Bought my first do it upper
Discussion
Good job, OP. We've done a bit with property and pics are often the key to reeling them in from Rightmove. These pics of your place are definitely a bit under par. Lawn needs raking, the bins need tidying up and that slab is a bit of an eyesore, tbh. You could do worse than rake a bit of gravel across it if only to make it look a bit tidier for the photos. Also if you know someone with a decent wide-angle lens SLR then get them round, as the right pics will widen out the rooms considerably.
Finally don't be afraid to rent it out if it sticks and you're stuck with a house that won't make you a profit and is costing you council tax, etc. I bought a doo-er upper two weeks before the Northern Rock crash and at the time it was a disaster, sat on the market for 14 months. In the end I rented it out and it found a tenant within 6 days. Five years, £50,000 in rent and capital appreciation of at least £35,000 and at the last estimate around £17,500 p.a and counting, I'm glad we never sold it for a loss.
Finally don't be afraid to rent it out if it sticks and you're stuck with a house that won't make you a profit and is costing you council tax, etc. I bought a doo-er upper two weeks before the Northern Rock crash and at the time it was a disaster, sat on the market for 14 months. In the end I rented it out and it found a tenant within 6 days. Five years, £50,000 in rent and capital appreciation of at least £35,000 and at the last estimate around £17,500 p.a and counting, I'm glad we never sold it for a loss.
It's not an easy job this property development lark , everyone expects perfection when they view a development property .
Sort the patio and garage base out together , it will lift the outside area beyond belief , it's the only real issue letting that house down in my opinion , stamp duty paid by yourself is a great incentive to a first time buyer .
Could be an idea to get a mate to go in the agents posing as a buyer just to see if they are pushing it , they should be because it's easy money for them being empty and presented well , I had a nightmare with useless agents over here in heswall , 2 didn't even speak when I went in the shop !
Don't start flapping just yet , I said before it's a 9 month money cycle minimum
Good luck
Sort the patio and garage base out together , it will lift the outside area beyond belief , it's the only real issue letting that house down in my opinion , stamp duty paid by yourself is a great incentive to a first time buyer .
Could be an idea to get a mate to go in the agents posing as a buyer just to see if they are pushing it , they should be because it's easy money for them being empty and presented well , I had a nightmare with useless agents over here in heswall , 2 didn't even speak when I went in the shop !
Don't start flapping just yet , I said before it's a 9 month money cycle minimum
Good luck
Well done on your project op. My comments would be to put curtains in front rooms and re-do the pictures. All my eye sees with the current pictures are busy little roundabout. Hide it with curtains.
Also agree that garden needs tidying and I would put a decent sized pot plant by front door for kerb appeal.
I have also heard that people prefer to see a house "dressed", I prefer it empty so I can see full size of room, but may e something to think about later if it still doesn't sell
Also agree that garden needs tidying and I would put a decent sized pot plant by front door for kerb appeal.
I have also heard that people prefer to see a house "dressed", I prefer it empty so I can see full size of room, but may e something to think about later if it still doesn't sell
If you do end up looking to rent it out then have a chat with Steve at Concentric lettings in Waterloo ( Concentric Lettings Liverpool), he consistently gets higher than average rental yields for the folk I know that use him. Sadly I don't have enough spare cash to do likewise!
DSLiverpool said:
So it's at the top of its valuation...
...and compared to other recent sales?The streetview location looks some way off - is the house 5 doors up from the shops? If so, is the location (close to the roundabout and double yellows outside) putting people off? The valuation might need to reflect that.
Botteh said:
Doesnt seem like the asbestos / roof end of life issue has been tackled fully.
Surely it will also be picked up on a potential buyers survey and they'll worry about replacing the roof whilst also paying top end of the market ?
All the houses have the same roof about 30 in a row, 4 sold since summer with same roof, we have "sealed" the tiles but I may be wrong about that.Surely it will also be picked up on a potential buyers survey and they'll worry about replacing the roof whilst also paying top end of the market ?
Update chaps. Its sold, I had to add a posh shed at £1100 as we had no space for a freezer (will learn) but gone to a 1st time buyer for just under £135k (cost £80k + building work and shed).
I have learnt from this that a kitchen is very important and whilst nice ours was too small, location also - I thought it was brilliant but it was too near a junction for the more timid types to get out the path.
Now looking to do it again but to rent them, myself, mrs and FiL are looking at 6 terraces all under £50k inc building work preferably all near each other as our "investment".
I have learnt from this that a kitchen is very important and whilst nice ours was too small, location also - I thought it was brilliant but it was too near a junction for the more timid types to get out the path.
Now looking to do it again but to rent them, myself, mrs and FiL are looking at 6 terraces all under £50k inc building work preferably all near each other as our "investment".
Update. So remember it was "valued" at £144.950 (we paid £80k as a dump) and we got nowhere, we dropped in stages to £136k and accepted £134k 2 weeks ago, the sale is tardy and a new guy has offered £136k so we have told buyer 1 survey and mortgage proof this week or it goes to the other guy. This is all new to me Ive never haggled over selling a house as only done it twice and I got asking price in days (old days).
I have rechecked calcs and we are definitely on £25k before agent and solicitor so worth it.
I have bought a terrace to BTL but I will start a new thread on that after this has gone.
I have rechecked calcs and we are definitely on £25k before agent and solicitor so worth it.
I have bought a terrace to BTL but I will start a new thread on that after this has gone.
Well the June offer is due to complete on Friday !!! this has been a royal pain in the arse but its profitable hence I stuck with it - just had a call from my solicitor who has a letter "what have we done to the property to justify an increase from £80 to £134 in a year" they have had 2 surveys (one a big one) and a valuation all ok - So whats this all about ?
DSLiverpool said:
Well the June offer is due to complete on Friday !!! this has been a royal pain in the arse but its profitable hence I stuck with it - just had a call from my solicitor who has a letter "what have we done to the property to justify an increase from £80 to £134 in a year" they have had 2 surveys (one a big one) and a valuation all ok - So whats this all about ?
Ha! Don't worry OP, I purchased my last project for £116k and sold it 18 months later for £365k - the buyers solicitor asked the very same question! According to my solicitor it's a daft question that some solicitors seem to ask in an attempt to cover their backs with regard to money laundering. I assume the concern is that you bought cheaply..... 
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