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I’d be holding on to a property in Chingford - prices in E17 have continued to go up at some of the fastest rates in London. Chingford and Highams Park will inevitably benefit from the overspill. Refurb for rental could probably be achieved at low cost but if selling then don’t bother as doubt it would be worth the time/effort. Just clean it and give it a lick of paint
Whereabouts in Chingford?
Tenderloin
My nan has moved into a home and won't be going back to her house again.
My parents are trying to work out what to do with her place - either the rental income or sale cost are needed for the care home.
The house definitely needs a lot of work - rewiring, old polystyrene tiles ripped out and new ceilings, new carpets, new kitchen at the very least.
The options would be:
A) Rent out as is
B) Refurbish and rent out
C) Sell as is
D) Refurbish and sell
Option A seems unlikely, B seems the most sensible. The place is in Chingford which is increasingly where Walthamstow price exiles are heading (but my parents aren't, so I will probably have to do a lot of the organisation).
If they decided to sell, I would rather buy a house that was a C than a D - but I know that discussion has been had in here before and that opinions are mixed, and I guess society at large would probably rather a neutrally-renovated house than a fixer-upper.
I don't really know what to advise them - I think B, unless there are strong opinions otherwise?