What to do with run down house?

[Rebecca9210]

My grandad is going into a care home. He has left his house in a state. It needs new boiler, new electrics, everything. Would you pay to have it all done up or sell it at a loss?

It depends on local demand- and how soon you will need cash.
Could you ask a couple of estate agents opinions?

You won't be selling it a loss though will you, you will be selling it for what it is worth. I would think in the current market you would do well to sell as is as there are people looking for projects, not much on and prices may well drop next year if we enter a recession. Possibly more importantly, are you in the business of doing up places? You could easily end up over-spending and then actually selling for a loss.

Sell it as is. Clear out the rubbish and carpets and furniture and you'll make a much better price.

Yeah sell as is. Doing the same currently. Estate agents have all said 'project' houses go quicker than ones that have been done up cheaply. Clear it out, tidy the garden, give it a clean and get it on the market.

What do you mean sell it at a loss? Will you be selling it for less than he paid for it? Or is there a mortgage still on it?

Sell it as it is because if it’s that run down, I doubt you’ll be selling at a loss because it will cost thousands and many hours to restore. You’ll also have to cover all outgoings for it whilst that is happening.

Sell as is

Empty it and sell as is.

Not understanding what you mean by sell at a loss, There won't be any "loss" as you won't have spent any money on it doing it up!

Sell it as it is.

We bought our house in a similar condition (elderly owner moved to live with daughter). It was on the market for a long time (18 months) before we came along, but I think that was because he'd had it valued for probate when his wife died at the height of the market and this was several years later and in recession! He couldn't seem to get his head round it not being worth the probate value, even though it had never sold at that price! We had to completely rewire, new boiler, new central heating system, new bathroom (previous one had 1970s bathroom with tiles falling into the bath etc!), replace flat roof. It meant we could choose to have things how we wanted - sockets where we wanted them, and we reconfigured the living/dining room, extra insulation on flat roof. Having previously bought a house that had been done up cheaply by a developer it was far more preferable to buy one to do ourselves.

It's worth clearing out any overgrown garden - we saw the previous photos they'd used to try to sell it with previous agent and it was all enormous bushes that blocked the windows and made it look tiny and badly lit. By the time we came along all of those had been hacked down and disappeared - it wasn't a tidy or anything like landscaped garden, but it no longer looked like it was about to devour the house!

Sell it as it is.

We had this dilemma with DM’s house after she died. It was a 1970’s house and had got to the stage of needing a lot doing (rewiring, new central heating, attention to the flat roof etc). We weren’t in any major rush for money so did consider getting the work done ourselves but in the end decided it was best just to sell as is & let a new buyer put their stamp on it.

We did make a conscious decision to sell to a family or a buyer who wanted it as their home. To live in. No developers. This was an express wish of our dad’s before he died - that when the house was sold it was to go to a family to live in & enjoy as we had.

He died 9 years before mum so at the time it seemed like a strange request to make (especially as he made no others at all), but still one we were keen to honour.

The couple who bought it are still living in it 8 years later with their two DDs, so I think he’d be happy.

Sell as is. I've seen a few corkers on Rightmove, proper relics, frozen in time. I really enjoy looking at the to be honest!
Buying one isn't for me but plenty do!

Clear it of furniture (watch out for vintage gems) clean it and get the garden tidied up so the space can be appreciated, but nothing further. Leave kitchen/bathroom in place whatever the state as buyers may need to use it short term

Clear out all the furniture , clothes , carpet , pictures etc
Leave the heating on frost control ( just in case there’s a cold snap )
Put it up for sale as it is
We viewed a house last week that the elderly couple had been moved out of as they could no longer cope on their own
It was an awful mess , down to the bowl of manky fruit ( and a blackboard with dish washer instructions written on .... sad )
With the estate agent telling us that they didn’t know when the house would be cleared , made it an easy no from us
I’d suggest clear everything , let people see the potential ( get a skip )

My DSis bought her last house in very similar circumstances (only the family hadn't done the cleaning bit).

DSis & BIL loved the house and spent many hours getting it exactly how they wanted it.

I think like the others have said, I'd clear it out, give it a good clean and tidy the garden and then sell it knowing that someone will love doing it up to how they want it

Sell as is. It's so much work and hassle getting reliable tradespeople to quote and then do the work. By the time it's on the market the stamp duty holiday will be over so the buyer then pays higher stamp duty. Most of the time kitchens/bathrooms aren't fully to the buyers taste so they don't want to pay what they cost.

@TheTeenageYears

Sell as is. It's so much work and hassle getting reliable tradespeople to quote and then do the work. By the time it's on the market the stamp duty holiday will be over so the buyer then pays higher stamp duty. Most of the time kitchens/bathrooms aren't fully to the buyers taste so they don't want to pay what they cost.

Do you mind me asking how much this all cost you? My other option is to by my sister out and pay to do it all up myself. It would need basically everything you are saying

Do you mind me asking how much this all cost you? My other option is to by my sister out and pay to do it all up myself. It would need basically everything you are saying.

Is the house being sold to pay fir care?

What is your sister's interest? Surely it is still grandad's house and any proceeds are his. Does he still have capacity?

Sell it as is. I went through the same in recent years.

Sell it as it is. As a buyer I’m only interested in run down types (to an extent) that I can do up

We completely gutted a house 20 years ago but it was to live in and not to sell. We spent a lot of money and went hugely over budget. Thankfully at the time as the house wan't habitable there was no council tax to consider but I don't think there are the same allowances now so you have to pay that plus bills and insurance all the time the work is being done which is can be a considerable on going cost.

Won’t the money from the sale be going towards the care home fees?

When you say buy your sis out do you mean you both own part of it? Because if it's your grandfather's the house sale will be expected to pay for his care home fees. In which case, dont waste time and money doing it up.