Improvements in order to sell

slopemaster

It was my parents' home. We would like to keep it, but if it's not going to pay for itself it may have to go.

The letting agents were divided - some thought it absolutely fine as it is, others that we should do something about the dated kitchen (and built-in cpds in the bedroom).
We didn't want to spend a lot of money in order to let it, so we just tidied it up and went with the agents who seemed to like it as it was as we thought they would promote it better.

But I suppose the ones who thought it too dated for letting planted the seed.
Trying to look on it as a developer would.

Seems almost unanimous NOT to spend money on it then...

slopemaster

:)Thanks for the nice comments

Marmalade_Princess

Have you thought about holiday let's rather than a longer term letting? You will obviously need to furnish it but it appears to be in a good area...

slopemaster

Yes, we did think of that, but when we looked into it we couldn't see how the figures would work out - there was a really nice thatched cottage up for rent at less than we were thinking we would need to charge!

aggypanthus

slopemaster wrote: »

It was my parents' home. We would like to keep it, but if it's not going to pay for itself it may have to go.

The letting agents were divided - some thought it absolutely fine as it is, others that we should do something about the dated kitchen (and built-in cpds in the bedroom).
We didn't want to spend a lot of money in order to let it, so we just tidied it up and went with the agents who seemed to like it as it was as we thought they would promote it better.

But I suppose the ones who thought it too dated for letting planted the seed.
Trying to look on it as a developer would.

Seems almost unanimous NOT to spend money on it then...

Except for me!
If it has added value potential why let someone else make on it?

Mojisola

slopemaster wrote: »

The house is in clean and tidy condition but has a dated kitchen - long and narrow with 1970s style tiles. So opening it through to the living area, as well as refitting it, might be a good option. Also possibly thinking of opening through from living to dining room, and maybe wood flooring.

There is also a garage (detached) which I think could be converted to living accommm under permitted development

I, too, would see what the interest was without making any changes.

What you are thinking of doing will cost a lot of money. Do you have the money available or would you need to borrow it? Judging by other houses in the area, how much would the work increase the value? How do those sums work out?

slopemaster

aggypanthus wrote: »

Except for me!
If it has added value potential why let someone else make on it?

True.
You said
"any developer would make money on your house" and that's kind of what I was thinking...

We've been looking at much more ordinary houses in the area where I live (2 bed terraces) and the ones that need new kitchens/bathrooms only sell quickly if £30000 below the done-up price. And we reckon the work to cost about £15000...

But then, my parents' house is a different animal and doesn't "need" improvement as such

slopemaster

Mojisola wrote: »

...how much would the work increase the value? How do those sums work out?

That's just it.
It's REALLY hard to tell.
It has to be said that in that area people who buy tend to do work anyway once they move in, even if it's not needed. It's impossible to work out how much value it adds, as all the houses are different. (Ours is one of the smallest - some are positively mansions.)
Yet somehow I do feel that having the work done would make it 'look' like a more expensive house, even if people then re-did it to their own taste.

I suppose that does suggest I should talk to local estate agents who know the particular area.

I have heard tales of
1) A house locally bought for a very substantial sum just to demolish it and build on the plot
2) Someone who supposedly bought a million-pound-plus house all newly refurbished - and then ripped most of it out and did it again, including new staircase etc

Nowt so queer as folk, eh?

Old_Git

have you asked the agent why it hasnt rented .
You need feedback from the agent .Is it the price or the kitchen ?

ognum

Have you considered moving the furniture out and doing a cheap coat of paint to freshen up etc.

I would not spend a lot but would try the unfurnished route, it's a family house and most families have there own furniture.