Renovation or dropping the price?

[MissCalamity]

Hi

Need a bit of a help here ladies! Our house has been on the market for nearly 3 years now and suffice to say it's really getting us down.

We put it up just before the credit crunch, so bad planning on our part. It was initially up for £160k and we dropped the price to £145k as we'd had no-one looking at it for 2 years (the estate agents were quite crap as well)

Anyway, last spring we decided enough was enough and got a new EA on the case and they have been so much better. The price is now £140k and we've had roughly 10 viewings, and all mostly positive comments and one offer of £133k which DH knocked back, then again at £134k which was also met with a no (his house) I was fuming, as I've tried to explain on various occasions that we're going for a bigger house, can knock more off etc.. etc..

I do think at £140k the house is a more reasonably prices than at the original £160k, there are another 4/5 houses on our road up for sale and ours is £10k more expensive, due to having an extension, off road parking and side access to the garden (quasi-semi)

We've been chatting more about what we can do to get it sold. We currently have a shower room and often I do get surprised at people who come and look at the house and say "no bath?!" We're wondering whether or not to get a new bathroom suite, with a bath as this is probably a bit of a sticking point. The only other room which could do with a bit of renovating is our bedroom, the rest of the house is in good nick. The bath would be beneficial as DS is almost out of his baby bath - but then with the work being done and the bathroom being out of action for a while with a toddler would it be worth it or should we just drop the price by £5k and hope for the best?

Anyone else been in this position before and what did you do?

[IWillNotNeverEatATomato]

Unfortunately I don't think you don't need to drop the price he just needs to accept one of the offers made,

I never expect to pay the full asking price so as a buyer I would also offer under the asking price.

Did your DH tell the estate agent to counter offer to either of the offers made, because they may have decided to come back if he had said they would except say £136

get some quotes for the work to convert the shower room to a bathroom and at least then you will be able to make a more informed decision

[MissCalamity]

Cheers for replying.

DH said he would accept £135k, which in the grand scheme of things is nothing, we did go back to the EA/ buyer after 2 weeks of arguing and said we'd accept £134k but the buyer had already put another offer in elsewhere.

I'm already on the case with looking at new bathroom suites, as I do miss my baths!

[lalalonglegs]

If it is a family house then, yes, I do think you need a bath tub (I'm surprised the agent hasn't mentioned this). The question is, can it be done simply and cheaply enough to make it worthwhile?

I hope you get another offer soon - when were the last ones put forward? If recently, it could be that the area is waking up a bit in the new year. Good luck.

[mamatomany]

I agree you have to have at least a bath, if not a bath and shower ideally.

[MissCalamity]

It's a two bed house, more suitable for FTB's or downsizing. The bathrooms are fairly small so that's why DH originally swapped it from a bathroom to a shower room to create more space.

The last offers I think were summer last year; so hopefully now spring is coming we may start to get more joy. Typically we've seen a gorgeous house on the market at the moment and no chance of even putting an offer in....

[tyler80]

The lack of a bathtub might put some off, but as long as there's space available I think you'd be better leaving it than spending money. Especially as you've had an offer so close to asking price already.