Jump to content
House Price Crash Forum

AndyB in Consett

New Members
  • Content Count

    10
  • Joined

  • Last visited

About AndyB in Consett

  • Rank
    HPC Newbie
  1. Aye, I picked the wrong winter to move here alright
  2. It was a genuine question. Since we first told our friends and neighbours in Bedlington that we were moving to Consett, we have been greeted by nothing but the same kind of derisive comment that you made, yet we love the place. Ok, 30 years ago it would've been pretty horrid, but it's changed massively since and my question was intended to try and illicit some sort of rational behind, or explanation for, your prejudice against Consett. I'm not being judgmental here, just intrigued as to why others cannot see what we see.
  3. Chicken - I owe you an apology. I'm sorry if you thought I was accusing you of being a troll, I really wasn't. It's just that one of my beliefs is that you only truly learn when you engage with people that have a different point of view (and accept that yours isn't necessarily correct). At the risk of offending you even more, I was particularly enjoying the Mars/Venus aspect of the debate and seeking to prolong it in the hope that I might actually learn something. Causing offence was never my intention. As it happens I have found something pertinent to my original question. This article from Nationwide suggests that new build has a 7% premium over second hand and that a garage adds 6%. Having said that, there are a couple of health warnings; 1) The report comes from 1999 2) It talks about adding a garage to add value rather than the effect of subtracting a garage.
  4. That's kind of what I'm trying to work out, hence my original question At the moment I wouldn't be pi$$ed off if someone else bought it regardless of the price because I've no idea how to rationally price it, but that was an excellent attempt to get me emoting (is that a word?) rather than thinking. It's a good point you make about future value rather than current value but the area isn't going to improve (any more) over the five to ten years (maybe more) that I intend to live there so the future value will be the current value after the application of any inflation/deflation.
  5. Chicken - I disagree that all pricing is an emotional decision, although there is clearly an emotional element involved in buying a house. I meant that I can't do emotional pricing on high value items not that I can't price them at all. The main factors to my mind are what is the true market value of the house and does it have all the features that I'm looking for. It's the first of these that I'm struggling with (and will not know with any certainty unless I wait until it sells then look it up at houseprices.co.uk). After I know these I'll know the kind of level that I can start putting offers in The specifics of the house are these; All bar one of the same style houses in the same street (there are ten altogether) are still owned by the people that bought them new The average "value" of these ten today is £185,000 (according to the Nationwide HPI) The one that has been resold went for £163,000 in August last year The house has been on the market a month at £174,995 The seller is motivated to negotiate because he is emigrating at the beginning of May (although I suspect he's getting some sort of financial help from his employer for whom he is moving) Edited to say: I was thinking of offering £160,000 but will wait to see what else comes onto the market as I'm in no rush. I think my problem is a lack of experience in buying property means I don't know how to adjust the price for additions/subtractions/conversions. For example a house where a conservatory has been added by the current owner. This could be viewed as an enhancement that adds value because of the increased size of the house or something that detracts from it because the garden is now smaller. I know that a conservatory would normally add value but, because of my lack of experience I would not know how to counter arguments like "yes, our house is £15k more than the Nationwide HPI but we've added a conservatory". I guess what it boils down to is a desire to be negotiating from a position of strength without the estate agent being able to bluff another 5 or 10k out of me You're right about me wanting a bargain though - who wouldn't in this market. Porca - thanks for the opinion and you may well be right although we do find having somewhere "indoors" to park the car when the weather is frosty is useful. I got the impression from an overheard conversation at the estate agents that converting the garage was a bad thing from a sales perspective but it has been done tastefully and we do have a use for the extra room
  6. I agree to an extent, but how do I determine what the house is worth to me if it isn't by calculations such as those that I suggest? You seem to be inviting me to make an emotional decision, which is something I'm incapable of doing with high cost items
  7. There is some statutory reference to it. This in the Protection From Eviction Act as amended by the housing act 1988 (my emphasis)
  8. As someone who has been in a similar position to your colleague I would question whether he did actually have an AST, regardless of what the written agreement says. By default all rental agreements are ASTs provided that the rent is less than £25k pa, the tenant uses the place as his only or principle home and the landlord does not use it as his only or principle home. It sounds to me that, although the landlord stays there infrequently it isn't his only or principle home and that therefore your colleague is a tenant rather than a lodger Edited to say: The advice above is good BTW. Without a check-in inventory signed by your colleague the landlord is going to find it really difficult (if not impossible) proving that the damage was real and caused by your colleague. Note that it's for the landlord to prove that your colleague did the damage not for your colleague to prove that he didn't
  9. I'm looking to buy a house and have been using sale price websites and Nationwide to work out what the notional market value is with a view to putting an offer in between 10 and 20% below this. One of the houses I've looked at, a four bedroom detached, has been owned since new by the same owners and has had the integral garage (tastefully) converted into a utility room and a study. Going by the price they paid originally, its on the market at a reasonable price but it occurs to me that I haven't factored in two things: 1) When they bought it, it was a new build and new build property is more expensive than second hand. 2) The garage has been converted so the property no longer has one. I have no idea what adjustments to make to allow for these. I guess I could subtract 10% to allow for the second handedness (although this might be way off) but I've no idea whether the garage conversion adds or subtracts value. My feeling is that, although few people use their garages for parking their cars everyone wants one for storing junk but I've really no idea. How should I adjust my valuation to allow for the house being second hand and the lack of a garage?
×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.