House not selling

[dream75]

House has been on the market for a few months with no interest. Was going to reduce the price in line with similar house in the next road but that house has now reduced to a price we wouldn't consider selling ours for. Not sure whether to reduce or sit it out to see if the other house sells. EA states houses are not selling so we need to reduce but as we don't need to move I don't want to sell at very low price

I think it's probably very difficult to get your head around not selling at much more than you paid for a house eleven years ago - that's the OP's situation.

If it's not financially viable to move selling between £80-85k then why not stay put and do some work on the kitchen and bathroom instead? The Fisher Avenue house is a great example of how you could update yours and would probably cost around the same as moving costs if you can do some of the work yourselves.

Enjoy your improvements for a few years while reducing your mortgage then look at selling again. If you are able to overpay on the mortgage then do it because you can make real inroads on repaying the capital by doing that and you'll have more equity for a deposit on a new place.

Whilst price is a consideration, and I haven't seen photos of the house, I wouldn't automatically assume that price is the only reason it isn't selling.

When I was selling my house, I hadn't appreciated the difference that photos could make. The original agents took bog-standard photos (with the tenants' ugly furniture) and then sat back and waited. Not a lot happened.

So, I took it off the market, employed a house-stylist who "dressed" the house (it was empty at this point so she got furniture, furnishings, took beautiful pictures and made it look so much more desirable and stylish). I then invited several agents around, asked how they would market the property and what strategy they would use. I went with the most pro-active agent. The house then had more viewings and an offer (at almost asking price) a week later.

If you're hoping to move to the same area, remember that all the same things will affect the price of what you want to buy (ie you might get more for your money than you're imagining).

Good point tldr.

I just wouldn't want to give my hard earned cash to a useless agent who has done nothing beyond the initial listing. The photos could be improved - the kitchen and bathroom are the weak points and the living room needs an injection of warmth/personality.

I've just had a look at your other thread and I've got to agree with PPs, compared with the other one someone posted it really does seem overpriced.

I wouldn't spend any money on planters or paint, but I can't tell from your photos where I'd watch TV in that living room. I definitely think it's worth rearranging furniture and getting photos retaken. The (same shape/size) living room in your competing house looks really cosy, yours really doesn't (sorry!).

And I'd be thinking of sacking EA too - they should be telling you this, not us! (And if an EA can't tell that a living room photo that is mostly the side of your sofa isn't a great photo, he doesn't deserve a commission...)

There was a chat thread recently where we all helped someone rearrange her living room and she made it looks million times better without spending anything. You should try it!

Just had a look, I think you DO need to do some work to sell, hence the reason there is numerous programmes showing how to do that.

Kitchen needs painted magnolia. You can do that fairly cheaply. I didn't notice the floor. Livingroom is defo a bit muddled and could be rearranged. Also whys the fireplace blocked over but the surround still there? Strange is what people will think. Stick some bright flowers out the front and tidy back garden up a bit then get pics retaken.

We moved into our house and the decor etc was from the 60s, the bathroom was brown the kitchen was avocado. The reason we were happy to change it all was because the price was a steal. If I was moving to a house that was higher priced than others in the area by quite a bit it would need to be amazing inside and have nothing I wanted to change, so I do think you need to reduce the price inline with the going rate. Check zoopla.

tdlr I disagree about not spending money on paint, although I totally agree about rearranging the living furniture and getting new photos (and preferable a new EA!).

I think even painting the kitchen white (or a lighter colour) would help the look of it. It isn't going to look like the new kitchen on Fisher Ave, but it will make it look instantly more modern. OP , given the blue is such a strident colour, I would get some base coat to paint over it before you think about doing a top coat of a more neutral colour, otherwise it will coast you a fortune in expensive pigmented emulsion as you'll need several coats. Even solo/one coat paint won't cut the mustard over a dark blue

OP also wanted to add that I think your bedrooms are lovely, and the bathroom looks as if it is much better than the photo makes it look. Again the angle of the photo of the bathroom in this house makes it look much bigger when in fact it is the same size.

That's the competition round the corner Issy, which I've just noticed is chain free.

Agree issystark- photos don't do the bedrooms justice. I think the wallpaper in main bedroom is pretty and nice and bright.

I hope all this is helpful OP. The positive is that there is nothing horribly wrong with your house. A lick of paint and some flowers go a long way! Watch a couple of episodes of Selling Houses
As PP said if your house hasn't gone up in value then neither will other houses locally so it is all relative :)

Thanks everybody. I have rearranged the living room since my last thread so that settee is now where sideboard was and sideboard is now next to table. I will repaint the kitchen, then restyle the living room and front of house. Will then reduce price and post it with a new agent.

Good luck dream - fingers crossed for you.

Post photos of your living room!

And good luck!