
      We have considered installing an en suite and have a builder looking at the physical aspects of such.
      Anyway, I will feed back when I have more info and post some pics when the Re Dec is complete. We don’t plan to relaunch for sale until at least March so this gives us some time.
      I am very grateful for the time you took to write of your experiences Minnie.

    • Minnie von Mallinckrodt-Grant
      3 years ago

      You’re welcome and Sarah’s point actually is brilliant! Video! When I sold my flat during the lockdown I asked my tenants to make a video for me walking through the property and looking out of windows. I sold on the first viewing. This is a game changer!! Good luck and let us know how you get on. And remember if you simply pay for drawings this will be less expensive than doing the actual work and it’s to give people ideas... you can even pay to get the drawings rendered into 3D so they can imagine each room without you having to do any work to the property. :)

    • Minnie von Mallinckrodt-Grant
      3 years ago

      By the way all these things you can do suggested by everyone will hopefully override the road issue. That’s what your seeking to do... make the road an easier compromise

    • Lorraine Du
      Original Author
      3 years ago

      Thanks Minnie, you are a star. Video is part of Agent Number 4’s strategy too. Plus shots of the house lit up in the twilight. I promise to feed back later this week. ❤️

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