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Buying and selling houses - help!

(9 Posts)
QueenPolka Tue 04-Oct-16 21:29:52

We are finally starting to think about moving from our two up two down to a bigger house. I've only ever bought one house and never sold a house before so I have a few questions.

Our house could do with a new bathroom, fire and new kitchen cupboard doors but my friends keep telling me not to bother doing these jobs because any new buyer will probably want to do that themselves. Can anyone advise me about the best thing to do?

My other question is about the house we would like to buy. It is up for sale for offers in excess of 300k. Is it worth offering less than that? How much less would be a reasonable offer?

If anyone has any wisdom about selling a house or buying a house they would like to share I would be very grateful. The whole idea of starting this process is making me stressed

greenfolder Wed 05-Oct-16 06:44:07

I'll tell you what we have done with out previous house. It could have done with a new kitchen. We spruced it my up and made it presentable. Replaced the worktops with cheap new laminate and vinyl flooring. We replaced the stairs and landing carpet with cheap but immaculate carpet. People really want to put their own stamp on. You are looking to achieve the view "we could move in and live here happily whilst we get the work done "

Optimist3 Wed 05-Oct-16 06:52:11

I wouldn't. Not sure you'd get your money back and people often want to put their own stamp on it.

I've always bought dooer uppers or houses that require a bit of attention. I find it annoying if there's a newish kitchen or bathroom I dislike. It will never ever be to my taste.

wowfudge Wed 05-Oct-16 08:03:59

Your question about offers in excess of - they want more than £300k so I'd say offering less was a non-starter unless you can justify it based on house prices in the area and anything which makes it less desirable to the average buyer, e.g. it has a very small kitchen for a house of that size, unless the price reflects the quirks.

If it's been on for a while you could always chat to the EA and say you like it but wouldn't offer £300k or over. You need an offer on yours before you can have that kind of conversation really.

estateagentfromhell Wed 05-Oct-16 14:10:09

We had our house on the market as a bit of a do-er upper for this reason . Nothing structural, but needed new carpets, decoration and the garden needed something doing with it.

We also thought that people would like to choose their own decor, garden layout etc, but we had not even a single offer (and it was seriously priced to sell).

Eventually, we did the work ourselves and have now sold the house (on 3rd viewing) and have achieved an astonishing 320% return on our 'investment' for the work.

All logic tells you that people would like to put their own stamp on it, but we found the reality very different.

estateagentfromhell Wed 05-Oct-16 14:11:52

...and when the listing states 'offers in excess of' I would always offer the price they have stated in the listing.

QueenPolka Wed 05-Oct-16 17:37:14

Thanks everyone. I suppose we could start with making it as presentable as possible and see how it goes. Our current house would appeal to a first time buyer and I know we couldn't really afford to do a lot when we first bought.

Wrinklytights Thu 06-Oct-16 07:47:14

Personally I would do the work that needs doing on your place. I like to buy places that need work doing, but I expect to pay less than for a similar property done up. You'll probably find a lot of people who look at the diy/property board similar, but IRL most people like to buy places they can move into without doing work and will pay a premium to do so.

InfiniteSheldon Thu 06-Oct-16 09:07:52

Agree with others do the work to a good but lowish standard you will be shocked at the return. We had to sell a house ywice a couple of years ago and got nearly twenty grand more the second time with a three grand expenditure. Watch Sarah Beeny how to sell a house and really look at your home then get rid of everything that might put a buyer off. We also had a look around New builds for display and easy decor tips. A lick of paint and new cheap carpets also make the world of difference. You could get a refurb company in to do the kitchen up rather than replace it.

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