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Original poster

Are period properties money pits? I think I've fallen in love with one.

93 replies

ninkyno · 04/03/2022 23:08

Went to see an Edwardian flat today and I felt the tingles- the high ceilings, elaborate plaster work, winding staircase, wide proportions, hidden rooms, elaborate fireplaces, etc. It didn't help that the gentleman who previously lived there, appeared to have lived the most amazing life- his grand piano was still in situ as well as period furniture and furnishings. I really didn't want the viewing to end BUT... it needs a LOT of work doing to it as it hasn't had anything done to it for the last 50 years. I'm talking new windows, new floors, electrics, etc.

My husband thinks I'm mad and we should keep looking but we're getting twice the amount of square footage in this place than a house for the same price. Would this flat be worth the risk? Is the top floor flat with share of freehold so we'd be responsible for any roof repairs, etc. Are there any other pitfalls that come along with owning beautiful, old buildings?

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Pyewhacket · 06/03/2022 17:27

Bought an early Victorian Villa style property in SW London 20 years ago. Must have spent £150k+ restoring it but we did buy it outright so we had no morgage. We did the work when we could afford it.

The expensive bits were having to employ a craftsman rather than a building for the stonework , ornate plaster work, stained glass panels and slash windows. Also quite a lot of wartime bomb damage repairs had to be sorted. I guess they used what ever materials they had available at the time.

A580Hojas · 06/03/2022 18:30

It looks like a huge project. If the vendors are wise they will sell to experienced developers, not first timers. That sounds mean but isn't meant to be, just realistic.

Riverlee · 06/03/2022 19:18

That carpet! What a blast from the past!

CoastalWave · 06/03/2022 19:20

Love older properties but would want the whole house or for me, they lose their charm and appeal.

CoastalWave · 06/03/2022 19:24

oh and yes, and windows.

I have one bay window that is still the old single glass stained glass in my house (not Edwardian, simply 1940's semi). Just for that window, it's £1600 to replace - and it's by no means Edwardian size. And that's without the stained glass. It would be worth getting a quote NOW just for the windows just to see what you're up against.

caringcarer · 06/03/2022 19:45

I just bought a fabulous old grand house 1910. It is georgious but has a bit of rising damp. It has really beautiful plaster work, corbels and fireplace to die for. The lounge is large but also opened up into dining room so massive. Sweeping Bay Windows. I really need to get damp sorted.

Original poster
ninkyno · 06/03/2022 19:48

@CoastalWave

Love older properties but would want the whole house or for me, they lose their charm and appeal.

Houses like these are upwards of £1.4-£1.6M where we are which we'd never be able to afford sadly. This maisonette seems like the next big thing.

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Original poster
ninkyno · 06/03/2022 19:50

@caringcarer

I just bought a fabulous old grand house 1910. It is georgious but has a bit of rising damp. It has really beautiful plaster work, corbels and fireplace to die for. The lounge is large but also opened up into dining room so massive. Sweeping Bay Windows. I really need to get damp sorted.
Eeeek. I went for our viewing for this flat with all of my DIY/renovation feelers on- luckily there didn't appear to be damp but there had been a leak a few years ago which had been addressed and the ceiling in one of the rooms fixed but what lies beneath all that is what's causing my husband concern.
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Original poster
ninkyno · 06/03/2022 19:52

Thank you for all those reassuring messages that've said it's possible repair period windows and not necessarily replace. I'm going to talk to the EA tomorrow and see where that leads us.

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Original poster
ninkyno · 06/03/2022 19:57

@A580Hojas

It looks like a huge project. If the vendors are wise they will sell to experienced developers, not first timers. That sounds mean but isn't meant to be, just realistic.

Their father owned half the street where this property is located and a couple of properties in the neighbouring town. This is where he himself resided which is very modest from where he could've potentially lived. I don't think his children care who the flat goes to so long as gets sold for the right price!

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Original poster
ninkyno · 06/03/2022 19:58

@Riverlee

That carpet! What a blast from the past!

This was one of the 'odd' rooms in that it was very retro. The rest of the flat was like walking through a museum. The house is choc-a-block with beautiful furniture and mementoes of his life. The piano lounge (not posted since it's very identifying) made my heart skip a beat.

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MalbecandToast · 07/03/2022 06:35

How long has it been on the market? If you make an offer please ensure you negotiate tradesmen going and getting quotes for the work- its great if you can repair the windows but please don't pin your hopes on this get someone to see it and confirm this before you exchange!

blue86 · 07/03/2022 06:46

It's green belt land we've been told. Apparently the owners have applied for planning permission many times but it's been refused every time.

Just a note of caution. My house is on green belt land, as is the field opposite. The new housing targets Local Authorities have to meet have been a game changer in terms of building on green belt land. Including plans to build on the green belt land opposite me (even though it's a single track road that can't cope with the existing volume of traffic).

Not only is a development of 800 homes planned on some green belt land elsewhere in my town, that land is also designated an Area of Outstanding Beauty. It's pretty brutal.

I bought a house very like your flat (particularly the colour of your bathroom!). It needed new electrics and plumbing before the main renovations. It cost a lot of money but I love it. I'd definitely try to get quote first so you have some idea of the building costs, which have gone up a lot in the last few years.

GoldenApple · 07/03/2022 07:02

Beautiful property and lots of potential. Nothing much to add as everyone else has already said it. But... Where does the door lead that is situated in the window bay? 😱 What was it for?

P.s. I'm about to buy my third Victorian property. Just do it 🤪

ShoesEverywhere · 07/03/2022 07:14

I reccomend a facebook group called 'your old house UK - repair and conservation', if you put your photos there they'll spot things you might not have seen and be able to give good advice on how to do up the house. I love my old house!

DSGR · 07/03/2022 07:19

Period properties are the only places where I feel home, have always lived in them. Don’t actually find them money pits but I don’t buy them in terrible condition. As long as you’ve factored in the costs, go for it. Any problem can be sorted if you love it! Also, it sounds big??

TheHoptimist · 07/03/2022 07:36

£100,000 for windows in our Edwardian town house.
Does it need windows? What is the leasehold- are windows part of that?

TheHoptimist · 07/03/2022 07:41

The pink marble fireplace is very original and very unusual as the marble was apparently only available for a few years. We have the same- I thought it was a 1960s replacement but a specialist fireplace company were very excited by it.

Decorhate · 07/03/2022 07:42

When we bought our house (also Edwardian) we got a full structural survey done & they gave us estimates of what each big repair job would cost.

We were able to live in the house throughout the renovations (which we did piecemeal rather than all at once) but that might not be possible in a flat so factor that in too.

alwayswrighty · 07/03/2022 07:50

You mentioned that the vendor was going to amend the property to leasehold and then move it back to freehold on completion. If that is done you will struggle when you remortgage. Knowing how much it limits the lenders you can borrow from I wouldn't buy it.

Flexitarian · 07/03/2022 08:01

I lived in a flat almost identical in that it was the top two floors with side garden, when my children were small. It was gorgeous but be aware your heating bills will be massive. The first winter was COLD and we had to have extra plug in radiators.
Mine was in a conservation area which put restrictions on renovations so check if there is anything like that in place.
However, it was gorgeous and spacious and we have such lovely memories of our time there.

saddowizca · 07/03/2022 08:04

My only note of caution is the dust and filth caused by sanding floorboards, replastering etc and your children breathing it all in. I had the worst chest infection of my life when we got our floorboards done 😫.
The flat looks amazing though and it sounds really convenient. As pp have said work out if you need sound proofing for the flat below.
It will be a money pit though.

cptartapp · 07/03/2022 08:12

@blue86

It's green belt land we've been told. Apparently the owners have applied for planning permission many times but it's been refused every time.

Just a note of caution. My house is on green belt land, as is the field opposite. The new housing targets Local Authorities have to meet have been a game changer in terms of building on green belt land. Including plans to build on the green belt land opposite me (even though it's a single track road that can't cope with the existing volume of traffic).

Not only is a development of 800 homes planned on some green belt land elsewhere in my town, that land is also designated an Area of Outstanding Beauty. It's pretty brutal.

I bought a house very like your flat (particularly the colour of your bathroom!). It needed new electrics and plumbing before the main renovations. It cost a lot of money but I love it. I'd definitely try to get quote first so you have some idea of the building costs, which have gone up a lot in the last few years.

Agree with this. We also live in and around acres of Green Belt land and properties are starting to pop up everywhere.
Infinitemoon · 07/03/2022 08:26

It is glorious but the cost of labour and materials is sky high at the moment so that would rule this out unless you have lots of spare cash. Also a house would be better for children.

adollopofthisandthat · 07/03/2022 08:57

As a guide, allow 5% of property value for replacing all the windows like-for-like ie timber. but as a pp says you may well not need to do that they might just need repair by someone who knows what they’re doing. It looks amazing but don’t underestimate the value of being able to let the kids into the garden without having to be with them all the time (when they’re a bit bigger obvs) …that would be the only practical downside for me.