Are bungalows harder to sell? In this article, we will give our thoughts on how to sell your inherited bungalow quickly.
We will compare different sale methods to help you make an informed choice. Even if your bungalow needs work, we know you will find these tips helpful.
Table of Contents
Are bungalows hard to sell?
Bungalows tend to be harder to sell because they do need modernisation. Usually, after the death of a parent, they come up for sale.
A typical refurbishment can quickly run into tens of thousands of pounds because the cost of materials and labour have gone through the roof.
Very few bungalows have adequate parking space, so a family of a working couple will need at least two car parking spaces and possibly a garage. A garage is necessary for petrolheads with a motorbike or a loved car.
Another concern with bungalows is that the neighbouring properties overlook them, so privacy concerns exist. Most people value their privacy, whether sunbathing or playing with their grandchildren in the garden. So how to create privacy in a garden?
Price is another concern because houses are cheaper than bungalows, and you are getting better value on paper. It is usually possible to buy a three-bed house for the price of a two-bed detached bungalow.
Do bungalows sell well?
Bungalows are loved by cash-rich older people who prefer independent living instead of moving into a care home.
Building bungalows is not financially viable for most developers, and thus fewer are being built.
Bungalows have a limited market. Elderly cash buyers who would not qualify for a mortgage due to their age.
While estate agents tend to over-value a bungalow to win your business, they generally don’t have a solid marketing plan to achieve a sale.
Their only strategy will be to put it up on Rightmove and hope that enquiries will come in. They recommend reducing the price if your bungalow has not sold after three months. These ‘recommendations’ will continue until it eventually sells.
In the current market, it can take up to 6 months to ‘agree a sale’ and then another three months (as a best-case scenario), so allow up to a year for the sale to conclude – if all goes well. But what happens if there are complications with probate, historic charges or boundary disputes with neighbours?
Ready To Sell?
Is there a demand for bungalows?
True bungalows are popular, provided that not too many are up for sale at any point in your area. Many bungalows listed on Rightmove are chalets or converted into houses.
A chalet bungalow has a second-storey loft conversion, which offers extra bedrooms in the loft. The building is marketed as a bungalow because the main bedroom is on the ground floor.
It is a hybrid house-bungalow.
Do bungalows have good resale value?
True bungalows have a high demand from older people and tend to appreciate over time. However, fewer bungalows are being built nowadays.
Here are some extra steps you can take to add value:
- If there is a bathroom in your bungalow with a shower on top, it may appeal to young families. A shower room alone will put off families with young children who prefer a bath.
- Elderly buyers with mobility problems may be looking for a wetroom with a level-access shower rather than a raised shower tray.
- If the bungalow needs a new kitchen, it is worth the investment. However, as you rip out the kitchen, your budget might double or triple depending on what you might discover. It is common to rewire, re-plaster, take a look at plumbing, re-floor, and address damp issues.
Method of Sale
PROS
CONS
Estate agent
If you can find the right buyer, you will get the best price.
If price is important and you can wait, this is the best option.
It can take up to 1 year to sell.
No guarantee of sale.
Estate agent and abortive legal fees.
Uncertainty of a property chain.
Delays.
Rising probate costs.
Private sale
With a private sale, you are likely to get a good price.
Faster than normal sale.
Negotiating a price is the difficult part.
No fees.
Property auction
Transparent environment.
Bidders are pre-qualified.
Quicker than an estate agent.
The guide price has to be low.
Upfront fees.
The sale is not guaranteed.
Property buying company
The sale can be concluded in 10 days.
Genuine cash sale.
No solicitors or agency fees.
Can help you resolve issues with the property.
Sell as it is.
You would get less compared to an estate agency sale.
Why is my bungalow not selling?
There may be several reasons why your bungalow is not selling. Patience is vital because of the limited pool of buyers. Have you considered the following:
- Is your bungalow priced competitively to sell?
- If there is an oversupply of bungalows within a 3-mile radius?
- Is the garden too small?
- Is the garden overlooked, and there is no privacy?
- Does it need complete refurbishment?
- Is it on a busy road?
- How far is your bungalow from the nearest shop?
- Does it have kerb appeal, or is it full of concrete or gravel?
Sell with certainty & speed
What would you do if your bungalow was not selling?
It is overpriced if you are not getting viewing requests. Let’s say that your bungalow is worth £300,000, then you could put it on the market at offers over £270,000 to test the market and hope to achieve £280,000 plus.
It will narrow your market if you can not walk to your nearest shop. Bungalows that are isolated from local amenities will have limited appeal.
This is because any would-be elderly owners will require regular trips to the hospital or doctor’s surgery. You can not change the property’s location but still sell it. More on that later.
To improve kerb appeal, consider putting on a resin drive on the front and a grass garden at the back. Having extra parking spaces for their visiting children will go a long way to improving your chances of selling. Or you could sell your property as it is to us.
Why can't I sell my bungalow?
The market for bungalows may have seen some changes since its construction. Your market is now first-time buyers with cars because your bungalow is miles away from any shops or medical facilities.
If this is the case, consider converting it into a chalet bungalow. But the costs can overrun, and you may need more time to manage builders.
If you are selling an empty bungalow, consider staging it with the furniture as it will look ‘lived in’ and increase your chances of selling it. Buyers can’t imagine what a space will be like, so it is best to stage it.
Constantly reducing the price can lead to frustration. If a buyer pulls out, the conveyancing process starts again, which can be very stressful.
As each day passes with your bungalow remaining unsold, the probate expenses will gradually diminish your inheritance funds.
Councils can now charge as much as 200% council tax rate for an empty property.
When inheriting a property, it’s essential to consider the additional expenses, such as property insurance, utility costs, maintenance, and security. These expenses can significantly affect your inheritance share.
You have probably had enough of the estate agent’s excuses. You will be pleased to know there’s an alternative way to sell.
Would you consider selling your bungalow now for cash? Have money in your bank account in 10 days or quicker, with no fees to pay?
Sell with certainty & speed
How can I sell my bungalow?
Bungalows can be slow to sell. Chalet bungalows can be worth less than a true bungalow. If you own a true bungalow in a rural location or an area where they are abundant, you could wait a while to sell.
Buyers who want bungalows do not want two-storey chalet bungalows, and those fussy first-time buyers would instead buy a three-bed semi-detached house for the price of a two-bed bungalow.
Bungalows appeal to pensioners and people with mobility issues – those with cash to be able to buy yours. They may opt for assisted living arrangements. This reduces the demand even further.
This is where a reputable cash house buyer such as Property Saviour can assist. We will make you a cash offer, considering the condition of your bungalow, and then if you accept, we will complete the purchase within ten working days or more quickly. You don’t have to pay fees; we’ll also pay £1,500 toward your legal fees.
So what are you waiting for? Get in touch with us today and put your feet up.
Sell with certainty & speed
Sell Your Bungalow For Cash
Why you should sell to Property Saviour:
Property Saviour Price Promise
- The price we’ll offer is the price that you will receive with no hidden deductions.
- Be careful with ‘cash buyers’ who require a valuation needed for a mortgage or bridging loan.
- These valuations or surveys result in delays and price reductions later on.
- We are cash buyers. There are no surveys.
- We always provide proof of funds with every formal offer issued.
We'll Pay £1,500 Towards Your Legal Fees
- No long exclusivity agreement to sign because we are the buyers.
- You are welcome to use your own solicitor.
- If you don’t have one, we can ask our solicitors for recommendations.
- We share our solicitor’s details and issue a Memorandum of Sale.
Sell With Certainty & Speed
- Our approach is transparent and ethical, which is why sellers trust us.
- 100% Discretion guaranteed.
- If you have another buyer, you can put us in a contracts race to see who completes first.
- Complete in 10 days or at a timescale that works for you. You are in control.
