New kitchen and/or bathroom before selling?

_bankrupted

In my area you would be really hard pushed to fit a new kitchen and bathroom for 10k, even using cheap suite/kitchen units if you didn't do the work yourself.

For arguments sake say it costs you 5k, then you need to add on 5k to the sale value to recoup your costs. You have also had the hassle of dealing with workmen, resolving problems etc to get the work done and finished, so surely most people would expect a return on this hassle and add on more than 5k.

The flip-side is that people are struggling to get finance and obviously the lower the price then potentially more people may be able to finance the purchase of your property.

So logically it's better to drop the price by the costs of the work.

superbabe612

Just to update our situation - after the previous advice, we decided to stop all viewings and get quotes for a new kitchen, intending to redecorate over the Easter holiday - but before we could, we had an offer from an investor wanting to renovate the property :j so we accepted less than the asking price but only by what we probably would have spent on doing it up. Result!

Thanks for your advice everyone!

InkZ

Good news

I had to replace the carpets and spend a couple of hundred quid on the bathroom for new cabinet, shaving light, bath screen, before my flat sold. We also bought a tin of paint to paint the tiled window sills. Amazing what spending a grand can do to the saleability of a property, the bathroom looked totally different!

In the current market increasing saleability is key, it doesn't always cost a fortune.