Active discussions

Meet the Other Phone. A phone that grows with your child.

Meet the Other Phone.
A phone that grows with your child.

Buy now

Please or to access all these features

Talk
Property/DIY

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

Original poster

How much is this property worth? RM link included!

105 replies

Nav7 · 22/02/2023 19:45

Hi all, I hope you're all well. Just wanting to gauge some opinions on what you guys think this property is worth and how much approx would be needed to get it to a decent liveable standard? I appreciate its all about opinions so no right/wrong answer.
www.rightmove.co.uk/properties/129934388

It came on to the market in Nov 2021 for £310K (at the peak of the market), got sold/taken off/sale fell through, unsure what happened to be honest... has had a lick of paint and put back on, on 9th Dec at offers over £340K which I thought was ridiculous considering the work required and current market conditions. It was then reduced to OIRO £320K 2 weeks ago. I think it needs approx £50K spending on it (internally) for a new kitchen, bathroom, downstairs WC, removing walls between kitchen and office/dining, possibly electrics and a couple of patio doors... and that's just looking at it from the surface. EPC rating is an F.

Comments/opinions greatly appreciated 🙂

OP posts:
Paq · 22/02/2023 19:51

Well it's in a perfect liveable standard right now, with the exception of carpets.

Dfg15 · 22/02/2023 19:52

Its Leasehold, I wouldnt go there not with a house.

friendlycat · 22/02/2023 19:54

Dfg15 · 22/02/2023 19:52

Its Leasehold, I wouldnt go there not with a house.

Me neither as it’s leasehold.

Original poster
Nav7 · 22/02/2023 20:00

Paq · 22/02/2023 19:51

Well it's in a perfect liveable standard right now, with the exception of carpets.

Thats a fair point, however realistically, I don't think many would live there in its current condition (could be wrong but just an opinion). What would be a realistic offer on the property?

OP posts:
Original poster
Nav7 · 22/02/2023 20:03

Oh I must point out, I am a cash buyer, no mortgage and no chain. I sold at the peak of the market, beginning of 2022 so I am hoping that would help with an offer considering the current market conditions

OP posts:
Owlcat42 · 22/02/2023 20:03

if the EPC is an F you might want to add insulation and energy efficiency measures into the mix. I recently bought an F rated house and it’s absolutely arctic!

I would have a think about that and what can be done. Loft and cavity wall insulation isn’t that expensive, but mine needs external insulation which I think is going to cost £10-£15k (am applying for a grant to cover that but no idea if I’ll get it or not) Is it double glazed? And does the heating work? Best not to presume it does until you’ve tried it.

Original poster
Nav7 · 22/02/2023 20:03

Dfg15 · 22/02/2023 19:52

Its Leasehold, I wouldnt go there not with a house.

Please explain why

OP posts:
Justmeandthedog1 · 22/02/2023 20:05

Leasehold, wonder why?
EPC is awful , think you’re looking at cavity insulation and new loft insulation. Check underfloor insulation.
Double glazing all needs checking it’s not blown.
New kitchen
New bathroom.
Cloakroom tiles would have to go!
Fireplace would have to go, install wood burner.
Floors I’d sand and polish / wood stain but I hate carpets.
Open kitchen into dining room, or other back room to make large kitchen /diner.

Offer 40k under asking price, prepare to spend 50k-60k if you’re careful.

AllWorkYoPlait · 22/02/2023 20:07

How long is left on the lease? Unless incredibly long I wouldn't consider touching it - unnecessary hassle.

worried4698643 · 22/02/2023 20:10

I imagine not too long left on the lease, as if it was a hugely long lease they would be putting that on there.

Leasehold houses are an absolute nightmare.

Soontobe60 · 22/02/2023 20:11

There’s a lot of houses just like this for sale on Ladybridge. This one is probably cheaper than most of them. Are you set on this area?

Remona · 22/02/2023 20:13

I wouldn’t entertain a leasehold house personally and it’s interesting that nowhere does it state how long the lease has left, which makes me think it’s not long.

BarrelOfOtters · 22/02/2023 20:13

I rather like the yellow tiles in the bathroom…..

DownInTheDumpster · 22/02/2023 20:15

I’d want to know the details of the lease- virtually all houses round here are leasehold wirh leases of 900+ years and ground rent about £6/year so that wouldn’t bother me if similar.

Original poster
Nav7 · 22/02/2023 20:15

Unsure re the lease - I will have to find out. Most properties I have come across do not have the lease tenure in the listing... maybe it's a Bolton thing! Haha

OP posts:
Shudacudawuda · 22/02/2023 20:15

Our house is leasehold, its very standard where I live.
What problems is it supposed to cause? Its been no issue for us, we have to pay about £20 a year for it and they are constantly asking if we want to buy it for about £300. Maybe we will one year.

IhearyouClemFandango · 22/02/2023 20:15

Nav7 · 22/02/2023 20:00

Thats a fair point, however realistically, I don't think many would live there in its current condition (could be wrong but just an opinion). What would be a realistic offer on the property?

Show quote history

We must be more project minded then others then, as this seems a real over reaction to a slightly dated but very liveable property!

Original poster
Nav7 · 22/02/2023 20:16

DownInTheDumpster · 22/02/2023 20:15

I’d want to know the details of the lease- virtually all houses round here are leasehold wirh leases of 900+ years and ground rent about £6/year so that wouldn’t bother me if similar.

That would be my assumption as thats what I've come across in the past.. something similar would not bother me either

OP posts:
Original poster
Nav7 · 22/02/2023 20:19

Soontobe60 · 22/02/2023 20:11

There’s a lot of houses just like this for sale on Ladybridge. This one is probably cheaper than most of them. Are you set on this area?

To be honest, Ladybridge is 2nd choice. I was looking in the BL1 part of Heaton in Bolton but nothing ever seems to come up! This one seems to be the cheapest for a detached 3 bed in Ladybridge. There's one on the road behind (Caithness) for £330k+. Similar ish condition, rang the agent and they told me the vendor wants at least that amount for a property that's been on since July! Madness!

OP posts:
LaRitournelle · 22/02/2023 20:22

I don't think people on MN realise leasehold is very common in lots of areas (so common that there's no need to put all the details online). All the houses round here are leasehold and £25 per year ground rent, so it's not something that would put me off.

Original poster
Nav7 · 22/02/2023 20:25

LaRitournelle · 22/02/2023 20:22

I don't think people on MN realise leasehold is very common in lots of areas (so common that there's no need to put all the details online). All the houses round here are leasehold and £25 per year ground rent, so it's not something that would put me off.

Yep, peppercorn rent as they call it! My last place, it was £3.60 for the year! They offered me the freehold for £700, didn't bother responding.. sold the house so would have wasted £700 and it wouldn't have added to the property's value

OP posts:
Jumbojem · 22/02/2023 20:27

I thought I'd read some of the comments before opening the property details.
It seems entirely livable to me while you do it up. Messy and uncomfortable at times maybe but nothing awful. Given the comments I was assuming it was going to be a much older run down property!
Any idea why the flooring in every single room has been taken up?
The heating looks to have been functioning when the pics were taken as you can see the steam from the boiler pipe so at least that's one thing!

LittleBearPad · 22/02/2023 20:29

It’s fine. You could live with the bathrooms and kitchen easily until you could afford to do them.

Knocking walls down might be what you want to do but it doesn’t need doing.

Kranke · 22/02/2023 20:30

Looks totally liveable at the moment and a good price. Just offer what you think you can afford.

Branleuse · 22/02/2023 20:30

I thought up north was supposed to be cheap?