Realistic renovation?

[Bingobongoflower]

I realise this is a how long is a piece of string type question! We viewed the below property a while ago and are basically arguing whether bringing it to scratch is doable for around £80k.

https://www.rightmove.co.uk/properties/156295658?utmcampaign=property-details&utmcontent=buying&utmmedium=sharing&utmsource=copytoclipboard#/&channel=RESBUY

It needs a full rewire and update to current central heating system. We would plan to take down the wall between the kitchen and dining room (stud wall) and between the master and bedroom 2 to create a walk in closet. Is this realistic? Appreciate new kitchens and bathrooms are a bit of an unknown but we wouldn’t be going high end. No extension.

Any advice welcome!

In our experience, houses with older wallpaper end up needing to be plastered to give the walls a nice finish. That impacts coving and skirting boards which start to add to the cost.
A full rewire can be expensive and also results in various patch repairs (at best).
Central heating systems are often not as expensive as you'd think. Boilers are a couple of grand but if you are leaving radiators where they are then that's about it really. If you're sure the wall you want to remove is a stud wall then that won't cost much to take down but I'd get that checked - if it needs a steel that will immediately add a lot to your budget.
Overall I think 80k should be fine based on where you are - if you were in London / south then I'd say it was a bit of a stretch.

Yes I think we very much expect to replaster as well. I wish we were more handy ourselves but I think we will be limited to being able to strip the walls and rip things out.

I think as well we could live without doing the utility room and downstairs loo right away and would just go for ikea units in there.

I think that is doable. Especially if you did a lot of the ripping out and prep work yourself. It is totally liveable the way it is as well while you get the work done.

I would think twice about removing a bedroom though. Unless it's your forever home.

It is. Forever home and no children (not going to happen for us sadly) so we feel like we want to make something that’s just for us.

It might not need a rewire. It's not that old of a house and you might get away with getting the electrics checked and a new up to date a safe fuse board and consumer unit.

Full rewiring is rarely needed. Pulling out every wire behind every wall in the whole house is very expensive and the physical wires themselves are the same as 50 years ago. Just upgrade the fuse box and replace any sockets that look old.

We have renovated a few properties, the budget you have in mind seems fine, I would expect it to cost substantially less if you can do some of it yourself, perhaps decorating, garden, of course for electrics, plumbing and plastering we always have trades. It will be a lovely house. Good luck OP.