Renovate or sell with planning permission?

[cluckingbell]

Looking for advise please. I have inherited a large house that is in need of extensive renovation. In a previous incarnation, the house was set up as a HMO, then changed to a private house.
BUT, it requires considerable renovation, and being both time and cash poor, would I be better off obtaining planning permission to convert into flats (probably 4), or carry on renovating? We need to get the best possible price in order to finance 3 separate properties for the 3 beneficiaries, and without to much delay. Anyone have any thoughts?

Sell it as is ASAP before winter ( bringer of leaky roofs, frozen pipes/heating bills, security issues) No PP, no renovation. While it's empty you should be able to negotiate CTAX relief with the council.

You can never predict who the keen buyer will be. Maybe someone who wants a large single property. Maybe a developer. Maybe a family needing accommodation for a nanny, Granny, carer, staff. By doing nothing to the property you leave the market open to all.

Planning permission can take months. You need to get valuations from decent agents. They must know the area because it’s not like valuing a semi that’s the same as hundreds of others. As you are not going to do the work I would say pp is a waste of time. Let others spend the money and invest the time on this. A decent agent will know how to market it and to whom.,

If you need to sell quite quickly then just sell now. Renovating could take years.

I'd sell pronto tbh. We've renovated and it's taken every pen we have. The original budget (and contingency) has nearly doubled, such is the price of stuff lately.

We've had to sell both our cars to keep ourselves afloat. The rise in prices has been frightening for all involved in the trade. Unless you have serious capital behind you, I'd leave it.

I agree with other posters, sell as it is. It can take a long time and a lot of money to get planning permission, you’ve also got to know a lot, you can’t just decide you’d like 4 flats made out of one house. You won’t make as much money, but only you can decide if it’s worth the time, money and stress that will be needed to get the most money out of a property.

Thanks all. I've renovated several times before, but I'm feeling too bloody old and knackered for this one! Getting planning in place was just an idea in the hope it might attract more attention, but as said, a developer can deal with that!

You need to find out if it’s worth more with pp. would you develop the plot? What would you seek to do with pp?

If it has easy ish chance of planning for flats a developer will pay slightly more for it. If its worth changing into flats, sometimes big houses have such a premium that it makes no sense to turn into flats

But you can pull it down and start again.