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Original poster

To ask if any estate agents can please advise me on selling on a destroyed house

97 replies

Toomuchtooyoung01 · 20/04/2021 20:03

I'll keep it brief - started renovating our house (3 bed semi, Surrey) its gone really wrong and OH has downed tools and we and our kids are living in a building site, have been for some time. Cant afford to get professionals in to do it. Even if we were to remortage, there is so much to do and I genuinely don't think OH has it in him to do it any more.
Can any estate agents out there advise how much I could expect to get if we were to try and sell the house as it is, either to a builder or a couple who were willing to take on a project? Am absolutely at my wits end.
Zoopla currently estimates £515k, with £490k being "low" and £525k being top end.
Thankyou.

OP posts:
Tooshytoshine · 21/04/2021 17:12

I have no advice, but just wanted to offer sympathy and virtual tea.

You need to cover the mortgage, your initial equity and anything else is a bonus. I understand asking on an anonymous forum rather than the more obvious asking an estate agent IRL. I would feel sick to the stomach about this and it sounds it has been a living nightmare.

Just end it, sell it, move somewhere cheaper with more realistic expectations in what you can achieve together. Hope your DPs mental health improves and you can get back to being a functioning family soon

Original poster
Toomuchtooyoung01 · 21/04/2021 17:15

Thankyou for your kind words xx

OP posts:
randomlyLostInWales · 21/04/2021 17:23

You need to cover the mortgage, your initial equity and anything else is a bonus.

I agree - we ended up sellling our first house for less than we bought despite a whole load spent on windows, door, wiring, heating system, new bathrooms decorating but we'd paid the mortgage for years so we did cover the mortgage and had deposit we put in for next place - worth it for us to move on.

See what the estae agents say - and look to buy done in a cheaper area or with smaller property.

Unsure33 · 21/04/2021 17:32

It depends on where you are and the equity you will come out with . Plus moving is expensive. But in our area you can move 30 mins drive And save about 150000 on a house . It’s all about location .

MumW · 21/04/2021 23:20

that new builds are apparently thrown together and rubbish
Oh, the irony!

user1471474462 · 22/04/2021 00:22

I wouldn’t sell it if you have any other options at all.

Can you do the following to release money-

Borrowing against equity
If you don't want to move home or downsize, you can remortgage to borrow against the value contained in your equity. This works by taking out a new mortgage that is larger than your existing mortgage.

Personally I would do the above if possible, release the money you need, and get quotes for the work to be done. It’s amazing how quickly a home can be turned around once you have the professionals in.

It’s definitely worth getting quotes at the very least.

I’m sorry your having to deal with it all, but you may move and find yourself having to do work, so maybe this will be less stressful.

KatySun · 22/04/2021 07:07

Yes, I think if there is any chance of borrowing against the equity to get the work done, I would look at that because you will save all the moving costs and hassle. To me, it does not sound too horrendous what needs done, aside from the fact the windows have been stuffed up!, the problem is that you have a depressed husband who has given up and two small children so you cannot do it yourself, and even if you could, things like plastering are better professionally done. The main priority seems to me getting the upstairs habitable.

However if you are at the stage where you just want to walk away, then good luck with the valuations. Just do not buy another do-er upper, what exactly would be the point of that?

ScaredOfDinosaurs · 22/04/2021 08:24

@KatySun is right. You should look at what it would cost to get it liveable and compare that to what you'd lose by selling in it's current state.

The key here is how much equity you have. Current realistic sale price minus outstanding mortgage = equity.

You then need to make a decision based on that. If homes have gone up in price so much since you bought it there is a good chance that you have a large amount sitting there. From the figures you mentioned, if homes on your Street are currently selling around £500k and you bought it at £220k less - £280k or so, assuming that you put down 10% deposit of 38k and nine years of payments... there's a good chance you have somewhere between £275 to £300k equity in there.

Get the estate agent valuation, get quotes for the work, then talk to your bank. The work you describe might easily run to the low tension of thousands. You should easily be able to borrow that from your existing equity.

ScaredOfDinosaurs · 22/04/2021 08:25

Sorry, that should say Low tens of thousands

SchrodingersImmigrant · 22/04/2021 08:29

Zoopla estimates are absolutely not accurate to actual value and sales prices in my experience

Saltyslug · 22/04/2021 08:29

The anti depressants will take a few weeks to kick in. You might find your DH has a second wind to hammer through tasks in a month or so. Either way it’s positive for you and the children to bring this to a close this year. If you have to move a new build or a property built 1990s onwards would be the only thing to agree to based on your past experience

Saltyslug · 22/04/2021 08:31

Also get a quote to finish all the work and look into remortgaging. You can opt to sell afterwards

Original poster
Toomuchtooyoung01 · 22/04/2021 15:13

Thanks for all the replies. He's more or less said this morning that he doesn't want to complete work on the house and just wants to sell up. He said even if we had tradesmen in that its "impossible" to live in the house while the work is done so we would need to factor in the cost of renting somewhere. Think his mind is pretty much made up.

OP posts:
ExitChasedByABee · 22/04/2021 15:26

If you ever get another doer-upper, please don’t bite off more you can chew. It’s better to work on it gradually instead of trying to get things done in one go and then get overwhelmed by the enormity of the task. How destroyed is the house?

CuriousaboutSamphire · 22/04/2021 15:46

What do YOU think, OP?

Do you have the finances to get trades in to finish the house?

You are already living in it, have been for years, so your DHs depression (probably both a cause and very much affected by this) won't change because the house is being worked on.

You can't let a rudderless person steer your ship!

PicaK · 22/04/2021 16:32
Flowers He's adrift and trying to run away. Can you pack him off to eg his mum's while the anti-ds kick in? Think about your kids. Borrow more and get it done. Or get EAs in next week for valuations.
TheresNothingIWantMore · 22/04/2021 16:38

Maybe a bit of an odd suggestion but have you thought of trying some shows like DIY-SOS?! you sound like exactly the sort of family they usually help and the worst they can do is say no!

Worldgonecrazy · 22/04/2021 16:39

You absolutely can live in a house whilst the trades are in. It sounds like he is making excuses and doesn’t want the constant reminder of what he sees as a failure.

I would proceed carefully. I think that you will have to sell but your DH will be unhappy wherever he moves to, another doer upper will not work, and a modern house will be another reminder.

Hope you find a solution.

Worldgonecrazy · 22/04/2021 16:40

Ps new builds these days are a lot better than the new builds of the 1990s. I’ve been very impressed with the two I’ve seen recently.

Bluntness100 · 22/04/2021 16:45

Can I ask, and you don’t need to say, but why did he rip it apart like that upstairs and then just down tools?

shivawn · 22/04/2021 16:50

Your husband needs to grow up a bit. Why can't he finish the job? Is he just unmotivated or is there genuine reasons why he can't? My husband had almost no DIY experience when we bought our house but he has learnt so much throughout the renovation process and can tackle almost any job now. Its honestly amazing what you can learn on YouTube.

Devlesko · 22/04/2021 17:22

It depends on whether anyone could get a mortgage on it. As long as it has a kitchen, Bathroom you should be ok.
Otherwise it's an auction job, so I've been told.

VikingsandDragons · 22/04/2021 20:18

Get it valued, see if you can remortgage so you can pay to get it finished. I would have killed your husband by now and I certainly wouldn't even consider another doer upper after your children have spent their entire lives in a building site, your husband clearly doesn't have the skills to do up a property himself so why he thinks they would magically appear in a different postcode is beyond me.

LeroyJenkinssss · 22/04/2021 20:26

Are you not angry? I’d be furious with my DH if this was our life and he just downed tools! Surely with all the fees etc you’d still be better off paying someone

Original poster
Toomuchtooyoung01 · 22/04/2021 20:49

Oh I am absolutely livid with him. Even more so since he has never apologised.

OP posts:
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