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bargin house
dsp_3
Posts: 21 Forumite
i have seen a house avalible 5 dooors away from theone i have brought and its 15k cheaper, same house 3 beds but needs new central heating, kitchen bathroon etc. what is the chance of doing up a house that is structually sound but needs new everything for around 10k , does it sound feasable?
it has a back boiler fire and the garden also needs flattening , does 10k sound impossible? its victorian and is exactly the same house as i have brought minus having everything done up to a decent standard , i would be looking at making 5 - 7 k on a 3 month refit
it has a back boiler fire and the garden also needs flattening , does 10k sound impossible? its victorian and is exactly the same house as i have brought minus having everything done up to a decent standard , i would be looking at making 5 - 7 k on a 3 month refit
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Comments
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You'll have in/out costs of at least £5-10k over the 6 months it will take to buy/renovate/sell on top of your estimate to tidy the place up. Not worth it for that small amount and large risk in this declining market.Signature on holiday for two weeks0
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Belive me every do up job cost more than you expect and theres also capital gains tax too of 40%0
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Have you included all legal costs, reselling fees, and stamp duty?Been away for a while.0
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good point all i'll get me coat :rotfl:0
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I can take no responsibility for the use of any free comments given, any actions taken are the sole decision of the individual in question after consideration of my free comments.
That also means I cannot share in any profits from any decisions made!;)0 -
Even of you could do a refit for £10k, how much do you think it's going to cost you in legal fees, mortgage repayments and estate agents fees?
£10k is tight anyway for somewhere that need total modernistaion. I'd put a total refit more in the region of £16k.
It's priced at £15k below for a very good reason. :doh:Everything that is supposed to be in heaven is already here on earth.
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