Buying a 1930s house in North London - Issues/Concerns

Apollon28

Hi Everyone,
So, I am a first time buyer looking to buy a 1930s house in North London. I came across a mid-terraced house that was recently renovated (i.e. vinyl flooring, painted walls, modern kitchen and bathroom) and decided to put an offer which was accepted.
I have started the procedures and we are halfway through (contracts have not been exchanged yet), so I had a homebuyer survey done for it.
The surveyor said that it is not a bad house but there is some work needed as there are a few issues.
The summary of the report was the following:

We are pleased to report that this property is considered to be a reasonable proposition for purchase if you are prepared to accept the cost and inconvenience of dealing with the various repair and improvement works reported. These deficiencies are quite common in properties of this age and type. If the necessary works are carried out to a satisfactory standard, we can see no reason why there should be any special difficulty on resale.

The main issues that were identified were:

• There is cracking and movement to the brickwork above the front reception room window and above the patio doors at the rear. The movement is consistent with the absence of an effective lintel above the window and door openings. We found no evidence of significant past or present foundation related movement in the external structure of the building.
• Staining to the chimney breast within the roof void and lead flashings around the base of the stack need to be replaced.
• The cowl to the rear of the stack appears to be of a type that may contain asbestos.
• Evidence of staining was noted to some gutter and down pipe joints suggesting localised leakage.
• The soffits have been clad in a cement board and likely to contain asbestos.
  
• Whilst the consumer unit appears to have been replaced more recently some wiring and fittings appear more dated.
• Without specialist examinations of the main gas system we are unable to comment on the quality or safety of the system and as a precautionary measure we would recommend further investigations be undertaken prior to purchase.
• From our local knowledge, the property may be built upon shrinkable subsoil. This is susceptible to shrinkage or expansion according to its moisture content and seasonal movement cannot be ruled out, especially during long spells of dry weather.

As you can see from the above, there quite a few issues that need to be addressed but I am not sure if at the end of the day is worth going ahead with my purchase. I understand that all houses have issues but based on all these issues do you think this house is worth buying?
Also, I am not sure if a Building Survey is also required in order to go into more detail for these issues?
I would appreciate it if someone could share his/her views on the above.
Thank you.
Matt

FreeBear

Most of the "issues" mentioned are consistent with a property of this age. Flashing, guttering, and downpipes are relatively small jobs that can be tackled on an as & when basis as long as there is no leaking.

Much of London is built on clay - Not a lot you can do about this unless you buy elsewhere.

The electrics are worth getting a second opinion on - Depending on the age of some of the cables, a rewire may prudent.

The one point of concern is the lack of support over the windows & doors. FENSA has been recommending a check for lintels when fitting replacement doors/windows for quite some time now. It is shocking to see the number of installations where this basic step is skipped. Whilst there is a cost involved when fitting the window, doing so after the event costs even more.

Had a window replaced last year, and a contingency of £1,000 was built in to the quote subject to a lintel being required. As I suspected, it was, but fitting was fairly easy, and it came in at just £300. Fitting after the event would be in the £1,000 to £2,000 bracket. For your property, I'd budget £5,000 to £6,000 and include a contingency for some internal redecoration. Subject to negotiation, the vendor might drop the price a little. If the asking price compares favorably for the area, the final decision is yours.

Apollon28

Thank you for your reply.
I have spoken to an electrician and he is going to have a look for us. The vendor has been living there for the past 7 years so they have argued that they never had an issue with electrics. However, I do think it's better to be aware of any issues now that's why we will be doing some checks.
Regarding the windows, only 3 out of 7 carried a FENSA Certificate. It seems that they were changed by two different companies at different periods. The ones with the certificate, we could get the company that installed them to do the repairs as they come with a 25 year warranty. The other ones I am not so sure about as they didn't have a warranty.

blue_max_3

Nothing in that report would concern me, if everything else is right about the property. All amount to minor maintenance issues.
Not all need tackling immediately. The house has stood 90 years, so I wouldn't be rushing to add lintels etc.
There is a rule of thumb to say you should allow 1% of the property value per annum for maintenance. I'd say the report is largely reassuring.

FreeBear

Apollon28 said: Regarding the windows, only 3 out of 7 carried a FENSA Certificate. It seems that they were changed by two different companies at different periods. The ones with the certificate, we could get the company that installed them to do the repairs as they come with a 25 year warranty. The other ones I am not so sure about as they didn't have a warranty.

There are other bodies that can self certify the installation of doors & windows besides FENSA. All of them will (should) notify the local council planning dept. when the work is completed, so the council will have records.

The guarantees may not be transferable, so you need to check the small print before attempting to make any claim. In all probability, the guarantee will only cover the frame & glass and not the installation. Again, read the small print.

robatwork

I've never seen a survey start with "We are pleased to report" - that's enough for me.