Time to drop the price?

[iswhois]

House on market a bit over 6 weeks

First month had 5 viewings but no one interested for various reasons (nothing I can reasonably fix)

Radio silence for the past 2 weeks. It's time to drop the price isn't it? DH is adamant we don't but I'm painfully aware that the longer it stays up the less likely it will be we will get that price.

[iswhois]

Thanks all

I've asked for the link to be taken down now as I think I've gotten all of the advice I need we will be dropping the price probably next week

[DeadHouseBounce]

Why not just drop the price?

[Nyclair]

Definitely a price issue and you need to declutter and stage the house more appropriately.

[Upstartcrones]

Also agree, the video tour is a complete waste of time so needs to be looked at again by your agents

[perfumeistooexpensive]

It’s almost identical to my DS’s house in the same town. It’s quite close on the other side of the river. The difference is that there’s a corridor to the bathroom making bedroom 2 smaller, but much more user friendly. He wouldn’t expect to get much over £250,000 for his. He has a grassed back garden and on road parking, but a quiet road. Your road in not considered quiet as it’s a busy main route. You have to walk further than him for the town. Your decor really suits the house. It’s very tasteful and in keeping with this style of house. I would say that unless you put in a corridor to the bathroom, you are going to have to ask a lot less for it.

[Upstartcrones]

In terms of the money you've spent it seems like it is mostly cosmetic improvements as opposed to structural which most buyers will not see as a justification to raise the price 40k. The market also isn't supporting such a rise so it really is down to the price.

Why are you so deperate you move? The reason I ask is would it be possible to stay in it for the next 2-3 years and ride out the current economic storm?

It's horrible selling houses at the best of times but this climate is definitely going to be harder.

Bottom line is drop the price (you may have to go below what you paid to get it shifted) or wait out and see if market improves

Good luck

[Bluntness100]

Out of curiosity why are you selling? I’m guessing it’s a forced move Ie work or relocation or family? No one would not do this voluntarily now.

So would you consider renting it out? And moving into rented yourselves? And sitting on it a few years ? It may be your best option financially.

[Bluntness100]

Actually a pp raises a good point. Which is when someone gets a mortgage the mortgage company has it valued. As such if it’s lower than what it sold for, the deal is going to fall through,

So even if you got someone to offer what you both want op. It’s highly unlikely a mortgage company will value it at say 260/270. They are probably going to be closer to the 230 or 240.

It’s a really important consideration. Because you’re not just limiting your pool of buyers to someone who loves it so much they are willing to over pay significantly you’re basically also looking for a cash buyer who won’t care about the valuation or wish one. That’s a really tough ask.

[Ariela]

I would give the front a little more kerb appeal - get that hedge to your left trimmed back and trimmed down level in height - will make the front room lighter too.
I'd pop a trough (or is that one there already?) below the window planted with flowers, some pansies now will do for winter. to give a bit of colour. and de-weed that gravel to the left, make it look cared for.
If the new picture can show just how far from the road it actually is, then so much the better.

I agree with the comments about the built in wardrobe & lack of bed in the 2nd bedroom. If you could remove half and pop a small bed/fake bed there, and a roller blind to cover the remainder, then there would be a lot of floor space making the room look bigger overall.

[Inks42]

I agree with other posters that it is the price.

However, a couple of simple things that would help in any case:

There are no dimensions showed in the floor plan. I know it's in the full details, but when I imagine my stuff in a house I open the floor plan in one window and the photos in another to work out what works.

The video tour is cringe. It's not an actual video tour, just the estate agent talking through what I've just seen myself. I hate these kind of videos as they don't add anything and only read as marketing the estate agent. An actual video tour showing what I can't see through the photos, and giving a bit more special awareness would be much better.

I also agree on staging for sale, not living your life, and picture of cellar and parking space.

Dimensions of garden would be good too. No one ever does this in rightmove, but as someone currently looking I would love to know this.

[Didiusfalco]

I just wanted to commiserate OP. We have been in a similar situation, bought house, spent money, sold three years later for a few thousand more than we paid. It was painful, and the deal only just held together, but by the end I was just glad to be shot of it. However it was worth taking the hit to move on and once I was out, I got on with life and barely gave it a second thought.

[Dablikeacrap]

OP when I eventually buy a house please come and decorate it, I love your taste!

I’d love to see the cellar as I’d envisage whether I could do it properly or not.

[Kipperandarthur]

Another quick look on right move in your area also shows there are many many 2 bed terrace houses in the price range from 225 to 250k. Many of which have a bigger footprint without the bathroom issue. You are up against all of these I’m afraid. It really is the price and however much it pains you it needs a significant price reduction to sell. Your competition is very strong and in abundance of supply. Has your DH done the comparisons? Everyone on here who has replied is only trying to help you and can see things with fresh eyes without the emotion that you have being the owner and would be seller.
There are similar threads in other areas of London regarding 2 bed flats with no garden space and an abundance of over supply for the market.
If you really want to move you’ve got to place yourself as the best on the market at a much lower price which seems to me circa the price you paid for it 3 years ago when you overpaid at the top of the market.

[RollercoasterRaver]

^^ just to add to my above post. A massive declutter wouldn't go amiss. The red fluffy thing with the lamp would be my number one hehe. Get rid of things on the walls too as it makes it appear smaller. The best of luck and keep us updated!

[RollercoasterRaver]

It's the price 100% I'm afraid. We have a friend who recently bought a similar property in Maidstone for £20k less and it had more floor space and equally well presented (by the way I LOVE your decor!).

This one for example was on for £240k...

www.rightmove.co.uk/property-for-sale/property-70671603.html

And this one the same.....

www.rightmove.co.uk/property-for-sale/property-66560754.html

[ODFOx]

The details don't mention refurbishment. It's obviously been beautifully decorated but if you have rewired , new heating, new kitchen and bathroom in the last couple of years I'd emphasise that, as it may offset the perceived price hike since purchase/ compared to others in the row.

[ODFOx]

Don't bother restaging or decluttering. It is a very attractive house exactly as it is, and would suit a couple perfectly.
It's the price.

[xxyzz]

Given you can get a 3-bed for 25K less than this, I can't see why anyone would choose this.

It's irrelevant what you paid for it or how much you chose to spend on redecorating to your taste. The buyer will have no interest in that.

Again, I do find it annoying people assuming that they have a right to have their house worth more after living there for several years. As all adverts make clear, house prices are not guaranteed to go up. Plus you have saved 3 years' worth of rent and been paying down the mortgage in that time too. So you haven't lost whatever you spent. But you don't have a right to get the whole amount off a buyer, plus some extra profit.

So if you've got it on the market for fun, keep the price where it is.

If you actually want to sell the house, it needs to be priced at no more than and probably less than the previous ceiling price for the street.

[CtrlU]

Dropping the price*

[CtrlU]

Lovely house but too expensive in my opinion

I bought my 3 Double bedroom house (with garden) in London for 60k cheaper than yours 5 years ago. I know it may seem a while ago but you get the idea.

Try drilling the price a little and see how it goes x

[xxyzz]

Why is on for 45K i.e. about 20% more than similar houses in your street reached at peak?

That is clearly hugely overpriced. It looks like around 200K is the sort of price it will sell for.

As a would-be buyer, I get fed up with people putting their homes on the market at prices that are way above previous highs, given that that figure is probably too high in the face of likely pandemic and Brexit hits to the economy.

It is just wasting your time, the estate agents' time, the potential buyers' time. If you're not interested in selling it for a realistic price, don't put it on the market. Look at it from the buyers' point of view - no buyer needing a mortgage could get one if it was that overpriced.

It is a lovely house, by the way, and the decor is nice.

But you need to drop the price if you actually want anyone to buy it!

[Jadeeeeee]

Very well finished interior. But a small garden and bathroom off a bedroom does limit the appeal. Need to drop the price in my opinion.

[Pipandmum]

Declutter and try and do something about that room with the clothes - you could get cheap door fronts from IKEA. You've taken away the second bedroom by not dressing it as one.
The layout is awkward but looks like they are all that way.
But your price is far above than recent sales (l do realise the one sold at just over £200k was discounted) - how do you justify an almost 20% hike? Lower your price to £239,950.

[BentBastard]

I think not having a bed in the second bedroom is stopping people getting a feel for how easily it could be used as a bedroom,m and whether it can even fit a bed.

I know people mock it and say boys a lack of imagination but I have not spatial awareness and would really struggle to look at it and understand what would fit if the relevant furniture wasn't already in there.

I know measurements are given, but again, I can't translate that in my head to visualising the size of the space.

[missbunnyrabbit]

Just came to say that I love your house.