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Asking price difference detectives please (North East area) - with links
38

HouseSearchingAgain · 22/09/2022 18:05

Name changed as the area of search and my circumstances might be outing.

My house sale has just fallen through due to issues in the chain further up. I’m moving 200 miles, and should have been moved for the new school year. I’m gutted. I desperately need to move. I need space for me and my 6 year old. To widen the search I’m trying to think outside the box and am including bungalows and a much wider area in my search. I need to line up as many viewings as I can for next weekend, so am trying to make a short list.

I have seen these two bungalows and can’t see why there is such a difference in the asking price. I know you are all brilliant at rightmove sleuthing. Can anyone help me see if I’ve missed something obvious that makes one a bargain or the other over-priced? I’m not familiar with this area at all so even though they seem close on a map, maybe it is a location thing.

The first is £220k and the second is £175k. The first is beautifully presented, but does that account for all of the difference? The kitchen/bathroom seem a good standard in both, so is this all about a lick of paint?

Thanks in advance.

www.rightmove.co.uk/properties/126776822#/?channel=RES_BUY

www.rightmove.co.uk/properties/126551375#/?channel=RES_BUY

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Peabody25 · 22/09/2022 18:08

No idea about area but could it be because the second one is leasehold so depends how many years are left?

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EddieHowesBlackandWhiteArmy · 22/09/2022 18:13

That would be my guess too.

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Doubleraspberry · 22/09/2022 18:20

It's also very hard to tell how big they both are, as the floor plans have no dimensions. The details for the cheaper one give room sizes at least, but the bigger one doesn't have that. So it's possible that the more expensive one is substantially bigger?

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HouseSearchingAgain · 22/09/2022 18:20

Interesting. I spoke to an estate agent about another one in this area and she said the leases when the houses in this area we’re built were about 900 years so loads of time left, and that the ground rent was minimal (double digit figure a year). She really stressed that she can only go on what they are told, need to do due diligence myself etc etc. I had therefore discounted that. But maybe there is more to it.

If she is right would that account for the difference still? This would not bother me.

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HouseSearchingAgain · 22/09/2022 18:23

Thank you. This is a good point. The kitchens look similar size in the pictures but you are right, and they both say two double bedrooms so I have assumed they are basically the same.

I guess viewing is the only way to find that out.

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tryingtocatchthewind · 22/09/2022 18:46

Do you know much about the area? The catchment secondary school for Wideopen is particularly poor, don’t be conned by the name change! Try Killingworth or longbenton if you want to be that side of Newcastle, similar prices but (slightly) better secondary school.

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tryingtocatchthewind · 22/09/2022 18:49

Other than that it looks like the grey one has pinched a bit of the bathroom to create a larger kitchen. And they are probably trying to ask more money because of the decor!

The leasehold thing will have some impact but there are quite a few estates around that area with long leases so it’s not uncommon.

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TheMildManneredMilitant · 22/09/2022 18:58

Yep the extra distance could make the difference between getting into the Gosforth schools or not, although that's just guessing. There's also a lot of new builds in Wideopen so the cheaper one is possibly on the edge of a building site although I don't know that this would affect the price that much.

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HouseSearchingAgain · 22/09/2022 19:01

Thanks for this. No I don’t know much about the area at all. The house I was buying was in Killingworth…

Due to family circumstances I’m expecting to move before secondary school so I haven’t really factored this in. My sister has been given a life limiting diagnosis and I want/need to be near her for the next couple of years for likely end of life care. I currently plan to move back “home” after that. We can’t move her now as the Freeman hospital is a centre of excellence for her condition.

If schools were not a consideration, is Wideopen otherwise ok?

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Doubleraspberry · 22/09/2022 19:02

I’m so sorry to hear that. Do you need to be in Newcastle itself as you could get more for your money in, say, South Shields?

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HouseSearchingAgain · 22/09/2022 19:02

And sorry I’m sure I am clicking on “reply” but it isn’t showing as a reply. Hopefully it vaguely makes sense what I am responding to!

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HouseSearchingAgain · 22/09/2022 19:08

Thank you. I think I need to be the same side of the river as my sister based on my understanding of traffic etc.

i have been searching Killingworth + 5 miles but any other suggested areas very welcome. Thank you.

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JaninaDuszejko · 22/09/2022 19:08

The total area in m^2 is always on the EPC which you should be able to find for each.

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HouseSearchingAgain · 22/09/2022 19:10

Oh I didn’t know this. Thank you!

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Sprig1 · 22/09/2022 19:13

Do you have to buy? Could you rent your house out and rent one near your sister?

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HouseSearchingAgain · 22/09/2022 19:18

The total area in m^2 is always on the EPC which you should be able to find for each.

The first (most expensive) is 52m2 but I can’t see it on the second house EPC.

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HouseSearchingAgain · 22/09/2022 19:22

Do you have to buy? Could you rent your house out and rent one near your sister?

I had tried to rent first time round and it just proved impossible to get one. Every estate agent at the time said the rental market options were scarce. It may have changed so it is worth looking at again as it was back in March. Thanks, I’ll look at this again.

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Doubleraspberry · 22/09/2022 19:33

I’d look at the coast, which falls into your five miles. I only know the schools in South Shields, and there are some decent ones in nice areas of the town, but you’d probably find similarly fine ones in Tynemouth (might be out of your price range) or North Shields. Cullercoats too although schools there are equally mysterious to me.

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MissPoldark · 22/09/2022 19:49

The tenure would not account for that much of a difference in price.
leasehold houses are really common in the north east as many houses were built on coal authority land. In case of any confusion this is not in any way comparable to new-build leasehold houses you hear about.

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Petronus · 22/09/2022 19:54

Think ahead to secondary. In a few years your life will be there and so will your sons. You may not want to return. What a lovely thing to do for your sister btw.

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tryingtocatchthewind · 22/09/2022 21:26

Wideopen is fine other than the school, I really don’t think you’ll get into the Gosforth schools at that end of Wideopen.
The coast will be a lot more expensive.
Killingworth plus 5 miles is a decent search area but yes check the North Tyneside catchment map for secondary. my.northtyneside.gov.uk/category/401/school-catchment-areas
I’d avoid North Gosforth Academy (used to be Seaton Burn) and Norham is not much better.
Moving is expensive and if your son is 6 then realistically are you going to move before the autumn of year 6. Time does fly.

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HouseSearchingAgain · 22/09/2022 21:53

I’d look at the coast, which falls into your five miles. I only know the schools in South Shields, and there are some decent ones in nice areas of the town, but you’d probably find similarly fine ones in Tynemouth (might be out of your price range) or North Shields. Cullercoats too although schools there are equally mysterious to me.

It is all mysterious to me, so I appreciate your input. My search hasn’t brought up North Shields as far as I can see, so I am going to look at that now. Thank you Doubleraspberry

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HouseSearchingAgain · 22/09/2022 21:55

The tenure would not account for that much of a difference in price. leasehold houses are really common in the north east as many houses were built on coal authority land. In case of any confusion this is not in any way comparable to new-build leasehold houses you hear about.

thank you MissPoldark, this is reassuring (even if it means it is not the answer to the price difference!)

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HouseSearchingAgain · 22/09/2022 21:58

Think ahead to secondary. In a few years your life will be there and so will your sons. You may not want to return. What a lovely thing to do for your sister btw.

thank you Petronus I needed to be told this, you are right. I am probably ignoring this as it is all just too difficult. But I can’t avoid it…

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HouseSearchingAgain · 22/09/2022 22:03

Thank you tryingtocatchthewind this is all hugely helpful, especially the catchment map.

Moving is expensive and if your son is 6 then realistically are you going to move before the autumn of year 6. Time does fly.

As with Petronus, you are right, and I needed this reality check.

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