The nervous wait to exchange....

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Chris344 said:
Not really. We’re talking about bespoke wardrobes in each bedroom, the 5th bedroom has been converted into a £17k bespoke walk-in dressing room - we’d prefer the actual bedroom to be useable as a bedroom and would have to remove most if not all the dressing room

£15k on window dressings, £6k timber paneling. Some of the colours are not to our liking either but that’s just paint.
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Ah that sucks. Instagram generation has warped the idea of value I think!
 
Chris344 said:
Not really. We’re talking about bespoke wardrobes in each bedroom, the 5th bedroom has been converted into a £17k bespoke walk-in dressing room - we’d prefer the actual bedroom to be useable as a bedroom and would have to remove most if not all the dressing room

£15k on window dressings, £6k timber paneling. Some of the colours are not to our liking either but that’s just paint.
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How can you spend £15k on window dressings?
 
The issue is that the companies who sell/install this stuff will tell you anything to help get the sale. We had one of the wardrobe places and the guy was utterly convinced that each penny spent would also directly increase the house value by the same amount. :cry:

Unless it is an extension, it is unlikely to have a huge impact on the value of the house. Even things like kitchens/en suites, as the new buyer likely has different taste. What they can do is make the house more desirable which could end up in a bidding war between potential buyers, but there's no guarantee.

We've considered a 3x8 single story extension on our house, but ultimately I don't think we'll get that much back from it come sale time, as the house is pretty much at the price ceiling for the area we're in as it is.
 
Chris344 said:
It was a physical valuation so yes. Sadly, the vendors won't drop down, and we are not prepared to over pay either. They only purchased it brand new a year ago, spent 90k on internals and wanted an upgrade (celebrity couple).
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Sounds like the right decision - the market is by no means certain at the moment and I wouldn’t want to be paying over the odds for something at the mo
 
ChrisD. said:
The issue is that the companies who sell/install this stuff will tell you anything to help get the sale. We had one of the wardrobe places and the guy was utterly convinced that each penny spent would also directly increase the house value by the same amount. :cry:

Unless it is an extension, it is unlikely to have a huge impact on the value of the house. Even things like kitchens/en suites, as the new buyer likely has different taste. What they can do is make the house more desirable which could end up in a bidding war between potential buyers, but there's no guarantee.

We've considered a 3x8 single story extension on our house, but ultimately I don't think we'll get that much back from it come sale time, as the house is pretty much at the price ceiling for the area we're in as it is.
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Yeah, if you wanna get work done, do it because you'll be there long term so it benefits you directly for what you want.

If you're doing work to increase the value of the house come sale time... You have to be a little bit more thorough with your projections.
 
Had an offer for 2k over our asking price from a first time buyer. We'd be happy to go with that, but have a few more viewings on scheduled for Wednesday. Think we'll make the call on Wednesday..
 
After 9am deadline we ended up having 3 serious bids. We ended up going with bid for 421k which is higher than last offer that fell through. Young Asian couple that have viewed our property twice, they are renting at the moment close by. Fingers crossed this all goes smoothly this time around.
 
they'll get a reality check on value, when place has been on the market for several months ... and Rishi's held the election because the interest rates won't be dropping ;

stagnation in N. Cambridgeshire anyway, mortgage adviser I know, down pub, wasn't continually on the phone or texting the Genz/millenials who don't like speaking on the phone.
 
jpaul said:
they'll get a reality check on value, when place has been on the market for several months ... and Rishi's held the election because the interest rates won't be dropping ;

stagnation in N. Cambridgeshire anyway, mortgage adviser I know, down pub, wasn't continually on the phone or texting the Genz/millenials who don't like speaking on the phone.
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I agree. We negotiated it down by £80k and the valuation came back at an additional £30k less.

Here is a breakdown on their spend, again, this was a 5 year house/plan for them but they decided to list after 10 months (which was/is a new build - still in its defect period):
* Playroom/Office - £10,124
* Bed 2 - £6715
* Bed 3 - £6370
* Bed 4 - £6648
* Dressing Room - £16,827
* Curtains and Blinds - £14,600
* Panelling prep and painting whole house - £3,800
* Panelling - £5,500
* Garden - Planting trees & Plants - Adding Patio and Paths - Levelling land, good top soil and grass etc - £6,600
* Garage - lighting and boarding - £800
* Lighting in house - £2,367
* Alarm system - £936
* Radiator covers - £420
This comes to around £80k+

Then the cinema room £13,600 and the climbing frame cost £11,700 from Discovery Timber Play Ltd - which they are "happy" to leave.
 
Chris344 said:
I agree. We negotiated it down by £80k and the valuation came back at an additional £30k less.

Here is a breakdown on their spend, again, this was a 5 year house/plan for them but they decided to list after 10 months (which was/is a new build - still in its defect period):
* Playroom/Office - £10,124
* Bed 2 - £6715
* Bed 3 - £6370
* Bed 4 - £6648
* Dressing Room - £16,827
* Curtains and Blinds - £14,600
* Panelling prep and painting whole house - £3,800
* Panelling - £5,500
* Garden - Planting trees & Plants - Adding Patio and Paths - Levelling land, good top soil and grass etc - £6,600
* Garage - lighting and boarding - £800
* Lighting in house - £2,367
* Alarm system - £936
* Radiator covers - £420
This comes to around £80k+

Then the cinema room £13,600 and the climbing frame cost £11,700 from Discovery Timber Play Ltd - which they are "happy" to leave.
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14k on curtains and blinds feels a little excessive...

I've never sold a house and created a breakdown of how much we spent on each room to justify the price. At no point would anyone care how much we spent on the radiators, painting the walls, putting curtains and blinds up or 'planting plants in the garden'. Madness.
 
t2na said:
14k on curtains and blinds feels a little excessive...

I've never sold a house and created a breakdown of how much we spent on each room to justify the price. At no point would anyone care how much we spent on the radiators, painting the walls, putting curtains and blinds up or 'planting plants in the garden'. Madness.
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Agreed however, we did request the breakdown from the vendors. We are happy to pay the valuation price, irrespective of what has been spent, that's not our problem and like I said above, we would need to convert that £17k dressing room back to a functional bedroom.
 
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Chris344 said:
Agreed however, we did request the breakdown from the vendors. We are happy to pay the valuation price, irrespective of what has been spent, that's not our problem and like I said above, we would need to convert that £17k dressing room back to a functional bedroom.
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Yeah, I get that - still find it bonkers that they managed to spend s 31k on just a dressing room and curtains/blinds.
 
Chris344 said:
I agree. We negotiated it down by £80k and the valuation came back at an additional £30k less.

Here is a breakdown on their spend, again, this was a 5 year house/plan for them but they decided to list after 10 months (which was/is a new build - still in its defect period):
* Playroom/Office - £10,124
* Bed 2 - £6715
* Bed 3 - £6370
* Bed 4 - £6648
* Dressing Room - £16,827
* Curtains and Blinds - £14,600
* Panelling prep and painting whole house - £3,800
* Panelling - £5,500
* Garden - Planting trees & Plants - Adding Patio and Paths - Levelling land, good top soil and grass etc - £6,600
* Garage - lighting and boarding - £800
* Lighting in house - £2,367
* Alarm system - £936
* Radiator covers - £420
This comes to around £80k+

Then the cinema room £13,600 and the climbing frame cost £11,700 from Discovery Timber Play Ltd - which they are "happy" to leave.
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I want to see a photo of this climbing frame a cinima room...
Sounds like a nice house to be honest.
 
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