Compare these two properties for me?(36 Posts)
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?
Interesting point married - I told both agents we were prepared to do some work to sell/add value and asked their advice and both said maybe touch up the paintwork a bit but don't worry this will sell. I specifically asked about the ensuite and both were very emphatic that it wouldn't put buyers off and wouldn't increase the value (well not by more than we would need to spend anyway)
I've already decluttered to within an inch of my life
Also interesting points about location. The views are nice at the other house.
I'm lining up a couple more valuations for early next week. It's not that I expected my house to be worth loads more, I just was surprised it might be worth 100k less!
Before I read the rest of the thread I would have said about the same. Some people like Central, some like country and would probably be prepared to pay a similar premium for their preference. Period property trumps modern, but detached trumps semi-detached. Also I would say after you reach a certain size people care more about downstairs living space than upstairs as most people don't actually need that many bedrooms.
You do need a third opinion though.
Thanks for all your thoughts - it's really good to get some different perspectives - I am obviously completely biased
Estate agents told us we didn't need to redecorate to sell. We didn't and we have sold (I think - awkward purchaser, so not sure it will go through).
But what I have noticed is that the houses with immaculate décor tend to sell quicker. On reflection, I think estate agents just want to take you on as a client now and don't want to risk another estate agency getting the sale.
The other thing is that if you can add, say £15k, to your house value for a immaculate condition, even if it costs £5k to get there, that is a £10k profit for you. Yet that extra £10k is only worth another £100 to the estate agency as a whole (assuming 1% fees) and even less to the individual agent who sells your home. So of course they're going to tell you not to bother.
Interesting point cavell - presumably the agents want us to sell quickly too though?
I was definitely getting the we want you now vibe from one of the agents - she was trying to convince me that there won't be a quiet period over Christmas this year
I think it is detatched over semi & you also say that you have the original sash windows whereas the other one has double glazing. Given the ever rising costs of fuel I think people are more & more thinking about this when they buy.
It depends on location too and what kind of a market you're in. Having lived in a victorian house
money pit as much as I loved it, its not something I would now choose with a young manic family and very little time / money to commit to refurbishment.
With a young family, I want a ready made house, big garden, lots of downstairs play / entertaining space and a bedroom for everyone. Doesn't really matter to me whether a child's bedroom is a large single / double as long as there's a 3rd or 4th bedroom etc. I think that probably accounts for the difference in value - sounds like House 1 is that kind of ideal family house.
I also agree with a previous poster where you'd expect for £500k / £600k to be getting a detached house unless the semi was "wow". Its not just the noise from inside the house, its the noise from the garden / being overlooked etc.
Do you have a garage or OSP in yours?
Are there any school catchment impacts?
These 2 factors make all the difference in my town, especially the schools point, at least 1-200k difference to a regular 3 bed semi.
"presumably the agents want us to sell quickly too though"
If you don't sell quickly, the standard EA advice is always to drop the price. You lose out a lot more than they do - even a £25k price drop only costs them around £250. The important thing (to them) is to get you on the books in the first place. That is why (IMO) they nearly always say it isn't worth re-decorating or generally doing up the place before putting it on the market.
But to go back to a general point, a detached will almost always attract a premium over a semi. £100k? Difficult to know without seeing the two properties.
You mention a loft room, I assume it's called this because you don't have the building regs/planning permission for a loft conversion.
Would it be worth more as a 5-bed plus study rather than a 4-bed plus loft room? Could you get the correct regs/permissions?
One thing estate agents aren't renowned for is underestimating selling prices...
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