Owning your own home

Use the one from the mortgage survey, unless you've had a more comprehensive survey since.

The rebuild cost is not what you paid for the house. Assuming you are freehold you already own the land so the cost of building a house is much lower than the sale price.

Yeah, got that. The rebuild cost we have is a little lower (about £25,000) than the figure the previous owners used in their insurance policy, just wanted to check I'm not missing anything obvious!

Presumably surveying isn't an exact science hence the difference in the figures?

You should be provided a Re-instatement cost in the mortgage valuation - This is what you provide to your insurers. They don't care how much you bought it for, only how much it would cost to build again.

That's what I said to the missus

I think I know the road - how busy is it? The hallway is what got me interested. Could be a bit of an epic job but would look smart when finished

I'm down the bottom of Norlington Road. You turn left at the mini roundabout on Hainault Road as you are approaching Leyton High Road.

That tiled hall floor would look the absolute business. Having said that, you could probably pay to have one installed for I'd estimate around £4K. Really gives a nice impression when you walk into a Victorian house. If I had the cash then I would.

What would £200k do for this?

I'd say £100k would gut it, re-wire, re-plumb, re-plaster and put it back to a livable condition. Probably needs a new roof as well.

Another £100k would put in a nice kitchen, maybe a side extension and a second bathroom.

Idly speculating as I think that would be about what we could afford to put into it if we sold our current house. I suspect transaction costs, being further away from vic line and liverpool st line and the general hassle would put me off.

But being able to start almost from scratch as an appealing project.

Yes, I've seen how adding nice finishes and fixtures and fittings and ovens etc can soon send costs south in a big way.

I haven't kept track of what we've spent on our current house over the last 14 years but it's quite a bit and it's not finished yet.

The idea of being able to do everything at once is attractive, but then the idea of getting half way through and having to borrow money is less so.

£100k? When do you want me to start? I reckon I could train as a plumber, electrician and plasterer and still have change.

New heating would be less than £10k.
A rewire maybe £5k.
Hack off and replaster every room £10k max.
Decorate £5k

A new roof well under £20k, maybe nearer £10k.

You're all forgetting,it is just off what is now called 'Leytonstone village' been here 10 years and can't believe what has happened to the prices around here!

Edit...sorry.....'leyton village' and not far from Francis rd

I'd say more for the plastering.

Add new floors throughout.

Add £5k for nice radiators.

Add £10k for nice windows.

I think we are at about £80k now.

Gold plate the door hinges.

Touch screen telly in the bathroom.

Underground tunnel to 'spoons.

Russian rent boys and poppers every Friday for 6 months.

Yeah, you're right £200k.

The size of the place would cost and that before you unearth anything scary!

I think you could probably make it pretty special for £200k but I'm not sure if it would be worth more than £1m after that....

I don't think you are talking big extravagant stuff to spend that kind of money, just decent quality that you would want in a quality family house.

Yes, you could do it cheaper. But if you want to live in Barrat homes style, you don't buy a tumble down Victorian townhouse in the first place.

All just my opinion, all I'd say is that I did buy a 5 bed tumble down Victorian townhouse 14 years ago, and I have the bills to prove it.

Fair point and probably right.

The resale value wouldn't be my reason for doing it.

Same as where we are now; we've only done what we've done to make it a nice place to live in.

Mine either, just when I did the maths on it I wasn't sure if it would stack up as I'd probably turn it into a 4 bed

I reckon you could chip the price a fair bit as you're bound to uncover some stuff but I'd want to get it for close to £700k...

Can anyone recommend a carpenter - norf london? Need some cupboards and bespoke shelving to finish the flat.

£100k? When do you want me to start? I reckon I could train as a plumber, electrician and plasterer and still have change.
New heating would be less than £10k.
A rewire maybe £5k.
Hack off and replaster every room £10k max.
Decorate £5k

Pretty much what I've spent the last year doing. I did a full rewire (some leccy experience and have a qualified pal), all the central heating bar the boiler and took a plastering course. Got builders in to do a shell extension, we've spent circa £80k (15 of which was windows and jazzy sliders,) but easily put £200k on the house. We won't be moving for a long time, too much blood and sweat invested.

Popped into Theydons this morning. It's sold apparently

ah - that solves that problem! didn't hang around long...

just hope it doesn't reappear as two or three horrible flats.

Yes, except not as well built. It's surprising that so many of them are still standing.

You don't live in London do you? ;)

only on one side, in my case, which explains why there are uphill and downhill ends in most of the rooms.