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Original poster

To think a new bathroom WILL add value?

52 replies

Puppymonkeybaby1 · 01/01/2018 06:58

DH and I are having a disagreement about what work to do on the house this year.

Our house is 'shared ownership' (50/50) and when we bought it, we were told by the housing association that when we sold, we would only ever be able to sell it for 'market value'. No issue with this, it makes perfect sense that people don't make huge amounts of profit once they sell on social housing.

We've done a lot of work over the last few years including a new kitchen as the existing one was falling apart. We're always very aware that we won't necessarily see a return on the money we put into the house and that's fine.

However, the bathroom now needs doing and DH doesn't think it's worth it. I think it will add value, ok not a lot, but it will also make the house more sellable.

Who is right??

OP posts:
icklekid · 01/01/2018 07:02

Depends on condition of current bathroom. If very poor then yes more saleable but if there's nothing wrong with it just dated for example may well not as people like their own style. We bought a house with a very new bathroom but I hate it and it almost put me off buying!

Appleandcinnamon · 01/01/2018 07:03

Definitely will make it more desirable well I think so anyway

dudsville · 01/01/2018 07:07

It will make it more attractive for some, but not for others, and that's missing the point. It does increase market value, so you should get some return.

Ifailed · 01/01/2018 07:08

take advice from your EA. As others have said, if it looks bad, then replacing it with a cheap new one would probably be a good idea, but if all it needs is a deep clean and a lick of paint, don't waste your money.

InfiniteSheldon · 01/01/2018 07:09

It will add value but possibly not as much as it costs but you get to enjoy it too.

Mummyoflittledragon · 01/01/2018 07:39

It will add value. But you will only get 50% of that value. So you may end up losing out. It depends on how long you intend to live there. Can you remortgage and buy the 50%? That’s where I’d be putting my money.

AJPTaylor · 01/01/2018 07:59

I would say you wont get really get your money back. When its valued it will be very marginal, it having a new bathroom and you are selling to a limited market. Do you intend to stay put or move is the deciding factor.

Bodicea · 01/01/2018 08:04

I don’t think you would get your money back. I would rather buy a house with some things not done that everything done not too my taste. Plus bathrooms are pretty expensive. Depends if it still functions good enough. I also think everything ahoy to be done to close together as everything will need to be replaced/date at the same time.
Ie we did our kitchen and one bathroom about 5 years ago. Already fashions have changed a bit. We left the main bathroom as we ran out of money. So glad we did now as I would do it differently now than how I planned.

Bodicea · 01/01/2018 08:05
  • ahoy to!! I mean shouldn’t
Original poster
Puppymonkeybaby1 · 01/01/2018 08:08

Yes we're planning on moving in 2/3 years time. Just not sure I can live with the minging bathroom til then!

No point buying the other 50% as even if we owned outright, it would still be a social housing property and we'd still only get market value when we sell.

OP posts:
Cherrycokewinning · 01/01/2018 08:13

I don’t think it will. Valuations are usually desktop (without seeing the property)

Also, people buying shared ownership just won’t be able to access another £5k because the bathrooms is lovely.

It will very likely make it more desirable though.

Lovebehindthefool · 01/01/2018 08:14

How bad is the current bathroom? Is it basically in working order? Is paint peeling/tile grout grubby? Could you make it better by repainting/repainting the tile grout white? Perhaps the floor is Lino, could you redo the floor in nice new lino only? Could the limescale encrusted taps be thoroughly cleaned, or perhaps just replace taps? I would look at the worst parts of it and decide if just those parts could be replaced. It is amazing what a new floor and taps and a good clean up can do for a bathroom. I use “Bar keepers friend” cleaning products for my bathroom as I live in a hard water area and it is a god send.

Cherrycokewinning · 01/01/2018 08:14

If you owned 100% of the property it would be yours, not social housing. It would just sell for whatever the estate agent can get for it rather than what they deem social housing (like a “normal” house)

Pengggwn · 01/01/2018 08:15

This reply has been deleted

Message withdrawn at poster's request.

MoveOnTheCards · 01/01/2018 08:16

If you’re going to be there for a couple of years then I’d replace it.

Bit Confused by only selling for ‘market value’, as isn’t that what happens anyway? Buyers tend not to pay more than market value?

MoveOnTheCards · 01/01/2018 08:18

Pengggwn put it better than me! What someone will pay is the market value (at the time)!

Chienrouge · 01/01/2018 08:19

I’m confused... surely all houses sell for market value? People don’t tend to pay more than market value for a property.
And if you owned 100% of the property it wouldn’t be social housing... it would be your house.

Dozer · 01/01/2018 08:19

Yes, what do you mean ONLY “market value”? Who determines the sale price?

What do you mean by “minging”: damp, mouldy? Or just ugly? If the former you might be able to address the issues cheaply, eg seals, new grouting. If the latter I’d live with it.

Presumably with selling your home the social housing opportunity will be the big draw, and people will be primarily concerned about price.

MaverickSnoopy · 01/01/2018 08:20

Our last house was shared ownership and we were told that if you made improvements you needed to declare them to the SO company and pay a small admin fee (something like £100) and then it could be counted towards the value of the property (of which you then get half). It might not be the same for you but I wouldn't suggest going back to them and pinning them down on the finer details.

We replaced the carpets in ours with real wood flooring. Now I never knew of this counted as an improvement and if we needed to declare it. I didn't want to pay the admin fee and so didn't declare it. However when our house was valued, the surveyor didn't ask about anything like that and just valued it at market rate. So I suspected that it's all a bit of nonsense really. At the end of the day "market rate" is a judgement based on other houses vs your house. If your house is nicer then have you just pushed the market rate up slightly or perhaps you'll be at the top end. You would however still only get 50%.

Aside from the floors we only ever made aesthetic changes, for the reason that it was not our forever home and we wanted to save that money for the house we bought outright.

Honestly. I think it's a waste of money (unless the bathroom is literally falling apart and even then you can just replace the falling apart bits). When we sold our house I had to show everyone around (in lieu of an EA as that the way it worked). No one cared what our house looked like. Don't get me wrong, everyone said it was lovely, but what they cared about what getting on the housing ladder. Each family I met were desperate for a house, any house (we do live in the south east so houses are more expensive and more people want SO). If anything the more your house costs the harder it could be for some people to buy your house. Now, that's not your concern, but it helps you to think about it from the other side.

Interestingly a family member had just sold her SO flat in a very desirable area. It's on the door step to a railway station (with a short connection to London), close to amenities and in a hugely popular area. The SO properties get snapped up very quickly. It look her 6 months to sell. Why? Because she'd done a load of work to it and it was valued very highly and no one wanted to pay that for a SO property. When she dropped the price it sold. I know this can apply to non SO properties too, but I'm just saying to really think about if this work needs doing.

Mummyoflittledragon · 01/01/2018 08:34

In that case, I’d spend the bare minimum and save it for your next home.

KanielOutis · 01/01/2018 08:58

50% is a good share. I have friends with a 30% share in SE. Pay 100% of the works and keep 30% at sale. It seems like a scam.

PersianCatLady · 01/01/2018 09:09

I don't want to sound rude but I don't think that you fully understand the shared ownership scheme.

Once you have staircased to 100%, you should be granted the freehold of your home and therefore it is the same as any other owned home.

Putting money into things like kitchens and bathrooms is not a wise investment whereas staircasing to 100% is a great investment.

Cherrycokewinning · 01/01/2018 09:09

Well 50% is just what they’ve paid for, not a good share. It’s not like they paid the same as your friends with 30% Hmm

Market value means it will be valued and that’s exactly what it sells for. So if a valuer says £200k that’s it. It doesn’t go on the market and wait for offers like a normal property (which, if it’s value is £200k you might decide to put on at £220k say)

midnightmooch · 01/01/2018 09:22

Do home improvements to improve your enjoyment of your home - it is rarely a good investment.

TheIntrovertedMum · 01/01/2018 09:32

Put in a new bathroom but basic (if you are planning to sell), it will make it more marketable as it's not too personal. I would ensure you have a bath too, removing a bath and only having a shower will put off families who want to buy.