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I'm looking at this place thinking it ticks all the boxes, apart from the price!

http://www.rightmove.co.uk/property-for-sale/property-65183708.html

If I can work out how much it would cost to rennovate, that'll tell me how much to put in as a cheeky offer. So far I reckon (worst case scenario):

re-wire £3k

heating £3k

windows £4k

Kitchen £5k

Bathroom £1k

Carpets £2.5k

Knock lounge into dining room £2k (including plastering)

Guttering £2k

That comes to around £25k... have I missed anything obvious? (Subject to a survey etc)

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8 minutes ago, Kiwi_Muncher said:

I'm looking at this place thinking it ticks all the boxes, apart from the price!

If I can work out how much it would cost to rennovate, that'll tell me how much to put in as a cheeky offer. So far I reckon (worst case scenario):

 

You're not one of those people we see on the TV Property Ladder programmes are you? :)

Seriously, I don't think that you have got anywhere near worse case scenario:

What about Roof (including access scaffold), External walls re-render, Internal plaster re-skim, Any damp issues?

Please look around before you put in an offer and don't be too optimistic, unless you fancy a gamble.

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Just now, frankief said:

You're not one of those people we see on the TV Property Ladder programmes are you? :)

Seriously, I don't think that you have got anywhere near worse case scenario:

What about Roof (including access scaffold), External walls re-render, Internal plaster re-skim, Any damp issues?

Please look around before you put in an offer and don't be too optimistic, unless you fancy a gamble.

My main aim was to work out how overpriced it is :)  And yes I have no doubt a survey would throw up some nasties. They'd need to knock at least a £100k off before I went near it.

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My mate who is a builder did a total refurb 2 months ago for a similar looking house came in at just under 50k and that was with nothing fancy.

 

Just to add I reckon you are right, 230-250 maybe but no way 320, the one below went for 300k and even though it needs stuff doing its a better house and in a better state imo.

 

http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=51082537&sale=29125407&country=england

Edited by fandanman

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If they stick it on at 320, they are looking for over 300, prrolly 310 Gets it. Its worth that if some mug pays it. Which they will! With IRs at 0.25%.

Edited by GreenDevil

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2 minutes ago, GreenDevil said:

If they stick it on at 320, they are looking for over 300, prrolly 310 Gets it. Its worth that if some mug pays it. Which they will! With IRs at 0.25%.

Hmmm .... fine if someone wants to spend that much plus more on rennovation. Muggs!

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I LOVE that bathroom suite! Seriously, i have a weakness for coloured bathroom fittings. ^_^

Looks like a good refurb project though. So long as the price is right of course.

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Now I've done my research on this, and even watched that do-er upper TV programme last night so it is quite simple.

Firstly, stamp duty and legal fees don't exist so you can ignore that.

Second, I assume you have family that will work all day and night for a pizza once a week - again zero cost.

Windows - lick of paint should sort that  - no need to over engineer a simple solution.

It helps if your dad is a builder-  but if not you really need to get some Eastern Europeans in - they could even live on site so you can get them for about £20 / day.

It seems quite hard to get a do-er upper today so don't muck about. I would offer £5k over asking (or if at auction make sure you are the last man standing - the rest are just penny pinching)

If you really want to push the boat out, go for some really wacky wall murals and furnishings - cheap as chips but you can then sell it as 'designer'

All in, since you will have no finance costs or selling costs, and your labour is free and tax doesn't exist, you should be able to clear an easy £100k. You'll be mortgage free in six months :D 

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1 minute ago, CunningPlan said:

Now I've done my research on this, and even watched that do-er upper TV programme last night so it is quite simple.

Firstly, stamp duty and legal fees don't exist so you can ignore that.

Second, I assume you have family that will work all day and night for a pizza once a week - again zero cost.

Windows - lick of paint should sort that  - no need to over engineer a simple solution.

It helps if your dad is a builder-  but if not you really need to get some Eastern Europeans in - they could even live on site so you can get them for about £20 / day.

It seems quite hard to get a do-er upper today so don't muck about. I would offer £5k over asking (or if at auction make sure you are the last man standing - the rest are just penny pinching)

If you really want to push the boat out, go for some really wacky wall murals and furnishings - cheap as chips but you can then sell it as 'designer'

All in, since you will have no finance costs or selling costs, and your labour is free and tax doesn't exist, you should be able to clear an easy £100k. You'll be mortgage free in six months :D 

Wow, I am so glad I came on to the forum! There was me about to offer £100k UNDER asking ..... sheesh, I really dodged a bullet there!

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17 minutes ago, Kiwi_Muncher said:

Hmmm .... fine if someone wants to spend that much plus more on rennovation. Muggs!

You need to be on a TV program to get it for 230, everyone else has to pay 310.

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I'm another to say you're being hopelessly optimistic in your assessment if you are intending to fix everything to a modern decent standard. Most people just put up with the 'quirks'.

lots of things you didn't mention like the flat roof on the bay window and it looks like that extension pre dates the local planning records (back to 1990) so that could be a crock of shit. When that back wall was taken out, is it structurally sound enough to knock through the remaining wall? Invasive investigation needed there. Also pre-dates a lot of insulation related regs you would need to follow nowadays. 

 

I think the house is number 7 in which case I've looked at the EPC - which dates from 2008! You can only assume they've only been trying to sell for 9 years!!!!!!!!!!!!!!!!!!!! Clowns. https://www.epcregister.com/reportSearchAddressListReports.html?id=d56f3f0c1164f373d70ede09591c7136

The other thing which I guessed from the pictures is that its a small house, only 88m2 WITH the extension. I'd also be suspicious of the that roof velux. What multitude of sins is that hiding? Bodged attic conversion? Even if its "storage" only, I'd wonder about the amount of insulation etc. EPC says 100mm, you'd want more. 

 

The other thing not mentioned so far is that you're talking about a lot of work. Could easily take a couple of months to get things sorted, co-ordinating various trades - you can't just phone up someone to start tomorrow for a big job like a re-wire or new heating system. - not the good ones anyway. Another couple of months in the rental paying rent and a mortgage. Significant extra costs. 

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14 hours ago, Kiwi_Muncher said:

I'm looking at this place thinking it ticks all the boxes, apart from the price!

http://www.rightmove.co.uk/property-for-sale/property-65183708.html

If I can work out how much it would cost to rennovate, that'll tell me how much to put in as a cheeky offer. So far I reckon (worst case scenario):

re-wire £3k

heating £3k

windows £4k

Kitchen £5k

Bathroom £1k

Carpets £2.5k

Knock lounge into dining room £2k (including plastering)

Guttering £2k

That comes to around £25k... have I missed anything obvious? (Subject to a survey etc)

Who are you getting to rewire a place like that for 3k and can I have their number? Also you haven't priced in the cost of sorting the mess out once you've had it rewired. Plastering, ceiling etc. Bathroom and kitchen prices seem optimistic too. 

****** it I'll do the lot for 40k. Cash though mind, otherwise I'll have to add VAT. 

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Those are definitely some HUTH renovation figures you've come up with their o.p.

 

Full rewire for a house that size would be £5k+ for starters.

 

Might just about get the cheapest of cheap windows for £4k, but not replacement doors as well.

 

And a new bathroom, fitted and re-tiled for £1k... no chance!

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Recently had 3 quotes to re wire a large 2 bed flat and came in between £3k-£5k not including plastering. 

Refurb (not replace) of 5 sash windows came in at an eye watering £7k! Wont be doing that.

£5k for a kitchen sounds budget, have you missed appliances? plumbing?

£1k for a bathroom sounds cheap as well, might want to allocate £2k for that. 

Guttering sounds about right. New roof or any problems with roof and will not come cheap, would avoid any really cheap companies here. 

For me, the problem I currently have is finding a really good professional damp proof /treatment company to quote to treat areas of damp in a Victorian property before the rewire takes place.

Some of the reviews of local damp proof firms are shocking and do not full me with confidence any of them know what they are doing, any tips appreciated!, maybe general builders will be able to help here?

 

 

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Just from the first pic I see bay windows, and the lower one needs to be load bearing to hold the weight of the upper bay, plus small flat roof, porch, fence, drive and that garage may well be at the end of its life.

Plus chimney needs a close look and likely will need a new full height stainless flue if you intend on a working fireplace.

The place will be a money pit and/or will take 3 years of your life to make 'your forever home' depending on your diy skills.

All that said, decent house in decent location with good size rooms and good garden. I'd buy it, but would expect to w4nk £60k on it at least, more if going the builder route.

You'll probably get the response "It's priced accordingly" when you make an offer mind.

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