We saw a great house in west London this morning (zone 2). The problem is it is at the top of our price range and needs a lot fo work as the old man who owns it lived there for 30 years without doing a thing and rented out 3 rooms as bedsits. Before we put an offer in we need a ball-ark figure for renovation costs and we have never had to do work on a house before.
The house needs no real structural work but its kitchen is a dump and would need ripping out, refitting and a glass wall would be nice at the back. Another kitchen upstairs would need ripping out and replacing with a bathroom and bedroom (so a wall would need building). The other two (small) bathrooms would need totally replacing. A wall would need knocking down between two bedrooms to make a double reception and the other 3 bedroom would need decorating (with new carpets, stripped wall paper etc).
So, are we looking at 40k or 140k??? We would ket kitchens and bathrooms from places like Ikea to save money.