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I've been tracking the housing market in Cheadle Hulme for the past few years, with a mind for buying for myself, and because a relative had an interest in buying there too. Although she has recently ruled it out having recently checked how much private school fees are nowadays. Likely to be Hale or even Wilmslow for her.

Someone wants to sell this house (Guide Price £550,000) but not exactly the slickest presentation for such a big asking price.

http://www.rightmove.co.uk/property-for-sale/property-34929631.html

I didn't even know there were houses down that narrow lane. It's definitely not my idea of a nice part of Cheadle Hulme, at the end of the bypass.

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I've been tracking the housing market in Cheadle Hulme for the past few years, with a mind for buying for myself, and because a relative had an interest in buying there too. Although she has recently ruled it out having recently checked how much private school fees are nowadays. Likely to be Hale or even Wilmslow for her.

Someone wants to sell this house (Guide Price £550,000) but not exactly the slickest presentation for such a big asking price.

http://www.rightmove.co.uk/property-for-sale/property-34929631.html

I didn't even know there were houses down that narrow lane. It's definitely not my idea of a nice part of Cheadle Hulme, at the end of the bypass.

Always makes me nervous when an agent uses that standard phraseology of "looking to put your own stamp on a property...."

This generally means: "A mountain of additional work - and expense - required." Add an extra £100-200k on that £550k, and you might as well have just bought a nice place in Hale, no? Unless the £550k includes the developer finishing the entire house and "grounds" to your specification?

Not clear from those pictures what land you actually get? Sure, there is a big field shown in one of them, but that seems to be the other side of the metal fencing they've erected. Maybe those are "plots" to be filled with additional houses over the coming years? Would kinda spoil the view...

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I've been tracking the housing market in Cheadle Hulme for the past few years, with a mind for buying for myself, and because a relative had an interest in buying there too. Although she has recently ruled it out having recently checked how much private school fees are nowadays. Likely to be Hale or even Wilmslow for her.

Someone wants to sell this house (Guide Price £550,000) but not exactly the slickest presentation for such a big asking price.

http://www.rightmove...y-34929631.html

I didn't even know there were houses down that narrow lane. It's definitely not my idea of a nice part of Cheadle Hulme, at the end of the bypass.

Awful location.

Awful prop.

Awful price.

FAIL!

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longsight/spath lane is property to the north or south of A555. if south is it one of the derelict ones that have come to auction a couple of times over last few years. if north do you get a nice view of the A555. as phil and kirstie say location etc etc, why do people not understand that a cr3p location coupled with pictures of a building site will not sell a property, no matter what what your ea says and bridgefords are full of more bull than most. pull it off the market finish it off.

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Always makes me nervous when an agent uses that standard phraseology of "looking to put your own stamp on a property...."

This generally means: "A mountain of additional work - and expense - required." Add an extra £100-200k on that £550k, and you might as well have just bought a nice place in Hale, no? Unless the £550k includes the developer finishing the entire house and "grounds" to your specification?

Or it could mean the developer has run out of borrowed money? Instead phrased as they're the ones looking to do the buyer a favour by allowing them to buy it in that condition. Although it could possibly be like you suggest, that they intend to finish the property off. To finish it to a buyer's spec would require a buyer actually committing, and who would commit and pay on the word of a builder that they'll finish it off after they're received the money?

The last story I was told about a builder was he refused to fix some serious faults that became apparent after he'd got paid tens of thousands for the job, giving miserable excuses to the customer. I suspect they're at Guide £550K for it in that condition, but if that were true maybe it would be cash buyers only.

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FAIL!

+4.

longsight/spath lane is property to the north or south of A555. if south is it one of the derelict ones that have come to auction a couple of times over last few years. if north do you get a nice view of the A555. as phil and kirstie say location etc etc, why do people not understand that a cr3p location coupled with pictures of a building site will not sell a property, no matter what what your ea says and bridgefords are full of more bull than most. pull it off the market finish it off.

Yes the bypass right at the bottom of their gardens, and a tricky lane to get out of on a busy morning I would have thought.

I notice this house on the same Longsight lane went to informal tender last year, and sold for £238,650.

Again last year, on the same lane, someone bought this house, (or perhaps their interest in it from someone else) for £214,000. It's been put back on the market a few months ago (at Guide Price £385,000 when they tried to run it through auction) but I can't imagine much works been done to it since 2011 purchase. Awful bathroom. http://www.rightmove.co.uk/property-for-sale/property-21761805.html

I think the fields, perhaps with the exception of a parcel of land, are owned by a school, where they play football and park their double-decker buses. The founder's house used to be at the entrance.

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down towards the bypass end looks like some sort of yard farmyard buildersyard. the school playing fields sound as if they could be hulme hall school or maybe they are nearer thye refurb pub and manc rugby club they hold a regular festival in may called strummerfest (as in joe strummer)

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Check out the floor plan to this place too. It's not a house, it's a Scooby Doo lair. Notice how you have to go through a utility room to get into the actual house for one thing (on top of the hallway and stairs). Unless there's a fireplace which rotates through somewhere else, it's difficult to say as they have failed to post a single picture of the interior.

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Check out the floor plan to this place too. It's not a house, it's a Scooby Doo lair. Notice how you have to go through a utility room to get into the actual house for one thing (on top of the hallway and stairs). Unless there's a fireplace which rotates through somewhere else, it's difficult to say as they have failed to post a single picture of the interior.

Ughh I see what you mean. Very strange. Even harder for someone to put their own stamp on it.

They've gone for a cottage look but something about it doesn't go well for me. The entrance being a shy little porch which protrudes at the left edge of the house, when the rest of the house has a bolder look about it.

It looks like they battled with two styles. If it didn't have that window with balcony on the right, but instead uniformed sized windows across top and bottom, it might look ok as a cottage with the entrance at the left side. Instead the mixed style, on balance, looks like it would have better suited a grandeur entrance in the middle.

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Ughh I see what you mean. Very strange. Even harder for someone to put their own stamp on it.

They've gone for a cottage look but something about it doesn't go well for me. The entrance being a shy little porch which protrudes at the left edge of the house, when the rest of the house has a bolder look about it.

It looks like they battled with two styles. If it didn't have that window with balcony on the right, but instead uniformed sized windows across top and bottom, it might look ok as a cottage with the entrance at the left side. Instead the mixed style, on balance, looks like it would have better suited a grandeur entrance in the middle.

Phew! Glad we've finally talked you out of it. :)

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Phew! Glad we've finally talked you out of it. :)

They've reslisted it at the same asking price, with the same agent, but on a new link. I sometimes think EAs or sellers track back Rightmove hits on their listings to to source.

This house came to market the other day. I dimly recall when it was being built, along with perhaps 2 more of the same style in a row, and at the time thought they looked very ugly, and out-of-place for the area. Could have been Harrison homes, can't fully recall. The other houses they did build in the general area at least 'look' much better. Don't know about their general build qualities.

Offers over £430,000

http://www.rightmove.co.uk/property-for-sale/property-35043898.html

It's on a busy main road, and at the less desirable end, nearing the roundabout. Turns out it's as bad inside as I think it looks from outside. The garden is a complete joke too, imo. Overlooked by other houses and the (parish?) church.

Offers over £430,000. This is some of what I mean about Hale, at times, looking like good value compared to other areas with current asking price. Especially when good schools are a consideration, although Woods Lane in Cheadle Hulme looks to have upped its standards a bit. I see they all now wear smart black uniforms.

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It was last sold in 2005, and I'm surprised they paid what they did.

Property type: Detached | Tenure: Freehold | Last sale: £430,000 | Sale date: 2nd Dec 2005

and it looks like, from Zoopla's archive, they've since listed it for sale at Offers Over £430,000 in 2007. Same again in 2010 (with pics).

And the latest listing here in 2012 now again seeking about what they paid in 2005.

It looks slightly repo in the latest listing pics, with little effort gone into it, compared to the 2010 listing pics.

A house with a sloping driveway, allowing runoff rain-water towards the house and garage is something I intend to avoid if I can. Here, the run off rain surface water has slightly affected the bottom of the garage door. Bursts of very heavy rain where a non-permeable driveway slopes down towards a house can see garages flood, or even worse.

Edited by Venger
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It was last sold in 2005, and I'm surprised they paid what they did.

Completely agree with you. Truly hideous place and grossly overpriced - both for the property and the location.

Clearly looks like a vendor who has had their fingers burned by their initial purchase price, and now looking for a "get out of jail free" card. It's very similar to the case I mentioned on the Northern Moor thread the other day - of people just not accepting that they overpaid and no-one is going to come along and dig them out of this mess. I'd say this is currently mirrored across much of the UK. With the younger generation of people being essentially broke, you do wonder just who is going to come along with £400k+ in the next 5, 10, 15 years to purchase this sort of stuff at these prices?

Latest from my family members is that their "chain" in South Manchester completes next Monday - we'll see if that goes through. These are nice detached houses in nice locations, and all concerned have had to drop prices back by 20-25% in order to get a proceed-able chain. So there are some realistic vendors out there. We just need more of them - and I think market forces will dictate just that in the coming months. :)

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It was last sold in 2005, and I'm surprised they paid what they did.

Property type: Detached | Tenure: Freehold | Last sale: £430,000 | Sale date: 2nd Dec 2005

and it looks like, from Zoopla's archive, they've since listed it for sale at Offers Over £430,000 in 2007. Same again in 2010 (with pics).

And the latest listing here in 2012 now again seeking about what they paid in 2005.

It looks slightly repo in the latest listing pics, with little effort gone into it, compared to the 2010 listing pics.

A house with a sloping driveway, allowing runoff rain-water towards the house and garage is something I intend to avoid if I can. Here, the run off rain surface water has slightly affected the bottom of the garage door. Bursts of very heavy rain where a non-permeable driveway slopes down towards a house can see garages flood, or even worse.

:ph34r: Something not quite right about that one.

Given house type/style and it's position on Ack Lane West similar houses would have been selling for around £300k in 2005.

That must have been the new build sale price. They overpaid by AT LEAST £100k. Perhaps it was a Northern Rock mtge.

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Completely agree with you. Truly hideous place and grossly overpriced - both for the property and the location.

Clearly looks like a vendor who has had their fingers burned by their initial purchase price, and now looking for a "get out of jail free" card. It's very similar to the case I mentioned on the Northern Moor thread the other day - of people just not accepting that they overpaid and no-one is going to come along and dig them out of this mess. I'd say this is currently mirrored across much of the UK. With the younger generation of people being essentially broke, you do wonder just who is going to come along with £400k+ in the next 5, 10, 15 years to purchase this sort of stuff at these prices?

Latest from my family members is that their "chain" in South Manchester completes next Monday - we'll see if that goes through. These are nice detached houses in nice locations, and all concerned have had to drop prices back by 20-25% in order to get a proceed-able chain. So there are some realistic vendors out there. We just need more of them - and I think market forces will dictate just that in the coming months. :)

The fact it's now empty, makes me wonder if there are still vendors in control of events, or whether it's their lenders. I've read your genuine concern for younger people (and 'not so young') with high house prices in a post you made on the main forum recently. Feel exactly the concern, for them now and their futures. The current lot are being encouraged into paying high prices with newbuild schemes, so more difficult for them to trade up from there, imo.

To be honest I don't know if that particular house will still be in a habitable condition in 15 years without some significant works and money spent on it. What's with the white in the roof tiles? Unless the pics were taken on a cold winters morning. Secondary efflorescence? If so it's probably just a cosmetic imperfection.

I'm sure I read about your family members' chain recently, but can't find the link. I really don't know much about housing chains, but it reads like quite some readjustment from all involved in that chain though to try and get things through. It would be good if it all completes. I hope we get more such co-operation in chains, at lower transaction prices, when it works for all those involved. Realistic vendors. It's still the market price, and the lower prices should be registered at the LR for the indices.

Although in Sarah Beeny's now defunct website 'Completing Chains' I think the idea was to do similar, whilst helping the person at the lower end of the ladder in the chain, by arranging a good price for them at sale, which perhaps wouldn't be so good for people wanting prices to fall at the lower ends of the market.

Edited by Venger
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:ph34r: Something not quite right about that one.

Given house type/style and it's position on Ack Lane West similar houses would have been selling for around £300k in 2005.

That must have been the new build sale price. They overpaid by AT LEAST £100k. Perhaps it was a Northern Rock mtge.

Oh, I've just remembered. Before those 3 houses were built, I'm fairly sure there used to be petrol station and a garage workshop sited there. A friend once told me they have do do a lot of ground works and soil testing before approval is granted for houses to be built on the sites of old petrol stations, and I was told it adds a fair bit of additional expense to a house building project.

Not that an individual buyer hasn't then got an option in what they are prepared to pay for any house built on such a site.

Newbuild premium? Must have it mentality. Easy lending and borrowing allowing that price? I also don't think it was any sort of value at £430K at the end of 2005, nor now.

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Oh, I've just remembered. Before those 3 houses were built, I'm fairly sure there used to be petrol station and a garage workshop sited there. A friend once told me they have do do a lot of ground works and soil testing before approval is granted for houses to be built on the sites of old petrol stations, and I was told it adds a fair bit of additional expense to a house building project.

Not that an individual buyer hasn't then got an option in what they are prepared to pay for any house built on such a site.

Newbuild premium? Must have it mentality. Easy lending and borrowing allowing that price? I also don't think it was any sort of value at £430K at the end of 2005, nor now.

It has a sale board up on google street view. Not sure when they were taken - says 'copyright 2009' but that could be a general catchall. Certainly a couple of years ago.

Perhaps the builder bought it to set price for rest of development. Doubt it's a repo by major lender. They'd have offloaded way before now for less.

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I'm sure I read about your family members' chain recently, but can't find the link. I really don't know much about housing chains, but it reads like quite some readjustment from all involved in that chain though to try and get things through. It would be good if it all completes. I hope we get more such co-operation in chains, at lower transaction prices, when it works for all those involved. Realistic vendors. It's still the market price, and the lower prices should be registered at the LR for the indices.

Housing "chains" are the curse of the market. I think the figures for collapsed chains far outweigh those that successfully complete.

As regards my family member's place and the realities of actually trying to sell at the moment...

Their place - a four bed detached, on at well, well under £1 million - had to chop £180k off from peak prices in order to secure a sale. Still took over a year to sell. I hope it completes for them, as this morning I've noticed an exact same house about 10 doors away on the same street hit the market: the asking price is just £5k more than the sale price my family member has achieved. In other words, if it doesn't complete next week, the new market they will be moving back into is one where the competition is now fiercer than ever. They would have zero chance of achieving their current sale price, and might even struggle to get within £50k of it. The only reason the buyer is willing to push ahead at present is they are desperate to move in whilst the kids are off school. It's going to be very interesting to see what happens to the market once the first weeks of Sept. hit when the market usually tails off significantly. Could be a long Winter for vendors.

EDIT: Typo

Edited by Nomadd
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It's going to be very interesting to see what happens to the market once the first weeks of Sept. hit when the market usually tails off significantly. Could be a long Winter for vendors.

As you've said, the market isn't all rosy at all, and these stressful chains are evidence of that. Often falling apart. Stressful for those involved, and some serious market pressures evident.

Edited by Venger
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As you've said, the market isn't all rosy at all, and these stressful chains are evidence of that. Often falling apart. Stressful for those involved, and some serious market pressures evident.

A good downsizer home. I think it should go at that price, unless too many older homeowners are holding out for stupid asking prices, refusing to lower, thus limiting competition for quality downsizer homes in good areas.

http://www.rightmove.co.uk/property-for-sale/property-38066768.html

Last sold for £180K in November 2009.

http://www.zoopla.co.uk/property/3-swann-grove/cheadle-hulme/cheadle/sk8-7hw/21538841

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A good downsizer home. I think it should go at that price, unless too many older homeowners are holding out for stupid asking prices, refusing to lower, thus limiting competition for quality downsizer homes in good areas.

http://www.rightmove.co.uk/property-for-sale/property-38066768.html

Last sold for £180K in November 2009.

http://www.zoopla.co.uk/property/3-swann-grove/cheadle-hulme/cheadle/sk8-7hw/21538841

Solid enough price. The only problem with semi-detached bungalows is if you get a deaf sod next door, your life truly can be misery and not much you can do about it. I rented a place once, and the lady nextdoor was 95 and deaf as a post. Fortunately she didn't have the TV on too often, but when she did, it blew every house in the street down. My neighbour still gets endless complaints about the noise her mother makes in her home a few miles away from us; the council have been involved, etc., but nothing can be done. You'll also find that old folks like their dogs for company, which again can create an endless noise nuisance you can't do anything about - the council just don't want to get involved as "it's just a nice old person living their final few years..." So, if I went the bungalow route, it would definitely have to be detached! :)

The other concern with bungalows would be resale. If you bought a house (even a smallish one) you'd still probably have as much space as a bungalow, and also the option to extend. Buy a house in a decent catchment area for schools, then it's a lot easier to get rid of if you wanted to. With bungalows, you tend to be waiting for some old bugger to get rid of their huge house which no-one wants in order for a chain to progress. Look at the number of bungalows in Hale/Hale Barns - decent ones, in good locations - that have been sat on the market unsold for years.

I also find bungalows in, general, to be very overpriced. You are competing with older downsizers who have insane amounts of equity in their current properties. There are three small detached bungalows close to my current location in a nice suburb, but the vendors want £700k a pop for them. I guess £700k may sound cheap when you are stepping down from a larger property, but looking at it from the "bottom up", it seems insane pricing to me for what you get. Obviously the one you linked to is much cheaper, but as we've discussed, that kind of budget could get you into a decent 3 bed semi in a nicer area if you were prepared to do some refurb work. I think in the current market, and the market going forward, I'd stick to the greater security of a house. :)

EDIT: For those reading this thread who are interested... My family members chain I mentioned above in the thread actually did complete on Monday. Phew. :) So it shows, if people are prepared to be sensible over pricing, properties do shift. Mind you, even with everyone chopping prices back from peak by roughly 25%, it still took a year or more to put that chain together. The market now is looking a lot more difficult, though.

Edited by Nomadd
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Excellent points there Nomadd. I didn't consider that and I've had experience of attached neighbours with barking dogs, and a woman who knocked on the wall of my Gran's bedroom wall if the TV was on (not particularly loudly) anything past 9pm. I can understand why a detached home is high in your list of priorities.

Resale. There I was thinking of perhaps making an offer for that bungalow, at something around £125K-£135K and offer to rapidly complete, for a quick sale and see if the seller bit,

I know of one couple seeking £450K for their home, which they've MEWed out, and it's been on the market for 2 years. If they sold they'd still be able to comfortably afford such a bungalow, and it is in a really good area. There must be quite a few sellers like them, ever closer to the edge, needing to downsize.

I thought that bungalow might be reasonably 'crash proof' for a few years (at around £125K-£135K), given elderly downsizing money willing to pay a slight premium even in a crash, and able to offload it for around the same money when wanting to trade up.

Then trade up after selling the bungalow on, when the semis you mention are even better value, but the bungalow still in demand to equity rich downsizers. That was my logic about it, but I've not convinced myself it would work out that way..

It would be dangerous to extend such a bungalow in the meantime, because elderly downsizers usually have little need for a 3rd bedroom or anything. It wouldn't add any value, and could even reduce interest in the property when trying to sell it on.

I agree bungalows are usually very overpriced, but that one is down on 2009 sold price, where houses in that conservation area are generally asking way more than 2009 prices. It's not a 700K Hale one, which I agree is insane for what you get, not a particular attractive proposition for downsizers from the very top of the market either. I can understand such highly priced bungalows not getting market attention. This one does have the advantage of being appropriate for a larger catchment of downsizers. In the conservation area, a short walk on footpaths which avoid crossing any busy main road to the Post Office and other shops (including Waitrose).

However there is the waiting for downsizers and the chain issues. I'm also thinking that many older owners are especially well positioned too, with lots of equity with pensions, and wonder how many find a real need to sell their homes to downsize. After all, the seller has just encountered the same problem having just had to authorise a lower asking price to try and find a buyer.. And the possibility for noise issues with next-door has put me off. Also I don't fancy being stuck on a row of old people, even though the area is excellent; in the best part of Cheadle Hulme. Thanks for your input there though, and very useful.

Congrats for your family member escaping with a successful sale. I gather they took a significant hit, but could have been much worse with that new property coming onto the market at a lower price, if prices slide further from here, with your estimations they could be forced to accept £50K less if having to go through the process again afresh.

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The reason a lot of this "bungalow talk" resonates with me at the moment is that I have another family member looking to sell one - a 3 bed detached - in order to move back to a semi in Didsbury. They did the "downsize" thing about 18 months ago to the bungalow and have been deeply unhappy ever since. So sell up and back to Didsbury and a house for them it is.

Luckily, that family member's husband is a builder, so they've been able to extend and fully revamp the place; so far, the viewings have produced a couple of genuinely interested parties - but they are stuck trying to sell their own places. The view from the EA who sold the bungalow to my family in the first place was honest enough in telling them that "they weren't likely to make anything back" if they refurb'd the place and sold it on. Luckily, as they've done all the work themselves, they might walk away with a small profit. Still, when you take into account the entire list of costs of selling up in Didsbury in the first place, only to move back again, it really doesn't add up. And now, of course, they want something "rough" that they can do up with an aim of selling on again in 2-3 years. Can't say I'd like to live my life constantly on a building site, but hey-ho. :)

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The reason a lot of this "bungalow talk" resonates with me at the moment is that I have another family member looking to sell one - a 3 bed detached - in order to move back to a semi in Didsbury. They did the "downsize" thing about 18 months ago to the bungalow and have been deeply unhappy ever since. So sell up and back to Didsbury and a house for them it is.

Luckily, that family member's husband is a builder, so they've been able to extend and fully revamp the place; so far, the viewings have produced a couple of genuinely interested parties - but they are stuck trying to sell their own places. The view from the EA who sold the bungalow to my family in the first place was honest enough in telling them that "they weren't likely to make anything back" if they refurb'd the place and sold it on. Luckily, as they've done all the work themselves, they might walk away with a small profit. Still, when you take into account the entire list of costs of selling up in Didsbury in the first place, only to move back again, it really doesn't add up. And now, of course, they want something "rough" that they can do up with an aim of selling on again in 2-3 years. Can't say I'd like to live my life constantly on a building site, but hey-ho. :)

Thanks for sharing that. I understand your concern, given your knowledge of your relatives experience with their bungalow, and them now seeking to sell. I'm not going to to buy the Cheadle Hulme bungalow, just was mulling it over and I'm glad you've offered things to think about.

I didn't think it's the worse idea on logic for when selling (hopefully breaking even whilst houses higher up have fallen further still) but worry about getting depression living there for any amount of time. Neighbours more likely having a go at me for excess noise, if not the risk of it coming from deaf grumpy older neighbours, and other owners wiith a grudge against younger people who've moved into a bungalow on their road. And there's always going to be some worry that you've made a mistake and would find it hard to sell at break-even when you needed to, getting stuck there, when you were never personally keen on bungalows in the first place and wanted a house.

In fact, like you suggest, downsizing to a bungalow could be a bit of a shock for many older owner. You really have to prepare yourself to embrace a small bungalow, when moving down from a larger home. It's not just the low maintenance and lower heating bills (?) and age friendly area. Your relative really doesn't sound ready to settle if they're already downsized to a bungalow, but finding themselves keen on selling to find a property to do up, but interesting nevertheless. I'll give them the benefit of the doubt in that they genuinely wanted to downsize, but bungalow life doesn't suit them and they've still got too much energy. Thanks.

I hope they break even but if they're active developers, keen on value adding through improvements, they've got to be careful if they're getting on. They took a big step downsizing to a bungalow. It doesn't sound like a fun lifestyle to always have an urge to work on a property as you say. Some people I suspect get excited to think of how value can be added easily, as from the illusion during the boom, but not quite as easy now.

I still don't think 3 bed bungalows are a good idea value wise. In the boom they sold at a premium, for a relative to stay over or a guest, but I'm seeing 3 beds being very hard to sell in developments orientated towards older homeowners. And no interest from younger buyers living next to all so many other owners 60+. One man I know has been trying to sell such a 3 bed luxury apartment since 2008, in a development that is just older people. No rule that it's just for older people, but that's how it's become over time.

He was all too happy to tell my relative how much it was worth in 2006 and 2007, but even the 2 beds in his development have been hit for value and no one was interested in his 3 bed at a price which still had a premium. It came on at £399,995 in 2008, when 2 beds in the same development have been selling at around £250,000 since 2009 to now, and under further price pressure. No chance for him now. Took it off market even though he also has another property abroad bought in the boom that might be testing his finances. Older downsizers are less likely to pay that sort of seller's premium for the 3rd bedroom.

There are cheaper to buy retirement apartments all over the place these days too. Although I suspect some of them can come with fairly hefty managed service charges though and exit fees. There are probably others with fewer restrictions and perhaps even the right to self manage. Even the more expensive fee ones take in their fair share of people each year who don't think it through properly.

And I've read many can sit empty for years after the owners have died, with those who have inherited trying to balance what they want to sell at and monthly service fees and other costs and risks of keeping a property empty. One apartment I saw reduced right down to £50K in Alderley Edge in 2010, probably by someone who had inherited it and sick of, or unable, to keep paying the monthly service fee. Nevertheless older buyers have these retirement flat options to compete against more expensive bungalows too.

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