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Original poster

Could you fix this house with £50k?

49 replies

Bettiedraper · 30/04/2018 12:51

www.madisonoakley.co.uk/property/dorset-street-oldfield-park-bath-2/

Considering whether it would be a good investment/rental…

OP posts:

escape · 30/04/2018 12:55

I think it's do-able yes.
If it's an investment to rent out - then it could be quite the bog standard re-fit.
Obviously this is without any major subsidence issues / roofing etc - but even so that's not far off the budget mark.
My experience is based purely on being an avid HUTH fan and property obsessive.

Bluntness100 · 30/04/2018 12:56

You'd have to get a full structural done. There could be many problems with that house, from the electrics on and you may struggle. It's in a right mess and there is no way to know what is cosmetic and what's a money pit just buy looking at the photos.

Personally I'd suspect damp, new boiler, new electrics, new kitchen, bathroom, new doors, new windows, the lot. It's in a terrible state.

Kannet · 30/04/2018 12:56

Honestly I think you would be pushing it, unless you know you can do a lot of the work yourself and in a reasonable timescale

Sidge · 30/04/2018 13:01

I don't think your £50k would go far there.

The roof looks poor, the guttering is full of greenery probably causing the damp. Structurally it may need a lot of work as the walls look shocking. There's also lots of what look like bodge-fix sockets so I expect the electrics are crap.

A total gutting is needed I imagine, it could be great afterwards but I expect you'd need about another £25k on top of that to do a decent job.

SoupDragon · 30/04/2018 13:01

The part with the shower room in it looks like it might need knocking down TBH. I think that would wreck the budget.

PancakesAndMapleSyrup · 30/04/2018 13:06

Nope. Your 50k wont stretch far enough imo. More like 75-85k. You need a full structural and the roof would concern me first to keep it watertight.

caperberries · 30/04/2018 13:07

Looks like the sort of place that is usually advertised 'for cash buyers only' - because securing a mortgage could be very tricky

unintentionalthreadkiller · 30/04/2018 13:09

No I don't think so!

whatsthecomingoverthehill · 30/04/2018 13:12

Depends how good your trade contacts are and how much you are willing to do yourself.

shopaholic85 · 30/04/2018 13:12

Not sure whether it's doable for £50k, but the area is very popular with students or anyone commuting to Bristol, so would be very easy to rent out. PM if you need recommendations for trades people.

Furano · 30/04/2018 13:13

Fuck no.

fairylightsdown · 30/04/2018 13:17

Looks like structural problems on the extension at the back. I assume you are paying cash and not getting a mortgage?

MarshaBradyo · 30/04/2018 13:18

SoupDragon · 30/04/2018 13:20

The more I look at the rear, the worse it gets.

TawnyPort · 30/04/2018 13:20

No, its clearly riddled with damp and probably needs all new wiring and plumbing, and quite likely a new roof.

headintheproverbial · 30/04/2018 13:23

I don't think so. I know that on Homes Under the Hammer developers seem to do these things for 10k and a wish and a prayer, but I don't think it's realistic.

Structural things, complete rewiring, new windows, plastering the entire property, new roof, bathrooms, kitchen, floors, not to mention all the decoration. I'd say 100k is more realistic.

sprinklesandsauce · 30/04/2018 13:29

It states that they think it is not mortgageable, so presumably you are a cash buyer OP. Have you been round with a builder and got quotes for repairs?

If you are able to do some of the work yourself, then it might be doable, plus as said, basic fittings if it is for rental would keep the costs down. But tbh I don't think £50K would go far, unless you are in the trade.

I was a bit at the price for that state, but then realised it was Bath.

jkl0311 · 30/04/2018 13:29

No i don't think so, I wouldn't bother with it. Have you got any experience in this? This is not a dip your toe property.

DairyisClosed · 30/04/2018 13:30

I doubt it.

parkview094 · 30/04/2018 13:59

Quite probably, depending on the structural condition.
It's not clear from the photos how the bathroom extension is constructed. If you need to get into building works, then you're probably going to be stretched.
I don't see what the issue is with the roof that others see, maybe I'm missing something?
You'd need to ascertain what is causing all the damp. The guttering is in a poor state of repair and there seems to be a missing down-pipe on the back. There also doesn't appear to be any ventilation in the blocked-off chimneys, so if you're lucky - fixing those issues (all relatively inexpensive) that will cure the damp. If there are other causes, rectifying them may blow your budget.
Similarly, has the damp caused any problems to the floor joists? If the timbers are still solid, you'll be fine, but if there is any rot - your budget may be in trouble.
New Kitchen - £7k, Bathroom, £7k, New CH, £5k, Electrics, £5k, Redecorate 5 rooms as £2k@ea - £34k 10% contingency = £37k. That leaves £13k to repaint and potentially re-render the exterior, to take down the shambolic garden structures, sort out the garden. Doable unless you need to addre any 'sinister' issues.
Despite how grotty everything looks, it has had CH installed and it has been rewired in the last 30 years, so I would guess it has been lived in up until relatively recently, but not cared for.
A local builder would likely accompany you on a viewing to give you a more accurate estimate...

Shiftymake · 30/04/2018 14:18

The roof looks like a problem as it is sagging, there is clear issues with damp as there is a fair bit of mold and the rest of the structure is a joker which could go either ways. Find out first if it is structurally sound before putting money into this and if the roof need fixing.

50k to just do up the inside is more then enough, it's the unknown that could blow your budget.

SoupDragon · 30/04/2018 14:59

I thought the beam in the roof looked bent in the loft picture but couldn’t decide if it was a fisheye lens instead.

flissfloss65 · 30/04/2018 15:09

Although a mess that is priced very cheaply for Bath. It’s going to full and final offers so imagine it will go quite a bit above £200k. That would therefore eat into your budget making it too expensive.

caperberries · 30/04/2018 15:36

Completely OT but I'm amused by the list of names & jobs of original residents of the street - is this a Bath thing? Or peculiar to this particular agent? I've not seen that before.

Original poster

Bettiedraper · 30/04/2018 17:13

Big thanks all for all the comments! It’s been extremely helpful.

This would be a first project and I wouldn’t be able to do any of the work myself.

caperberries fairylights
Yes the listing says it’s not mortgageable due to there not being a working WC. My friend lives nearby and says that someone lived here until very recently(!).

@shopaholic85
Thanks. Can you recommend any builders in Bath? Aside from this, I’m also looking to do a loft conversion/raise the roof on the property I’m living in.
(Incidentally, HMOs are prohibited in this area so it would have to be rented out as a family home.)

sprinkles
Haven’t been round with a builder as I only spotted it today.

jkl0311
No experience—this would definitely be a toe-dipping project!

flissfloss65
I hadn’t thought of that TBH—I was hoping it might go lower. Naïve I guess!

caperberries
Listing the list of names & jobs of original residents of the street is not a Bath thing AFAIK—it seems to be something only this estate agent does.

OP posts:

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