You are reading a single comment by @bobble and its replies.
Click here to read the full conversation.
London Fixed Gear and Single-Speed is a community of predominantly fixed gear and single-speed cyclists in and around London, UK.
This site is supported almost exclusively by donations. Please consider donating a small amount regularly.
bobble
Howard
There's like this weird thing where completely fucked unmodernised places have a premium on them because they offer a blank slate to work on, allowing a buyer to realise a home where they know exactly what has been done and when and up to their specific standard. Doing up a fixer upper is in some ways easier than paying for and fixing someone else's middling shit show.
Theory: the potential for full renovation has value, making unmodernised homes more costly to buy compared to partially modernised places (like the 'house b' in the original post).
We went through this in the summer. there was an unmodernised three bed on the road where we now live and they wanted £900k for it. It was fucked...all the features were gone, the owners were smokers.... I offered £840k for it which I thought was generous but they rejected it and fuck me, I was not paying more for it. At the time, the most a place had gone for on the street was just north of £1m.
We ended up getting a modernised place just down the road that had all the fireplaces, rails, good kitchen, loft conversion, studio in the garden.....and we had a fair bit of change from £1m. Fair enough it needed work and there was a little risk priced in to it but it highlights that 'modernised - but a while ago' is a shit place to be as a seller.