Why isn't my flat selling?

[ratemyflatplease]

Not really an AIBU sorry.

I'm selling my flat at the moment and not getting much interest. I know that ultimately it'll come down to price. But that aside, is there anything in the description or photos that would put you off?

It's in SE London. 3 fair size bedrooms, one tiny box which is only big enough for a single but perfect as an office (which is how I currently have it).

Top floor, so no chance of outside space, which I think lots of people are looking for. Lease has been extended.

Taking a deep breath and posting Rightmove link: https://www.rightmove.co.uk/properties/139866227#/?channel=RES_BUY

It must be a London thing to expect a 999 year lease. Round here anything over 82 years is acceptable - you can't renew the lease for 2 years and anything under 80 years is unmortgageable.

So clearly many people have no vision.

The flat is lovely. It would not cost the next owner much to make it theirs.

What would put me off is the number of floors and no lifts. So moving in and carrying groceries.

I'd target a B2L landlord if I'm honest. There are 4 lettable rooms for some young students....

Your last sentence there makes a lot of sense :)
Ace idea

435 for an attic flat... Yikes. Its nice but think you need to spruce it up for the pics, think plants, interesting things to look at and maybe some Colour.. it's a little lacking and plain. I would feel uninspired looking around if it had not one jot of earth to call its own and no house plants either. I love the velux windows though and library style book shelves. I'd go on FB marketplace and buy some plants and have pics redone. Move traffic cone from parking space for the pics. Little things. Good luck

Describing this as 4 berdooms might be rather generous.

Somebody genuinely wanting (or requiring) 4 bedrooms probably wouldn´t be interested in this flat.

I would suggest putting some colourful picture on the walls, vase of flowers on the table, tv on a stand looks a bit “makeshift” and also takes up space making living room look smaller - would mounting the tv on the wall be possible? I’d also remove the furniture by the window in the living room and put a single seater/ armchair to increase amount of seating in the living room. Also the pictures of the bedrooms don’t appear to show any wardrobes - are there any wardrobes in there in which case I would have photos retaken to show this as again it doesn’t make people imagine themselves living in that space.

service charge is high but also maybe marketing it as a 3 bed might appeal to smaller families/ couples who may not be as bothered about no outdoor space. It’s definitely not a 4 bed so that is misleading

It’s nicely presented, clean and the bedrooms are lovely.

Only thing I would comment on is the living room looks a bit unfinished and ‘studenty’. Could you maybe get a radiator cover? Put the TV on the wall and then put nice bits on the radiator cover?

Might be a bit overpriced - but I do know that house prices are so ridiculous down there! Good luck OP - don’t panic and take a ridiculous offer!

Petty perhaps but I would avoid buying through Foxtons.

£200 per month service charge would be a put-off.

Otherwise a lovely flat

The answer is always “the price”

It looks lovely. But 4 beds and only 1 bath? That would really put me off.

Was just about to say the service charge is an issue. With mortgage costs high, people don’t want to be paying an extra £200 a month. Especially as there’s no garden etc to upkeep, so what what is the charge for?

Flats in that area are difficult to sell (I know has we had to drop price by over £50k to get a buyer for our big two bed flat just up the road, and agent told us many similar properties don’t sell at all, or banks refuse to mortgage at asking price). There are literally hundreds of luxury flats on the market in and around that area for similar or less than you are asking now - many of them in concierge developments with pool etc. many are bought by investors looking to rent out or hold money overseas, many remain unsold. £435k for no outdoor space is a lot of money, because in that bracket and with that size house you are looking at a family home. Leasehold properties in a house not attractive to anyone. I agree that pics look drab - you need to make the place look more distinctive and homely. But ultimately it’s just not a great market for buyers and if you want to sell quick you need to drastically drop the price.

WOW my 2bed flat in zone 3 london is almost same square footage and we have a back garden - we bought for 370 last year!!

I think it lovely and well priced.

The problem will be the living space - because it’s all on the second floor you can’t expand that and it feels poky compared with the overall size/number of bedrooms.

A complete refigure to create a large open plan living and kitchen area on the top floor (+ two bedrooms downstairs and one on the top floor perhaps) would add value.

I would possibly rearrange furniture in living area. The room seems quite narrow and the sofa makes it look more narrow being positioned there. I would move it to under the window and put the TV where the sofa is currently. The sideboard could go on side wall as it is not as deep as sofa so room looks wider.

Well, I think it is just LOVELY!

I realise you won't want to buy new furniture just as you are moving out but...

If you get rid of the glass TV table and put the telly on the wall, or on a shelf, or a dropleaf table with both flaps down, and swap the big clunky dining table and chairs for a set where the chairs fit into the table, it would make the living room look much bigger.

https://www.amazon.co.uk/PUMPIE-Breakfast-Furniture-Space-Saving-Conference/dp/B0CB432ZGX/ref=asc_df_B0CB432ZGX/?tag=googshopuk-21&linkCode=df0&hvadid=658852594227&hvpos=&hvnetw=g&hvrand=12269784794286844628&hvpone=&hvptwo=&hvqmt=&hvdev=c&hvdvcmdl=&hvlocint=&hvlocphy=9045119&hvtargid=pla-2196840463148&mcid=0e475039c8a8397b99702efe02decbf0&th=1

All flats are leasehold.

Some have share of freehold

Some have next to no service charges

Some have 999 year leases

A lease of under 200 / 300 etc would put many off
This properties lease is under 200 yrs

"Next to no service charges"...where exactly??

What would put me off is the fact that the kitchen and living space are separated by the stairs with no option to turn more open plan. I’m afraid I don’t like the spotlights in every room either!

But more constructively, i agree that marketing it as a 4 bed may not be helping you. People who actually need four bedrooms and set their search to four bedrooms are probably going to disregard this as two of the bedrooms are v small and it’s a flat rather than a family house. Tbh most people who check the 4 beds box probably uncheck the flats box so your place probably isn’t coming up in many searches.

Market as a two bed (that price for a two bed in that location sounds about right) and then the young professionals wanting a two bed could be wowed by the chance to get two whole extra rooms.

but yeah most people do want a kitchen living space and would only put up with separate in a rental.

Yes where?

Mine is share of freehold and 999 lease. I am a director but still it's £1000 per year now without a lift (3 story blocks)

Everything costs money. But to be fair the block is nicely gardened and communal areas clean, driving bays recently painted etc.

But 160 year leases are no issue. However the front image doesn't make it look a well maintained block, so that may put people off.

I’ve previously lived in two maisonettes with peppercorn ground rent and no service charges - it’s not uncommon in a small conversion or block with only two or three flats or maisonettes and where there aren’t things like communal gardens, parking, lobby etc. Owners just divvied up minor repairs and general maintenance between us and informed the freeholder when something larger had to be done - which was pretty rare - so they could organise it and we were billed as and when on that basis.

Absolutely this, marketing as two bed with two home offices is perfect for young professionals who are probably now working from home part week so to each have own home office would be a selling point.

Basically, if it isnt selling its too expensive.
I know that sounds obvious but its a fact.

My northern brain cannot rationalize the property prices down south.
Your clearly all insane. Whoever started paying those prices should be birched - I would want the whole building and a garden for that price. Plus the service change.
God no.

Yes, but not at the price, that is the problem