House I looked to buy needs moderenisation

spark_deals

I am first time buyer and This is the house I am looking to buy.

I have ~17000 in cash and would be ~3k more in 2 months.
Mortgage agreed in principle and is comfortable.
Being first time buyer, I am trying to stick to lower range of 3 bed properties.
This property has double glazed.
Ist house on street with blind end/ whatever its called.
I am planning kerb drop and convert further garden into drive.
Deceassed property being sold by hier to estate/
Questions:

1. How much would it cost to modrenise?

2. How much Northern gas charges for gas connection as the house has none.

3. I am not looking making a fast buck but I need to see if I can manage the kind of money I need to throw at it and If I could recoup it at the time of moving out?

4. Most important, what would be the non- offensive first offer?

Thanks for replies.:beer:

Spark

monty-doggy

How much is a piece of string? You can spend as little or as much as you like. The first thing is survey, that will indicate anything major. Then you need to factor new kitchen and bathroom. The rest looks like painting and general decorating but as I said you could do it at either end of the scale.

As for an offer, they have stated its priced as its needs modernising. I'd start at 125 given you are chain free and ready to go and see what they say. It's the stamp duty threshold so they may expect it.

spark_deals

monty-doggy wrote: »

How much is a piece of string?

I'd start at 125 given you are chain free and ready to go and see what they say. It's the stamp duty threshold so they may expect it. .

But I haven't seen the string, so I don't know how long would it be.

Yes, starting at 1 quid below stamp duty would be good idea..

I can redecorate reasonable and knock wall b/w kitchen and dining room, bath, new laminate and little off cut of carpet for stairs would do a starter.

Thanks for quick reply.

My worry is the very first question I asked.
Thank you once again.

monty-doggy

The how much would it cost to modernise? I'd say if it needs nothing structural, without knocking walls or built in cupboards out, you could do a reasonable job for 5-10k. Including kitchen and bathroom.

I wouldn't knock it through if you don't plan on staying long term, some people prefer two reception rooms and there is scope to extend the kitchen.

Excited13

spark_deals wrote: »

1. How much would it cost to modrenise?

Can you do any of the work yourself? Do you have any friends in the trade? If yes you'll be able to do it cheaper. You say modernise but do you want to make a kitchen/diner etc or just the basics?

2. How much Northern gas charges for gas connection as the house has none.

Why doesn't the house have a gas connection? Is it because there is no gas in the area (I wouldn't expect that in Leeds unless it was a flat).

3. I am not looking making a fast buck but I need to see if I can manage the kind of money I need to throw at it and If I could recoup it at the time of moving out?

Depends on the standard and how long you intend to live there along with how the local market is going.

4. Most important, what would be the non- offensive first offer?

It's only just gone on the market so it depends on a number of factors. How much interest there is, how quickly the estate want to sell and what the local market is like. I would think it will generate quite a lot of interest considering the price.

How much do you want it and what is your top offer?
Thanks for replies.:beer:

Spark

Good luck with your house buying!

spark_deals

Originally Posted by spark_deals

1. How much would it cost to modrenise?

Can you do any of the work yourself? Do you have any friends in the trade? If yes you'll be able to do it cheaper. You say modernise but do you want to make a kitchen/diner etc or just the basics?

I can do basic redecorating, lay laminate. Have access to few tradesmen through friend
2. How much Northern gas charges for gas connection as the house has none.

Why doesn't the house have a gas connection? Is it because there is no gas in the area (I wouldn't expect that in Leeds unless it was a flat).

People used coal and electric fire/ heating. And I didn't see gas meter/ boiler. So I am assumming. but would ask EA mane

3. I am not looking making a fast buck but I need to see if I can manage the kind of money I need to throw at it and If I could recoup it at the time of moving out?

Depends on the standard and how long you intend to live there along with how the local market is going.
3-5 years minimum.
4. Most important, what would be the non- offensive first offer?

It's only just gone on the market so it depends on a number of factors. How much interest there is, how quickly the estate want to sell and what the local market is like. I would think it will generate quite a lot of interest considering the price.

How much do you want it and what is your top offer?

Family/ even kids liked it, walkable from school.
I can match the asking price. But if I donot wish lunge at EA with asking price.
Thanks for replies.:beer:

Spark

spark_deals

monty-doggy wrote: »

a reasonable job for 5-10k. Including kitchen
........ scope to extend the kitchen.

You mean extend the house posteriorly? or how to extend the kitchen otherwise.

spark_deals

EA advised price of 175-185k after modrenisation.

monty-doggy

I honestly think going in at stamp duty in a position to move quick will be considered. When my OH nan died, her house was a huge 3 bed 3 recep 2 bath on a road where houses sell for up to 260k, her house was sold to the first offer at 120. It was avertised at 140 which was cheap! It did need a lot of work doing but the person executing the estate wanted a quick sale.

monty-doggy

Kitchen could extend into pantry or if staying long term like this

I have a small kitchen extension like that.

monty-doggy

Can't post pic. Scroll down to small extension!

3rd project.



http://www.queensparkbuilders.com/extensions_glasgow_builders.htm