Will the work on the house pay off?

[compact]

I have a house with a friend.

We've been planning to:
Double Glaze the house
Rip out the old 80's style fireplace and put a new one in.
Redecorate most of the rooms (painting, bit of skimming where needed)

However, he turned round yesterday and says he would like to out the house on the market next Spring/Summer.

Now i'm thinking is everything worth doing?
Mostly I'm thinking if we pay £4000 for double glazing, would it add £4000 to the eventual price of the house?
(as I've been in the house for the last 2 years, so don't mind another winter with old windows, if it will only add £2000 to the price of the house)

All advice welcome

Cheers

(oops wrong forum area, sorry)

 

[Blasphemous]

As you're no doubt aware, the BIGGEST factor affecting the value of the property is ALWAYS... Location! You haven't said 'where' the property is. How big the property is. How many bedrooms etc etc.

My advice for what it's worth is get an Estate Agent to give you a valuation with and without the work being done. Like most people on the planet, I can't stand Estate Agents (do ef-all for a handsome reward!), however, they will know the local market and have a reasonable idea of values. Obviously tell the work shy gits that you're planning to use them to sell the property whether it be now or in 6 months time otherwise you'll have no hope of getting them off their backsides!!!

 

[PrenticeBoyofDerry]

Also the HIP factor, if you intend to sell the estate agent or solicitor will arrange a HIP's on your house this will include and energy efficiency review of the property. So DG will improve that and the property's saleability

http://www.direct.gov.uk/en/HomeAndCommunity/BuyingAndSellingYourHome/Homeinformationpacks/DG_171802

 

[tim west]

One sure way to sell the house is to say what that guy selling the double glazing says....."You buy one you get one free, I said you buy one....."

 

[TicklyT]

Had to get a house valued for probate a while ago. Along trots a local estate agent, and says "£££££".

"OK, thank you" we said. "We would like you to sell the house for £££££"

The agent immediately started backpedalling. "Of course, the present market is artificially depressed - we couldn't sell it for any more than ££££"

 

[Nige F]

Had to get a house valued . "Of course, the present market is artificially depressed -

Yeah like the artificial recession

 

[Steve]

Theres a 2 bed house next door, plenty of potential with it*. Been on the market about 5 months. No offers. £120k. Theres a school at the top of the road and we are just within convenient walking distance of Doncaster town centre (1.5 miles) and a selection of local shops just round the corner.

*Similar to how ours originally was, now ours is 3 bed thanks to 2 storey extension, has a conservatory, and worth around £160k (about the ceiling round here).

People arent buying.

 

[noseall]

A house may become more 'saleable' as opposed to more valuable, as a result of the improvements carried out upon it.

The importance of being able to sell a house can be of a far greater value than not being able to, particularly if you are wanting to sell quickly without selling cheaply .

There may be two houses up for sale in the same street, that were identical when built. One house may have been improved sympathetically giving the interior a welcoming, bright spacious feel whilst the other could be dark and dowdy.

These houses could be on the market for similar dollar but guess which one sells......?

 

[Donkmeister]

I'd go with what Blasphemous said and talk to an estate agent.

I did that a few months back, as I have a plan of house upgrades as long as my arm. Knocking things through, moving the bathroom, new heating, rewiring etc etc. I wanted to know which jobs would add value and saleability to my house, and which were just nice-to-haves.

What it all came down to was "It all depends on the buyer".

For instance, if I have a combi boiler installed, then I alienate those who want an airing cupboard, but I score points with those who think it's cheaper to run. If I move my bathroom, I score points with those who want a big kitchen, but I alienate those who want a separate shower cubicle.

The other bit of advice he gave me was "consider the ceiling price for your street". My road is quite busy at times, so my ceiling is lower than if I lived in the same house but in a quiet cul de sac.

Have to say it was unnerving to see an estate agent talking without adding any B-S to the mix.

 

[Donkmeister]

A house may become more 'saleable' as opposed to more valuable, as a result of the improvements carried out upon it.

I found that with my last place. It got a lot of attention around the most unlikely thing that I hadn't even bothered to point out to the estate agent...

Whilst I was doing the place up I installed wiring for 5.1 surround in the living room, and a second zone in the bedroom. As it turned out, my market consisted of chaps in their early twenties and recently divorced men, both groups like to watch films in surround sound.

I wouldn't kid myself that £100 worth of speaker cable added a single penny in value to the place, but it certainly made it more saleable.

 

[IJWS15]

People arent buying.

Actually the indications are that there are plenty of buyers - there arn't many sellers.

BTW a for sale sign does not mean a house is for sale.

 

[holmslaw]

BTW a for sale sign does not mean a house is for sale.

What does it mean then?