People who happily take on refurbishment properties - come hither and tell me where to start

[HangerLaneGyratorySystem]

I've been to see a Victorian terrace, been empty maybe a year, I love it. I thought get everything painted over, new flooring, new bathroom, maybe could live with kitchen, do the rest as I go along. Now I've seen it there's so much more to do; I'm not sure its even safe to move in at all (regardless of price). Might need a re-wire, new CH system, lots of plastering, might be asbestos (some dodgy shit in the loft), water in cellar, conservatory might need demolishing and so on. I even suspect a supporting wall has been removed upstairs. On the plus side windows look good, roof sound and no damp. However, the agent (initially nicey nice) is now insisting its all cosmetic and treating me like some confused nanna. I feel like I'm being gaslit. A previous buyer had a survey done then pulled out, agent is stating this is pure coincidence and that had there been any issues in the survey they would have had to be informed in order to notify the vendor (who I presume is the previous elderly occupier's family).

When you see a place like this, what are you looking for? What tells you whether or not to take a punt? Or an informed decision? Am I meant to get a builder round to look at it at this stage? Would I need to pay them for that? Could I buy a copy of the survey from the previous buyer? What should I do first?

Pay for your own survey

Sounds like it needs lots of money spent on it

My friends who do this; have extensive woodworking, tiling, and electrical skills.
They look for solid bones; minimal foundation and wood rot.
Both work as a team with their spouse, especially for demolition.
They also have solid knowledge of the necessary permits and inspections.
Very organized with timelines.
Knowledge where to rent scaffolding, mini backhoes and own trucks for hauling stuff around and taking drywall/flooring/carpet to the dump.
Both do amazing jobs, live in place 1 yr+ then flip.
Both ladies have a keen eye for color and pulling together details.

An old property like this is a forever project. You need to get the most detailed survey you can to find out what issues are there now. But that’s where it starts. You are basically maintaining an antique, new problems appear out of nowhere. They are definitely money pits.

How much are fully renovated ones going for?
You haven’t mentioned the windows or heating system?

When a surveyor does the survey it is usually only for the person who commissioned it. That’s because from the surveyor’s point of view there is liability with each report he / she does and the risk of being sued from any mistakes made.
If you could find out which company did the survey, they might do you a reduced rate as their inspection and report should be quicker and easier to do if they have done it before recently.

A victorian property is never "cosmetic" it may look like it is, but they never, ever are.

If you only have 20k you can't afford this one.

I'm sorry because I know you've become invested but I wouldn't even pay for a survey, I'd just look elsewhere. A survey would be a waste of money when it'll just confirm what you already know, deep down - this house needs a lot more work than you have budget for.

What @MrsElsa said. It doesn’t sound as if this house will work for you if you only have £20k and don’t want/can’t afford to do more than cosmetic work. We bought a big, neglected Victorian house in 2020, are only coming to the end of phase 2 of the renovation, and have spent nearly 300k on it. I mean, on top of the purchase price.

We're 18 months into our reno, we've rewired, put in new heating, new windows and doors, we're £40k down already before anything 'nice' and cosmetic has been done. We're not in London either so these aren't London prices. With only £20k available I'd advise do not touch that house with a bargepole. Living in a reno is tough as well, its full of ups and downs, and expected issues and delays.

Thanks everyone, didn't realise there were so many replies. As @OhhhhhhhhBiscuits says, if I have £20k then I can't afford it. Simple as that. One further down the terrace sold earlier this year for £300k, it needed some work but not re-wiring and plastering etc. But regardless, I can't afford it. It's one of those things where you just have to hope that in a few months you see something else that grabs you as much.

Trades are hugely in demand at the moment and the prices have shot up. Don’t assume you’ll find reliable trades people and the ones you do book could let you down if a better offer comes along. I use contractors on commercial projects on repeat, and I still get let down a lot.

£20k won't go anywhere if you need electrics or plumbing doing.

I'm refurbishing my last house and even though I want to do it much cheaper than last time everything has gone up. And I don't have to do electrics and plumbing.

I saw some horrors before I bought this with "original electrics" like that's a good thing!

I think you can find something better.