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How many people would by a minor doer-upper?

27 replies

Sleepysleepycoffeecoffee · 11/10/2024 21:52

I’m really hoping to sell my house next year but am worried it’s not pristine enough to sell quickly. It’s a solid, 1930s detached 3 bed house with 3 receptions, 1.5 bathrooms, garage and large front and back gardens. It is generally tidy and well kept with new bathroom and kitchen in the last 5 years. However, the more I look the more I see it is quite shabby in places. Eg the skirting boards need re-painting, new carpet in hallway and stairs, new blinds and flooring in conservatory, some small marks on wallpaper from where we’ve had decorations up, the doors need re-varnishing. There is no major work to do and it is definitely liveable straight away.
So my question is, would you rather buy a ‘lived in’ house that needs some decorating if the price was very fair to reflect that (and probably a bit cheaper still to make it more appealing) OR would you rather pay more for a show-home style house? I’m thinking the difference might be around £10k but just a complete guess as havent had any valuations yet.
I can’t do all the work that is needed to get it top of its game due to financial reasons and a lack of time (toddler, baby on the way and currently working full time).

OP posts:
housethatbuiltme · 12/10/2024 13:16

HellsBalls · 12/10/2024 12:39

Nice theory @housethatbuiltme but from what I see for sale the condition is only reducing the asking price 10% at most.
There are so many 1930’s odd houses for sale that need a rewire, kitchen and bathroom, heating system, de artexing, but priced similarly to a new build or renovated property.
It’s a minefield and I can’t help but wonder who is buying these and why.

Because mortgage lenders often avoid properties that are unfit for living, you will have a more limited market of cash buyers, resulting in a decrease in demand and value. Therefore, you must subtract another 15% from the amount of money that will cover the cost of repairs to account for this restricted market.

The above is a quote from Property Savior website, like anything its not set in stone... like I said in my example you can chance going 10% (lots of EA are happy to list at 10% above) and if someone pays asking you lose less than 15%.

At the end of the day people will pay what they pay, some will pay over the odds for a full reno if its their dream other might not touch a dated house with a bargepole even if its simple fixes.

good96 · 12/10/2024 18:37

Sleepysleepycoffeecoffee · 11/10/2024 21:52

I’m really hoping to sell my house next year but am worried it’s not pristine enough to sell quickly. It’s a solid, 1930s detached 3 bed house with 3 receptions, 1.5 bathrooms, garage and large front and back gardens. It is generally tidy and well kept with new bathroom and kitchen in the last 5 years. However, the more I look the more I see it is quite shabby in places. Eg the skirting boards need re-painting, new carpet in hallway and stairs, new blinds and flooring in conservatory, some small marks on wallpaper from where we’ve had decorations up, the doors need re-varnishing. There is no major work to do and it is definitely liveable straight away.
So my question is, would you rather buy a ‘lived in’ house that needs some decorating if the price was very fair to reflect that (and probably a bit cheaper still to make it more appealing) OR would you rather pay more for a show-home style house? I’m thinking the difference might be around £10k but just a complete guess as havent had any valuations yet.
I can’t do all the work that is needed to get it top of its game due to financial reasons and a lack of time (toddler, baby on the way and currently working full time).

Me personally and having just agreed a sale for my house, I would re-paint the skirting boards, door frames etc if they need freshening up same with flooring too. Luckily we only replaced the flooring at the end of 2021 so it’s still got plenty of life. I did touch up the paint work though but this is me.
I wouldn’t really expect it to be reciprocated as I can see beyond cosmetic; only structural would be a concern.
The house/bungalow we are buying - the current owners have lived in there since the 1980s and was last refurbished about 20 years ago now so we’ll be going in and ripping it out. I don’t mind. I get to put my own stamp on the new home and have the design and finish I want!

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