Owning your own home

It just has to survive for another five years

I hear that a lot. Usually I'm back 5 years later to fix another bit!

@Brommers unless signed meaning once you have exchanged? Cheers

Who owns the property if someone lives there under Lifetime Tenancy?

Who was looking in Bristol BS5 way (other than me) - any luck? 2 cyclists went in after me on a viewing today which made me think.

Getting frustrated with ringing an agent the same day a house goes on rightmove, them saying we have had 40 calls this morning, can't fit you in and then taking the rightmove ad down. I'm registered with most of them so tend to get an email ahead of time. Also bonkers how you a house will go up, there will be 2 full 9-5 days of viewings then a further 2 day's later it goes to best and final. Estate agents in Bristol must be raking it in.

Saw this today and it was a perfect house. Street wasn't the best one in Easton (comparing to Colston Rd, Chelsea Park, Stanley Park, but still looked fine) but that is why it's not 40-50k more. Close to St Mark's Rd, Stapleton Rd station but quiet.

Will sleep on it (had 15 mins in the place only...) but highly likely to offer asking (FTB, extremely healthy deposit, flexible (seller hadn't found one and apparently can't view houses in Bristol until his has a sale agreed)) as a BAFO. Do you offer on furniture at the same time?

Garden shredder chat. I can confirm that the replacement blades you get off eBay are "cut the tip of your finger off without even noticing" sharp.

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Next of kin - all in agreement as one party is moving closer to family

Belter

Friends of mine went to see that yesterday. Reckons it'll go for over 350

We're probably going to be moving out of our place in the next couple of years. It's a nice-looking place of a good size, but despite us having chipped away at a lot of the things it needs doing, there's still a fair bit of work it needs.

Which of these, if any, are worth doing in terms of being likely to pay for themselves when it comes to selling?

• Roof insulation in the loft rooms (they're freezing in winter, stifling in summer)
  
• Radiators in the loft rooms (inefficient without the above, but might make it more bearable for a lower price
  
• A decent sized family bathroom in place of one of the bedrooms
  
• A renovated small bathroom in the place of the current ugly tatty small bathroom
  
• Stairs that no longer creak
  
• New windows (it's a corner house with two sets of double bays)
  

@popdown ah fuck sake there's me prices out at the asking price. If it was on a slightly better road could easily see that but the road isn't as nice as others in Easton. These flats don't look too bad but they are 2 doors down

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Small bathroom only out of that lot I would say.

In terms of adding value when selling:

1. Roof insulation in the loft rooms (they're freezing in winter, stifling in summer)
   Not worth it
   
2. Radiators in the loft rooms (inefficient without the above, but might make it more bearable for a lower price
   Not worth it
   
3. A decent sized family bathroom in place of one of the bedrooms
   Maybe worth it, depending on whats sold in the area, and what it'd cost all in with re-plumbing, maintaining water pressure etc
   
4. A renovated small bathroom in the place of the current ugly tatty small bathroom
   Will probably add value if you can keep costs sensible
   
5. Stairs that no longer creak
   Can this be done by nailing existing planks? or will it require something more drastic?
   
6. New windows (it's a corner house with two sets of double bays)
   If they are nice original bays, just paint them and make the existing look nice
   
   

Id caveat all the above- it depends what the market is like when you come to sell, and what buyers in the area are looking for . Looking at recent sold prices and listings online will give you an idea of what local buyers are after, and what improvements have realised higher sale prices on recent sales

None of them if looking at pure roi - better off sticking the cash elsewhere I’d wager

But which of those would improve you life for the next 1,2,3 years ?

Lick of paint for the small bathroom.
Stairs if you can easily / cheaply.

If it's a bit tatty in places repaint front door/hallway for first impressions but none of the others are worth it IMO.

I’d just try to ‘equalise’ the house so there’s nothing glaringly out of whack. That might be doing the small bathroom and putting rads in upstairs - if they are actually missing.

Small bathroom done cheap or DIYed would make your life better, repay its cost, and help the place sell quicker I reckon. If it currently looks like it needs replacement any buyer will be pricing that in, and it'll put off a lot of others.

What state are the windows in, and how creaky are the stairs? If they're currently off-putting, tarting them up is worth it to avoid that - the windows especially shouldn't look as though you've been avoiding maintaining them.

They might be wrong! But theyre gonna put an offer in too (don't know what for tho)

Effectively, yes. Either both parties can sign the same contract, or each can sign their own copy and exchange them. Basically the same.

Unless the documents that each side signs and exchanges are different. Then it's party time for the litigation lawyers, salty tears for the conveyancers, and squeaky bum time for the insurers. And, yes, it has happened.

Who owns the property if someone lives there under Lifetime Tenancy?

Depends what you mean by 'owns'. The lessee under the life tenancy has the right to occupy the property during the term of the lease, the lessor (the reversioner) owns the future right to occupy the property once the lease ends (the reversion expectant upon the lease).

It's like asking who owns a leasehold flat subject to a mortgage. Is it the lessor, the lessee, or the lessee's mortgagee? Technically, they all do - they all have interests in the property. As, potentially, does the Crown if the land is in the UK. But only one of them is entitled to possession of the property at any one time.

We've only been here since June 2019 and a couple of the windows have needed serious attention for years - the survey mentioned two areas in particular where the wood in the frame is rotten, and we already replaced another window upstairs (rear facing so cheap upvc) when I opened the casement and three panels opened and the top panel and the glass stayed put.

The windows in general are alright but they're single glazed and I feel like better soundproofing would be quite a large improvement in quality of life. But also a big investment.

As for the stairs I'm not sure what it would involve. There's quite a bit of movement, and I've tried some bodge fixes with screws that helped a bit but the staircase needs more professional help I think.

It sounded fine before I ripped the rank old carpet off them and made them look nice.

Owns as in who is in possession of the title deed and freehold. Whom, as per the lifetime tenancy agreement, is prevented from exercising their right to occupy until property is vacant.

Anyway person I knew who looked into decided against going that path because they were too young to get a sizeable wedge. They just sold up and downsized.

Talcum powder the stairs and put a fresh carpet on.

Replacing windows but if in poor condition, may allow you to get the sale price you want. I.e, people wanting £15000 off for £5000 worth of window replacements.

Electric rad in the loft room to save installation cost and keep the room warm during viewings.

Tidy up the small bathroom. Removing a bedroom is rarely a good idea for maximising sale price.

Do as little as possible to make a good first impression, ans also not to flag anything to the surveyor (signs of damp)

Completed and moved in to our new flat yesterday. The previous owner left us his fish. Like, actual living fish.

wtf is wrong with people. was kinda chuckling to this and then read out loud to the missus. who then told me her aunt bought a house a few years ago. and the previous owners left their cat there. shitbags