Help! change of plan, renovating a house for sale

[Dave]

I'd need some advice with a house I am renovating. The house was in a real state when I acquired it and has been completely gutted. A lot of work has been done already and I'm nearly ready to have it plastered then fit a new bathroom, kitchen, lighting, fireplace, new flooring in places etc. Originally I had planned to move into the house when completed, but due to a change in circumstances, I will probably be selling it and moving elsewhere now.

The thing is, my tastes are not shall we say mainstream, and if I where to complete it the way I planned, I may have the ideal house for me but probably not a house that would appeal to most potential buyers.

I'd appreciate it if anyone can suggest any resources, books, websites or whatever or offer any general advise on what makes a house saleable and how I can best complete the job with a sale in mind.

Thanks

Dave

[Dave Plowman (News)]

Crikey. There's about a dozen progs a week on TV on exactly this subject.

[HLAH]

Plain, cheap, white, UPVC, magnolia, tidy the garden up - wallop dosh.

H

[paul]

The local estate agent would be the best person to speak to. They could give you an idea of what people are after. I would say basic, clean and not over the top. Some people want to customise a home to their taste and others expect the world. Also try looking at other houses in the area, maybe go and meet the neighbours. Neutral colours are best, make it bright! You must be mad! Hope it works out.

[The Natural Philosopher]

Its easy.

Make sure everything is in place and works. Otherwise go for as plain and light a finish and spend as little as you can.

People buying houses want two things

1/. To be able to move in immediately without *having* to do anything.

2/. To stamp the house with whatever taste..or lack of it - they want.

That means that whilst they won't want a kitchen that isn't there, trying to second guess what they WILL want is pointless. Just put in something plain simple and modern.

You may be able to some extent use an agent to ID a target market - bachelor flat, first time buyers home, small family home, footballers wifes gin place etc..but the reality is, if they are strapped for cash, they won't change anything, and if they are flush they will change the lot anyway. Irrespective of what is there already.

About the only things worth doing apart from kitchen/bath fitouts is to make sure that there is cupboard space throughout. Then paint it all white, put down cheap carpet or laminate or vinyl..don't waste money on real wood floors or tiles..or on fancy kitchens either.

NAnd sell the thing and walk away and don't look back, to watch them putting fitted carpets over the parquet, throwing the aga in the skip, ripping off your flock wallpaper and putting up woodchip..or removing your gold plates shower and putting in a bath..

[Robert Laws]

have you considered how to legally avoid capital gains tax?

If this is the only house you own, and actually even if it is not, then I would urge you to live in it (maybe only nominally) for about six months, making it your 'main residence'. Remember especially to change your address with the tax people and most importantly to register to vote there.

When you sell, the profit will not be taxed becuase it was your main residence. In fact you will be able to retain ownership for a further three years (letting it perhaps) and still retain this generaous tax concession.

Robert

[Cicero]

=============================== And the advice generally boils down to the same thing - bland and impersonal.

The big turn-off is something dirty, smelly and untidy and decorated in psychedelic colours.

Cic.

[mogga]

Sarah Beeny is on tonight I think? She's done a few books too - always worth a look what they have on the shelf at the library.

[terry]

Robert's advice is probably the most profitable of this whole thread. A married person could even consider 'separation', at least on paper, if necessary to prove separate residence!

There was a somewhat similar case (although in reverse as it were) where it was important (for tax purposes) that one member of a couple retain ownership and residency while the other contracted overseas. They went to a lawyer and signed a 'Separation Agreement'.

All went as planned, In addition to retaining residency the spouse offshore was considered to be an unmarried, non-resident, working outside the country and therefore not subject to income taxes as would have been as 'a resident.

Naturally the overseas spouse sent home 'support' money to their 'estranged' family and 'surprisingly' shortly after the overseas spouse returned the couple 'patched things up' and got back together!

Happy outcome and ending!