How much off for complete redecoration?

[MrsJackPearson]

Just after Mumsnet wisdom as to how much cheaper a property that needs full refurbishment might be than the same property up to current standard? The property I have seen requires, I estimate, 60k of work doing. It has not been touched since the sixties, original boiler and electrics, original kitchen, avocado bathroom suite, lounge is clad in pine (including ceiling) like a sauna. The house is overpriced, been up for months with no offers, but I really can’t see the vendors accepting any more than 20k less, ie maybe the cost of new boiler/electrics, maybe kitchen but the rest is really just personal taste Hope that makes sense. House is 400k if that helps.

Put the facts to them but be prepared to walk away. Nothing to lose! It will cost a few 10s of 1000s to get it to the standard you’d be happy with, unless of course you are diy aces and do most of it yourselves.

* but I really can’t see the vendors accepting any more than 20k less,*

Surely that’s your answer to your own question?

* I believe the price should reflect the amount of work that needs doing and currently the asking price doesn’t reflect that*

To meet YOUR personal tastes.

A pine clad kitchen and avocado bathroom suite may appeal to some.

You are extrapolating from far that you’d need to spend £60K that everyone Would need to spend £60K too

A friend has just sold her Property, it was originally on the market for offers over 700k for a 3 bed in need of renovation sitting on a fairly large plot of Land. Likewise it’s structurally sound, but in complete need of Modernisation, situated in a village in the Midlands.

Someone offered 650k first, but withdrew shortly afterwards due to the effect of Covid on their Business, they decided to stay put. The second buyer offered 625k, which she accepted, but the buyer then started Nit- picking at minor faults in a hope of a further reduction. However, she stood her ground, Threatened to put the property back on the market, and recently completed the sale for the 625k offered.

This place needed full redecoration, new Kitchen, Bathroom and En-suite. New window frames throughout, and attention to the overgrown garden, driveway, To get it back into decent shape this will probably cost over the £75k difference in the Original asking price to the £625 k actually raised.

The cost of Labour to do the work often exceeds the cost of the Materials used. Sometimes more serious problems can be uncovered once you start on a house refurbishment and it’s worth paying for a structural surveyors report before committing to purchasing such a property. Cladding can be used to cover up all kinds of structural problems, not purely used as decorative in many cases. Factoring in the cost of a full replastering job to the place coatings would be a sensible thing to do.

@whataboutbob

Put the facts to them but be prepared to walk away. Nothing to lose! It will cost a few 10s of 1000s to get it to the standard you’d be happy with, unless of course you are diy aces and do most of it yourselves.

The “facts” include that the OP doesn’t like the avocado bathroom or pine clad kitchens.

Ok, the OP doesn’t like it.

Does not mean that no one will like it

From what you have described op, you will certainly need a full structural survey.

Rewiring
Replumbing and probably some new radiators
New bathroom and kitchen
Lord knows what's behind the tongue and groove and cladding so prepare for major plastering
Do windows need replacing?
Guttering?
Patio relaid?

@Lassolary I think it’s likely few people will love a tired and dated decor. There’s a difference between retro chic, touches of well maintained and quality vintage furnishings/ decoration and just a decades old interior with its rather random aesthetic choices. Think of the dirt in those swirly brown carpets for a start and the underlay which will be like powder by now- not healthy for a start.

We were in almost exactly the same situation 5 years ago. The house was on at £410k, we initially offered £380k, then got it for £382k. The maximum we would have offered was £385k.

Did the full works similar to yours, rewiring, new boiler and radiators, whole house replastered and painted, new bathroom with four piece including double shower, new carpet on stairs and upstairs, plus put in downstairs cloakroom and wood flooring. The only room we didn't need to touch was the kitchen lol.

Spent just under £50k, and are putting it on the market this week for £465k. As long as we get an offer of £450k, we'll sell, as it means we'll come out with £150k equity.

If similar houses in good condition are selling for £400k, I'd offer £360k as a starting point, and go to £370k max. Don't underestimate how long completing works will take, or the cost. We offered in Feb of one year, completed in July, then moved in in Feb of the next year. We couldn't move into our house following completion, as DH project managed the whole thing, and we used separate trades. While we saved money by not bundling the whole job up into one, we spent a bit on continuing to rent and pay mortgage as we didn't give notice on our rental property for the first 3 months, then lived with family for the rest of the time. Also had a toddler and gave birth to DC2 during that time, so it was all a bit busy.

If I had my time again, I'd definitely do the same, and will most likely end up buying a property in a similar state, as can't afford a fully done house in the area I next want to move to!

I would speak to the seller’s estate agent, they will fully understand the situation and are likely deeply frustrated. The problem with some categories of sellers (e.g. have lived there a long time) is that they simply refuse to believe the property is not in optimum, move-in condition that is acceptable to most people. So I would see if the estate agent even recommends making a low ball offer, or if they recommend not even bothering trying with them. Some sellers are simply deluded.

Surely no house is to your own taste when you buy it though. People consider replacing expensive things like kitchens and bathrooms when they're viewing for this reason. I'm not sure this means they can say "Well we're offering less because things aren't to our taste"
You're not buying the decor, you're buying the bricks and mortar. If things like a roof or windows were in a bad state of repair then yes, I'd factor that into an offer as it's essential work but I wouldn't for decor.

No it’s not just the bricks an mortar being purchased, it’s a level of safety and decoration. Majority of people like and willingly pay a lot more for a fully modernised and recently decorated house they can walk into and live in without any work. Some people actually like snapping up house projects which are naturally cheaper to purchase . Buyers consistently weigh up the cost, time and effort of updating a property. Sometimes there might be decorative period gems but more often than not this is not the case in you’re average 60s 70s 80s house. I am the only person I know who likes avocado bathroom suits but would still expect a house with one to be on the market for less

[quote whataboutbob]@Lassolary I think it’s likely few people will love a tired and dated decor. There’s a difference between retro chic, touches of well maintained and quality vintage furnishings/ decoration and just a decades old interior with its rather random aesthetic choices. Think of the dirt in those swirly brown carpets for a start and the underlay which will be like powder by now- not healthy for a start.[/quote]
But those “few people” you mention may not factor on £60k of decoration because they don’t mind an avocado bathroom suite.

And that’s his house sales work. You only need one who wants your property and willing to pay what you’re prepared to accept for it to go ahead.

For me it’s the bricks and mortar AND (possibly more important to me actually) the location.

Redecoration- can be spread over Years and shoot to see as a long term project and saving goal.

But that’s me.

Others different.

When I was house hunting i found plenty of houses that were modernised but not to my taste. These properties sold well and didn’t hang around.

Yes location. That’s top priority

It’s a bit of a myth that price should reflect decoration. A 3 bed semi is on the same land as any other one in the road. You mentioned this house is slightly bigger, if it is extended then that is why it’s more expensive. Not really decor. Just buy a different house or make an offer.

The picture that the OP is painting isn't one where a buyer might think they prefer neutral tiles in the bathroom instead of colour, and it would be nice to put some laminate down. It's an image of a whole house that is dated and tired and will need work doing to it.

Some people don't like to accept their house isn't worth as much as they think. We spent 18 months house hunting and one property was hugely overpriced. It was still on the market a year after we bought.

The last house I bought had been extensively redecorated by the owner who did it all himself over a number of years. He thought it would sell really quickly as he’d made it modern and put loads of ‘modern’ features in (including putting wood on every single ceiling for some reason). Unfortunately I think he was a bit behind the times when he started redecorating and by the time he’d finished (2018) it all looked really dated - all twee Cath Kidston curtains, polka dots and bunting in every single room.

What I’m trying to get at is taste is personal and fashions come and go. Absolutely take into consideration the cost of new electrics and plumbing if that’s faulty. You’re always going to have to redecorate though, even if you buy a magnolia new build you’ll want something that’s more your own style.

Even if you make an offer and it’s rejected that may not be the end. If you don’t find something else in the next few months and it’s still sitting there phone the agent and ask if they want to think again (you may also ask to be kept informed of any price drop etc.). Low ball offers may initially piss them off but in time they may change their expectations. Are they living there or was it inherited.

All that said if they are looking to go elsewhere there may be a price they need to achieve to buy the next place they want and / or have the cash to live off (presume if they live there they are elderly) so the move may just not work for them at a lower asking price.

I never get why people ask this. Offer what you want, you don’t need to give a reason and the sellers don’t give a shit that you want to redecorate. Make your offer, they will say yes or no. It doesn’t matter if you think it’s reasonable, it doesn’t matter if you think it’s over priced, it doesn’t matter if someone random on here agreees with you, it simoly matters what the sellers are willing to accept.

Houses are only worth what someone will pay, and will only sell fir what the owner will accept.

Offer what it is worth to you. If it’s not accepted, move on.

@LolaSmiles

The picture that the OP is painting isn't one where a buyer might think they prefer neutral tiles in the bathroom instead of colour, and it would be nice to put some laminate down. It's an image of a whole house that is dated and tired and will need work doing to it.

Some people don't like to accept their house isn't worth as much as they think. We spent 18 months house hunting and one property was hugely overpriced. It was still on the market a year after we bought.

Avocado bathroom suites And pine clad kitchens

One pp has already commented that she loves the sound of the decoration.

Dated and tired to you (and me in fact)
But not to some

And that “some” may bot factor in a £60k redecoration fee into their offer.

It's 10 years since I bought a house but it used to really about me that estate agents would price houses the same whatever they were like inside, with no reflection of the amount of work the vendor would have to do to make it habitable.

I understand since of it is subjective, but certainly they're needs to be some acknowledgment of what needs replacing if certain things are ove 20 years old. Windows, boilers, carpets. A house that has not been touched for 40 years will likely reveal more problems under the surface. The work required to decorate is not just a lock of paint and a be floor, but re-plastering and fixing rotten floor boards, for example.

Lassolarry1980
But as another poster has said, a house that hasn't been touched in 40 years is likely to have more issues than one that's been done in the last 20.

A house that needs more work doing is typically priced to reflect that, at least it has been when I've been house hunting. Equally, some people put their house on the market with whoever will put the highest price on Rightmove, without paying attention to what the local market is like.

We went to look at a property that we liked the look of, but on viewing it was overpriced. The condition of the property was worse than it looked in photos, which to be fair it's sometimes hard to capture everything. The owner was complaining about all the time wasters who had been to view or put offers in they didn't like, which was off putting to us as potential buyer and after we decided it was overpriced, realised that the owner's view of the property's value was really unrealistic.

I can’t understand the posters who think an avocado suite wouldn’t affect a house price?! Provided it’s a relatively decent house it would be sold under the assumption of being immediately ripped out, as nobody with an option would consider living with that. Likewise for extremely dated kitchens—it’s not a matter of taste it’s basic acceptability to most people. You’d consider buying if replacement priced in but yes it fundamentally knocks a chunk off the price.