Move-In Ready vs Renovation Project: Our House-Buying Decision

Albermarle

https://forums.moneysavingexpert.com/discussion/comment/82163128#Comment_82163128

but if you come across a 'modernised' or 'renovated' or 'updated' older property, get evidence of any insulation added, in particular to the (inner surfaces of) external walls.

Good advice, but worth noting that in an older house with extensions, the more modern parts will be insulated anyway.

For example in our 100 year old solid wall house, if you take into account the extensions, double glazing, doors etc. the amount of the original solid wall still exposed to the outside downstairs is not large. So probably not a big deal if it was insulated or not ( it isn't). Upstairs there is more exposed, but the loft extension helps keep the heat in to some extent.

horsewithnoname

don’t assume new builds will be trouble free, and don’t assume older houses will be money pits. It also depends on what level of work needs doing - would you be able to stay in the home or would you need to factor in the cost of staying elsewhere? If you do choose an older houses will, prioritise things that absolutely need doing over more trivial things like different taste in decor.
And definitely insulation. I had my house insulated and it’s the best thing I’ve ever had done!

KeyWise

One way to take the emotion out of it is to price the renovation house as if the work were already done. Get a rough figure for everything on your list, add 15 to 20% for the surprises older houses always throw up, then compare “asking price plus works” with the move-in-ready options. As a very rough guide, a mid-range fitted kitchen often lands somewhere around £12,000 to £25,000 and a family bathroom £7,000 to £12,000. Anything involving knocking through walls needs a structural engineer, a steel beam and building regulations sign-off, and that’s usually where budgets run away. Get two builder quotes before you offer, not after. If the numbers don’t fit inside the price, that’s either your answer or your negotiating point.

On the good point about older houses that have already been modernised: “done” is only worth paying extra for if the paperwork backs it up. Ask early for building regulations completion certificates for any removed walls or extensions, an electrical installation certificate for any rewiring, Gas Safe records for the boiler and FENSA or CERTASS certificates for replacement windows. Missing paperwork doesn’t automatically mean bad work, but it does mean the risk has passed to you. A shiny new kitchen can hide old wiring and plumbing just as easily as a tired one shows it.

With three young children, the hidden cost of the renovation route is time. Living in a house with the kitchen and bathroom out at once is hard going. If you do go that way, plan the order so you always have one working bathroom and a makeshift kitchen, and assume it will take longer than the builder says.

Qurrat786

https://forums.moneysavingexpert.com/discussion/comment/82163090#Comment_82163090

I agree. A move-in-ready home would certainly make life easier with three children, but we're also considering older properties for the extra space and potential. Ultimately, we're looking for a home that works for our family now and as the children get older. 😊

Qurrat786

https://forums.moneysavingexpert.com/discussion/comment/82163128#Comment_82163128

That's a really good point, and something we hadn't fully considered before. Energy efficiency is becoming a bigger factor in our search, especially with rising household costs.

We've primarily been comparing properties based on size, layout, location and renovation potential, but insulation and running costs are just as important for the long term. If we do look at older properties, we'll definitely be asking what insulation improvements have been made, such as cavity wall insulation, internal or external wall insulation, loft insulation and updated glazing.

One of the attractions of newer homes is their energy efficiency, but we also like the larger rooms and plots that many older properties offer. We'll keep an open mind and make sure we look beyond cosmetic renovations to understand what has been done behind the walls as well.

Thanks for the advice, it's given us another important factor to consider when comparing properties.

Qurrat786

https://forums.moneysavingexpert.com/discussion/comment/82163136#Comment_82163136

That's a good point, thanks. We're definitely trying to keep an open mind and not just focus on newer houses.

One thing we like about older properties is the bigger rooms and larger plots, but energy efficiency is something we'll need to pay more attention to. It's easy to get distracted by a new kitchen or fresh decor and forget to ask what's been done in terms of insulation and heating.

We'll make sure to ask about things like wall insulation, loft insulation and double glazing when viewing older homes. A nicely renovated house isn't quite as appealing if the heating bills end up being much higher!

Thanks for the advice, it's definitely something we'll add to our checklist when viewing properties. 👍

Qurrat786

https://forums.moneysavingexpert.com/discussion/comment/82162388#Comment_82162388

That's very true. We're trying not to assume that an older property automatically means lots of work. Many have already been extended, modernised and well maintained over the years. For us, it's more about finding the right home in the right location with enough space for our family, and then assessing its condition on a case-by-case basis. 😊

Qurrat786

https://forums.moneysavingexpert.com/discussion/comment/82163419#Comment_82163419

That's a good point. We're trying to keep an open mind and not assume that new builds are problem-free or that older homes will be money pits. For us, it will come down to the individual property, the survey results, and whether any work is essential or can be done gradually over time. I completely agree about prioritising the important jobs first, and insulation is definitely something we'll be looking at too. 😊

Qurrat786

https://forums.moneysavingexpert.com/discussion/comment/82163255#Comment_82163255

That's a good point. Every house is different, and it's important to look at the whole property rather than just its age. Extensions, double glazing and other improvements can make a big difference, so we'll definitely be looking at what work has already been done and not just assuming an older house will be less efficient. 😊

Qurrat786

https://forums.moneysavingexpert.com/discussion/comment/82163430#Comment_82163430

That's really helpful, thank you. We're trying to look at the bigger picture and not just the purchase price. It's easy to get excited about a house and forget to factor in the true cost of renovations, especially when unexpected jobs crop up.

The paperwork point is a good one too. If a house has been extended or modernised, we'd definitely want to know that the work was done properly and signed off.

And with three children, the practical side is a big factor. We don't mind doing some work over time, but we'd much rather avoid living on a building site for months if we can help it! 😊