Which house would you buy?

gab3x

Two prototypical Victorian cottages in same street, two doors down from each other.

One is in OK shape at £580k (currently under offer) https://www.rightmove.co.uk/properties/106850816#/
The other needs work but is £500k https://www.rightmove.co.uk/properties/109411865#/

Which house would you buy? Which would be cheaper in the end, assuming both need different levels of reno?

tink_1983

80k would cover alot of work. But.. without surveys to tell you what underlying issues there are it's a hard question. 
Looks like first is sstc 

bouicca21

There is no way I’d be prepared to live with a downstairs bathroom, so I’d be factoring in the cost of moving it upstairs on top of anything else that needs doing.  I think it would still come in cheaper but there’s the added faff.  I think I’d make a cheeky offer on the more expensive one.

RelievedSheff

What is lurking at the bottom of the garden with the cheaper one?

searchlight123

if you don't mind a bit of work going on whilst you live there the £500k is a nice blank canvas. wouldn't take £80k to make it a better house.
nice area as well.

gab3x

tink_1983 said:

80k would cover alot of work. But.. without surveys to tell you what underlying issues there are it's a hard question. 
Looks like first is sstc 

I guess you need to shave £12.5k for tax off the £80k leaving you with £67.5k.

Yes first is now sstc, everything is selling like hot cakes at the moment.

lookstraightahead

RelievedSheff said:

What is lurking at the bottom of the garden with the cheaper one?

My question also 

gab3x

RelievedSheff said:

What is lurking at the bottom of the garden with the cheaper one?

There is a stream at the end of the garden and then behind it some business building.

lookstraightahead

Also .....

the first one has been reduced, if the second one has been put on recently it's probably nearer the real value based on the other one not selling.

wish I'd kept my Surrey flat from years ago, judging by those prices 🥴

gab3x

bouicca21 said:

There is no way I’d be prepared to live with a downstairs bathroom, so I’d be factoring in the cost of moving it upstairs on top of anything else that needs doing.  I think it would still come in cheaper but there’s the added faff.  I think I’d make a cheeky offer on the more expensive one.

Downstairs bathrooms are so divisive - I personally don't mind them as long as they are not at the end of the kitchen.

gab3x

lookstraightahead said:

Also .....

the first one has been reduced, if the second one has been put on recently it's probably nearer the real value based on the other one not selling.

wish I'd kept my Surrey flat from years ago, judging by those prices 🥴

I checked history on this area - median for this type of house if £585k, both houses are surprisingly good value.