Wednesday, November 21, 2007

Whatever they’ve done, demand the other, then offer less

Selling houses: Purchasers put off by perfection

Fully renovated properties are not selling, as buyers seek out unmodernised homes to 'do up' as a way of adding value in a slow market. Zoe Dare Hall reports

Posted by saintjay @ 05:05 PM (586 views)
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2 thoughts on “Whatever they’ve done, demand the other, then offer less

  • Sold My Soul To The Never Never Never says:

    It happened to us – bought a property in 1989 – spent 30K renovating it (but putting essentials in such as central heating) and when the time came to sell it in 1998 it only went for 9K more! There’s gonna be a lot of disappointed people out there.

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  • There’s a lot of nonsense in this article, particularly the final sentence about a “paradox”.

    In reality, homes should be bought and sold as they were, without any renovation. Only the buyer knows what they want – so what’s the point in the seller picking some daft colour scheme and implementing it? It worked in the past simply because it was a psychological thing to fool the buyers into failing to notice structural flaws, but any rational observer will see that the optimum is to let the renovation (if any) be done by the person who’s going to live there (only they know what suits them!)

    Anyway, the prices of these houses are now going to fall more quickly than the renovation can be done!

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