Selling a house that's in need of modernisation

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fossyant

Ride It Like You Stole It!
Location
South Manchester
MIL is in a nursing care home. We're currently organising the deferred charge on the house, but think we might hit a small snag/additional expense as it's not registered with the land registry - bought before the time it should be registered. 4 bed detatched, brick conservatory, garage and reasonable sized gardens.

The house was built in 1969. The Kitchen and bathroom are old and knackered and needs completely re-doing. Downstairs loo has a specialist toilet (will need swapping back to the standard one). Wiring, whilst it has a newish consumer unit, might need completely re-wiring. Carpets and decor is old fashioned, and has polystyrene tiles in a couple of upstairs rooms. We will have to strip out the disability 'aids' and stair lift and front ramp etc.

We are all 'time crunched' - two sisters self employed & my wife full time. Would you aim to sell as it is (nothing wrong and livable) or attend to stuff like a re-wire (it's a spaghetti junction TBF). We'd leave the kitchen and bathroom as people have their own taste.

The house needs 'emptying' as well, and I suspect this will take a few months. Depends upon if a stack of work will recover cost. MIL has limited savings though to complete this work (could do a £5k re-wire) , and none of the family can invest 000's into it.

Tempted to clear and clean it and sold as seen.
 
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Milkfloat

An Peanut
Location
Midlands
My personal view is to do exactly as you say 'to clear and clean it and sold as seen. ' Anyone that buys the house will want to put their own touch on it and unless you can do the work at a cut price you are unlikely to see any of it back. You also need to think about tax implications such as Stamp Duty if you do increase the value.
 

slowmotion

Quite dreadful
Location
lost somewhere
MIL is in a nursing care home. We're currently organising the deferred charge on the house, but think we might hit a small snag/additional expense as it's not registered with the land registry - bought before the time it should be registered. 4 bed detatched, brick conservatory, garage and reasonable sized gardens.

The house was built in 1969. The Kitchen and bathroom are old and knackered and needs completely re-doing. Downstairs loo has a specialist toilet (will need swapping back to the standard one). Wiring, whilst it has a newish consumer unit, might need completely re-wiring. Carpets and decor is old fashioned, and has polystyrene tiles in a couple of upstairs rooms. We will have to strip out the disability 'aids' and stair lift, front tramp etc.

We are all 'time crunched' - two sisters self employed & my wife full time. Would you aim to sell as it is (nothing wrong and livable) or attend to stuff like a re-wire (it's a spaghetti junction TBF). We'd leave the kitchen and bathroom as people have their own taste.

The house needs 'emptying' as well, and I suspect this will take a few months. Depends upon if a stack of work will recover cost. MIL has limited savings though to complete this work (could do a £5k re-wire) , and none of the family can invest 000's into it.

Tempted to clear and clean it and sold as seen.
I think that most people who buy a house want to knock it about and personalise it. Personally, I don't think that spending money on it to tart it up makes financial sense.

Edit: Sorry, I missed the previous posts that say the same.
 
OP
OP
fossyant

fossyant

Ride It Like You Stole It!
Location
South Manchester
£5k at a re-wire is silly money considering we'd not benefit, might get cost back, but sockets etc might not suit the new owner (plus pointless if kitchen needs changing).
 
Another vote for leave it as it is, someone will buy it. I bought a house a year ago and it was in a real state ( electrical cables hanging out of the walls and holes in the kitchen ceiling) but was over 10K below market price. I have only just started getting around to getting all the work done. Brand new kitchen, complete kitchen re-plaster all the electrics re-done and utility room plastered and new toilet/washbasin. Roughly 15k, but its will be to my taste. I am doing NONE of the work ie using a builder. So if the previous owner had done similar he would not have got his money back.
 

sleuthey

Legendary Member
Unless the buyer commissions a bespoke electrical survey, I think it is extremely unlikely that any surveyor will go testing the circuits when doing one if the surveys commonly undertaken. They will just report on the type of consumer unit and no. Of sockets in each room etc.
 
D

Deleted member 26715

Guest
If as you say it was built in 1969 it will not have anywhere near the number of sockets required for today's world, so re-wiring unless it's dangerous is just a waste of money. Let somebody look at the bare bones & buy it as is, if they want to spend the money let them. It's also like the boiler unless it's brand spanking new the surveyor will also probably mark it down.
 
OP
OP
fossyant

fossyant

Ride It Like You Stole It!
Location
South Manchester
If as you say it was built in 1969 it will not have anywhere near the number of sockets required for today's world, so re-wiring unless it's dangerous is just a waste of money. Let somebody look at the bare bones & buy it as is, if they want to spend the money let them. It's also like the boiler unless it's brand spanking new the surveyor will also probably mark it down.

Funny thing is, my missus is round the house now waiting for the BG engineer for the boiler. It's packed up after a power trip and won't re-start. Another reason to sell, the house has been empty 10 months.
 

Lozz360

Veteran
Location
Oxfordshire
All houses are 'sold as seen'.
Or subject to survey.

I get the impression that there are very few properties now that are sold "in need of modernisation". Thanks to TV programmes such as Homes Under the Hammer everyone is an amateur property developer and houses that someone can add value to by installing a cheap kitchen and bathroom and decorate throughout, then sell on for a profit seem to be in short supply. At least they are where I come from. If you haven't got the time, money or inclination to do this, then as others have said, sell it as it is.
 
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