House selling with lots of competition on the same road

[InescapableDeath]

Anyone been through this?

We sold our house a couple of months ago and finally found a house we wanted to buy, only for our buyer to pull out due to Covid. We are desperate to sell quickly to get back in our chain.

We've gone back on the market. Only problem is that our neighbour is for sale too, and two other houses up the road. We're all roughly the same price.

Ours probably needs the most work but is the only one with a garage and we have the biggest plot of land. Our neighbour is mid-terrace but have done their house up beautifully. We are end-terrace which I would think is a plus, but a close look tells you our kitchen and boiler need pulling out at minimum... However we have a bath and they only have a shower. All our rooms are slightly bigger.

Price reflects all of this I think, as we are all the same price. So you can get my slightly duff house with more space for the same price as a smaller one that's lovely.

It all depends on the buyer, I know! Do they want a house with the potential to add value (mine!) or one that is lovely but already at its max price (everyone else's)?

A viewer is coming to see three houses on our road today. I'm dreading it. We have kids and the neighbours don't, so the house is not impeccably clean, but then it's very visibly a family home!

I agree with others. More space. One neighbour and a garage. No brainier I would go for yours.
Other people’s decor rarely matches another persons choices. I would prefer somewhere that is liveable but also I felt I could redecorate/replace things because they needed it rather than just because I don’t like them. (Seems more ethical).

Just because its fresh decor doesn't mean some one else will like it, I would go for space every time

@emilybrontescorsett

I think it's personal choice what people want and you can't influence that. Sometimes buyers prefer a specific spot. So for example like the one that is closest to the junction. Or the one nearest to the shop at the end of the road. I'm not sure if a garage adds that much value as lots of people don't use them.

I have no idea who you know who has a garage and doesn't use it!?!

Garden stuff/barbecue/sports equipment/outdoor games/camping stuff/tools/bikes/washing machine/dryer/garden furniture/paint/DIY stuff.

These are just some of the things I have in my garden. I couldn't function without it!

I would always go for space over decor.
I have my own taste and would always want to re-decorate a house when I move, my furniture wouldn't suit everywhere.

The only way I would pay more for a house with less space is if it had a lovely garden as they take time to cultivate and mature.

I would also think yours would be a similar price to the others, however in your position I would be taking a really honest look around your house and doing as much as possible to smarten it up inexpensively over lockdown, I.e. cleaning, de cluttering, updating cushions rugs etc, painting and making the garden look good. However much yours looks like a good deal on paper people still need to like/ love it to offer. You ideally want the pictures to look great (so the max no of people will view) and then everything to be at least livable to get the best price- if people think they would need to rip out the kitchen in the first few weeks they won’t pay asking price. If you’ve got the courage you could post a link for some suggestions!

I think you’ll be fine, OP! We would always go for a house like yours (more bang for your buck and needs a bit of updating anyway) as we love a specific style and can guarantee we’d hate the new fancy kitchen which we’d end up ripping out (really wasteful)! My sister, on the other hand, would go for the Hinch house but there’s thousands of people who want to put their own stamp on the house instead of moving into a ready-made show home. All your extras sound accordingly priced so good luck!

We are buying just now and chose a larger house over a perfectly decorated one.

I'd go for yours over your neighbours', OP. Your house provides loads of things you just can't change, like end of terrace, bigger plot. We have never bought a done house and don't think we ever will - we like putting our own stamp to the design. You may find that some people might not like your neighbours house as its not quite right for them but see your for sale sign and come and view it - in a way it could be good, depending on the viewers and what they want. Sit tight on the price if you're having viewings booked. Good luck!

I would go for your house, as bigger footprint and potential to extend are huge draws for me. However, we are selling our house at the moment and have been surprised at the amount of people who want a fully ‘done’ house, newly decorated, etc. It will depend on the buyers coming through the door, their budget, and what they are looking for. Make sure your agent is pointing out to viewers that your house has the bigger square footage and potential to extend.

We are terraced and went on the market within 2 days of the house opposite, a house 2 doors up and 2 more houses slightly further down the road. 4 of us were all on with the same estate agent! If a potential buyer phoned interested in one then they would be take round all 4. Which was great to get the viewings but tiresome if they weren't actually interested in your property in the first place! In the first week we had 14 viewings and sold within 6 days. The others all sold a week later. So although it may feel like competition it can also attract more people to view your house. Good luck OP

I can't post pics as I've said terrible things about my neighbours on other threads! (resolved now...)

The no-news update is that we didn't sell at the weekend - no one on my road did. Two lots of feedback from four viewings, one liked the house but 'didn't feel it'. One liked the space but didn't want to buy a house that needed work.

We've overheard our neighbour telling a gardener that all her feedback is absolutely wonderful - doesn't matter if it doesn't turn into sales though right? We'd actually be very pleased if they sold, but we both have to find slightly different buyers with the same budget!

We had another viewing today that apparently went well, and another tomorrow.

We'll see - could be a long game. But if we sell soon we might be able to buy a house we absolutely love that's come back on the market. Currently tidying up and crossing everything.

Don't drop your price yet. If your house is on a bigger plot, that is really valuable. And the neighbours' immaculate house may not be to anyone's taste. We are house hunting now and I despair of the high-spec everything-is-grey stuff that attracts a premium price tag. I'd want to rip it out immediately, it's so lifeless and depressing.

FWIW, when we sold our last house, it was the leats done up of three for sale on the street but sold far quicker and for asking price because it had better daylight and a few original features.

Thanks Dolphinpose!

The one thing selling taught us, back when we were looking at houses, is that there is a lot to value in the house. Our third bedroom is much bigger than the box rooms on the roads where the semi detached are £500k, for example. It’s not perfect but a good opportunity for someone to add value if they want to.

I live on a road where very little comes up for sale - the minute I put mine up for sale, the one over the road went up too .
One round the corner sold in days just as (the first) lockdown was kicking in. We've been on now for about 14wks and accepted an offer a couple of weeks ago.

We are similar to you, OP, in that it's the biggest plot on the street by far (semi-detached). Yet no one seems to really see that. We're also the only one with an extension - again, it's as if everyone wants that, but doesn't want to pay the extra price for it.
We've ended up selling for £3k more than the one round the corner which is a full renovation project. Around £10k under what it is valued at. To say I'm pissed off is an understatement as it's a low price-band anyway.

Well today we had one single viewer. They spent five mins in next door, and less than ten in ours. We had an offer an hour later!

It's less than before, but we have accepted it. They liked that we had more space and had done loads of research on the area.

Just waiting to see if we're too late on a house we fell in love with now - they already had one offer and had given me until yesterday to respond. I responded today... :-/

*they had done loads of research on the area

Fingers crossed for you that you get the house you want now, InescapableDeath

Congratulations on the offer. I think your house sounds better & seems your buyers agree : )

I wouldn't consider terraced due to having neighbour's joined both sides and for that reason plus the garage and larger plot your's would trump the neighbour imo

A house can be decorated and modernised. Their house will always be mid terraced, have a smaller plot and I doubt there's room to build a garage