Cost of Renovating a Three-Bedroom House from Top to Bottom

There_Goes_The_Stingray

So, I'm thinking of moving due to antisocial neighbours to a property which needs substantial work. Its a 1960s three-bedroom detached house which looks like it's been repossessed by the bank/mortgage lender. At the present moment, they are allowing open bids and the highest is around £150,000.

If I could possibly secure this house for around £160,000 I would have £60,000 to do it up. Unfortunately, it's a leasehold property and it would cost £10,000 to buy the freehold. So, there's £10,000 gone already, so I have £50,000 left.

The house is in quite a sorry state, but looks structurally solid.

It does need:

New roof.
New windows and doors.
New electrics.
New gas boiler and plumbing.
New bathroom.
New kitchen.
And decorated and carpeted throughout.

Would it be possible to carry out that kind of work for no more than £50,000 in 2018? I do have family members who know tradesmen who can do the work at a slightly reduced rate, if that helps.

Thanks.

LandyAndy

Possible - yes, desirable - probably not.

Not all of that needs doing immediately, I would hope.

If it really needs a roof do that first.

Then the electrics and plumbing and subsequent replastering.

After that do any of the remainder HAVE to be done urgently?

Spread the financial load and get a better result.

tonyh66

Will it be worth £210k plus after renovation?

armchaireconomist

How long is a piece of string?

FreeBear

New roof. - Are you sure about that ? A 1960s roof should still be good for quite a few years to come. Although if it does need stripping off, a good opportunity to put loads of insulation in the loft space and board it over. With scaffolding up, it makes sense to do any other external work at the same time (paint window frames, repoint, etc).

New windows and doors. Doing these at the same time as the scaffolding is up would be good. But then most windows can be installed from the inside.

New electrics.
New gas boiler and plumbing.

Both of these can/should be done before any redecorating. As to cost, how long is a piece of string.

New bathroom.
New kitchen.

If these are usable at present, live with them until the budget allows for replacement. Certainly with the kitchen, once you've lived with it for a while, you have a better idea of what you want in terms of layout, cupboards, and drawers.

And decorated and carpeted throughout. - The devil is in the detail. Slap a bit of emulsion on the walls & ceilings at £7 for a 10l tub and cheap B&Q laminate. Or £50 a roll for designer wallpaper coupled with deep pile carpets.

There_Goes_The_Stingray

tonyh66 wrote: »

Will it be worth £210k plus after renovation?

Hard to say. Some detached properties in the same area, go for around £220,000-£280,000.

There_Goes_The_Stingray

FreeBear wrote: »

New roof. - Are you sure about that ? A 1960s roof should still be good for quite a few years to come. Although if it does need stripping off, a good opportunity to put loads of insulation in the loft space and board it over. With scaffolding up, it makes sense to do any other external work at the same time (paint window frames, repoint, etc).

It's actually a dormer house, with a couple of windows sticking out of the roof, so it's vital, it's watertight. I would say 40 to 50% of the houses on the estate have had their roof replaced in the last 10 years. I have family on the same estate, and they've all had their roofs replace recently.

Plus, there is visible mould on the inside of the upstairs walls. Whether this is due to condensation or a leaky roof I don't know, but I'm guessing it's best to have it done to rule out any future problems and price increases.

SG27

Im buying a 3 bed semi which needs renovation. We are budgeting £35,000 to do:

Rewiring
New boiler, (some replumbing)
New windows and doors
2 new (small) bathrooms
Replastering throughout
Redecorating
Repairs to flat garage roof.

The kitchen we are going to live with for a couple of years until we can do a small extension.

We have had a full building survey with a surveyor who is going to give us cost estimates for the work needed. So this should help us budget.

Furts

There_Goes_The_Stingray wrote: »

It's actually a dormer house, with a couple of windows sticking out of the roof, so it's vital, it's watertight. I would say 40 to 50% of the houses on the estate have had their roof replaced in the last 10 years. I have family on the same estate, and they've all had their roofs replace recently.

Plus, there is visible mould on the inside of the upstairs walls. Whether this is due to condensation or a leaky roof I don't know, but I'm guessing it's best to have it done to rule out any future problems and price increases.

Dormer bedrooms are not nice, neither are they desirable, Your choice but do careful thinking here.