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Non-standard (concrete) construction houses, do they not grow in value?

9 replies

CatAndHisKit · 21/03/2022 03:15

I wonder what is the real problen with these, so that banks don't give morgages on them.
Is it that they are actually unsafe or that the materials will detertiorate fast and house will lose value within say 10yrs? The house l'm thinking of viewing is in a whle street of similar houses, built in the 70s most likely.
Grey so I assume concrete, but otherwise quite spacious 3 bed semis.
Or is it not the safety issue but something legally problematic for the banks?
The listing says 'cash only' but would I be making a huge mistake and will depreciate in value (it's cheap now), or is it an advantage and opportunity for a cash buyer?
On separate note, are these easy to rent out if need be?

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spotcheck · 21/03/2022 03:50

Is it the building materials, or is there structural issues with it?

yorkshireteaspoonie · 21/03/2022 04:33

www.onlinemortgageadvisor.co.uk/property-types/non-standard-construction/

This article is helpful

CatAndHisKit · 21/03/2022 14:18

Found out that specifically it's reinforce concrete, 50s/60s house.

Thanks yorkshire I'll have a look.

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Asdf12345 · 21/03/2022 17:07

A family friend has quite a few as buy to let’s. Apparently she can generally get them at about a third of the price that a standard construction house would be but they rent out at full market rate.

There are many different ‘non standard’ methods though, some a disaster and some perfectly fine. She pays the estate agents locally a finders fee so they never end up on the market. If this one is on the open market that may well mean a number of the usual buyers locally have walked away.

FurierTransform · 21/03/2022 18:08

Pretty much every house you see on Grand Designs is of 'non standard construction' - I don't think it's a very helpful blanket term really. It's more about specific designs of house having major issues.

CatAndHisKit · 21/03/2022 22:04

Asdf well the listing says 'cash buyer only' hence people walked away, but they do have an offer with mortgage (one lender apparently does these) which hasn't been accepted yet as they prefer a cash buyer. Unless you mean BTL buyers - well, it's not the best part of town but isn't bad.

So I've read up on it incl the link above, and yes, the main concern is that these house may need a hugely expensive repair as the concrete deteriorates with time. I definitely do not have funds for future repairs (usually 40K it says!), and main worry is that when want to sell I won't be are to.

I just wonder if PFC does detoriorate that badly - I'd hink more so with blockes of flats, but who knows. I may be renting it out at some point - but I also will probably be selling in abot 5 yrs.
Just getting desperate as no success finding something suitable and then not being outbid - not sure if this is the answer.

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CatAndHisKit · 21/03/2022 22:05

Furier, to me it's not about design etc but purely whether it will depreciate in value / would beed major repair.

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CatAndHisKit · 22/03/2022 14:03

Has anyone had experience selilng such a house recently?

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VeganGordie · 09/11/2022 14:39

find out all the latest construction news on Build in Digital, it has construction and building news for the uk market.

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