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Update or not......(15 Posts)
Due to financial reasons, i have never updated kitchen/bathroom in my detached barn conversion..... now i need to sell, is it worth modernising through a loan or market as needs updating etc and reflect that in the price.
Does it put people off? i m not really the house proud type but its clean and tidy and nothing is falling to bits but quite 1980s, been here for 20 years.
House is in a v quiet rural area of Cornwall but within walking distance to primary school, a village shop & i have got fibre internet
If the barn was converted almost 40 years ago, then people might view it as a full refurb job incl electrics, new boiler etc. Whether it’s worth doing or not, depends on house values in your area. It’s a lot of hassle and stress so I’d only refurbish if you’re going to add quite a lot of value to make it worthwhile.
PS if you decide to do works, you might miss the no stamp duty window.
Does it put people off?
It can put people off if you install a brand new kitchen that is not to their taste. They know that they will be ripping out a perfectly serviceable kitchen to put in another perfectly serviceable, but different, kitchen. It's not good economics, not very eco/green. It leaves a bad taste.
It would be crazy to get a loan to do this.
Market it as is. If this is the wrong advice then you can always change your mind and put in a new kitchen after all. Don't forget that people are saving money on stamp duty at the moment - that can go towards their new kitchen.
When we moved into our new house we changed the doors on the kitchen. This updated the look but didn't cost an arm and a leg. Could this be an option if you think buyers would be put off?
Market the property at a price that meets your needs and see what happens. I wouldn’t waste money on doing up a kitchen and bathroom.
I don't know if one could put something like,
'the vendor recognises that the kitchen and bathroom may require updating and this has been reflected in the price'
Just so you don't get a potential buyer trying to offer a low price. As the sale price would be based on as the property is currently, not as it might be after updating.
We sold ours knowing it needing a new kitchen (it needed a new kitchen when we bought it 10 years ago). But we quite happily lived with the peeling laminate etc as it was all clean and serviceable.
The price we sold it for reflected the fact that whoever bought it was probably going to take the kitchen out. So we didn't sell for top dollar but went for a middly valuation and sold quickly.
House we moved to had had the kitchen tarted up but we are going to build an extension and turn it into a utility.
Basically don't waste money on putting in a kitchen or bathroom that might not be to someone else's taste. But make sure it's clean and looks as good as it can in the photos.
I think it is fine to market with a kitchen and bathroom that require updating, especially if they are perfectly serviceable and can be used by the new owner until the time comes for them to be updated.
I do also agree that it is good to put in the Rightmove description that update requirements have been reflected in the price - it doesn't mean that people shouldn't make an offer, but you'll weed out the investors who look for projects and offer ridiculously low on just about every property going.
I’d much rather - and just have - buy a house that needed some updating and that this was reflected in the price, as it means I can get the place exactly how I want it in my style. But I’d pass on paying a price which reflects somewhere has been newly renovated, but has been done to the vendor’s taste which may well not be mine.
Just make sure it’s uncluttered and clean and tidy so people can see the potential and have it in the listing that it requires modernisation and this has been accounted for in the price.
Ok thank you all, personally i think its fine but i like the 80s! i have decided to paint the hallways in a bright neutral colour though but that will be it.
Maybe my DD bedroom carpet too, she has a had a habit of dropping her straighteners on it
Don’t spend too much on new carpets - many people will just rip them straight up (I don’t like carpet so would want to lay wooden floors but even if I did like carpet, I’d never want someone else’s used ones, even if they were only a few months old.)
What I mean is, “I just re-carpeted last year” isn’t going to be a selling point for a lot of potential buyers, it won’t add value. If there are literally holes or noticeable burn marks then just get something cheap, but otherwise don’t bother.
I think carpets do make a difference. Spending a couple of 100£ on an offcut is probably worth it. A carpet with burns in - or really old and sticky - unless the house is a real 'doer upper' would turn off your average casual buyer couple with a dated kitchen than just the dated kitchen.
Or get a rug to cover the burns.