How much value does a new kitchen and bathroom add?

[GorgeousLadyofWrestling]

I’m so confused and going round in circles.

We bought our 2 bed flat in south east London the month before lockdown. We got a very good price because it was really run down. No floors, single glazed windows in rotting frames, no shower, and the kitchen floor and toilet seat looked like they’d been set fire to. We did as much DIY as we could before we moved in - new double glazed windows, new carpets and flooring, new boiler, painted and freshened every where up. It’s perfectly lovely everywhere except the kitchen and bathroom.

Kitchen is ok - new lino down and we painted all the cupboards and put that vinyl stuff down over the counter so it’s had a very superficial facelift.

Bathroom is much better than it was - new toilet seat, stripped and painted, and shower added. But it’s very very very old looking and the bath / basin/ toilet are so old, they have water marks that have never, ever gone. It’s the kind of old where it looks unclean even when you’ve bleached it to death.

We had intended a new bathroom and then new kitchen. But DH’s business was hit hard by Covid and is still struggling. We just get by each month. Our flat is part of an identical large estate in private grounds - the flats are identical size. Some have just sold for £160k more than what we have left on our mortgage. I think these numbers are crazy but we have to move on in a few years as we have 3 kids sharing a room and one of them will definitely need his privacy in a few years. So I guess we’re hopeful for a conservative £100k equity in the property.

What is our best option?
A) leave the kitchen and try to re-do the bathroom ourselves? Tiling and everything.
B) Re-mortgage and use some of the equity for DIY in the hope that our flat sells for more because of done up finished kitchen and bathrooms? Is this possible? How does it work?
C) Accept a drop in the price (this is what our vendor did with us essentially, because of the work needed) for the hassle and cost of doing it ourselves?

Even if we did do the rooms up, it would be very basic standard because we won’t be living here long enough to enjoy a lovely finish and it’s not worth ploughing lots into a place we don’t intend to stay in - I think there is a tipping point where you don’t recoup costs so don’t intend high end finishes or anything.

But I’m just wondering how much value these things DO add. Having the windows done was always worth it - the single panes before looked like they’d fall out on a windy day!

I would leave it and price accordingly, as long as it's not so bad that any buyer will have to replace before they can move in. If it's just a bit tired or dated, you're unlikely to make the money back replacing things. OTOH do have a think if there is anything you can do to zhuzh it up a bit- pictures on the walls etc.

If it can't look clean then I would do it up. I couldn't imagine buying a flat with just one bathroom, that cannot look clean. It would be such a pain to replace as you would have to move out whilst the work is being done, and with it being in London renting something for just a few weeks would cost a lot. I'd rather have a crappy kitchen, as that is easier to do up and live with.

We were at a point with our flat that it was either do them now so we could enjoy them for a few years, or sell up. They're looking tired (serviceable, and the bathroom has that never quite clean feel you mentioned) and they've noticeably deteriorated in the past 2 years since we're all been home more.

We decided to sell.

We've been really out off by a few places which have had new bathrooms and kitchens as it's rarely to our taste. Particularly when it's a brand new kitchen in the back of a terrace which hasn't had the side return done- makes no sense to do that IMO!

Hmm. I’d normally say leave it, but as it’s a London flat, I think your potential buyers may consider a “project” to be repainting and new carpets, like you’ve already done. I would definitely prioritise the bathroom, keeping it pretty neutral. Kitchens are more tricky, especially with appliances.

I would leave it as is, but if you decide to renovate try to resist going for the cheapest options. I'm currently looking to buy in an area that is up and coming so you get a lot of houses that have been renovated by "investors" looking to make a quick profit.

The result is usually really off putting - bare bones bathrooms with dinky sinks that look like they belong in a public toilet, kitchen with the absolute minimum amount of worktop/cupboards despite the room being able to fit much more, etc. The sellers always charge a premium because it's been recently renovated but in reality you'd have to rip everything out and replace it to make it feel like a home.

I would ask an estate agent if it would make a material difference.

My bf did up an entire house on the cheap to sell it but to be honest it was horrendous before. I did up my favourite house and we lived in it. It added quite alot if value but it was high end stuff.