Advice needed on flat with 'potential'

sheddy7

Hi,

My girlfriend and I are first time buyers and we've found a flat we are pretty keen on. The main reasons we like are it's in a great location, has spacious rooms, double glazing, new carpets and comes with a garage close by.

However, it also needs a fair bit of work doing to it in other areas. What is causing us a major headache is that as the previous owner passed away and it is now being sold by the bank there's noone around to ask about the general condition, problems, works undertaken etc. In the questionnaire in the Home Information Pack pretty much every question is answered 'don't know' and the Estate Agent involved seems to know even less. Very useful! :mad:

We've already identified that we will have to:

1/ Redo the kitchen as it currently doesn't have an oven or a even a space for one.

2/ Add more plug sockets - The main bedroom for example only has one single socket. I'm expecting the flat may need a complete re-wire in fact as it looks like the wall sockets are still the original ones that came with the property, they don't even have switches.

3/ Replace the boiler as it's 23 years old and positioned rather badly in the second bedroom.

We want to redo the bathroom at some point too but that can wait.

The thing is this is going to stretch our available cash about as far as it can go so we don't want to move in and then discover loads more problems that need sorting. I'm considering getting a Home Buyers Survey done but then I've read that they don't really go that in-depth so I'm worried I'll be paying for someone to tell us what we already know. Perhaps it might enable us to get the price down a bit but that's not going to give us any more immediate cash to sort these problems out.

Any advice would be very welcome, thanks.

poppysarah

I think if you redo heating, wiring, kitchen and bathroom, there's only roof, decoration and flooring left.

eileenfromplaistow

What about asking one of the neighbours? I assume the flat is leasehold, so I would also ask about previous work done to the building, and more importantly if anything major is coming up.

sheddy7

Thanks, good points both. It is a maisonette and the lease is currently in the process of being extended by the bank. I have the name of the freeholder from the HIP actually. Would be worth trying to track down their number and giving them a call about previous and planned building works?

I guess I'm just worried that something I haven't considered will suddenly appear and bite us on the bum.

Thrugelmir

Cost the works to be done and take this into account when making an offer.

Ask an electrician to visit the property with you. To assess the potential cost.

But to spend a few pounds now than find out later when its too late.

Don't be rushed into making a decision to buy. If it requires work then other purchasers will face the same issues.