worth installing central heating?

pintojen

Hallo. I have been left a flat which isn't great condition (but dry and watertight).

I stripped a lot of it out a couple of years ago (removed past it kitchen units/ old tiles in bathroom etc) but then had to halt work through illness and other problems.

Now I think I want to sell.
Is it worth just putting in a cheap kitchen/bathroom and painting it or going a bit further and also installing gas central heating.

Current value is 125,000-130,000. A identical but done up flat next door sold for 165,00 a month or so ago (ie central heating, new kitchen etc, painted recently etc).

It's the middle flat of 3 in a Victorian sea side conversion in a good location near transport inc mainline to London and shops.

All advice most welcome.

At the moment it is just costing me service charge while I dither!



These flats (1 bed) rent out for 700-/- a month.

retepetsir

I'd say it was worth putting in a bathroom, kitchen and central heating. There's no point doing the first two without the last one.

jk0

The problem is that without kitchen/bathroom fittings it will be unmortgageable, so cash buyers only. Knowing this, they will inevitably knock you down.

Have you thought about letting it?

If it's only a short lease, that would restrict your buyers also. If you can't afford to renovate, have you thought about an auction?

pintojen

Hadn't thought about auction.

I can afford to do it up possibly (using credit cards etc) but couldn't service that debt for more than a few months so would have to sel or indeed let (thanks jk0) top pay off cards.

Maybe that's the way to go....

Hadn't realised mortgage probs if no kitchen bathroom fitted. Big point.

tim123456789

I think that you might get a better deal if you find an EA to "sell by tender".

Though you should insist that they delete their clause requiring that the buyer sell it on through them. This will just result in you getting lower offers

hazyjo

Silly question, but is there actually a gas supply to the flat? A lot of flats (esp if a big block) don't have gas supplied...

Does it have any heating at the mo?

Personally, I don't think a really cheap kitchen will sell a property - I would come in and replace it, resulting in even more work/cost. Although, point noted that it wouldn't be mortgageable without one so a bit of a catch-22! Cheap kitchen and bathroom and no heating probably wouldn't add much onto the actual value (especially around that SD threshold!), but it would make it easier to sell to a wider market.

Jx

tim123456789

hazyjo wrote: »

Silly question, but is there actually a gas supply to the flat? A lot of flats (esp if a big block) don't have gas supplied...

Does it have any heating at the mo?

Personally, I don't think a really cheap kitchen will sell a property

IME there's a big difference between a cheap kitchen, and a cheaply installed kitchen

tim

pintojen

Thanks both. The kitchen is small and between us we could install (safely) ourselves so maybe could get around the catch 22. There is mains gas into the flat (into the living room and kitchen) but I think the supply pipes need upgrading. No there isn't any heating installed at the moment. Has been heated using a couple of electric oil filled wheel radiators.

dimbo61

You need a gas safe engineer to install the central heating and boiler and he may as well install a shower heated by the central heating.
New kitchen and bathroom unless you are really that good at it should also be left to people qualified to install, plumber, electrician, tiler, plasterer etc
When you put it on the market the vendors solicitor will want certificates to say work is safe ( Gas safe certificate, Boiler installation certificate, Electric safety certificate ) You may need building regs.
If you spend £3,500/4,000 on central heating, £5,000 on kitchen and £3,000 on bathroom you will have a much better chance of selling the flat

anselld

dimbo61 wrote: »

You need a gas safe engineer to install the [STRIKE]central heating and[/STRIKE] boiler

... however I would agree it is probably best to sell; refurb properties are in demand at auction.