Rough renovation cost

icewarrior_2

Hi folks

My wife and i are going to be in a position to purchase a house in the coming weeks, and we are currently looking at what our budget will buy us in glasgow (total budget around £115k).

Last night whilst looking online we seen a property at a price that seemed far too good to be true. Having had the chance to look at the home report, it is apparent that there is a LOT of work needing done to it.

I was hoping that some kind soul could have a look at the defects listed in the home report and if possible give your rough estimation of the cost of repairs, a breakdown of cost would be asking too much though. I appreciate that an exact figure would not be possible as there is no way to tell just exactly what else is needed, but if the initial guestimation is horrendously high then i at least know to walk away sooner and keep looking elsewhere.

The property is on the market at offers over 65k, and i'm only guessing at a rough cost of £35-40k to renovate but this is purely a number i have plucked out of my head.

The home report can be found at www dot packdetails dot com (sorry, due to my low post count i cannot yet post a link, had to put dot in)The property reference is HP320252 and the postcode is G42 9BU.

Any estimate, no matter how rough would be greatly appreciated.
many thanks in advance

gazman100

Aware the process is different in Scotland, but have you had (or considered) having a survey done?

icewarrior_2

Hi Gazman,
The home report consists of 3 things, an Energy Report, a Single Survey and a Property Questionnaire. Its the findings which are in the single survey which have made me think twice about looking any further at this property

freddykrueger

I can't advise on renovation costs but it sounds literally like it is falling down with structural concerns and riddled with damp. I also note from the report that it looks unlikely you would get a mortgage on the property.

My advice would be do nothing until you get a structural survey on it - could be the best money you ever spend.

scottishblondie

I'd run away, fast. That place looks like a total money pit. It needs totally gutted and everything replacing, but even the structure of the building isn't sound. Plus I don't think that the money you would have to spend on it would be represented in the value of the property once it has been finished.

icewarrior_2

The mortgage wasn't a concern as i'd be buying cash. But i am concerned about the place falling down. I've just noticed that the home report is dated end of April but the property only went on the market in the last couple of days, and also that the value of the property as per the HR is £65k, but the sale price is offers over £65k. I might give the sellers a call on monday as the structure of the building is down on the essential repairs, and i'm wondering if they have went ahead and had these repairs done already. That would explain the delay between the home report and the property going on the market, and also the inflated price.

If they have been done, it might also allow me to get a better idea of costs for the rest of the work, and if they haven't been done i will be running as fast as my legs will take me away from it.

freddykrueger

I can almost guarantee that there has been no structural work carried out on that property since April it's not really that long ago and no requirement for a report refresh yet.

The sellers are lawyers so do you think they would have bothered to carry out structural repairs....

icewarrior_2

You are most likely correct and i dont think any work will have been carried out. But i'm a firm believer in hope for the best and plan for the worst. So i'm hoping that some work has been carried out but i have already looked out my running shoes when it turns out no work has been done

freddykrueger

Ok well good luck and keep us posted if structural work required your budget may not even cover that!

cyclonebri1

The answer is in your question header/title;

"rough renovation cost", you don't want rough.;);)

Leif

Slap on a bit of filler and it'll be a palace.

I would run a mile, due to the damp and the structural movement alone.