Is it worth doing up my home to sell?
I live in a big 4 bedroomed detached Edwardian house that is in desperate need of renovation. I am looking to sell in about 2 years time. Is it worth doing up or would it be better to approach a developer as there is a lot of regeneration in my area at the moment?
Asked on Mar 2 2010,
Selling in Gillingham |
I would recommend you invite a residential estate agent to value your home for sale by private treaty this will help you to ascertain the difference between value in current condition and once it has been refurbished. This way you can ascertain if it is viable financially to refurbish your self, however in my experience there is very little profit, if any in a private individual paying out for works to there home. In the past most peoples perceived profited from refurbishing a property is solely down to a rising market. Auctioning the property may prove to be the best route as it will expose your property it developers for regeneration, refurbishment projects as well as private individuals and could achieve you a significantly higher figure than sale by private treaty.
Answered on Mar 3 2010,
I would certainly recommend speaking to an expert local agent and getting a valuation in its current condition. With an older property, there can be many problems that dont appear on the surface, so if you wanted to refurbish it to modern standards to achieve a higher sale price, you may be caught out with having to spend a lot more money than first anticipated, and end up being out of pocket.
Answered on Mar 10 2010,
Agree with the answers below, Edwardian houses are normally well layed out and have great features so there is a demand for that type of property.
The market has changed somewhat where there used to be a definite value to buying properties that need doing up, now a lot of people will buy houses like this and do the work themselves with the end plan to live there.
Speak to a few agents and see what they think the difference in values are, then speak to a builder and see if you can get the work done at a sufficiently less figure.
Loft conversions, new flooring, painting etc.. can add value without costing the world. Consider this.
Answered on Mar 18 2010,
It is hard to speculate market conditions in two years time. Having said that my advice will be that weather the market is strong or slow if your property is in a good tidy condition, there will be a better chance of a sale. Putting a property on the market in need of "desperate renovation" will lead to cheeky offers below value by 20 to £40,000. Unless you are willing to accept such offers, it may be an idea to start doing small cosmetic enhancement that will not cost too much. The idea is to make your property look clean, neutral and maybe leave same potential for the purchaser. This will then open the market to all buyers such as first, movers or builders. This way you stand to get the best from all angles.
Answered on Mar 21 2011,
Hello, I know this is a very late answer but I thought I'd inform you that the rental market is fantastic in the Gillingham area.
Answered on Aug 2 2013,
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