We would like to move house but...

katies_mum

Wondering if anyone can offer any advice please.

We have lived in our semi for 25 years, its now at the stage where everything needs doing and all at once..we need new electrics, central heating system and boiler, kitchen, decorating etc.

We are in a bit of a quandry..do we stay and get everything done and then when its been done..wish we could move as we have always wanted a detached house! but know we can`t as he have spent all our extra cash.

Or do we try and sell it as it is (not sure if we could though, with the electrics needing doing and heating which does work but is years and years old and really needs replacing and desperately needs new kitchen) I`m sure I`ve read you have to have some efficiency report or something done so am sure it would fail).

The money that it would cost to get everything up to scratch could be put towards moving (I appreciate we would have make the purchase price appealing). But would we have to bring the house upto scratch before we could put it on the market?

I`m trying to weight up which will be our best option. We have only moved house once before and that was over 25 years ago.

Thanks

tim123456789

there are three things that buyers consider when buying a house

location, location, location.

If the location's good it will sell whatever the condition.

If the location's poor, in the current market, you have trouble selling a palace.

Does that help?

tim

katies_mum

Thanks, I think location is good and we want to stay in the same area as we like it! close to town centre, hospital, schools, 30 mins from motorway.

gayleanne

If I was buying a house, I would definitely buy one where I didn't have to do anything to it, except the decorating. I would be thinking about the cost of boiler, new kitchen, electrics, it would mean weeks or months of work, the price of the house would have to be so low that it would be worth buying.

katies_mum

This is exactly whats worrying me, but we can`t afford to do both.

pmlindyloo

When I have a quandry like this I need to put everything on paper so that it all makes sense financially.

Before you do that what are your reasosn for wanting to move? Are they outweighed by the expense of moving or is it just a case of wanting a detached house?

Have you looked at the cost of a detached property in the area you want?

When you've thought this through then do the sums.

Get an estate agent in and ask him what you could get for the house now. Deduct 15% ish from that price and then see if you have enough money to buy what you want. Don't forget to factor in the cost of estate agents fees, moving, solicitor's fees.

That, at least, gives you a place to start.

If the figures don't add up and you can't afford to move then at least it won't be a case of should we/shouldn't we.

Good luck!

happycamel_2

So long as it all works leave it. Maybe get new kitchen cupboard doors if or at least tighten the hinges. Your buyer may be in the trade and do it themselves, they'll want to choose their kitchen, if the boiler and electrics work then they're fine. Ask for a sensible price. Your buyer may wan to let I as it is anyway.

You'll never get what you spend on improvements back on the asking price.

Give it a few months, decently priced and then if you really aren't getting viewings or interest get feedback from potential buyers and improve Jose bits only.

mrsmchapman

When we were searching for our new house, electrics, heating kitchen, bathrooms doesn't bother me I would rather have a property I can put my own stamp on, as long as its liveable (having two children) the price is appealing and location good I'm all for it, these properties in my area get snapped up pretty quickly!

phoebe1989seb

My experience/thoughts.......

We always go for run down *project* houses, so one decorated to within an inch of its life would never appeal to us, but then we're probably not the average buyer.

In 2011 we sold our last house, having spent in excess of £40k on restoring it to its period glory. Our EA was most impressed with the standard of work - high-end bespoke kitchen and bathrooms plus rewiring etc etc - but said whilst the work carried out would make our house more saleable it wouldn't increase the value. Unfortunately as it was in a stagnant house price area, he was correct - we accepted an offer we were happy with within a fortnight, completed within ten weeks of advertising the house and put it down to experience. The new owners admitted it was our kitchen (and the character features) that sold the house to them. Overall we *lost* £60k and TBH we could have spent far less and still achieved a similar price.

Recently (second half of 2012) we had to sell my parents' 3 bed 1920s semi in Hampshire. They had owned it for nearly fifty years, it was well maintained but a little dated in parts, but in a very good and popular location. We priced accordingly and accepted an asking price offer in about six weeks.

DS has recently updated the small kitchen in his first flat - solid oak cabinet doors he handpainted himself, beech worktops, new stainless steel under mount sink, new taps and Habitat subway tiles, all for around £2k......the effect for so little outlay is amazing!

To sum up, you could do some work and make your house more appealing, but there will always be those that want a project and whatever you spend will want to rip it all out and start again. It's certainly not worth going overboard if at the end of the day you still want to move........

Above all, I agree that location is key to achieving a good price and priced realistically any property will sell. Good luck with whatever you decide to do

katies_mum

Brilliant advice thank you.

If we do decide to try and move my major worry is this E?? report you now have to have as it would be terrible I`m sure and think this could put buyers off.

As suggested pen to paper is definitely needed, that is my task for tomorrow.

DaftyDuck

You'll never recoup the cost of doing that kind of work before a sale. Don't even try it on a semi that's tired, especially when you are as well! Sell it "as-is", be clear about the remedial work (so you can't get knocked down so much on survey).

You can't "fail" a survey as such. It's all advisory, except w.r.t. the mortgage company. If you are selling the house in a basic condition, it's much more likely to appeal to someone with the know-how and pockets to not be flustered by the state.

It is worth tidying up, maybe touching up the paintwork, fixing those weekend jobs you've ignored over the last few years... spend maybe a couple of hundred pounds. You may not see the £££ back from that either, but you are more likely to have a swift sale.

Main thing is, be honest before survey and get the right buyers interested.