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Original poster

our converted garage isn't selling, market seems to have not picked up in jan

269 replies

pigglewiggle · 18/02/2015 20:15

We've converted our garage into a home. Its freehold and I'll admit its a bit on the small side but if I was in my 20s or looking for an investment I think it would be fab. Its similar in size to one bed flats however has the advantage of no shared walls.

We took out a quite large loan to pay for this (40k) and currently have it on at 175 so were hoping to make a decent profit but its been on for 3 months now with only 4 viewings and no offers. Its getting to the stage where the interest is making a real dent in our finances and eating into the profit. Its all done up to a good spec and is clear and neutral so I don't think that's the problem.

I was to spend some money to put some funishings in and keep the price while partner is wanting to lower the price 10k. Any advice?

OP posts:
MooMaid · 20/02/2015 08:11

Wow I'd be surprised if OP bothers coming back, what a fucking pointless derailment to a thread.

If you do come back OP how many estate agents have you had out to value it & if it still looks like a garage is there anything you can do to change this image slightly with little cost?

bigkidsdidit · 20/02/2015 08:26

Yes I have to say I wouldn't buy a nice family home where the garage was owned by someone else. Too close, less privacy, less garden, and obviously no garage. Selling together might be a better idea.

BauerTime · 20/02/2015 08:35

Well roneik has fucked up yet another thread by going off on one.

Although I must say that there isn't much point to to thread anyway. As we've already pointed out no one can give meaningful advice without seeing what they are advising on, and many of us have tried to find it on he web can't so either OP Has changed the details (fair enough she doesn't want to be identified) or its not on the property search sites which is where the problem actually lies.

VivaLeBeaver · 20/02/2015 08:41

This is the problem with him, he's a total bully who makes it impossible to have any conversation on MN about second homes, being a landlord.

I asked mnhq to have a word with him yesterday morning and they said they would. Looks like he's taken no notice.

Honeydragon · 20/02/2015 09:07

Tbf there's no way I'd put my house our location on here with the crackpot anti capitalist ramblings that are occurring, I don't blame the op for not wanting to do so.

I suspect if it had gone like normal threads she could have posted a few photos, rather than link to RM or Zoopla, but why do it and be subjected to further crap from Roneik?

TeddyBee · 20/02/2015 09:13

There was one converted garage (with furniture so not OP) which looked lovely, nice plants and parking, rooms looked cosy if not massive. OP it was on for £185k if you look for it, why not try and make yours look a little more cosy like that one!

CatsAreLikeChocolates · 20/02/2015 09:26

I'm so sorry to hear your story Sebsmummy . It puts the pathetic, misogynistic ramblings of a troll into perspective doesn't it? I hope you have RL hands to hold at this horrible time.

I totally agree with Viva and Honey that Ron's rantings have made the previously very useful "Property/DIY" section all but unreadable. I do hope that MNHQ will act as this is all getting rather boring. All it takes is a whiff of Buy2Let or the vaguest mention of house prices to tempt Ron out from under his rock to derail the thread. Perhaps we could just post this picture at the start of every thread, so we need no further input from the delightful Ron ?

our converted garage isn't selling, market seems to have not picked up in jan
CatsAreLikeChocolates · 20/02/2015 09:30

To answer the OP, I was always told by my estate agent mum that if you get no/few viewings it's the price, but if you get no/few offers it's the house. I would agree with your other half and either reduce it to £165 or do as others have suggested and either rent it out for now, and/or sell at the same time as the main house. Either way, I hope it works out for you.

Amethyst24 · 20/02/2015 11:13

Ron's MO seems to be to post multiple times so the thread gets longer and read more, but post the same nonsensical rants each time so he adds nothing to the thread, and if that doesn't get the reaction he wants, then co-opt his property price crash cronies to come over and back him up. He's utterly fucking obnoxious.

EnriqueTheRingBearingLizard · 20/02/2015 11:31

Back on track on the offchance that the OP is still reading.

I'm not sure how much of a price reduction would make financial sense given that the main property is now garageless, has less land and a near neighbour. What change in value is there to the main house before and after?

The fact that the conversion was done as an independent dwelling for a dependent relative is obviously the crux of the matter and so is the fact that visually on the outside the property is still obviously a converted garage.
It's not a coach house or converted muse so it isn't going to have the same appeal to new purchasers. What can be done to change that? even some trellis and climbing plants might soften the look a bit. Hard to advise without seeing it.

I agree with others that if it were my decision I'd be marketing as a whole aimed at the larger family or someone who wants separate work facilities.
That might seem radical to you as a family (to move) but it might make much more sense in the long run.
You'd have to get several valuations as a whole and separately and weigh up stamp duty and legal costs both on the two kinds of sale and the purchase.

As an aside I once advised friends to sell up and move when a builder offered on part of their garden. They took the money and stayed put. When they did decide to move it took several years to sell their house.

Amethyst24 · 20/02/2015 11:48

Ah yes, the OP...

With regard to renting, we viewed a "house" once that was clearly an annexe that had been built for an elderly relative. I didn't even look inside once it was clear what the set-up was - there was no way I wanted the same relationship with my landlord, albeit only implicitly through the relationship of my home to theirs, as an aged parent or teenage child. I think the price would have to be massively attractive to outweigh that. Selling the whole property seems like a much better idea to me.

Original poster
pigglewiggle · 20/02/2015 13:19

Eek I'm so glad I changed the actual details slightly when posting here, else I might of got a crazy on my doorstep (looking at no one obvs).

The thing is we were happy to sell it if it made a huge profit, selling it for a much smaller profit just isn't as attractive as it is a compromise . maybe the answer is to just rent it for a few years, pay off the debt and then when it comes to sell put them in together. Although that would make it harder to sell.

OP posts:
AKnickerfulOfMenace · 20/02/2015 13:21

I don't think it will be harder to sell as many people do want an annexe set up.

ATruthUniversallyAcknowledged · 20/02/2015 13:29

It won't be harder to sell if you sell them together. It will be harder to sell the house if you sell the annexe separately.

wowfudge · 20/02/2015 13:30

Well that does explain why no one could actually find it. Don't worry about the ranting - all mouth if you ask me.

HaveToWearHeels · 20/02/2015 13:32

I agree, wouldn't be harder to sell, in fact the opposite. I have two friends currently trying to buy a family home with a separate annexe for a relative and they are not having much luck.

I have stayed off Property/DIY for a while now due to the abuse I received from Roniek, due to me being a buy to fret LL. Apparently will be living in a cardboard box pretty soon after I have single handedly brought the property market to it's knee's by investing in another 3 bed sem Grin

AKnickerfulOfMenace · 20/02/2015 13:47

I think roneik has been banned now.

EnriqueTheRingBearingLizard · 20/02/2015 14:06

I really disagree that selling the whole would make for a harder job. Put it this way, your house is your main asset. How would you feel if having sold the annexe accommodation off now, you come to sell your home and people are put off by having the neighbours in situ and you can't shift it, or have to take less than reasonable market value?

Have you actually registered it separately as yet? as in legal title?
If you marketed the whole as one in the future, then that could be a plus point for buyers as they could either use the whole thing or they could sell off the annexe if they wanted to. You'd make it clear that it would be under their control.

momb · 20/02/2015 14:15

You need to put furniture in. Rooms generally look smaller without and it is hard for people to see how the space will work.

MooMaid · 20/02/2015 14:21

Actually yes, you built it as an annex but didn't get the opportunity to use it. I also wonder if you sold your house and the annex it would actually appeal to people looking at this set up. You could rent it for a while so that you're not losing money and making rash decisions. Splitting the land and the properties could make both difficult to sell in the future

EhricLovesTheBhrothers · 20/02/2015 14:35

What if you sold it, had neighbours basically in your garden and they turn out to be cunts?
Renting is a much better idea. People will pay rent for a garage when they may not pour their life savings into buying one. I know I would never buy a converted garage unless it was stupidly cheap.

RandomFriend · 20/02/2015 14:50

OP, by how much does it devalue your house to not have the garage, to not have that part of the land, and to have a small bungalow next door?

Could you consider furnishing it properly and renting it instead? That way, the two can be sold as a whole when you do come to move.

HaveToWearHeels · 20/02/2015 15:15

what makes you say that AKnickerfulOfMenace ?

ihatethecold · 20/02/2015 16:12

I received an email from MNHQ

Hi all, sorry for the mass mail,

Thank you for all your reports about that poster - we've shown them the door now.

Best wishes,
MNHQ

VivaLeBeaver · 20/02/2015 16:21

I'm glad if he's been banned. I asked mnhq to have a word yesterday and thought if he stopped being such an idiot then let him stay. He obviously took no notice.

I agree btw that keeping both properties together will increase the saleability....some years ago I was looking for a house with a self contained annex. They're as rare as hens teeth and get snapped up for good prices.

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