Return on investment

[cakeformeplease]

We have a house to sell on behalf of a relative. We are weighing up selling it as it is, a tired but substantial house in a great location, or putting in significant work in hope of a much better price for the relative.

We have done extensions on our own house, but were less mindful of potential profit because the value lay in future proofing a house we love and don't want to leave, so breaking even on cost would be fine.

There are two of us making the decisions. I am minded to sell as it is, at the valuation we have that reflects its condition. The other person is more open to six months plus of work for a potential profit.

My worry is that we could end up doing £100k work and make the house worth £150k more, and feel quite resentful of the effort.

Has anyone done this kind of thing before, either professionally or for a relative? Interested in any thoughts.

I would sell as is. Partly because it’s not your profit (that might sound mean) and in a great location, people will pay for potential!

We sold my Aunt’s house to pay for her care (my Dad had POA) due to dementia. We did just made sure it was clean & tidy. We cleared out all the clutter! We could have spent quite a bit, but it was reasonably priced for it’s condition & it was snapped up.

That's what my instinct says to do. I think people will want to put their own stuff in and, honestly, I'm not sure I have it in me to do the graft of a building project that I'm neither going to live in nor see the profit.
I don't think anyone would expect us to either.

The most I would do is make it look liveable in whilst someone saves/ prepares for doing a renovation to widen the market of people who are looking for a project.

Thing is, it's totally loveable as it is. The person who lived there was elderly but very active and kept it clean tidy, painted etc. I would absolutely want to put in new bathroom and kitchen and decorate throughout, but it's not in the sort of state where you'd need to gut it before moving in.
I feel more people will see it knowing it's priced to allow for cosmetic update, kitchen and bathroom being needed than to pay for someone else's taste/cheap fittings, especially since the night choose to do bigger work like extending.

Loveable? Meant liveable! Nothing very loveable about the pink bathroom suite...

sell as is now, the market is very likely to get worse, you could lose a lot of money.

I’d much prefer to buy a house well priced for its condition so I could put my own stamp on it.

No brainer to me!

I think projects are few and far between nowadays whereas new build and renovations are plentiful. Someone is more likely to snap up a bargain to do themselves than overpay for someone else's development or taste

I'm glad the consensus is sell as is. When we bought our house, 20 years ago, we rejected lots with very smart new kitchens that weren't our taste. We wouldn't have been able to justify ripping out brand new and preferred to have a project. It had to wait for a few years anyway, but at least I knew we'd paid less for the house because it wasn't up to date (although clean and serviceable)

We've done our own renovations, able to make good profit due to doing work ourselves plus having contacts who can do the trade jobs at short notice/mates rates. As it sounds like this isn't an option for you and your heart isn't in it I wouldn't bother wasting your time. Advertise it at a price that reflects the work that needs doing and someone will snap it up and modernise it to their taste.

Justmee-exactly that-we haven't the time to do it and if we paid proper rates I'm pretty sure the profit would be gone.

Don't do any work. Sell as is and may be open to a large market base

Deeply relieved-we've agreed to sell as is. Agent really didn't think it was worth doing anything-he said minor work wouldn't increase value and might even put off buyers who would rather do the kitchen and bathroom to their taste. And he thinks it will be snapped up for it's location, garden and the fact it needs no major work.
What I thought all along, but glad we've had the stamp of approval and are going ahead.

I think that's the right decision OP, I've bought two houses with pink bathrooms myself! Good luck with the sale.

I feel very comfortable with it. We bought our house in a similar way-clean and tidy (actually had a white suite but the kitchen was super dated) and have grown with it.

I actually love a pink bathroom and you can get loads of ideas from Pinterest for staging it. Many people are looking for those retro fittings. Good luck

Yes, we bought our house as-is with narrow galley kitchen and ancient pink bathroom suite, but PP for extension and loft conversion already. Preferable for most people buying a family house to get one in liveable condition and do the work themselves to their own taste.

Ah, I fear this 50 year old suite is past its best even for pink suite lovers!