1 Bed Flat which just wont sell!!

[danielleir]

Hi everyone.

Me and my boyfriend put our 1 bed flat on the market in September of last year to try and sell with the view of up grading to a 2/3 Bed house in the same area. By December it had lots of viewings but no offers so we took it off the market as we didn't think we'd be able to buy anywhere before the end of the stamp duty holiday and would need a few extra months to save the difference.

Then the stamp duty holiday was extended so we went back on the market in March with a different agent (still not expecting to complete before the end of the holiday but we have more saved now).

Its been over a month and we've only had one viewing this time round!! We've since reduced the asking price, took all new pictures to jazz up the listing. and nothing!

We don't have the option to go any lower on our asking price and don't have the option of letting the flat out instead of selling.

This is our first flat (we're 25) and have no idea what more we can do to get it moving as know the longer its on now the 'staler' it looks...

Is it just the market at the moment?
Any top tips for property newbys?
Or even just advice to not loose faith?

For context, we're in a village in St Albans and have lived here 2.5 yrs. Its a first floor flat with large private garden

There’s lots you can do to make it a bit more attractive (firing your current estate agent being the first), but you can’t change the fact that nobody wants a one bed flat right now.

I would think hard and decide whether to take it off the market for another year, or re-market it at the other side of £200k to get rid and move on. It’s a horrid situation to be in.

".... but you can’t change the fact that nobody wants a one bed flat right now."

There are several threads where people are having this problem - I'm just not seeing in in zone 4 and 5 North London (really not far from the OP). Is this generally the case across the country?

@helpmemakeit

Not being rude but it looks tatty.

Not being rude?! 😮

@MidnightMeltdown the garden does look tatty.

When you are selling a flat with a garden even if you aren't green fingered so don't have many plants and shrubs, you try to make the lawn look immaculate. This is because most flats don't have gardens so if you have one you use it as a selling point.

@helpmemakeit

Not being rude but it looks tatty.

Not being rude, but you're rude.

A garden is definitely a selling point for a flat, yes. Especially in my area, as few flats have private gardens.

However, my estate agent is in a real hurry to get my one-bedroom garden flat on the market. I wanted to delay having it photographed for a week, so I had time to do more work on the garden (the lawn is dreadful). But the estate agent is adamant that it’s best not to delay.

His argument is that as my flat is near the bottom end of the market, it wouldn’t be worth modernising it before sale, as I might not get my money back. Also, the buyer will want to put their own stamp on the property. I’ll have to see how it goes.

Apparently, my flat should attract interest from FTBs and investors (who are very price-sensitive, ouch!). OP, your flat is worth a lot more than mine, but do do you think your target market is similar? I suppose it depends on the demographics of your area and the other types of property available. My flat is worth significantly more than than the tiny studio flats in our town, but it’ll never be worth a huge amount due to the location (and the size and the type of construction).

Our EA told us that the market has been flooded with 1 bed flats - partly all the 'starter flat' folk were selling to take advantage of the SDLT holiday for their second home, and also people were looking for more space because of working from home - so 1-bed vendors were hit with a double whammy.

Your big garden is a massive selling point. Make it a bit lovelier, get the description changed to emphasise big private garden, get more lovely pics of bits of it.

In a month or so, as more buyers come on the market, people come back into offices to work, the market will go back to normal.

(Take down that pubic-hair shaped thing above your bed! - I'm sure it looks lovely in RL, when you can appreciate the craft work, bit it looks weird in pics)

It does look cluttered in the photos. You need to have a good clear out, especially in the bedroom and have a photo of bedroom, much more like your one in your previous details, which shows both wardrobes, but leaving the gap between wardrobes empty to show floor space.

Your bedroom isn’t a bad size according to the particulars, but looks absolutely tiny and squashed in the current photo.

You need new photos taken, but before you have them done, need to second decent time decluttering, making floor space, showing table, ensuring bedding and curtains in bedroom look lovely and making garden look tidy and attractive with some colour. This stuff will make people look at it and maybe come and visit.

I think you will also have to lower the price to get a sale.

So it’s about making it appealing first of all, and then a realistic price.

Remember, the fact you feel you can’t afford to lower the price, doesn’t mean anyone will pay that price if it’s above what the market will bear. It’s a shame if it’s worth the same or less than you paid, and what you can get won’t let you move o to the property you’d like, but it’s worth what it’s worth and not what you need or want.

Tinkering with curtains and bedspreads won’t shift it from overpriced to being attractively priced. The price must be right.

The blue circle makes the bedroom look small, so paint it over - and remove the dead sheep (or whatever it is). The back garden needs some TLC. And the 95 year lease is off-putting.

...

Have you thought about staying put but investing in a garden room to appeal to the wfh couples op?

I would try and photograph it on a sunny day with a couple of loungers out to drive home the fact it is private and huge!

Also, it is London Conley which people locally don't really include as St Albans (although it is I know). How does your price compare to flats in just London Conley?

Sorry ignore me, am being bone idle and have just looked to see yours is well priced.

What jumped out at me though is the front shot, there is no sign of the front door which I think is off putting.

I would take your own pics on a sunny day and send them to the estate agents.

Agree with pp - the old photos are so much nicer! Everything looks brighter, more spacious and more "loved" somehow (maybe it's also the visible plants in most of the rooms, plus the sunnier light?). I think you need new photos more like the old ones, plus add photos showing:

a) both aspects of the lounge (including setting out a visible dining area so people can imagine living in the space better).
b) separate office area - it looks like you have space in your hallway to put a small desk, so do this (or even a wide shelf across the end of the hall that could be used as such, with a chair pushed underneath).
c) close up of the decking at the end of the garden with a table and chairs set out and a few colourful plant pots so it looks well used/loved.

Also agree with pp to remove the knitted hanging in bedroom (it's distracting)- maybe put up a mirror or understated picture with a calming mix of blues/greens/greys instead; and highlight which is your garden on the overhead photo.

It's only been on a month. properties are taking approx 70 days to sell. Around 30% are selling straight away, so to get the 70 day average means a lot of places are taking longer. Don't be fooled into thinking ALL properties are selling straight away .

My house sold in 90 days, whereas my ndn sold within a week.

Doesn't seem to have parking.

Gardens both front and rear are very offputting.

You need two photos of each room showing more than just the one view.

You need to show where you eat.

You need to show where you can comfortably work from home.

It looks very nice, cosy and private.

The layout is pretty crap. With l/h permission you could remove the lounge wall with the landing and incorporate all that space into the living room. Put the kitchen in the living room then you have a more spacious feel and an additional bedroom.

Of course because you're selling you won't want to do that but a buyer would. Is it priced right, because to do the work would be around 30k plus paying for a lease extension . . . price is too high.

@Lineofconcepcion

The layout is pretty crap. With l/h permission you could remove the lounge wall with the landing and incorporate all that space into the living room. Put the kitchen in the living room then you have a more spacious feel and an additional bedroom.

Of course because you're selling you won't want to do that but a buyer would. Is it priced right, because to do the work would be around 30k plus paying for a lease extension . . . price is too high.

You’ve just identified a lot of non-essential work that you personally would want to do but many others wouldn’t! The price may not be right (doesn’t seem hugely off for the local market but may need a reduction to sell) but it’s not because of this.

Many people hate kitchens in small living rooms, which this is, and it’s really not a big enough flat for two bedrooms. There’s a limit on how many people could comfortably live in it. That’s my opinion so I’m not looking at the listing and seeing 30k of work.

Unfortunately it will be the price. Everything sells for the right price.

I lost £20k on our last move which is gutting so I understand you would not want to drop the price.

Shocking photos by the agent. Did they actually take them?

Sort garden out. Cut back bushes and over hanging trees. Consider garden room if you can afford it. Front garden tidy up and improve kerb appeal.

Landing desk and chair and shelving.

Bedroom Remove unit between wardrobes. Tv on wall if you want. Paint that circle.

Lounge - show that dining area. Better photos and declutter.

Kitchen stuff off sides.

Have you enquired about lease extension?

Price will be the key thing.

As I mentioned before, the right price is the one people will pay...not the price you need in order to move up to the next rung if the ladder unfortunately.

You can make a few tweaks, but bottom line is likely to be that you either decide you don’t want to lower price and therefore don’t sell, or you lower price and find it goes.

This is often the way and some people take longer than others to accept this fact of house selling.

Selling flats is hard at the moment so making things attractive and removing all potential little ‘barriers’ which might stop people looking or offering is important, but those things can never fully counter the barrier of being over-priced.

The beddroom looks tiny and very cramped. Could you turn the bed round so the headboard is under the window and move the wardrobe to the wall opposite the window?
In the lounge, get rid of the chair and find a small table that extends when needed. Most people want to eat at a table- you could use that as a workstation too if neccessary.
The garden needs the lawn cut, rake away the dead leaves and straighten the brder edges so they look sharper. Probably cut back alot of the ivy on the archway too.

I grew up just round the corner from here! I would buy it! But I live far away now!

Agree the older photographs are better. And I don’t like the wall-hanging either. It’s a lovely little flat though.