6 months ago - me and my siblings sold our childhood home for £500,000.
My parents bought the house when they got married in the 60s.
Both parents dead now, so estate sorted out between us.
We sold the house to an experienced developer.
My siblings and I have moved out of our home town but my daughter has moved into a flat about a mile away from our childhood home. Anyway - 2 days ago my daughter was visiting me and out of curiosity scrolling through her phone at local property sites and suddenly called me over -
anyway - to my surprise my childhood home was on the ‘for sale’ section - I was so shocked my initial thought was that it was the house next door to my parents that was for sale which looked identical from the outside. I honestly thought the developer could not possibly have done the property up so quickly ! But no, it was our old property.
‘I’m surprised about 2 things basically :
- The speed it took them to develop and modernise many - or even most aspects of the property - it was actually on the market last month so that meant it took them 5 months. Don’t get me wrong - I know we sold it to an experienced developer - who wouldn’t waste any time and would be very efficient with the progress of the property - but even so !! 5 months? I thought it would take them at least a year.
- The price. We sold it for £500000 6 months ago - it’s now on the market for £800000 - a 60.% mark up! If it was resold I expected the selling price to be circa £650k and only around £700k at the very most.
if it sells for the £800k asking price that’ll be the second most expensive sale ever in the street - this is surprising as it’s a semi detached house and the most expensive went for £820k 8 years ago - but detached.
The pics of the house look absolutely lovely - they’ve modernised it to a great standard - bathrooms, toilet, kitchen looks gorgeous and my goodness it needed loads of attention - my mum let the house go to seed after my Dad died - it was too big for her living there alone - it was a lot for a young adult in prime health to manage alone let alone an 89 year old !! They’ve also kept some of the lovely original features. It’s so nice to see our old childhood home so loved and modernised and less tired looking so I tip my hat to the developer and really glad we sold to him - but -
AIBU to be surprised by the speed of the turn around and the amount of the price elevation on the property? Or is this normal ?