Home improvements for selling

[zico]

I've inherited my father's detached bungalow which hasn't been maintained/updated for quite a few years. There are some thin cracks in some walls and ceilings, areas of potential damp patches, leaky guttering, and it's generally old-fashioned.
I could do superficial updating (i.e. redecorating, new carpets, modern lights) but would appreciate ideas on what's worth doing, or indeed, if I should do anything, before trying to sell the house.

[Lootman]

I've inherited my father's detached bungalow which hasn't been maintained/updated for quite a few years. There are some thin cracks in some walls and ceilings, areas of potential damp patches, leaky guttering, and it's generally old-fashioned.

I could do superficial updating (i.e. redecorating, new carpets, modern lights) but would appreciate ideas on what's worth doing, or indeed, if I should do anything, before trying to sell the house.

My general rule of thumb is to sell as-is. The rationale is that what you or I think might "improve" the property may not be to the taste of a prospective buyer. It may even devalue it in their eyes.

And there is a value to be attached to any home that is in original condition, even if that means lino, formica and an avocado bathroom suite.

My eldest son bought a house that had been in the same hands for 60 years. It was dated and horrible, but all he cared about was the potential, not the condition.

[staffordian]

I agree with Lootman. Short of a total refurb, any superficial tarting up may well be counter productive. Not only for the reasons Lootman suggested, but prospective buyers may be put off, thinking serious problems have been glossed over, and not only metaphorically...

For peace of mind, it might be worth getting a couple of estate agent valuations, and ask their thoughts too on the pros and cons of any improvements

[Dod101]

In my part of the world, a developer would buy the property for its site and just demolish it so they would not care what state it was in.

But I would not spend any money on it anyway. It is probably more attractive to many as is so that they can put their own stamp on it with feeling that they are 'wasting' previous improvements.

Dod

[BullDog]

Yes I was in this situation last year. Sell it as it is. Majority of people will change stuff anyway and if you speak to the estate agents about it they'll tell you it's by no means uncommon for kitchens and bathrooms to be removed and replaced even if they were new only a short time before sale.

[AF62]

Detached bungalow - depends on location, but in an awful lot of places in the southeast then that is just going to be demolished by a developer to be replaced by something more profitable.

Even if it is going to remain standing, then it isn't worth spending any money on 'improvements' for the reasons others have said, but it is likely worth spending a small amount (hundreds at most) dealing with anything that is a quick fix and the buyer would knock a thousand or two off to fix - i.e. a few pounds to clean out the gutters to stop them overflowing or hiring an industrial mower if the garden is overgrown.

[Gerry557]

I tried selling a tired property that had been rented. Only got silly offers.

Put in new modern bathroom and kitchen, painted magnolia through out with new carpets.

It sold before advertised and had several more offers and for much for more than I spent thus making a profit on the refurbishment.

I'm not sure if just buying "nice" is what people do today rather than a project.

Of course things might have changed more recently with interest rate rises.

Another property sold "as is" after a couple put a note through the door. I think that was just a bit of luck getting a committed buyer wanting that area just at the right time. Probably peak pricing last August. Sold direct no agent which saved a few £k too.

Look at what's gone on recently and get a feel for the market to get an expected price. Some agents will ask what others have done and try and out do them but I'd rather have a realistic agent than one that over promised and under delivered.

It also depends on how quick you need to move. Quickest sale or highest price sale.

[BullDog]

I tried selling a tired property that had been rented. Only got silly offers.

Put in new modern bathroom and kitchen, painted magnolia through out with new carpets.

It sold before advertised and had several more offers and for much for more than I spent thus making a profit on the refurbishment.

I'm not sure if just buying "nice" is what people do today rather than a project.

Of course things might have changed more recently with interest rate rises.

Another property sold "as is" after a couple put a note through the door. I think that was just a bit of luck getting a committed buyer wanting that area just at the right time. Probably peak pricing last August. Sold direct no agent which saved a few £k too.

Look at what's gone on recently and get a feel for the market to get an expected price. Some agents will ask what others have done and try and out do them but I'd rather have a realistic agent than one that over promised and under delivered.

It also depends on how quick you need to move. Quickest sale or highest price sale.

Indeed, in just a few months, property in our village seems to have gone from multiple sealed bids within a few days of hitting the market to zero interest. I don't think I can remember previous boom and bust cycles ending this quickly.

[MyNameIsUrl]

I would agree with those who say don't spend any significant money on updating. There are those - like Gerry - who can make money by improving a property but you have to know what you're doing.

I think you should try to see in what ways the property looks 'dated' as opposed to 'neglected', and consider fixing 'neglect' (eg gutters full of moss) but not dated (old bathroom).

It's a difficult market at the moment and maybe you will be attracting developers who will demolish and rebuild. They will want a bargain though.

[Gerry557]

I tried selling a tired property that had been rented. Only got silly offers.

Put in new modern bathroom and kitchen, painted magnolia through out with new carpets.

It sold before advertised and had several more offers and for much for more than I spent thus making a profit on the refurbishment.

I'm not sure if just buying "nice" is what people do today rather than a project.

Of course things might have changed more recently with interest rate rises.

Another property sold "as is" after a couple put a note through the door. I think that was just a bit of luck getting a committed buyer wanting that area just at the right time. Probably peak pricing last August. Sold direct no agent which saved a few £k too.

Look at what's gone on recently and get a feel for the market to get an expected price. Some agents will ask what others have done and try and out do them but I'd rather have a realistic agent than one that over promised and under delivered.

It also depends on how quick you need to move. Quickest sale or highest price sale.

Indeed, in just a few months, property in our village seems to have gone from multiple sealed bids within a few days of hitting the market to zero interest. I don't think I can remember previous boom and bust cycles ending this quickly.

Back in the end of the 80's boom n bust. I remember 50% negative equity figures. Dinner parties were all house prices. Although you can't really spend a grand rise in house price but some people thought they could.

A house will sell for the right price but that might be lower than the seller wants. It always makes me wonder when you see sales that have been going on for years or repeat new listing that you have seen before.

The run up to Christmas isn't the best time to sell although I've seen new listings on Christmas day! Spring tends to do better.

[Neutrino]

If the property has gas heating a recent service/inspection report will be requested with the seller's Property Information Form and will reassure the buyer.

Replacing any incandescent light bulbs with LED is an easy way to get a better EPC (Energy Performance Certificate) rating.

[BullDog]

I tried selling a tired property that had been rented. Only got silly offers.

Put in new modern bathroom and kitchen, painted magnolia through out with new carpets.

It sold before advertised and had several more offers and for much for more than I spent thus making a profit on the refurbishment.

I'm not sure if just buying "nice" is what people do today rather than a project.

Of course things might have changed more recently with interest rate rises.

Another property sold "as is" after a couple put a note through the door. I think that was just a bit of luck getting a committed buyer wanting that area just at the right time. Probably peak pricing last August. Sold direct no agent which saved a few £k too.

Look at what's gone on recently and get a feel for the market to get an expected price. Some agents will ask what others have done and try and out do them but I'd rather have a realistic agent than one that over promised and under delivered.

It also depends on how quick you need to move. Quickest sale or highest price sale.

Indeed, in just a few months, property in our village seems to have gone from multiple sealed bids within a few days of hitting the market to zero interest. I don't think I can remember previous boom and bust cycles ending this quickly.

Back in the end of the 80's boom n bust. I remember 50% negative equity figures. Dinner parties were all house prices. Although you can't really spend a grand rise in house price but some people thought they could.

A house will sell for the right price but that might be lower than the seller wants. It always makes me wonder when you see sales that have been going on for years or repeat new listing that you have seen before.

The run up to Christmas isn't the best time to sell although I've seen new listings on Christmas day! Spring tends to do better.

Agree on all points. I well remember the only topic of conversation down the pub around 1986-87 was how people had "earned" more money that month from their house than they had by working.

[DrFfybes]

I would agree with those who say don't spend any significant money on updating. There are those - like Gerry - who can make money by improving a property but you have to know what you're doing.

I think you should try to see in what ways the property looks 'dated' as opposed to 'neglected', and consider fixing 'neglect' (eg gutters full of moss) but not dated (old bathroom).

Spot on - you have to decide if you want to become a property renovator, and if not, don't start. You'll probably end up selling it to a Homes Under The Hammer type anyway Also any 'profit' from your work will become part of the estate so there could be tax implications.

Make it clean, tidy (inside and out if possible), make sure all the lights work, curtains are open, taps and toilets don't drip, etc. And in the current market be prepare for some chancers.

Paul

[88V8]

There are some thin cracks in some walls and ceilings, areas of potential damp patches, leaky guttering, and it's generally old-fashioned.
I could do superficial updating (i.e. redecorating, new carpets, modern lights) but would appreciate ideas on what's worth doing, or indeed, if I should do anything, before trying to sell the house.

Good point about LEDS and the EPC.

A professional full clean is worthwhile. Oven, bathroom, carpets, curtains, the works. Make it smell 'nice'.

I would attend to anything like guttering, anything that looks like hard work to the average lazy incompetent buyer....

The frontage is important. By the time they get to the front door many buyers will have decided....

Keep the garden tidy, don't leave it weeks then blitz it... a neglected garden turns an asset into a liability.

If you can, provide some minimal heating so it doesn't feel like walking into a fridge.

Otherwise, dress it well. Make sure each room is well furnished, cushions, pictures on the wall, knick knacks. Lay the dining table.
Put some stuff on the worktops, apples in a bowl. Soap in the bathroom. As if the owner just stepped out.... If there is a deficiency in furniture, for instance empty bedrooms, take some furniture there from your own house or buy some in a charity shop. Nothing undermines sales potential like an empty house especially if the decorations are tired.

Oh, and a daily coffee bean under the grill will do no harm.

Ask an estate agent... nah, they just want a quick sale. The extra £10,000 on the sale price that would repay you, means nothing to them. They want throughput, that's all.
But do fully prepare the house before inviting any agent... first impressions are lasting impressions and if you show them sad and tatty that's how they will price it and describe it, regardless what you then do before it actually goes on the market.

V8

[88V8]

There are some thin cracks in some walls and ceilings, areas of potential damp patches, leaky guttering, and it's generally old-fashioned.
I could do superficial updating (i.e. redecorating, new carpets, modern lights) but would appreciate ideas on what's worth doing, or indeed, if I should do anything, before trying to sell the house.

Good point about LEDS and the EPC.

In fact, considering that some lenders will not consider houses below a certain EPC threshhold, I would also look in the attic and see if some topping-up would be worthwhile.

V8

[zico]

Many thanks for your helpful replies, especially about furniture, because I'd have thought that less furniture would be a good thing, as the rooms would look bigger.

Would it be a good idea to reduce the furniture in some rooms though? I'm thinking that bedrooms without large wall-to-wall wardrobes would look better, as long as there was a bed and bedside table, with possibly a chest of drawers. (Show homes always seem to have some furniture, but a lot less than would be needed for anyone actually living there.)

When to sell? That's the next big question I have, so would appreciate your input. I'll need to fix the small patches of damp on a main room first. I'm not in a desperate rush to sell, but don't want to put the house on the market when there's very little interest. So, put it on in January, or wait until March/April? I'd obviously prefer to have it sold sooner rather than later, but it seems like it might be worth waiting a while to be able to have it as a "new to market" property that coincides with when more buyers are about. I'm concerned that putting it on in mid-winter might deter potential future buyers if it doesn't get offers early, thinking there must be a problem with it.

The house's big selling point is the view from the lounge, which is a big window over open farmland, and in winter you can see trees a mile away. In summer, the view is more restricted because there are 2 sycamores which block out the views when they are in leaf, but then it's private. The house is also 300 hundred yards away from a high school, and it's situated at a quiet end of a nice village with nearby motorway links to M6/M58 and easy access to Liverpool and Manchester.

I've had 2 estate agents around, one of whom suggested "offers over X" and the other suggested "offers around 10% less than X" (but the second person just seemed keen on an ultra-quick sale saying "Boxing Day is the busiest time for house viewings" and so on.
They didn't think the property was bad, though obviously it is dated, and thought it would be best to sell it in its current condition.
(The second person did show us a comparable property that had increased in value by £150k after having about £80k spent on it, but as already mentioned in this thread, you need to know what you're doing to renovate to that extent, and we're not looking for a big time-consuming project).

Another option I want to pursue is buying the land at the back of the next-door sub-station. Currently we pay £1/year rent to have access to this area, but I think that owning the land would increase the value of the house.
Getting in touch with the right bit of Scottish Power however, seems to be very difficult. Can anyone suggest how I might be able to find out who to contact in Scottish Power about this?

[MyNameIsUrl]

When to sell? That's the next big question I have, so would appreciate your input. I'll need to fix the small patches of damp on a main room first. I'm not in a desperate rush to sell, but don't want to put the house on the market when there's very little interest. So, put it on in January, or wait until March/April? I'd obviously prefer to have it sold sooner rather than later, but it seems like it might be worth waiting a while to be able to have it as a "new to market" property that coincides with when more buyers are about. I'm concerned that putting it on in mid-winter might deter potential future buyers if it doesn't get offers early, thinking there must be a problem with it.

My impression is that nowadays people visit relatively few houses - the majority of the 'viewing' is done online, and people will have plenty of browsing time over the winter evenings. You do need to get good professional photos, especially of selling points like the good view.

You might also want to calculate how much the place is costing you each month just to sit empty, see if that has any influence on your decision.

[bluedonkey]

We are preparing to sell our property. An estate agent advised us to spend doing it up no more than X which should make us 3X extra on sale. In our case, X = 1% of the likely sale price.

[UncleEbenezer]

I could do superficial updating (i.e. redecorating, new carpets, modern lights) but would appreciate ideas on what's worth doing, or indeed, if I should do anything, before trying to sell the house.

Having spent most of my life renting, I'd call that the "rental look". A landlord tarts a place up to a generic standard. It may be about as exciting as a travelodge, but when the alternative is shabby and run-down, you take it. Subject to a few red lines, which grew as I got older and less desperate.

But looking to buy, I find the "rental look" depressing. The prospect of tearing out someone's shiny new carpets, kitchen, or windows as soon as I get around to redecorating feels so wasteful I don't want to go down that road, so it can put me right off a place.

[Hallucigenia]

ISTR reading one of those trashy articles that are based on a press release from Rightmove or similar, that suggested one of the very few improvements worth doing was installing a Hive/Nest-type heating controller. I imagine just generally at the moment, anything to do with reducing energy bills will be looked on favourably.

OTOH you do have to know your target market - if it's just going to be a developer knocking down a tatty bungalow then obviously you don't want to do much, if selling to downsizing elderly then you will want to make it more ready for habitation.