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Uplift from renovations?

2 replies

WasteOfPaint · 14/09/2022 17:44

I realise this can only be very general, but roughly what would you say the price ratio would be between a mid-doer-upper, and the same house nicely renovated?

By mid-doer-upper, I mean tired and shabby throughout, but perfectly liveable in.

OP posts:
Tryingtokeepgoing · 14/09/2022 18:31

Well round me during the last 2 years, the shabby stuff was going for almost as much as the refurbed, well finished stuff. I looked at loads before I moved 18 months ago and the economics of some of them made no sense, particularly as the cost of trades has gone through the roof. Many were priced within £50k of houses that needed little money spending, even though they needed £150k spending to get to an equivalent level of spec/finish/condition. So, I bought one that had been refurbed!

BlueMongoose · 15/09/2022 20:47

Right now I'd say you'd be lucky to get your money back on a renovation, especially if you did it all thoroughly. But it depends on whether you're talking cosmetics, or stuff like rewiring. Tarting a place up that was just a bit scruffy or tasteless in decor, if you did it yourself, might attract more buyers and get you a few thou more. Beyond that, it's a big gamble, especially in areas where trades are expensive and if your own DIY skills are not anything special and you don't have a LOT of time.
Personally I won't pay a penny extra for mere decor, as I do it myself and rarely like other people's tastes. I'd buy on house size and layout, quality of construction, plot size, area, etc. Things that can't be altered. And as for renovating- I prefer to do that myself so I know it's done properly. But I'm not a very typical buyer. I buy a house to live in long term, not to sell on.

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