Would you buy this property?

[Tobermor]

We've viewed this property, in a lovely village. It wouldn't be a forever home but could get us on the housing ladder. We don't understand why at such a low price and great location it hasn't sold, which concerns us. Opinions please
https://www.rightmove.co.uk/properties/167697155?utm_campaign=property-details&utm_content=buying&utm_medium=sharing&utm_source=copytoclipboard#/&channel=RES_BUY

It's tiny and barely scraps an E for EPC.

It doesn't look that underpriced compared with others that have sold on the same street. Not sure about the parking situation.

Cons:
Needs work.
Steps to get to the front door.
Front door opens into the living room.
Back door opens into the kitchen.
Stairs are in the kitchen
Rooms are tiny
Bathroom has no window
Back garden is long and narrow.
Might have an easement through the garden, which would mean it would be difficult to add an extension.
No parking.

Pros:
It doesn't seem to cost a lot (See username)

The house next door linked in a pp was bigger before it was extended.

A lot of steps, and is there any parking? When you want to sell it will probably also go a bit lower than you would like. But if it suits you and you think it's good value and within budget go for it, subject to survey etc.

I think it's overpriced - the house is tiny. This is not a family home unless you're the Borrowers. If you look at the floor plan measurement I think you'll see why it's not sold.

The bedrooms are doubles, but you won't get much more than a bed in them.
The rear bedroom is really a single.

I think the reason it’s cheap is down to size and it’s a bit dated but quite liveable. Most small cottages have stairs going out of living room or kitchen.
I think the market is mainly holiday homes as people don’t want to start off in a two up two down. But I did and it was fine.

@Tobermor I think it's really lovely. If it was in Bristol it would cost triple the amount. The OP has already said she views this as a step on the housing ladder and not a family/forever home, and it ticks that box. My first marital home was a very similar cottage style property with stairs straight off the lounge and it only had one bedroom. We had a baby too. It was all we could afford but it was a lovely little house with a nice garden and we were very happy there. We stayed there for a couple of years and made a profit. I think people are being stupidly judgemental and unrealistic about getting on the housing ladder.

It will be the steps and lack of parking that is putting people off. It looks lovely though and I don't think it's too small.

@ginasevern , the housing market is currently not moving, so OP could go in with a low offer. There's no point in comparing it to somewhere similar in Bristol, because it's in the Midlands.

If and when OP wants to sell, the same pros and cons will apply, so it will only attract a small set of buyers.

Nope. I would not buy that for £160k

Agreed, definitely worth going in with a lower offer. I admit the comparison to Bristol was daft but the housing costs are insane here. You'd barely get a garage for that money, so it was a sort of knee jerk reaction.

Shhhh! 😉

I assume you are on the Isle of Wight. Derbyshire is in the Midlands.

It's gorgeous, but also tiny and has signs of a long term damp problem on the walls. That will put people off. If it used to be on auction it must have been hard to sell, and if it's back with an estate agent, can't have sold even at auction.
You could press the estate agent for more details. Or get a survey done and make an even lower offer if you are willing to get the work done.

Ask the agent what they know about the house. It's possibly on a hill which may cause issues with older houses. If it's meeting your needs then go for it.

@ginasevern , Bristol is expensive for houses and going out. It has some nice places and many not nice places.

Where I live is currently popular but you'd struggle to find a 2-bed house for twice the asking price of the one in the OP.(3 came up on Rightmove, within walking distance of an Elizabeth Line station)

I know nothing about the area nor sold house prices in that postcode so can’t comment on that.

I wouldn’t buy it - deal breaker would be those stairs/tricky access.

Thinking about thsi @Tobermor - why do you want to move to Duffield? It is a nice village as in it has a decent range of shops with a good co-op, a railway station, good bus service, nice community engaged in activities in the village (festivals etc). But the big draw for sure is being in catchment for Ecclesbourne secondary school – which is irrelevant for this house. No one could surely live in it with a teenager? even for a single parent it would be a struggle I think.

But I reckon there is always a Duffield premium bc of Ecc – so are you paying it here for no benefit to you or any future buyer I wonder? Would it be worth looking in Belper instead where I suspect you would get more room for the money?

This is similar in Belper but a better road and just a more spacious feel
https://www.rightmove.co.uk/properties/167347331#/?channel=RESBUY

Or this https://www.rightmove.co.uk/properties/162402038#/floorplan?activePlan=1&channel=RES_BUY
or quite a few newer homes

I wouldn't bother with the Belper ones.

Oh which one? Why not? both the ones I linked look a lot bigger to me (tho agree still no parking)

@clary , the first one seems all wrong, and the second one has a very narrow bedroom.

yes agree re narrow bedroom. Thought the first one had a bit more room to breathe. Bedrooms a lot bigger and kitchen also bigger.

You will find more for your money elsewhere in the Midlands.

But it is cute! If you want a cottage style property, it's just a means of getting on the property ladder, and you personally love it and the small space doesn't bother you, go for it. I think it's the kind of property which will have a narrow pool of buyers when you're ready to move on, but if you do a bit of work to it, you might make it more appealing.