Q&A this week looks at renovations and open viewings or appointment only.
Renovating before selling
The tax breaks on my Section 23 apartment have expired and I am now going to sell the property. It has been a rental for the past 10 years. In terms of the likely return, is it worth renovating the two-bedroom apartment?
Absolutely. You don't say, but it's likely that your apartment has had several tenants in the past 10 years and, even if you were diligent about wear and tear repairs, the place is bound to be looking a bit dingy. Certainly buyers will think so, especially if they compare your apartment to the large number of new apartments that are now available. The apartment buying market has changed in 10 years; owner occupiers are now very much in the market and these buyers are not going to be impressed by an apartment that clearly looks like a rental. Investors, too, will know that renters now have much more choice so they will be more interested in buying a renovated apartment which will be easier to let than one that looks tired. You don't, however, need to do a great deal; even doing the basics will make a huge difference. Replace all carpets. If there are wooden floors - maple was popular 10 years ago - sand and varnish them. Get rid of the rental-friendly magnolia and repaint all rooms in a more interesting, though not too alarming, colour scheme. In the bathroom, regrout tiles and replace the shower curtain. Do as much as you can in the kitchen but, at the very least, regrout or replace the splashback, replace the worktop and change the doors on the units. Clean all appliances. Buy new bedlinen and dress the beds, replace curtains throughout with plain coloured readymades, and get rid of any broken or tattered furniture. It's only a week's work and a couple of thousand euro, but it will make your apartment much more sellable.
Open viewings or by appointment only?
I will be selling my house shortly and the estate agent has recommended selling by auction. This involves two open viewings per week for three weeks which I believe is standard. I do not want all comers streaming through my house and would prefer viewing by appointment only, though the agent is set against it.
Sales campaigns for a house going for auction are short - usually about three weeks - so the focus is on getting as many likely buyers through your house as possible. This of course means that property tourists and rubbernecking neighbours also fetch up and, while this is very annoying, there is really nothing that can be done about it. Most sellers dread open viewings but you must remember that, in a matter of weeks, you are not going to even own the house anymore and you won't have any control over what happens to it. So you need to start to get some emotional distance from your house. If you are worried about valuables and personal stuff like photos, remove them before the viewing. At this time of the year potential buyers have a great deal of choice and your aim is to make it as easy as possible for them to view. Phoning up an agent and making an appointment sounds easy but for many buyers it's too much trouble at a time when they are busy running around looking at a number of houses.
Send your queries to Property Questions, The Irish Times, 10-16 D'Olier Street, Dublin 2 or e-mail propertyquestions@irish-times.ie.
Unfortunately, it is not possible to respond to all questions. The above is a representative sample of queries received. This column is a readers' service and is not intended to replace professional advice. No individual correspondence will be entered into.
