To consider buying a house in need of "complete modernisation"?

(11 Posts)
katamino Wed 15-Mar-17 19:47:01

We're house hunting and an agent has suggested we view a probate house, hinting that the sellers would be willing to accept an offer well below the asking price. It needs "complete modernisation" to the extent that there are no internal photos on the sales info. From the floorplan it looks like some reconfiguration of rooms would be needed, and we would want to extend it too. It also has quite a poor EPC score with lots of potential to improve. However, if all the work was done then it has the potential to be our perfect family home.

We extended our current house gradually over a few years, and found the experience very stressful. I would only be willing to take on a "project" if we got an architect to design it all and a project manager to manage it all. Does anyone have experience of doing that sort of thing? Does it come as a package and if so will I find it by googling "property development" or something else? And how does the pricing for it work - a percentage of the total development? If we found such a company would it be unreasonable to ask them to look at and quote for work on a house we hadn't even bought yet?

contractor6 Wed 15-Mar-17 19:51:28

If you do it you end up with a house which is perfect for you, without self building of course.
We looked at similar but house didn't work in the end.
Find a builder to project manage it all.

MyKingdomForBrie Wed 15-Mar-17 19:52:17

Not unreasonable to get quotes, I would ask for recommendations for local companies, go for long standing and reputable.

I would only do this if I had plenty of spare cash to throw at it right away.

'Property development' more refers to building new houses I'd think.

MrsTwix Wed 15-Mar-17 19:58:25

Could you afford to rent for a couple of months while any work was being done?

It's worth looking at least.

SquidgeyMidgey Wed 15-Mar-17 20:01:37

No idea what your budget is but estimates quickly to see if it's still in range. If you're having an architect and a project manager if will be expensive. Architects can recommend good local people to you. Factor in renting elsewhere too while its done.

Badbadtromance Wed 15-Mar-17 20:01:50

I did just that. Was also a private house. Slot of stress later it's doubled in value and is perfect for me and kids

SquidgeyMidgey Wed 15-Mar-17 20:02:08

Get estimates, sorry.

MatildaTheCat Wed 15-Mar-17 20:04:21

Of course you can ask a builder or architect to look and quote for their services including project management.

I would only consider this if you can afford to live elsewhere during the works which will be far longer than a couple of months. And do you have the energy to be making hundreds of decisions about fixtures and fittings etc for months on end. Plus, naturally, the budget?

Get several opinions. Usually a proper doer upper will sell for a good price and have a lot of interest. Check early on there are no major difficulties such a badgers in the garden ( as has happened to some relations...its rendered the house almost impossible to sell).

MatildaTheCat Wed 15-Mar-17 20:06:15

Sorry, forgot to say you cannot expect the project manager to do every single thing with no input from you. You need weekly site meetings at the very least and some idea of what you are talking about.

It's quite a sexist environment, too so a robust attitude is required.

madeleinecreek Wed 15-Mar-17 20:15:40

I think what you're after for quotes is a "design and build" company.

Oblomov17 Wed 15-Mar-17 20:28:45

Are you sure you know what the EA means?
Round here there are many many houses on the market that are listed as requiring 'total modernisation'.
They are x council houses, very very well built in the 50's and 60's. so no central heating. But a hot air system, thing. Not ideal but you could move in and live very comfortably there (many old people currently do live there nicely) until central heating can be installed.

Might require new wiring.
Kitchen, bathroom, new carpets throughout - those are pretty standard.

Very rough breakdown:

New central heating system £7k
New bathroom and downstaurs toilet 6.5k
New kitchen £12k (including all appliances)
Rewiring £4.5k
Re plastering £3k
Decorating £1.2k
Replacing skirting £1k
Other carpentry (replacing a few doors/shelves) £1k
2x reclaimed fireplaces £1.2k
New carpets £2.2k
Garden clearing and basic landscaping £5k
Miscellaneous (curtain poles/door knobs/door locks/light fitting etc) £2k+
Damp proof course £600
underfloor heating in kitchen £800

And much of that could be cheaper, if you chose?

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