Beware 'done up' houses?

plumfin

We bought in February, a normal 2 bed semi. The house was done up really well and we have not had to (nor have we chosen to) do anything except boiler service, cleaning etc. No doubt we will have to in the future but knowing how awful we are at DIY, this was a real selling point for us.

We looked at a house for about the same amount of money that needed a huge amount of work doing to it, but the end result would have been fantastic. However, being realistic, not an option for us at this time. I love my little house and thank goodness for the previous owner's good taste!

lessonlearned

plumfin wrote: »

We bought in February, a normal 2 bed semi. The house was done up really well and we have not had to (nor have we chosen to) do anything except boiler service, cleaning etc. No doubt we will have to in the future but knowing how awful we are at DIY, this was a real selling point for us.

We looked at a house for about the same amount of money that needed a huge amount of work doing to it, but the end result would have been fantastic. However, being realistic, not an option for us at this time. I love my little house and thank goodness for the previous owner's good taste!

^^^

There will always be people who want a house that has been "done up" although perhaps a rather more technical term should be "refurbished".

A lot of people hate the thought of any form of DIY or they are too busy or they have no cash available for a refurbishment.

I am currently refurbishing a property to sell on. So far a complete rewire, replastering to kitchen, bathroom, two bedrooms, landing hall and staircase, new kitchen with all fitted appliances, solid wood worktops, new bathroom, new windows where required, new joinery, upgrading insulation, adding soundproofing (mid terraced house) and so on.

Plus of course making good the previous owners bodged DIY attempts.:rotfl: Sourcing and putting back period features.

The desolate back yard will be turned into a lush urban oasis.

I will have invested my capital, my time, my specialist knowledge and design skills, my team of professional trades people and the sweat of my brow.

My purchaser will be getting a fabulous energy efficient property in turnkey condition, with all the necessary guarantees, building regs etc

I will have earned every penny of my profit.

BTW - I keep before, during and after pictures so my purchasers will get a record of exactly what work has been done.

lessonlearned

cloo wrote: »

I find a lot of beautifully done up houses are just charging a premium for a nice finish when we'd rather pay less for somewhere we can do up.

That "nice finish" comes at a cost. :rotfl:

Doing up your average Victorian terraced proper can easily run into £10k to £20K. Add on fees, taxes and finance costs and that £40k "profit" may not be all that it's cracked up to be.

A lot of the profit will be gobbled up by unseen costs such as remedial works which don't necessarily require certificates or guarantees and which therefore become "hidden costs". They are invisible to the average purchaser who has no idea of what is involved.

Doozer girl's example of replastering is a very good one. As she points out the average unmodernised or neglected Victorian terraced property that is being done up will generally need replastering because after a hundred years or so the plaster will have blown.

That wood chip and those polystyrene ceiling tiles are there for a reason - they will be covering up a multitude of sins. As soon as you strip them off the full horror will be revealed. Same with our old friend - the dreaded artex - which may or may not contain asbestos and which will require very careful and very expensive removal.

You do not need building regs or certificates for new plasterwork and yet it will be a significant expense that just has to be borne.

My plasterers bill will be around £4k for a kitchen, bathroom, two bedrooms, hall and staircase. Thankfully the other bedroom, lounge and dinning room have been done in recent years so saved a bit there.

Looking at pictures on Rightmove nor even a brief cursory viewing will reveal the full extent of any remedial works that have been undertaken. Unfortunately the average EA's blurb doesn't tell you much either.

As Doozer girl also points out there are likely to be some tell-tale signs that new plaster work has been done such as new skirting boards or joinery but very often people don't spot these.

Same with a lot of remedial works and improvements. It isn't always obvious just exactly what has and what has not been done. You usually need to do a proper inspection and discuss the scheme of works with the vendor.

The average EA won't have a clue as to what works have been carried out, so I would always advocate quizzing the vendor to ascertain what works have been done.

This is why I keep detailed records, take photos and supply copies of invoices etc for works that don't require guarantees. My purchasers are reassured that everything has been done properly and that no corners have been cut.

They can see what has been done and I can justify my asking price:D

Pixie5740

I'm sure some properties are done up to a high standard and to make any kind of profit from doing this kind of property development you'd really need to know what you're doing. Except maybe in London where you could buy a property, do nothing, and still sell it on at a profit.

I've seen a lot of "done up" properties that are just magnolia walls, cheap thin laminate flooring and maybe a really cheap bathroom with minimal tiling when the vendors think warrants a premium price tag. Sarah Beany has a lot to answer for.

Doozergirl

Pixie5740 wrote: »

I'm sure some properties are done up to a high standard and to make any kind of profit from doing this kind of property development you'd really need to know what you're doing. Except maybe in London where you could buy a property, do nothing, and still sell it on at a profit.

I've seen a lot of "done up" properties that are just magnolia walls, cheap thin laminate flooring and maybe a really cheap bathroom with minimal tiling when the vendors think warrants a premium price tag. Sarah Beany has a lot to answer for.

I think Sarah Beeny has standards. She can't be held responsible for people who have no idea what they're doing.

Some people know and don't bother with full work but a lot of people are genuinely clueless.

I was thinking this morning that the best person to take on a viewing is a builder, even thought the house might look like nothing needs doing.

We sold a house where we had rescued it from total dereliction. The people that went on to buy took a builder to our house and another round the corner first. The builder came in with a note book to make notes of what needed doing.

We asked him towards the end what he thought. He showed us a blank piece of paper that was his list of work for our house. A builder will happily compare someone elses standard of work to their own. The other house had two pages and he estimated £80k to get the other house to the same standard.

Doozergirl

lessonlearned, I'd say you're renovating "restore (something old, especially a building) to a good state of repair."

Refurbishing is more superficial "to brighten or freshen up"

lessonlearned

Doozergirl wrote: »

lessonlearned, I'd say you're renovating "restore (something old, especially a building) to a good state of repair."

Refurbishing is more superficial "to brighten or freshen up"[/QUOTE.

:rotfl::rotfl:

yes this one is certainly a full restoration.

Will be fab when finished.

Metranil_Vavin

lessonlearned wrote: »

Doozergirl wrote: »

lessonlearned, I'd say you're renovating "restore (something old, especially a building) to a good state of repair."

Refurbishing is more superficial "to brighten or freshen up"[/QUOTE.

:rotfl::rotfl:

yes this one is certainly a full restoration.

Will be fab when finished.

Is it in London, and can I buy it please?

captainhindsight_2

You will never be sure with a house that has been done up, plaster, wallpaper, tiles can hide so many problems.

Any warranties/guarantees are only valid for the individual work, not what it may be covering up or hiding.

These victorian terraces tend to be well built, but you never know as a quick lick of paint can hide so much.

Prothet_of_Doom

my First house was 'bodged' to look nice. I would have been better off buying the house that needed rewiring, a kitchen, a bathroom and windows, because after 5 years that's what I'd had to do to what I thought was a perfect house.

Not that I could have got a mortgage on the other house.