Thoughts on this house please

[AlexanderAndBenjamin]

Hello All,

I am starting to look at some properties and thought I might ask what you think of this one here please https://www.zoopla.co.uk/for-sale/details/68888044/

I quite like the chalet style.
It obviously needs quite a bit of work but I'm OK with that as I've always wanted something I could do up to my personal taste.
What do you think of the price considering the condition ? Also, any information on the area would be appreciated.

Thank you

So I can't comment on the area but it looks like there might be signs of damp. Hard to ratify by photos.

Those square ceilings will be a nightmare to get turned into an actual ceiling and let out a fair bit of heat.

Glass is blown so you will need new windows .

It looks like they have put up some fresh paint and new carpets in some areas which would make me question why.

That garage looks like it's letting in water and there a big old crack over the window lintel which could be just it being poorly cared for or a sign of ground movement.

I think the difference between a fixer upper and an absolute money pit is anything structural so the bones of a house.

Obviously I'm not a structural engineer so I could be wrong with all/any of the above but I would dig further before falling in love

It's awful. It's really very scruffy inside and out. But if you have vision and lots of money you could probably turn it into a nice house. I think it would be a money pit. Keep looking.

Look up the street/postcode in Zoopla: then pick some similar houses and look at the ones listed underneath nearby, there are loads of these houses around, as the agent points out. Example in Welling Way, just sold stc for £550k which is completely renovated and very modern. You could not turn your identical-shaped house into that for £50k.

I found another similar shape house for sale in poor condition (not as bad as the one you’re looking at) originally listed £600k in September and reduced twice, now at £525k.

Yours has been reduced once: they are chancers.

I would think - what’s the budget to fix this - maybe £100k - and what’s it worth when it’s done - maybe £550k. So I’ll get a full structural survey and offer £450k.

but personally I wouldn’t want the work.

do your Zoopla research, extensively

don’t trust the estate agent- his job is to sell that house, not help you find your ideal home

Too expensive. That downstairs floor area seems to include the garage. I make it only about 63m downstairs.
Otherwise it’s poor. Double glazing was cheap. Unmaintained condition. EPC E. Looks like solid wall as well. Roof looks ok.
Should be 50k -80k cheaper, at least.

Half a mil for what is essentially a damp shell that needs full renovation? No way! You couldn't live there with that damp and mould!

Looks like the railway is at the end of the garden as well

What everyone else said!
You need to do your research really carefully in your area in order to have a good idea of what a reasonable price is, although that might be a bit higher/ lower for you with specific properties. The market is continuing to head downwards slowly, rather than up, so over paying for property will bite you later!

I'm not too far from this area. Considering how much work needs doing I think it's overpriced. Yes, there's potential for extending, but the place needs gutting by the looks of it, new windows, possible damp on that back wall (kitchen?)

Do you already live in the area? Welling and Bexleyheath have rising crime rates. Can't have a nice new car as they're always being nicked.

Are there parking restrictions/yellow lines on the road? This one is close enough to the station and high street that commuters and shoppers will try and park there. Welling high street is nothing to write home about either.

It’s not really a cosmetic doer upper, more a full renovation. That’s not just papering the walls and putting new carpets down. It needs gutting top to bottom. Hope your pockets are deep and you have a long list of reliable tradies.

@DelilahA thank you for your response. I've just seen the one in Welling Way; definitely much better condition and looks like you could move in straight away.

I will keep looking, should definitely find something better. By comparison, the one I'm looking at is definitely overpriced.

I've not idea about the area, so can't really comment on the price. However, it's worth getting a few figures together as to what it'd cost to get it in a reasonable condition and calculate what you can afford to offer. Unless you know there's a lot of interest, you could always make a cheeky offer say £460,000 (if you feel overpriced) with a view to going up to £490,000 (or whatever you can afford).

I'd ignore some comments that it's awful, if you're not put off by the work then it's got good size rooms and the bigger bedroom upstairs could in time had a small ensuite added.

I have one BIG warning. Our house is from a similar era and we have ceilings that look just like these. Ours are asbestos cement panels. they're fine if left alone but if you want to do as much as change a light fitting or remove the woodchip they are possibly papered in you will have expensive problems on your hand

I think this needs at least £100k spending on it. Also two bedrooms on the ground floor facing the street would put me off too

Good news that you've decided against this one @AlexanderAndBenjamin
Don't overpay at the moment, with a falling/ stagnant market. Lots of sellers are over pricing, especially with properties needing a lot of work like this one.

@Sunnyside4 ”you could always make a cheeky offer say £460,000 (if you feel overpriced) with a view to going up to £490,000 (or whatever you can afford)”

That’s terrible advice. £460k is not a cheeky offer, it would be an overly generous offer on a house that’s not worth anywhere near the asking, and needs 100k plus a year or more of disruption doing the work.

Wouldn't touch it with a barge pole.
Full of problems.
Dreadful property, vastly overpriced, please don't pursue this.