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AIBU?

to be annoyed when people view our house as a buy-to-let

38 replies

NoWayPedro · 27/04/2013 13:57

DP and me are selling our house; it's a nice starter home for a couple or someone with a small family. We live in the South-East and its not cheap, not that it is anywhere these days. I realise we are v lucky, several of our friends (teachers, IT professionals etc.) can't afford to buy and would love to live in our house.

As much as I want to move, I really don't want to sell to a but-to-let. They swan in, all 'I'm buy to let don't you know' blah blah and only ask questions around how cheap the maintenance would be for the most possible returns.

Really pisses me off - AIBU?

OP posts:

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specialsubject · 27/04/2013 15:05

'selling to a buy-to-let landlord will only take it off the market for anyone else looking for a family home too.'

yes, because the evil devil landlord will of course not rent it to anyone and let it rot empty.

There is a difference between a holiday property and a long-term rental - the latter mean people live in the house year-round, they just pay rent to a landlord rather than mortgage to a banker. You do know that renting a property for profit is not a crime, for either purpose?

OP, feel free to be fussy about buyers. Of course someone buying to let won't have a chain, won't worry about moving dates and may well be a cash buyer as any other way doesn't make much sense now. And anyone who buys a house without asking about running costs is fairly dumb.

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Unami · 27/04/2013 16:06

Um, yes, I know that renting a property for profit is not a crime. As I said to the OP, if convenience and profit are the most important factors to you in this exchange, then fair enough.

But I don't think it's unreasonable to have reservations about the wider social impact of a financial transaction. Nor do I think it's unreasonable to express a preference for a buyer who wants to use the house as their principle residence.

No, it's not quite the same issue as holiday homes, but I thought the debate around holiday homes was interesting in that it's an issue that many people want to see government intervention in, when it actually could be tackled quite directly by people exercising their ability to choose local buyers over investors.

Participating in a free market doesn't always have to mean selling to the highest bidder.

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Rain1975 · 27/04/2013 16:14

Yanbu we have just sold our house as a part exchange so when viewers came it was no longer my house to sell. Still hope a family with small children and dogs buy it. We loved living here and I want people to love it as much as we have.

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aldiwhore · 27/04/2013 16:17

YANBU, if people cared more about who bought their houses then there would be fewer problems with empty towns in some of the more desirable areas of the country.

Saying that, if you need to sell y0ou need to sell, a buyer is a buyer.

I guess you do have to put your own needs above everything else, but if you can afford (time wise and cash wise) to hold out for someone you'd like to buy your home then I don't have an issue with that at all.

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complexnumber · 27/04/2013 16:17

I can sympatise as your house reflects a lot about you. I felt more than a little sad when I drove past my childhood home to find it demolished and turned into flats.

But, I think you need to try to remove the emotion and stick to reason.

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QueenOfIndecision · 27/04/2013 16:25

i sold my house years ago 2003 but loved it. two people both offered the asking price on the same day (in retrospect i think i cuold've got more for it but anyway). one was buy to let the other was a young couple wanting their first house (it was a 2 bed terrace in a midlands city). i instructed the estate agent to sell it to the couple. i agree with others, it is important to help people get on the property ladder. lord knows the gap betwen the people who can afford lots of homes adn those who can't afford one is too big in this country.

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elfycat · 27/04/2013 16:35

I bought a BTL house a few years back because I fell in love with the property. I've probably lavished a bit too much on it considering it's a business investment and once my tenants leave I will refit the kitchen/ diner because my lovely house deserves better.

I can picture myself living there when I am older - it's part of a converted barn and doesn't have a garden but there's a large park metres away.

Just because a BTL buyer has their business head on doesn't always mean they won't love your house.

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Confuseddd · 27/04/2013 17:35

Why is it so inconceivable to some posters that you might forgo profit to do the right thing? I hate the attitude that business and profit trumps any other consideration. Some people think it's naive to help others, which is pretty sad for them. Maybe a bit less bare-faced greed in the property Market would be a good thing!

Special subject, are you a buy-to-letter? No, of course renting out a property is not a crime, but blocking the chances of a family owning a property in order to secure oneself an 'investment' is one of those activities that seems morally dubious to me.

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propertyNIGHTmareBEFOREXMAS · 27/04/2013 17:40

Yabu. Go for the most money you can and to fuck with who buys it. Fingers crossed for a bidding war if it is a desirable letting property.

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Fluffy1234 · 27/04/2013 17:45

Even if a family/couple buy it the house could still end up being rented out. I know lots of people that have become accidental landlord/landladies.

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WafflyVersatile · 27/04/2013 17:49

YANBU. BTL is a fucking blight on communities.

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dogsandcats · 27/04/2013 17:53

YANBU. What is the use of principles to anyone, if they dont follow through with them?
Else it is all just meaningless talk.

Only thing I would add is that you can end up selling your house to the nicest people in the land, but they, for whatever reason, may end up reselling at any point in the future to whomever they want.

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DeWe · 27/04/2013 19:06

I know where you're coming from. When we were selling we grew to recognise buy to let very quickly...
Walk in, barely glance round, say "very poor condition", put in ridiculously low offer. At one point one put in an offer that was only just over 50% of the value-and we were selling cheap anyway. They'd say they were cash buyers, so expected to get it cheap.
They would have been able to rent the house out for about double the morgage per month assuming they'd needed 100% morgage too.

So ime the buy to let don't raise the value of the house.

We did in the end sell cheaply to a lovely lady who is still living there. At £60K more than the highest buy to let offer. That being about 1/3 the price of the house she paid for.