Jump to content
House Price Crash Forum

Recommended Posts

OK so this is coming from a declared uber bear.

Is it just me, or do large countryside houses - ones in the 2 mill plus range, often with stables, extra 'lodges' (which are often very reasonance houses themselves), vast amounts of land and a genuine capacity to earn additional income from (events etc) seem like extraordinary value for money? Cheap even? They are often within commutable range from major centers too.

I know maintenance costs are a bitch, but they are with normal places too - although it won't exactly be linearly proportionate there will be some correlation.

Where I'm going with this is I literally laugh at anything costing 200k - 1 mill. They seem like they are 80% overpriced. When I look at something semi rural nearby costing 2 mill, I'm suprised they aren't 5 x the price. If everyone is supposedly so rich, just why are these things so cheap?

It's got to the point where I'm considering getting a few like minded individuals who are priced out together and going for it. These places have more than enough space, unlike a few decrepit terraces costing the same to house multiple people. Another system hack if you will.

Am I mad?

Share this post


Link to post
Share on other sites

Am I mad?

Yep.

Why not post an example of what you're talking about here? Who knows, some of us HPCers with six-figure savings might take a similar view.

Share this post


Link to post
Share on other sites

It has always been the case. That is the old-fashioned reason why you should buy as much as you can afford - you'll get 20% more house for 10% more money.

[this isn't the current vogue for spending more - the current line is that the more you spend the more you'll make on the inevitable HPI]

The reason is that no-one can buy more than they can afford, and for every £1k you earn over the average wage you reduce the amount of competition for the property (and thus demand).

Share this post


Link to post
Share on other sites

Yep.

Why not post an example of what you're talking about here? Who knows, some of us HPCers with six-figure savings might take a similar view.

(madness acknowledged).

I saw something really outstanding in the paper the other day but can't currently find it online. Sods law says none of these are as good. I think I'm having a bout of hysteria really. Just from an eyeballing though, none seems as ridiculous as any 'normal' house nearby, and all would have some potential, given the amount of land to create some 'extra temporary dwellings'....

http://www.rightmove.co.uk/property-for-sale/property-54047785.html

- includes two additional 3 bed houses.

http://www.rightmove.co.uk/property-for-sale/property-59808707.html

- a fixer upper!

http://www.rightmove.co.uk/property-for-sale/property-37932303.html

- 3 extra 'holiday cottages'

http://www.rightmove.co.uk/property-for-sale/property-52766458.html

- another fixer upper.

Edited by Frugal Git

Share this post


Link to post
Share on other sites

That second one looks like it has had a chequered history judging by the interior shots.

(madness acknowledged).

I saw something really outstanding in the paper the other day but can't currently find it online. Sods law says none of these are as good. I think I'm having a bout of hysteria really. Just from an eyeballing though, none seems as ridiculous as any 'normal' house nearby, and all would have some potential, given the amount of land to create some 'extra temporary dwellings'....

http://www.rightmove.co.uk/property-for-sale/property-54047785.html

- includes two additional 3 bed houses.

http://www.rightmove.co.uk/property-for-sale/property-59808707.html

- a fixer upper!

http://www.rightmove.co.uk/property-for-sale/property-37932303.html

- 3 extra 'holiday cottages'

http://www.rightmove.co.uk/property-for-sale/property-52766458.html

- another fixer upper.

.

Share this post


Link to post
Share on other sites

That second one looks like it has had a chequered history judging by the interior shots.

.

Yeah, as my luck would have it none of these are particularly outstanding examples of what I've seen previously. Ah well. Apologies for the pointless thread!

Share this post


Link to post
Share on other sites

That second one looks like it has had a chequered history judging by the interior shots.

.

Even that shit pit has listed status too. That's probably a factor in the price.

Share this post


Link to post
Share on other sites

Dupe. Site misbehaving

Edited by chronyx

Share this post


Link to post
Share on other sites

No you aren't mad. I've noticed it too. It's quite simple though: the fewer people that can afford something the cheaper it is in comparison. At least with property.

A 2000 sqft house doesn't cost double a 1000 sqft one.

Share this post


Link to post
Share on other sites

No you aren't mad. I've noticed it too. It's quite simple though: the fewer people that can afford something the cheaper it is in comparison. At least with property.

A 2000 sqft house doesn't cost double a 1000 sqft one.

Share this post


Link to post
Share on other sites

(madness acknowledged).

I saw something really outstanding in the paper the other day but can't currently find it online. Sods law says none of these are as good. I think I'm having a bout of hysteria really. Just from an eyeballing though, none seems as ridiculous as any 'normal' house nearby, and all would have some potential, given the amount of land to create some 'extra temporary dwellings'....

Hehe. Proper property porn there.

With places that size, there isn't really anyone who can afford to keep them as a family home. Nor a need for it: you don't have a large retinue of servants now their jobs have been taken by the mod-cons (even the Queen's retinue are almost entirely ceremonial: what's the function of a beefeater?) So buyers of houses like that have expensive plans to use the space for business purposes that'll generate revenue, or to convert them to flats. And then the question of planning looms.

The hippies had communes: a big house shared among many with (nominally) shared ideals. Cut through the rhetoric and in most cases it was all about living better than they could hope to afford individually. I don't think they had places on that scale, but the basic principle looks not unlike yours. If you have aspirations to get together with others to buy and live in a stately pile without going the whole hog of converting to flats, you might try to tap the experiences of survivors of hippie communes.

Share this post


Link to post
Share on other sites

You started out with a decent premise and ended up showing us examples of piles on the edge of nowhere. :unsure: No-one wants to commute from deepest Suffolk or Norfolk to London. The costs are prohibitive.

But your original idea of a part share in a country pile I would say is sound. C.f a 10% 'shared ownership' in Poplar or Newham FFS !

Share this post


Link to post
Share on other sites

Very large, old houses with grounds will cost a lot to maintain! I know a woman who rented a 6 bed house - she ended up getting it rent free for the last few months as the bills were so high and she wanted to move out - it came to about £700 per month in the summer so presumably much more in the winter. I don't know if that was just a bad example or if these places would cost many thousands per month.

Share this post


Link to post
Share on other sites

Nearly all of these places are Grade II / II* / I listed, so no double glazing unless you're on very good terms with the council. So yes, the heating costs are astronomical, a neighbour lives in an average-sized Victorian listed house and his heating bills apparently are £3000 a year just for Calor gas. My little fairly new house costs about £400 a year by comparison.

Edited by spunko2010

Share this post


Link to post
Share on other sites

Nearly all of these places are Grade II / II* / I listed, so no double glazing unless you're on very good terms with the council. So yes, the heating costs are astronomical, a neighbour lives in an average-sized Victorian listed house and his heating bills apparently are £3000 a year just for Calor gas. My little fairly new house costs about £400 a year by comparison.

You simply wouldn't try to heat it to 21st-century temperatures.

If the Queen tried to live at the temperatures the do-gooders now seem to expect for "the poor", she could become the richest and most famous person officially in fuel poverty.

Share this post


Link to post
Share on other sites

OK so this is coming from a declared uber bear.

Is it just me, or do large countryside houses - ones in the 2 mill plus range, often with stables, extra 'lodges' (which are often very reasonance houses themselves), vast amounts of land and a genuine capacity to earn additional income from (events etc) seem like extraordinary value for money? Cheap even? They are often within commutable range from major centers too.

I know maintenance costs are a bitch, but they are with normal places too - although it won't exactly be linearly proportionate there will be some correlation.

Where I'm going with this is I literally laugh at anything costing 200k - 1 mill. They seem like they are 80% overpriced. When I look at something semi rural nearby costing 2 mill, I'm suprised they aren't 5 x the price. If everyone is supposedly so rich, just why are these things so cheap?

It's got to the point where I'm considering getting a few like minded individuals who are priced out together and going for it. These places have more than enough space, unlike a few decrepit terraces costing the same to house multiple people. Another system hack if you will.

Am I mad?

They make great cannabis farms, people trafficking hubs and storage sites for illegal contraband.

There are so few police left in the rural areas, so this is where all the smart criminals are residing.

Only the small fry are left in the cities.

Share this post


Link to post
Share on other sites

I'm currently in a grade 2 listed house and it has double glazing. The windows had to be custom made due to the sizing and there were conditions about how they looked etc but you can change them.

Most people in these houses use wood burners to heat them. Heating a house with calor gas doesn't make sense, most houses like these in the sticks use oil fueled boilers, gas bottles are just for cooking.

With the advent of solar and ground source heat pumps, if you have the money you can insulate and get these houses up to a decent temperature all year round.

I imagine most of the subsidy money (both GSHP and solar subsidies have been pulled or aren't much anymore) is going to big houses like these.

Edited by honkydonkey

Share this post


Link to post
Share on other sites

OK so this is coming from a declared uber bear.

Is it just me, or do large countryside houses - ones in the 2 mill plus range, often with stables, extra 'lodges' (which are often very reasonance houses themselves), vast amounts of land and a genuine capacity to earn additional income from (events etc) seem like extraordinary value for money? Cheap even? They are often within commutable range from major centers too.

I know maintenance costs are a bitch, but they are with normal places too - although it won't exactly be linearly proportionate there will be some correlation.

Where I'm going with this is I literally laugh at anything costing 200k - 1 mill. They seem like they are 80% overpriced. When I look at something semi rural nearby costing 2 mill, I'm suprised they aren't 5 x the price. If everyone is supposedly so rich, just why are these things so cheap?

It's got to the point where I'm considering getting a few like minded individuals who are priced out together and going for it. These places have more than enough space, unlike a few decrepit terraces costing the same to house multiple people. Another system hack if you will.

Am I mad?

I do see a certain method to your madness. You get a lot of almost Barrat style "executive" home in a decent area of a city (not even just the south east") with a postage stamp area of land, these can cost £500k-£1 million. These are definitely a complete ripoff. But I guess they are in that price range because it's not so hard to get that amount of credit.

It is presumably considerably harder to get £2 million of credit.

I do take your point you a lot more for your money with a 2 million house than a 1 million house. But how would you really monetise that? I reckon turning one of these gaffs into a posh b and b or wedding venue would take a lot more money and effort than you think.

Edited by reddog

Share this post


Link to post
Share on other sites

I'm currently in a grade 2 listed house and it has double glazing. The windows had to be custom made due to the sizing and there were conditions about how they looked etc but you can change them.

Most people in these houses use wood burners to heat them. Heating a house with calor gas doesn't make sense, most houses like these in the sticks use oil fueled boilers, gas bottles are just for cooking.

With the advent of solar and ground source heat pumps, if you have the money you can insulate and get these houses up to a decent temperature all year round.

I imagine most of the subsidy money (both GSHP and solar subsidies have been pulled or aren't much anymore) is going to big houses like these.

I believe I read there is/was a campaign to force councils to consider custom made double glazing like yours - some of them don't allow them outright. Not sure how that's panning it, it was a few years ago I heard about it, but eventually it'll have to be granted I think.

Share this post


Link to post
Share on other sites

I do see a certain method to your madness. You get a lot of almost Barrat style "executive" home in a decent area of a city (not even just the south east") with a postage stamp area of land, these can cost £500k-£1 million. These are definitely a complete ripoff. But I guess they are in that price range because it's not so hard to get that amount of credit.

I think that's the crux of why I went all gaga.

The 2 million country house at least looks like something that should cost a lot of money, somewhere where a 'rich' person might (if that was their bag) want to live.

Round here 4/500k homes look like piles of shit. Either grotty, end terrace 2.5 bed with no parking, no front garden and also needs a completely refurb, or a Barratt box with rooms an estate agent would struggle to convince a dwarf as being 'bijou'. Sigh.

I'll step back before my mind is yet another victim of the UK's crazy pwoperdee obsession.

Share this post


Link to post
Share on other sites

It has always been the case. That is the old-fashioned reason why you should buy as much as you can afford - you'll get 20% more house for 10% more money.

[this isn't the current vogue for spending more - the current line is that the more you spend the more you'll make on the inevitable HPI]

The reason is that no-one can buy more than they can afford, and for every £1k you earn over the average wage you reduce the amount of competition for the property (and thus demand).

Your stuck in 1980s england

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

  • Recently Browsing   0 members

    No registered users viewing this page.

  • Next General Election   93 members have voted

    1. 1. When do you predict the next general election will be held?


      • 2019
      • 2020
      • 2021
      • 2022

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.