Selling a landed property (double storey terrace) with quite a lot of land space for extension at the front.

The problem is, this house has been neglected since I moved out a few years ago (so kinda messy, dirty etc) and renovation is definitely needed.

Question is - should I renovate and sell at a higher price, or just sell as it is so that the new owner has more freedom to renovate it to his/her preference?

Thanks!

This post has been edited by ayamback: Nov 8 2017, 04:20 PM

This is my view....

i wont say renovation... is to make it presentable.

If not presentable :-
1. hard to sell bcs is not ready to stay
2. nowadays housing is so expensive, when the person wanted to buy they also no money to renovate. mae your house ready to stay, so no need renovate also can stay.
3. renovation cannot be loaned.

Renovate will not increase the price high enough to cover renovation cost I believe for Malaysia market. Probably just get it clean and repaint with Matex

Thanks, both. To provide more details, the flooring is in pretty bad shape too, stairs/windows/doors are all old, kitchen sink too. So earlier I thought either a full reno to a very good standard or sell it as it is so that the new owner doesnt have to remove the new stuff I put in and has more flexibility to choose what he wants.

But judging from what you said, I guess I'll have to change some stuff to new and repaint everything.

I agree with both of the above. Because if it is not presentable, people will either walk away or offer you a lousy price. Today is a buyers market, so they will be shopping around.

Location Location Location

People will buy fixer upper at high price

Doing a basic touch up and painting (at least windows are not broken, floor is "usable", water piping is ok condition etc. aka make it "clean" and presentable as basic, instead doing a full fancy renovation.

At least it is presentable to interested buyers.

If the house is in bad shape, even the most interested buyers also want to low ball extremenly the price cited your house is in bad shape.

Thanks, all! I know what to do now. Will fix the property up to a liveable standard.