Have I priced too high?

[EscapeToSuffolk]

Hello there,
My house has only been on the market for around one week but due to a delay with a transfer of ownership I've already been in Suffolk for five weeks and I've only got one week left to view houses before I need to go home.

The house two doors away sold in a few days and was on for 280k, and whilst it has new bathrooms and a different (but not necessarily better) layout downstairs, it's the same house. I was going to put my house on for 265k but then because my neighbour's house was on for 280k I upped the price at the last minute to 270k. I assumed that they wouldn't sell for less than the asking price after just a few days on the market although I may be wrong.

There were two viewings yesterday and some feedback I've had (from one of the viewers) was that she didn't like the view over the back fence (easily resolvable from downstairs at least), the ceilings on the top floor were too sloped and she thought it was only worth 260k. She also said that it was weird that I'd upped the price but she only knows this because her viewing was booked before my house went live on Rightmove.

I need to sell quickly and I'm viewing a beautiful house tomorrow that I don't want to lose. It would be odd to reduce the price at this stage wouldn't it? If I do fall in love with the house I'm viewing tomorrow is there any way I can hold on to it? I can't keep driving up and down because I have chronic fatigue and I never know how well I'm going to be.

www.rightmove.co.uk/properties/162243332?utm_campaign=property-details&utm_content=buying&utm_medium=sharing&utm_source=copytoclipboard#/&channel=RES_BUY

@Parker231 Upstairs room is pretty big even with sloping roof. It's a large double.

Not the layout - the actual document!

On the first floor plan there's an area marked hall but it appears to have a door - is this the study area? Could you get the plan amended to show as it's valuable space for any WFH people that might be overlooked

I think the upstairs room with the sloping roof looks strange as a twin. It’s the principal bedroom, a double in the middle so it doesn’t look like you’d bang your head getting out of bed would look better. For the room with a double bed, beds pushed up against the wall can make them look small.

@GandTtwice Oh yes - I hadn't noticed that! I'll email the estate agent. Thanks :)

I could try moving it around a bit.

I can't view it 😫

I know this location well. I'm sure you'll have an offer in no time. 😍

@ilovemyhamster aw thank you!! :) It's a lovely area but I've never felt at home somehow.

You're not missing much...it's all plastic grass and sloping ceilings 😃(joking - it's quite nice really)

Your house is lovely and in a beautiful location, and views look great to. Lots of experts on here who are dissing your house have probably never bought or sold a house. I've sold 4 and bought 5, it's fine as it is. You can't do anything about slope roofs so why worry about things you cannot control. The price looks more than reasonable to me. Good luck 🤞

For what it’s worth, I like the sloped ceilings, they add character.

You just have to be patient when you are selling a house. Sooner or later someone will come along and find it suitable for their needs. Other people won’t. That’s just life.

I wouldn't reduce the price yet....give it a week or two at least and ignore the feedback, that buyer clearly has no intention of buying it. People love to make an offer and if you put the price down o £265k then you'll be getting offered at £255k.

Hi chatgpt!

I did want to say that just one person’s feedback is not important. I’m sure it’ll be fine. Most buyers are not tracking prices through online tools and you have a great house there. I would definitely ask for a better floor plan though to show the house off quicker!

I don't think a 5k price difference changes anything, people will offer what they think it's worth and you can accept or not. I think it's a sweet little house and will be perfect for someone.

On paper it's a cracking bargain. Wait a few weeks to see if you get a bite.

Evidence: Next door sold for 250K last year and would be worth £270k now with inflation. Yours was bought for £215K in 2015 and would be worth £341K if it had managed to keep up with inflation (demonstrates that housing should never be seen as an "investment").

But for me, the Area360 stats show flood risk and high road noise so that would automatically discount it.

I'm a bit confused about the loft bedroom. Has it been done to building regs? The ceiling looks suspiciously low and I cant see a door? If this is the case it cant be marketed as a bedroom.

Even if you dropped the price, the viewer who complained it had gone up isn't going to make an offer as she's dismissed the house for other reasons.

the photos of the loft room needs to be in sequence - I thought there were there bedrooms us the loft room at first. In that room with the sloping ceiling I'd move the furniture around so both beds are away from the sloping ceiling. Other than that then if you're getting viewings then asking price isn't the issue.

It's a sweet home (excluding the plastic grass!). I agree with the potential buyer that increasing the price looks odd. It is visible on Propertylog so some other potential buyers will see this too.
If I were you now, I would give it 4 weeks before reducing. You may well get some more interest and a buyer can always make an offer if they really love the house.

There's a simple rule in selling anything, not just houses, if you want/need to get a fast sale you should "price to sell". That means pricing it on the low side so people think if they don't snap it up now, someone else will.

I know this area a little, is it in a flood risk zone?
Also, have noticed lots of houses being reduced atm, think it’s the market (am in South West).

It’s quite difficult to get a good price for your house if you need to sell quickly. Well unless you’re lucky and somebody who needs to buy quickly comes through the door.

But it’s a bit weird the prospective buyer didn’t make an offer at £260k if it’s on at £270k, that’s only a small difference and nobody sensible offers the asking price (unless it’s underpriced, which yours is not).