Very Similar Properties; VERY different Prices!

[CaveMum]

A quick straw poll please.

By coincidence we have put our house on the market in the same week as our next door neighbour. I don't know their situation as it is a rental property and in the last 2 and a half years I have only seen the landlady once, but we have been planning on selling to move to a bigger property for about a year.

The thing that is bothering me is that the houses are on at very different prices. Both are 2 bedroom Victorian houses, ours is mid-terrace and next door is end terrace. Both have "cottage" gardens, though next door's is more or less totally taken up by a large shed/studio.
Granted next door has more period features than we do (they have several original fireplaces, we have 1 reproduction,but still working, fireplace).

We have put ours on for £172,500, next door is on at £215,000!

Our agent thinks next door is massively overpriced - the owner paid £220,000 just before the crash in 2008 so is probably trying to get her investment back - and that it will work in our favour.

I guess I want to be reassured that we have not underpriced our house - the two agents we had out to value it both said "around £170,000" so I cannot understand how next door can be priced so differently.

Next door

Our house

I know I am baised, but I think we have a better set of photos too If you look at the room dimensions, you can see that there is not a big difference between the two houses.

[QuintessentialOldMoo]

It might be worth it, if only for the possibility of making a two bed house into a three bed house with a second floor master bedroom with an ensuite bathroom, and a Juliette balcony overlooking the garden!

[tyler80]

It may be that they've set the asking price a lot higher but would accept a much lower offer. Buyers like to feel like they're getting a bargain. Asking for 215k and accepting 200k might be a better strategy for them than asking for 205k but still wanting an offer of 200k

[bibbitybobbityhat]

Just been nosey and wanted to say your house is absolutely gorgeous CaveMum.

I'd say the house next door is worth £20,000 to £25,000 more than yours.

Am very curious as to why messages have been deleted on this thread??? Surely there's no excuse for a bunfight on this subject? .

[CaveMum]

No idea why posts have been removed, I'm not aware that there was anything offensive!

Just as an update, we had our first viewing this morning (with 2 hours notice, queue frantic cleaning ), a couple about the same age as us (early 30s) in rented accomodation. We didn't get any vibes off them so were not sure what they thought, but within an hour of leaving they had made an offer! It was a fair bit below the asking price so we turned it down, but hey it's a good sign
We've got a few more viewings lined up for this week already and the agent said they've had quite a bit of interest today, so things are looking good.

[libelulle]

I managed to inadvertently out myself courtesy of my iphone so asked for the relevant posts to be deleted - no bunfight involved, sorry

[CristinaTheAstonishing]

I was curious about the deletions too :)

[Royalcucumberchopper]

I'd say the extra width in the kitchen would make me pay the extra unless and extention could be added. Your bathroom is extra lovely though!