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mel in w9

Fixer Upper In Edinburgh

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My husband and I are thinking of offering 285,000 GBP for this place. Just wondering what the experts here think of our chances?

I would say this place needs at least 100,000 GBP to modernise. It has been on the market awhile.

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Cheeky beggars wanting £350k+... especially with work to be done!

Hell even your bid sounds steep.. but do let us know how you get on if you go ahead with it! :)

EDIT - I think your bid may get knocked back, but seeing as it's been on a while and they're completely delusional, worth a shot. You know what your budget is, and £285k is a lot of money. I certainly wouldn't offer over £300k anyway...... It's way out of my price league (what are your reasons for living so close to town when you could get a detached house for that outside of town?) but I'd be tempted to leave it a while. Again, I don't know your circumstances - personally I'm waiting at least another two years.

Edited by guitarman001

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My husband and I are thinking of offering 285,000 GBP for this place. Just wondering what the experts here think of our chances?

I would say this place needs at least 100,000 GBP to modernise. It has been on the market awhile.

They can only say no, I suppose. But £100k to modernise a flat? Unless you're planning on turning into one big open Richard Rodgers loft space, or there's some profound structural problems, that sounds a bit high for renovation work. 30-40 tops for a 'luxury' finish, maybe.

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My own guess is that £285k will be knocked back. It is a premium area and as has been said above, you would not need £100k to modernise. 50K max and even then only if the roof needs a lot of work and you like high end finish.

That said, it does not have a garden and so is not the ideal family home in the Grange that is in such demand even in the current climate.

Done up, peak price (2007/8) this would be around £500k.

In the current climate, in the current condition, my guess is that someone will pay around £340k for it.

PS. I see this 2 bed in Marchmont is under offer:

http://www.espc.com/buying/292817.html

I would be gob-smacked if it was anywhere near the OA price of £300k. One to keep an eye on Muswell Hillbilly?

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I'd guess that was a probate sale - unmodernised, no OO. Don't executors have a duty to get the best price? What are the rules about that? Might be worth finding out.

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We decided against bidding on this house. I didn't fancy all the work it would entail. Sarah Beeny, I am not.

Besides the brochure shows the best bits, you should see the rest of it. 100,000 was not an outrageous amount to have put into it.

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  • 312 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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