Am I being unrealistic with renovation costs?

[dinglethedragon]

So, downsizing, looking to buy a 2-3 bed bungalow - have found one that could be perfect but is stuck in the 1950's (awaiting grant of probate) it's also very pricey for what it is, but has spectacular views and garden.

I would have 50k to use for renovations (assuming I get what I want for mine) I can do the cosmetic stuff myself.

The green bathroom needs to go, currently no shower at all (no, it's not a nice quirky green bathroom, I could live with that !) it's poorly laid out and could also fit a shower (would REALLY like to go for a wet room)

The kitchen is 4.6x 3.3m and the lounge is 5.5 x 4.7m both overlook the garden and I want to knock them through into a country kitchen / living area leading onto the garden. I'm not bothered about fancy named kitchens, IKEA will do fine!

In an ideal world a garden room would be added on the back.

It's decades since I had any major work done on this current place so am really out of the loop. Am I kidding myself that I could achieve what I want with this one for 50k? (SE England) I'm viewing it on Tuesday so want to have a hard sensible head on before I risk falling for it......

Having done some major house work about 3 years ago, budget is very easy to be gobbled up. I'd have a look at council planning online to see if other houses in the street have took down the same wall - these articles will often advise of cost etc. 50k will go a long way, but be prepared it might not give u the finish u imagine

Yes - loads of them have taken down that wall - there's one further down the street, with an even nicer garden tbh but their renovations are not to my taste. Very VERY modern and shiny and £75k more than this one!

It all depends on how stuck in the 50s it is. Check if it has a decent boiler or any central heating at all. Are the plug sockets on boxes on the skirting and does it have old light switches or has it been rewired more recently? Does it need new windows throughout? How is the damp proofing and insulation? I always find the kitchen and bathrooms are a fraction of the overall hidden renovating costs.

We've just bought a home that needs modernisation and have recently had the builders round to quote. We're doing similar work to yours, but cost may depend on lots of other factors that bumped up the price for us:

Are you changing the layout of the kitchen or replacing like for like? Same for the bathroom? Will you need extra radiators/plug sockets added in when you open up the space? Will your flooring need to be replaced? Will your electrics need to be updated? If you're moving your boiler, is it old; in which case, will it survive the move? If you're knocking down a supporting wall, factor in building control and structural engineering costs. Does any wallpaper need to be removed as walls might require replastering (expensive!)?

Basically, if you're doing any adding to/rejigging of layout, my guess is that 45k would see you through a kitchen and bathroom refurb. (I'm in SE England too)

I'd say you will be able to do kitchen knock through, bathroom and associated works well within the £50k. I doubt you'd have enough left over for an extension / garden room.

All great points - many thanks - will be sure to check on all of those things. The boiler appears to in the garage to possibly elderly. I've had new radiators and boiler in this place a couple of years ago so I can look and see what that cost.

The renovation would be fine, but doubt you'd get the garden room unless its very small. If it hasn't been touched for years it's the rewire, plastering, windows, flooring etc that will swallow the majority of your budget. What about the roof? Gutters? new radiators if you're moving layout you may need to alter their position. A kitchen and bathroom on their own won't cost much, it's all the unseen, boring bits that take the cash

You need to think about the structure, heating, plumbing and electrics before you think about kitchens and garden rooms. Cost up getting the bones of the house right first and then see if you have enough left to do the cosmetic side of things.

Definitely check out the essentials before you even think about renovations as others have mentioned as these are hidden costs. Is there a damp proof course in the property or does that need to be addressed. Is the wiring up to spec and what about the plumbing and the roof? Also the condition of the windows - do the glazing units need replacing? A £50k budget is not a lot to do a renovation if you need to fix any of the basics. But if all of the basics are ok then I would have thought knocking through a room and putting in an RSJ and new kitchen and bathroom using basic ranges might be possible. We knocked through a wall to incorporate a conservatory into our kitchen. By the time we had replaced the glazing, dug out the floor in the conservatory so we could have underfloor heating and no differences in levels, replastered, replaced ceiling, moved a doorway and rejigged the electrics and installed a new kitchen, £50k wa gone with the wind!

I wouldn't think the budget will go very far when you probably need to factor in a completely new heating system and full rewiring. What's the plaster like, are there textured ceilings or walls, is there wood cladding anywhere? Roof condition? There's stuck in the 1950's in terms of taste and then stuck in the 50's in terms of regulations and could make a huge difference to renovation costs. We gutted a victorian house 20 years ago which included removing all the lathe & plaster walls & ceilings. We definitely underestimated whole cost of works. Could you pay a builder to view with you to view for a realistic idea of what needs doing - much cheaper than a survey at this stage and surveyors just recommend x, y and z are checked by specialists so doesn't really help.

Do the windows or roof need replacing?

Internally, it would be a similar amount of work to a flat if it’s just the one living area and one bathroom so IMO 50k will do it including new central and electrics.

If it's mainly cosmetics 50k will be fine, but if it needs re wiring, central heating, walls boarding and plastering and anything else unforseen it might be a stretch but in general I think 50k would be fine. We haven't spent that much and our house I think was worse than this sounds.

Could you borrow more if you needed to? Does everything need to be done at once? In my experience nothing ever comes in on budget (or for what the builder quoted)

I'm in the south west and I refurbed a Victorian town house, windows, doors, complete rewire, damp proofing, garden work, most rooms replastered, new kitchen and bathroom, redecoration, painted exterior, new fascias and guttering, some custom carpentry and two new fireplaces. Cost about 120k and it's not quite finished.....

If it’s any help our builders gave a ballpark figure of £7k to knock through our kitchen/dining room to get it ready for refitting (inc inserting a steel). So that’s to the bare bones, ready for new kitchen/tiles/floor/paint. We also got a ballpark for a new en-suite which was £3k not inc fittings. Plus VAT.
We are renovating an existing outbuilding to become a garden/dining room ie using the existing foundations and walls, just internally insulating, changing the roof, the ballpark for that is about 35k. That includes the electrics, plumbing, carpentry.
We’re in the SW.

When you get the structural survey back, you will have a more accurate picture of what needs doing. If it’s stuck in the 50s, my guess is a lot and £50k won’t get near it.

I’m surprised a builder hadn’t bought it to demolish it and build a house. The fact they haven’t means it’s too expensive. All bungalows with decent views and plots get snapped up for redevelopment around here.,

Well I saw it - the last (deceased) owner was the guy who built it in the 60's. It needs everything redone, heating, electrics, the floor is concrete and had just been dug up (concrete still wet) to replace a broken water pipe. The view was lovely and the property has huge potential at the right price - but it would be unliveable in while it was done. So not for me.

I'm off to see a smaller property next week that has been beautifully renovated but might be a bit too small (cheaper than the un-renovated one). Fingers crossed !