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How much would you budget to refurbish this house?

(25 Posts)
dilapidated Fri 14-Apr-17 11:53:29

Victorian terrace which hasn't been touched by the previous owners in 70 years.

Floor boards are rotten, damp throughout.
In addition to that it needs minimimof the following -

Re-wiring and new consumer unit
New plumbing and boiler
Plastering throughout
New bathroom (moved upstairs to bed3)
New kitchen (extended to existing bathroom)
New windows
New front door
Total strip out of 100ft garden which is just 6ft high brambles
Re-rendering and decorating of the front of house
Full decoration inside plus slight reconfiguration of rooms
Repave front garden / turn into driveway

How much would you guess that costing to get the house to a liveable state?

dilapidated Fri 14-Apr-17 11:53:56

Pictures -

TheFirstMrsDV Fri 14-Apr-17 11:55:31

Including contingency I would want 50k
Depending on where you live and what standard e.g. bathroom, kitchen.
How big driveway is etc.

You could easily spend double that.

TheFirstMrsDV Fri 14-Apr-17 11:58:19

I am not totally clear on how much structural work is involved. If you are moving walls etc you need to be prepared in an older house. Also the damp means you could be looking at new joists throughout as well as floor boards.

It sounds like a bit of a money pit. Sorry.

dilapidated Fri 14-Apr-17 12:03:40

I think it's likely that it will be joists.

The house has had burst pipe issues which has left floorboards that you can't stand on without falling through.

I was just surprised at the asking price as it's gone on the market 2 days ago.

Houses on the row are worth between £300-340k depending on size of driveway and extensions.

This one wants offers over £250k,
At that price i just don't think you could ever spend little enough to make it a viable option.

What sort of person will end up buying it? A developer maybe?

Shortdarkandfeisty Fri 14-Apr-17 12:05:32

At least £50k, more if you uncover bigger issues while renovating.

TheFirstMrsDV Fri 14-Apr-17 12:07:07

I expect someone who has a team of builders and trades on tap will take it on.
They can keep their overheads down and get it done cheaper than private buyers.

TheFirstMrsDV Fri 14-Apr-17 12:07:56

Sorry. When I said 'you need to be prepared...' I meant to add 'for uncovering issues' grin

PickAChew Fri 14-Apr-17 12:10:18

It sounds like a virtual rebuild inside a brick shell is needed. Probably £50k before fixtures and fittings.

PickAChew Fri 14-Apr-17 12:12:48

And nope, it's not for amateurs! I doubt you'd get an ordinary mortgage on it, for a start.

NapQueen Fri 14-Apr-17 12:15:45

Id avoid. You will be putting a bathroom in which is only accessible through bed2?

dilapidated Fri 14-Apr-17 12:19:20

Most people on the row have altered the upstairs layout so that there is a corridor between the stairs and bathroom creating privacy for bed 2.

Some people have left it and converted the loft so that bed two has an ensuite, and then bed 1 has own bathroom too.

But this obviously adds more to the cost of refurbishment.

MovingOnUpMovingOnOut Fri 14-Apr-17 12:19:29

Depends where it is as labour will be your biggest cost. London area £100k.

Elsewhere about £50-80k.

MovingOnUpMovingOnOut Fri 14-Apr-17 12:20:24

I'm assuming you project manage yourself otherwise add on another £20k

silkybear Fri 14-Apr-17 12:29:51

I would want it for no more than £200k with a £60k refurb budget if the general asking price for the street is £300-340. I think most developers would be put off as there is not enough profit in it and the layout is less than ideal.

dilapidated Fri 14-Apr-17 13:06:54

That's more like what I assumed it would go on the market for.

Just to clarify - I'm renovating another property on the same road.
Have been in this house a few weeks ago before it went on the market so was intrigued at what it would go on for knowing the state of it.

It's the cheapest house in the town now, but can't really be classed as a 3 bed because of the layout.

A younge couple (mid 20's) have just rocked up with the estate agent for a viewing.

I can imagine they will be in and out in 5 minutes.

The agent hasn't put any internal photos or garden photos online so I guess viewers are just going on the estate agents words for now!

Good luck to whoever buys it though

silkybear Fri 14-Apr-17 13:17:51

They sure as shit will need it wink

isambardo Fri 14-Apr-17 13:42:44

We've done very similar, just coming to the end! Ballpark £40k if you are doing lots of diy, obviously more if you don't. That's windows, doors, floors, ceilings, decor, attic conversion, new bathroom and kitchen, changing flat roof extension to pitched roof, another small single story extension, patio outside and some garden work, new water and gas connections. Managed to get a grant for new central heating but I don't think they are available now. Took 12 months to get it in a liveable state.

kingjoffreyworksintescos Fri 14-Apr-17 13:55:17

I am in the se so labour is premium but without looking at it myself I would expect to pay around 80-100k to get the list you have done , your cost would of course greatly depend upon how much input you were prepared to put in and what standard of finish you wanted .
It always takes longer and more money than expected

dilapidated Fri 14-Apr-17 14:17:38

Yes SE, just outside m25

Sunnyshores Sat 15-Apr-17 19:35:19

Youd be very lucky to get that list of work done for under £60k. You could spend £100k without trying too hard.

dilapidated Tue 02-May-17 17:17:06

I just found out that the house was bought by a young couple for £265k.
Hope they manage to do it. It's a big project

FrogFairy Tue 02-May-17 18:11:16

Best of luck to them.

Quite aside from the legitimate costs of the refurb, I hope they find good workers who won't let them down, or rip them off and end up costing them extra £££

Lucisky Tue 02-May-17 18:38:09

I would say 100 - 150k for builders, less if doing the work you self obviously. Not a task I would fancy. Total money pit.

Gingernaut Tue 02-May-17 18:42:52

About £70k-£100k depending on what structural horrors you might find.

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