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http://www.rightmove.co.uk/property-for-sale/property-25424452.html

House is about 1/2 mile from the road. Only access is via a grass track, which I trekked down to have a look. No mains service. Roof appears to have been charmingly chewed; house is a wreck. The kind of property that once upon a time would have been sold for a reasonable price given all the obstacles to actually living there. £500k. Basically you're buying a plot of land with difficult access - a builder's delight. No longer under offer and newly available. Don't miss out!

edited to add that there were a number of rusted out clunkers on the property, possibly airlifted in to add character.

Edited by happily renting

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Actually the Hastings line, but yeah, it's pretty close. To amuse yourself you can go out and cause points failures.

There are lots of overpriced houses around here; this one just struck me as an egregious example, given the location. Good for hermits, misanthropes, and mad scientists looking to set up a laboratory in solitude to breath life into frankenstein sheep.

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Plenty of such round here: 500k for a house to demolish, 500 k building costs and you end up with a house worth 750...

Nothing suggest the house is structurally unsound, and even if it was, you could build a nice replacement property on the plot for under £250k, as long as it's not listed.

That said, it's too close to the railway and to far outside the M25.

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Nothing suggest the house is structurally unsound, and even if it was, you could build a nice replacement property on the plot for under £250k, as long as it's not listed.

That said, it's too close to the railway and to far outside the M25.

you could, but most people put a 4000 sq ft house onto a plot luke that, and unless they tightly project-manage it themselves rarher than using a builder for the whole thing it comes out at about 500 k

not saying it's impossible, just that that's the scenario I see

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Nothing suggest the house is structurally unsound, and even if it was, you could build a nice replacement property on the plot for under £250k, as long as it's not listed.

That said, it's too close to the railway and to far outside the M25.

The overall location is interesting and it does make me wonder what a realistic price is.

It sits between:

Tunbridge Wells - quite expensive

Hastings - about as cheap as you can get in the South East

Gut feeling is that is probably worth about £380-420k. In TW in good condition it might be worth £800k, but in Hastings it would be about £500k in good condition. But in this case a lot of work seems to be needed. I'd say £380k for the plot and £200k to build would give you something worth about £650k, so not a handsome profit for all the work and risk.

If you tried to building something larger, say for a £400k budget, I think you might run the risk of not selling as you'd need to price it at £900k to make a profit. I can't see that area holding that sort of price.

Edited by Mikhail Liebenstein

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A lot depends on how much of a state the house is actually in. If it could be refurbed for £200K, it would make sense - its a big house in a rural location. Does it have much land around it?

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If you tried to building something larger, say for a £400k budget, I think you might run the risk of not selling as you'd need to price it at £900k to make a profit.  I can't see that area holding that sort of price.

Yes, this is the mistake made round here. There are several nice houses that are refurbs/rebuilds, but people paid over the odds for the original house n 2007 and have developed it to a 900k house. Which there's almost no demand for.

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The SE is full of bonkers carp like this - a further example here ... nearly a quarter of a million for a sh!te farm shed in a renowned flood area and you are not allowed to live in it!   :lol:         My link

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Presumably it is not on Street View?

Satellite view only for this one, unless Google have started sending out Range Rovers. I may not have made it clear just how bad access is. Whoever buys this will have to drive over what are basically fields to get to their front door - if they don't get stuck in the mud when it rains. Good luck getting deliveries of any sort, never mind something so prosaic as the mail. I have no idea what building a very long driveway costs, but that's going to have to be the first order of business.

The overall location is interesting and it does make me wonder what a realistic price is.

This is bubble money for debris in the shape of a house on a modest piece of land with unremarkable views and Southeastern trains as neighbours.

The SE is full of bonkers carp like this - a further example here ... nearly a quarter of a million for a sh!te farm shed in a renowned flood area and you are not allowed to live in it!  My link

We are advised by the vendor that the property achieves approximately £600 per week in high season and £350 in low season.

High season must be when the convoy of motorcyclists heads down the nearby A21 on their annual migration to Hastings.

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http://www.rightmove.co.uk/property-for-sale/property-34988141.html

This has come down a bit, and lost a bedroom - maybe it fell off.

Nice location though.

I saw a 12 bedroom house in Poland with 30 acres back in May all for £220000. Lakes on 3 sides so easy to defend. I was thinking about buying and selling timeshares to HPC - TFH'ers :D

Edited by Kurt Barlow

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Plenty of such round here: 500k for a house to demolish, 500 k building costs and you end up with a house worth 750...

Except that a fully restored house on the site quoted seem to be worth circa 2 and half mil.

If round your way the end price is only 750K then the land wouldn't be selling for 500K, would it?

tim

Edited by tim123

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The overall location is interesting and it does make me wonder what a realistic price is.

It sits between:

Tunbridge Wells - quite expensive

Hastings - about as cheap as you can get in the South East

Gut feeling is that is probably worth about £380-420k.  In TW in good condition it might be worth £800k, but in Hastings it would be about £500k in good condition.  But in this case a lot of work seems to be needed.  I'd say £380k for the plot and £200k to build would give you something worth about £650k, so not a handsome profit for all the work and risk.

If you tried to building something larger, say for a £400k budget, I think you might run the risk of not selling as you'd need to price it at £900k to make a profit.  I can't see that area holding that sort of price.

I think you have seriously underestimated the potential of a site this big in open land

try this one:

http://www.rightmove.co.uk/property-for-sale/property-18628170.html

Edited by tim123

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I think you have seriously underestimated the potential of a site this big in open land

try this one:

http://www.rightmove.co.uk/property-for-sale/property-18628170.html

I'm assuming you don't have to drive across a couple of fields to get to that one...

Maybe I'm living in lala land, but given my descriptions upthread I just can't see that great a value here, and I know this area pretty well. Then again maybe that explains why I'm not a property millionaire.

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  • 152 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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