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Property/DIY

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Original poster

Property not selling, feeling discouraged

70 replies

WishMeLuck2020 · 11/09/2020 15:44

Hi, we have been trying to sell our property for just coming up to one year now, with no offers and barely any viewings. The house is definitely not overpriced, has a garden and garage, is neat and tidy (as are all the houses on the street!) does not need any work doing to it and is neutrally decorated. But the area itself is not the best, to put it mildly. The first estate agent essentially told us our best hope was to get a buyer who doesn’t know the area who would use it to commute (we live close to a big city).

We took the house off the market but have decided to give another estate agent a try. It’s gone live today, so everything crossed. Has anyone else been in this position, and if so what advice if any do you have? I am pleased for those who have managed to sell quickly, I just wish I could say the same for my house!

OP posts:

keepingbees · 11/09/2020 19:57

That should help weed out the ones who view it believing it's bigger than it is. If you've got space to extend, potential to make the garage into an extra room or potential to knock any walls down to open up rooms then make sure the agent points this out. Sometimes people can't see past these things. If people can make the house larger in any way or future proof it then that might help.

JoJoSM2 · 11/09/2020 20:02

If people find the house smaller than other properties in their price bracket, then it boils down to the price. It’s smaller so it should be cheaper.

Original poster

WishMeLuck2020 · 11/09/2020 20:12

It’s bigger, we have added an extra bedroom and garage. The garden is also slightly bigger than others on the street. We have the possibility of adding a conservatory/summer room to the back which may work in our favour. We shall see what tomorrow brings and what the viewers tomorrow say.
Thank you everyone for your advice. If tomorrow does not go well, we will look at reducing the price as low as we can stretch to.

OP posts:

kittenpeak · 11/09/2020 20:18

I'm so sorry. It's so stressful. Could it be the house doesn't match the demographic of the area? If it's got a big garden and an extra bedroom compared to other properties it might put people off. For example I viewed a 4 bedroom house yesterday which is on a street full of converted flats and 2 bedroom houses. We were the only "family" house on the road. Which is why we didn't offer.

NotABeliever · 11/09/2020 20:20

Is staying put an option OP? If nothing is selling in your area it must be because your area has got worse and the houses are priced too high compared to 10/15/20 years ago. In non-prime locations, depreciation is a distinct possibility.
Can you just hold off for now and hope that at some point in the future your area will be more in demand?

tigerbear · 11/09/2020 20:35

Agree with the previous poster, unless you absolutely have to sell, perhaps stay put.

tigerbear · 11/09/2020 20:37

OP - could you add a studio/summerhouse in the garden? Much cheaper than a conservatory, and very appealing to people atm, re work from home space.

tigerbear · 11/09/2020 20:40

I know I’m prob going to have to accept a much lower price than I anticipated for my house, therefore I’m now looking at 2 bed houses instead of 3, where we could add a summer house/studio with lighting and heating as a ‘guest room’ for when people stay. So it’s great that your garden is bigger than others on your street, so you could accommodate that option.

Original poster

WishMeLuck2020 · 11/09/2020 21:10

The reason I am so desperate to move is because I hate the area. The street itself is fine, the surrounding area is not good, lots of boarded up houses, problems with drugs, low level crime, burglaries, which is why the initial estate agent told us to pray we got a buyer who doesn’t know the area. Which obviously puts people off buying, and it wasn’t this bad 20 years ago. Living here really does make me feel fed up and down, if we go anywhere on holiday or a weekend away, I dread coming back. It doesn’t feel like my ‘home’ where I can relax. But I don’t blame anyone for not wanting to buy it either. It’s either stay here and put up, or accept a huge loss on the house, which we really, really cannot afford to do. I am usually not at home when viewers come looking, so I’m not giving off any negative vibes either! Just one of those things unfortunately.

OP posts:

NotABeliever · 11/09/2020 22:23

OP if that's the case don't spend money in a garden house or conservatory. You probably won't recoup it.

AutumnLeavesStart · 11/09/2020 22:37

Absolutely don’t add a conservatory. In 20 years you must have paid off most of the mortgage? Are you sure you can’t afford to reduce the price? It is definitely the price which is the problem. You could look at auctioning it, but you would have to accept a lower price.

Africa2go · 11/09/2020 22:55

I agree, don't spend money on it, you're unlikely to get it back. If you hate the area so much then you need to consider which is the lesser of the two evils - taking the financial hit or the emotional one of being unhappy & unable to relax.

Giraffey1 · 11/09/2020 23:11

I think this is happening a lot right now, judging by the number of sale boards that have been up in my area for many months. May own bourse has been on the market for 12 months. The whole area saw a market slump last autumn with Brexit, the election and economic doom and gloom. Then as we came out of winter we were his with COVID.
We have dropped the price, had quite a few viewings but no offers. General feedback is good but they want stuff we can’t make happen eg more garden, flat plot ( we live in a a hilly area). It’s very disheartening... but we have another viewing next week!

flirtygirl · 12/09/2020 00:23

Can you rent it out and still get another mortgage based on your income to move and buy in another area?

NachoNachoMan · 12/09/2020 07:57

Fingers crossed for today's viewing!

Is your house the kind of house a first time buyer might want? If so, someone from the local area might buy it wanting to remain local to family & friends.

Have you been looking at houses to move to? It might be worth taking a bit of a bigger hit, just so you can get out of there, even if it's sold for less than you paid for, presumably you must have a decent amount of capital after 20 years?

Would you ever consider selling to one of those 'we buy any house' people? It could be worth getting some valuations from them to give you some options.

Rainbowshine · 12/09/2020 12:53

Don’t add a conservatory, I think they look dated and you’ll not recoup the money you’ll spend on it. Better to look at a cheap way of creating a garden office/summer house if there’s room.

JoJoSM2 · 12/09/2020 12:58

If the area has boarded up houses and drug problems, I think I’d happily take a hit on the price to move somewhere nicer. Just a case of working out the minimum you need to get to buy an acceptable house elsewhere.

Original poster

WishMeLuck2020 · 12/09/2020 13:28

The money/mortgage situation is complicated, even though we have been here 20 years, it’s not that straightforward sadly.

The viewing we were supposed to have today didn’t turn up, no explanation as to why. On the flip side, the house is spotless!!
I think we are going to seriously look at renting it out.

To the PP who asked about selling it to a ‘we buy any house’ type company, I would have done that months ago but DH won’t entertain the idea. I think he is still holding out hope a buyer is going to magically appear from nowhere at the price we are currently asking for.

It is time to have a serious discussion about where we go from here. Thanks again, everyone.

OP posts:

snowspider · 12/09/2020 14:57

Good Luck with whatever you decide to do next, hope it works out for you.

Original poster

WishMeLuck2020 · 12/09/2020 15:56

@snowspider thank you. It’s clear to me now that the house will not sell at the price it’s on for. I just need to make DH see that, regardless of what we paid for it and the fact we have extended it, that means nothing if no one even wants to come and view at a time when the market is supposedly going crazy. Plan B it is!

OP posts:

Jujuball · 12/09/2020 15:58

You poor thing OP, it's gutting when you prepare for a viewing and they're rude enough to not even turn up. You have my deepest sympathies!!

JoanJosephJim · 12/09/2020 16:42

Stop thinking about what you paid for it and work out what you can afford when you drop the price.

See it as a means to an end, drop the price, get a buyer and move out.

Bluntness100 · 12/09/2020 17:37

Sadly if the area has deteriorated that much it’s either

Stay put
Sell and take a loss
Rent it and you rent elsewhere (or buy if you can get the mortgage).

There isn’t really any other options, it’s been a year. Time to make some serious decisions.

Africa2go · 12/09/2020 18:00

That's so rude about the viewing today. Really poor.

Just one thing to consider for people suggesting you rent it out. If the area is on a downwards slide in terms of value, it doesn't make sense to keep it on and rent it out. You're likely to just lose even more money on it.

Original poster

WishMeLuck2020 · 12/09/2020 19:47

Yes, I know what I think we need to do, DH doesn’t agree. He knows I am unhappy here but he doesn’t spend as much time at home due to working long hours and working away a lot, and would be happy to stay put. Either way, one of us isn’t going to be happy whatever we decide to do. It’s not an ideal situation.

OP posts:

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