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"super Barn Conversions"- Bought For £1M, + £1M Conversion, Asking Price £1.3M

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Wonderfully schizophrenic article in The Telegraph: "Super Barn conversions"

Barn conversions: super barns, super budgets

The shortage of country houses on the market has led to more flamboyant barn conversions, says Caroline McGhie .

A new Leviathan has arrived in the property market. It was born out of the boom years, funded by the new rich of the Blair era, for whom there were not enough big country houses to share around.

Welcome to the “super barn”, created by arrivistes to the countryside who took tired barn conversions of earlier decades, or redundant agricultural dwellings, and turned them into fantasy houses.

It was a double-your-money game. They didn’t balk at taking a £1 million barn and spending another £1 million on making it more luxurious, inserting all the attributes of the English country house – the grand hallway and staircase, enough bedrooms for weekend parties, the swimming pool, the grand room for huge dinner parties.

(...)

They are now selling to be near the schools they want for the girls – Tatiana, Georgia and Malia, aged five to nine. Bidwells (01799 516688) is asking £1.3 million.

:unsure:

http://www.telegraph.co.uk/property/propertymarket/7928059/Barn-conversions-super-barns-super-budgets.html

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My friend's brother bought a barn, spent five years doing it up, drowned in debt, then hung himself in it. He used to be a great funny man with a well paid job.

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My friend's brother bought a barn, spent five years doing it up, drowned in debt, then hung himself in it. He used to be a great funny man with a well paid job.

Cheerful story. Way to kill a conversation!

Edited by Kyoto

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My friend's brother bought a barn, spent five years doing it up, drowned in debt, then hung himself in it. He used to be a great funny man with a well paid job.

I am very sorry to hear that. Yes, the next years may be full of very tragic stories like that. A national tragedy.

Actually I was unable to put a emoticon in my OP stronger than the "unsure" exactly because of the pain so many people will be going through. Even if they are idiotic wannabes like some (many?) probably are. It is still tragic.

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Tatiana, Georgia and Malia

:lol: It's like a Catherine Tate script.

Do you think they have panic attacks when there's no brioche left ?

Edited by exiges

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My friend's brother bought a barn, spent five years doing it up, drowned in debt, then hung himself in it. He used to be a great funny man with a well paid job.

Yes, it is a well known fact that doing up a barn makes one suicidal.

My Dad lived in a rented house in Essex for a few weeks when he was a child. The flat had a boarded attic with a light and when they moved in he made it his den. He used to go up there to draw. He saw someone watching him sometimes and reported same to his father. An enquiry at the local pub revealed that the previous owner had hanged himself in the attic.

So, the message is - don't buy barn conversions or houses with boarded attics.

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I am very sorry to hear that. Yes, the next years may be full of very tragic stories like that. A national tragedy.

Actually I was unable to put a emoticon in my OP stronger than the "unsure" exactly because of the pain so many people will be going through. Even if they are idiotic wannabes like some (many?) probably are. It is still tragic.

Perhaps I am feeling a bit morbid today, but it came to mind.

I think it is about managing your expectations, I mean one day, did he wake up and think, oh, it's just a barn. Road to nowhere. He really did put his whole life into it.

Edited by Tonkers

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Perhaps I am feeling a bit morbid today, but it came to mind.

I think it is about managing your expectations, I mean one day, did he wake up and think, oh, it's just a barn. Road to nowhere. He really did put his whole life into it.

that's a sad story. the even sadder thing is it has been played out in speculative ventures for 100s of years, and people are still doing it now with housing

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I also like this bit

Hunwicks Barn is in a magical pocket of countryside near Clare on the Essex-Suffolk borders, a 55-minute commute from Audley End to Liverpool Street.

Its probably another 55 minute commute from clare to Audley end if you get stuck behind a tractor on those narrow, blind, winding country roads. Which you will.

So, if you work in london, youre probably looking at spending at least 4 hours each day in the car and then train.

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I also like this bit

Hunwicks Barn is in a magical pocket of countryside near Clare on the Essex-Suffolk borders, a 55-minute commute from Audley End to Liverpool Street.

You also missed this bit

They are now selling to be near the schools they want for the girls – Tatiana, Georgia and Malia, aged five to nine. Bidwells (01799 516688) is asking £1.3 million.

So the local secondary schools are crap.

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Closing statement :

They are now selling to be near the schools they want for the girls – Tatiana, Georgia and Malia, aged five to nine. Bidwells (01799 516688) is asking £1.3 million.

So the local comprehensive is dire and they can't afford to send them private, so why are they sitting on a £2 million pile - how did they afford the barn in the first place ?

Slightly off on a tangent but it's kind of along the same lines of the suicide theme others have set-up...

A few years back a man named Chistopher Foster in Oswestry, Shropshire murdered his family and then killed himself for being millions in debt. They lived in an aspirational manor house, horses etc etc and the papers still referred to him as Millionaire Christopher Foster, an oxymoron if ever I heard one.

ticking time bomb!

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My friend's brother bought a barn, spent five years doing it up, drowned in debt, then hung himself in it. He used to be a great funny man with a well paid job.

Salutory story. Tragic that people would rather kill themselves than face financial ruin though having said that I was once close to it myself (many years ago) - I divorced the source of my troubles and nothing was ever as bad again after that. I think that we should be able to walk away from debt tied to property like they do in America. The banks should shoulder the losses not the poor beggars trapped by the system.

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So the local comprehensive is dire and they can't afford to send them private, so why are they sitting on a £2 million pile - how did they afford the barn in the first place ?

Bit of an assumption. Not all private schools are good. Perhaps the private school they want to go is too far away.

Not just that, at up to £20k a year per child, £60k for all 3 is quite the expense and well worth moving to an equally nice house nearer a good public school.

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that's a sad story. the even sadder thing is it has been played out in speculative ventures for 100s of years, and people are still doing it now with housing

All those bubbles should be taught in school, History, to all secondary school students in the country.

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Closing statement :

They are now selling to be near the schools they want for the girls – Tatiana, Georgia and Malia, aged five to nine. Bidwells (01799 516688) is asking £1.3 million.

So the local comprehensive is dire and they can't afford to send them private, so why are they sitting on a £2 million pile - how did they afford the barn in the first place ?

Slightly off on a tangent but it's kind of along the same lines of the suicide theme others have set-up...

A few years back a man named Chistopher Foster in Oswestry, Shropshire murdered his family and then killed himself for being millions in debt. They lived in an aspirational manor house, horses etc etc and the papers still referred to him as Millionaire Christopher Foster, an oxymoron if ever I heard one.

ticking time bomb!

This seems to be the problem with all the 'rich tax' or 'wealth tax' calls. Which are firstly problematic because they are based on a more or less fictional value, not on yield (dividends) or realized uplift in value (CGT). Like the £11 million pound ruby that turned out to be worth £8k

http://www.building.co.uk/news/wrekins-ruby-sold-at-knock-down-price/3158263.article

The figure ive heard is tax 20% of everyone 'worth' over 1 million. Many of these will be highly leveraged, and the paper wealth would largely disappear on liquidation due to 20% of everyone worth over 1 million being sold at the same time.

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How on earth can you spend a million quid doing up a barn? Solid gold pumbing?

This is a very good question.

On the more depressing aspects - suicide etc - it is well known that debt is the main cause of desperation, depression (which can eventually lead to suicide, divorse, physical illness etc). And we are now more than ever saturated with debt due to HPI. Way to go.

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My friend's brother bought a barn, spent five years doing it up, drowned in debt, then hung himself in it. He used to be a great funny man with a well paid job.

Thanks for that as I am having the barn next to the house converted right now :)

It is a late Victorian barn of no great interest. A tree fell across it soon after we moved here and it was likely to collapse completely if we did not do something with it.

Sadly, we lost the skelbusen in the tree fall and with it the feature I liked best, the animal stalls.

I have found a builder who shares my approach; no swimming pool, no stabling for horses, second hand slates (they are cheaper than 'reclaimed' ones, funny how a word adds to the price.)

Nevertheless, it is an expensive exercise but other than letting it go, there was no alternative.

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How on earth can you spend a million quid doing up a barn? Solid gold pumbing?

You've not met my missus have you ? :lol:

Guaranteed to find the most expesive item in any shop. We found ourselves in a shoes shop a few years ago, everything marked up as discount items, £20 seemed to be the going rate.. she found a pair of flipflops she liked.. £200.. £200 for a pair of flipflops.. . Naturally we didn't buy them, but don't underestimate a womans ability to go up to and beyond the available budget

In our last house I spent a fortune on things "we needed for a house at this end of the market to sell", so put in granite worktops, decking outside, recarpetted throughout etc.etc. What did the buyers do when they first moved in ? Yep, ripped it all out.

Edited by exiges

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How on earth can you spend a million quid doing up a barn? Solid gold pumbing?

Typical scenario is when someone who knows nothing about building and construction decides to take on a project to make their 'dream home'. They proceed to pay over the odds for equipment, supplies and most of all dodgy builders and tradesmen to follow a dodgy design, who end up making mistakes. After this, they decide to consult an overpriced consultant to tell them how to do it and they have to redo much of the work paying more money down the drain.

It is still quite a challenge to waste a million doing this, but if their vision is ambitious enough, they might just make it.

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You've not met my missus have you ? :lol:

Guaranteed to find the most expesive item in any shop. We found ourselves in a shoes shop a few years ago, everything marked up as discount items, £20 seemed to be the going rate.. she found a pair of flipflops she liked.. £200.. £200 for a pair of flipflops.. . Naturally we didn't buy them, but don't underestimate a womans ability to go up to and beyond the available budget

In our last house I spent a fortune on things "we needed for a house at this end of the market to sell", so put in granite worktops, decking outside, recarpetted throughout etc.etc. What did the buyers do when they first moved in ? Yep, ripped it all out.

It's interesting you should say that because pretty much all the blokes I know, when you add up what they spend, spend way more than the women they are married to. This is pretty much accross the board - beer, eating out / takeaways / car etc.

I will always go for more expensive stuff than my partner - she can never understand why you don't go for the cheapest of most things (DIY equipment, hardware etc). But when it comes to clothes, that is a different matter.

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:unsure:

"Brooks woz 'ere!" :o

I know a girly who managed to set alight the barn storing hay for her horse - twice!

(we never let her forget it when we see her either pyro-p............ )

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  • 259 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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