scary world of house buying

Mutton_Geoff

If you can't obtain real written proof something has been done, then assume the worst and cost it in. Boiler £2k, electrics £5k etc.


If the double glazing is upvc bear in mind that has a finite life too before panels start blowing. As a rough approximation, allow £1,000 per window for a replacement.


Bathrooms and kitchens allow £5k each.


It could be quite reasonable to knock £25k off an asking price based on the work needed to bring it up to scratch but too many people are pressured by the estate agents and their stories of other viewings and other offers. Think of it as a purely business transaction until it becomes your home.


As a FTB with a mortgage offer in place you are in a uniquely strong position with no chain and nothing to sell. Use that to your advantage because it isn't likely to happen again in your house buying life.


If the agent insists on keeping the price up, ask them for recent comparables to prove what is selling. And follow it up with your own research. You can download land registry records to discover price paid for a particular property if you wish.


And always remember, the agent works for the seller, not you.

klew356

Hi all,

I just received this reply from the EA,
New boiler installed 3 years ago. British gas do the servicing and it is due to have another service soon. Some wiring done 3 years ago, which included a new fuse box. I understand that work was done in the kitchen and conservatory.

Does this mean the rest of the house might need rewired or maybe it was rewired because the conservatory was put in?

klew356

Mutton_Geoff wrote: »

If you can't obtain real written proof something has been done, then assume the worst and cost it in. Boiler £2k, electrics £5k etc.
If the double glazing is upvc bear in mind that has a finite life too before panels start blowing. As a rough approximation, allow £1,000 per window for a replacement.
Bathrooms and kitchens allow £5k each.
It could be quite reasonable to knock £25k off an asking price based on the work needed to bring it up to scratch but too many people are pressured by the estate agents and their stories of other viewings and other offers. Think of it as a purely business transaction until it becomes your home.
As a FTB with a mortgage offer in place you are in a uniquely strong position with no chain and nothing to sell. Use that to your advantage because it isn't likely to happen again in your house buying life.
If the agent insists on keeping the price up, ask them for recent comparables to prove what is selling. And follow it up with your own research. You can download land registry records to discover price paid for a particular property if you wish.
And always remember, the agent works for the seller, not you.

That all sounds like great advice thank you! I am thinking it would be easier to rip the shower out with the tiles and start again so it could well be the 5k mark just for that
And that quote they work for the seller not you is a great one to remember!

The windows are wooden – not sure if that makes a difference

Davesnave

klew356 wrote: »

Hi all,
Some wiring done 3 years ago, which included a new fuse box. I understand that work was done in the kitchen and conservatory.
Does this mean the rest of the house might need rewired or maybe it was rewired because the conservatory was put in?

. In itself it doesn't mean anything, except that those circuits are most recent and you should look for the appropriate certification of the work in due course.

Mutton_Geoff

klew356 wrote: »

Hi all,

I just received this reply from the EA,
New boiler installed 3 years ago. British gas do the servicing and it is due to have another service soon. Some wiring done 3 years ago, which included a new fuse box. I understand that work was done in the kitchen and conservatory.

Does this mean the rest of the house might need rewired or maybe it was rewired because the conservatory was put in?

If you go to the planning portal for the local council and click on building regulations, put the postcode for the house in there and you may see the approvals for the install of the boiler and electrical work to back up the agents story.


Make a list of things you need doing before you'll buy and one of them should be a boiler test and service with certificate to prove. In my experience BG are no advert for good quality workmanship.

Crashy_Time

https://www.msn.com/en-gb/money/homeandproperty/help-to-buy-has-left-us-trapped-charles-and-jessica-want-to-sell-their-two-bed-flat-but-it-would-leave-them-%C2%A318k-out-of-pocket/ar-BBMSTlL?li=AA54rU&ocid=mailsignout

klew356

Going back for a second look with my parents in tow, will let you know how I get on

AlexMac

Brilliant that you are taking the time to update us.
It seems that you are very keen on this one!

Don't over think what might could go wrong. No house is perfect (Sorry Crashy...) and while Mutton's estimates are fair, you could shave a lot off by acquiring DIY skills; tiling or shower panelling, replacing kitchen unit fronts with off the peg or custom doors and drawers, wood or laminate flooring....

If a new electrical consumer unit went in 3 years ago that's a good sign and if there was very poor hidden wiring, it's "trips " would be flicking off; my 2 year old trips go if a spotlight bulb blows!

And I'm realistic about boilers as every one of my half dozen last homes needed a new one (at only £1.3 - £3k; the latter for an upmarket one with a pressurised storage cylinder) within 3 years

So as long as the basics are right; roof not shot, no subsidence, no galloping damp or rot.... Buy it, do the minimum , then budget your priorities. We revamped our kitchen with several additional units and fronts (DIY), new tops, sink, hob, lights &sockets (professionals) and two new plug in fan ovens for not much over half Mutton's five grand...

But also, remember that things do go wrong with a tiny minority of purchases. So if the worst happens and they don't accept a reasonable offer ( they're not selling a new or perfect house) or it falls through, there will be another house. All our best buys were random finds, often after prior disappointments or lost buys

klew356

AlexMac wrote: »

Brilliant that you are taking the time to update us.
It seems that you are very keen on this one!
Don't over think what might could go wrong. No house is perfect (Sorry Crashy...) and while Mutton's estimates are fair, you could shave a lot off by acquiring DIY skills; tiling or shower panelling, replacing kitchen unit fronts with off the peg or custom doors and drawers, wood or laminate flooring....
If a new electrical consumer unit went in 3 years ago that's a good sign and if there was very poor hidden wiring, it's "trips " would be flicking off; my 2 year old trips go if a spotlight bulb blows!
And I'm realistic about boilers as every one of my half dozen last homes needed a new one (at only £1.3 - £3k; the latter for an upmarket one with a pressurised storage cylinder) within 3 years
So as long as the basics are right; roof not shot, no subsidence, no galloping damp or rot.... Buy it, do the minimum , then budget your priorities. We revamped our kitchen with several additional units and fronts (DIY), new tops, sink, hob, lights &sockets (professionals) and two new plug in fan ovens for not much over half Mutton's five grand...
But also, remember that things do go wrong with a tiny minority of purchases. So if the worst happens and they don't accept a reasonable offer ( they're not selling a new or perfect house) or it falls through, there will be another house. All our best buys were random finds, often after prior disappointments or lost buys

Thank you that is a really sensible post which I needed to hear!
There is another house which is 30k more, it’s a much nicer house, in some ways but to me it needs equally the same decorating work and is top end of my budget. Id be tempted to go for a second look but id have to offer a much lower than asking price for it. I feel I need to get this one out of my head as I don’t want to put all my eggs in one basket. I know from hints the EA gave me that they would take less than asking price but that the offer I put in might be classed as cheeky, I don’t know?
Also its easier to keep you all updated as it’s a bit of a secret I’m looking at houses in the first place. Only 2 very close friends know I’m on the hunt. The house that I AM going for a second look at, if I look at it sensibly will mean my monthly payments are lower and if I get the basics done I would have more money to ‘do up’ as I went along. It has a massive shed that I have no need for, which actually blocks view and light that I would want rid of, I was thinking god more expensive then It dawned on me in the shower this morning that I work with people that could remove and get rid of it for me. lol. Think I am an overthinker!

Davesnave

klew356 wrote: »

It has a massive shed that I have no need for, which actually blocks view and light that I would want rid of, I was thinking god more expensive then It dawned on me in the shower this morning that I work with people that could remove and get rid of it for me. lol. Think I am an overthinker!

You may not be thinking hard enough.

Peruse sheds of similar size and condition on eBay. Then decide if you actually need those friends to do something you could easily do yourself and make a profit.

Also, while this shed might be too large, sheds are useful when doing-up houses, unless you want to store all the stuff you'll soon accumulate in the house.