Should I renovate or just sell as it is?

Should I modernise a property?

If you inherit a property then you might think about doing it up to sell it and make more money. Is this a good idea?

In a rising market, when many of the Sarah Beeny episodes were filmed, she pointed out that people would have made as much money by not doing any work at all.

In a falling market there’s a risk you’re wasting money on doing up a property.

If you are a builder or have lots of good DIY skills, then it might be something to do. But it’s probably best to get it on the market and see how it goes. Sometimes a renovation project can really fire people up. It’ll get interest from builders, from first time buyers looking for a more affordable way of getting on the property ladder, and people who fancy doing a renovation for fun.

If you did start renovating, then how much should you do? You have to be aware that starting a renovation project generally makes things worse before it gets better. Sometimes it can get a lot worse.

If you rewire, then you need plastering work done, which probably means redecorating every room in the house. If you get the central heating boiler replaced, then this might need new pipe work, or ripping up flooring to get to pipes hidden.

If you need new windows and frames then this will also cause plastering work to be done, needing some redecoration again.

There are some basic things you can do, like remove old nasty carpets, paint rooms a neutral colour and leave the place clean but empty for viewings. A blank canvas might inspire people to put a bid in and ideally if you price it right you’ll generate more interest. If you get lots of viewings you might get some competing offers too.

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