Anyone got a crystal ball? Deciding whether to keep going or pull out!

[ThePartyArtist]

First time buyer nerves are getting to me!

Found a house we like which ticks everything on our wish list. We had to increase our price from our original offer, but eventually had it accepted.

(Expensive) survey results are just back and it needs rather more work than we thought. Due to its age we expected some work but there seems to be three major things involving the roof, chimney and walls - i.e. all serious structural stuff.

Should we go through with it or pull out and hope something better comes along? We've said all along we don't want a big project and I am scared this is one. On the other hand, we've done a LOT of viewings and this is the only one we liked enough to offer on - so not sure when we'll find another one that is as good.

We don't have any great urgency as renting a nice flat. But we'd like to get our own home fairly soon to start a family. We are first time buyers and depending on final cost could even be cash buyers.

The area we're looking at is extremely popular and relatively expensive in our city.

I know it's impossible to say really, but do we stick with it or move on?

Sometimes what is meant in a survey can need some deciphering - things can sound worse than they are. Might be helpful if you posted the actual text.

I agree surveys can appear frightening so you need to determine costs associated with the works.Once you know the costs you can determine it it's worth it.

I know as ftb projects are scary but if you have the funds then my advice would be to go with it especially if it's a long term prospect.I wish I had took on more projects early on in my house buying history.You learn lots and then build confidence plus you get the house as you want it.

What area is it in? Are you likely to

If the work that needs doing is really serious and you are unsure about buying, it is possible to try and knock the offer a bit down. After that tha seller can accept or not, but if you are about to walk away it's worth a shot. But keep in mind that any house needs work done. If it is 2K or 20K that is the question. It would be easier to give advice if you state what kind of isses the house has,

Depending on the price of work and price reduction I would continue with this purchase. as it sounds as if you really liked the house, anything else may involve more compromise or chain problems etc.

Roof and chimney work isnt difficult to organise and wont inconvenience you as you live there. There are plenty of companies that do this work, but new roof and removing chimneys (if this si whats needed) is expensive. The seller should certainly negotiate on price if this work is needed urgently (as opposed to general maintenance requirements).

What is the matter exactly with the walls?

(draws sparkly shawl over head, polishes crystal ball, waves scented smoke around)

just a thought - traditionally people put their houses on the market after Easter, so you may find that more properties appear next week.

but I agree, first thing is to get estimates of what the work would cost and how long it would take.

there is ALWAYS another house.

Thanks all...

Lots of info to decipher in the survey, but the bits that are concerning me are:

Chimney stack (rated red):

1. Upper courses of brickwork should be rebuilt, including replacement of cement flaunting and resetting of chimney pots.
2. Flashing where the masonry adjoins the roof slates should be replaced, including installation of a lead soaker and replacement of damp affected adjacent timbers.
3. The stack is shared (i.e. I'd have to negotiate it with neighbours - and from what I remember their house looked pretty run down).

Roof (rated amber):

1. A major overhaul is necessary. If you consider to occupy for a significant amount of time you should consider full re-roofing.
2. No secondary barrier of roof felting between the timber battens and slates. This should be reinstated.
3. Ridge tiles should be removed and rebutted.
4. Cement fillet below roof slates should be repointed.

Main walls (rated red):

1. Occasional worn and open joints were noted which should be raked out and patch re-pointed.
2. Horizontal crack suggests wall ties are corroded.

We do realise any house will need some work, however we've said from the outset that we don't want a project. We could use more of the savings and get a mortgage on top and buy somewhere more expensive than this place.... but we did decide we really like this one as it ticks so many boxes, and was the first we liked enough to offer on, so it also feels like a good one to let go of...

When you say you dont want a project , although quite serious and expensive, this work is all external and will be easy to get quotes for. Not as difficult as organising interior work, or as many decisions needed or mess/disruption. I just wouldnt want you to lose this property bcause you thought it would be too difficult.

That said, it is a lot of work and you would need a substantial discount - maybe £10k. Before you waste time and effort on getting quotes, Id test the water for such a discount. If the vendor is unwilling anyway, then you can walk away without regrets.

I would be scared to be honest, wall ties and all. I would only buy it if it was a long-term home.

The roof would not worry me, overhaul until replacement necessary, chimney stack not a big worry, but could be done as part of roof, as scaffolding will be needed for both.

The wall ties would be my big worry and I would want to know the full implications and cost for the work.

Get a rough quote for the roof. Might help you to decide.

My survey came back and said wall-ties might need replacing. I got a specialist wall-tie replacement firm to come and do some test drilling, and wall-ties were fine. This cost...nothing :)