Compare these two properties for me?

(36 Posts)
ShoeWhore Thu 17-Oct-13 21:18:03

Both are in the lovely small town (think big village) where I live.

House 1: Detached, modern (but attractive house), OK road, on edge of town (20min walk up v steep hill). Smallish garden with patio and lawn and views over fields (no borders or trees). Stunning kitchen/diner and family room, v high quality kitchen. 2 further small reception rooms, one with wood burning stove. 3 modest sized double bedrooms, 1 very small single. Family bathroom, small ensuite. Single garage. Immaculately presented.

House 2: Semi detached, Victorian, central but very quiet location, one of nicest roads in town, 5 min level walk into town, views from bedroom windows. Slightly larger landscaped garden with lots of mature trees, shrubs and borders, patio, lawn and veg patch. Good sized dining kitchen with walk in pantry, open plan dining room off kitchen. 2 big reception rooms with original fireplaces. 3 big double bedrooms (2 with original fireplaces), 1 small double bedroom. Large loft room (currently used as study at one end, additional spare bedroom at the other). Family bathroom, large ensuite (ensuite needs updating). Bags of period features, original sash windows, big square rooms. Well presented, neutral décor but not as immaculate as House 1.

If House 1 has just sold for around £600k, how much would you expect House 2 to be worth?

CallMeNancy Thu 17-Oct-13 21:21:38

More

Blu Thu 17-Oct-13 21:24:06

Quite a lot more.

Floggingmolly Thu 17-Oct-13 21:25:05

Considerably more. Location trumps everything else.

WinkyWinkola Thu 17-Oct-13 21:25:23

About £150k more. Any links? I love nosing at houses... ... ...

CallMeNancy Thu 17-Oct-13 21:26:10

And Victorian trumps newbuild.

suebfg Thu 17-Oct-13 21:29:42

Impossible to say without pictures.

Not everyone likes older houses either - having had one, think of the upkeep. Although would agree that a more central location adds value - unless it is on a pub run or parking issues

ShoeWhore Thu 17-Oct-13 21:29:59

Sorry Winky daren't link as it will definitely out me!

House 2 is mine grin and I've just had it valued by 2 agents today. 1 valued it as about the same as House 1 (which I think might be fair, the kitchen/diner in House 1 is really special) and the second at 100k lower shock which surely can't be right?

ShoeWhore Thu 17-Oct-13 21:31:18

No pub run or parking issues suebfg - road is considered very desirable.

C0ffeeN0biscuit Thu 17-Oct-13 21:34:53

Is house one significantly bigger? Sq ft ?

KnittingAndCleaning Thu 17-Oct-13 21:35:56

Your house sounds so much nicer, can we have a link to the other house?

suebfg Thu 17-Oct-13 21:37:43

I think you might be trying to compare apples with pears as they are very different properties. I presume you've had a look at recently sold prices, not asking prices, for houses similar to yours - that is your safest bet IMO and will give you a more realistic view of the achievable price. I can't tell you how many houses I have viewed at a similar price point that have sold for £100k+ less than the original asking price. All it takes is one ridiculous valuation from an estate agent to win the business and suddenly the house prices become over inflated.

C0ffeeN0biscuit Thu 17-Oct-13 21:37:46

Oh. Got it. Did house 1 get 600k? Or was it valued at marketed at 600k

Hassled Thu 17-Oct-13 21:38:51

I have no idea re the ££ but from your description I want your house. My top advice is to stop trying to sell it grin.

BackforGood Thu 17-Oct-13 21:40:15

I'm surprised at all the responses before your 2nd post OP. I just read the 2 descriptions, and thought we were going to be asked 'which would you pick?' and had definitely gone for the first house in my mind.
Maybe that's because I live in the reality of a Victorian house though, with the bills that come with it.

BrianTheMole Thu 17-Oct-13 21:40:34

Yours is a semi though, i wouldn't think that was worth as much, unless the area was very special in some way.

BrianTheMole Thu 17-Oct-13 21:41:51

Yours does sound nice though.

suebfg Thu 17-Oct-13 21:43:14

BackforGood, my thoughts exactly - I think you need to live in a period property to appreciate the downsides.

BackforGood Thu 17-Oct-13 21:46:01

Yes, I forgot to say that. Like Brian I would expect a detached to sell for a considerable premium over a semi detached.

bigbrick Thu 17-Oct-13 21:46:26

Would have thought about the same price with the land value being higher in the village centre as possible construction

suebfg Thu 17-Oct-13 21:51:06

We have bought a modern detached house slightly more on the outskirts of a nice area and the period semi detached properties that are more centrally located tend to sell for a little less. The period detached properties that are more centrally located command a higher price though, often significantly higher. Round where I live, people tend to expect detached at a certain price point.

ExcuseTypos Thu 17-Oct-13 21:53:42

I would have said 1 was worth more because its detatched and in 'immaculate' condition. I also think its location-with views over fields would be worth more than being in the middle of town.

We live just in the outskirts of a village, the houses in our lane are worth more than those in the village.

However I think £100,000 difference is ridiculous.

ShoeWhore Thu 17-Oct-13 21:53:47

House 1 has just sold for £600k. It is modern but built in the local vernacular and very attractive.

Upstairs my house is significantly bigger. Downstairs I'm not sure how the square footage would add up.

Although ours is a semi, it's halls adjoining and thanks to that plus thick walls, we hear literally nothing from next door.

I know I'm trying to compare apples and pears really, it's just a small place so not much to directly compare. I was a bit shocked by the second valuation tbh.

Hassled grin I don't want to sell it either really - we need to relocate for work and what our budget gets us where we need to move to makes me weep. sad

marriedinwhiteisback Thu 17-Oct-13 21:56:36

I think you have summed it up yourself. Neutral decor but not as well presented as house 1.

It's about presentation and life style I think. Have you asked - if we spent £5 - £10 k on x and put some things in storage and dressed the windows - how much would it be worth then. I think you might be surprised.

Get a better agent back and ask them for a what if valuation and for advice on what you need to do to achieve it.

I prefer the sound of your house btw but you have made it sound every so slightly tired and a lot of people have absolutely no imagination.

suebfg Thu 17-Oct-13 21:59:47

Can you get any more agents round?

I've tried all sorts of tricks to try to value houses - including square footage calculations - but it's not an exact science. You can't account for light, the general feel of a place and what someone is prepared to pay for it. (I'm not an estate agent by the way).

What I would say though is that you need to be confident of the value of your house. Again, from experience, if the price is too inflated, you will lose the initial interest from buyers which can be very hard to win back and you could well end up selling for less than your house is worth. Once a house is on the market for too long, people start to wonder why.

It really pays to do your research and ensure the price is set at just above the realistic level you should expect to achieve.

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