FTB: have we made the right decision?

[NeedAdvicePlzz]

Hi. I just got an offer accepted on a house. It's in South London, a nice suburban area with a little high street (and waitrose). I'm buying it with my partner and we've buying a bit earlier than we thought we would (rent is expensive and to be frank, we are sick of renting and uprooting every year and just want some stability.)

We are on good incomes, and can put 30% toward the deposit to get a better interest rate (not that the rates are great anyway). We are very lucky and feel very grateful.

The offer we made is for £710k. The asking price was £780k. On this road, the Houses all done up and modernised sold for £975k - £990k recently. It's a Victoria semi-detached house, in a very popular area, walking distance to the high street (which we love) but it needs some work (nothing super urgent, but work we can do over a few years). There's a good roof, good loft for future conversion. It has a small driveway for a medium sized car and a small car (just about comfortable enough - we'd prefer it larger tbf). There is no garage.

It's 3 bed (two good sizes, one very large), one small family bathroom (we'd add two more later on), two reception rooms and a good sized kitchen. The garden is about 20m x 7m (we plan to extend into it). It's not derelict, it's liveable but probably needs a plastering room by room over the years and some good paint and furniture.

It is EPC E though, so we plan to add internal wall insulation bit by bit when we get down to doing some plastering. We think it might need a rewire at some point (not soon though).

The windows are mostly double-glazed - just a few aren't and the roof needs thicker insulation to get it to EPC D. It looks well looked after, but just needs some more TLC.

Do you think we've made a good offer. We are FTB and don't have parents to really ask for advice (deceased or never bought before). We come from council housing backgrounds, in case that's important for context.

Thanks for your help.

All sounds good to me. Congratulations and wishing you a smooth process.

Sound great! Your offer was significantly under asking price!

Get a good level survey.

Have a wander round at the weekend, check the neighbours are not blasting out music etc.

Good luck!

The little Waitrose will soon turn into a money pit.

Having The Little Waitrose nearby means that it’s a smart area. Companies really investigate where to site their stores.

Wow, it sounds like you've done very well there, wishing you all the luck to get it through to completion! Congratulations!

It sounds fine - what are you concerned about?

Thanks all. I feel very nervous. It's a bit commitment and just feel anxious about it being a whole house rather than a small one bed or studio we've been living out of for the past few years. There is work to do on the house, but doable bit by bit. I am just nervous I won't love it down the line.

It sounds fine, what are you anxious about? It’s a lot of money so scary but if you can afford and it’s somewhere you will stay long term don’t worry. And if you’re putting down 30% that’s a good LTV.

Wow sounds like you’ve done well there! You will get your money back plus more by the time you finish the work on it. Definitely the right decision!

Sounds lovely! I'd be tempted to view after your description.
Are the neighbours ok?

Can I just say, be careful about adding insulation to walls. Old houses need to breathe. You could cause damp issues.

EPC are a blunt tool and not particularly suitable for older properties which are constructed differently.

I was going to say exactly that.
Old houses are more draughty, but the air needs to circulate so as not to cause damp. Heat pumps, for example, don't work as effectively in older houses.
But you should be fine with a semi that has been standing for over a hundred years, it's clearly been built to last!
It sounds like you have got yourselves a good bargain. You don't need to rush with any improvements, so take your time, and make sure you get a proper survey. That will inevitably lead to recommendations to get various bits and pieces done, and most of those will be unnecessary in the short term, but you do want to know if there is anything expensive likely to crop up.

I really appreciate the comments and advice. We will do a full building survey, I looked into this properly last night thanks to you all.

@SquishyGloopyBum and @DelphiniumBlue thanks regarding draught and insulation on the walls. It's stuff like this that makes me a bit nervous. I just don't know about it at all. Would a plasterer know this about old houses?

I feel like we might make a wrong decision or two and wreck the house. I've never looked after anything bigger than a small flat.

I know there is someone called @PigletJohn on MN and hoping people with experience could share some resources on Victorian houses up-keeping and maintenance.

One thing though: the house feels homely despite being old. I didn't think that was possible.

OP, you should join Your Old House UK - Repair and Conservation on Facebook. There is a wealth of knowledge there, and they might be able to calm your nerves. Equally they could send you running for the hills. But spend some time on there to get a better idea of what to expect from a Victorian property.

Sounds like a lovely house in a good area, echo other posts being a bit wary of over insulating especially walls, as these houses do need to breath.
better loft insulation & good windows always help also good quality carpets/rugs & really thick interlined curtains (these made a huge difference with keeping warmth in the rooms) we also have a door curtain which again really helps we have the original Victorian front door although very pretty it only fits where it touches.
Totally understand the nervousness it’s a huge amount of money, it’s a real bonus if it’s very liveable & work can be done over time, good luck.

This sounds like a great investment (subject to survey of course!) but do expect some things to come up, it is an older property after all. I used to live in a Victorian property and never had any major issues.

I second that Old House Facebook page. Love the advice you get there. Knowledgeable people with passion for old houses.
And there are also these two that you might find helpful

Thanks all! I will join the facebook group. I hope there's a few people there who own Edwardian homes.

One question I had was about the windows. half the house has single-glazed windows (they're old, probably from the 1980s). But the other half has double-glazing. The vendor said she had them put in in 2020 and said they're FENSA certified.

I looked on the council's planning permission site and can't see the FENSA certificate for the windows. I have seen this before for another house I viewed when I checked the planning permission site.

Is it usual for a property owners to have their fensa certificate on the council's permission site? Thank you

My FENSA certificate was given to me by the window installers. I just scanned it and emailed it to the solicitors

@NeedAdvicePlzz Do not get too hung up about FENSA certificates - get a qualified person to check the windows, are they sound and with no blown panels if double glazed.

As others have said - EPC's and old houses are not a good marriage. Under no circumstances put internal (or external) insulation on walls of a Victorian house. They need to breathe in order to not be damp. If you get a survey done, take your time to find a good surveyor who is used to dealing with older houses.

Join periodproperty forum.

https://www.periodproperty.co.uk/forum/

There are ways of insulating the walls of older properties, you just have to be careful and make sure you understand your building. Plasterers or tradespeople won't understand the issues unless they have worked on old properties and have learnt about breathability in older houses. There is, for example some insulating lime plaster that you can use which is insulating but also breathable i.e. lets moisture into and out of the brickwork. And other people on the period property forum have had some success with insulating wallpaper. Also moisture movement is less of an issue on the 1st floor so you may be able to insulate the top floor and roof with more modern methods but not the ground floor.

Lime plaster is what was traditionally used in buildings and it is moisture permiable. Gypsum is the modern type and it isn't, so any moisture in the walls gets trapped, which can cause issues if it can't get out elsewhere i.e. the outside wall surface.

it's normal to have reservations wherever you buy, your nerves are just a sign that you aren't being naive.

I can't comment on price, but Wish you the best in plans to make it a great home for you.

I live in South London and have been fortunate enough to know a really good builder who is (in my opinion) truthful, fair in pricing, and does good quality work. If something is likely difficult and expensive to do, he will tell you upfront, rather than tearing things apart first and then upping the budget. This individual could potentially visit the property with you before or after exchange to discuss options for the work to be done.

Send me a direct message if you would like his details, and then do not take my word for the quality, ask him to show you some of his other projects and speak with some of his clients.