Is this house overpriced?

[jwilf]

So we've looked at 2 houses in the same street, just a few doors from each other. One is a terrace and has been fully renovated with the kitchen knocked through to the dining room, and a loft conversion. The other is essentially the same design but it's a semi and has a bigger garden. But it needs total renovation. Both are on for £860k.

Terrace - www.rightmove.co.uk/properties/100978412#/

Semi - www.rightmove.co.uk/properties/80004825#/

So, is the semi overpriced considering the other one is fully done up? Or does the fact that it's a semi really make that much difference to the price?

One other factor is the railway line behind the street. There is a station and the trains stop right there at the end of the garden of the terraced house. There's a high trellis at the end but it still feels a bit overlooked by the trains and the platform. From the garden of the semi, you can still hear the trains but it's not directly in the line of sight from the platform. The trains are only every half an hour.

Garden backing into a railway track is a deal breaker. Gets very noisy and train passengers love peeping into your garden. So noise and lack of privacy.
These are the type of houses which people are able to pass off in this market frenzy. If you buy at this price now, you will struggle to offload it in future without a big discount.

True waffles, still bloody glad to be in the NW.. we are waiting it out as the prices houses are going for at the minute is silly.. but I'm talking £230k for a 3 bed detached house that should be £180k 🤣😲

Yes, they are both overpriced.

What's your criteria for your house? I don't know the area so could be way off but on the map view, this 4 bed is on for £765?

www.rightmove.co.uk/properties/77523972#/floorplan?activePlan=1

The terrace has four beds and the semi has three, unless the details are wrong?

They are both very very small for a family home. Look at the sqft of both. Not family home size.

The semi has a much nicer feel despite needing work, less overlooked.

Stopping Trains might only be very half hour but are there others going through? And freight trains at night? Wouldn’t the announcements drive you mad?

@awmum42 for London those are decent sizes. We are all squashed in like sardines down here 🤣

The one near cannon hill common looks great!

@Awmum42 what are you on about? The average UK home is 991 sq ft according to Zoopla. These are both significantly larger than that.

@Bluntness100

That’s really odd. Am I reading it wrong, the terrace has more sq foot than the semi?

I noticed that also. The semi looked bigger.

I prefer the look of the semi.

The terraced is overpriced. This house the other side of the railway is a lot cheaper.

house

@Bluntness and @Standrewsschool, the sq footage discrepancy is because the terrace has gone up into the loft, so they’ve gained extra there. If you converted the loft in the semi it’d be bigger overall.

@BoomChicka

How the hell does anyone save nearly 90k for a deposit???

I could buy a terraced house in Greater Manchester with the deposit needed for that terraced house 😆

We are marketing mother-in-laws house at 90k - terraced but not much different from the semi. (in terms of size and work needed)

I have no idea of London prices and how they compare (see above), however I am guessing that the terraced is about the max price it could sell for, whilst the semi could potentially demand more in top condition. I lived in a house that backed onto a railway line - the house used to shake, though that was more when the massive goods trains went past. What type of line is it?

I much prefer the semi when comparing the two, I hate terraces.

The terrace has had pretty much all it can have done to it in terms of extending, whereas the semi has much more potential, and doesn't actually need much doing to it. I'd probably live there while doing the place up!

I'm sure you'd get a good reduction from asking on either; the terrace because it's been on for so long in this market (how?!?), and the semi because it does need a bit of work.

@BoomChicka
Agree, the prices are ridiculous.
Near to me;
Easy commute to Edinburgh;lots for your ££
Newlands, Kirknewton, Midlothian, EH27
www.rightmove.co.uk/property/90721858
or in Edinburgh itself
44a Minto Street, Orchard House, Newington, Edinburgh, EH9 2BR
www.rightmove.co.uk/property/106908560

The semi is a much more impressive looking house from the kerb and also has the advantage of direct access to the back that is not via the house.

I wouldn’t want to pay a premium for someone else’s renovation unless it was to my taste and needs.

The semi is hardly unliveable.

[quote BalladOfBarryAndFreda]**@Bluntness* and @Standrewsschool*, the sq footage discrepancy is because the terrace has gone up into the loft, so they’ve gained extra there. If you converted the loft in the semi it’d be bigger overall.[/quote]
Ah that makes sense. I think I’d go for the semi and try to knock down the price a bit.

To those saying that London is overpriced, Cambridge is just as bad.

Here are some terraced properties in Cambridge that are smaller than both of those an all for a similar price.

And in Cambridge there isn't even the excuse of higher London salaries:-

Grantchester Street, Cambridge £895,000

Kimberley Road, Cambridge £850,000

Gwydir Street, Cambridge £839,000

and then terraced houses that are the same size as that London terrace and done up nicely are upwards of a million:-

Rathmore Road, Cambridge £1,100,000

I dont know about overpriced, because I live an hour outside of london and houses here are probably half that or less, but I prefer the semi in many ways, as I dont think it needs any major renovation, just decorating and cosmetic work and new kitchen, but nothing urgent to me. The semi is 3 bedrooms though whereas the terrace has an extra small bedroom/office, so thats quite valuable. I prefer the bigger garden of the semi

I think the semi does need some major work. I know it's not essential but I would want to knock through the kitchen into the dining room like they have in the terrace. It also needs a new bathroom, I would remove the wall between the bathroom and the separate toilet, to create a bigger bathroom with a bath and shower cubicle.

I also noticed that all the power socket are in the skirting boards in the semi. This is a good indication that a total rewiring is required.

Both houses have the small bedroom/office, but the terrace also has a loft conversion with en-suite.

£860k

I always wonder, if Londoner's realise how much more they would get for their money if the moved away from London?

Those 2 houses where I live, would be under £200k. And I'm in a gorgeous town near Edinburgh, will full access to any amenities you could possibly ask for.

Really? You get more for your money outside of London. Who’d have thought it. Some of us have to be close to London for work. We wouldn’t be living here otherwise

@Bluedeblue

£860k

I always wonder, if Londoner's realise how much more they would get for their money if the moved away from London?

Those 2 houses where I live, would be under £200k. And I'm in a gorgeous town near Edinburgh, will full access to any amenities you could possibly ask for.

Of course they realise. But people don’t choose where to live just based on cheap housing - just as there are things which keep you in your nice town close to Edinburgh rather than moving to somewhere else where the type of house you have might only cost £100k rather than £200k.

Bluedeblue of course people realise it, and they know if house prices go up 10% that’s 85k not 20k.

@Boohooyouho

Really? You get more for your money outside of London. Who’d have thought it. Some of us have to be close to London for work. We wouldn’t be living here otherwise

What? Really? I never knew you could get a cheaper property outside of London! Fuck me! You've opened my eyes. I shall immediately sell my house, quit my job, move away from family and friends and move to an area where I know no one and have no connections to and no work.... sounds wicked. Sign me up. Can't wait to leave my highly specialised and enjoyable London-only finance role and do do some kind of mundane accounting role for 1/4 the pay. Oh, and enjoy the colder weather too with worse international connections.

What a silly comment