renovate house to increase value

[rupert7]

Is there much opportunity to add value to a house in need of some renovation?
In boom time if you did €30,000 renovation the house value could go up by €70,000.
I know it very vague but is there much scope for that in todays market?

 

[rupert7]

Just as a quick example
For this house which looks very old fashioned inside
[broken link removed]

If you were to put in a new kitchen, fire place, new carpets etc and just moderise the house a bit would the increase in value be much more that the money spent renovating?

 

[ryaner]

Increases in the boom times where mostly due to time past. If the market is going up by 10% a year, and your renovations take a year, then by doing nothing you could of still gained 10%.

 

[Padraigb]

Obviously we are dealing in opinions here, and we should also remember that every situation is unique.

My opinion is that major renovations are generally a waste of money. You might not make the house any more appealing, because people have different tastes. The same goes for carpets and curtains: most buyers don't give great weight to them.

The money that is worth spending is on freshening up the property. Clean up the garden; deep clean the house; a lick of paint where walls are grubby; wash the curtains; that sort of stuff - a spend of hundreds rather than thousands.

 

[ryaner]

Just as a quick example
For this house which looks very old fashioned inside
[broken link removed]

If you were to put in a new kitchen, fire place, new carpets etc and just moderise the house a bit would the increase in value be much more that the money spent renovating?

Just looked at this house, I'd strongly suggest looking at similar properties on that road, see the condition they are in and what prices they are going for. I was looking in the area a few months back and there was quite a few properties available.
Also unless you plan on living in the house, renovations here are unlikely to do much, it is right beside DCU so prime for rentals.