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Post divorce etc, I'll likely be looking to buy a house sometime in the next 6 to 12 months, and for various reasons want to buy a project house (mainly to be able to afford a better house and also add value to it).
Ideally it would be something in good order structurally and be habitable but need a full redecoration / kitchen / bathroom etc.
What is a good route to look for houses like these? Just Rightmove, or what other suitable places to look would you recommend ?
Cheers !
Mark
What is a good route to look for houses like these?
Funeral parlors?
Depends on locality.
Project houses round here cost as much as a finished house (invariably finished to someone else's taste )
Solicitor said yeah they house doesn't have much value in its self round here it's the land and the location of the land.
When I was querying making a lower offer due to the significant work needing done to a house when there were new or near new builds of similar size going for less across the road in the scheme.
I have seen a few on espc - but thats central scotland mainly
Rightmove
Prime location
On the market
And keep looking.
What area are you, look and see who does the local commercial as well. Try calling a local agent see who does the repo work
Rightmove will be your best bet. Also you might want to check out your local Facebook market place.
I made an off the cuff google of "properties in need of renovation in the scottish borders" it was dome kind of aggregator website compiling any listing with busswords.
Then accidentally purchased a flat.
It still has livestock on the kitchen wallpaper... 5years in.
We're looking for a house in York currently. There are numerous for the £400k > £500k mark that would benefit from being firebombed. Lots of old people's houses with 40/50 year old electrics and heating systems etc.
Crazy though that even for that money, people are falling over themselves to snap them up. We're looking at one tomorrow in that price bracket and there are at least 8 other people lined up to see it today and tomorrow.
We nearly did this a few years ago (on more than one occasion) and used a local agent that specialises in auction houses. (Feather, Smailes and Scales in Harrogate)
We got as far as bidding at an auction on one and $&^$ing hell - it's like Ebay on speed - my heart rate was through the roof as I bid (we ultimately didn't win the auction though).
I'm selling mine, buy it. East Lancs, circa £65k. #StealthAdvert
I had six viewings booked before it was advertised anywhere other than the For Sale sign in the garden. It went up on the website on Thursday and that generated another five viewings on Saturday along with more to come this week, and I think there's like four or five offers in (though a couple are blatant pisstakes, of course I'm going to knock 25% off the price a house that's been on the market for two days). I'm frankly astonished at how fast it's all moving, I thought there'd be no interest at all.
A property a few doors up the road sold for 60k in 2018 and the last time I walked passed it pre-virus the front door was open, I could see right through front to back and it was down to the brick and bare floorboards, they'd gutted it (so can't even argue that theirs had a nicer kitchen or something).
Done up nicely the ceiling on resale afterwards would probably be about 90k I reckon.
If only you were looking for a four bed victorian terrace in high wycombe 🤔
https://www.rightmove.co.uk/property-for-sale/property-66551262.html
* wife & her ex's house and needs doing up
Rightmove, become friendly with the better agents in the area
Move quickly and be brave with your offer & make sure you're in a better position than anyone else
Auctions.
Preferably ones happening 50 miles away from the property, my dad got my sis a right bargain that way and did it up for her. I guess no one local could be bothered to go.
Oh and you need cash so you can move quick. That will help.
Dickyboy, clickbait. That house does not a do-er upper!
Everyone else is looking for doer-uppers. They've watched Beeny/Clark/PhiRsty/McCloud.
There's about to be a proper renovation project, complete with structural issues, next door but one to us in Dunblane. 3 bed detached. Likely £200-230k and you'll need another £60-80k to do it up.
A couple of years ago we were looking for houses like that. But what we found was that they were in high demand as there were loads of dads with big retirement funds and sons with some building skills wanting to make a few bob.
I priced a few up and in some cases they were going for as much as a good condition property in the same area.
I priced a few up and in some cases they were going for as much as a good condition property in the same area.
This.
The big advantage of a do-upper now in my view is knowing it's been done right. So many 'renovated' houses look good but have dodgy plumbing or wiring, a roof at the end of its life etc.
Cost wise, I just don't get the maths of so many renovation projects now.
Oh and you need cash so you can move quick. That will help.
It won't 'help', it's entirely necessary. In my experience it's normally a binding 10% of the sale price to be paid immediately (as in before you leave the auction house) upon having a winning bid accepted. If you cannot complete the sale, the 10% sails away too.
By being a builder.
By getting in with the estate agents.
By having a few hundred k of cash.
Just my experience of looking around and a couple of auctions.
We had none of the above, and ended up just buying a house.
Other better more complete and probably more professional experiences are available.
Cash cash cash in your bank and good to go. I spent most of last year on a doer upper, my third and thought this year I'll have loads of trips away, bugger.
Deffo a bit of a mini boom at the moment, plus the govt reported to be having a sdlt holiday it really looks like an imminent bust given unemployment forecasts.
Most well priced houses sell within days, I like the all original ones as you can see what you are getting. Retrotastic kitchens and bathrooms, swirly carpets.
Cost wise, I just don’t get the maths of so many renovation projects now.
Me neither - my neighbour in the semi attached to us must have spent the best part of £100k completely gutting the place. We know he paid £140k for it and even on a good day now most they are worth is £180k. It's a 2.5 bed semi with no parking and not very big garden.
Dickyboy, clickbait. That house does not a do-er upper!
Well it needs new windows, doors, kitchen and bathroom & is priced £30k cheaper than the non doer upper down the road, admittedly it doesn't need a new roof..
Needs a bit of work...
must have spent the best part of £100k completely gutting the place. We know he paid £140k for it and even on a good day now most they are worth is £180k.
This is common I think.
Just as common as the house renovation programmes who always have ex-display kitchens at cost, structural changes for next to nothing and £20 of paint per room...
Me neither – my neighbour in the semi attached to us must have spent the best part of £100k completely gutting the place. We know he paid £140k for it and even on a good day now most they are worth is £180k. It’s a 2.5 bed semi with no parking and not very big garden.
But people don't always buy as an investment, sometimes it's to get a home the way they want it. We moved up seven years ago and have spent a considerable amount on our home but it's now (mostly, let's not discuss the utility room) just as we want it, not someone else's idea of a nice environment.
sometimes it’s to get a home the way they want it.
This. Biggest mistakes I've made doing up houses was thinking about the next owner - do it for yourself and enjoy living in it as you want it.
This. Biggest mistakes I’ve made doing up houses was thinking about the next owner – do it for yourself and enjoy living in it as you want it.
That.
As you'll see from the smoke removal thread you'll see I've basically done a full strip and rebuild.
And we have added/are adding 2 extensions and made it good for us. We could have added a bedroom.or an ensuite and added value but we chose to add a utility room and a sun room come dining room...... It will add minimal value in notary terms but the location made it worth me refurbng and adding the bits I wanted.