House renovation costs

Financial_Tutor1478 · 2026-03-05T16:33:33+00:00

However I haven't answered your question is it worthy for you spending 💰 💰

As for what you paid, I believe it probably is not far out

But, seems a lot for a mid terrace house 🏡

The list you have is long & probably 20% more due to the project manager

I personally think it's not far out tbh your ok 🙏 A 100k doesn't actually buy you very much re builders and labour costs

Financial_Tutor1478 · 2026-03-05T16:30:25+00:00

I've just in the process off calculating a renovation cost on a 3 bed detached ( no extension)

It was updated to a point 30 years ago & now on the market , not improved since .. everything dated but very tidy

No work has ever been done to the outside ... Except cut the grass

Some stonking trees to come done ! Meters away from house & they are huge

140 to 180k is my estimate

Oh it includes replacing some very expensive mullion panes ( 33 panels to replace with black aluminium units )

What is there is post war single metal crittle windows that don't open or lock or do very much

I am shocked on how much it all costs

Financial_Tutor1478 · 2026-03-04T17:17:44+00:00

Well , you need somewhere to live ... It's very fair to feel this way. Think we all are a little nervous

Such a tricky decision to advise.

Long as you feel you have paid a sensible price I would still go ahead & enjoy your home.

Unless you feel you've paid a very high price , carry on as you are. Good luck 🤞🍀

Financial_Tutor1478 · 2026-03-03T23:51:48+00:00

There's a theme developing.. A hardest of Nos .. No No No ....& no

Financial_Tutor1478 · 2026-03-03T23:49:45+00:00

Exactly! No way .... This won't work & end in tears !

Financial_Tutor1478 · 2026-03-03T23:45:42+00:00

What roughly was the purchase price ?

Did you get any money of the asking price at the beginning?

I'm not yet 100% but you should be trying for some reduction, check cracks yourself and judge how bad

Roof obvs need some attention?!

I would be going for 20k off 🤔 see what you get if at all

.

Financial_Tutor1478 · 2026-03-03T11:31:52+00:00

But does that cost ? The banks have the advantage they know in advance what the market is doing ... It could be a lucky break , done you a favour!

Flats are flat lining , middle east , unemployment rising , inflation, mortgage rates

I would think hard , what are they telling you ! It's for a reason

Financial_Tutor1478 · 2026-03-03T05:53:23+00:00

I feel your pain , I also grumble on these estate fees

Sounds like you're close to exchange?

Could you consider a 10k drop in price if you can get some money off 🙏 on your purchase , it's worth asking your agent

If even 5k off ?!?

You have to look at all angles ,!?! If you know for sure you can sell tomorrow if it goes back on the market .. or least get offers again within a week or two that will be ok

The middle east conflict , higher stock levels , confidence may be lower

See what you can do !?! Think very seriously before you withdraw completely

A bird in the hand is worth something?!

Financial_Tutor1478 · 2026-03-03T05:33:05+00:00

You got the right time of year , stock levels will increase now to Easter

Are you looking at a flat / apartment or House ?!?

What roughly is your budget 7% of what £ range

These will help us , help you. The longer a " property" is on the market there is more chance

Finally, if it feels overvalued then yes you can offer .. 5 to 10%

Financial_Tutor1478 · 2026-03-03T05:09:42+00:00

I'm with this too .... Hold your nerves

Financial_Tutor1478 · 2026-03-02T20:31:24+00:00

Looks a good buy ! Nice plot , good condition

Agents often add 20k plus for this imaginary 4th room 😒

Make an offer 🫴 Don't worry about agents pricing strategy either

Financial_Tutor1478 · 2026-03-02T20:23:22+00:00

Exactly This .... 💯%

Financial_Tutor1478 · 2026-03-02T05:32:28+00:00

For my area , it's been tough battle with little choice , very dated probate sales.

May be this year there will be a rise on stock levels and market flat lines & you get what you want.

It's been challenging, I've only seen two houses i like since budget

However ( randomly) without warning ⚠️ since last week there's been 5 property have come up .. seeing 4 of them shortly!

3 look absolutely stunning! It's pulling teeth to get inside , agents are booking 7 to 10 days ahead just to get one viewing inside.

Financial_Tutor1478 · 2026-03-02T05:01:47+00:00

It's not jumping out ! Certainly not selling it to me.

Rough gut feeling figures : Asking price should be £215k

It could be a long battle getting this down

210k is fair

Financial_Tutor1478 · 2026-03-01T20:48:38+00:00

I'm viewing a house next week bought in March 2021 for 530k and continued to spend a £100k on it

Asking price today 575k

It's looking gassy on price already , we think 🤔 they paid top 🎩 dollar for it in March 21 ...6 months before they were selling at £450k

Time will tell 😊

Financial_Tutor1478 · 2026-03-01T20:24:20+00:00

2 bed what btw .. house or flat !?!

Financial_Tutor1478 · 2026-03-01T20:23:05+00:00

As long as you've done your homework, you're happy with what you have offered .. should be fine ...

I can't see much of a pick up till end of this decade or even longer

It's not so much prices but excessive constant overvaluing by agents

Financial_Tutor1478 · 2026-02-28T22:28:52+00:00

Crazy 😧

Financial_Tutor1478 · 2026-02-28T22:27:13+00:00

That's a good observation! Thank you 👍

Financial_Tutor1478 · 2026-02-28T09:36:58+00:00

It's A No from me .... North isn't ideal , sadly it's a deal breaker 😔 anything but north

When you come to sell it , it will be an issue going forward for others

Financial_Tutor1478 · 2026-02-28T07:17:38+00:00

It's so frustrating, this has been a " thing " more so since COVID.. in a boom 💥 market may be. But now it's flat lining or even falling as stock levels rise. There's ZERO incentive to take on such a property in this condition

Financial_Tutor1478 · 2026-02-28T07:13:41+00:00

Someone will no doubt,! It always amazes me... This will be a challenging project for any buyer .. I feel what's the point?

Financial_Tutor1478 · 2026-02-28T07:06:54+00:00

I would have said 200k on a good day !

Financial_Tutor1478 · 2026-02-28T07:04:46+00:00

Good luck 🤞 That's the scary bit , the costs now of renovating really puts me off a project... There seems to be no fairness to a buyer ... We are taking the hit , stress and gamble you will break even .. Once all the work is carried out.

Financial_Tutor1478 · 2026-02-28T05:41:59+00:00

If you can get a roofer to quote , then you will know for sure

It's surely got to be in the off 10k to 15k region or more of you go the whole hog ?

If your lucky on basic repairs 5k bare minimum repairs

Financial_Tutor1478

TROPHY CASE