Show us your real estate pawn (vol 3)
Discussion
Fermit and Sexy Sarah said:
It wont do though. He can put his hand to anything, and is very clever at stretching a budget. An example with their house in Henley. They bought it for around £600k, dated, think 30 years not touched dated. They spent, IIRC, about £80k renovating the lot. Sarah's mum when we were last down said of the kitchen that it had cost them £20k, but the way it had been crafted and designed you'd be sure it was an £80k kitchen. This house is now worth around £1million.
Ah, but anyone could have bought a £600k home at one point, shat in every corner for 5 years and sold it for £1m. Probably less than 5 years in Henley which has benefitted enormously from the whole SE bubble of the last 25 years. I’m afraid the reality is that neither the purchase or sale price were probably related in any meaningful way to the general decor etc. I added nearly £2m to my home just by me being there. I did nothing other than be there and people rushed to pay this huge excess purely because I had once lived there. Such is my prowess and property genius.
In today’s market, in an area of no real growth then it’s important to appreciate that you could easily chuck £100k into improving a property considerably but not find it changes the valuation by any meaningful amount, just helps sell it quicker. Possibly.
TTmonkey said:
then there's the point of 'who wants a farm and out buildings with no land'..... resale market would be very limited.
it looks a money pit to me, and not something that's waiting to be discovered and reinvigorated. If it has 20 acres then it would be different.
it would be more than £500k then though eh? it looks a money pit to me, and not something that's waiting to be discovered and reinvigorated. If it has 20 acres then it would be different.
DonkeyApple said:
Fermit and Sexy Sarah said:
It wont do though. He can put his hand to anything, and is very clever at stretching a budget. An example with their house in Henley. They bought it for around £600k, dated, think 30 years not touched dated. They spent, IIRC, about £80k renovating the lot. Sarah's mum when we were last down said of the kitchen that it had cost them £20k, but the way it had been crafted and designed you'd be sure it was an £80k kitchen. This house is now worth around £1million.
Ah, but anyone could have bought a £600k home at one point, shat in every corner for 5 years and sold it for £1m. Probably less than 5 years in Henley which has benefitted enormously from the whole SE bubble of the last 25 years. I’m afraid the reality is that neither the purchase or sale price were probably related in any meaningful way to the general decor etc. I added nearly £2m to my home just by me being there. I did nothing other than be there and people rushed to pay this huge excess purely because I had once lived there. Such is my prowess and property genius.
In today’s market, in an area of no real growth then it’s important to appreciate that you could easily chuck £100k into improving a property considerably but not find it changes the valuation by any meaningful amount, just helps sell it quicker. Possibly.
Edited by Fermit and Sexy Sarah on Tuesday 27th November 13:49
TTmonkey said:
then there's the point of 'who wants a farm and out buildings with no land'..... resale market would be very limited.
it looks a money pit to me, and not something that's waiting to be discovered and reinvigorated. If it has 20 acres then it would be different.
In fairness it's on 2 acres. The tall metal barns (there will be a proper name I'm sure) would come down, adding space, and I'd guess likewise the single storey L shaped barns too. The point is needing somewhere at the right price point, with out-buildings, to cater for 3+ properties. From a resale point of view, I'd guess they'd all be treated separately, with the first becoming vacant when Nan is no longer around. At the point of sale, probably after Sarah's olds are no longer around it would, I'd imagine, become a small hamlet, with 3-4 properties marketed individually.it looks a money pit to me, and not something that's waiting to be discovered and reinvigorated. If it has 20 acres then it would be different.
It's a tentative idea all said. They might not like it, the area, the scope. But it is the nature of what is being considered. Steve would know within half an hour of looking at it if it were doable, if it's best running for the hills, and if it were to make financial sense.
bob-lad said:
Perfect..... Simply perfect.thegreenhell said:
That's better, 25 acres and sea views. £4.5 mill but I can't see where in France it is? Bingo! As long as you don't want to go anywhere useful there won't be any traffic. At all.
https://www.google.co.uk/maps/place/83120+Sainte-M...
https://www.google.co.uk/maps/place/83120+Sainte-M...
minimoog said:
Bingo! As long as you don't want to go anywhere useful there won't be any traffic. At all.
https://www.google.co.uk/maps/place/83120+Sainte-M...
A trek to the pool...https://www.google.co.uk/maps/place/83120+Sainte-M...
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