Trying to sell house - is it worth doing it up?

besonders1

Only reason we'd considered buy to let is if we'd had to go to auction, didn't want a builder to get for 110k or something, then sell it a couple of years down the line.

I have to disagree with most people on here about selling in its current condition as you would only appeal to property developers, can you not just redecorate in modern colours like magnolia, beige and just paint the kitchen cupboards while. You can buy a new white bathroom suit for £250 from wickes so if spent no more than £1-2 K on the house it would take it away from the "needs modernization" criteria. I would just try and maximise your return, as you said you don't want it to go to auction and sell for Below market value.

lincroft1710

I had same problem with late father's house a few years ago. Needed time and money spending on it, so had garden made low maintenance and sold it as was.

If a developer buys it and makes profit on it 2 yrs later, that's that! He may have to wait longer than 2 yrs, in which time your family has money plus, if they invest it, a little interest also. Empty properties deteriorate and need money spending on them, rented out need money spending up front.

Tidy, absolute minimum spend if need be and SELL!

socrates

besonders1 wrote: »

I have to disagree with most people on here about selling in its current condition as you would only appeal to property developers, can you not just redecorate in modern colours like magnolia, beige and just paint the kitchen cupboards while. You can buy a new white bathroom suit for £250 from wickes so if spent no more than £1-2 K on the house it would take it away from the "needs modernization" criteria. I would just try and maximise your return, as you said you don't want it to go to auction and sell for Below market value.

I meant to quote you but thanked you instead

Developers/investors are in a position to move quickly.

Have you seen houses that most old people live in - no disrespect to anyones parents but generally the properties are trapped in the 80's and in some cases the 1880's!

Once you start working on one of the houses it becomes a black hole for money.

Why paint over something that is going to be ripped out to have all the electrics done, probably the pipework for the central heating, possibly double glazing etc etc etc.

Yes you can buy a £250 bathroom suite from Wickes - what about the re-tiling, re-plumbing, re-flooring and who knows what the floor boards will be like or the walls. Where are the labour costs coming from?

Not a hope of getting away with £1-2k!

charliee_3

i'd go for a bit of a tart-up.. paint the worst bits magnolia and make sure it is fairly clean. I looked at some right minging properties and TBH we were looking for a bit of a fixer upper but some of them were just too much...

poppysarah

If you have happy memories of the house - then leave them at that and don't touch it. Just sell it.