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?!

What Council Tax band are you. People may be nervous about the "mansion tax" increase to their Council Tax payments.

I’d like to move house but I don’t want to fix a mortgage rate in the current climate. Many people probably feel the same.

Nooooooo! We may be a bit guilty at “beige-ing” the house, but definitely not grey. No mirrored furniture etc.

If I was to put my house on the market now it would be in the same sort of price bracket as yours - I think those are the houses that are really struggling the most at the moment from browsing Zoopla etc…We would like to move but have decided it’s more sensible to stay and spend money on this house for now. We will think again in about 4 years. I suspect bad as it is now the market will get worse over the next 12 months not better.

If you don’t want to post a link people will think this is a fake post…,like many posts on this site!

In our area, the 3-4 detached house prices seem to have stagnated.

Are there lots of new estates being built in your area? If so, people wanting these new build- ish houses maybe able to get new build discounts.

Most likely the market - with economy about to tank and interest rates likely to rise due to energy crisis (and a possible house price drop) who’d over leverage themselves right now? Especially to a large home.

But (no judgement) ‘very neutral’ in a new build sounds like it could read as bland, especially in photos. Most people like some sort of character to ‘sell the lifestyle’ they could have in the home. Could you do a viewing day to generate interest? Maybe dress up a little with second-hand/hired artwork, rugs, throws etc. for a photo reshoot?

For the love of god not all new builds depreciate like cars, in fact I expect very few actually depreciate at the rate of cars. This is such a bloody moronic statement. Please do research some actual facts and figures before spouting this utter nonsense.

Signed, someone who has owned 3 new builds.

Feedback has been:
Looking for something a bit bigger
Decided they want a 5 bed
Want to put an offer in but need to market/sell own house first
Decided against the area - want to be in the city

Why would this be a fake post?!

I thought this. Unless there is a significant reduction in would opt for a new build.

I’m always put off new builds because of lack of storage and often small gardens. A four bed new build can often have the space of a less new 3 bed.

The feedback suggests that one of your viewers thinks they can maybe stretch to a 5 bed for a similar price or that it is not big enough for the price.

It’s an indication of how bad the market is now that the agent allowed a viewing by someone whose house isn’t under offer. It’s not your house @Housesellinghelp, it’s any house - especially in that price bracket.

The fact that you have reduced the price significantly within 8 weeks could be off putting. Viewers might think there's something wrong with the house if you appear desperate to sell.

Plus some time wasters who haven’t sold yet.
How many square meters is your house Housesellinghelp?

So, size is the main factor.

Does that mean it has quite small rooms or is on a small plot, ruling out a potential extension?

What are your room sizes, e.g. living room, bedrooms? Maybe yours has less bedroom space than some three beds. Four bathrooms sounds excessive in a 4 bed house.

I’m trying to sell my parents bungalow. They kept it up to date, it’s detached, 3 bedrooms, no chain, fabulous views. Put it on the market last June, changed EA 4 weeks ago. Reduced the price by 40k. 3 viewings in all that time. It’s bleak. And costing me loads of money each month.

How many agents is it on with?

Sole agency created zero incentive for the estate agent to get a quick sale. They know that they will get their commission in the end.

I'd guess the war right now. We are trying to remortgage 75k on a 575 house. Barclays are asking non stop questions over two plus months now. We are zero risk..they could reposses our house, sell it for a third of its value and still get the entire loan value back.

Ie lenders are nervous to lend.

Stay where you are and put the extra money you would have spent on moving and the additional mortgage into investments. Or on some really good holidays 😂

The market is pretty sluggish at the moment and there's a lot of uncertainty. What are houses actually selling for at the moment? Asking prices, anything but very recent sales and offers you got a few years ago are irrelevant here tbh.

What are the bathrooms and kitchen like? In a few years old new build they can often feel a bit dated, which can put people off, as obviously that's not cheap to fix.

At the end of the day, if a house is priced right, it will sell - but that might not be the price you were hoping for.

All that feedback means they are looking for something different. Sounds like you just need to find someone who wants what you have to offer. They’ll be along at some point. A lower price might speed things up but if people are scared at the moment, then it’s a matter of just waiting. There doesn’t sound as if there is inherently anything wrong with the house itself.

I agree we managed no problem with one bathroom and downstairs toilet for 6 adults. No Idea why builders would put in 4. Even 2 beds have to have a downstairs toilet now when built.

You don’t need to post a link OP but can you post the floor plan? People may have more feedback based on that.

It'll be the price. Generally is.

Now is not a good time to sell, and a loooooot has happened since you got that valuation 8 weeks ago. It's out of date.