The dilema is to renovate or sell. We have a victorian mid terrace in the SE. Bought in 1993 for 120K, current value?? who knows but houses on same street have gone for over 500k (fully renovated)in the peak.
The problem is we either need to spend 100K on completely renovating it i.e. new kitchen extension, open up loft to create 3rd bedroom, rewiring, replumbing etc, etc. It would be a case of moving out for 6 months to do the job properly & most efficiently.
However we ideally want to move to a bigger house with more outside space etc. We can afford to spend the money for the refurb and we don't need to move financially (but never intended this to be our family home) likewise if we could sell we could afford to upgrade considerably.
Would you go through the hassel of the refurb even though this is not "the" family house that we want to end up in, or accept a lower price (good renovation project for someone in current market) and spend that 100K on next house?
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Renovate or sell?
14 replies
sellorrenovate · 19/10/2008 09:08
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