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the place we looked at has been on the market for 2 months and according to the EA, there's been some interest but fuck all offers. it really is a state inside, which would explain the reticence for buyers to commit (beige tiles everywhere, walls that want knocking down, stippled wallpaper, hasn't been redecorated since the carter administration) but the lovely old dear that has lived there for the past 20 odd years just wants to gtfo, so realistically we could go in with a low ball offer and snap up a house for under 500 000 notes in se26.
we've been tossing 80,000 notes as a rough figure for redecoration for shits and giggles.
obviously a structural survey could reveal that the place is sinking into the earth, who knows.
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As long as it's sound, seems like a very reasonable plan and budget to me.
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It's totally a thing.
Having a small house that needed 60k spending on it in West Hampstead beats having a huge flat in a lovely factory conversion in Hackney Central that's for sure, because now we get to live in West Hampstead instead of Hackney.
One of the best decisions I ever made.
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You could buy yourself a chain-free 3 bed house, with a garage, private parking space and small garden - 5 minutes from the tube in Brixton and no work/renovation required - for £600K. And have the added bonus of me as a neighbour...
Vanneau
bq
Markyboy
The problem with shitty looking houses in desirable areas is they tend to be snapped up by investors / developers.
It's difficult to say what a renovation would theoretically cost. Assuming that you had to redo the roof and stump up for things like plumbing and electrics too you might, very roughly, be paying a contractor 50k for a basic job up to 80k or more for something a bit higher spec. But it depends where you are and how knackered the place is.