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How much is this property worth? RM link included!

105 replies

Nav7 · 22/02/2023 19:45

Hi all, I hope you're all well. Just wanting to gauge some opinions on what you guys think this property is worth and how much approx would be needed to get it to a decent liveable standard? I appreciate its all about opinions so no right/wrong answer.
www.rightmove.co.uk/properties/129934388

It came on to the market in Nov 2021 for £310K (at the peak of the market), got sold/taken off/sale fell through, unsure what happened to be honest... has had a lick of paint and put back on, on 9th Dec at offers over £340K which I thought was ridiculous considering the work required and current market conditions. It was then reduced to OIRO £320K 2 weeks ago. I think it needs approx £50K spending on it (internally) for a new kitchen, bathroom, downstairs WC, removing walls between kitchen and office/dining, possibly electrics and a couple of patio doors... and that's just looking at it from the surface. EPC rating is an F.

Comments/opinions greatly appreciated 🙂

OP posts:
CoolShoeshine · 23/02/2023 19:02

For those saying ‘I’d never buy leasehold’ thousands of houses in this area are leasehold by standard. The council owns the ground and the homeowner owns the house. It’s nothing like what most people assume to be a leasehold house, there’s no risk of dodgy freeholders causing problems.

Yesthatismychildsigh · 23/02/2023 19:06

I know exactly where that is. Looking at sold prices there, as expected, they’re wildly taking the piss. And agreed with pp about the leasehold.

Nav7 · 23/02/2023 19:59

mrsm43s · 23/02/2023 18:47

There's nothing about that house that makes me think it's worth significantly less than the asking price, especially when comparing the other houses you posted - it seems to have already been priced to take into account it's condition, which although not decoratively desirable or modern is most definitely liveable.

I would imagine you'd need to offer within 5-10K of the asking price if you want to be successful.

The thing is, the ones I posted are also overpriced in my opinion hence why none of them have sold.. especially the one on Caithness, been on the market since July at £330K. The one on Rutherglen was reduced from £380K to £360K.. Still hasn't sold

OP posts:
dammit88 · 23/02/2023 20:06

315

User158432907 · 23/02/2023 21:19

Looks like a probate property so probably would have been priced accordingly, I would probably offer £300k

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