Meet the Other Phone. Flexible and made to last.

Meet the Other Phone.
Flexible and made to last.

Buy now

Please or to access all these features

Property/DIY

Join our Property forum for renovation, DIY, and house selling advice.

Forced to sell house mid major renovation

26 replies

piffle123 · 07/11/2022 21:25

Does anyone have any experience or advice on selling a property mid major renovation?
Obviously not ideal but may be only option before we completely drown financially.

Bought an ugly, run down bungalow in a desirable village 4 years ago. Lovely position, amazing views and huge garden.
Plans were drawn to literally double its size and work started end of 2020, with DH doing much of it in his "spare time". He's not a builder but in the wider construction industry and we have done similar before. Estate agent has said will be worth significantly more than we paid for it once finished but that it needs to be a high finish.

This time however the economic situation has hit hard, like it has for so many other people. He is trying to keep his business afloat - no time or money to do anymore on the house.
Already spent £100k and Still needs at least £100k worth of work doing, shell of the extension is there but leaks everywhere, no kitchen or bathroom fittings. Concrete floors. Meanwhile existing bungalow full of damp and literally falling down around our ears.

I've had enough and just want out - can't see any point in the relatively near future where it will be finished or even remotely liveable.

I don't know who would want it in its current state let alone recouping any of the money we've spent. Sad

OP posts:
DrySherry · 01/05/2023 17:55

You really need to find a way of getting the property finished or you will loose out financially in a big way. If there is no way to do that then it's auction time I'm afraid, and that's going to result in a very significant loss. Sounds like an awful situation to be in, but hopefully if you have done up other houses and done well when you sold them, then you will still come out of it with something to use as a deposit on your next home. Good luck.

New posts on this thread. Refresh page