Refurnishment Costs

Jay1b

There is a 2 bed house near me priced for £110K. It needs quite a lot of work, new kitchen, bathrooms, walls need to be replastered, new windows and has a 1/2 built extension which to be honest needs pulling down and rebuilding. The current owners apparently brought it last year to do up, but have since had personal problems.

Before i proceed any further, has anyone got a rough idea of what i should allow to get the house upto scratch? I know its incredibly hard to comment on without seeing it, but a rough idea is all i want.

Houses around that area are going for 120-135, what would be a good initial offer, if i did get that far? About £103K?

Thanks

Slider

It depends on what you can do yourself.

Normally I would use

Bathroom 3k
Kitchen 5k
Plastering £400 per medium size room
Windows £500 a piece

So if house comprises, kit, lounge, downstairs loo, 2 bedrooms and a bathroom

Then 5k + 3k + 2k (plastering) + 3k windows and doors. So 13k, say 16k to be safe.

Doozergirl

Please be careful because if someone buys a house to refurbish it and sells it on incomplete then it often means they have underestimated the work required and paid too much for it in the first place. Without meaning to insult your knowledge, are you also sure there isn't more work that needs to be done? If you haven't already, I suggest you take a builder round to quote you before you make an offer.

A complete refurb, including things you haven't mentioned like electrics, plumbing, roof, damp proofing, including extention would cost upwards of £25,000.