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In general, I love listed buildings. I have lived in or owned several Grade 11 listed houses.
But sorry, I think you are mad to consider this property!
Firstly, I think it is VERY odd that the asking price has dropped so dramatically (275k to 150k in a matter of months). There could be major problems with this house.
Secondly, as FTBs without any experience (and not a bottomless pit of funds as you say the original price was out of your range) you could easily find yourselves in a bit of a nightmare.
SG27 says their buildings insurance has cost no more for being listed. In my experience some insurers won't take on listed properties and with those that do, you WILL pay more. In addition, you won't get "deals".
And as this house is thatched you WILL have more trouble getting insurance and it WILL cost more.
If anything needs to be done to the house you could pay out a lot of money, plus have the possible aggravation of dealing with various people at the local council who may or may not agree with what you want to do, and if they do agree will be very fussy how you do it.
Full of angst has not had any problems - but by their own admission has not had to make any changes requiring dealings with conservation people.
I agree with jamesml, Itismehonest and pinkteapot.0 -
In general, I love listed buildings. I have lived in or owned several Grade 11 listed houses.
But sorry, I think you are mad to consider this property!
Firstly, I think it is VERY odd that the asking price has dropped so dramatically (275k to 150k in a matter of months). There could be major problems with this house.
Secondly, as FTBs without any experience (and not a bottomless pit of funds as you say the original price was out of your range) you could easily find yourselves in a bit of a nightmare.
SG27 says their buildings insurance has cost no more for being listed. In my experience some insurers won't take on listed properties and with those that do, you WILL pay more. In addition, you won't get "deals".
And as this house is thatched you WILL have more trouble getting insurance and it WILL cost more.
If anything needs to be done to the house you could pay out a lot of money, plus have the possible aggravation of dealing with various people at the local council who may or may not agree with what you want to do, and if they do agree will be very fussy how you do it.
Full of angst has not had any problems - but by their own admission has not had to make any changes requiring dealings with conservation people.
I agree with jamesml, Itismehonest and pinkteapot.
My insurer, Royal sun alliance through YBS told me that as long as the property is not 'non standard construction' then it doesn't matter that its listed. Thatched obviously is non standard.
With regards to the price this could be an issue unless they are in serious trouble and need to sell ASAP. Another possibility is that it's been taken on by an agent that prices very low to get interest but in reality they vendor wont accept even the asking price. Express Estate Agency used to do this. The are advertised as offers in excess of £xxx and you have to offer considerably above.0 -
My insurer, Royal sun alliance through YBS told me that as long as the property is not 'non standard construction' then it doesn't matter that its listed. Thatched obviously is non standard.
With regards to the price this could be an issue unless they are in serious trouble and need to sell ASAP. Another possibility is that it's been taken on by an agent that prices very low to get interest but in reality they vendor wont accept even the asking price. Express Estate Agency used to do this. The are advertised as offers in excess of £xxx and you have to offer considerably above.
Yes, "non standard construction" is the key - I've no idea of the percentages but there are very many Grade 11 listed houses which ARE of non standard construction. And, as you say, the property the OP is interested in is non standard.
People are generally a bit clueless when it comes to listed buildings. For example, I was talking to someone recently (not a FTB and with a professional qualification) who did not realise the Grade 11 listed house they live in was of non standard construction.
This was because their house is timber framed but was altered in Georgian times and does not now "look" timber framed. And they had not had a problem finding buildings insurance because it was done on the basis of being a standard construction. I was amazed, and hope they never need to make a claim.0 -
Yes, "non standard construction" is the key - I've no idea of the percentages but there are very many Grade 11 listed houses which ARE of non standard construction. And, as you say, the property the OP is interested in is non standard.
People are generally a bit clueless when it comes to listed buildings. For example, I was talking to someone recently (not a FTB and with a professional qualification) who did not realise the Grade 11 listed house they live in was of non standard construction.
This was because their house is timber framed but was altered in Georgian times and does not now "look" timber framed. And they had not had a problem finding buildings insurance because it was done on the basis of being a standard construction. I was amazed, and hope they never need to make a claim.
My house is timber framed. And RSA are happy that this is not 'non standard construction' I suppose it depends on the particular company what they class to be standard or non standard.0 -
Thanks so much for all your advice. I think you have all highlighted how much research needs to be done before we get carried away!0
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