What works does this house need?

[mumtobe245]

We are considering buying this house - it is of good size and in the right location. It does however need a lot of work to be habitable.

We’ve got about 1.5 years, and a budget of £100k to do it up before we move back to the UK and live in it.

What works do you think the house needs before we can move in, based on what you can see? For context, we are a family with 3 kids aged 2, 5 and 8.

https://www.rightmove.co.uk/properties/174359255

We did a total renovation of a derelict house in London a few years ago and I agree with both of these. We did get the 5% VAT allowance, which helped, but I don't think you're going to touch the sides of this house for under £500k.

I would add your renovation budget to your purchase fund and see what you can find that's closer to done, at least structurally.

One thing you also need to be aware of is inflation. In the week this thread has been running estimated costs have risen from £100k to £500k 😂

Lol! The estimates are getting a bit crazy now!

Only the OP thinks it can be done for £100K.

I genuinely don’t think the estimates are crazy for the amount of work that needs doing. I think around £500k and that is without going crazy and getting a top end kitchen etc…

100k to redo the whole house (plus with all that damp) is unrealistic .

I know what we ended up spending, so from that perspective it's really not. Additionally, if the OP lives abroad, they are going to need a project manager at least. And if you're starting from scratch, which is what this is, you want to figure out the most efficient heating system, etc. I'd also put money on it needing a new roof.

It could be a lovely house, though, and I'm less bothered by the street view than others.

To be fair, I think @TheDorisCollective's post was light hearted and I was just responding to what I thought was a funny comment.

I can imagine you could easily spend £500k on that house but you could also spend a lot less. Depending on what you wanted to achieve and the OP hasn't really said that. There are lots of unknowns too which might mean money pit but maybe not. I do agree though that trying to oversee it from overseas would be very difficult.

There are lots of unknowns too which might mean money pit but maybe not.

That house has got "moneypit" written all over it. For a start, how/where are you going to put the second bathroom?

In between the two bedrooms at the back?
Or downstairs?
The rooms are big - especially for London - so I'm sure you could get one in without too much trouble.

So you end up with one double bedroom and three singles, or at a very tight squeeze a second double.

Downtairs - there is no way to create a modern, usable kitchen without taking at least one section of wall down and putting in a steel. And a supporting steel, by the looks of it.

For me, they would all still be double bedrooms but we obviously disagree on that. To be honest, it doesn't really matter, does it?
There would be a way of putting one in but it would mean compromise, that is just a given when renovating property.

Fine. Let's put the bathroom between the two back bedrooms.

So now there's a whole load of new plumbing to do, a bathroom to fit, and a stud wall to build. Tiling to do. Flooring. Heating.

Plus the current bathroom would need refitting, and knock down the wall to incorporate the existing loo into it.

Then there's the kitchen issue downstairs.

Then the radiators that need replacing throughout the house. Flooring throughout the house. Rewiring.

Before we even get to the replastering that the whole house needs.

I'm tending to agre with the "upwards of £300K" people. More like £400K.

Oh, yes, I agree it was lighthearted (and the inflation comment was funny). I just think they'll spend the entire budget just dealing with systems and structures before they get to anything cosmetic in that house.

Imo, the only way that house renovation makes financial sense is if a builder buys it and does it.

I'd be surprised if those ceiling tiles in (I think) picture 10 don't have asbestos in them.

I am surprised how much asbestos was used in construction until relatively recently given that is was known to be dangerous in Roman times

A friend of mine renovating a house close to here, has found asbestos three times now

Lovely house to look at from outside, but for me the location is not good for privacy or parking. I'd need to have a walk around the area at a few different times to see what's going on around me. I don't see much added value to doing it up if you are stuck on a corner with restricted access for parking. That's a huge consideration isn't it? I'd hate disc parking and hunting for a space every time I got home! Look, to others that might sound like me nitpicking, but it is important.

So I'm not sure I'd be enthusiastic about spending a fortune doing it up. It has potential, but as long as you are realistic about the cost of renovation and the other issues, well, I do wish you the best of luck!

I think I'd hang on and try to find something over the Summer. The market is cooling a bit, and you could get something for a decent price with not as much work needed.

Would you need a mortgage? Would be difficult since it looks like there's no usable kitchen.
I have just sold my late DM house and the kitchen is like this. Just a sink. The buyer has got a mortgage for it.

I would not touch that - not without a really thorough survey. I would say it is overpriced and the 2/300k needed to renovate would not make that house a worthwhile investment. It looks like a money pit which has had very little done to it in the last 20 years.

Also - the solar panels on the roof? I don’t know how this works these days with who they belong to. I’d be worried about the rounded bay, along with other issues most posters have identified. However much you spend, I still don’t think it’ll ever be an attractive or homely house.

Electrics (full rewire + consumer unit) £8,000–£15,000

Plumbing overhaul £6,000–£15,000

Heating system (boiler + radiators) £4,000–£10,000

Plastering and internal prep £15,000–£40,000

Decoration throughout £5,000–£15,000

Kitchen (mid–high spec fitted) £20,000–£45,000

Bathrooms (2–3 rooms) £15,000–£35,000

Flooring throughout £10,000–£25,000

Windows and external doors £15,000–£35,000

Structural repairs and damp works £15,000–£40,000

Layout changes (knock-throughs etc.) £10,000–£30,000

Garden and external works £10,000–£25,000

Professional fees (architect/engineer/planning) £8,000–£20,000

Contingency (10–15%) £25,000–£50,000

Total low end/full renovation range: £180,000–£300,000

It’s a great house. £150k should be enough if you can do the final decorating yourself?

We have entered a period of deflation.