Family home - renovate prior to sale or cheap for quicker sale

Crashy_Time

Robby1988 said:

I personally would clear the whole house out, take down all the curtains and pull up all the carpets. Give it a good deep clean & then just sell it has a blank empty canvas for someone. If it obviously needs stuff like rewiring doing, thats messy work involving plaster being ripped off so decoration is pretty pointless.

If the house is otherwise structurally sound, there are always people about who like a bargain & a renovation project.

Exactly....

lincroft1710

Vasquez65 said:

It’s on the market as a ‘fixer upper’  but every viewing has had the same feedback - ‘needs a lot of work’ 
Well yes, that’s why it’s £20k  lower than it would be if modern and perfect.

 

Probably viewers were pricing the work required at £30K, so uneconomic, or £20K so they might as well buy one modern and perfect and save the hassle.

Vasquez65

The thing with our village is,  you can’t actually buy a comparable house for 20k more,  my Dad’s is a massive 3 bed semi, one of only 10 built in the 60’s when the village first expanded and the first one to come up for sale in quite a few years.  To get the same sized house would cost £50-£80k more , a mile away in any direction.
Our 3 bed house, in a cul de sac behind his, is 10 years younger and a good 4 feet narrower would be £20k more because it’s well presented with a garage and a conservatory but it’s significantly smaller, without the open countryside view of my Dad’s. 

I can’t understand why we haven’t had more interest,  you literally can’t buy a comparable house for £140k within 5 miles. 

Crashy_Time

Vasquez65 said:

The thing with our village is,  you can’t actually buy a comparable house for 20k more,  my Dad’s is a massive 3 bed semi, one of only 10 built in the 60’s when the village first expanded and the first one to come up for sale in quite a few years.  To get the same sized house would cost £50-£80k more , a mile away in any direction.
Our 3 bed house, in a cul de sac behind his, is 10 years younger and a good 4 feet narrower would be £20k more because it’s well presented with a garage and a conservatory but it’s significantly smaller, without the open countryside view of my Dad’s. 

I can’t understand why we haven’t had more interest,  you literally can’t buy a comparable house for £140k within 5 miles. 

When did the last house sell in the village?

Speedbird676

Robby1988 said:

I personally would clear the whole house out, take down all the curtains and pull up all the carpets. Give it a good deep clean & then just sell it has a blank empty canvas for someone. If it obviously needs stuff like rewiring doing, thats messy work involving plaster being ripped off so decoration is pretty pointless.

If the house is otherwise structurally sound, there are always people about who like a bargain & a renovation project.

Second this.

I did the same when I sold my dad's place after he passed away. It would have needed a full top to bottom refurb, new boiler, central heating (it still had storage heaters from the 60s-70s), double glazing, rewire. The amount of investment far outweighed the estimated gain in sale price, not to mention the time and stress of such a big project.

The new owners have completely transformed the place - new loft conversion, side and rear extension.

frogglet

We just emptied our parents house, cleaned it and sold it as is. It would have been a mega task to update it.
The people buying it  wanted a big house but didn't want a big mortgage.

Crashy_Time

frogglet said:

We just emptied our parents house, cleaned it and sold it as is. It would have been a mega task to update it.
The people buying it  wanted a big house but didn't want a big mortgage.

The political party that campaigns on that slogan will get my vote (and probably a few million others)