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HomeWorldDream Home Nightmare: Couple's £275k Property Now Valued at £1

Dream Home Nightmare: Couple’s £275k Property Now Valued at £1

A couple shared their distress after purchasing what they believed would be their ideal new-build property, only to find out it’s now valued at just £1.

Dayle Dixon, 54, and Mark Lee, 49, grandparents from Devon, invested £275,000 in their Ivybridge home in 2018, hoping for a place to enjoy life. However, their dream turned into a nightmare as they uncovered a series of severe issues in the property over the past seven years, including structural concerns.

Dayle expressed how the problems have become so dire that her grandson can no longer visit, leaving her feeling trapped and in tears. She lamented being sold a dream that has now crumbled beneath them, making it impossible to sell or even decorate the house for fear of collapse.

The couple, who previously rented, used a combination of inheritance and government funding to purchase the property from Barratt. Early signs of trouble emerged when Dayle noticed a crack in the hallway, dismissed by Barratt as a minor issue. However, her intuition led her to discover more issues like water damage in the kitchen.

Upon further inspection, they identified around 500 problems, ranging from window frame gaps to structural defects. Dayle highlighted issues with the damp-proof course, causing persistent troubles and sleepless nights. Despite a recent valuation of £330,000, a surveyor warned the property would only fetch £1 due to its numerous defects.

Seeking redress, Dayle demanded Barratt buy the property at market value and compensate for their losses and emotional distress. Although Barratt offered £5,000 and a buyback, Dayle rejected the offer, feeling it wouldn’t cover the extent of their losses. Barratt has claimed repeated efforts to assist have been rebuffed and remains open to resolving the situation through independent assessments.

The ongoing dispute has left the couple feeling cornered, with Dayle accusing Barratt of withdrawing offers after their refusal, intensifying their plight.

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