Trying to sell... new kitchen/bathroom necessary?

[hamncheese]

Selling our city centre tenement flat. Is all in good condition. Been on the market since February at an offers over price £5k less than the home report value. Had high expectations of achieving this at the start due to location but after a busy Feb/March/April and one offer (£20k under home report and too low to accept) May and June have seen only one viewing no other interest.

So we have changed it to a fixed price £6k less than the home report which is in line with properties in similar location. Comparably our property is much larger in terms of space (due to style) but less modern looking inside.

Quite a few pieces of feedback from viewers comes back saying that they are not interested as it needs the kitchen and/or bathroom done. Bathroom is white, plastic bath, with wood-line laminate floor. It's perfectly functional but not fancy... no floor tiles/special lighting/towel rail etc that is common in newly decked out bathrooms. Kitchen is a bit less conventional, pale green cupboards, grey worktops, again all working/good order but not the shiny modern stuff you'd have in a new one.

I was always under the impression that doing the kitchen/bathroom prior to selling would be throwing money down the drain and that people would be able to see past these things/ would rather do them in their own specific style when they moved in. I was hoping that the price change would add more interest (which it hasn't really, only one viewing in 3 weeks since the change) and that it would reflect the perceived need for a new kitchen and bathroom.

SO... advice as to whether new kitchen and bathroom will be necessary to sell? Or is this wasting money? Even if it is wasting money are we unlikely to sell as other similar properties tend to be newly built modern flats without an upgrade here? Also, when you view a property do you think you see past cosmetic things that would need changed?

I get the feeling the price change may mean more people view it who have less to spend on the property, but still similarly think it would need too much done.

Any advice welcome thanks :)

[CuddyMum]

Personally, I would prefer to put the new kitchen and bathroom in myself. It's good to have a project. Do you have a link to the details?

[annalouiseh]

if putting a new bathroom and kitchen in will help you sell the house quicker and get you what you want for it (once included the price of doing these)
then do it, if not then no.
If someone buys the house as it has a new kitchen and then changes it 2mnths after moving in, that wouldn't matter to you as you've moved on and wouldnt know.
Alot of people buy kitchens & bathrooms to sell. Alot of the time they get changed after purchase anyhow.....but might not of sold if they didn't have what they did to help sell. Silly but happens alot

[7to25]

Who has been looking at your flat?
These days, first time buyers have no spare money and prefer everything to be "done"
Perhaps view a few local properties in your price bracket and compare. No need to spend a lot.