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How to move house when my house needs work?

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Comments

  • RelievedSheff
    RelievedSheff Posts: 12,937 Forumite
    10,000 Posts Seventh Anniversary Name Dropper Photogenic

    It is highly unlikely that the figures will stack up for a bridging loan, running two houses and renovating one house.

    Just sell your current house cheaply based on the work required and move onto pastures new.

    Some people like to buy a project, you might be pleasantly surprised at the price you get with the house as it is.

  • TroubledTarts
    TroubledTarts Posts: 565 Forumite
    500 Posts First Anniversary Photogenic Name Dropper

    Not knowing sizes of rooms or what you want £10k for a kitchen and bathroom is possible.

    Timescales 3 months

    Very rough estimates but without loads of information that's about it.

  • Albermarle
    Albermarle Posts: 31,268 Forumite
    10,000 Posts Seventh Anniversary Name Dropper

    The bathroom also needs replacing and I need new windows.

    I've also no idea how much kitchen and bathrooms cost.

    I have no idea how long it takes to do a kitchen and bathroom. Can anyone tell me?

    About half the answers you got where to not bother doing any significant work and just sell it as is. You seem to be ignoring that option ?

    The problem is that it takes quite a lot of time/money/efforst to replace a bathroom & kitchen, especially as you have no experience. You have to choose designs, choose what to go in there, find someone to do it, and even then you could well have problems with late/wrong/faults goods deliveries/dodgy fitters.

    Probably at a minimum you would be looking at £10K, probably more ( + the above hassle) and then a buyer(s) may take one look at the kitchen or bathroom ( or both) and say 'I do not like that, we will have to rip it out and buy a new one'

  • peterhjohnson
    peterhjohnson Posts: 486 Forumite
    Sixth Anniversary 100 Posts Photogenic Name Dropper

    The following procedure may be possible:

    • 1. Get three local agents to look at selling the property as is for you. They will probably be a little optimistic so work out the lowest price and subtract 10%
    • 2. Hopefully, you are looking at enough money to buy your new place
    • 3. If so, put your current place on the market and get an acceptable offer within a week or two
    • 4. Offer on the new place and you can truthfully say you are SSTC on your current house
    • 5. Sale and purchase proceeds as normal and you are moved in about 3 months
    (My username is not related to my real name)
  • Herzlos
    Herzlos Posts: 16,393 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper

    Bridging loans are pretty expensive and you'll need a lot of money to maintain both houses whilst the old one sells, so it's a risk.

    What's the old house worth and how much mortgage is left on it? It's it's worth enough and you've got enough equity you may be able to get a new mortgage on the new house rather than a bridging loan.

    If the kitchen and bathroom are usable enough for it to be mortgageable, then I'd leave it as it. The buyer may want to rip them out anyway.

    Have you spoken to estate agents yet?

  • lincroft1710
    lincroft1710 Posts: 19,449 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper

    Do not bother replacing kitchen or bathroom or windows, sell as a "Doer-upper".

    Talk to several EAs, but beware if they price the house too low as they may have a tame developer who is always looking for such a property

    If you are querying your Council Tax band would you please state whether you are in England, Scotland or Wales
  • twoLou
    twoLou Posts: 476 Forumite
    Part of the Furniture 100 Posts Name Dropper Photogenic
    edited 23 April at 3:31PM

    Firstly I’m sorry you have so much to contend with.

    You did ask about storage, as I’m sure you know it would depend on the size of your property and if you have a lot of belongings and furniture

    I’m not sure where in the country you are but I used one not too long ago and I’m happy to look up the price for you if that would help give you a general idea?

    The one I used helpfully says for example’ this container would hold the contents of a 1 bedroom flat’ or 1 Luton van or x number of boxes’

    I found it so useful as it’s difficult to imagine how much an 80 square foot container will hold.

    (The above size if it were in an outside container would be approx £20 a week for 8 weeks then £40 thereafter)


    A lot of removal companies also do storage and would help you pack if you’d be comfortable with that

    If not they would collect your already packed belongings

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