Surveyor doesn't think the property i was going to buy is good value

[Sofia109]

Do surveyors often pick apart a house you're planning to buy or are they overly cautious? There were no structural issues, just some snagging, but due to the small plot of land with a very small garden, he thinks the 3 bed detached will be hard to sell. Its a good size inside, but usually families would want a good size garden and this one is really the size of a balcony and with a very small third bedroom. It sat empty for quite a while before i purchased it and the seller had a family member living there for a while too.

I know its not my forever home, and I'd probably be looking to move on in 5 years or less if i meet someone, but im concerned now i might have trouble selling it and there's also a real risk developers may build another house in the space right next to it, extremely close like this one is the the neighbours next door. (roofs are only around a foot apart!!)

Literally have no idea what to do now!

[Samara26]

I should probably also mention the house is only 2 years old, it's been sold by a developer

[SeaRabbit]

So you pay £250 a month less: over a year that's £3,000 a year. If you sell in 5 years and have to accept £100,000 less than you've paid as no one else wants it, you've saved £15,000 interest but it's cost you £100,000 lost capital. Cost £85,000 overall...

[Quitelikeacatslife]

The mortgage issue, your 2.19% deal will only last so long. You'll soon be paying a higher rate anyway as things stand long term .
It's advice that's all. Who knows what every future buyer will think when you may want to sell.
If you like it, want to live there and can afford it then crack on . If this advice worries you then pull out

[Samara26]

I don't have to sell in 5 years, I could rent it out for a while if needed. There's no timeline on it, I just know it's not my forever home.
I've seen flats go in this area for more than 300k so I doubt I'd lose that kind of value on it. It's still a 1200 square foot property that's immaculate inside.

[Cyw2018]

Look at it for what it really is, then compare it to more equivalent local properties than a 3 bed detached

So from how you've described it, it is a spacious 2 bed semi with an office and good sound insulation (a small gap) and could potentially end up being a spacious 2 bed terrace with good sound insulation. Ideal starter home, better than most.

Concrete yard can be dealt with relatively easily. Smash the concrete around the edges build some raise beds, lay some nice pavers. Plant it densely (big plants in small place). Put some garden furniture in. This would improve resale chances.

If it is the right price, and right for you, go for it.

[Samara26]

@Cyw2018

Look at it for what it really is, then compare it to more equivalent local properties than a 3 bed detached

So from how you've described it, it is a spacious 2 bed semi with an office and good sound insulation (a small gap) and could potentially end up being a spacious 2 bed terrace with good sound insulation. Ideal starter home, better than most.

Concrete yard can be dealt with relatively easily. Smash the concrete around the edges build some raise beds, lay some nice pavers. Plant it densely (big plants in small place). Put some garden furniture in. This would improve resale chances.

If it is the right price, and right for you, go for it.

Sorry no, it's a 3 bed detached.

[LionessesRules]

I think you could do a lot to improve that garden.
But yes, it's small.

[DisforDarkChocolate]

I'm looking for a 3 bed and that garden would suit me fine if there was open space close by. I'd be more put off by the garden having no greenery at all and wondering how much it would cost to create a garden. I'd also want to have side access too instead of storage.

A small 3rd bedroom would be fine, and so common, as long as it would make a nice office.

It's probably a house more suited to a small family, one with a teen or adult still at home who doesn't want lots of garden maintenance. Plenty of those people about.

[Samara26]

I see what u mean, but most 2 bed semis are not 1200 square foot - not even most 3 bed semis are. But price is probably a bit high - probably 10-20k high. Not 100k lol

[Samara26]

Thank you Disfordarkchocolate- I agree, garden needs some work. The side access is still side access, it just has a door at the front and I was planning on putting one at the garden end too. It's pretty long and wide as spans the length of the house

[Samara26]

Also there's a huge park pretty much opposite

[Amboseli]

I wouldn't buy this property just to use the mortgage offer you have now. Why don't you look for something else to buy with the mortgage you've got?

[Samara26]

The whole mortgage would have to be re-evaluated on current criteria, as I've used the offer now on this property so cannot use it again elsewhere. It would revert back to 4%

[Petronus]

How long is your 2.19% deal? It’s not going to be the term of the mortgage, you’re going to come out of it and pay higher interest rates, quite possibly higher than what is being offered now. I’m not sure the saving is going to be as big as you think compared to the loss you could make on a house that’s difficult to sell in a falling market/recession.

[Samara26]

5 years but by then interest rates could be going down again. It's a saving of 15k

[NorthernDuckling]

You could make the garden lovely, what is the rest of the house like? Is it very plain rental style because that may also be putting others off.
A small garden isn’t going to appeal to families, but a cool outdoor relaxing space would appeal to young professionals or a nice green space with lots of pots/easy gardening to an older buyer.
If you do go with the house I’d recommend getting a proper garden designer to do you a plan that you can implement. We had it done it was £150 and our garden is fabulous (our NDN has copied our design) 😍
A park across the road is also a bonus, my grandparents had a very similar sized garden when they downsized (into a 4 bed semi) with a park opposite and 2 mins walk from a good high street, as kids we were allowed to play in the park as my gran could still see us from her living room window. When we sold it, it took longer than the estate agent expected (6 weeks) rather than offers before going on the market and we sold to a couple exactly like my grandparents who still wanted space for family to stay, a good sized kitchen diner but a smaller more manageable garden and no steps to the house.

[C4tastrophe]

It’s been on the market for 2 years during a boom. Personally, I’d take the surveyor’s advice and jog on.

[Randomword6]

Did you say there is room for 2 cars? Could you repurpose some of that space as garden? Or have fully foldable windows across back wall so part of the house functions as part of the garden?

[Samara26]

I think the kitchen would help sell the house as it's quite big and looks straight out of an Instagram feed.

I personally like the tiled driveway for 2 cars and would make use of it. I wouldn't want to turn any of it into grass and it wouldn't work with the layout.

The rent of the house is just like a modern new build, neutral and plain. The ceilings are sloping from a meter up in all rooms but the filing goes a lot higher than standard

[bellac11]

@Sofia109

that's useful to know, but this house was already valued by my mortgage company and the valuation came back 'ok' - that's all they tell you. My surveyor did not do a valuation, he just said i think you can get more for your money and it will be hard to sell as its a family house and most families wouldnt choose a garden thats around 3 meters wide at the back of the house

Did you speak to him or is this in the report

I actually think is none of his business whether he thinks you can get better value for money, hes not a financial advisor or your accountant.

Surely if you like the house and the drawbacks are not something you see as negatively affecting your life then buy it.

[Samara26]

I asked for his opinion and spoke to him on the phone. There's also a risk the neighbour on the other side may sell the bottom of their garden like the other 3 neighbours have, and then I'd have another neighbour very close the other side.

I am Concerned about resale value because it's impossible to know how long I'll be there. I think u always have to consider this when buying, even if u may sell in 10-15 years.

[bellac11]

Yes if you asked for his opinion then fair enough

We have a small garden and while I might long for Monty Dons garden at the end of the day I wouldnt be able to manage it. Our garden is about as big as your picture, perhaps just a smidge bigger. Ours is a 3 bed semi with 3 reception rooms but its just the two of us now which means that not every 3 bed house will necessarily have a whole family in it who want a big garden

The issue about the land is valid though and therefore would it be an option for you to buy this

Do you need a 3 bed at all?

[Samara26]

@bellac11

Yes if you asked for his opinion then fair enough

We have a small garden and while I might long for Monty Dons garden at the end of the day I wouldnt be able to manage it. Our garden is about as big as your picture, perhaps just a smidge bigger. Ours is a 3 bed semi with 3 reception rooms but its just the two of us now which means that not every 3 bed house will necessarily have a whole family in it who want a big garden

The issue about the land is valid though and therefore would it be an option for you to buy this

Do you need a 3 bed at all?

When u day the issue about the land, do u mean someone building next door?

Tbh I will contact the council as I've no idea how they got planning permission to build this one so close to the one next door. The surveyor does think it will de-value the house if they did but it's difficult to say.

[2bazookas]

You should listen to his advice.

Surveyors acquire a huge level of local knowledge. He may know damning stuff about that property's history that he can't possibly put in writing in a formal report.

[ginghamstarfish]

I'd listen to him.