Renovate&Sell or just Sell?

bilbot79

Phrases such as 'How long is a piece of string?' are banned

The impression I'm getting from EAs is that houses with everything done are selling very quickly. I compare my unrenovated house to an identical item around the corner and find the price on the register to be near 20% more than I think my house is worth.

Traditionally though you don't make money back on renovations...or do you in this market?

Graham

My guess, you're better off selling as is.

Call it the Sara Beeny effect. So many people looking for a dooer-upper I can't remember the last time I spotted one where the saving over an already renovated property was anything like enough to cover the cost of the renovations.

bilbot79

Graham wrote: »

My guess, you're better off selling as is.

Call it the Sara Beeny effect. So many people looking for a dooer-upper I can't remember the last time I spotted one where the saving over an already renovated property was anything like enough to cover the cost of the renovations.

Thanks. Coupla people are saying that but my gaff was valued in March at 380. Literally identical one on the same street with nice extension went for 500 recently. Mad!

Graham

I'd get yours revalued again, then work out what a partial/full refurb would cost.

1641

They say that people make their gut reaction to a place within 10 seconds - like or not like. First impressions count. Depending on the condition of your place, some basic cosmetic updating could make a big difference, eg, a coat or two of a neutral/ off-white on the walls, paint the front door, and windows (if relevant), etc. Have the place immaculately clean inside and out. Don't go spending big money on new bathrooms, kitchens etc. If people "fall in love" with it they will want to make it their own, ie, put their own stamp in it.

jmBuildExt

My opinion:
If you are able to do a significant amount of the work yourself. explore how much it will cost for materials etc and make a decision.
If you're relying on trades.... I wouldn't even bother researching it. Prices are ridiculous at the moment.

bilbot79

jmBuildExt wrote: »

My opinion:
If you are able to do a significant amount of the work yourself. explore how much it will cost for materials etc and make a decision.
If you're relying on trades.... I wouldn't even bother researching it. Prices are ridiculous at the moment.

That I cannot unfortunately. I'm leaning towards moving now really, it sounds like too much of a risk really to renovate unless you're staying there

jmBuildExt

Also, "renovate" is a loose term.
What needs to be domne to your house?

bilbot79

jmBuildExt wrote: »

Also, "renovate" is a loose term.
What needs to be domne to your house?

Minimum 25 ft extension. Replastering walls. New fireplace. Reconfigure bathroom and kitchen. Recarpet upstairs, timber floors downstairs. Replace staircase

bleary

I wouldn't if I was you.
Most buyers prefer to do things thei own way rather than a cheapie extension. You'll begrudge every penny you put in and it will show

LirW

Don't. We just bought a place to do it up and if you need substantial work, like replumbing and rewiring the place, that's messy, very expensive and something that requires a lot of your attention.
In my village someone did a small townhouse up with a cheapish finish with the hope of getting a higher price. Won't happen, houses sell for much less than he's asking for.