Selling a house - what refurbs maximise value - white goods?

gazref

gazref

gazref

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Evening all,

To my surprise most of my recent house themed google questions have returned OCUK posts. So I thought I'd try get some experienced input from the gang. I'm fixing and sprucing up the house in order to sell. Looking to focus the budget the for maximum return and avoiding pitfalls.

Job list so far
New kitchen / wall knocked through to dining for open plan kitchen dine.
clean, declutter and paint
new boiler (gas A rated)
bathroom, ensuite and downstairs loo refits

maybe list
uvpc windows
garden project

In the first thread of many I'd like some steering when it comes to white goods. Is spending 1000s on washer/dryer/dishwasher value or waste? Is it common place to throw them in with the house or take them with you? I've read some posts that buyers either dont want or offer you low prices for leaving the goods behind.

Right now the dryer is an old school vented one that lives in the garage. Looking at a new heat pump one that can sit inside the utility next to the washer. They're approx 500-600 but arent considered fitted so you can take them with, included in price or sell to buyer. Do I cheap out, get a good brand or leave the set up as is ? Same with washer.

Cooker and dishwasher are knackered. 100% need replacing. Do I got mid-top end for these when the kitchen is redone.


Chuck any information and advice my way. I'll take anything you got.

Thanks
 
People are funny with appliances. No one will want to pay top dollar for having them but will not complain if their not there

get what you want and take with you’ll never benefit make money by buying with a few to leaving

for me personally it’s about thinking from a buyers perspective. So do things that will add value only and not cost fortunes a nee kitchen if the old one is obviously tired garden do you want to spend 4/5k to add 3 or just give it a tidy up at no cost.
 
Out of the three valuations I had done every single estate agent I had come was adamant it was not worth doing anything other than cleaning and a bit of paint tart up if needed, viewing feedback was that only people looking for buy to let property were at all bothered by needing to have work done and I wasn't keen on selling to them in the first place.
 
Are you saying you've done what's on the first list?

Most folk will take their white goods with them unless they're integrated. Some people like to rebuy fresh in their new house so will be open to selling them for a nominal value.

No one is buying a house because of the oven brand or whether the dryer is a heat pump model.
 
First list is the game plan. House was bought new and hasn't any major refurbs in a long time so it's dated. Estate agent gave us a value as I'd then a value refurbed . Makes sense to invest a little to realise the max value.
 
Personally my advice is to take your list, ignore it and put it on the market. The market is so hot right now you are almost guaranteed to sell pretty much any house in a passable condition for a reasonable price. Many of the items on your list are huge projects and you are looking at spending tens of thousands (and lots of time). You'll get a proportion of that back but I doubt you'll make any money, save your money and spend it on your next house.

For the most part, the price of 'normal' structurally sound houses is determined by its footprint. Sure condition has an impact but normally the costs of putting everything right is more than you'll get back. The advantage of buying a 'fixer' is that you can really shape it around your own taste and you are not paying for other peoples taste. The chances are you'll want to make changes to a property in excellent condition unless you have identical taste to the sellers which is rare.

By all means fix things so they work and make things presentable (e.g. clean, de-clutter and a fresh coat of paint) but I would not spend and significant sums of money making changes just to sell. For example if you put in a new white gloss kitchen, not everyone likes white gloss kitchens. In fact my wife despises them and we would rip it straight back out again as soon as we moved in so it wouldn't matter if it had a 20 year old kitchen or a brand new one if its not to the buyers taste.

As for your list:
New kitchen / wall knocked through to dining for open plan kitchen dine. - This could cost £10k on its own to do it properly and you'll need to do it by the book otherwise it will cause significant problems when you come to sell. You'll get some of what it cost back but not all of it and it may make it easier to sell.
clean, declutter and paint - do this if the current décor is bad, choose a neutral colour. You'll be surprised how this changes peoples attitudes to a property.
new boiler (gas A rated) - if the old one works don't bother, get it checked and just leave it.
bathroom, ensuite and downstairs loo refits - if the existing ones are acceptable then leave them, otherwise just chuck in something cheap and neutral, you'll get a fraction back but it may make it easier to sell.

maybe list
uvpc windows - I wouldn't bother, costs thousands and you'll get a fraction back back. It might put off some buyers but some will not even look.
garden project - proper landscaping is incredibly expensive, just tidy the garden and leave it neural, you'll get very little back of what you spend on changing it but it may make it easier to sell.

As for appliances, @dLockers hits the nail on the head. If they are integrated most people would expect you leave them but that isn't a given and it forms part of the contract of sale. Most people don't even open the cupboard to check what brand it is let alone if its a decent model or not. If you buy something and intend on leaving them, spend as little as possible.
 
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I wouldn't bother, just sell as is. Unlikely to add significant value especially after all costs including your time are taken into account. Life's too short to spend it building someone else's kitchen!
 
I should have added that the way other people make money on 'fixer' houses is that they do the vast majority of the work themselves. As soon as you start paying trades people £200+ each a day to do the work, the costs escalate significantly and quickly overtake any 'savings'. To put it in perspective, the cost of refurbing a 'normal' bathroom is normally more than 50% labour and the cheaper you go on the components, the higher % of the cost is labour.
 
b0rn2sk8 said:
The market is so hot right now...
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Not around here it isn't.

gazref said:
Is spending 1000s on washer/dryer/dishwasher value or waste?
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Who is your target buyer? A first-time or BTL buyer will appreciate white goods, for instance. Though I'd buy a cheaper model of washer / dryer and dishwasher. Say £1000 for both. And what are the carpets like? If they're worn, a first-time buyer will appreciate new carpets; a BTL buyer will appreciate hard-wearing carpets.
 
Buying new white goods is a false economy IMO. Some people might have goods to bring with them, those who don't probably want their own choice of appliances or will only offer a small amount extra for them. So say you've spent £1500, people might give you an extra £500 on average (made up numbers).

Garden project is likely to have good yields, especially nowadays where people are spending more time at home. Spend £2k to add £5k value that sort of thing because it just creates a nice impression for people. Unless of course your garden is already top notch... the worse the garden currently is, the more gains to be had (stating the obvious but house choices are lifestyle choices and an overgrown thicket with a broken shed and piles of rubbish isn't a lifestyle people aspire to.
 
put £1 in and I doubt your even raising the price by a quid, + your own time wasted must be worth something.

paint, tidy garden maybe add a raised bed, clean pvc around windows etc

simple stuff that makes people think you actually cared for the house
 
Agreed for most works (decor / declutter / cleaning especially), but I don't think many buyers would be tipped over the edge based on white goods unless it was so horrendous as to be off-putting. Maaaaybe a flash cooker as part of a kitchen refurb could sell the dream I suppose but I think of that more as part of the kitchen refurb. Tumble dryer and dishwasher, meh, again unless they are some sort of universal integrated approach.
 
Some great input so far thanks. Id love nothing better than to sell as is but I think that would mean leaving money on the table. House is a 4 bed detached in a family/professional commuter area. It's 20yrs old though and the boiler is g/f rated.

The agent cited a 50k valuation swing in bringing it up to standard. I was looking to spend 10-22k as a result. Smaller plot down the street with a much better finish recently sold for more than agent valued ours.
 
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gazref said:
Some great input so far thanks. Id love nothing better than to sell as is but I think that would mean leaving money on the table. House is a 4 bed detached in a family/professional commuter area.

The agent cited a 50k valuation swing in bringing it up to standard. I was looking to spend 10-22k as a result. Smaller plot down the street with a much better finish recently sold for more than agent valued ours.
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Pics
 
It's not worth responding unless you identify the below key determining factors.
  1. What is the estimated current value of your house.
  2. What is the ceiling price of an equivalent house in the immediate area/same steet/equivocal house I.e. Sold prices,
  3. How much do you expect to spend on each area?
  4. More details of each renovation area. I.e. What's the footprint of your wall knock through for example, are you being realistic?
 
gazref said:
The agent cited a 50k valuation swing in bringing it up to standard. I was looking to spend 10-22k as a result. Smaller plot down the street with a much better finish recently sold for more than agent valued ours.
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As above, is the similar house that sold down the road the same house on a smaller plot of land or a smaller house, how much smaller is it and how much more did it sell for?

Given the length of your list and your budget I think you may be significantly underestimating costs unless you are doing all the work your self and the agent may well be over estimating what value its going to add. The de-cluttering, cleaning, paining and the presentation of the property will by far have the biggest impact on its value for what you are putting in.

Have you got quotes for any of the major work yet? Prices are way up currently, that's both labour and materials, every person and their dog wants a refurb at the moment. The availability in the supply chain is low and prices reflect that.

Assuming it's a block wall then to get someone in to just knock it down, make it one room and refit the kitchen will leave very little change from that £22k. It will need a steal putting in, structural engineering calcs and building regs sign off before you even start on the kitchen, its not an insignificant job. You'll need to do it by the book or it will just cause you issues when selling.
 
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As is value was pre lockdown 1.0 was 400. 450 with work. Last sale in Street was 480 feb this year. 445 2019 which is what estate agent was keying off as achievable.

Market here is booming. Buying anything is expensive which is what I need as much as I can get. Finish on houses I've been looking at confirm this needs a spruce up.

Doesn't the adage buyers always overestimate cost of work to be done and try take that off apply? I know that bleeds into easier to sell. If the buyer thinks it needs X amount to do up then I'm sure spending 1/3 or half X it's worth it to achieve asking.

Dining wall is 2.7m plaster board partition. Thinking 2ish k. Not had quoted yet
Boiler install 2-2.5k.
Downstairs loo is small, new toilet basin and flooring. 1k?
Bathroom 3k.
Kitchen face lift , new top and unit doors. New flooring, cooker and dish washer. No quotes yet but
Windows were best quoted at 7k after 2 companies.
Gardener quote was redic , sounds like he's got more than enough work to inflate prices on so that's a maybe.
Door gloss and skirting has yellowed so might set aside few 1000 for decorators to do hallway upstairs
Carpets
 
gazref said:
Doesn't the adage buyers always overestimate cost of work to be done and try take that off apply? I know that bleeds into easier to sell. If the buyer thinks it needs X amount to do up then I'm sure spending 1/3 or half X it's worth it to achieve asking.
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If the market is booming there's arguably less need for a big project as there will be less competition and more buyers of which some may be prepared to take on a property with suspect finish. It's not like in a slump where buyers will casually review a host of properties and discard any that aren't in turnkey condition. They might not be in a position to say "this needs loads of work, knock of £xx", they might be priced out of the properties with slick finish, but yours is priced at £450k so they can buy it and do the work over time. If your house was done up, some of these buyers might not even walk in the door because it's too expensive.

That said, I do know what you mean about wanting to prep a house for sale, we were thinking of moving about 5 years ago but never got the house to a state we were comfortable putting it on the market.
 
Rule of thumb for me (and colleagues that have flipped houses) is if you're looking to sell, then a fresh coat of paint and any dangerous issues rectified. If you're looking to live, then you start renovating. You won't recoup the cost of renovation come selling time, and as pointed out above houses are selling like hotcakes right now.
 
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