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it really depends on what you do and the specs of the renovation.
If you know and can send a builder, do it.
If you really have no idea, count between 500£(v cheap) and 1k (nicely done) per sqmgenerally a place that needs a lot of work will be a better deal than paying for something that has been done up to sell.
Glws-
for sure - at the moment the place we saw is considerably overpriced with this in mind from my perspective, aided by the fact other similar properties done up sell within days or even before they’re on rightmove (another viewing this morning was an open house with 15 other punters all lined up)
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between 500£(v cheap) and 1k (nicely done) per sqm
this is good to know, thanks - we’re defo on the cheap side (also we’re up north) - house is probably 100sqm, imagine the roof might well need re-doing (loft hatch was screwed in place so couldn’t check anything internal).
@Señor_Bear - good point, definitely already looked at leaving the kitchen and bathroom as is for now as even if they’re tired and ugly, they’re functional.
In case folks are interested - it’s this:
https://www.rightmove.co.uk/property/85821220 (lots of old damp stains/mouldy bits hidden behind sofas in the photos - looks like it’s been a HMO for years and not looked after at all) -
generally a place that needs a lot of work will be a better deal than paying for something that has been done up to sell.
May be different elsewhere, but in London this really doesn’t seem to be the case. Places that are in good condition certainly sell faster, but prices on equivalent run down places are rarely low enough to account for the cost of the work necessary to get them up to the same standard.
hvsds
pleaderwilliams
How’s best to get an idea of the cost of renovating a house before putting an offer in?
Find a friendly builder and do a second viewing?
Expect the worse and total up average costs of re-wiring, plastering, plumbing etc. etc?
Offer somewhere in a rough range and re-negotiate after the survey?
Had our first four viewings today and naturally the one we liked most needed to most work (and quite a lot of it!)