Apartment makeover.
Discussion
I have a buy to let apartment in central London.
The location is excellent and it's in good condition.
The bad news is that the area has become more competitive and the flat has been empty for a month. It usually lets in about a week. Viewers are saying "in good condition but old fashioned compared to neighbouring apartments".
The place looks ok to me but I am old.
Who do I turn to for advice in designing a makeover?
The location is excellent and it's in good condition.
The bad news is that the area has become more competitive and the flat has been empty for a month. It usually lets in about a week. Viewers are saying "in good condition but old fashioned compared to neighbouring apartments".
The place looks ok to me but I am old.
Who do I turn to for advice in designing a makeover?
Thanks for the input - I'll post some pictures when I get home.
I could drop the rent but I think that'd lead to downward spiral. My gut feel is to either fix what's wrong or sell.
My problem is that I don't really have a handle on what needs to be done. I need something like an interior designer to come in, tell me what to do and estimate the cost. I can then do the sums and decide whether I'd ever get the money back.
When I google 'interior design' I get a list of companies that look like they cater to oligarchs. I think that I need a more consumer level option.
I could drop the rent but I think that'd lead to downward spiral. My gut feel is to either fix what's wrong or sell.
My problem is that I don't really have a handle on what needs to be done. I need something like an interior designer to come in, tell me what to do and estimate the cost. I can then do the sums and decide whether I'd ever get the money back.
When I google 'interior design' I get a list of companies that look like they cater to oligarchs. I think that I need a more consumer level option.
New kitchen cabinets (or at least doors)
New flooring throughout (real or engineered wood)
New kitchen countertop
New appliances including an integrated washer - dryer and cooker hob.
New Living room lights (recessed would be better)
New dining table and chairs.
Get rid of the world's smallest TV and wall-mount a 50 - incher.
Easy.
New flooring throughout (real or engineered wood)
New kitchen countertop
New appliances including an integrated washer - dryer and cooker hob.
New Living room lights (recessed would be better)
New dining table and chairs.
Get rid of the world's smallest TV and wall-mount a 50 - incher.
Easy.
How many bedrooms is it?
A better laid out kitchen would look a lot nicer. That one looks a bit cramped at the moment.
Otherwise, the living room looks fine, so assuming the bedrooms and bathrooms are similar, it's probably just the price that is the problem.
I would hold off on an interior designer. Would their fee be tax deductible? Otherwise, it's a bit overkill for some decorating and new kitchen/bathroom etc.
Most of the work would be improvements/not repairs so maybe not tax deductible, so given the house isn't particularly bad, you won't get any tax relief against the rental income anyway?
So no immediate benefit to doing the work if it can't be offset? So maybe dropping the rent and spending nothing up front might be better?
A better laid out kitchen would look a lot nicer. That one looks a bit cramped at the moment.
Otherwise, the living room looks fine, so assuming the bedrooms and bathrooms are similar, it's probably just the price that is the problem.
I would hold off on an interior designer. Would their fee be tax deductible? Otherwise, it's a bit overkill for some decorating and new kitchen/bathroom etc.
Most of the work would be improvements/not repairs so maybe not tax deductible, so given the house isn't particularly bad, you won't get any tax relief against the rental income anyway?
So no immediate benefit to doing the work if it can't be offset? So maybe dropping the rent and spending nothing up front might be better?
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