What is involved in a house valuation?

Slithery

FashionHeart said:
Isn't the whole reason why people refurb a house is to make it more appealing to buyers when they sell?!

No. It's to make it a more enjoyable place to live for the current owners.
Why spend money on something that you're not going to get any use out of?

FashionHeart

Mahsroh said:

I’m going to offer an alternative view on the kitchen as I don’t think it’s a clear cut as other posters are making out. 

Generally I agree it’s a bad idea, but check with the EA. For me it depends on the type of property. Is it likely to appeal more to first time buyers (ie a flat or small house)? If so it *might* be worth it depending on the cost. When I was a FTB I knew I wasn’t going to have spare cash after completing to overhaul kitchens and bathrooms so was generally looking for something that had fairly new / modern facilities that I could live with for several years. Anything that had a 20 year old kitchen that needed ripping out was dismissed, because I knew I couldn’t afford to do it. If it’s a bigger / more expensive family home then I agree don’t even entertain it. 

See what the EA says. 

Well its going to be a simple shaker kitchen.
Nothing too bold or too over the top apart from the chimney cooker hood and integrated oven which are luxurious brands.
Furthermore it won't cost much either, it's about £5k from B&Q.

The whole reason for the refurb is so that people won't complain of having to knock the price down when I do sell because it needs work done.

I'm clearly receiving mixed opinions about my decisions on this...

user1977

Knocking down the price for essential repairs is one thing, but does the kitchen actually need replaced? Or is it just a bit tired /dated? If the latter then a new kitchen is unlikely to add much to an objective valuation, though it's possible it will improve kerb appeal for some buyers. 

p00hsticks

Mahsroh said:

When I was a FTB I knew I wasn’t going to have spare cash after completing to overhaul kitchens and bathrooms so was generally looking for something that had fairly new / modern facilities that I could live with for several years. Anything that had a 20 year old kitchen that needed ripping out was dismissed, because I knew I couldn’t afford to do it.

Apart from the possibility of not having plumbing for a new-fangled dishwasher appliance and one of those boiling water taps, I'd suggest that a twenty year old kitchen generally has exactly the same facilities as a brand new one does, but slightly more tired looking - nothing a FTB couldn't live with for several years unti lthey coudl afford to do it up.

Hodge58

A kitchen is a subjective thing and a buyer may not like it and won't offer what you hope for. Forget kitchen unless its too late 

getmore4less

p00hsticks said:

Usually you get a few estate agents round and they'll have a quick wander round, ask a few questions and then tell you what they'd put in on the market for and what they think you'll get (not necessarily the same thing!)

Why are you having the kitchen refurbed if you are planning on selling ? You almost certainly won't get the money you spend on it back in increased value, although it may make it more saleable.

Effectively a finger in the air based on what's in their head from current market, often with a bit added to try and get business.

Do your own research.

Stick your post code in rightmove and map out what places like yours are on at.
Look at for sale, sstc and sold through real sales on the land registry.

See what people are probably paying and what is popular.

Then compare yours to the market as if you were a buyer.
Stick it in the pecking order.

If a common property type is should be easy if a bit unique or some specific location like near a station it can get a bit harder.

Can be useful to price the range of the size down or up.

Eg the top end of 2 beds often overlaps the bottom end of 3 beds giving a ceiling to 2 bed prices.
Something like decent parking may add value if generally not available.

........

musehead

Mahsroh said:

I’m going to offer an alternative view on the kitchen as I don’t think it’s a clear cut as other posters are making out. 

Generally I agree it’s a bad idea, but check with the EA. For me it depends on the type of property. Is it likely to appeal more to first time buyers (ie a flat or small house)? If so it *might* be worth it depending on the cost. When I was a FTB I knew I wasn’t going to have spare cash after completing to overhaul kitchens and bathrooms so was generally looking for something that had fairly new / modern facilities that I could live with for several years. Anything that had a 20 year old kitchen that needed ripping out was dismissed, because I knew I couldn’t afford to do it. If it’s a bigger / more expensive family home then I agree don’t even entertain it. 

See what the EA says. 

I agree with this, it depends on the circumstances.

In my case, the kitchen was in a poor state, looked cheap and dated but didn't need ripping out completely. I refurbished it myself - painted the cupboards, new handles, put in a new worktop, sink and appliances, ripped off the old tiles and re-tiled the walls, added some extra shelves, and other minor cosmetic improvements. Upgraded to a ceramic sink with quality tap and solid wood worktop so it now has a more premium feel (before was a cheapo stainless steel sink and water-damaged laminate). Spent about £1500 in total. It's a London flat, so this is a small % of the sale price.

My flat was the kind of place a youngish FTB would go for, who would probably be looking for somewhere in good shape they can move into straight away without having to renovate. I'm certain that my work on the kitchen made good first impressions on the viewers and made the flat much easier to sell.

Murphybear

We put a new kitchen in the lovely bungalow we bought and  later sold it as we moved 200 miles away.  The friendly next door neighbour phoned me for a chat (she missed me it seems  ) and told me he’d ripped out our lovely newish kitchen and replaced it.  

Thrugelmir

To give our current kitchen a fresh look after 12 years we simply changed the doors etc. That's the beauty of having white carcassess. Coat of paint on the walls and ceilings. Job done. Including a fitter recommended by Howdens less than £2k for the entire works. 

youth_leader

Please do save your money for your onward purchase. 

I spent thousands on various renovations when I sold my house, didn't get the price I'd hoped for,  and am now faced with an unexpected £10K bill because the floors here need extensive investigation.