Non-standard house

[user1485851222]

Offered today on a nonstandard property, a bungalow. If accepted, we will have to completely gut it, new carpets throughout, new bathroom, kitchen, decoration etc. But it could be wonderful when finished. Not many properties for sale in the area we want to purchase. It is a woolaway property, does anyone have any experience with non standard property? Any advice welcome. Thanks in advance.

If you need a mortgage you'll struggle. If you do find a lender they will expect a large deposit, 30%+.

Yes I’m assuming you don’t need a mortgage?

Just remember that whilst they can be a good buy for you if you don’t need a mortgage, the likelihood is that you’ll be limiting potential purchasers if you want to move.

Does it need work? I’d also be worried that you’ll find it difficult to find tradespeople to do work on it, especially for a reasonable price.

If it’s a prefab, won’t it cost a fortune to heat? Can you get insurance in case it gets damaged in a storm/ fire?

If it’s a gem these things might be worth living with of course, but I’d definitely be thinking about them.

Many lenders won't lend on one. You might struggle to get a mortgage, or if you don't need one and are cash buyers, you might find you struggle to sell it on (if you do want to sell it on in the future), for the same reason.

From google:

Woolaway properties are considered non-traditional and are on the official Designated Defective list.

Beware OP....

No we don't need a mortgage

Classed as defective because of concrete, but more you're advised up on them, we're lumped in with defective ones that had bad concrete

This would be my last move. But 3 in the same road have told in last few months. Were sold not because of defects but because homeowners died.

That sounds very positive. If you love it,go for it.

If this is to be your forever home then it sounds great. My Grandparents had one and it was their last home. When they both passed away and we came to sell it I will be honest in that we didn't struggle to find a buyer that much, although it was a cash buyer that it went to. So as long as you are just aware of any pitfalls then go for it!! 😊

Thank you. For being so positive. If family struggled to sell after my death, they could sell the land it sits on, as it's in a lovely rural area.

I bid on a few defective bungalows (Scotland) and was outbid every time by developers who just wanted the land. I wouldn't worry too much about selling on.

Excited for you OP! The proportions of these nonstandard bungalows are always so pleasing. Do you have ideas what kind of theme/colours you're going for?

Lots of ideas, colour schemes, wallpaper. Didn't offer till late this evening, so hoping I hear in the morning. Was put off previously, but now think sod it, it's my last move. Will get full survey though. Thanks for your enthusiasm.