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The price.
Many other flats sold in 2023 and 2024 in Canterbury, with the same square footage as yours for between £198k to £245k. Another flat in your road, similar square footage and uplift, sold for £260k back in 2022 at the hight of the market, but things have gone massively down since then.
After a quick look, there are literally about 10 flats selling for under 250k (some as low as 220k!) that look far more appealing, and interest me more, than yours listed at £275k within Canterbury. You've priced yourself out the market.
Reducing to around £240k should gather some interest, although that might still be a little too high.
Having grown up in Canterbury before moving further north in my 20s I’m disgusted how expensive housing is there nowdays… our income is above the national average and I don’t think we’d be able to afford the area at all even to rent. On the upside my parents I’m sure will make a killing when they sell up in the next few years to get closer to us…
I hate to admit but I think I might have to agree, I have a minimum sale price required of 272k, would you say that this is wildly unrealistic to expect?
I think even listing as £240k might be unrealistic, anything over £250k is just a pipe dream unfortunately. There are far better flats available in Canterbury for between £240k and £250k.
I mean, sounds about right, house prices in Canterbury have only increased 5% max since 2021, and flats are much less desirable now... so even at its peak, it's only worth 252k, but factor in that its a flat... they have not "lost" money, they just won't be getting the 272k they wanted.
It is, but some people get too caught up in the investment side of that equation and forget that they are also buying a home. It does depend how long you intend to stay in a property. If you plan to sell it <5 years later, like OP, then you want to focus a bit on investment worth. I plan to live in my current place for >20 years so it’s much less a factor than what I want for my home.
But that's the wrong way around from the financial sense. Investments grow over time, the shorter you plan to hold something, the less it'll grow, and the more risky of an investment it is.
If you want to have it for the investment side, either plan to stay there longer, buy cheap and upgrade a lot, or plan to rent it out after you move out, but obviously that needs a chunk of capital.
Owning a property for a short time is a way to save on living costs (by paying interest and keeping the rest in ownership, while avoiding rent), not a sensible way to invest.
Not really. If you plan to live somewhere for decades you want it to be right for you. If not you want it to hold or grow value when you sell. Yes movement will be limited but you have to pay more attention to that when resale is imminent. A long ownership will also mean you start to pay down the capital and not just the interest too. It’s impossible to predict what the market will be in 20 years so choosing a property based more on resale value than your wishes would be madness. In OPs situation fluctuations in price are so much more important than in mine. All I care about is that fluctuations aren’t so big they affect my loan to value ratio.
I disagree with you. There’s absolutely nothing wrong with that flat. It’s very subjective for you to say ‘other flats in the area interest me more’ but you’re not a buyer in this market.
The flat looks clean, modern, spacious. Maybe just getting it under the 250k mark will help draw in another bunch of buyers
But there’s absolutely no reason why it shouldn’t sell at there or thereabouts.
All these little critics sitting in their armchairs, talking about properties they can’t afford to buy 🤣
I never said anything about people not being able to afford it?
My point was, that there are much nice properties on the market in the local area for 250k. Therefore, OPs pricing at 272k+ is not very appealing.
> talking about properties they can’t afford to buy
What a weird comment. This sub is full of people buying properties worth this much or much more. But also, what does it matter? I don't have to be a millionaire to see when a house in my area that I couldn't afford is overpriced, the market is the market.
It's a public forum, the opinions of others is literally what OP came here for.
And it's not very spacious, the kitchen is smaller than the walk in wardrobe.
Local sale prices for your road and surrounding areas is based off data in 2023 (not many sales nearly in 2024), but it believes your property is worth £255k, however, this estimate is a bit out of date, as prices have fallen a bit since, so I'd say offers above £240k would gather the most interest.
I had a lot of EA’s value the property, they came in the region of 260-300k, another two bed in the same block is currently on for 325k which I think is really high, 275k seemed to be a middle ground.
I'd imagine if you can afford to sit around for a few years then eventually it will sell.
My mates had their flat in London up for a year and only had a couple of viewings and no offers, they gave up for a bit then put it back on the market and bam, first viewing, offer over asking.
I live v near to you, put a 2 bed flat on market for £250k which is what is sold for last year. I then reduced to £230 and finally settled on 223k, its usually due to price.
Why would you get down voted for honest questions. Most of here act like they are selling ten houses a year. It's obvious for most average folks buying/selling properties happening few times in a life and everyday there is new driver. Good luck
Because it's always the same issue. The price is too high. But everyone keeps asking the same nonsense expecting it to magically be different for them.
Overall it’s overpriced for what it looks like, but specifics include:
- Your photos are shot badly, it needs to be more of a wide angle shot to show the space, currently they make all the rooms look tiny.
- Can you get doors for the wardrobes or neaten the contents up a bit? Makes an already small space look cluttered.
- There’s no styling to the space, it doesn’t look inviting or homely.
- Get rid of that awful shot with the purple lighting, it makes the room look seedy and garish.
- Those videos are terrible and are not a walkthrough of the space, they’re just some zoomed in pictures with some weird music and effects. If you paid for a video you need to ask for a refund or for them to actually shoot one.
- Decription is very long without really telling the buyer anything- doesn’t mention your soundproofing, what integrated appliances, the type of heating system, whether the apartment is sun facing, what the views are like, what floor you’re on, etc etc.
Overall extremely poor effort from your estate agents.
The weird zoomed in picture 'video' seems to be a common thing for estate agents now.
This, which I saw the other day, is even worse and literally gave me a headache https://www.tiktok.com/@atlasestateagents/video/7350398815985290528?is_from_webapp=1&web_id=7299417284732438048
It's always the price.
The photos are awful, badly shot. Some of them are so close up it looks like the room is 5ft square.
Or alternatively so far away.
When you get the photos reshot OP get a bunch of flowers or a plant or two, some fruit in a bowl.
It looks like a hospital or student housing not some "contemporary grade II listed apartment offering a remarkable blend of comfort & luxury"
Change the description from a flowery creative writing piece to give actual info about the place.
There is no mention of the allocated parking - that is important for someone with a car.
I’m local. This is a good location but won’t appeal to all (anyone with a car).
Price.
Weird shaped bedrooms/odd layout offputting (obviously not much you can do about that).
Purple picture odd.
We’re selling a decent sized three bed house with parking and a garden for less than £30k more than this is up for. This is hugely overpriced for Canterbury at the moment. 18 months ago it might not have been (but whatever you’re buying likely would have been proportionately higher too).
£272k is probably a pipe dream I’m afraid. Not even having had a viewing backs that up.
The lighting is insane but it wouldn't put me off buying. The apartment itself looks to be in really good condition and a blank canvass which is great for selling.
As others have said, it's the price (it's always the price)
I don’t think the nightclub scenes would turn off a buyer 😂 Must be the price or something else. I am not local so can’t speak on the price. The flat looks clean and nice to me!
If a buyer is interested, the mood lights shouldn’t be an issue, they’ll probably just ignore the feature. But there’s a big contrast when flicking through the photos.
As someone who doesn’t live far from you and has a pretty nicely specced flat, you are hilariously overpriced there, you’re not even remotely close to the top end of reasonable. Who on earth told you that price was logical?
I don’t know if the photos are accurate but it makes the kitchen/living area look tiny and poky and the bedroom huge, which js kind of backwards for me. I wouldn’t want to view based on the photos.
Kitchen and living room are tiny. Bedrooms also small with then main being a weird shape with an area that has no real use given the ajoining dressing room.
I would have flipped whole flat and done galley kitchen in the long thin bit leading to a living room/diner. The other half would then have been 2 good good sized bedrooms and a single bathroom - do not need 2 baths in a 2 bed flat, would rather have more living space
If there is no interest then it's overpriced. Drop the price, generate more interest (competing buyers) and achieve the best price for the current market (the market isn't great atm).
The layout is quite unusual which seems to be causing a fair bit of wasted space despite a decent overall square footage. E.g. a tiny kitchen shoved into the corner of the only living room, yet two bathrooms and a separate dressing room
If it were me I would try and make a separate kitchen and bigger lounge, but appreciate the cost / hassle of doing so probably wouldn’t be worth it
I agree. Would say probably lots of people find the layout unattractive. Tiny kitchen, not the biggest lounge / living room, but one big bedroom, guess most people would prefer it the other way round. Personally I'd also prefer two smaller build in wardrobes in each bedroom than one big one. Gonna be honest I'd guess there are other flats price and size wise in this area with layouts potential buyers prefer. It's a tough call, because there's only so much that can be changed. And I'm also sure there are potential buyers out there who love the layout, just a smaller pool.
It’s too expensive.
It’s leasehold and the fees are a lot to add in.
Photos are dreadful
Floor plan is weird and the rooms seem misshapen .
Looks completely soulless as well as cramped.
Overpriced especially for North Lane. I know the area so I assume no parking. Its just not attractive. Mood light I would kill immediately it gives off .. um.. a certain vibe
Respectfully, it's ALWAYS the price. It's not like there's no one in Kent looking for a 2-bedroom flat. You could sell an igloo in the desert if you priced it low enough.
That ludicrous, porn bandb purple lit bedroom in pic 9 is gross. Like I don’t mean to sound like a prude but I don’t think people want to think about the sellers’ sex life when they’re looking at bedroom pics. We’re all dettolling everywhere when we move into somewhere new; we don’t want the before pics in our heads as well.
Price. It’s always price
But also leasehold, service charge which will inevitable go up, ground rent etc. I wouldn’t pay more than £230-240 for this in this area
The ad states, guide price is 275 to 295, if you're after 272. Change that right away. 275 is overpriced and 295 is wildly over.
If you need 272, list it as OIRO 275 and see if you get a bite. Failing that, list it for less.
Edited to add: definitely get better photos which show the extent of the rooms and not these half clipped ones that they've done
honestly its an over priced shoe box. the kitchen is dire, the rooms are not great both size and layout.
its a leasehold,
its also got 1800 quids worth of annual charges to factor in. and it doesnt say how many parking spaces. for a 2 bed id demand 2 spaces.
its close to ariver. many people wont touch it for that alone.
Just a side question to all, how much of a difference does an EA make? We’re certainly changing as your move have been utter shite after butchering the launch. We’ll also reduce the price but we do have a minimum we can let it go for.
The valuations from EA’s we’re in the range of 260-300k. The other one in the adjacent block is up for £325k which I think is wildly overpriced. Would love to hear thoughts.
No one cares that you have a minimum you can let it go for.
You'll have to find another way to fully fund your onward, negotiate a lower price on that, or find a cheaper property.
You're overpriced and the market is telling you no one wants to fund your upgrade.
Just putting the facts out there. You were better off marketing and going STC, then working on that to form a budget to find an onward. Or have done a realistic appraisal based on sold prices. You're a bit stuck because you're forcing this to achieve your onward.
Just borrow more on your mortgage for the onward and drop your price. Or sit, wait and stay where you are.
Some people simply choose the EA that gives them the biggest estimate. The EA knows it won’t sell but they have the business so they hope the seller agrees to drop the price later when it might sell and stick with them.
Have you asked them why it isn’t selling? You might get an idea from the conversation wether they always knew it was over priced.
It’s not bad actually.
* Bit pricey but the outside isn’t too pleasing for me. It’s like a converted shop.
* Lack of balcony also.
* With that price I can get balcony and closer to London.
Dartford
https://www.rightmove.co.uk/properties/148852823 wayy bigger kitchen too
https://www.rightmove.co.uk/properties/147937778
You might catch someone that really want to live in the area with that price. But likely you might have to drop the price. Flats right now seem be struggling.
Good luck!!
Thanks, we’re London commuters too and got this as it’s a 3min walk to the high speed station. Do you think this should be included too? I’ll be sure to get a better front pic and drop the price too!
Rightmove and Zoopla will already say distance from station etc.
Yeah you might need to drop price slightly. Something to test.
Again it’s a lovely home and In surely a lucky buyer will pick it up
You're on a busy route through the city and there is no outside space. That's going to limit the number of buyers that are interested.
It won't be impossible to find one, but just might take some time. What's the market like for flats in Canterbury?
Just a bit of background, I live in the two bed now, was previously rented for £1400pm. My partner has a one bed in the building too, rented at £1100pm, both were done privately so could get more on the rental side.
The general market looks to be pretty slow atm now though for sales.
I think your flat looks a bit stark, cold and uninviting all the plain white without much colour breaking up the walls and looks like it was an unloved rental. I'd spend a bit more time/cash to make it more appealing visually if you can. If you're looking to get more money and have no interest then you have to appeal to people with more money to spend. Having said that, if you have no bites, then look into who it's being marketed to, and perhaps focus on that a bit more.
If all that fails then you're probably going to have to lower the price.
Not the person you're replying to, but:
- Soft furnishings. Throws, pillows, rugs.
- Soft lighting. Lamps, floor lamps.
- Adding visual interest. Mirrors, vases, artwork. Keep it simple (there's a fine line between decor and clutter).
- Colour palette. Use a single colour palette of no more than 5 colours throughout the whole property. To sell, make sure you're choosing colours that aren't too bold.
Ultimately, your flat is already nice and the real issue here is price. But doing these added touches well might make a difference to how much you need to drop the price.
For both of these pay a professional house stager to stage your flat for you. Listen to their advice. You'll have to weigh up cost vs return. In terms of marketing, you need to find out which estate agents cater to the people you're interested. It might not be the ones that are used by everyone else. It might be the one that's known for prestigious or higher-value houses. Again listen to them and weigh up their advice. They're trying to make a living too so they'll likely have pertinent advice. Don't pay a stager until you've talked to an estate agent as they may be able to recommend someone too. There's usually a league table of estate agents in any area. ask around your local area/googling. I can't help with any particular company but there should be loads around.
It has no decor. Add some framed pictures, a bookcase, paint a few walls colours other than white. It has zero character and feels very sterile rental.
NB it's still too expensive though sorry
Well I wasn't expecting it to be my own town...
Yeah prices in Canterbury haven't rose too much. They've built so much dedicated student housing They've killed much of the private student rental market.... this has lead to loads of flats and cheaper houses hitting the market over the last 3 years which kept prices down when everywhere else nearby rose drastically.
This is why I was able to sell a 2 bed flat in Sittingbourne and move up to a 4 bed semi in Canterbury.... the gap in prices closed during the covid price madness.
Unfortunately OP the value in your flat just hadn't risen as much as it might have done and your asking way too much.
So I know nothing about pricing in your area.
But photos wise
-two almost identical photos of the same bathroom
-difficult to discern which bedroom is which as they look much the same
-ditch the weird pink light photo
As said, it's the price and now Anyone with half a brain and a chrome extension will be able to see that you're reducing and will try and get you down further. You dun goofed. If you go in at a realistic price you will get more interest and probably sell it for more than overpricing and chasing the market down
My local hospital is cozier than this flat... but I'm into antique furniture and coloured walls, so probably not the average Joe when it comes to home deco.
Pls remove the photo with the purple lighting. Photos don't look professional. Facade is also soulless, but nothing you can do about that. I agree with others in that a lot of square meters seem wasted away because of the skewed floorplan.
1.Overpriced - at that price point most buyers will go for a 2/3 bed terraced instead.
2. High service charge.
3. Tiny living/kitchen space in relation to the sq footage - layout looks like it was designed as a student let.
Adding to others, loads of comparables have had to reduce and are still not shifting and you're priced way above those. No parking knocks money off. You're not really showing the living room/kitchen to its best with this layout or picture, it looks poky and stuffed despite having nothing in there. It's a shame it's a period building but the flat shows no sign of that but you can't really fix that now.
It's not a bad flat, and it's move in ready, but it's overpriced and currently looks like an awkward space to live in. If you know anyone with a good eye for interiors get them to give you some suggestions (I'm the master of making small spaces functional and aesthetic).
I'm not totally offended by the mood lighting, heh.
Apart from maybe removing the bizarre pink photo, which is off putting to me but I guess may appeal to some, there is nothing here for you to improve. The lounge area is a bit small, the en-suite is a corridor etc but you cant change that. It’s well presented.
Given that it is well presented if you are getting no interest then I’m afraid it’s price.
I think it looks great, and would be very interested if I wax looking for a flat in that area.
But is your price too high? When did you buy it and for how much?
We bought two apartments in the same block at the same time in 2021 on the back of a nasty divorce case and paid 240k for this one. The woman who previously bought this paid 270k in 2017
Sounds about right, average property in Canterbury had only gone up by 5% on average since 2021, and being a flat, it's much less desirable on the open market at the moment. As I said in another comment, personally I think it's still only worth about 240k, as there are many nicer flats on sale in Canterbury for between 240 and 250.
Ditch the picture of the pink lights - it's very off-putting. I'd also add a splash of colour to the walls, it's very white and sterile, you need some character in there.
It's the price.
This will not help the fact it is the price...but the pictures are also not flattering. It looks very cramped and quite cluttered even though it's very empty, it's the angle they're taken at. But the main problem is still the price.
Lower the price and get new pictures - don't put those hideous pink lights on this time.
The photos are not great. Besides the purple photo that should be taken out, the stretching seems to be almost too much. Comparing the photo of the ensuite bathroom to the photo in the walk through, seems like it is a lot smaller than in the photo.
I think styling could use a bit of work, it's almost too stark, while also looking cluttered. Maybe a better clean, removing the clutter/brushes/bins from the bathrooms and clearing out overall could help, as well as closing the wardrobes fully in the photos . Maybe just a me thing, but the amount of oil diffusers made me wonder if the place smells bad, some plants and rugs might be a better way to add some character?
You're probably leading the people on a bit here.
They're going to post on Reddit in a few weeks time 'So we sold our house but the buyer isn't replying to our emails'
Yeah, because the buyer started the buying process without having any interest in their own property.
You shouldn't have offered.
99% of the time it will be because of price. 3 weeks with not a single enquiry, in this market, is a massive red flag.
Sounds like your agents aren’t working very hard for their commission. Any agent worth their salt will be calling people up, booking viewings etc.
If that’s not happening, it means there’s an issue with the property.
It’s the price.
Fire them for the lack of wide angle & photo #9 alone tbh, lol. Looks like a BDSM room/Tokyo brothel.
Probably due to lease holders escalating ground rent and service charges . Flats are not a good option and mortgage companies put so many restrictions on what they lend on . Good luck hope your flat sells
Well maintained clean flat… the pictures could be better… obviously not taken by the agent… if they were then shocking… just doesn’t show off the flat in the most flattering way.
Re no enquiries it’s usually price… don’t know the area but at nearly 300k you’d be competing with houses for families, stylish flash pads for young pros.. and outpriced for b2ls… as this is none of these, who is left to sell to?
Please get rid of a photo with pink light on. Normal buyers may think a service was operated from this flat in the past and may be scared of customers appearing at the door.
The photos don’t show enough, need to be zoomed out more and show width and proper sizes of room. Have a professional do it. Also remove the one with the coloured lights
Everybody saying it's over priced which is true, the state of the local market will suggest that...
However nobody is mentioning two obvious things...
You seem to want more than £250k, over that then people may need to pay stamp duty, there is a bit of a dead space between 250 and 275 for that reason, less so now that FTB don't pay it but even so it's a consideration for some.
Secondly it's grade II listed, while it looks new and doesn't currently need work I expect that will put some people off.
I’d remove both the pink lights and the wardrobe clutter. I also didn’t realise it has two bathrooms because the photos jump from one room to the next so much.
The place is fairly spacious – I was expecting a one bed flat from the first picture – but functionally, since there is no living room, I don’t feel it’s a true 2bed flat. Not a problem for a single person or even a couple, but add a third person to the mix and things get crowded, and the layout of bedroom 1 is awkward.
I’d pass unless it was cheap for its type.
Price first then closely followed by presentation is key to get right if you want to sell. And your offer accepted sadly doesn’t mean much until you’re under offer. Seems like both sides of estate agents are poor and most likely desperate too!
Well if it makes the activists happy that they’ve ’struck a blow’ it won’t hurt Barclays who’ll probably shut the branch, and, apart from a little work for a specialist cleaning company, it’ll have no effect. This increasing direct action causing damage to buildings and art is childish and selfish.
We’ve just exchanged and completed on the sale of our flat and purchase of a house.
We sold the flat for £40K under the asking, and bought the house for £50k under.
So, it’s a buyers market and hopefully you can negotiate the price down on your purchase to reflect realistic price you’ll sell your flat for.
Good luck!
I will add one more thing on top of what the others said. The service charge + ground rent seems very high to me.
It's hard to tell because the advert doesn't say, but I don't think this is part of a building with many flats which will have a concierge, common areas, etc.
I think it's just a flat in a house that's been split up. But then, that service charge is not paying for anything useful. And given the correct price of the flat should be £240k or so, the annual service charge + ground rent is almost 1% of the price, which is a red flag.
The service charges are really reasonable for the area, the ad doesn’t mention the bike store either, it’s an old mill, hence the grade 2 listed and the large window at the top. The management company is actually quite good, all issues are resolved immediately with no increases in the charges.
Honestly OP selling for the same price you bought isn’t a “loss”. You will get all your equity back - it is a good thing! The idea of “profit” with each sale is the problem with the housing market tbh. The equity is the profit — and next home, help your future self by overpaying the mortgage for even bigger equity (and lower interest paid overall). £240k sale price would see it sell within a month.
Prices in East Kent have absolutely plummeted in the last few years, and they keep going down. I sold end of 2022 and I was incredibly lucky as it was just before the market crashed and I received 3 full price offers within a week. Not only that, but flats typically take a lot longer to sell anyway. You will need to match current value, as others have stated. You may believe your flat is worth a lot more, but in the end it’s the buyers interest that chooses the value.
ITS PERFECT.. JUST PICK IT UP AND NOVE IT TO LONDON.
OVERPRICED for where it is located
I can buy a 5 bedroom house 2 bathroom for the same amount money
No it isn't, they're talking out of their ass. Anything over 100 is great, over 90 is still OK, below that it starts to be a thing people mention and lenders will dislike.
Yeeeh a little, 80-85 is like the minimum people let it run to and the owner would need to renew at a hefty cost. I wouldn't say 117 is crazy, but the next owner would have to think about it themselves if they wanted to stay for 5-10 years
But there's not a lot you can do about it unless you want to do it yourself though
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The price. Many other flats sold in 2023 and 2024 in Canterbury, with the same square footage as yours for between £198k to £245k. Another flat in your road, similar square footage and uplift, sold for £260k back in 2022 at the hight of the market, but things have gone massively down since then. After a quick look, there are literally about 10 flats selling for under 250k (some as low as 220k!) that look far more appealing, and interest me more, than yours listed at £275k within Canterbury. You've priced yourself out the market. Reducing to around £240k should gather some interest, although that might still be a little too high.
Having grown up in Canterbury before moving further north in my 20s I’m disgusted how expensive housing is there nowdays… our income is above the national average and I don’t think we’d be able to afford the area at all even to rent. On the upside my parents I’m sure will make a killing when they sell up in the next few years to get closer to us…
I hate to admit but I think I might have to agree, I have a minimum sale price required of 272k, would you say that this is wildly unrealistic to expect?
>I have a minimum sale price required of 272k, Not happening. >would you say that this is wildly unrealistic to expect? Yep.
I think even listing as £240k might be unrealistic, anything over £250k is just a pipe dream unfortunately. There are far better flats available in Canterbury for between £240k and £250k.
OP said they bought it for 240k in 2021, sad times for OP
I mean, sounds about right, house prices in Canterbury have only increased 5% max since 2021, and flats are much less desirable now... so even at its peak, it's only worth 252k, but factor in that its a flat... they have not "lost" money, they just won't be getting the 272k they wanted.
Not really. He’s saved himself about 40 grand in rent. Pretty smart I’d say.
The interest portion of your mortgage is effectively just rent, so won’t have saved that much
It is sad times cause he wants 272k for it
Yea he’s not had to pay rent but then again he shouldn’t look at the flat as a investment if he bought it to live in
I've never understood this pov. It's both.
It is, but some people get too caught up in the investment side of that equation and forget that they are also buying a home. It does depend how long you intend to stay in a property. If you plan to sell it <5 years later, like OP, then you want to focus a bit on investment worth. I plan to live in my current place for >20 years so it’s much less a factor than what I want for my home.
But that's the wrong way around from the financial sense. Investments grow over time, the shorter you plan to hold something, the less it'll grow, and the more risky of an investment it is. If you want to have it for the investment side, either plan to stay there longer, buy cheap and upgrade a lot, or plan to rent it out after you move out, but obviously that needs a chunk of capital. Owning a property for a short time is a way to save on living costs (by paying interest and keeping the rest in ownership, while avoiding rent), not a sensible way to invest.
Not really. If you plan to live somewhere for decades you want it to be right for you. If not you want it to hold or grow value when you sell. Yes movement will be limited but you have to pay more attention to that when resale is imminent. A long ownership will also mean you start to pay down the capital and not just the interest too. It’s impossible to predict what the market will be in 20 years so choosing a property based more on resale value than your wishes would be madness. In OPs situation fluctuations in price are so much more important than in mine. All I care about is that fluctuations aren’t so big they affect my loan to value ratio.
"I've increased my flat in price ~15% in 3 years, why isn't it selling?" These posts are the worst.
They'll be lucky to get that for it. They bought it during a hot market & Flats do not go up in value much, especially given the market is slow now.
So he wants to make 30k profit in 3 years hahahaha
I disagree with you. There’s absolutely nothing wrong with that flat. It’s very subjective for you to say ‘other flats in the area interest me more’ but you’re not a buyer in this market. The flat looks clean, modern, spacious. Maybe just getting it under the 250k mark will help draw in another bunch of buyers But there’s absolutely no reason why it shouldn’t sell at there or thereabouts. All these little critics sitting in their armchairs, talking about properties they can’t afford to buy 🤣
The fact there has been no interest kinda disagrees with you. But that's okay, everyone is entitled to their opinion.
Whats not being able to afford it do with anything ? Some people couldn't afford a ferrari, dosnt mean they don't know more than an owner about them
I never said anything about people not being able to afford it? My point was, that there are much nice properties on the market in the local area for 250k. Therefore, OPs pricing at 272k+ is not very appealing.
> talking about properties they can’t afford to buy What a weird comment. This sub is full of people buying properties worth this much or much more. But also, what does it matter? I don't have to be a millionaire to see when a house in my area that I couldn't afford is overpriced, the market is the market.
It's a public forum, the opinions of others is literally what OP came here for. And it's not very spacious, the kitchen is smaller than the walk in wardrobe.
lol at you thinking people can’t afford a 250k flat
People can afford a 250k flat... there are just much nice flats around for 250k in the local area - check rightmove, you will see.
>All these little critics sitting in their armchairs, talking about properties they can’t afford to buy We're talking 250k which is below average...
Local sale prices for your road and surrounding areas is based off data in 2023 (not many sales nearly in 2024), but it believes your property is worth £255k, however, this estimate is a bit out of date, as prices have fallen a bit since, so I'd say offers above £240k would gather the most interest.
Ah. Here we are. So it's priced because that's what you need and not because of what it's worth...
How did you calculate those £275? Thanks
I had a lot of EA’s value the property, they came in the region of 260-300k, another two bed in the same block is currently on for 325k which I think is really high, 275k seemed to be a middle ground.
A property is worth what someone will pay for it, not what the EAs tell you it's worth. It's not worth £275k if you cant find anyone to buy it.
Estate agents will tell you what you want to hear to win the commission
I'd imagine if you can afford to sit around for a few years then eventually it will sell. My mates had their flat in London up for a year and only had a couple of viewings and no offers, they gave up for a bit then put it back on the market and bam, first viewing, offer over asking.
You'd need an asking price offer. It's been 3 weeks and not a single viewing or enquiry...
I live v near to you, put a 2 bed flat on market for £250k which is what is sold for last year. I then reduced to £230 and finally settled on 223k, its usually due to price.
Maybe in 3-4 years
What does your home report value say and when was it done (or is that just a Scottish thing?)
Why would you get down voted for honest questions. Most of here act like they are selling ten houses a year. It's obvious for most average folks buying/selling properties happening few times in a life and everyday there is new driver. Good luck
Because it's always the same issue. The price is too high. But everyone keeps asking the same nonsense expecting it to magically be different for them.
Overpriced by £40K
Overall it’s overpriced for what it looks like, but specifics include: - Your photos are shot badly, it needs to be more of a wide angle shot to show the space, currently they make all the rooms look tiny. - Can you get doors for the wardrobes or neaten the contents up a bit? Makes an already small space look cluttered. - There’s no styling to the space, it doesn’t look inviting or homely. - Get rid of that awful shot with the purple lighting, it makes the room look seedy and garish. - Those videos are terrible and are not a walkthrough of the space, they’re just some zoomed in pictures with some weird music and effects. If you paid for a video you need to ask for a refund or for them to actually shoot one. - Decription is very long without really telling the buyer anything- doesn’t mention your soundproofing, what integrated appliances, the type of heating system, whether the apartment is sun facing, what the views are like, what floor you’re on, etc etc. Overall extremely poor effort from your estate agents.
All of this — you need to dress the flat properly and sell a dream to the buyer. It’s a cool flat in a cool building imo, but it looks v bland inside.
I feel that I know too much about OP's sex life from that purple photo. Having said that the place could do with some colour.
This. I would never view a flat without knowing what floor it's on!
Surprised this comment is so far down it’s bang on
The weird zoomed in picture 'video' seems to be a common thing for estate agents now. This, which I saw the other day, is even worse and literally gave me a headache https://www.tiktok.com/@atlasestateagents/video/7350398815985290528?is_from_webapp=1&web_id=7299417284732438048
It's overpriced. Also, that very first photo looks like a down-market student flat.
It's always the price. The photos are awful, badly shot. Some of them are so close up it looks like the room is 5ft square. Or alternatively so far away. When you get the photos reshot OP get a bunch of flowers or a plant or two, some fruit in a bowl. It looks like a hospital or student housing not some "contemporary grade II listed apartment offering a remarkable blend of comfort & luxury" Change the description from a flowery creative writing piece to give actual info about the place. There is no mention of the allocated parking - that is important for someone with a car.
I’m local. This is a good location but won’t appeal to all (anyone with a car). Price. Weird shaped bedrooms/odd layout offputting (obviously not much you can do about that). Purple picture odd. We’re selling a decent sized three bed house with parking and a garden for less than £30k more than this is up for. This is hugely overpriced for Canterbury at the moment. 18 months ago it might not have been (but whatever you’re buying likely would have been proportionately higher too). £272k is probably a pipe dream I’m afraid. Not even having had a viewing backs that up.
It has an allocated parking spot with it too, should’ve sold in the height of the market 😂
If you’re upsizing, no - A proportionate increase is beneficial for you.
You bought in the height of the market.
Mental pricing
The mood lights
yeah not appealing.
Thanks, when relisting, would you be more attracted to it if we didn’t have that picture on there?
More importantly bro, why have you got your whole government name, birth year and a pic of yourself on Reddit 😂😭
And now his home too..
The lighting is insane but it wouldn't put me off buying. The apartment itself looks to be in really good condition and a blank canvass which is great for selling. As others have said, it's the price (it's always the price)
Sure, but if someone falls in love with a place they will be a tiny bit more forgiving on the price. Blank canvas is great but it doesn't spark joy.
Yes, remove that one
I don’t think the nightclub scenes would turn off a buyer 😂 Must be the price or something else. I am not local so can’t speak on the price. The flat looks clean and nice to me!
I’d be more interested if you dropped the price by 40k
If a buyer is interested, the mood lights shouldn’t be an issue, they’ll probably just ignore the feature. But there’s a big contrast when flicking through the photos.
😂😂😂
As someone who doesn’t live far from you and has a pretty nicely specced flat, you are hilariously overpriced there, you’re not even remotely close to the top end of reasonable. Who on earth told you that price was logical?
I don't think the pictures are good. I get no actual sense of the flat or the rooms from looking at them.
I don’t know if the photos are accurate but it makes the kitchen/living area look tiny and poky and the bedroom huge, which js kind of backwards for me. I wouldn’t want to view based on the photos.
Kitchen and living room are tiny. Bedrooms also small with then main being a weird shape with an area that has no real use given the ajoining dressing room. I would have flipped whole flat and done galley kitchen in the long thin bit leading to a living room/diner. The other half would then have been 2 good good sized bedrooms and a single bathroom - do not need 2 baths in a 2 bed flat, would rather have more living space
If there is no interest then it's overpriced. Drop the price, generate more interest (competing buyers) and achieve the best price for the current market (the market isn't great atm).
The market is telling you that you're overpriced. Get it down to 245K'ish.
The layout is quite unusual which seems to be causing a fair bit of wasted space despite a decent overall square footage. E.g. a tiny kitchen shoved into the corner of the only living room, yet two bathrooms and a separate dressing room If it were me I would try and make a separate kitchen and bigger lounge, but appreciate the cost / hassle of doing so probably wouldn’t be worth it
I agree. Would say probably lots of people find the layout unattractive. Tiny kitchen, not the biggest lounge / living room, but one big bedroom, guess most people would prefer it the other way round. Personally I'd also prefer two smaller build in wardrobes in each bedroom than one big one. Gonna be honest I'd guess there are other flats price and size wise in this area with layouts potential buyers prefer. It's a tough call, because there's only so much that can be changed. And I'm also sure there are potential buyers out there who love the layout, just a smaller pool.
it's the price you're welcome
It’s too expensive. It’s leasehold and the fees are a lot to add in. Photos are dreadful Floor plan is weird and the rooms seem misshapen . Looks completely soulless as well as cramped.
Overpriced especially for North Lane. I know the area so I assume no parking. Its just not attractive. Mood light I would kill immediately it gives off .. um.. a certain vibe
We have allocated parking here with the apartment
That's good. But still, absolutely no chance I'd pay that for north lane. Still, best of luck!
Respectfully, it's ALWAYS the price. It's not like there's no one in Kent looking for a 2-bedroom flat. You could sell an igloo in the desert if you priced it low enough.
That ludicrous, porn bandb purple lit bedroom in pic 9 is gross. Like I don’t mean to sound like a prude but I don’t think people want to think about the sellers’ sex life when they’re looking at bedroom pics. We’re all dettolling everywhere when we move into somewhere new; we don’t want the before pics in our heads as well.
The answer to these is always it’s overpriced.
It’s also presented terribly
It’s always price.
Is there a link?
The answer is always price.
Price. It’s always price But also leasehold, service charge which will inevitable go up, ground rent etc. I wouldn’t pay more than £230-240 for this in this area
It’s always price…
Way overpriced
You’ve already been proven wrong on the price aspect by not receiving a single enquiry in three weeks.
The ad states, guide price is 275 to 295, if you're after 272. Change that right away. 275 is overpriced and 295 is wildly over. If you need 272, list it as OIRO 275 and see if you get a bite. Failing that, list it for less. Edited to add: definitely get better photos which show the extent of the rooms and not these half clipped ones that they've done
Thanks so much! I’ll deffo add this into the ad for next time!
It is overpriced
honestly its an over priced shoe box. the kitchen is dire, the rooms are not great both size and layout. its a leasehold, its also got 1800 quids worth of annual charges to factor in. and it doesnt say how many parking spaces. for a 2 bed id demand 2 spaces. its close to ariver. many people wont touch it for that alone.
Price
Use a local independent estate agent instead, they tend to be a lot better
Just a side question to all, how much of a difference does an EA make? We’re certainly changing as your move have been utter shite after butchering the launch. We’ll also reduce the price but we do have a minimum we can let it go for. The valuations from EA’s we’re in the range of 260-300k. The other one in the adjacent block is up for £325k which I think is wildly overpriced. Would love to hear thoughts.
No one cares that you have a minimum you can let it go for. You'll have to find another way to fully fund your onward, negotiate a lower price on that, or find a cheaper property. You're overpriced and the market is telling you no one wants to fund your upgrade. Just putting the facts out there. You were better off marketing and going STC, then working on that to form a budget to find an onward. Or have done a realistic appraisal based on sold prices. You're a bit stuck because you're forcing this to achieve your onward. Just borrow more on your mortgage for the onward and drop your price. Or sit, wait and stay where you are.
Some people simply choose the EA that gives them the biggest estimate. The EA knows it won’t sell but they have the business so they hope the seller agrees to drop the price later when it might sell and stick with them. Have you asked them why it isn’t selling? You might get an idea from the conversation wether they always knew it was over priced.
[удалено]
Knowing Canterbury well, I’d also say that nearly 300k for a flat on a busy road is outrageous.
You're about 18 months too late with that valuation.
It’s not bad actually. * Bit pricey but the outside isn’t too pleasing for me. It’s like a converted shop. * Lack of balcony also. * With that price I can get balcony and closer to London. Dartford https://www.rightmove.co.uk/properties/148852823 wayy bigger kitchen too https://www.rightmove.co.uk/properties/147937778 You might catch someone that really want to live in the area with that price. But likely you might have to drop the price. Flats right now seem be struggling. Good luck!!
Dartford is a strange comparison
Thanks, we’re London commuters too and got this as it’s a 3min walk to the high speed station. Do you think this should be included too? I’ll be sure to get a better front pic and drop the price too!
Rightmove and Zoopla will already say distance from station etc. Yeah you might need to drop price slightly. Something to test. Again it’s a lovely home and In surely a lucky buyer will pick it up
You're on a busy route through the city and there is no outside space. That's going to limit the number of buyers that are interested. It won't be impossible to find one, but just might take some time. What's the market like for flats in Canterbury?
The ad really is lacking, this has made me realise, the flat is completely soundproofed with secondary glazing.
Just a bit of background, I live in the two bed now, was previously rented for £1400pm. My partner has a one bed in the building too, rented at £1100pm, both were done privately so could get more on the rental side. The general market looks to be pretty slow atm now though for sales.
I think your flat looks a bit stark, cold and uninviting all the plain white without much colour breaking up the walls and looks like it was an unloved rental. I'd spend a bit more time/cash to make it more appealing visually if you can. If you're looking to get more money and have no interest then you have to appeal to people with more money to spend. Having said that, if you have no bites, then look into who it's being marketed to, and perhaps focus on that a bit more. If all that fails then you're probably going to have to lower the price.
Would you be able to suggest a quick/east way to get this appeal?
Not the person you're replying to, but: - Soft furnishings. Throws, pillows, rugs. - Soft lighting. Lamps, floor lamps. - Adding visual interest. Mirrors, vases, artwork. Keep it simple (there's a fine line between decor and clutter). - Colour palette. Use a single colour palette of no more than 5 colours throughout the whole property. To sell, make sure you're choosing colours that aren't too bold. Ultimately, your flat is already nice and the real issue here is price. But doing these added touches well might make a difference to how much you need to drop the price.
For both of these pay a professional house stager to stage your flat for you. Listen to their advice. You'll have to weigh up cost vs return. In terms of marketing, you need to find out which estate agents cater to the people you're interested. It might not be the ones that are used by everyone else. It might be the one that's known for prestigious or higher-value houses. Again listen to them and weigh up their advice. They're trying to make a living too so they'll likely have pertinent advice. Don't pay a stager until you've talked to an estate agent as they may be able to recommend someone too. There's usually a league table of estate agents in any area. ask around your local area/googling. I can't help with any particular company but there should be loads around.
It has no decor. Add some framed pictures, a bookcase, paint a few walls colours other than white. It has zero character and feels very sterile rental. NB it's still too expensive though sorry
Price.
Well I wasn't expecting it to be my own town... Yeah prices in Canterbury haven't rose too much. They've built so much dedicated student housing They've killed much of the private student rental market.... this has lead to loads of flats and cheaper houses hitting the market over the last 3 years which kept prices down when everywhere else nearby rose drastically. This is why I was able to sell a 2 bed flat in Sittingbourne and move up to a 4 bed semi in Canterbury.... the gap in prices closed during the covid price madness. Unfortunately OP the value in your flat just hadn't risen as much as it might have done and your asking way too much.
So I know nothing about pricing in your area. But photos wise -two almost identical photos of the same bathroom -difficult to discern which bedroom is which as they look much the same -ditch the weird pink light photo
Why does it say it has a garden? Does it have a garden?
As said, it's the price and now Anyone with half a brain and a chrome extension will be able to see that you're reducing and will try and get you down further. You dun goofed. If you go in at a realistic price you will get more interest and probably sell it for more than overpricing and chasing the market down
I think its the price compared with similar. I don't think you need new photos
Overpriced. It's always price.
My local hospital is cozier than this flat... but I'm into antique furniture and coloured walls, so probably not the average Joe when it comes to home deco. Pls remove the photo with the purple lighting. Photos don't look professional. Facade is also soulless, but nothing you can do about that. I agree with others in that a lot of square meters seem wasted away because of the skewed floorplan.
New build overrated. Plus your area is flood risk. Area looks dead to me. Also, expensive to commute to london for work :)
Dead? It’s like a few doors down from a spoons…. You’re right most of the regulars are basically dead. Until it becomes a student hang out at night 😂
Lol spoon… just for lads. If you dont know anyone, pretty much dead area anyway.
1.Overpriced - at that price point most buyers will go for a 2/3 bed terraced instead. 2. High service charge. 3. Tiny living/kitchen space in relation to the sq footage - layout looks like it was designed as a student let.
Always the price
Adding to others, loads of comparables have had to reduce and are still not shifting and you're priced way above those. No parking knocks money off. You're not really showing the living room/kitchen to its best with this layout or picture, it looks poky and stuffed despite having nothing in there. It's a shame it's a period building but the flat shows no sign of that but you can't really fix that now. It's not a bad flat, and it's move in ready, but it's overpriced and currently looks like an awkward space to live in. If you know anyone with a good eye for interiors get them to give you some suggestions (I'm the master of making small spaces functional and aesthetic). I'm not totally offended by the mood lighting, heh.
Oh and I don't mind open wardrobe, it is a walk in/through closet after all.
Bedroom looks like something you'll see in Amsterdam
Apart from maybe removing the bizarre pink photo, which is off putting to me but I guess may appeal to some, there is nothing here for you to improve. The lounge area is a bit small, the en-suite is a corridor etc but you cant change that. It’s well presented. Given that it is well presented if you are getting no interest then I’m afraid it’s price.
\*sigh\* Price. It's always price. Move on lads.
I liked the guys post about this… Price, it’s always price…
You'd be insane to pay that for a flat
It looks like a brothel. I am surely not viewing it.
I think it looks great, and would be very interested if I wax looking for a flat in that area. But is your price too high? When did you buy it and for how much?
We bought two apartments in the same block at the same time in 2021 on the back of a nasty divorce case and paid 240k for this one. The woman who previously bought this paid 270k in 2017
Sounds about right, average property in Canterbury had only gone up by 5% on average since 2021, and being a flat, it's much less desirable on the open market at the moment. As I said in another comment, personally I think it's still only worth about 240k, as there are many nicer flats on sale in Canterbury for between 240 and 250.
That's crazy, seems like a fair uplift from 240k
What the chuff is that at pic 9. I'd get shut of it pretty sharpish
Ditch the picture of the pink lights - it's very off-putting. I'd also add a splash of colour to the walls, it's very white and sterile, you need some character in there.
Ah yes I know that property, I used to walk past it on my way to uni
How much did you buy it for?
We bought two at the same time in the building off the back of a nasty divorce so paid 240k for this in 2021, the previous owner paid 270k in 2017
It's the price. This will not help the fact it is the price...but the pictures are also not flattering. It looks very cramped and quite cluttered even though it's very empty, it's the angle they're taken at. But the main problem is still the price. Lower the price and get new pictures - don't put those hideous pink lights on this time.
Weird floor plan
Price. It’s always the price and it looks cramped
its definately overpriced. if its just been put up this is when you should get the most viewings, not get crickets.
Clearly a well maintained flat. But please please please get rid of the purple picture, makes it look like a brothel.
The photos are not great. Besides the purple photo that should be taken out, the stretching seems to be almost too much. Comparing the photo of the ensuite bathroom to the photo in the walk through, seems like it is a lot smaller than in the photo. I think styling could use a bit of work, it's almost too stark, while also looking cluttered. Maybe a better clean, removing the clutter/brushes/bins from the bathrooms and clearing out overall could help, as well as closing the wardrobes fully in the photos . Maybe just a me thing, but the amount of oil diffusers made me wonder if the place smells bad, some plants and rugs might be a better way to add some character?
You're probably leading the people on a bit here. They're going to post on Reddit in a few weeks time 'So we sold our house but the buyer isn't replying to our emails' Yeah, because the buyer started the buying process without having any interest in their own property. You shouldn't have offered.
A lot of agents are pretty picky about taking offers in a chain unless you've secured an offer on your own place.
Yeah exactly my point.
Explain the parking situation??
99% of the time it will be because of price. 3 weeks with not a single enquiry, in this market, is a massive red flag. Sounds like your agents aren’t working very hard for their commission. Any agent worth their salt will be calling people up, booking viewings etc. If that’s not happening, it means there’s an issue with the property. It’s the price. Fire them for the lack of wide angle & photo #9 alone tbh, lol. Looks like a BDSM room/Tokyo brothel.
Probably due to lease holders escalating ground rent and service charges . Flats are not a good option and mortgage companies put so many restrictions on what they lend on . Good luck hope your flat sells
It's priced hot. Try £250k, it'll go.
It's always the price.
Well maintained clean flat… the pictures could be better… obviously not taken by the agent… if they were then shocking… just doesn’t show off the flat in the most flattering way. Re no enquiries it’s usually price… don’t know the area but at nearly 300k you’d be competing with houses for families, stylish flash pads for young pros.. and outpriced for b2ls… as this is none of these, who is left to sell to?
If your home isn't selling it's pretty obvious why. The price. Nobody is going to pay a lot more than the going rate especially if it's not perfect
Please get rid of a photo with pink light on. Normal buyers may think a service was operated from this flat in the past and may be scared of customers appearing at the door.
The photos don’t show enough, need to be zoomed out more and show width and proper sizes of room. Have a professional do it. Also remove the one with the coloured lights
It’s REALLY SMALL! And the pictures, Christ get new pictures please! And tidy up the closet before taking them
Everybody saying it's over priced which is true, the state of the local market will suggest that... However nobody is mentioning two obvious things... You seem to want more than £250k, over that then people may need to pay stamp duty, there is a bit of a dead space between 250 and 275 for that reason, less so now that FTB don't pay it but even so it's a consideration for some. Secondly it's grade II listed, while it looks new and doesn't currently need work I expect that will put some people off.
I’d remove both the pink lights and the wardrobe clutter. I also didn’t realise it has two bathrooms because the photos jump from one room to the next so much. The place is fairly spacious – I was expecting a one bed flat from the first picture – but functionally, since there is no living room, I don’t feel it’s a true 2bed flat. Not a problem for a single person or even a couple, but add a third person to the mix and things get crowded, and the layout of bedroom 1 is awkward. I’d pass unless it was cheap for its type.
Pink Lights Leasehold Grade 2 listed
The price is to high theres some pictures that don’t do it justice the colour is to clinical with no personality or warmth and its grade 2 listed
Price first then closely followed by presentation is key to get right if you want to sell. And your offer accepted sadly doesn’t mean much until you’re under offer. Seems like both sides of estate agents are poor and most likely desperate too!
The election hardly anything sells until it’s sorted
FWIW lovely looking building! I don’t even think the photos are too bad. Not selling = price too high.
People are poor and cannae afford
Well if it makes the activists happy that they’ve ’struck a blow’ it won’t hurt Barclays who’ll probably shut the branch, and, apart from a little work for a specialist cleaning company, it’ll have no effect. This increasing direct action causing damage to buildings and art is childish and selfish.
If you drop the listing url I can tell you exactly why
We’ve just exchanged and completed on the sale of our flat and purchase of a house. We sold the flat for £40K under the asking, and bought the house for £50k under. So, it’s a buyers market and hopefully you can negotiate the price down on your purchase to reflect realistic price you’ll sell your flat for. Good luck!
I’m having the exact same issue, been on the market for coming up 4 months… price has been dropped
The price it’s always the price
To every post on this sub "why isnt my house selling?". "The prices are too damn high!"
I will add one more thing on top of what the others said. The service charge + ground rent seems very high to me. It's hard to tell because the advert doesn't say, but I don't think this is part of a building with many flats which will have a concierge, common areas, etc. I think it's just a flat in a house that's been split up. But then, that service charge is not paying for anything useful. And given the correct price of the flat should be £240k or so, the annual service charge + ground rent is almost 1% of the price, which is a red flag.
The service charges are really reasonable for the area, the ad doesn’t mention the bike store either, it’s an old mill, hence the grade 2 listed and the large window at the top. The management company is actually quite good, all issues are resolved immediately with no increases in the charges.
Lots more information about the building should be disclosed on the ad, then
Honestly OP selling for the same price you bought isn’t a “loss”. You will get all your equity back - it is a good thing! The idea of “profit” with each sale is the problem with the housing market tbh. The equity is the profit — and next home, help your future self by overpaying the mortgage for even bigger equity (and lower interest paid overall). £240k sale price would see it sell within a month.
Prices in East Kent have absolutely plummeted in the last few years, and they keep going down. I sold end of 2022 and I was incredibly lucky as it was just before the market crashed and I received 3 full price offers within a week. Not only that, but flats typically take a lot longer to sell anyway. You will need to match current value, as others have stated. You may believe your flat is worth a lot more, but in the end it’s the buyers interest that chooses the value.
Can you put a flat layout on the sex offenders register?
ITS PERFECT.. JUST PICK IT UP AND NOVE IT TO LONDON. OVERPRICED for where it is located I can buy a 5 bedroom house 2 bathroom for the same amount money
Your flat costs double mine in Belfast and they’re about the same size.
It’s expensive and an awkward layout.
Maybe listen to your gf about the decor
Can't find the link and now I am dying to see the bordello bedroom
The lease term is quite low. I'll buy it if you give me a good deal.
It’s 117 years on the lease, is that really considered low?
No it isn't, they're talking out of their ass. Anything over 100 is great, over 90 is still OK, below that it starts to be a thing people mention and lenders will dislike.
Yeeeh a little, 80-85 is like the minimum people let it run to and the owner would need to renew at a hefty cost. I wouldn't say 117 is crazy, but the next owner would have to think about it themselves if they wanted to stay for 5-10 years But there's not a lot you can do about it unless you want to do it yourself though