My wife & I have lived in our bungalow in Manchester for the last 10 years and as our years progress we decided on one last move – more over my wife decided on one last move !
When we bought our bungalow back in 2010 for £132,000 it was in a sorry state as the previous owners had decided that the sunny shores of Crete were much appealing than rainy Manchester and had done a flit leaving the property which eventually was repossessed some 9 months or so later meaning the property had been empty and uncared for during this time.
We were in the lucky position of being able to buy the property without having to sell our existing home
and this meant we could lavish lots of love and attention on it without having to live there and also live through the day to day mess caused by the team of builders who basically ripped it apart and started again.
The end result was a modern two bedroomed detached bungalow with the advantage a large 30 feet by 10 feet kitchen diner with patio doors thanks to the refurbishment of the existing space provided by what was the old garage.
All the above did not come cheap – fifty thousand pounds plus to be precise.
Once all of the above improvements had been completed we moved in.
In 2018 we had a revamp of the property replacing the roof, turning some additional space at the rear of the kitchen into a utility room, sorted out a damp wall problem in the main bedroom, redecorated throughout and changed all the internal doors to nice oak ones, new carpets and extended the front porch slightly which tied in nicely with the new roof and another twenty thousand had been spent.
In 2019 my wife had seen a bungalow come up for sale which was off one of her all time favourite roads in Heald Green and we ended up going to view it – it was very run down but it also had a large rear garden which my wife was looking for as she is a keen gardener and wanted a new challenge for her green fingers !
It took until June 2020 before we eventually got the keys mainly because the owner was elderly and it took him a long time to agree a price, find a property and of course COVID-19 came along and house moves were not allowed for a period of a few months.
Again we were in the fortunate position of not having to sell our existing property before buying this one.
So we now are in the position to sell our existing our existing property and I contacted a few local Estate,
Agents to come and value the bungalow – the prices were all around the same mark of £265,000 which we considered low so we discussed the figures more with the Agent we had decided to use and they said try £275,000.
Even at £275,000 we thought this was still low and left things a couple of weeks until the new property purchase had completed.
When we were ready we advised the Estate Agent we were ready to put the property on the market and wanted to put in on at £295,000 which they did on the basis we could always accept a reduced offer or reduce the purchase price in the future.
Our existing bungalow went on the market on a Tuesday and we got three separate couples viewing – one on the Thursday followed by another viewing on the Friday and the third on the Saturday.
All the people who viewed offered – two at £290,000 and one at £295,000.
We accepted the offer at £295,000 as these people had sold their property and were in the best position to proceed.
So much for the Estate Agents who valued the property at £265.000 to £275,000 – we ended up obtaining the asking price and receiving £30,000 more than the lowest valuation.
The moral of the story – go with your instinct !