Help needed with house problem

yaweh

Hi i would like some advice about selling my house.When i bought the house i never looked at how much work needs doing,new kitchen,bathroom,windows ect as i had just split up with my partner and wanted somewhere close for my children.What i would like advice on is would i be better selling the house as it is or shall i borrow £10000 on my mortgage and get the work done.The house next door just sold for £110000, i paid £82000 for mine putting down £35000 so do you think its a good idea.I am looking to move closer to my children but i don't know whats best.

Thank's in advance for the help

martinthebandit

Get an estate agent round to value it as it is now and ask his advice re what work needs doing to increase its value

AnotherJoe

yaweh wrote: »

What i would like advice on is would i be better selling the house as it is or shall i borrow £10000 on my mortgage and get the work done.The house next door just sold for £110000, i paid £82000 for mine putting down £35000 so do you think its a good idea.I am looking to move closer to my children but i don't know whats best.

Thank's in advance for the help

Have you had quotes so that you know that "new kitchen,bathroom,windows" (and "etc") would cost £10k or is that a complete guess? Its a very round number.

I think the idea of getting an agent round is a good one but bear in mind if it needs a lot of work doing and you think that (for example) spending £10k on the house would add £20k to the value, if you bought a house that didn't need that work because someone else had already spent that £10k, you'd be paying the extra £20k on the price!

Doozergirl

Renovations always cost more than you think. Or rather, more than buyers think.

Unless you know there's a real 'profit' to be made, I'd be inclined to leave it. It is stressful and you won't be the one to enjoy it.

Get your valuations in and see what happens.

[Deleted User]

Obviously no idea how serious the problems are, but if you have any DIY skills yourself .., how much could you manage yourself? This could cut the cost. Obviously electrical and plumbing work needs a professional but there's a lot of other work you can find videos for on YouTube.

I've put in kitchens, bathrooms myself with just a little help from friends with the plumbing and electrical work (qualified professionals). My first attempt at tiling was not good lol..,but I learned quickly (YouTube vids weren't around then).

I buy good quality items in sales to get a better finish at a cheap price (I've bought marble finish floor tiles £30 a metre tiles for less than £8 a meter in a closing down sale that everyone admired), found a bath with taps for £100 online, a brand new kitchen sink in a car boot sale for £20 etc etc. In the Argos sale I purchased 2.5L cans of Johnsons paint for £6.99 or you can buy trade paint in the DIY stores and add colours. You can buy good quality room sized carpet remnants on ebay - I did 3 flights of stairs for £100 including long landings and the carpet was better quality than I'd ever had before lol.

kinger101

New kitchen, bathroom and windows for £10K. You'll be lucky. And when do you want the work to start? Most tradesman are booked up months in advance. And you should run away from the ones that aren't.

moneyistooshorttomention

Doozergirl wrote: »

Renovations always cost more than you think. Or rather, more than buyers think.

Unless you know there's a real 'profit' to be made, I'd be inclined to leave it. It is stressful and you won't be the one to enjoy it.

Get your valuations in and see what happens.

....and all that's assuming nothing goes wrong - eg builder turning out to be low-standard and/or unreliable and the general disruption to your life.

Personally - I wouldnt in your position - even if you live in an area of the country where there is plenty of workmen to choose from (which tends to raise the standard they will work to - because of the competition).

winspiration

Doozergirl wrote: »

Renovations always cost more than you think. Or rather, more than buyers think.

Unless you know there's a real 'profit' to be made, I'd be inclined to leave it. It is stressful and you won't be the one to enjoy it.

Get your valuations in and see what happens.

I agree with this. I'm looking at selling up to downsize in a couple of years time. I plan to declutter and spruce up including painting etc, but not to carry out major works.

Of course this will be reflected in the price of the house, but I won't have all the hassle, expense and disruption (can save that for the next place, if needed ). On the plus side from a buyer point of view, if they are going to rip out bathrooms / kitchen / recarpet etc, they can do it to their own taste / budget.

missbiggles1

yaweh wrote: »

Hi i would like some advice about selling my house.When i bought the house i never looked at how much work needs doing,new kitchen,bathroom,windows ect as i had just split up with my partner and wanted somewhere close for my children.What i would like advice on is would i be better selling the house as it is or shall i borrow £10000 on my mortgage and get the work done.The house next door just sold for £110000, i paid £82000 for mine putting down £35000 so do you think its a good idea.I am looking to move closer to my children but i don't know whats best.

Thank's in advance for the help

Needs or wants?

ERICS_MUM

Spending money doesn't necessarily add as much or more to the value of the house. Might make it easier to sell because it looks better but there's the risk that people don't like your taste and will want to rip out the kitchen especially when they move in.

Your estate agent will (should) know the local market - take advice before you do anything.

In my experience As long as the property is clean, neat and tidy and not cluttered it won't be worth spending tens of thousands. That's a big chunk on a property worth just over £100,000.

yaweh

Hi, thank you for the reply.This is just what i needed, good,solid advice and it's one i am going to follow:j