Return on refurbishment costs?

Heighway61

I inherited a three bed 1960s semi. The intention is to sell in the coming months.

It's very tired and rough around the edges. At a minimum it would need full decorating inside and out, and new flooring throughout Probably need a kitchen. Bathtub needs replacing, hoping this can be done and keep existing tiles which are fairly new but might not get away with this. 20ft of garden wall needs tumbling and rebuilt.

If I got this work done and anything else that will pop up could I get my money back when selling?

And the taxman will be getting his third.

herbalplants

My advice is not to do that, just a waste of money and time for you.

I seen this recently in a 50s house, the siblings were selling the inherited house and it was advertised as newly decorated etc and it was Cheap! And it looked Cheap. And obviously they wanted a better price for this house because they spent money in the decoration. But how would they know the taste of the buyer. They put a new kitchen but sure kitchen space not fit for purpose so would have been ripped by buyer and extension added. The bathroom again cheap and cheerful. Laminate floors throughout the hall badly put down, you could see it around the skirting. Hey they thought it was freshly decorated.

Depends what area the house is in and how much you want to achieve as price but as I said you can't really guess the buyer taste.

RichardAnd

If you put 100k into a house, you will not increase the asking price by 100k. If the house is in a desirable location, it will get a buyer. As an example, a house in need of work up the road from my mother's house sold last year for 500k. Most houses on the road will go for 550-600, so there wasn't much of a difference in the price at the end of the say.

I'd just list the house, sell it and take the money.

cruizer101

You'll never get your money back on refurbishments as most buyers will want to put their own stamp on it.

A good clean and clear out can be worth it to show the potential space. Maybe a lick of neutral paint but even that I'm not sure if worth it. Its a sellers market out there at the moment, you don't need to make your house look prettier than others, 4 walls and a roof is enough to sell.

Claw Hammer

The work you are describing would be worse than useless. Anyone buying it would immediately take it all out and start again. They will bid accordingly.

Houses of that vintage need a huge amount of work to bring them up to date. Full rewiring full plumbing and heating installation on external walls, possibly new windows, attic insulation followed by a re-skin and redecoration of the entire. All that will inevitably lead to new bathroom appliances, new tiling in the bathroom, new kitchen units and new flooring and tiling in the kitchen.

The best thing to do is simply declutter it and clean it. make it as presentable as possible, spending as little as possible.

Most buyers underestimate the cost of the work and will bid accordingly. Pass your problems onto someone else.

mariaalice

Nobody wants an economical half-the-work-done refurbishment, they either want it as is and do the work themselves or a total top-quality refurbishment, tidy the garden and cut the grass, clear all the rubbish, and get rid of the furniture, your going to have ot do it anyway and tidy up that's it.