Owning your own home

Anyway - home automation. Is there a thread for this?

I'm doing programmable light bulbs and radiator TRVs and the moment. Anyone else?

Yes, thread here;

https://www.lfgss.com/conversations/260435/

Ta!

Thanks. I have an incentive to sell within 3 years as I could then claim back the additional home stamp duty I'm about to fork out for our new home. A rather eyewatering 21k. So I may just say screw it in 2 years and sell up, get that dosh back and live a simpler life. In which case the lease extension may be bad economy?

Maybe I should just decide in 2 years, the cost of extending in 2 years time probably won't be much different to now anyway.

The freeholder (management company) have guidance on lease extensions and have set out their procedure (preference for informal negotiation), and others in the block have done it, so in theory it feels like it would be a fair process.

Their wording is "If your valuation is undertaken by a RICS valuer, it's in line with estimates and they can send a copy of the valuation directly to us. We’re happy for you to go ahead at the cost they propose."

You should sell your place now and save yourself the hassle, frankly.

What's the estimated rental yield on it?

My concern is that you are betting a considerable amount of money that the market will improve in 2/3 years when there's not much to suggest that will happen. And you'll end up having to sell to claw back the stamp duty.

Inbetween you'll have all the hassle and responsibility of being a landlord whilst getting a 5,6,7%yield (or whatever) and no or negative capital appreciation.

FUNTIMEZ.

Speaking as a new buyer who bought a place with a 67 year lease earlier this year, I'd have been fine with a 90 year lease. Everything I read indicated that it was the point where the lease gets under 80 years that's the place where it begins to impact the price, so I would not have considered extension to be part of what I wanted you to do, and I wouldn't have requested a cut in asking price on that basis.

I suspcet most buyers will see it the way I saw it.

I'm wondering how TS's neighbor is going to fix their cladding without paying for the boundary fence to be temporarily removed

Pretty much exactly what our surveyor said to us. C18th stone terrace with partial flagstone floor laid directly on earth, inadequate underfloor ventilation and high ground levels outside = damp floor (and to a lesser extent, walls). He did say that lifting the flags and lining underneath was an option but would most likely drive the moisture into the walls. His recommendations were to sort the ventilation (currently has vents only at one side of the house), use the wood stove and keep the heating on.

Don't want to sell now as market is just pants.

Yep its a lot of hassle but I also see it as a new experience worth giving a go. Maybe we will keep it for a long time as an investment.

Yield isn't great, 4%ish.

FIRE HAZARD!!!!

I'm quite annoyed about the whole thing and am readying myself to be quite unreasonable about the whole affair...

Yes, quite...

Don't even ever ask me. IANAE.

But probably.

Do the others say similar with 6s and 16s and stuff at the end?

Regardless, you'll be upgrading at least the breaker and quite probably the cable.

Sounds good advice.

I grew up in a house with pretty similar construction (solid stone walls, quarry tiles just laid on earth etc). Adding a (supposedly) 'breathable' limecrete floor with underfloor heating and proper ventilation has transformed it, it's now actually warm and the condensation is a lot better.

🌭🌭🌭🌭🌭🌭🌭🌭

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Don't want to sell now as market is just pants.

Yes but you are buying. People are buying. They just want a brexit discount. Which is fair enough. You are getting yours when you buy, so selling at what will feel like a discount will actually kinda work itself out.

In terms of the money side, who is advising you to do this? Unless you get capital appreciation it's not - in my opinion - worth it for a 4% (net? gross?) yield.

You could be waiting a long time for capital appreciation.

Feel free to PM me or if you want to meet up to discuss.

"I found the copy of the installation certificate dated October 2010 and can see that your shower has only a 4mm cable. This has a maximum capacity of 30amps. The 9.5 kilowatt shower will need 40 amps and at least a 6mm cable which has a capacity of 39amps. If you are to upgrade the cable I would recommend a 10mm cable (51amps) as you could then utilise the largest instantaneous shower available which is 10.5kilowatts.
These figures do take into account the length of run or if its trough insulation etc."

Go big or go (to a burned down) home!

https://www.toolstation.com/shop/Electrical/d190/Cables+%26+Flexes/sd2730/Twin+%26+Earth+Cable+%286242Y%29+Grey+10m/p88694

Not suggesting you diy.

I've booked a professional. I lose interest when I have to start cutting through walls or playing with consumer units.

Sensible approach.
Upgrading the mcb in the Shower consumer unit,
or,
can it handle the 51 Amp rated cable?

No idea. That's gonna be his problem.

If he installs the upgraded cable then at least I will have the ability to install a new shower if the 9.5kw tank won't work.

Ohh... Just wait for the extra money when they earth bond all the metal work in the bathroom.

;)

It’s his plastic consumer unit I’m worried about. That’ll have to go.

And all the cabling in the 'exit routes' will have to have metal clips instead of plastic ones.

Scratches chin. Makes sucky noises.