Renovating neglected property

timeism0ney

AdrianC - thanks for your extensive reply.

Answering your points:

In terms of balancing act, preferably more money less time, because for us time costs considerable money too - or so my username suggests anyway

I don't know if it needs replastering, and to what extent yet - so to be determined.

Kitchen and shower - we want to live there so above budget but nothing crazy.

Shonky-looking roof extension made me laugh. Windows - not sure about the quality, at this very early stage I think I'd opt for something that does the job (as opposed to high end).

Optimism is an assumption, I realise it may be shattered during further investigation.

Intention is long-term home. I think it would be very difficult to sell it for over 140K when done. I think middleclassbutpoor's estimate of 30K for the job (given current not yet negotiated asking price) is correct. Then again, we're not planning to sell so it only matters to some degree. If we overspend by 10K but are happy in our home for some time as a result it's ok. If we overspend by 50K and are tied into this house/area forever whether we like it or not, that's probably not a position we want to be in.

timeism0ney

theartfullodger - thank you!

AdrianC

I don't think it will be AT ALL difficult to lob £30k at that, and probably wonder where on earth it all went and how much more before the end is even in sight. Especially if you're going to be doing minimal DIY, even the garden clearance...

If you're looking for the financially sensible way to do it, it's buying the place pre-refurbished. Vendors know buyers have rose-tinted glasses on - and that's even factoring in DIY not point-and-pay.

timeism0ney

AdrianC wrote: »

it's buying the place pre-refurbished

What would this mean/involve - can you elaborate?

Cakeguts

The first thing I would do is to get a structural engineer to look at the gable wall. It is an end of terrace on a hill. You need to know that it isn't holding up the rest of the row.



It always takes a lot more to renovate a house than you think it does.



If the loft conversion where there are 2 of the 4 bedrooms is anything like the rest of the house then I would suggest that it is actually only a 2 bed. So how much would you pay for a 2 bed house in this area?

timeism0ney

Cakeguts, what would make the loft bedrooms not count as bedrooms in your view?

Cakeguts

timeism0ney wrote: »

Cakeguts, what would make the loft bedrooms not count as bedrooms in your view?

If they don't have adequate fire prevention in place. If it is a bodged job which I suspect it might be from looking at the state of the rest of the house it probably won't have enough insulation either which means it will be hot in the summer and freezing in the winter. The fire safety though is the biggest problem because you wouldn't want someone sleeping in a part of the house that didn't resist fire and which didn't have an adequate escape route.

timeism0ney

Doesn't the agency advertising this property have the responsibility of checking if this is the case, before putting it on the market as a 4 bed?

Gwendo40

Murphybear wrote: »

Have a look at Homes under the hammer. This is the sort of property they have all the time. You will need to set a realistic budget to refurb then double it.

Worst advice ever!

Homes Under the Hammer has complete and utter fantasy figures for refurb costs on almost every house they feature.

I don't know how the BBC get away with it, considering their holier than thou attitude to all things 'fake news'... I know this isn't a news programme but it's still supposed to be a factually accurate programme.

coffeehound

Gwendo40 wrote: »

Homes Under the Hammer has complete and utter fantasy figures for refurb costs on almost every house they feature.

Why would the buyers lie about their renovation costs - some sort of tax dodge?