Survey repairs come to £55k on a £440k home Grade 2 home.

canaldumidi

Two points:

First, that looks like good purchase pricing. You're paying £50K less than other properties, and need to spend (it's claimed) £50K. Where's the problem? Bear in mind the other properties won't be tip-top, whereas yours will be once you've done the work.

Next, many of those items either won't need doing, won't cost that much, or should have been obvious to you when you made your offer.

heating may need to be replaced to meet 2050 guidelines on energy efficiency.

made me laugh! You expect your seller to pay for improvements due 30 years in the future!

It's hard to comment without seeing the report but eg 'wall and window defects' must have been obvious to you. What? the wallpaper is old? Loose? Or perhaps the plaster is poor/lumpy? Does not have to be done - it's your choice.

'Electricity testing/upgrades'. Your surveyor is not an electrician! Fine pay an electrician £100 to test, but how is the surveyor costing upgrades at £1500? And anyway, why upgrade? That's a nice-to-have choice, not something your seller should pay for! I suspect it's to do with 'not to current standards', but almosr NO house is to current standards, except brand New Builds.

You have, I'm guessing, a very detailed survey which will be very useful for you in formulating 3 'to do' lists: urgent/1st 3 months; over the first year; and optional when you have cash in a few years time.

But expecting your seller to pay for all this? No, that's why you're paying £440K not £500+K

1)      Should we walk away, even though we love the house?

2)      If we don’t walk away, should we negotiate?

3)      In your experience, are these Level 3 reports accurately able to assume the cost of repairs?

1) No.It's a lovely house that you are getting at a good price but needs some TLC

2) Almost certainly not.

3) They almost always a) over-estimate costs (otherwise clients would complain later!) b) cost for things that are non-essential nice-to-have

Chandler85

I'm not sure £10k now to meet a 2050 target is really "urgent" if we are honest.

Surveyors almost always over estimate costs.

He has the drain being relined, without any reason to be done.  A chimney needs defects addressing, you can probably have it removed or fully rebuilt less then his estimate etc.

TripleH

We have a gas heating system. I am sure a surveyor would add a simular comment about our failure to meet 2050 targets.

In context our house was completed less than a year ago, the system is (we're told) very efficient. I appreciate you're in a different position though.

Is the house a forever home? If so it doesn't matter that it will cos £55K. That list won't differentiate between work you need to do immediately and work needed to be done in next 5 years I suspect.

The roof will need fixing at some point regardless. There will be things you can do to ease problems yourself for a lot less than is quoted as well.

user1977

Chandler85 said:

I'm not sure £10k now to meet a 2050 target is really "urgent" if we are honest.

In any event, I'm sure that in 2050 they'd look at your then 28 year old system installed in 2022 and declare it obsolete!

canterburyhousesearch

canaldumidi said:

Two points:

First, that looks like good purchase pricing. You're payig £50K off less than other properties, and need to spend (it's claimed) £50K. Where's the problem? Bear in mind the other properties won't be tip-top, whereas yours will be once you've done the work.

Next, many of thse items either won't need doing, won't cost that much, or should have been obvious to you when you made your offer.

heating may need to be replaced to meet 2050 guidelines on energy efficiency.

made me laugh! You expect your seller to pay for improvements due 30 years in the future!

It's hard to coment without seeing the report but eg 'wall and window defects' must have been obvious to you. What? the wallpaper is old? Loose? Or perhaps the plaster is poor/lumpy? Does not have to be done - it's your choice.

'Electricity testing/upgrades'. Your surveyor is not an electrician! Fine pay an electrician £100 to test, but how is the sureyor costing upgrades at £1500? And anyway, why upgrade? That's a nice to have choice, not something your seller should pay for!

You have, I'm guessing, a very detailed survey which will be very useful for you in formulating 3 'to do' lists: urgent/1st 3 months; over the first year; and optional when you have cash in a few years time.

But expecting your seller to pay for all this? No, that's why you're paying £440K not £500+K

1)      Should we walk away, even though we love the house?

2)      If we don’t walk away, should we negotiate?

3)      In your experience, are these Level 3 reports accurately able to assume the cost of repairs?

1) No.It's a lovely house that you are getting at a good price but needs some TLC

2) Almost certainly not.

3) They almost always a) over-estimate costs (otherwise clients would complain later!) b) cost for things that are non-essential nice-to-have

Thank you for this detailed post. I couldn't agree more. In fact, there is a 3-bed house literally opposite (albeit slightly bigger), more modern and with a garage, selling for £550k. Another house on the street, 2-beds, dated, is selling for £400k, so I do agree that £440k is a fair price. 

A lot of the costs we were expecting. £12k for windows for example, and re-painting the front and other clearly visible aspects. We were expecting to do a complete redecoration/renovation inside. 

TripleH

Windows don't have to be all replaced at once, it's nice if they are however. My mother recently replaced her sinle glazed sash windows for double glazed after nearly 40 years in the house. (We had big movable sheets of glass in a frame as double glazing when we moved in that soon went when you have small children.

GDB2222

Ahem, is the property grade 2 listed? Is that what the title means?  If so, there will be stringent limits on what works you can do, and how you do it. Costs for heritage works can be v high, I’ve heard. Never had a listed property myself, though. 

canterburyhousesearch

GDB2222 said:

Ahem, is the property grade 2 listed? Is that what the title means?  If so, there will be stringent limits on what works you can do, and how you do it. Costs for heritage works can be v high, I’ve heard. Never had a listed property myself, though. 

Yep, it is Grade 2 listed. It's Georgian-era and in an historical part of Canterbury. 

GDB2222

Has your surveyor taken that on board with his cost estimates?

I am asking particularly because he mentioned a heat pump, which seems out of keeping with a Georgian terrace. 

canterburyhousesearch

GDB2222 said:

Has your surveyor taken that on board with his cost estimates?

I am asking particularly because he mentioned a heat pump, which seems out of keeping with a Georgian terrace. 

That's a good point, and I believe he has done. These notes were made:

"We understand that the property is Grade II Listed. In addition to the normal planning rules, an additional permission – “ listed building consent” is then required before alterations can be made which would affect its character as a building of special architectural or historical interest including the demolition of any part of the building."

And on the £3500 estimate for re-rendering:

"You should search the Federation of Master Builders register, which is available online, for contractors who have experience with lime building products. At the very least, all cracks found in the render should be sealed as they occur, to minimise the risk of damage to the brickwork beneath."

He also alludes to using contractors who have x or y qualifications and can work on historic buildings.