henry the king Posted August 3, 2023 Share Posted August 3, 2023 1 hour ago, HousePriceTooHigh said: Whatever it was, no chance it was multiple hundred £££thouands. The reddit poster is a dreamer. Its a 230-250k house in the current mark. List at 275k and take 10% off. Yeh, I'd list at £300k looking at the market and expect to accept £270k or something if I am lucky. The house is in the middle of nowhere with no land. That defeats the whole object. The only reason to buy in the middle of nowhere is to get the land. That is the critical element. Quote Link to comment Share on other sites More sharing options...
Beef Shandy Posted August 3, 2023 Share Posted August 3, 2023 "Grade II listed" "EPC E" "Built in the early 1800's" + stone external elevations Good luck attempting a high quality energy efficiency retrofit to something of that ilk: everything about it spells bureaucratic headache after hurdle after expense, limited scope to do what's necessary, and with quite possibly long-term negative consequences for the building fabric from the measures you do undertake... Conclusion: nice old gaff to look at, and to stay in on a short break, but no good as a long-term future investment as a home in the high-cost energy / electrification era that's now upon and ahead of us. Quote Link to comment Share on other sites More sharing options...
Si1 Posted August 3, 2023 Share Posted August 3, 2023 13 minutes ago, Beef Shandy said: "Grade II listed" "EPC E" "Built in the early 1800's" + stone external elevations Good luck attempting a high quality energy efficiency retrofit to something of that ilk: everything about it spells bureaucratic headache after hurdle after expense, limited scope to do what's necessary, and with quite possibly long-term negative consequences for the building fabric from the measures you do undertake... Conclusion: nice old gaff to look at, and to stay in on a short break, but no good as a long-term future investment as a home in the high-cost energy / electrification era that's now upon and ahead of us. I think I'm repeating myself in saying UK has terrible housing stock and needs a mass replacement programme for sh1tty Edwardian and Victorian housing stock Does having awful uneconomic basic housing fabric across the country, hobble the economy significantly? Quote Link to comment Share on other sites More sharing options...
jevans Posted August 3, 2023 Share Posted August 3, 2023 Exactly EPC C will be become the minimum sellable/lettable level at some point so it's going to need a ton of cash invested Quote Link to comment Share on other sites More sharing options...
jevans Posted August 3, 2023 Share Posted August 3, 2023 If they halved the price they'd find out what it's worth pretty quickly Quote Link to comment Share on other sites More sharing options...
jevans Posted August 3, 2023 Share Posted August 3, 2023 Since the potential EPC rating is E is it a dead duck? Quote Link to comment Share on other sites More sharing options...
Beef Shandy Posted August 3, 2023 Share Posted August 3, 2023 2 minutes ago, jevans said: Since the potential EPC rating is E is it a dead duck? Oops, I made an error above in my post, thinking the current EPC is an E, where as you point out that's the potential and current EPC is a G! Massive red flag to potential buyers, especially in combo with it being a listed building too: locking yourself into very high energy costs forever. Even the most hard of thinking are beginning to understand about energy costs, and very slowly more people will begin to understand about retrofit costs and the difficulties of attempting to retrofit older buildings, especially those of historic construction with solid walls and exterior elevations that cannot really be changed. Listed status is the icing on the cake. Anyone taking a multi-decade view should run a mile from stock like this IMO. Quote Link to comment Share on other sites More sharing options...
Beef Shandy Posted August 3, 2023 Share Posted August 3, 2023 The present EPC rating scheme is all a bit of a crock, but it at least provides a "signal" to buyers regarding potential current running expenses, the potential for reducing these via future improvements, and the difficulty & expense of that work, ie. the gap between current desired EPC. The signal from current: G / potential: E, should be along the lines of "think extremely carefully about owning a building like this bearing in mind the trajectory of energy costs, and of the electrification of domestic energy and move toward EVs". Can you stick Solar PV on the roof, with battery storage, and your own EV charging point? Can you insulate (& ventilate it) much better without trashing the appearance and/or fabric of the building? Can you heat it cost effectively, and comfortably, with an ASHP one day? Because that day will come. Houses where you cannot achieve those things will all eventually attract a large, permanent discount, unless they have especially highly valued characteristics, such as the location, aesthetics or perhaps an historic importance that's far above the importance of regular Grade II Listings. Anyone sensible has been considering these things for a while, and should certainly be thinking about it very seriously now along with the normal space / location / finish requirements when considering buying any home. Otherwise there's a real danger IMO of buying wasting assets, that morph into liabilities, rather than the appreciating assets that people have assumed housing always is. There's always been some danger of this, with houses in very poor locations, or that become blighted, or aren't maintained, but there's much greater scope for this now I believe. Quote Link to comment Share on other sites More sharing options...
micawber Posted August 3, 2023 Share Posted August 3, 2023 48 minutes ago, Si1 said: I think I'm repeating myself in saying UK has terrible housing stock and needs a mass replacement programme for sh1tty Edwardian and Victorian housing stock Does having awful uneconomic basic housing fabric across the country, hobble the economy significantly? I'd love to buy a well-built super efficient home but, like electric cars, they make no economic sense whatsoever. These are on for around £600K. I could buy a bigger older better located house for £450K and spend £3K a year on energy bills for 50 years. https://vertohomes.com/wp-content/uploads/Nexa-Fields-Brochure.pdf Quote Link to comment Share on other sites More sharing options...
Si1 Posted August 3, 2023 Share Posted August 3, 2023 2 minutes ago, micawber said: I'd love to buy a well-built super efficient home but, like electric cars, they make no economic sense whatsoever. These are on for around £600K. I could buy a bigger older better located house for £450K and spend £3K a year on energy bills for 50 years. https://vertohomes.com/wp-content/uploads/Nexa-Fields-Brochure.pdf It's the country's fault not yours. Quote Link to comment Share on other sites More sharing options...
petetong Posted August 3, 2023 Share Posted August 3, 2023 21 hours ago, The Angry Capitalist said: A poster not getting much interest on a property that has been on the market for 6 months. Shows you the reality of how illiquid houses are especially when the banks turn off the taps. What's surprising is the property is actually stunning. The poster provided as link to it on right-move: https://www.rightmove.co.uk/property-for-sale/Carrshield/4-bed-houses.html#prop86187009 Show's you also the madness of price differences between London and the North as this property is close to Newcastle but firmly in the countryside. That property would be priced somewhere between £2 million - £5 million if it was in the capital I reckon. £425K for that ? 🤣 Quote Link to comment Share on other sites More sharing options...
Sackboii Posted August 3, 2023 Share Posted August 3, 2023 2 hours ago, jevans said: If they halved the price they'd find out what it's worth pretty quickly Indeed. I see all manner of houses with ‘offers over’ and a price listed. It’s no longer a buyers market so sellers don’t get to dictate what it’s worth. As you say, stick it up for ‘offers over £200k’ and see what happens. It’ll sell to the highest offer in whatever timeframe. Or they can not accept that offer - it’s up to them. Quote Link to comment Share on other sites More sharing options...
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