Owning your own home

Can tell you ceiling gonna be like 3.5k each, maybe 4K.

Look amazing but not at a million!

At the stage where there is chat of buying million quid houses to knock down. Golf club thread surely

Yeah. But this is what happens round my parents way; all the houses are old detached with various problems, hopeless energy efficiency and weird layouts being the main ones.

But the sites are cool and its a 20 minuets on the train just down the road to Old Street.

So people buy them and just demolish them and build what they want from scratch. The figures involved are mad, and some of the things that get built....good. Awful. But if you knew what you really wanted and knew what you were doing...

1 mill for that, fuck me.

Totally agree, its the land your buying but you need seriously deep pockets to be doing stuff like that although with the price of extensions right now it sometimes won't be much more to rebuild from the ground up.

Oh, look....

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Parts of me love how it look but no way we all have pocket akin to those on Grand Design (like that lighthouse).

It was eye watering expensive sorting out our small flat, I can’t even imaging on that 1 mil house.

Yeah with deep enough pockets you can do a lot there, I sadly dont have they kinda of pockets its hard enough trying to buy a 2 bed myself rn now never mind a flatten job ha.

150 to liveable, 225+ to interesting. Nice of them to do the ripping out already, that’ll save you a few hundred in skips.

I've reached the point of being quite detached from the housing market (no pun intended), the amount of money required is just so far beyond what I think is reasonable that I want nothing to do with it.

This looks to me as if someone may have started work on it before realising that it's *just* inside the conservation area:

https://lewisham.gov.uk/-/media/files/imported/foresthillcaextensionsosa3jan2011.ashx

StreetView suggests it was still inhabited in 2019, so only recently vacated.

Whoever buys this will pay a million quid for a house they can't alter much.

Yeah -could be it. Someone definitely stated a renovation they didn’t want to finish.

That's had a planning application granted in 2016, which ran out of time last year.

https://planning.lewisham.gov.uk/online-applications/applicationDetails.do?keyVal=_LEWIS_DCAPR_84145&activeTab=summary

I'd guess they'll submit another one soon for a larger building.

There are a lot of applications in Ewelme Road in the last couple of years, so it looks as if it's been going through the grinder.

Absolutely, it's a ridiculous situation in which people invest immense amounts in property because they can't find enough other things to invest in.

Quite apart from the price, this one wouldn't be for you even as a fixer-upper because you probably wouldn't be allowed to add a garage (even though there's just enough space for a narrow one).

Well found!

Sad that they demolished something only to try to build flats.

Alternate satellite view is telling

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Yes, it also looks as if they allowed the old building (which wasn't very attractive, to be sure) to deteriorate, in classic fashion. Last StreetView picture before demolition:

https://www.google.co.uk/maps/@51.4433321,-0.0548218,3a,35y,198.97h,104.91t/data=!3m7!1e1!3m5!1swqRM7AO3e14snEEI3_78Wg!2e0!5s20140801T000000!7i13312!8i6656

I sometimes wish fox burrows could be listed so people wouldn't want to knock down existing buildings to leave an empty plot for years. :)

Given the vendor paid 935 for it in 2020 I'd want a pretty convincing explanation as to why they are bailing on it now after having started the project.

150 to liveable, 225+ to interesting.

Got to say I'm really surprised by the numbers being suggested.

I know of someone who had to do a full renovation of a similar size house about 10yrs ago and they spent ~£250k. Admittedly they had to repin one external wall and do work on the roof, but still given the number of anecdotes about peoples budgets going up by 20-100% in the last year its got to be much higher.

My guess is you could get it to normal person livable for £150k (rather than lfgss.com livable). But right now to do it properly it'd be £350-500k. Which I reckon is why the current owners are bailing.

^ agree - all you have to work with is the walls. Everything else is toast. The roof is probably toast or has been vandalised in some way too. Going to be crushingly expensive to do it to any kind of livable standard.

Not actually interested in that house - I just wanted to trigger Howard.

Slightly struggling with people buying it for £935k and trying to sell it for £1m, when costs of renovation have shot up. Good luck to them!

I am just glad you are looking south.

You need a double bay'd Corbett House on a nice road.

Given the vendor paid 935 for it in 2020 I'd want a pretty convincing explanation as to why they are bailing on it now after having started the project.

At a guess, it's because 'prices are rising all the time' and because they secured planning permission for some changes, including a dormer roof extension that adds a sloped roof storey with three rooms and a bathroom:

https://planning.lewisham.gov.uk/online-applications/applicationDetails.do?activeTab=documents&keyVal=_LEWIS_DCAPR_108744

https://planning.lewisham.gov.uk/online-applications/applicationDetails.do?activeTab=documents&keyVal=_LEWIS_DCAPR_108712

These are sensitive and necessary changes and good consents. They probably just underestimated the cost. My earlier suspicion that it's something to do with the conservation area was most likely wide of the mark. I should have looked up the planning applications first.

They might well be sensitive and necessary changes but they also, I suspect, in the process of doing what work they have, have made the property unsuitable security for a mortgage by ripping out the bathroom and kitchen. So it's really only one for the builders or developers anyway. And they aren't in the habit of paying over the odds.

Whether they manage to get what what want for it because of the consents they have obtained is another matter.

I don't know anything about mortgages, so didn't know ripping out a bathroom and kitchen had that effect. I mean, I wouldn't say that the consents are necessarily worth the difference in price (I can't imagine they cost that much), and it's been on the market since September, so it doesn't look as if there's been a stampede of buyers.