Jump to content
House Price Crash Forum
Guest

Listed properties just money pits?

Recommended Posts

Pros and cons for sure. Friends live in a great old cottage in the Lake District- walls about 4 feet thick- not sure it was listed, but they put on a really big and modern extension and it worked out very well. 

This place looks full of character- the thatch and its upkeep is a bit of an unknown- maybe it's like there's thatch, and then there's Thatch.

Share this post


Link to post
Share on other sites
39 minutes ago, Grab_Some_Popcorn said:

Are such places ever a good idea?

Only if you fully understand the responsibilities and commitments that you are taking on and you are happy to do so. Otherwise, no.

Listed properties aren't necessarily money pits (although they can be), but they do impose restrictions on what you can do with them. This can lead to frustration (even anger) with the authorities, making you wonder just who actually owns the property!

Share this post


Link to post
Share on other sites
Guest
17 minutes ago, spyguy said:

Yes, normally.

Id never by a thatched cottage. Ever.

 

Really? How come? Costs of maintenance, plus extra insurance?

Share this post


Link to post
Share on other sites

friend is buying grade 2 listed 16th century place...I will let you know how it goes.  Purchase is being delayed because they found damp and he is demanding vendor fixes this (no cavity walls in 16th c).  He wants to make all sorts of changes and seems to think this won't be an issue.  His wife is Chinese and the motivation I think is the cutesy old England prettiness of the house...Chinese love all that.  little hard realism in play.

Share this post


Link to post
Share on other sites
20 minutes ago, Grab_Some_Popcorn said:

Really? How come? Costs of maintenance, plus extra insurance?

If you do a search you should find a few interesting and informative threads about listed buildings.  In a nutshell: avoid unless you have far more time and money than you know what to do with.

Share this post


Link to post
Share on other sites
1 hour ago, Grab_Some_Popcorn said:

Are such places ever a good idea?

There are different types of listing. Some require permission for the interior decor as well..

I would not, generally buy one without masses of research and testing, and discount.

https://www.historicengland.org.uk/listing/what-is-designation/listed-buildings/

Categories of listed buildings

 

  • Grade I buildings are of exceptional interest, only 2.5% of listed buildings are Grade I
  • Grade II* buildings are particularly important buildings of more than special interest; 5.8% of listed buildings are Grade II*
  • Grade II buildings are of special interest; 91.7% of all listed buildings are in this class and it is the most likely grade of listing for a home owner.

Share this post


Link to post
Share on other sites
2 hours ago, Grab_Some_Popcorn said:

Really? How come? Costs of maintenance, plus extra insurance?

Thatch needs replacing ever 15 or so years.

Unless it catches fire and burns down.

And they are full of bugs and stuff.

Share this post


Link to post
Share on other sites
8 minutes ago, spyguy said:

Thatch needs replacing ever 15 or so years.

Unless it catches fire and burns down.

And they are full of bugs and stuff.

Your spot on mate had a cottage with a thatched roof - pain in the backside apparently and re thatching is a £20k plus job

Share this post


Link to post
Share on other sites
7 minutes ago, spyguy said:

Thatch needs replacing ever 15 or so years.

Unless it catches fire and burns down.

And they are full of bugs and stuff.

It depends on the type of thatch - some can last up to 30 years. But of course, the owner isn't allowed to choose the thatch. Any yes, it'll be full of bugs, and mice and birds pulling it to bits, and mould - especially on the north facing side. etc. etc.

About half of the cottages in my lane are listed. When I talk with the owners about problems/issues with their properties they either roll their eyes (the rich ones) or openly rant about the local authority and the unreasonable restrictions they impose on them.

Personally, I would never buy a listed property unless I had really deep pockets and considered property maintenance / restoration a hobby.

Share this post


Link to post
Share on other sites
3 hours ago, Grab_Some_Popcorn said:

I like the look of this place ... once they knock another £100k off. But it is listed, has a thatched roof ... 

http://www.rightmove.co.uk/property-for-sale/property-47880303.html

Are such places ever a good idea?

There's no end of G2 listed places up for sale circa £1M...there's probably a reason for that.

They were all probably bought for 2x av salary....now someone's trying to sell them for 20x only to find no one wants, or can afford a vanity project

Share this post


Link to post
Share on other sites
9 hours ago, Grab_Some_Popcorn said:

I like the look of this place ... once they knock another £100k off. But it is listed, has a thatched roof ... 

http://www.rightmove.co.uk/property-for-sale/property-47880303.html

Are such places ever a good idea?

385000 for a little shoebox. Oh dear. All hope is lost.

Phone a thatcher up and ask for a ballpark figure for a rethatch of a 3 bed cottage. Then phone up an insurnace company for for a quote. Sit down first.

Share this post


Link to post
Share on other sites

It's like for like on almost all upkeep jobs, but this is OK as long as you can live with the cold. That was the chief challenge for me - there doesn't seem to be much insulation and you can't put it in. You can secondary glaze but it's clunky, and the real issue is the single skin walls and the foundations - our place was sitting on clay, I kid you not, and your hair would freeze to the pillow on a chilly night. Wood burners, a wine store, a selection of jumpers and big oil burner stoves are a good idea. It helps if you're handy or know a decent joiner - and there's no VAT on materials for listed properties. You have to take special insurance but it's only 10-20% over normal, in my experience, and you can get discounts if you join the listed prop owners club. The local officer will allow extensions, in keeping. You will be fixing things, all the time, whether you plan to make big changes or not.

I enjoyed it. But our place was clay tiled. I would never consider living under thatch.

Share this post


Link to post
Share on other sites
23 hours ago, spyguy said:

Thatch needs replacing ever 15 or so years.

Unless it catches fire and burns down.

And they are full of bugs and stuff.

A colleague has a thatched roof and he says every 30 years but it is £60k - before Blair you could buy a house for that in London.

Share this post


Link to post
Share on other sites
7 minutes ago, iamnumerate said:

A colleague has a thatched roof and he says every 30 years but it is £60k - before Blair you could buy a house for that in London.

Depends on the material, and listing will affect which you can use. Reed lasts a lot longer than straw. Anyway it's not the handy cheap roofing that it was a couple of hundred years ago.

Share this post


Link to post
Share on other sites
1 hour ago, Riedquat said:

Depends on the material, and listing will affect which you can use. Reed lasts a lot longer than straw. Anyway it's not the handy cheap roofing that it was a couple of hundred years ago.

Thanks for that, as I said I have no personal knowledge and unless I become very rich will never do so.

Share this post


Link to post
Share on other sites
24 minutes ago, iamnumerate said:

Thanks for that, as I said I have no personal knowledge and unless I become very rich will never do so.

Neither do I admittedly, I got curious and Googled it when I saw this thread.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 292 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%



×
×
  • Create New...

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.