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I’d sell as is;
Unmodernised houses have a weird premium on them (it’s clear what you are buying and it’s a blank slate). There will be demand and you won’t get loads of hassle during the sale.
Modernising it exposes you to having to deal with builders and suppliers and all the chaos that causes. As you won’t be living there it’s likely to get fucked up in some way. You will resent having to buy your way out of trouble when it goes wrong. It’s risky and fraught.
Then Renting is a ballache and the yield on houses is poor.
Howard
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?