Epc update requirement + judging value when nothing sold near

danlightbulb

Hi all

Looking at a house that has been extensively refurbished including an extension, all new heating and all new glazing. The epc on the advert is 4 years old dating from before the refurb was done and rates the house in the lowest category. Does this need to be updated legally?

Secondly, there is no house sold near this area apart from this house, so i cant compare sold prices to see if its about right. 2 years ago it sold for just £100k, now its on for £185k after the refurb. But a house sold last year in the same road for £117k so quite a way below, but of course condition is unlnown. How do i tell if this house is pitched right?

Thanks.

G_M

No. And as they are pretty useless, there no point anyway.


Ask yourself how you'll feel if you don't buy it and someone else pays 185K. Will you be kicking yourself and regretting letting it go?
Conversely if you pay 185K for it, will you spend the next 2 years thinking you've wasted a load of money.......

danlightbulb

Its hard to judge this one.

Its a solid wall construction built 40s. Its been upgraded alot and has had the extension built on the back, but still needs some running repairs inside and outside it has a driveway but no dropped kerb and you have to drive across a council owned grassed/slabbed area of maybe 20m to get to your driveway (i.e its set back from the road some way).

I think its overpriced by maybe £25k but the problem is that everything relatively reasonable seems to sell so fast round here. And im not sure how to value this driveway/access issue nor the fact its solid wall construction.

Thrugelmir

danlightbulb wrote: »

Secondly, there is no house sold near this area apart from this house,

Widen your search area.

Davesnave

Sounds like the best house on a not so great street to me.

That's different from that supposed ideal of the worst house on the best street, but it could still be OK if the area is likely to become gentrified soon.

But does it really have a drive if access is over 2 bus lengths of ground, with no right of way, and would that be tolerated in an upcoming area?

danlightbulb

I dont think there are any areas around here that are upcoming. Theres a mix of private estates (old and new), lors of ex-council estates and some areas of older houses on main roads.

The house has a driveway on the front of it, but to reach that you have to cross council land where there is probably only an informal arrangement.

I wont be offering on it. The house has the floorspace and plot size I want but its a 40s council box and very high priced for the street its in.

Davesnave

Looks as if you answered your own question!


PS. Councils don't do 'informal arrangements,' but they turn blind eyes when it suits them. A group of now ex-council properties I knew as a child had a grass and tarmac area in front of them for around 70 years, where everyone parked.....until 2018. Then, the council sold the plot. Now there's a nice wee bungalow sitting there!

AnotherJoe

You'd have to wonder why, if permission to drop the kerb and go across the council owned area was easy to get, why teh current owners dint get that whilst renovating (presumably with an eye to sell so this would be a beneft to have). I realise you have ducked out anyway but the fact not just that the parking permision is not there but they dont seem to have applied for it when they were going to sell, would be a major red flag for me.

AdrianC

danlightbulb wrote: »

Secondly, there is no house sold near this area apart from this house, so i cant compare sold prices

Yes, you can. Just look wider. Adjust prices for different areas.

danlightbulb

AdrianC wrote: »

Yes, you can. Just look wider. Adjust prices for different areas.

Its a rather strange area for houses here. its very built up (w.mids) but from one street to the next the houses and area reputation can be entirely different. This house is a half mile from another private estate where I offered £180+ on two houses and lost out. This area is much worse and the houses not as nice, yet it has the same floor space and plot size. If you compare those houses with this one and didnt know the area you might think they are similar but I know thr area and they are not.