Sell house half finished?

[yjones]

Hi
Ive recently bought a house that needed a complete renovation. However - for 'reasons' - I want to sell it. Im committed with the builders to finish the electrics, plumbing, kitchen bathroom install etc...
Whats the best time to sell: When its a 'working' house with electrics etc... put in? Or when the full house is completed with flooring, painted etc....?
Thanks

 

[oldbutnotdead]

Depends who you want to sell it to and how quickly. You can auction a house in any state you like, majority of customers will be cash so you'll get a quick turnround but a lower price cos smaller market. You'll get a much wider audience if the place is complete, decorated, fully signed off by BC, might even be worth throwing a grands worth of carpet at it to give that 'ready to move in' look.

 

[Notch7]

If you are getting that much done, you as well get it finished, or you will have paid out all that money and will get knocked for it being a part finished project.

I would down grade kitchen, finishes etc to the cheapest option. Paint the walls white.

Maybe leave the less important rooms unpainted like bedrooms utility etc, or just put on a mist coat.

Leave out appliances in kitchen.

 

[pilsbury]

Whatever your “reasons” are, potential buyers will possibly think there could be some sort of issues with the property - hence bailing out mid way through. You’ll take a hit for that. If your problems aren’t financial and you can get it finished you will get the most money back out if it.

As said, seeing as you aren’t going to live in it now, magnolia walls, white plastic sockets, cheap white gloss kitchen, cheap white bathroom suite and £3/m beige carpet with cheapest underlay. Will look clean, sharp and tidy for buyers to put their own stamp on.

 

[Emma Blaylock]

It's always worth trialling the house on the market as many people are looking for project properties now! It just depends what the problems are and how pricey they'd be to sort.

 

[yjones]

Thanks guys. Ive got a valuer coming out to look at it. Im committed with the builders to have it finished and be a 'working' house; so its whether its worth selling it now or whether its best to wait until the carpets are down and its been painted.

To my mind people want to put their 'stamp' on a property. So when the builders are finished all the difficult decisions (floorplan, heating, electrics, plumbing etc...) would have been made and the 'fun' bit will be left (paint colours etc...) for the potential buyers. But then - what do I know!?!? One thing I do know is I certainly will never renovate another property again!

 

[aptsys]

Thanks guys. Ive got a valuer coming out to look at it. Im committed with the builders to have it finished and be a 'working' house; so its whether its worth selling it now or whether its best to wait until the carpets are down and its been painted.

To my mind people want to put their 'stamp' on a property. So when the builders are finished all the difficult decisions (floorplan, heating, electrics, plumbing etc...) would have been made and the 'fun' bit will be left (paint colours etc...) for the potential buyers. But then - what do I know!?!? One thing I do know is I certainly will never renovate another property again!

The problem is many people do not have the space or means to put all their stuff in storage and live somewhere temporarily whilst they complete the job. You would almost certainly be better finishing the place so that it is liveable allowing them to complete one room at a time.

 

[Notch7]

Thanks guys. Ive got a valuer coming out to look at it. Im committed with the builders to have it finished and be a 'working' house; so its whether its worth selling it now or whether its best to wait until the carpets are down and its been painted.

To my mind people want to put their 'stamp' on a property. So when the builders are finished all the difficult decisions (floorplan, heating, electrics, plumbing etc...) would have been made and the 'fun' bit will be left (paint colours etc...) for the potential buyers. But then - what do I know!?!? One thing I do know is I certainly will never renovate another property again!

It sounds like, one way or another the house has bought you a lot of grief!

If you can get as far as putting a white mist coat on the walls an a white top coat -at least say in the key rooms, then that would make it more atractive to buyers.

I wouldnt bother with floor finishes as long as what is there is tidy.

 

[kevinsmbuk]

I am an estate agent and have been for 12 years. I can definitely tell you the right thing to do is finish it so it's ready to move in. It doesn't necessarily have to be the best quality fittings as long as the finish is good (the little things, i.e. plug sockets straight, walls painted well, kitchen & bathrooms fitted well. Time and time again I see houses sell that are cheaply fitted but sell pretty much as well as a house that has a high end finish. Someone will knock you heavily for not only the cost of sorting it out, but the hassle as well of walking into the unknown and they will knock you more than it costs to put it right.

 

[yjones]

Thanks kevinsmbuk. Everything will be signed-off (electrics, windows, building, stoves etc...) so hopefully that shows potential buyers that there are no 'hidden nasties'. TBH - after what Ive been through - painting the rooms and putting down flooring will be a doddle. (although still more expense!)

The garden is literally soil and concrete. It was a slope, so Ive created off-street parking and a sizeable space for grass to be laid. Do you think a completely non-existent garden (albeit it one that can have grass laid with lots of space for flowerbeds etc...) will put buyers off? I cant bare to finish the outside off too!!!

 

[DaveHerns]

Tell them you've seeded the lawn and it hasn't grown yet!

 

[kevinsmbuk]

Thanks kevinsmbuk. Everything will be signed-off (electrics, windows, building, stoves etc...) so hopefully that shows potential buyers that there are no 'hidden nasties'. TBH - after what Ive been through - painting the rooms and putting down flooring will be a doddle. (although still more expense!)

The garden is literally soil and concrete. It was a slope, so Ive created off-street parking and a sizeable space for grass to be laid. Do you think a completely non-existent garden (albeit it one that can have grass laid with lots of space for flowerbeds etc...) will put buyers off? I cant bare to finish the outside off too!!!

Garden is not the end of the world if it's not finished. I know it's not a new home but some smaller developers don't even finish the garden on a new build. However if it's at the stage where you can seed it then do so. If not then it would be a good idea if the agent let's people know beforehand, it just takes the impact off and most people will appreciate the honesty.