What to offer? "Three" bed in SE2

AlexMarshall

Hi,
My wife and I are looking at this terraced house on Overton Road SE2 https://www.rightmove.co.uk/properties/114182081

We haven't viewed, but it looks like it's in decent condition and just needs updating. It has a garden, 5 minutes to Abbey Wood station (with crossrail coming next year) and shops nearby. 

The layout is odd with the only bathroom downstairs through the kitchen and the third bedroom has been added with an extension downstairs. Our long term plan would be to move bedroom walls upstairs to add a small bathroom and extend the first floor for a third bedroom, and use the downstairs bedroom as a study or even knock through to make a big kitchen/diner.

Guide price is £375,000 it's been on the market for a few weeks without any offers. A two bed on the same road without an extension and better condition went for £350,000 in Nov 2020. our parents are suggesting offering £360,000. Any thoughts? Thanks!

Doozergirl

I wouldn't really describe the £350k house being in better condition.  It was obviously in need of work, just looked cleaner inside.  They think that the additional extension makes it worth the extra.  There's no photo of the back to really assess any level of quality of it, but if it's the room in pic 7, it's missing insulation, hence what looks like black mould.  If it is separate to the kitchen extension, I'd consider whether it does add value if it actually needs significant upgrading.  

Has anyone else extended on the first floor?  In a terrace you are seriously limited by the 45 degree angle rule from the centre of neighbours' windows.  I doubt that will be able to do what you're suggesting.   It is a small house.  Taking from the other bedrooms
will really compromise what are not big bedrooms, so you'll
want a decent sized bedroom.  The existing 4x3 master is the minimum for a master bedroom in  my book.  Getting that and leaving light to the existing back of the house isn't going to happen.    You might get a bathroom extension up
there, bearing in mind that the existing foundations to the kitchen are unlikely to be good enough.  

A downstairs bathroom is very typical of Victorian 2 bed terraces.  

gwynlas

Given other 2/3 bed houses with a mile have upstais bedrooms and bathrooms I would initially offer 350K on the basis it beeds modernisation.

Sunsaru

gwynlas said:

Given other 2/3 bed houses with a mile have upstais bedrooms and bathrooms I would initially offer 350K on the basis it beeds modernisation.

I would agree, and that's without using Propertylog....

Maxwell008

Move to kent Alex, abbey wood has a very bad rep
https://www.rightmove.co.uk/properties/109341206#/?channel=RES_NEW

Maxwell008

streetcheck.co.uk

AlexMarshall

Doozergirl said:

I wouldn't really describe the £350k house being in better condition.  It was obviously in need of work, just looked cleaner inside.  They think that the additional extension makes it worth the extra.  There's no photo of the back to really assess any level of quality of it, but if it's the room in pic 7, it's missing insulation, hence what looks like black mould.  If it is separate to the kitchen extension, I'd consider whether it does add value if it actually needs significant upgrading.  

Has anyone else extended on the first floor?  In a terrace you are seriously limited by the 45 degree angle rule from the centre of neighbours' windows.  I doubt that will be able to do what you're suggesting.   It is a small house.  Taking from the other bedrooms
will really compromise what are not big bedrooms, so you'll
want a decent sized bedroom.  The existing 4x3 master is the minimum for a master bedroom in  my book.  Getting that and leaving light to the existing back of the house isn't going to happen.    You might get a bathroom extension up
there, bearing in mind that the existing foundations to the kitchen are unlikely to be good enough.  

A downstairs bathroom is very typical of Victorian 2 bed terraces.  

Good spot with the black mould in that extension, which yes is the third bedroom. This house on the road managed to extend the first floor over the kitchen to make a third bedroom upstairs:
https://www.rightmove.co.uk/house-prices/detailMatching.html?prop=57528894&sale=8178277&country=england

zagubov

Is that a garage at the rear of the garden? Off-road parking is usually rare this close to central London.