Help needed with house problem

TBagpuss

As others have said, it's worth getting a couple of agents in to provide marketing appraisals. They won't, normally, comment on the condition of the property but f you specifically say that you're aware that the kitchen / bathroom etc are outdated and ask them about the likely effect on the price if you were to that, they will be able to advise you.

I think it does depend a bit on the type of property - given the price you mention, I'd guess that yours is a 'starter home' type property - I think that first time buyers looking to get onto the property ladder are more likely to be open to buying a property which needs work (especially if the work needed is mostly cosmetic) as they are likely to be on a tight budget and more open to doing some work themselves.

I was in a similar position when I last moved - my kitchen and bathroom were both dated and overdue for replacing, as was the boiler.

I got quotes for the work. I then looked at similar properties which had been updated, and it seemed to me that the cost of doing the work would be equal to or greater than the extra I might get on sale. The agents I spoke to also advised that doing the work was not likely to do more than pay for itself.

I sold without doing the work first. Partly because I didn't want the hassle, but also because I felt things were likely to snowball - it only takes one thing to be more complex than expected for the costs to exceed the gain.

And when I was house-hunting, I bought a house with dated decor, and a boiler and bathroom which needed updating, as I'd rather get the work done myself, so I can have it to my own taste, and know that work has been done to a good standard, and with good quality fixtures.

vfm

We have just sold an inherited house that needed everything doing to it. As it was in a good area we were approached by two parties to buy who both said not to do anything to the property as they were happy to buy it as it was. We got a good price and the people who bought were happy as they can now make improvements to there taste. Therefore I would try to sell as it is, if it doesn't sell take it off the market carry out improvements then remarket. We were surprise at how much we got just by cleaning, dressing, decluttering and presenting the house to it's best.

eddddy

I'm sure it depends on your target market... but FWIW an EA recently said to me that, based on their experience...

Don't replace the kitchen, because buyers will be excited about the idea of choosing their own new kitchen (and they might not like your choice of new kitchen anyway).

Do replace the bathroom, because the prospective 'lady of the house' won't like the thought of using a grubby bathroom (the thought of somebody else's grime etc) - and is therefore more likely to veto a house with a 'nasty' bathroom.


But who knows?