Potential to improve

[Bells3032]

What would you think if you saw this on a listing? There's a house we really like but it's got this listed by two agents. I find it really strange. It does look like it needs some redecorating etc and eventually some modernising but that's it really. But really put off by the label.

What would you think

It's Estate Agent speak for (I imagine) 'a few bits and bobs in this property are outdated' or 'needs new carpet and a lick of paint'. It's used as a selling point because you might pay a bit less than a top-spec tarted up equivalent property, and not feel bad about making those changes.

I read it as, it's basically more of a doer upper and is therefore well priced because of this.... Is it well priced? Or, it's a property that can be easily extended perhaps?

Needs work but you should get better value for your money

I expect it to have dated decor, and would likely benefit from having walls knocked down/opened up/modernised, scope for extension/loft conversion. So either something if you want to do the work yourself, or looking to add value.

It's a sneaky bastard tactic from the EA. They put on 'potential to improve' when they find somewhere that clearly needs an update as it's been several decade or something since the last refresh... the trick is that the price isn't lower, it just gives the impression it is and that you're getting deal of the century. What you're actually doing is paying normal rate plus all the costs of fixing it up.

Beware wallpaper with blown plaster underneath! Also do electrics need rewire? Is the plumbing ok? Anything more structural?

Ours had " in need of substantial modernization" in its title. Probate house.

Potential to improve generally means cosmetically dated and hasn’t had the layout changed to be more open. But that kind of house can end up being more work than you expect because it will probably turn out to need rewiring/new heating/new roof or something similar.

www.rightmove.co.uk/property-for-sale/property-73381258.html

This is the property. Both it's listings seem to say potential to improve. But seems to be in good condition though may need a bit of redecoration. what do you think

It quite clearly needs a bit of redecorating and new flooring plus the garden needs done so I think ‘potential to improve’ is quite a good description. You could definitely live in it as it is but you could also improve it :)

I think it's referring to the kitchen and bathrooms, new carpets and paint.

I would pretty much assume any house needs repainting and carpeting and eventually kitchens and bathrooms in houses in this area as most of them only come on the market every like 20-30 years but wondering if there are major issues with the house. We can't afford this price atm but it's been on the market since october 2018. Hoping it may come down eventually

It's dated but nothing more from the looks of it; it's not that old so should be OK but obviously get the normal checks done as part of the buying process. Any house you buy, more or less, you will want to change and therefore modernise. That said, it looks pricey! If it's been on at that level since 2018 there's a fundamental issue in the vendor.