Does renovation help in getting more profit out of house selling

ChrisCandel

Hey MoneySavingExpert Community, 
could you give some tips (some relavant articles will be much appreciated) on how to increase the price of the house for sale by means of redecoration/ rennovation.Naturally I don't want to spend a fortune for that. Thank you in advance

oldbikebloke

would you pay extra for a coat of paint if you were the buyer?

MovingForwards

Depends on what 'renovation' you do. 

Rewiring  veryold wiring, maybe.
Replacing a kitchen / bathroom for what's currently in fashion, probably not.
Adding double glazing and GCH where there already isn't any, probably.

Decorating? Paint and wallpaper? No, as that's just visual and probably not to 99% of buyers tastes.

Be easier if you say what your plans are as often it's best to leave things as they are as you won't recoup your money.

ChrisCandel

oldbikebloke said:

would you pay extra for a coat of paint if you were the buyer?

I think it depends. Personally I would. I hate buying stuff I have to invest time, money and effort into. I enjoy a ready-to-use products. But it is only my personal position.
I have too many questions myself, so I would appreciate the answers.
My house is in a pretty bad condition, so I think I would renovate it anyway, since because of the crisis the selling probably gonna be postponed for a long time. I just wanted to get some tips how to get more money out of it in the end

Slithery

The general rule for basic renovation is that it won't increase the price, but will make it easier to sell.

Comms69

It broadly depends on what was there and what isnt there.

You could in theory increase the price by ripping out the kitchen and the bathroom if both are ancient. Some buyers would love nothing more than a blank space to fill. 

It depends on your market. (and on the area)

ChrisCandel

I was thinking about rewiring and redecoration of outside paint and all the stuff inside (like wallpaper, floors).. But the kitchen and bathroom  are really in the poor condition too, so I still hesitate about leaving them like they are or renovate

Crashy_Time

At the moment anything other than a lick of paint is probably dead money IMO.

ChrisCandel

Comms69 said:

It depends on your market. (and on the area)

North London, Cockfosters

ChrisCandel

Crashy_Time said:

At the moment anything other than a lick of paint is probably dead money IMO.

Yeah.. that's what I was afraid of   

RelievedSheff

We gave our old house a quick freshen up with a coat of paint in hallway, kitchen and bathroom.

Must have helped because the developers gave us a very good part exchange price and then when they marketed it for sale (while we were still living in it) it sold in a couple of days.