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AIBU?

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Original poster

To buy a bomb site for £1.1 million?

190 replies

Losingmyusername · 05/07/2023 18:56

Just that really. 17th century, listed, 6 bedrooms and a self contained annex with 3 bedrooms (no bathroom or kitchen fitted and no floors).
It was occupied by squatters who have smashed all the windows. Significant damp issues in one room. Horrible interior fittings, and needs bathroom and kitchen fully remodelling, as its previous use was a hostel.
Asking price is £1.4, but I think the work is very substantial and I suspect the survey may show additional issues.
Would need planning permission/LBC for the refit and ideally would want to add a door to the garden.
I think we probably couldn't live in it for six months.
Can afford it if our current place sells for 650 and we get rental income from the annex and have my sister move in as well.
It would give space for all the kids and potential for then to live in the house when they're grown up and we live in the annex.
Only reason I'm even thinking about is because I realised the sums just add up if survey is ok and obviously if I keep my job. I picture being able to restore this local house to its former glory and am carried away with the idea of sweeping staircases and decorated ceilings (right now it has a shitty cheap staircase, no decor and that horrible chip wallpaper). I'm not great at DIY but my husband is and loves it. I already live in a listed building so have some idea what would typically be granted/refused and how to apply.
Am I an idiot to even think about putting an offer in?

OP posts:
Rinkydinkydink · 05/07/2023 21:52

Sissynova · 05/07/2023 21:16

I know right?? No subsidence based on google images? Arm chair experts are getting worse 😂

Show quote history

I’m an architect ( and surveyor ) specialising in listed buildings of all ages.
I can spot these things quite easily.
No armchair expert here

MsRinky · 05/07/2023 21:54

I walk past there most days :) It's been empty a long while, hasn't it? It could be fabulous but it sounds like you don't have enough ready money to do it justice.

Marinerscove · 05/07/2023 21:55

After reading the headline, this is not the thread I was expecting! 😂😂

Ellmau · 05/07/2023 22:06

It has potential but would need much deeper pockets than you have, OP. It doesn't sound financially viable for you.

dontbenastyhaveapasty · 05/07/2023 22:11

I’m a historic buildings advisor. If the building was sold to a charity by the local authority for £1, it’s probably been compulsorily purchased from its previous (very bad, possibly criminal) owner, and there will almost certainly be major, major problems with it.

The tale about squatters may not be entirely true - that may have been the work of the previous owner, trying to get the building to “catch fire” or “fall down” so he could get a nice profitable housing estate on the plot…. I’ve seen it more than once, sadly.

There will almost certainly have been unauthorised works carried out that as new owner you will bear liability for and have to undo, to a schedule dictated by the local authority.

I can see you love the house, but I’m afraid you are probably an order of magnitude out in terms of the money you’ll need. Sorry.

Leftbutcameback · 05/07/2023 22:11

The listing is the biggest issue. Having to get all the works and material approved by a council officer who is likely to be massively overworked. It means the timescales and budgets are not in your control.

bumblebee2235 · 05/07/2023 22:18

I would if I had the opportunity. Doesn't come around often and if your heart is in the place it is worth it. You could spend the money on a new place done for you. But it might never have the soul, the quirks and that connection. The satisfaction when completed of restoration and tweaking for your own family is a wonderful idea. I also love sweeping staircases with a grand hall 🥰 If there is currently no floors id be tempted with a sweeping staircase and a double height ceiling in the hall haha

eurochick · 05/07/2023 22:22

dontbenastyhaveapasty · 05/07/2023 22:11

I’m a historic buildings advisor. If the building was sold to a charity by the local authority for £1, it’s probably been compulsorily purchased from its previous (very bad, possibly criminal) owner, and there will almost certainly be major, major problems with it.

The tale about squatters may not be entirely true - that may have been the work of the previous owner, trying to get the building to “catch fire” or “fall down” so he could get a nice profitable housing estate on the plot…. I’ve seen it more than once, sadly.

There will almost certainly have been unauthorised works carried out that as new owner you will bear liability for and have to undo, to a schedule dictated by the local authority.

I can see you love the house, but I’m afraid you are probably an order of magnitude out in terms of the money you’ll need. Sorry.

One of the photos show it was marked as a youth hostel on a map and a poster has found the YHA listing. So I doubt any criminal wrongdoing is in the building's recent past.

But it is going to cost a shedload of cash to make liveable.

bumblebee2235 · 05/07/2023 22:24

Apply for grand designs!!

Endlesssummerof76 · 05/07/2023 22:29

geoger · 05/07/2023 20:50

Looks beautiful but I think you need to budget at least 750k to fix it up - the roof and windows alone will probably cost 200k minimum. You’d need an army of tradespeople who know the laws surrounding listed buildings and you’d need a fab architect to get it back to its former glory.
Much, much, much more importantly is the location. I don’t know the area but if I was spending that much I would want more land, my neighbours to be further away and I wouldn’t want that little road being the only access to the church going past my front door.
I think you can get way more for your money elsewhere

The close proximity of neighbours is the only thing that would put me off about this project. It looks like it would be a lot of fun for someone with the cash to do the work properly. If you need to borrow, it's far too risky.

Novemberoflastyear · 05/07/2023 22:31

tt9 · 05/07/2023 20:10

also is that a church + graveyard next to it.... that would freak me out ...

I live next door to a churchyard, it's lovely and peaceful ✌️

mondaytosunday · 05/07/2023 22:38

Six months? Not unless you want to live on a building site. Planning and listed building consent will take months. You will have to rent unless you have family nearby as you must be on site most days and you can't rent out the annex with work going on.
It does sound like a money pit - as PP says upthread take any quote and double it - time and money.
But I love renovating, and if I had pots of money it sounds like a great project.
Not sure about the idea of your kids living there as adults though - that does sound like a pipe dream!

NellyBarney · 05/07/2023 22:39

How much money do you have to restore it? Damp issues, new windows? If it needs rewiring, you'll need to replaster and if there is panelling bespoke repairs to the woodwork. How big is it? I'd budget at least 1k per sqm for a restoration, and with old houses like that, you are likely to spend more on renovating than you ever get back.

SirKurtBored · 05/07/2023 22:41

It sounds full of ifs - I would keep it as a pipe dream and move on

CuriouslyDifferent · 05/07/2023 22:44

You lost me at listed and building site.

Too much hard work, ticking boxes left right and centre. everything will have to be approved, everything will be three times the price, and even then, I’ve seen it to badly wrong.

I love an old place, character. But I’m a multi millionaire and it’s just too damn expensive and wasteful.

Creative34 · 05/07/2023 22:53

No chance. I’m mid renovation now and we’ve been able to do most of it ourselves.

Enjoy your children - if you take this on you’ll be consumed by the project (both with jobs to do and the stress/anxiety that accompanies it and dealing with contractors)

NellyBarney · 05/07/2023 23:01

We did up a very unloved period house, 8 bed, Queen Anne. It needed gutting, collapsed floors, collapsed ceilings. We lived for 1 year in one room on site, no hot water, no heating, no kitchen. We had a toilet and a cold water sink. It was very dusty. After 1 year we got our bathrooms and bedrooms, after 2 years a kitchen. Still loads to do and it is hard knowing that for next decade every weekend/ annual leave is spend painting/repointing/gardening and of course constant saving for new roof, constant rotten window repairs etc. It was exciting painting the first room - but there are over 20 rooms and huge staircases/endless corridors, so I'm so fed up with painting, and there is still soooo much to paint. It is lovely though to live in a large old house but heating alone would bankrupt us so we hardly heat at all. If we'd heat the whole house to 20 degrees we'd pay about 15 to 20k/year at current prices. We only heat bedrooms and kitchen for 1 hour morning and 2 hour evenings to 16 degrees and pay about 2k for heating and 1k for electricity/year. I am not regretting it, but you need to be realistic about your budget before you start. Every survey on an old house will miss things and there are always unexpected things that creep up.

BringOnSummer2023 · 05/07/2023 23:12

Not read the whole thread but even doing up a three bed terrace with building work and renovations takes longer than 6 months and that's if you have the plans in hand and a decent builder with availability. That's without it being listed. It's be two plus years before anyone can inhabit it. It screams money put. If you have the money all good but be prepared for a long game and you will need deep pockets.

lanthanum · 05/07/2023 23:12

Be very careful. I know a listed building which was bought by a couple who started doing some of the renovation that was needed. It turned out there was more needed doing than anticipated, and years down the line it is falling into ruins. I don't think they could afford to do the work needed, and it's probably now impossible to sell because it's in such a state. The council took them to court to get them to do work necessary for safety, but that's all that got done and the scaffolding has been in place ever since. They also got fined.

longtompot · 05/07/2023 23:14

It could be an amazing house all done up but I think you'd need a very healthy budget for all the works. The only downside, aside from the price, is how close the railway line is. Is it a main line?

FeelingwearyFeeelingsmall · 05/07/2023 23:30

We have a holiday flat in a listed building. It's needed quite a bit of work. Doing one tiny job (replacing a rotting window) in there is more hassle, paper work and expense than any major project in our 90s built home. For that reason alone I wouldn't contemplate this.

But you say you are used to listed buildings so if you think it's worth it - go for it!

EggWind · 06/07/2023 00:21

As somebody who works for a construction company I'd say be very thorough with your surveys/investigations. Significant work needing done can snowball very quickly and eat your whole budget.

altmember · 06/07/2023 00:30

However much effort, time and money you think it needs, double it. And then double it again due to it being listed. If you can still afford all of those three things at 4x your initial estimate then it's probably worth going for it. I'm all for a do-er upper or a renovation project, but this one sounds like a basket case, and a large one at that.

alwayscrashinginthesamecar1 · 06/07/2023 02:17

Unless I had very deep pockets I wouldn't touch that with someone's else's barge pole.

DeliciouslyDecadent · 06/07/2023 09:13

Rinkydinkydink · 05/07/2023 21:49

Yes
I can spot these issues easily.

Show quote history

Oh don't be silly.

A lot of houses very close to me have subsidence and it can't be seen without a survey.

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