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Advice House prices

Discussion in 'General chit chat' started by bluemonkey, Mar 1, 2014.

  1. bluemonkey

    bluemonkey Busy Member

    Messages:
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    Location:
    Market Bosworth, Warwickshire\Leicestershire
    Hi guys, really just wanted to pick a few brains. Now that my apprenticeship is almost over me and the misses are looking at buying the house that we currently rent, long story short last week we had a few agents come to value the house and got a fairly close range of prices. However we have a fairly long and involved list of work that needs to be done to the house i.e. water damage in the bath room, replacing an old boiler etc, but apparently the price quoted by all the agents was only for the house if it was in "Standard" condition for its age, not for how it is now. Being first time buyers we wanted to know how much something like a knackered boiler, very out of date and damaged kitchen plus 2 extremely out of date and in need of repair bathrooms would take of the agents value? Thanks for any opinions guys.
     
  2. jesim1

    jesim1 Kit bitch to the Stars

    Messages:
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    Location:
    Wigan/St Helens
    No one can tell you this from your post, it's so market dependant and subjective, even the agents won't commit to how much it will all cost to put right, and they have viewed it!

    The only real way is to get in tradesmen and get proper quotes, then you will know.

    A "cheap" kitchen can be well over grand, a mid range one can easily be 3 to 4 grand plus, and you could spend double this if you get carried away. Without knowing your house your kitchen could be a £20k+ job, but I'm estimating from you post it's not?

    Same is also true for your bathrooms and boiler. Cheap bathroom about a grand+ to whatever you like, a boiler for a typical 3 bed terrace is about a grand to £1500 depending on make and model - but you should seriously consider speaking to some of the grant companies as they can get one for virtually nothing if your on certain benefits/low wage?

    Your landlord also sounds like a right git, make sure you get it well under price as he should have had all this fixed, and if you move out he will have to drop the price to sell it or do the work. Either way you could then buy it at true market value.

    James
     
  3. Pidlar

    Pidlar Big Poster

    Messages:
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    Location:
    Kingwinford
    Never come across a valuation for "standard condition for its age".Always had valuations for what the property is worth as it is.
    regards,Stu.
     
  4. Elk hunter

    Elk hunter Keyboard Hero

    Messages:
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    Location:
    Leicestershire
    A few years ago without going into detail I had a boiler fail. No big deal as I lived on my own and it gave me hot water no more.. Fast forward a few years and I need to have a new one so Plummer came and although the system was not old it was out of dated.
    I assumed all I needed was a boiler...no!
    New regulation ment I had to have thermostats on all rads then my gas pipe was not large enough. I went from a new boiler to new gas line through the house, new floor boards, new rads and thermostats and turned out my cooker was leaking.
    So the only way to know is get some quotes.
    Sorry Andrrw
     
  5. edtwozeronine

    edtwozeronine Donator

    Messages:
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    Location:
    Newport City
    Maybe you'd be better off buying a different house in the area? My fathers cousin got a nicely kitted out park home for 30k after selling his wrecked house for £160k. A lot of the money he made on the house went to wiping out a massive debt he'd accrued on credit cards after getting one of those nasty pay day loans which he couldn't afford to repay.

    So generally I'd say get a better condition house in the same area. End your rental agreement.

    That's my opinion anyway.
     
  6. whitevanman574

    whitevanman574 bell target champion

    Messages:
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    Location:
    astley , manchester
    So you was undergassed for years ? The first person who serviced it years ago should of picked it up , not the last person
     
  7. whitevanman574

    whitevanman574 bell target champion

    Messages:
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    Location:
    astley , manchester
    Your house had been valued with this in mind ,, youve rented it ? So you want to purchase it? You must be happy with it?
     
  8. landymick

    landymick Big Poster

    Messages:
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    Location:
    Sheffield
    You will be in the region of £6,000.00 for all works,as said you can't quote with out seeing it price changes with quality of products etc & if you can do stuff your self.Always seems to be dearer than you think.My guestimate is based on prices paid for on similar projects that I've carried out.Values should be for property as it stands sometimes they say what it should be worth in modernised condition.
     
  9. ambriel

    ambriel Engaging Member

    Messages:
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    Location:
    NW Highlands, Scotland
    Most estate agents/valuers will do only the barest minimum unless you pay them for a full survey. Pretty much what they'll do is measure the floor area then multiply this by the figure in a chart compiled by the RICS for your area and the age/type of house.

    It gives you something to start from, anyhow, and you can then price-up each job and start deducting it from the valuation. Don't go cheap, either: price it for good standard equipment *and* for having the work carried out by a professional.

    It's worth going to the trouble of getting quotes because if you like the house and where it is then you could well come away with a bargain, especially if at the end of the day you can do a lot of the work yourself.

    Best of luck.
     
    Last edited: Mar 2, 2014

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