AIBU to wonder why our fairly priced new-build house is not selling?

[Housesellinghelp]

We have a 5 year old ‘new build’ is a very mumsnet ‘naice’ area in the catchment area for some of the best state schools in the UK. A big 4 bed with four bathrooms, decorated very neutral and fairly high end - it’s definitely a nicer than usual new build. Garden isn’t overlooked, triple driveway, neighbours are staggered so not cramped. Three large doubles and a single bedroom (that could get in a double at a push).

We had our house valued by 3 separate agents. All valued the house between £675-£700k. We listed at £675 as we’d like a fairly fast sale. That was 8 weeks ago. 4 weeks ago we reduced to £649k as we’d had 8 viewings and no offers, and we’ve since had a further 2 viewings but that’s it.

I’ve looked at houses for sale in the area and also houses that have recently sold. We aren’t priced above what seems average. We had our house for sale a couple of years ago very briefly and received an offer for £690k but we changed our minds and pulled out of the sale.

The estate agents have no feedback for us either. They say nobody looks around and criticises anything. The only after viewing feedback we’ve had is that a couple of viewers wanted something a bit bigger/a 5 bed.

Any ideas as to why the house isn’t selling?!

I dont mind a kitchen/ dining room knock through but this vogue for sitting room / kitchen all in one is awful
Friend bought a 5 bed house, 3 storeys and the downstairs is all in one room.
Its like a holiday let

I can't speak for others but I don't like new build houses. I especially don't like them after about 5 years when you typically start experiencing quite big issues.

The last time we moved, the estate agent told us (and I still cannot actually believe they openly told us this..) that they have a number of people on their books who will, and I quote, “go and view anything”, so that seller thinks that there is lots of interest in their home.

Quite why they told us about this slightly cruel tactic, is beyond me.

I wonder if the same thing might be happening to you?!

I appreciate that it is extremely frustrating if viewers are not giving any feedback!

I think that's a real possibility now. Its going to be a painful slow process though. It might take 2 years for prices to re-align with affordability. Only those that absolutely have to will buy or sell. That will eventually reset prices but not quickly.

Why are you stalking looking?

We have never in 15+ years of living here known homes in our village not selling and we currently have 3 on the market dropping prices.

It’s normally an absolute fight for this location and they are having to drop and still no viewings and offers, one has dropped from £950 to £825 in the last year and still nothing.

I just think what everyone has said interest rates, taxes and cost of living have frozen the housing market.

Mine is three storeys but not all in one.sitting room, dinning room, kitchen, breakfast room and utility plus WC. Beds on Ist and second floor.
It's what the op wants but it's in Wiltshire not the Midlands sadly.
Last year letters through the door now low interest. No feedback other than worried about col.
I love my house and compared to a period property we have everything local but live in a AONB. I'm just too disabled to get up and down the stairs.
This thread has scared me a bit.

New builds are ten a penny now. If i wanted a new build, i would be buying a completely new house, not one that's 5 years old. Often new builds come with lots of deals like deposit schemes. You can pick your own kitcheb/bathroom in most. Perhaps people want to make the most of these deals and perks, which arent available with a 5 year old house.

Also... would you really want to sell/buy right now. Interest rates have gone insane. I think people are battening down the hatches. Someone who could comfortably afford your home in January, because of interest rates are completely priced out of your bracket.

Plus I think theres a trend away from modern and back to farmhouse/cottage styles. The age of grey walls and white shiny kitchen cupboards are over and traditional/homely is "in"

I think the markets not great. Our neighbours took over a year to sell, normal 3 bed semi they used to go quickly. Mortgage rates are high, cost of living high. People waiting to see if rates go down. I'd like to move but will wait a couple of years, rather be safe in a low mortgage at the moment.

OP can you not take some screenshot of the house listing without the full thing? Or take the images and chatgpt it so its not recognisable but the main features remain - or chatgpt just makes each room empty.

I'd expect to pay £600k tops New build loose value in the first few years. Remarket at £595 same as you paid and you'll get multiple viewings and offers and may well go for over asking. You've priced way too high. You got the new build premium you can't expect your potential buyers to pay it when it's no longer new

My friend is selling on a road where houses usually sell like hot cakes. Think close to one of the best state primaries in the county. Best house on the road, often admired. She went on the market at a high ish but not unreasonable amount.

She had two viewings. just two. A few years ago, she would have had an Open Day by appointment launch. She would have a number of good offers. Two viewings, one offer which she feels she has to accept. She is selling because her parents are unwell and she wants to move closer.

The market is very, very slow.

Dont forget that FTB who took out a Help to Buy ( H2B) loan will probably now be having to pay them back if they sell.
So anyone in a 2/3 bed who wants to move up the ladder will have lost the new house premium, plus my personal opinion is H2B artificially inflated the market along with zero stamp duty.
People were racing to buy new houses
Their house price will have dropped plus they have to hand over 20% of the sale price
Ouch

Because no one can give you an answer if they can’t see your abode!
Maybe it’s decor, maybe it’s the garden, maybe it’s the hand painted St. George’s cross on the outside of the next door neighbours house?
who knows?

It's for sale of course she can post it it's out there on the internet already, not posting is ridiculous

Where is it op? That's a lot to pay for a 4 bed, a lot of people aren't after new builds because they tend to have issues, and I would imagine a lot of people are wary about getting a mortgage at the moment. It may just be that people aren't looking right now.

What did you pay for it 5 years ago?

Those 15 years were the absolute peak of money printing and interest rate cutting though, now is back to reality time.

Why don't you read the OP's posts?

You have looked at the price of comparable houses but are they actually selling? It may be the market is just really slow in your area.

It’s not the Decor these days people expect to move into a property and practically demolish it and start again. In fact if it was beautifully decorated most people wouldn’t want to buy it. Where’s the Instagram flex in that?

It is price and demand, it is nearly always that. New-builds are for staying in for decades not making a profit on, the developer makes all the profit.

It is 15 pages, how much did they pay?

Im wondering if this is a fake post. I cant find a single 4 bed in Hampden In Arden for £649k

Maybe im just being dumb or you wanted to keep a bit anonymous so chose to increase/decrease the figure you quoted (no biggie 🙂 im not complaining).

This is what you're up against: https://www.rightmove.co.uk/properties/171424265?utm_campaign=property-details&utm_content=new-homes&utm_medium=sharing&utm_source=copytoclipboard#/&channel=RES_NEW

Deposit boost
Keyworker schemes
Part exchange (so nobody has to wait for you to find a new home before they move in).
Solar panels (you didnt mention any)

Other things it has going for it yours might not
South facing garden - a BIG plus for me
Utility room (these are really "in" right now previously there was more of a trend of really open plan spaces
Separate dressing room (ooo lala)

Its also got a massive marketing brochure, team of dedicated sales people who will sell it up - rather than estate agents who will literally take anyone to any house they have listed for their budget. Plus its decorated like a show home. No matter how hard you try its never going to look as showhomey!

I would never consider a new build because they are usually poor quality.