Viewing / Buying a house

[Demitri_C]

4 hours ago, rodders0223 said:

Looking to move house, saw a property of interest. Good location but run down and dated and a fixer upper.

It's on for 285k I think.

Now I looked into the history as I presumed an old couple lived there judging by the lack of work on the kitchen, the awful old fashioned carpets and general disrepair.

No, this was bought in 2018 for 220k and looked more modern then.

"We bought a house for 220k, ripped a load of stuff out making it worse, put in horrific carpets and wallpaper, and let the outside areas fall into disrepair, garden a shambles, patio moss filled, veranda moss filled and garage and sheds doors falling apart. Now give me 65k."

285k for how many beds?

[foreveryoung]

4 hours ago, rodders0223 said:

Looking to move house, saw a property of interest. Good location but run down and dated and a fixer upper.

It's on for 285k I think.

Now I looked into the history as I presumed an old couple lived there judging by the lack of work on the kitchen, the awful old fashioned carpets and general disrepair.

No, this was bought in 2018 for 220k and looked more modern then.

"We bought a house for 220k, ripped a load of stuff out making it worse, put in horrific carpets and wallpaper, and let the outside areas fall into disrepair, garden a shambles, patio moss filled, veranda moss filled and garage and sheds doors falling apart. Now give me 65k."

There's loads of these about, people making a quick profit, by ripping the original owner off, putting some budget carpet in, polyfiller for the subsidence crack and putting up for  30k above market value, still sells.

All started from watching homes under the hammer.

[StefanAVFC]

3 bedroom terraced house for sale in Nelson Road, London, SW19 (rightmove.co.uk)

Bargain if you ask me. Cash only.

[Genie]

8 minutes ago, StefanAVFC said:

3 bedroom terraced house for sale in Nelson Road, London, SW19 (rightmove.co.uk)

Bargain if you ask me. Cash only.

Someone will buy it, spend £100k on it and then relist it for a million.

[Seat68]

12 minutes ago, StefanAVFC said:

3 bedroom terraced house for sale in Nelson Road, London, SW19 (rightmove.co.uk)

Bargain if you ask me. Cash only.

 

[Mark Albrighton]

Oh the bathroom is downstairs I see, will have to spend a bit to sort that, first negative.

[Seat68]

10 minutes ago, Mark Albrighton said:

Oh the bathroom is downstairs I see, will have to spend a bit to sort that, first negative.

The stairs wallpaper will need changing, its a bit dated.

[Genie]

“a great opportunity to put your own stamp on the property”

[rjw63]

4 hours ago, StefanAVFC said:

3 bedroom terraced house for sale in Nelson Road, London, SW19 (rightmove.co.uk)

Bargain if you ask me. Cash only.

"In need of modernisation".

In need of demolishing morelike.

[Xela]

10 hours ago, Genie said:

Someone will buy it, spend £100k on it and then relist it for a million.

Desirable post code!

[Demitri_C]

Easy 100k to fix that up minimum 

 

[foreveryoung]

They have demolished a huge dated house and big bungalow not to far from me, cleared the land, an now have just the land up for sale. It shocks me that there is a profit in knocking a 6-7 bedroom house down worth north of 1.5 million and a bungalow worth around 1 million and now just selling the land it was on for more money than the houses were worth standing?

[Xela]

40 minutes ago, foreveryoung said:

They have demolished a huge dated house and big bungalow not to far from me, cleared the land, an now have just the land up for sale. It shocks me that there is a profit in knocking a 6-7 bedroom house down worth north of 1.5 million and a bungalow worth around 1 million and now just selling the land it was on for more money than the houses were worth standing?

Rosemary Hill Road? Quite a few big houses have been knocked down and rebuilt along there over the years. Roger Moore used to own a house on that road apparently. 

[Davkaus]

12 hours ago, StefanAVFC said:

3 bedroom terraced house for sale in Nelson Road, London, SW19 (rightmove.co.uk)

Bargain if you ask me. Cash only.

I didn't think it was too bad until it got to the fetid swamp they call a bathroom. Jesus christ. Nothing short of knocking that down is getting those smells out, surely.

 

[Xela]

19 hours ago, Davkaus said:

I didn't think it was too bad until it got to the fetid swamp they call a bathroom. Jesus christ. Nothing short of knocking that down is getting those smells out, surely.

 

I've shat in worse. 

[foreveryoung]

22 hours ago, Xela said:

Rosemary Hill Road? Quite a few big houses have been knocked down and rebuilt along there over the years. Roger Moore used to own a house on that road apparently. 

Talbot avenue off Little Aston Road. This is one of the houses they knocked down, just to put the land up for sale, shame really could have been a awesome house refurbed.

Pardon the resolution I'm in my phone.

[Stevo985]

On 14/11/2023 at 21:03, foreveryoung said:

They have demolished a huge dated house and big bungalow not to far from me, cleared the land, an now have just the land up for sale. It shocks me that there is a profit in knocking a 6-7 bedroom house down worth north of 1.5 million and a bungalow worth around 1 million and now just selling the land it was on for more money than the houses were worth standing?

I assume everyone who buys houses round there will be demolishing and rebuilding anyway. So wouldn't surprise me at all if having the site cleared makes the site more valuable.

[omariqy]

In a bit of a predicament. Sold (STC) our house initially for just over asking price (c£2.5k over) in August. The market is so slow that it took us ages to find anything and we pulled out of one because of some issues that came about during the searches. Anyway we found another property which is perfect in late November. Towards the end of December the people buying our house suddenly went quiet and pulled out. We put the house back on the market just before Xmas and we've managed to get two offers in but they are well below asking (c£12k below). Therefore, we are now £14k worse off than we were in August in terms of cash in the bank. Not sure whether to accept this offer or wait it out. The issue is that we will probably end up losing the property we have had an offer accepted on. It's perfect for us in terms of location and size etc. However, we plan to spend c£70k to £90k on it and the hit on the finances will mean we probably have to extend our timeline to another year before we can finish/start the work. 

[Jenko#4]

6 hours ago, omariqy said:

In a bit of a predicament. Sold (STC) our house initially for just over asking price (c£2.5k over) in August. The market is so slow that it took us ages to find anything and we pulled out of one because of some issues that came about during the searches. Anyway we found another property which is perfect in late November. Towards the end of December the people buying our house suddenly went quiet and pulled out. We put the house back on the market just before Xmas and we've managed to get two offers in but they are well below asking (c£12k below). Therefore, we are now £14k worse off than we were in August in terms of cash in the bank. Not sure whether to accept this offer or wait it out. The issue is that we will probably end up losing the property we have had an offer accepted on. It's perfect for us in terms of location and size etc. However, we plan to spend c£70k to £90k on it and the hit on the finances will mean we probably have to extend our timeline to another year before we can finish/start the work. 

Two things stand out here>
 

Firstly, you describe the property you are looking to buy as ‘perfect’ They don’t come around too often…

 

Secondly, you say that because of the finances, any work will be delayed by 12 months. Based on past experience, and without knowing what work is required , I would say that is a good thing. You will regret going into a house on day 1 and gutting it without getting a feel for living there first. You now have time to learn how the light falls, where the sockets/switches need to be, warm/cold spots etc. That 12 months may save you a lot of time and money in the long-term, particularly if it is a house for life. And if it is a house for life, what is 12 months anyway? 
 

When we moved into our house it looked like a crack den. We rode it out for 12 months before doing anything significant, and then did the heating, plumbing, electrics, replaced the kitchen and took the entire downstairs back to plaster. We now have everything where we need it, and it was worth the wait. We will then do the same to the upstairs in a couple of years time as we are not planning on moving. 

[tinker]

7 hours ago, omariqy said:

In a bit of a predicament. Sold (STC) our house initially for just over asking price (c£2.5k over) in August. The market is so slow that it took us ages to find anything and we pulled out of one because of some issues that came about during the searches. Anyway we found another property which is perfect in late November. Towards the end of December the people buying our house suddenly went quiet and pulled out. We put the house back on the market just before Xmas and we've managed to get two offers in but they are well below asking (c£12k below). Therefore, we are now £14k worse off than we were in August in terms of cash in the bank. Not sure whether to accept this offer or wait it out. The issue is that we will probably end up losing the property we have had an offer accepted on. It's perfect for us in terms of location and size etc. However, we plan to spend c£70k to £90k on it and the hit on the finances will mean we probably have to extend our timeline to another year before we can finish/start the work. 

Speak to seller of your new home and see if they will absorb half the 14k. Just be open and honest, they won't want to relist as the chances are they will have to drop their asking price.