Some advice needed from an experience property developer..

PasturesNew

Twinblade wrote: »

Out of interest, what is the property market like where you are?

The house I bought in December last year here increased in value by £20,000 within a month. We are talking about a house that when purchased didn't have central heating, a kitchen or a bathroom and the previous owners tenant hadn't cleaned it in 15 years. Every room was covered in and smelt of grease and nicotine.

Since then I have managed to gut it out completely, redecorate everything, put in a new kitchen and bathroom suite, install central heating and this has added another £20,000 (average between 3 agents) on top of the increased value given one month after purchase.

I know across the country house prices are considered to be slowing or decreasing, but where I am the prices are still rising.

Then you have failed to tell us where you are.

SouthCoast

failed to tell us where you are.

It must be Brighton, as house prices only ever rise and the City has a miracle economy that walks on water.

Twinblade

SouthCoast wrote: »

It must be Brighton, as house prices only ever rise and the City has a miracle economy that walks on water.

Nope. A small seaside town in Kent. We have luckily, since purchased had a new privately funded School open, and brand new shopping centre open and development plans granted for the seaside area to have a complete make over including galleries, museums, cinema and other entertainment facilities, not to mention luxury apartments built.

Also, the area has got the benefit of a brand new high speed rail link to London in under an hour being scheduled for introduction at the latter end of this year.

SouthCoast

not to mention luxury apartments built.

OMG, not another seaside ghetto being built!

Edited to add:

There are dozens of them between Eastbourne and Portsmouth.

Turnbull2000

Twinblade wrote: »

Out of interest, what is the property market like where you are?

The house I bought in December last year here increased in value by £20,000 within a month. We are talking about a house that when purchased didn't have central heating, a kitchen or a bathroom and the previous owners tenant hadn't cleaned it in 15 years. Every room was covered in and smelt of grease and nicotine.

Since then I have managed to gut it out completely, redecorate everything, put in a new kitchen and bathroom suite, install central heating and this has added another £20,000 (average between 3 agents) on top of the increased value given one month after purchase.

I know across the country house prices are considered to be slowing or decreasing, but where I am the prices are still rising.

So you bought it 8 weeks ago, had it valued 4 weeks later (why so soon?) then valued again very recently?

You also made substantial improvements within a 1 month timeframe? What was the % increase before the improvements, and what is the total value of the house? Have you had any offers on the property yet?


I'm afraid your post doesn't mean much without all the facts.

dys

Nope. A small seaside town in Kent. We have luckily, since purchased had a new privately funded School open, and brand new shopping centre open and development plans granted for the seaside area to have a complete make over including galleries, museums, cinema and other entertainment facilities, not to mention luxury apartments built.

Also, the area has got the benefit of a brand new high speed rail link to London in under an hour being scheduled for introduction at the latter end of this year.

Heh heh, what price falls? It's different in my area / town / street / house *

* delete as appropriate

moneysavinmonkey

Twinblade wrote: »

Out of interest, what is the property market like where you are?

The house I bought in December last year here increased in value by £20,000 within a month. We are talking about a house that when purchased didn't have central heating, a kitchen or a bathroom and the previous owners tenant hadn't cleaned it in 15 years. Every room was covered in and smelt of grease and nicotine.

Since then I have managed to gut it out completely, redecorate everything, put in a new kitchen and bathroom suite, install central heating and this has added another £20,000 (average between 3 agents) on top of the increased value given one month after purchase.

I know across the country house prices are considered to be slowing or decreasing, but where I am the prices are still rising.

this post is totally meaningless. until you have sold the property you have not realised any of this 'added' value. come back when you've completed + exchanged and tell us how much profit you made from a) your improvements + b) the 'rising' market !!! :rotfl:

Phirefly

PasturesNew wrote: »

Oh dear ... anybody got a BarBQ?
We've got a lamb to slaughter .....

OMG :eek: you stole my comment!!!!

Bf109

Twinblade wrote: »

Also, the area has got the benefit of a brand new high speed rail link to London in under an hour being scheduled for introduction at the latter end of this year.

They told you there is going to be a new rail link and you believed them???

BWAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA!!!!!

Has it got the tooth fairy, the easter bunny, an honest politician, and santa claus too?

You are talking about Ebbsfleet arent you?

mystic_trev

Twinblade wrote: »

I know across the country house prices are considered to be slowing or decreasing, but where I am the prices are still rising.

How many times did I hear that in the early 90's ? :rolleyes: