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Buy a home to do it up myself

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Comments

  • eddddy
    eddddy Posts: 18,192 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Skag wrote: »
    i.e. where do you find such properties, if not Rightmove.

    There are no 'secret' property listings. (Why would anyone want to advertise their property on a listing that's difficult for buyers to find?)

    If you're not finding the type of properties you want on the main portals (like Rightmove), they probably don't exist.
  • Perhaps you just not looking when they are advertised and can go very quickly especially if priced right.

    I recommend you reach out regularly to estate agents in the areas you want to buy. Make them know to contact you should they find themselves trying to flog a doer/upper.
    Working towards:
    [STRIKE]*House Purchase (2015)[/STRIKE]
    [STRIKE] *Top-up pension (2016)[/STRIKE] [STRIKE] *Clear CC (2016) [/STRIKE]
    *Mortgage
    Overpayment (50% LTV by Jan 2020) *Clear student Loan(by Jan 2020)[STRIKE]*Save for a Car (2017)![/STRIKE]
    *Making the most of life!!!
  • Skag wrote: »
    Basically the issue is that me and my family are very tall and we need everything to be made in our measures, I don't look to flip properties.
    So we want everything do be done from scratch.
    Easy. Buy a 1930s semi with 2.7M ceilings.
  • TamsinC
    TamsinC Posts: 625 Forumite
    Build your own
    “Isn't this enough? Just this world? Just this beautiful, complex
    Wonderfully unfathomable, natural world” Tim Minchin
  • ACG
    ACG Posts: 24,712 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    I have done a few renovation properties to live in.
    The trick is to buy them in a poor condition but habitable.

    So heating, electrics, kitchen and bathroom all in place, even if they are old/not very nice. As soon as you start looking at properties which have extensive damp problems, structural issues etc you start needing to look at bridging loans rather than a normal mortgage and that is where costs in finance start to mount up and dig in to your profit.

    On a side note, your not paying a premium for a property which is in a move in condition, your paying the going rate. I am also not sure you would need to pull everything out - that seems a little extreme. Prime example being one of the properties we bought the stairs had been borded up on the rail. I took that off and the spindles that were underneath we stripped and varnished - cost to completely alter the stairs was about 2 days and £20.

    Same goes for the doors, they had been painted in a yellow gloss with a wood effect in the paint, we just stripped and varnished those, again no money spent on doors/hinges - just a few days and some varnish and some new handles.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
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