folkestonesgull
Active member
If the locations are very similar it sounds like the 3 bed is the best choice. Its fun doing a place up and making it what you want it to be.
Got something to say or just want fewer pesky ads? Join us... 😊
House/purchase advise
- Thread starter poidy
- Start date
sebtucknott
Active member
We bought a house a couple of years ago.
Got it for £250k down from £270k (stamp duty played into our hands)
It was from the original owner (from
new 1960s) and hadn't really been touched.
£10k was enough to completely refurb downstairs inc, kitchen, combi boiler, new radiators, rewire, solid oak flooring throughout and plastering ceiling/walls.
Granted I have a very good builder for £130 a day and I enjoy the work too so probably knocked £5k off using my time.
It's amazing what you can do for not a huge amount of money. We're just starting on upstairs, another 10k inc new bathroom.
House has now been valued at £300k+. We bought it because we wanted to live there not make money. It's surprising the price difference between "done up" and "work to do" most people are lazy or can't see through it.
Got it for £250k down from £270k (stamp duty played into our hands)
It was from the original owner (from
new 1960s) and hadn't really been touched.
£10k was enough to completely refurb downstairs inc, kitchen, combi boiler, new radiators, rewire, solid oak flooring throughout and plastering ceiling/walls.
Granted I have a very good builder for £130 a day and I enjoy the work too so probably knocked £5k off using my time.
It's amazing what you can do for not a huge amount of money. We're just starting on upstairs, another 10k inc new bathroom.
House has now been valued at £300k+. We bought it because we wanted to live there not make money. It's surprising the price difference between "done up" and "work to do" most people are lazy or can't see through it.
folkestonesgull
Active member
The lady currently buying our house (we completely refurbed a Victorian terrace by the sea but need a bigger garden and more space now) is a nightmare, she would not do a thing to a property. People are willing to pay a premium for something that needs nothing to do - if you've got time, some money and vision then the 3 bedder appears to be a no brainer.
SIMMO SAYS
Well-known member
Please send me your builders number---he must be retired to charge that.
£200-£250 a day is more like it!
The amount you can increase the value only really comes into it if you are going to use it as a short term project and don't see yourself staying there long.
Regarding improvements, £10-12k will get you a very nice bathroom and some carpets, etc... If u need to do the kitchen too you'll be looking around £20k. Improvements are more about maintaining value and making the house easier to sell (other than the obvious benefits you will get whilst living there!)
Regarding improvements, £10-12k will get you a very nice bathroom and some carpets, etc... If u need to do the kitchen too you'll be looking around £20k. Improvements are more about maintaining value and making the house easier to sell (other than the obvious benefits you will get whilst living there!)
I assume you mean more.
You don't mean deposit, you mean your offer / the purchase price. It's not really holding it back, as you won't be getting a £235k mortgage. If you think it's under valued, it might be difficult to get it for less than the asking price (but still worth a try).
Yes. It's big money.
It depends on how wisely it's spent. If it's changing a crap kitchen and bathroom, and it's done well, and it doesn't push the property value over the others in the area, then yes, it should add value.
10k is a bargain for that amount of work, I know someone that paid 4k to have a solid oak floor 5 years back.
sams dad
I hate Palarse
**** me Simmo, if you're happy to pay that sort of money, I'll send you my number.
SIMMO SAYS
Well-known member
i sometimes wonder if i should purchase a caravan and move the family in --- i would then purchase a brand new van instead of my 150,ooo mile ducato
SIMMO SAYS
Well-known member
not happy but after forty years i've managed to find some good tradesmen.
They all want a good wage for what they provide.
Customers do not know a good job from a hole in the ground in my experience.
You could park the caravan in Wild Park, Stanmer Park or Brighton seafront, that lot all have brand new Transit vans.
150,000 miles out of a Fiat, pretty good I think.
£200 a day minimum is a good rate for a skilled tradesman.
SIMMO SAYS
Well-known member
There's a lot to be said for the adage "buy to nest, not to invest". It's good to have a property that you know will always be desirable if you need to move but more important to choose the one you like best. Takes a lot of stress out of life when you're not worried about house prices and affordability because you're happy with your home anyway.
The fecking gearbox is fecked
Try driving without first gear---------£1300.00 to FIX
Don't go up Bear Road and stop.
SIMMO SAYS
Well-known member
Don't go up Bear Road and stop.
Coombe Road and Franklin Road is a BITCH
Plus my two girls need to be dropped off in Lewes every day --- How hilly is that
nwgull
Well-known member
I'd buy the larger house and do the necessary improvements. If it's your first place, the chances are you'll want to move on in 5 years, so re-sell value is definitely a factor. There's nothing wrong with looking at your property as an investment.
Without seeing it, I'm going to guess that 10k maybe a bit of an underestimation though.
Without seeing it, I'm going to guess that 10k maybe a bit of an underestimation though.
D
Deleted member 18477
Guest
In my opinion from what you've said... I'd go 3 bed...
Thunder Bolt
Silly old bat
sams dad is a very good builder.
Coombe Road and Franklin Road is a BITCH
Plus my two girls need to be dropped off in Lewes every day --- How hilly is that
No wonder your van has had it, what's the Lewes trip a school run?