State of decking when selling house?

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State of decking when selling house?

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jema
Downsizer Moderator

Joined: 28 Oct 2004
Posts: 28233
Location: escaped from Swindon

Posted: Wed Aug 30, 17 1:23 pm Post subject: State of decking when selling house?
We are about to sell our Swindon house which has a large deck at the back, but a little of it is rotting. I'm getting conflicting views on how much this matters and how drastically to deal with it. The deck is 17 years old, and I'm slightly inclined to just say sod it and replace the lot, but that might be over the top.

tahir

Joined: 28 Oct 2004
Posts: 45668
Location: Essex

Posted: Wed Aug 30, 17 1:31 pm Post subject:
What does the agent reckon?

Slim

Joined: 05 Mar 2006
Posts: 6612
Location: New England (In the US of A)

Posted: Wed Aug 30, 17 1:43 pm Post subject:

how "hot" is the local real estate market going? Is it a buyer's market or a seller's market?

(Isn't all of the UK a seller's market these days?)

I guess, the question is, how fast are homes selling, and how often are buyers requesting price reductions for small things.

I don't imagine you can raise the cost of the house by the amount a new deck will cost, but a new deck may make the house sell faster if that's a concern....

Behemoth

Joined: 01 Dec 2004
Posts: 19023
Location: Leeds

Posted: Wed Aug 30, 17 1:55 pm Post subject:
What slim said. Last edited by Behemoth on Thu Aug 31, 17 12:56 pm; edited 1 time in total

jema
Downsizer Moderator

Joined: 28 Oct 2004
Posts: 28233
Location: escaped from Swindon

Posted: Wed Aug 30, 17 2:08 pm Post subject:
Decking wood will only be about £400. Have not had an agent in yet, the place has been somewhat f&****d over by its previous occupant and we wanted to get a few things done first.

NorthernMonkeyGirl

Joined: 10 Apr 2011
Posts: 4630
Location: Peeping over your shoulder

Posted: Wed Aug 30, 17 2:16 pm Post subject:

I guess it depends on whether you're selling as "needs modernisation" - i.e. the buyer is expecting to do some work, or as "ready to go" where the buyer might be looking for something safe and sound on moving day.

Speaking hypothetically, I'd rather have one or the other. A house that is ready-to-go apart from one fairly big thing just feels annoying, perhaps I'd be unsure about the other works done, it just feels different somehow.

Slim

Joined: 05 Mar 2006
Posts: 6612
Location: New England (In the US of A)

Posted: Wed Aug 30, 17 2:20 pm Post subject:

The big question is whether you need to do the work to sell the house more quickly, I should think.

The economic aspect should be quite straightforward.
Increase in sale price
minus any taxes on capital gains of that amount (however UK taxes work on this subject)
minus the cost of the materials
equals your "profit" which could be broken down as an hourly wage for yourself if you do all of the work by yourself.

If you're not going to raise the sale price after the work is done, relative to what you would ask now, then you are simply paying time and money to sell the house faster.

john of wessex

Joined: 18 Jun 2007
Posts: 2130

Posted: Thu Aug 31, 17 7:44 am Post subject:
The new buyer might not want a deck...............

jema
Downsizer Moderator

Joined: 28 Oct 2004
Posts: 28233
Location: escaped from Swindon

Posted: Thu Aug 31, 17 9:24 am Post subject:

john of wessex wrote:

The new buyer might not want a deck...............

Not in this case! its deck or useless embankment.

Slim

Joined: 05 Mar 2006
Posts: 6612
Location: New England (In the US of A)

Posted: Thu Aug 31, 17 11:09 am Post subject:

Quote:

3 bedroom, 1 1/2 bath home, replete with useless embankment.

I don't know... it practically sells itself!

chez

Joined: 13 Aug 2006
Posts: 35935
Location: The Hive of the Uberbee, Quantock Hills, Somerset

Posted: Thu Aug 31, 17 8:12 pm Post subject:
If you have the spare cash, get it done. It will make the place feel more inviting when people are viewing. You can stick a table and chairs on it and encourage potential buyers to picture themselves sat out in the long summer evening with their drinks, chilling out. Nothing says misery amd despair like visible wood rot.

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