If not already said,advised to maintain the house Insurance on the property until sold.
BC.
BC.
Doing up House advice.
- Thread starter martin_b
- Start date
Ask yourself some pretty straightforward questions:
If the honest answer to any of the above is “No”, get it sold now, as is.
Renovation and decorating is a very personal thing. On the one hand you might turn out to be the love child of Kirstie Allsopp and Tommy Walsh, and add £50,000 to the selling price. But what if instead you’re the red-headed stepchild of Katie Price and Kenny Everett?
Is it worth putting it to the test?
- Do you intend to live there?
- Can you do the work yourself?
- Are you currently employed as an interior designer?
- Are you currently employed as a project manager?
- Will you enjoy organising the necessary tradesmen to visit, questioning their quotes (if/when they arrive), chasing them up to start/complete the work, checking the quality of the job once completed, and pushing them to fix the inevitable snag list?
- Can you afford to self-fund the project for double the cost it originally gets estimated at?
- Will you be happy if you’re still not ready, willing or able to sell the house in 3 months/6 months/12 months time?
If the honest answer to any of the above is “No”, get it sold now, as is.
Renovation and decorating is a very personal thing. On the one hand you might turn out to be the love child of Kirstie Allsopp and Tommy Walsh, and add £50,000 to the selling price. But what if instead you’re the red-headed stepchild of Katie Price and Kenny Everett?
Is it worth putting it to the test?
Bavarianbrit
Well-Known Member
Been through the renovate a bought at auction job.
All the quotes were around £60K to bring it up to a sale/rent spec. My purchase at auction plus the £60K put the end product well over the street value so I sold it as is, took over a year to shift it and I lost almost 30K. Bought another one then at auction with that money plus a bit that already had a sitting tenant and they are still in and the house has gone from my £143K cost to a "zoopla now" estimate of £185K in just 9 months. Swings and roundabouts. You could also just pay the standing charges and council tax and sit on it empty as it will increase in value far more than the £2-3K per year of that cost.
All the quotes were around £60K to bring it up to a sale/rent spec. My purchase at auction plus the £60K put the end product well over the street value so I sold it as is, took over a year to shift it and I lost almost 30K. Bought another one then at auction with that money plus a bit that already had a sitting tenant and they are still in and the house has gone from my £143K cost to a "zoopla now" estimate of £185K in just 9 months. Swings and roundabouts. You could also just pay the standing charges and council tax and sit on it empty as it will increase in value far more than the £2-3K per year of that cost.
Hi all good advice, i'm a builder.
To value it look up and down the street check zoopla etc for current recent house sales and any others
for sale at moment, most streets have had a mix of houses as you describe yours and done up houses.
Check for highest value of house on street that has ever been sold and why, has it had an extension/ garage/ conservatory etc
if so get rough estimate from builder and do some maths. just bare in mind as previous comments(cost investment time stress)
Sorry for your loss and good luck.
To value it look up and down the street check zoopla etc for current recent house sales and any others
for sale at moment, most streets have had a mix of houses as you describe yours and done up houses.
Check for highest value of house on street that has ever been sold and why, has it had an extension/ garage/ conservatory etc
if so get rough estimate from builder and do some maths. just bare in mind as previous comments(cost investment time stress)
Sorry for your loss and good luck.
Get an electrical installation condition report ((EICR) done should cost around £200-£250)
It will probably give an unsatisfactory report! then ask for a estimate to rectify.
Solicitors seem to be asking for one almost every time .
Shame you’re not closer as I could have called in to check it !
Pete
It will probably give an unsatisfactory report! then ask for a estimate to rectify.
Solicitors seem to be asking for one almost every time .
Shame you’re not closer as I could have called in to check it !
Pete
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