How long is a piece of string! rough cost to gut a house..

[ILoveMondeo]

Been to see a house to day, which was great, apart from the fact it's a complete and utter st hole!

Decent sized house, and a massive garden, space for a double garage, etc. etc..

It's beyond redecorating, and needs gutting completely, a moldy stinking heap, so assuming a small 4 bed place, approx 120sqm

Rip and replace the LOT, back to brick, doors, frames, wiring plumbing, boiler, kitchen, bathroom, windows, etc. etc..

Got to try and work out if it's even remotely viable before I start negotiations in further detail, and get builders involved.

I'm thinking

Windows + exterior doors 10k
kitchen 15k
bathroom 8k
rip out everything/replaster/repaint
boiler 4k
plumbing throughout ??
wiring throughout ??
Fireplace 2k
garage 15k

Can anyone help to roughly fill in the blanks?

I can see this nudging towards 75k upwards...

I've never taken on anything like this before so I'm pretty clueless... the closest I suppose was a neighbor who had a place about half this size gutted to the bricks, extended and put back together again for £50k

[ILoveMondeo]

Thanks for the advice, doesn't seem like I wasn't a million miles off with my guesses.

Would love to DIY the whole thing but I will be paying two mortgages during the renovation so needs to be as short as possible. Doing 70 hour weeks doesn't leave a lot of free time so if only slow it down further by trying to clear some of it myself. I may well leave the garage / garden and DIY that when the house is finished.

That's a good question, how long a project like this would take? I'm thinking 6 months would be a safe bet, no building / weather reliant work, other than the windows, so should be able to progress reasonably well.

F&f would be middle of the road stuff, not the cheapest, but not solid oak doors!!!

We will likely be there 5-8 years, when work should have given me my first heart attack and I move to a cottage in north wales for the quiet life!

Next step, get the vendors to see sense about the price! "Wildly optimistic" seems to sum it up! It's marketed as being all up together and tidy, yet it has seen at least a couple of decades of complete neglect, there's a bomb crater/ex-pond about five feet deep in the back garden, full of rubbish. It stinks of cat piss. Every surface is filthy/damp/mouldy.

The look of horror on the couple that viewed it before us was great!

The estate agent was positively embarrassed!

Without the garage I'm probably looking at 75k minimum, fair to offer that off the asking price?

[ILoveMondeo]

Muncher said:

Depends whether the asking price was realistic or not!

Definitely not! Would be if it were in good condition, or just needed a lick of paint and a new bathroom maybe.

It's on for oieo 300k, and would be worth maybe 320 I'm good condition.

Im thinking of chancing my arm at 225, the worst they can do is tell me to fk off!

I should add that the agent was quite candid about it and knew full well it was massively overpriced and in a st state.

Edited by ILoveMondeo on Saturday 26th July 20:13

[ILoveMondeo]

dazwalsh said:

At that sort of offer i think they would tell you to jog on.

Probably, but it's a starting point to get to 250, and they may just say yes.

Around here 300k gets a decent 3 bed semi with all the mod cons, 350 a new build 4 bed town house.

So bearing in mind it's a shagged out ex council property I don't think 225-250 is unrealistic, it's definitely harder to find someone willing to take on a project of that scale than it is to sell something nicely finished. Can't see there being too much competition.

Suppose it all comes down to the vendor and how much they are willing to take it how much they need to get!