Nice people thread part 8 - worth the wait

LydiaJ

Any news on the decision about your DS's haircut, michaels?

michaels

silvercar wrote: »

Really? Only £150k?

The house that sold recently for £1.2m was bought for 440k a few years ago. Then it was a dilapidated 3 bed detached on a good plot. Now it is 5 bed, 3 bathrooms, done to high standard, trendy bi folding doors etc and sold at 1.2m. The people lived in it for about 18 months to avoid CGT.

If it cost double your estimate, that is still a lot of profit in there.

Well obviously there is stamp duty, financing costs and CGT unless you go down the PPR route. It should cost about 1k per square metre to extend for a straightforward site plus the refurb on the existing and obviously you don't want to spend too much on the kitchen etc but I suspect on a 900k outlay you would expect to make at least 200k profit - look at my figures above and scale them up. I am hoping to buy at about 550, spend about 200+ finance and stamp duty and end up with 2 x 500 on the property I am looking at at the moment. Split that 50:50 with my bro and spend 6 months on project management and the returns are ok but not stellar.

Nikkster

lostinrates wrote: »

One of the schools we used to play at at sports often had a yellow summer dress. It was lemon ish. It was amazing how it seemed to suit every single girl from the ice pale fair ones to the very dark ones. It was so much nicer than ours which actually complemented nobody nor was it jolly.

I drive past a school with a yellow summer dress, last week I had to wait for a flock of children to cross a zebra crossing (usually pretty annoying ), but they looked like little yellow chicks

Generali

michaels wrote: »

Well obviously there is stamp duty, financing costs and CGT unless you go down the PPR route. It should cost about 1k per square metre to extend for a straightforward site plus the refurb on the existing and obviously you don't want to spend too much on the kitchen etc but I suspect on a 900k outlay you would expect to make at least 200k profit - look at my figures above and scale them up. I am hoping to buy at about 550, spend about 200+ finance and stamp duty and end up with 2 x 500 on the property I am looking at at the moment. Split that 50:50 with my bro and spend 6 months on project management and the returns are ok but not stellar.

It's the point all those Do Up Yer 'Ouse and Make a Mint shows miss. If there was that much easy money to be made, everyone would do it.

My experience of property doing up is as yours. It is quite profitable but also hard work, capital intensive and risky.

lostinrates

Nikkster wrote: »

I drive past a school with a yellow summer dress, last week I had to wait for a flock of children to cross a zebra crossing (usually pretty annoying ), but they looked like little yellow chicks

How sweet! :easter::easter::easter::easter:

michaels

LydiaJ wrote: »

Interesting. The church school that DD goes to (and DS did until he went up to secondary) takes any flavour of Christian as long as they're regular attenders. One of DD's friends got in on the basis of belong to a Quaker meeting house, for example.

Did your DW and DKs move to the school church because the DKs are at the school? It never occurred to me to do that, and it's never been suggested. The school church uses the school to send out invites to special services at harvest, Christmas and Easter, but these are aimed at those who don't usually go at all, rather than those who go elsewhere. There are plenty of parents who aren't church goers - the admissions criteria are (1) siblings, (2) regular church goers of any denomination and then (3) others in order of proximity, and there are places for (3) in all but the most extremely high birth rate years.

I think our only local c of e school is like that but you have to live extremely near to get in however it is the no 1 catholic school that would not take them even though it was 50 yards from where we then lived so they went to the overflow catholic school 1.5 miles away.

DW did go to local c of e church but none of the st albans churches are her first choice which would be an inner city church of god big gospel type church so changing from anglican to rc made little odds for her and strangely now the school which turned down would have taken ds as a catholic even though we now live much further away.

lostinrates

michaels wrote: »

Well obviously there is stamp duty, financing costs and CGT unless you go down the PPR route. It should cost about 1k per square metre to extend for a straightforward site plus the refurb on the existing and obviously you don't want to spend too much on the kitchen etc but I suspect on a 900k outlay you would expect to make at least 200k profit - look at my figures above and scale them up. I am hoping to buy at about 550, spend about 200+ finance and stamp duty and end up with 2 x 500 on the property I am looking at at the moment. Split that 50:50 with my bro and spend 6 months on project management and the returns are ok but not stellar.

I think if you were paying over a million for a house in an area where that is a big value (I.e. not a flat in a central zone) some more investment is needed in quality than in less sizable or grand houses.

Obviously, building new or extending with out the historical restrictions we have is going to considerably cheaper, but things like fittings which one might skimp and plan to replace in ones own home or put in a nice looking but light feeling model in a lower but still big ticket home.....

But I dunno. I do know that two things stick in my mind.

One was an estate agent in London telling me that the fixer uppers cost more in the long run that the bought done (he showed me real examples and coatings) and the other was my architect telling me our house was never worth proportionately more than once our planning had come through but before we started work.

GDB2222

michaels wrote: »

The 3 bed semi they did on our road which cost 355 and then about 70 to extend sold for 560, also 'our' builders. I am fairly convinced people will pay 100k more for a house done 'to move into' than for a house which would cost 50k to get to the same state.

I don't think that was always the case, but it seems to be currently. They can add the £100k to their mortgage, but they don't have the £50k because it's all gone into the deposit.

Bear in mind that the £50k difference does not represent profit. The developer has to pay to organise finance, pay for the finance, pay stamp duty on his purchase, pay estate agent fees on the sale, and pay legal costs.

neverdespairgirl

I felt very guilty today, but also quite proud.

I took Isaac to the dentist after school, as it was time for a check-up. I don't know why, but all dentists seem to be massively patronising to children, is that general experience?

Isaac's still got all his milk teeth, not lost a single one, which is late, as he's coming up to 8 (in a couple of months). Then the dentist said, "well, young man, I bet you don't know how many teeth you have!"

Isaac looked at him witheringly, and said, "children have 20. But I have 24" (I have absolutely no idea how he knew that, which turned out to be right, and I certainly didn't know it).

The pride - putting dentist in his place. The guilt - he's not lost any milk teeth, but has grown 4 new back adult teeth, two sets, without me knowing. He hasn't ever mentioned it, or gum ache, or anything!

Bad Mummy (-:

michaels

LydiaJ wrote: »

Any news on the decision about your DS's haircut, michaels?

DW has started talking about shorter styles that might suit him so I think my constant referring to him as a girl and shop assistants often doing the same is starting to gain some traction.