You have a house to sell and you're stuck on what to do. A builder has left you a quote to redo everything. One friend told you a renovated house sells for more; another told you not to spend a penny.
Call us. In ten minutes we'll tell you whether a meeting is worth it.
Both can be right, depending on the house. With one house, renovating before selling can make you money. With the house next door, it can lose you money. The difference comes down to three figures: what you'd get today, what the work really costs, and what the market will pay for the finished house.
The third figure is the hard one. Your new kitchen doesn't decide it. The area and the house's own features do: which floor it's on, the light, the condition of the building, the energy rating. Two houses in the same block can be worth very different amounts.
Then there are buyers who actually want a house to renovate, so they can choose their own finishes and layout. They won't pay for your work.
Then there are two things people underestimate: time, and the real cost behind the quote. Between design, building work and the sale, months go by in which the house isn't sold and the costs keep running. The builder's figure isn't the final cost: it leaves out professional fees, permits and surprises. And often the person giving you advice isn't the one paying.
There's no percentage that applies to every house. The increase doesn't depend on how much you spend. It depends on what the market pays for a house like yours, once renovated, in that area.
If you'd like a rough idea yourself, start from real data: the prices at which homes similar to yours have recently sold in the same area. Compare homes of the same size. Alongside that, get a quote for the work: the other hard figure you can get.
These are two starting points. A reliable estimate weighs many other factors, from the condition of the building to the energy rating and the state of the market. Which of them matter for your house, and by how much, is the work we do when you call us.
This is a simplified, hypothetical example, not a real case.
A 90-square-metre flat in Trieste in need of renovation. You're offered 135,000 euros.
The other option. A full renovation costs 90,000 euros in building work, plus 8,000 for professional fees, permits and surprises. The work and the sale take eight months, which cost you another 2,000 euros in taxes, condominium fees and utilities. Once finished, it sells for 230,000 euros in that area. You're left with 130,000: about 5,000 less than you'd have had straight away, after eight months of building work and with all the risk on your shoulders.
Same house, option two. You bring the wiring up to standard, redo the bathroom, repaint, clear the house and have professional photos taken. You spend 12,000 euros over two months and the house sells for 158,000. You're left with 146,000, about 11,000 more. Selling as it is leaves that money on the table.
This is a simplified example. In reality the condition of the building, the energy rating, the state of the market and the length of the work can change it a lot. We can tell you which of these matter for your house once we've seen it. That's the first reason to call.
There are six. None is right every time: what matters is knowing when each one makes sense.
It makes sense when today's offer is close to what the market pays for the same house once renovated, when the house has a flaw that no amount of work can fix, or when you need the money now. Often the buyer isn't a family but a professional renovator.
It's an option that often works. Wiring brought up to standard, the bathroom redone, a fresh coat of paint, the house cleared, professional photos. A few thousand euros and a few weeks. It puts the house in the move-in ready category, which buyers pay a premium for. Beyond that, every extra euro you spend may return less.
It makes sense when there's a wide gap between the price as it is and the price of the same house once renovated, when the work is predictable and you can afford to wait. It means building work, surprises and the risk that the market moves. Before deciding you need a design, a specification and a quote: they're what keep surprises off the building site.
Worth considering when the area is in demand and you don't need the capital. Instead of a one-off sum you get an income every year, with management, taxes and upkeep at your expense. Here the figure that matters isn't a price but a rental yield, to compare with what you could earn from the sale proceeds.
It's an option you rarely hear suggested, and sometimes it's worth more than a renovation. A large flat can become two separate units, or a three-bedroom flat can be let as three separate rooms. You're not improving the house: you're changing who you sell it to. It needs checking, because the council, the condominium and the technical requirements decide what can be done.
It's a choice, not a postponement, and sometimes it's the right one. It makes sense if prices in your area are rising and you can afford to wait. It doesn't make sense if the house is empty: left unused, it costs money every year in taxes, bills and upkeep, and deterioration does the rest. Doing nothing by choice is an option. Doing nothing because you don't know what to do is a cost.
There are six options. Which one suits your house only becomes clear once the figures are worked out.
For your house, the study sets out the six options side by side. We don't tell you “renovate” or “sell”: we tell you how much you'll be left with at the end of each one.
You read it. It's yours to keep. You decide whether to go ahead. If you like the way we work, we'll give you a quote for the in-depth study.
And if the answer is that it doesn't stack up, we'll tell you that too. We've done it before.
The Preliminary Feasibility Study is not a formal appraisal, an official valuation, an architectural design, a building quote or an estate agency agreement. We don't ask for exclusivity and you don't sign anything.
This flat sold above the asking price without any building work.
A three-bedroom flat near the university. The owner wanted to sell a flat in need of renovation, laid out for a family. We drew up a financial plan to turn it into three rooms let to students. The rental yield would rise from 6% to 10%, with no extra work for the landlord. With that plan in hand, the owner marketed the flat to investors rather than families. It sold for 5% above the asking price.
The owner changed the target buyer, not the house. What raised the price wasn't building work. It was a set of figures.
It depends on the house and on what the work costs. The useful comparison is between what you're offered today for the house as it is and what the market pays for the same house once renovated, in the same area and of the same size. In between, allow for the full cost of the work and the months you hold the house. If you'd like the figures for your own case, call us.
There's no single percentage that applies to every house. The increase can go up to what the market pays for the same house once renovated, and that depends on which floor it's on, the light, the condition of the building and any outdoor space. From that figure you then subtract the cost of the work, professional fees and the months of holding costs.
They're two different calculations, and they need to be compared side by side. Selling gives you a lump sum once and ends the risk. Letting gives you an income every year, with management, taxes and upkeep at your expense. The real question is what your house would earn as a rental, net of everything, compared with what you'd get from selling it.
Sometimes they improve the numbers, but we don't base our figures on them. Our rule is simple: if a project works without them, it works even better with them. One thing to know straight away: the full rate applies to your main home, while for other properties it's lower, and someone renovating to sell is almost always in the second group. The deduction is spread over ten years, and only against Italian income tax, so today it's worth less than its face value, and the rates are set to fall further. If you then sell, who gets the unused instalments depends on the sale agreement and the rules in force at the time: check with an accountant. If you'd like the figures, call us.
Yes. The Preliminary Feasibility Study is free, with no conditions and no commitment. If you then want an in-depth study, we'll give you a quote and you decide. If we see no realistic option at all, we won't write the document: we'll tell you on the phone and won't waste your time. The preliminary study also helps us decide whether it makes sense to work together. We only get paid later, and only if you decide to go ahead. You receive the quote together with the first document, before you decide anything.
No. We don't handle property sales and we earn no commission when your property is sold. We look at the property, work out what it costs and what it could earn, and tell you in writing what can be done with it and who you'd need to do it. Then we work alongside the professionals involved: surveyors, architects, valuers, accountants and, where needed, estate agents.
We answer the phone ourselves. If we're out on a site visit, we'll call you back the same day.
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