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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:
LittleBearPad · 22/02/2023 20:30

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!

Carpets were probably knackered so it was taken out and not replaced - as they’d no doubt be replaced again it makes sense

LittleBearPad · 22/02/2023 20:32

Branleuse · 22/02/2023 20:30

I thought up north was supposed to be cheap?

Same square footage near me, in worse condition would be £1m. It is cheap.

userxx · 22/02/2023 20:32

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.

I pay a whopping £35 in two instalments.

Think there's 938 years left to run, I'm not worrying yet.

CatOnTheChair · 22/02/2023 20:37

Nav7 · 22/02/2023 20:19

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!

Show quote history

If it's already the cheapest, it's probably a fair price (unless all the sensibly pried ones are sstc!).
Looks like it could be lovely.

Original poster
Nav7 · 22/02/2023 20:38

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!

It was carpeted when 1st listed, taken out when relisted. The carpets were a hideous grey and just made the property look more dated then it looks now

OP posts:
WeAreTheHeroes · 22/02/2023 20:39

Lots of houses in the NW are leasehold with very long leases, eg 999 years, or the agent mistakenly states they are leasehold when there's a chief rent. The thing to ask is how much is the ground rent and is there a mechanism to increase.

It's worth what's being asked - maybe a bit less for re-wiring if needed.

I love the downstairs loo tiles. Change the loo, etc and it could look amazing.

Original poster
Nav7 · 22/02/2023 20:42

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.

I agree that the walls don't need doing but it would be the right time to do it considering the property would be empty. Less hassle in the future (I am talking as if it's my house! 😂)

OP posts:
isthisit83 · 22/02/2023 20:45

I wouldn't be wholly put off by a leasehold house as you can buy the freehold.

Viviennemary · 22/02/2023 20:47

There is nothing very appealing about it and Bolton isn't known to be an expensive area. Just compare it to other houses nearby. Doesnt seem to need that much work. I was expecting a run down older property.

ProudToBeANorthener · 22/02/2023 20:47

It being leasehold and the ground rent being low isn’t the end of the problem. Some leasehold agreements don’t set the amount that can be charged, in the deeds, so the leasehold owner could increase the annual cost exponentially without you having any redress. I would never buy a leasehold property; in my opinion if you are offered the chance to buy the freehold, do it to protect yourself from nasty surprises down the line. In the long run it would be likely to make your house more attractive to a potential buyer.

shard5 · 22/02/2023 20:47

Lease won't be more than a few pounds annually. I'm in Bolton ,pay 1.25 a year
Have you tried Devonshire road @Nav7, there's always a few properties on sale there, edge of Heaton, Chorley new rd end.

shard5 · 22/02/2023 20:51

In your position and considering it's been on and off the market I'd make an offer of £250,000 and let the agent know it's a cash purchase then take it from there.
It's obviously empty so they might haggle up to £280,000
Are you in Bolton already?

TheNoodlesIncident · 22/02/2023 20:53

I quite like it, it's not the style that I would usually look for but the rooms are all really good sizes and it looks in reasonable condition. Shame there's no photo of the office space. Great to see a downstairs loo as well as the nice sized bathroom.

The leasehold would put me off, I would want to buy the freehold if it wasn't too much. It's still got lots of potential to be lovely though.

WeAreTheHeroes · 22/02/2023 20:55

Viviennemary · 22/02/2023 20:47

There is nothing very appealing about it and Bolton isn't known to be an expensive area. Just compare it to other houses nearby. Doesnt seem to need that much work. I was expecting a run down older property.

Depends entirely where in Bolton it is

TiredandLate · 22/02/2023 20:57

I've only ever seen leasehold being an issue on mn. It is very normal in the NW. I bought last year and was more surprised that it was freehold!

Original poster
Nav7 · 22/02/2023 20:57

shard5 · 22/02/2023 20:47

Lease won't be more than a few pounds annually. I'm in Bolton ,pay 1.25 a year
Have you tried Devonshire road @Nav7, there's always a few properties on sale there, edge of Heaton, Chorley new rd end.

Thats exactly the area I am looking in... in and around those streets but nothing great in the area at the moment and there hasn't been anything of note in the 12 months I've been looking.. within budget obviously

OP posts:
Original poster
Nav7 · 22/02/2023 20:59

shard5 · 22/02/2023 20:51

In your position and considering it's been on and off the market I'd make an offer of £250,000 and let the agent know it's a cash purchase then take it from there.
It's obviously empty so they might haggle up to £280,000
Are you in Bolton already?

Yes already in Bolton.. I'm thinking if they want a quick cash sale they may get rid quickly but I am sure if that was the case, it would have sold already so vendor is probably looking around the £320K mark as per the listing

OP posts:
Blurpy · 22/02/2023 20:59

So do I. I love the sliding doors and the front porch. House seems nice and bright, big windows, floor boards look in reasonable shape - lots of appealing things about this house, imo.

Rebel2 · 22/02/2023 21:00

Viviennemary · 22/02/2023 20:47

There is nothing very appealing about it and Bolton isn't known to be an expensive area. Just compare it to other houses nearby. Doesnt seem to need that much work. I was expecting a run down older property.

Some of Bolton is pricey!

Original poster
Nav7 · 22/02/2023 21:00

TheNoodlesIncident · 22/02/2023 20:53

I quite like it, it's not the style that I would usually look for but the rooms are all really good sizes and it looks in reasonable condition. Shame there's no photo of the office space. Great to see a downstairs loo as well as the nice sized bathroom.

The leasehold would put me off, I would want to buy the freehold if it wasn't too much. It's still got lots of potential to be lovely though.

Does have a lot of potential, would look great if rendered cream with grey windows!

OP posts:
Original poster
Nav7 · 22/02/2023 21:01

Rebel2 · 22/02/2023 21:00

Some of Bolton is pricey!

Show quote history

It is! In and around Heaton & Lostock, it is very pricey!

OP posts:
Blurpy · 22/02/2023 21:02

Blurpy · 22/02/2023 20:59

So do I. I love the sliding doors and the front porch. House seems nice and bright, big windows, floor boards look in reasonable shape - lots of appealing things about this house, imo.

That was meant to be me agreeing with @BarrelOfOtters about the yellow bathroom tiles.

Rebel2 · 22/02/2023 21:03

I used to live in horwich so I know the area pretty well, some stunning houses off chorley new road

rwalker · 22/02/2023 21:07

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.

Jesus snap there hand off !!!

notangelinajolie · 22/02/2023 21:13

I have no idea why but mumsnet has an illogical fear of leasehold houses.
In some parts of the UK leasehold houses are more common than freehold. I live in such an area. All the houses I have lived in except the one I am in now have been leasehold and it has never been an issue. You just send a cheque every year for the £26 or whatever it is. When it comes to selling you just need to show a bank statement to prove it’s paid up to date. If you want to build an extension you just notify them and pay a fee. Never very much.
I’m in the NW by the way - but not Bolton.