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  • FIRST POST
    • goody23
    • By goody23 19th Mar 17, 12:36 PM
    • 56Posts
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    goody23
    Selling my Ex- local authority flat
    • #1
    • 19th Mar 17, 12:36 PM
    Selling my Ex- local authority flat 19th Mar 17 at 12:36 PM
    Hi guys i have decided to sell my 2 bed maisonette flat its getting a bit to small for me and the family.
    it is located in London next to a retail park and tube station I think it needs a bit of work new kitchen and painting etc...
    Can i avoid doing all that work and sell at a reduced price or do i maximise my asking price by putting the new kitchen and doing the painting need Thanks
Page 1
    • marliepanda
    • By marliepanda 19th Mar 17, 12:47 PM
    • 4,649 Posts
    • 9,313 Thanks
    marliepanda
    • #2
    • 19th Mar 17, 12:47 PM
    • #2
    • 19th Mar 17, 12:47 PM
    Hi guys i have decided to sell my 2 bed maisonette flat its getting a bit to small for me and the family.
    it is located in London next to a retail park and tube station I think it needs a bit of work new kitchen and painting etc...
    Can i avoid doing all that work and sell at a reduced price or do i maximise my asking price by putting the new kitchen and doing the painting need Thanks
    Originally posted by goody23
    Sell it as is, Id say. Your tastes may not be your buyers and they may want to put In their own kitchen if the price is right.
    Survey Earnings 2017 - £163
    • ACG
    • By ACG 19th Mar 17, 12:54 PM
    • 15,390 Posts
    • 7,782 Thanks
    ACG
    • #3
    • 19th Mar 17, 12:54 PM
    • #3
    • 19th Mar 17, 12:54 PM
    Its not difficult to make a kitchen to someones tastes. Look at the people living in the area and buy a kitchen that matches your target market.

    If you sell it as is, what will it achieve?
    If you sell it with the work done, what will it achieve and what will it cost?

    I bought my house for £86k, I spent £12k gutting it and doing it up. I am 2 weeks from completing the sale for £155k. Admittedly house prices have gone up and more work has been carried out that a kitchen and bathroom but it just goes to show how much impact a few grand can make.
    • goody23
    • By goody23 19th Mar 17, 1:14 PM
    • 56 Posts
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    goody23
    • #4
    • 19th Mar 17, 1:14 PM
    • #4
    • 19th Mar 17, 1:14 PM
    Sell it as is, Id say. Your tastes may not be your buyers and they may want to put In their own kitchen if the price is right.
    Originally posted by marliepanda
    i just think that having a horrible kitchen puts buyers off.. although to be fair the kitchen cabinets now are not too shabby..Although i could potentially lose £20k
    Last edited by goody23; 19-03-2017 at 1:17 PM.
    • goody23
    • By goody23 19th Mar 17, 1:17 PM
    • 56 Posts
    • 5 Thanks
    goody23
    • #5
    • 19th Mar 17, 1:17 PM
    • #5
    • 19th Mar 17, 1:17 PM
    Its not difficult to make a kitchen to someones tastes. Look at the people living in the area and buy a kitchen that matches your target market.

    If you sell it as is, what will it achieve?
    If you sell it with the work done, what will it achieve and what will it cost?

    I bought my house for £86k, I spent £12k gutting it and doing it up. I am 2 weeks from completing the sale for £155k. Admittedly house prices have gone up and more work has been carried out that a kitchen and bathroom but it just goes to show how much impact a few grand can make.
    Originally posted by ACG
    what i need is a new front door ..a new kitchen and painting the flat again.i might potentially lose £20k ..let me see what the estate agents say when they come to inspect
    • Lloyd90
    • By Lloyd90 19th Mar 17, 1:28 PM
    • 80 Posts
    • 76 Thanks
    Lloyd90
    • #6
    • 19th Mar 17, 1:28 PM
    • #6
    • 19th Mar 17, 1:28 PM
    Depends how big your kitchen is etc but if you can get a new door, kitchen and do the painting yourself for under £10k surely thats a good idea?
    • goody23
    • By goody23 19th Mar 17, 2:18 PM
    • 56 Posts
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    goody23
    • #7
    • 19th Mar 17, 2:18 PM
    • #7
    • 19th Mar 17, 2:18 PM
    Depends how big your kitchen is etc but if you can get a new door, kitchen and do the painting yourself for under £10k surely thats a good idea?
    Originally posted by Lloyd90
    yep that is what i am thinking....my mortgage is up for renewal i am thinking of borrowing an extra £15k to spuce my flat up then sell
    • Cakeguts
    • By Cakeguts 19th Mar 17, 2:20 PM
    • 2,725 Posts
    • 3,725 Thanks
    Cakeguts
    • #8
    • 19th Mar 17, 2:20 PM
    • #8
    • 19th Mar 17, 2:20 PM
    How much do the ex local authority flats in your immediate area sell for? Do not compare your flat to flats in the area that have never been ex council or housing association flats. You have to compare like with like.

    Do not use Zoopla as that is always wrong. My suspicion is that you won't lose 20k by not changing the kitchen but until you do the comparison you won't either.

    Whatever you do to it won't change the fact that is is an ex council flat.
    • goody23
    • By goody23 19th Mar 17, 2:23 PM
    • 56 Posts
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    goody23
    • #9
    • 19th Mar 17, 2:23 PM
    • #9
    • 19th Mar 17, 2:23 PM
    How much do the ex local authority flats in your immediate area sell for? Do not compare your flat to flats in the area that have never been ex council or housing association flats. You have to compare like with like.

    Do not use Zoopla as that is always wrong. My suspicion is that you won't lose 20k by not changing the kitchen but until you do the comparison you won't either.

    Whatever you do to it won't change the fact that is is an ex council flat.
    Originally posted by Cakeguts
    Thats true something to consider
    • AlexMac
    • By AlexMac 19th Mar 17, 2:56 PM
    • 1,888 Posts
    • 1,659 Thanks
    AlexMac
    I bet the EA will say- clean it, de-clutter and sell as is.

    A middle way would be to renew the front door (£500-£1k depending on whether you also have to renew renew the sidelights like in my LA leasehold), or just paint the front door (£50), and simply paint the worst rooms (£150 or £600-£1k if you are totally carp at DIY and have to get someone in). But mainly de-clutter and clean.

    No way would I borrow £15k to do it up. If the kitchen units are really trashy I might just replace the door-fronts at about £25- £50 per unit if they are the usual sizes, but I'd only spend £10k plus if it was going to add double that to the asking price; which I doubt.

    Location will sell it. And unless the wider estate is terrible, or you're in a tower block, the advantage of an easy commute and lower price will trump its ex-Council status.

    But I could be wrong. I'm amazed that the little ex-Council BTL which I got for just over £150k 5 years ago in a commutable bit of London Zone 3 is now worth well north of £250k... and that there is virtually nothing in that postcode or the next one under £300k. I may have to sell it to clear my own home's mortgage when that expires in 3-4 years, and at that time I might consider a new kitchen and bathroom, new floors and a re-dec as they will ne trashed after a long let to a social landlord. But I'd try to keep that refurb well under your £15k guide-price.
    • TBagpuss
    • By TBagpuss 19th Mar 17, 6:09 PM
    • 5,866 Posts
    • 7,618 Thanks
    TBagpuss
    Look at similar (ex council) flats and what they have sold for, and what condition they were in (sold prices on Rightmove usually still have the photos available for recent sales)

    Then get a couple of local agents and ask them what they think, realistically, it will sell for as is, and what difference the price would be if you were to carry out the work.

    Then decide.

    If you can, repainting in light, neutral colours is something you can do yourself and which will make a difference. Depending on what the kitchen is like, replacing the cupboard doors may be much cheaper than replacing the whole kitchen, and may make a big difference.

    And as others have said, clean thoroughly and declutter before you put it on the market.
    • teddysmum
    • By teddysmum 19th Mar 17, 6:34 PM
    • 8,217 Posts
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    teddysmum
    I was about to suggest the economical route of just replacing kitchen unit doors. There are often sets of doors, from people who have scrapped their kitchen just because they wanted a change, going for a few pounds, on Ebay.
    • goody23
    • By goody23 20th Mar 17, 12:38 AM
    • 56 Posts
    • 5 Thanks
    goody23
    Thanks guys for all your responses...looks like i will just do a cheap repaint ...not worth the expense the location will sell it...the tube stn is literally 3 mins away that alone is a plus point
    Last edited by goody23; 20-03-2017 at 12:40 AM.
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