New kitchen before selling flat?

[gallicgirl]

Wonder if people with a bit more experience could help with a dilemma my DP and I are having?

We live in a house converted into 2 flats and it's in fairly decent condition. We've recently had rooms plastered and the bathrooms are in decent nick - good tiling, bright and fresh etc.

The only jobs that really need doing are the floor in hallway and kitchen and the kitchen itself. The floor is easy to sort out and not a worry.

The kitchen, although serviceable is poorly laid out and a bit tatty. The cupboards are old (were already in place when flat was purchased 9 years ago) and the work surfaces are damaged in places; a bit dented, chips on the edge.

The DP thinks we should have a new kitchen but I think we should just give it a lick of paint to make it look fresher. We'd like to move in around 18 months so I don't think we'd get the benefit of the kitchen. It might make it easier to sell the flat but it's £3000 we could do better things with. DP disagrees and thinks it will add value to the sale price.

I know the kitchen is really important when people are looking at purchasing property but I feel it would be better for us to save the money and maybe take a hit on the sale price - let the new owner decide what sort of kitchen they want and how much they want to spend. OTOH, being a small flat, it will appeal to first time buyers who may not have budget for a new kitchen and would like to move in without doing any work.

WWYD?

If you can do it for £3k and make the kitchen both nicer to look at and more useable then I think I'd go for it. It should add value and make the flat more attractive to a wider range of buyers. Go for something neutral and timeless so the kitchen is a nice place to cook rather than making a statement. Don't splash out on anything too flashy (no boiling water taps, plinth lighting or remote control extractors) as they won't add value.

It definitely wouldn't be flashy!

I think we'd struggle to afford that much. I might price up new cupboard doors, work surfaces and sink. That way it will look a lot nicer without spending a lot at all.

Why not get one or two agents round to value and ask their opinion on likely selling price with and without kitchen works?
They will know the area as well as what people your property is likely to attract.

Do you think they'd be willing to do that even though we're not ready to sell yet?

Suppose I could always lie and then "change my mind".

Be honest, you want to know and they can tell you... if they get shirty you know not to use them when you do come to sell!

When my parents were selling their house last yr they spent approx £2.5k* on "updating" their kitchen (admitedly it was v small). They replaced the doors, drawer fronts and worksurface, replaced the old tiles with lino and gave it a lick of paint. It looked sooooo different and really made a difference.

*including paying tradesmen to do the work (even the painting) as my Dad, bless him, is not a DIYer!

Do you think they sold the house quicker or got the asking price because of the refurbished kitchen?

my mum got a joiner to replace the doors as the cabinets were still in good condition, approx £800. Looks like a brand new kitchen

We were in this situation - had done up most of the rest of the maisonette, but not the kitchen.
The agents came round and said most buyers would want their own kitchen anyway so just get rid of a cupboard that was in the way, declutter like mad, get a cream throw to put over our ugly sofa, and leave it be.

We had offers within 24 hours. And the buyers told us not to bother cleaning the kitchen when we left as they'd be pulling it out.

We are in this situation at the mo. We asked several agents to come round, telling them we aren't selling yet - they were fine with this. One or two said that because mortgages are much harder to get these days, people are saving up and spending money on deposits rather than on potential household work. So they're less likely to buy something that needs work (this obviously depends a lot on the area, potential buyer etc). So personally I would go for it. Get the cheapest kitchen you can (Ikea?), or else just replace cupboard doors, decorate, etc.

Thanks for the advice everyone.

Sounds like I need to speak to agents to see what the market is like and then perhaps do a little refurb if it's sluggish.

:)