How much to renovate 3 bed terrace?

concrete_kid

I've seen a house that needs some work, I'm unsure whther it would be cheaper to buy it (or something similar) or one that is already done. I also like the idea of starting from scratch, as I have quite distinctive taste so would probably want to change any house I bought anyway.

The house is a 3 bed terrace and is on for 80k, houses in the same street go for 120-30K. It's in Liverpool

I'm wondering how much it would cost, and I do understand there are a lot of variables here, just after a ballpark to see if it would be viable

It needs:

New central Heating and boiler
New wiring
Plastering throughout (maybe get away with upstairs)
New kitchen
New flooring throughout (or floorboards sanding)

Any ideas, anyone had experience of this?

Thanks

concrete_kid

I can't add a link, however if you search this

For sale blantyre road wavertree L15

in google and click on the first zoopla result, it comes up first.

EverGreen_2

http://www.rightmove.co.uk/property-for-sale/property-47436559.html?premiumA=true


http://www.rightmove.co.uk/property-for-sale/property-48334319.html


http://www.rightmove.co.uk/property-for-sale/property-48948173.html




which one?


I like the last (Westdale..)

bris

15k give or take a couple of grand.

rosie383

http://m.zoopla.co.uk/for-sale/property/wavertree/blantyre-road/#/for-sale/details/35291066

I think this is the correct link. Looks quite good. No idea of renov costs.

moneyistooshorttomention

Partly depends on what standard you plan to get it to.

Presumably you intend to get it to "starter home finished" standard, rather than "forever home finished" standard?

"Finished home" standard meaning higher-quality stuff and more "thorough" dealing with things generally.

caprikid1

"I have quite distinctive taste "

20-25K

AdrianC

As a rough rule of thumb, if the purchase price was cheap enough to allow a developer to buy it, renovate it, then resell it for a profit, it wouldn't still be for sale. And that's taking into account paid labour, but not at anything close to the full Joe Public rate.

So, if you can DIY substantial parts, you may well be quids in by buying the project.
If you want to do it as a semi-cash-neutral hobby, then go for it.
But if you think you're going to get builders in and still make money...? You've been watching too much daytime TV!

Batchy

Depends, New boiler and Radiators, If you can swap like for like, its easy...

Boiler 1k
Radiators 50-80 each, please couple of days labour, one for boiler, and one to swap radiators, If you need to reposition replumb everything, add another 200 of materials, and 3 days labour, potentially, plus a clean up afterwards.

Kitchen, if you are talking new Kitchen from scratch, plan for min 4k if you do it yourself and whatever you use in materials, double it roughly to pay someone else to do it. If you just want new cupboard doors, and worktops, then its 70 quid a door, and circa 100 per 4m length of worktop ish.

Wiring, we talking complete rewire or just new fuse board, and new sockets... otherwise you are talking exra sockets, and to new building regs too... difference is £300 to £3,000

New floor, big roll of carpet could do whole house for 1k, but if your fussy you could spend that per room.

Plastering, your talking 120-250 per day, they work fast though so its a false economy thinking you can do it as good as a professional. easy one room per day on average, depending on size and hassle factor.

so basically min 8k-30k (but there is no maximum) is a good ball park, especially if you go for solid oak flooring, granite worktops, and Rewire/ network the whole house etc, etc...

concrete_kid

Thanks for all replies. Yes was thinking starter home finished. I'm happy to get it liveable and carry on doing things when I'm living in it. I've renting some dives in the past so I'm used to it.

'Distinctive taste'- basically, quite like quirky, 2nd hand stuff so everything does not have to be new and shiny, would only buy new what I couldn't find 2nd hand.

Adrian C - This is sort of what I was thinking, but when I do look at finished houses, they never seem to be the way I want them so would want to change quite a lot anyway!

Also it's not really about profit, I wouldnt be doing it to make money as such, it would be more to with getting a place exactly how I wanted it. although don't want to waste loads of money doing so, if I could buy a finished one and change that. I'd plan to live it for at least 5 years..

It's reallygood to have some figures, obviously they'd all need to be factored in if I bought a doer upper.

theartfullodger

I ran the MSE (private) builder's estimator spreadsheet with all data: £18,743:52.


Cheers!