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Property/DIY

Join our Property forum for renovation, DIY, and house selling advice.

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Original poster

House for Sale

17 replies

Orianne · 14/04/2013 13:40

We have been dithering for ages about selling our house, it's not officially on the market yet but we've had two viewings. Both viewers have been lovely but I absolutely hate it. This is my lovely home and I can't stand people nosing around it. Any tips for getting over myself and thinking about the big picture?

OP posts:

AliceWChild · 14/04/2013 14:31

Have you started looking yourself? I became very detached from my house once I looked at others.

Crutchlow35 · 14/04/2013 14:45

Get the agent to do the viewings and go out.

Original poster

Orianne · 14/04/2013 14:45

No, I think we're going to rent for a couple of years and make some money by buying off plan.

OP posts:

Original poster

Orianne · 14/04/2013 14:48

Crutchlow, I think that's what I will have to do. I did sit downstairs this time but its not far enough away. It probably is the thought of moving and then having to move again!

OP posts:

CuddyMum · 14/04/2013 15:26

Definitely go out whilst the agent conducts the viewings :)

wendybird77 · 14/04/2013 19:29

Go out. It will help sell the house anyway - I hated viewing houses when the owner was there. You can't speak freely and it feels very much like you are invading someone's house.

lalalonglegs · 14/04/2013 19:41

Unless you're In an area that you can guarantee will boom or you are on very friendly terms with a developer, I don't think there's much money to be made buying off-plan. You pay such a premium for a new-build, it would have to be a fantastic bargain to yield a significant profit.

Jaynebxl · 14/04/2013 19:49

What does buying off plan mean?

Crutchlow35 · 14/04/2013 20:03

A new build is off plan

Jaynebxl · 14/04/2013 20:50

O ok thanks. So how do you make money by renting then buying a new build?

Jaynebxl · 14/04/2013 20:51

I did all the viewings for our house and it made me feel quite proud of our house showing people around, so I think I was a bit gushingly enthusiastic! It worked anyway.

lalalonglegs · 14/04/2013 20:58

The idea is that you buy before the house/flat is built and you only have the plans to go on - hence buying "off-plan". It used to work like this: you only needed to put down a small amount to reserve the property or, at the most 10% if you were going to exchange, the development would then take several months or even a couple of year to be built (depending on its size) during which prices kept rising so you could sell on at a nice profit before you had to complete and never have to spend more than a few thousand. Some people would buy several, even a dozen properties, knowing that they would never have to fund them themselves.

The problems came when developers started charging a bigger and bigger premium for new-builds meaning that fewer people were willing to buy them off you as banks weren't willing to lend against the prices quoted and, of course, prices started falling in most areas. As an aside, this sort of property speculation was largely responsible for the Irish financial crisis.

Jaynebxl · 15/04/2013 05:34

Thanks. Very clear explanation. I guess it is also dependent on house prices rising significantly to make a profit.

TheRealFellatio · 15/04/2013 05:37

Just get an agent to do it! That's what you pay them for. these days with the internet they don't do much else to earn their money.

TwentiethCenturyGirl · 15/04/2013 19:28

Get the agent to do it.

I find it excruciating being shown round a property by an owner. I'd always rather have the agent show me round.

BooksandaCuppa · 15/04/2013 19:37

It would be extremely difficult in most areas to make any money from buying a new build property. Traditionally (ie before the last boom), it's always been something that's thought of as the opposite of a good idea, financially. You overpay for a new build and usually have to wait a good few years for the value to catch up with what you paid for it. The last property boom masked this (but in most cases, non-new builds still went up higher in value in a comparable period).

(Quick example - during the worst of the recent recession/housing slump, most lenders wouldn't lend more than 75-80% LTV on new builds, or more than 60% on new build flats, as they knew they would go down in value.)

Not saying that this would be the case in the area the OP is in; but wouldn't want anyone reading the thread to think it was a good way of making money!

specialsubject · 15/04/2013 19:37

do the sums and work out the amount of money you are hopefully going to make. Then repeat that as a mantra.

moving house is hassle, trauma and costs money. So make sure it is worth it.

I wouldn't be banking on future huge price rises, I think prices will go up gently but the days of big gains are gone.

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