Buying an outbuilding at the bottom of my garden

choppy34

Hello

We moved into our victorian terraced house last august. Its fairly typical for this style house. At the bottom of my garden was a brick outhouse but this was pulled donwn in 2005 and its got a shed/patio area there now. Behind this is a 2 storey outhouse which is in a delapidated state but we thought this was the outhouse for the houses which back onto us. This is not the case, its a seperate brick outhouse and the has now come up for sale...


(sorry i cant post links as im a newb... but its property 33498172)

if you look at picture 3 that is my back garden... behind that mass of ivy is a huge window!!

Ive called the estate agent and its being sold by a trustee in bankrupcy and its full of rubbish which would not be cleared before sale and you can barely get in it to look around.

I want to buy it, purely to stop anyone else buying it and turnin it into flats (dont know whether that'd be possible) or anything which could disturb us. But we dont have any savings built up since buying the house. Its guide is £7.5k but i guess it could go for way more!! if we did buy it we would have to get a loan i guess. Any advise?? Thanks

poppysarah

http://www.rightmove.co.uk/property-for-sale/property-33498172.html

This one?

Looks very cute!
You'd need to know if it's got business rates payable on it - and whether the council would object to it being pulled down or restored.

budgetdiyer

Looks very nice, i'd snap that up in a heartbeat!

LittleMissGiggles123

It's lovely, I would definitely buy it!

Have you got any equity on your own home to increase your mortgage slightly?

jamie11

I think I would be checking my deeds to make sure there is a right of access and that the building does indeed stand outside my boundary, because if there is no access then it's not going to be possible for anyony, other than you or your neighbour, to buy it, have you spoken to your neighbour? Why not share the purchase?

choppy34

Hi guys thanks for your answers.

Poppy Sarah yes it is that one!

I have checked my deeds and purchased the title docs from land registry. The access point in via an entry way between 2 houses in the street behind, this is protected by a covenant.

I have only about 12k equity in my hOuse. So I don't know if I'd be able to borrOw more.

My plans would be to create access thru my garden initially for storage but in the long term for an annexx for the kids. It does seem like an amazing opportunity and a great way to increase our living space/storage.

cte1111

Can you access it from your side? If not, then I'd think twice about whether it will be useful or not to you.

silvercar

You would need to apply for change of use, you also need to check business rates.

lincroft1710

It's no good just trying to find £7,500, you'll need £500 for solicitors' fees, plus money to rebuild/repair and to remove the machinery/rubbish. However if there is a lot of scrap metal, you may find a metal recycler will pay you for the machinery.

Don't forget you'll need planning permission for change of use from light industrial plus building regulations approval for any major changes to the structure.

If there is any chance of converting/rebuilding to house, it will fetch far more than £7,500.

choppy34

Hi

No there is no access point from my property, there is a large window at ground level so maybe we could get a builder to add an rsj and door access there?

I appreciate their would be other costs as well as the purchase price. We've est £500 for solisiter, £500 for skip/ clearance, then a further £2k for immediate work like securing windows etc

A few of you have mentioned business rates, would these need paying if there wad no business? Also is it possible to include the property within our boundary instead of it being separate?

richardw

IMHO you need to get moving quick with this one to get it off the market so others don't show interest.