Damp on home buyer survey

[danlightbulb]

I deleted my personal details from the report so I can now attach it in full. Would love some opinions on whether I am getting into too much with this project.

Primarily there are some large initial expenses:

• 2x bay window complete replacements
• Loft hot water tank system replacement
• Work to refurbish the areas of soffit and guttering that have deteriorated
• Work to repoint/repair sections of render or mortaring that have deteriorated.

Then there are some potentially significant risks:

• Rear extension flat roof (mineral felt) considered to be end of life and has had historical repairs. Surveyor suggested GRP roof to eliminate the risk.
• Bay window roofs (same as above) unless I could get them replaced alongside the windows.

On top of this there is then the stuff I knew about already:

• Complete bathroom refurbishment
• Replastering and complete redecoration in all rooms (over time)
• Optional stuff - like getting French doors fitted in the living room
• Making a driveway on the front.

Despite all this, I have seen nothing better in a huge area covering where I live + about 5 miles out. I'd love to have more options so I could weigh up this house vs others perhaps in better condition but the choice is awful.

 

[oldbutnotdead]

You planning on doing the work yourself or paying others?

There are no showstoppers in the bits you've described. Much depends on how much time you can spend on the biggies between completing the purchase and moving in...if you are on your own consider 'camping out' in 1 room while you get stuff done (stick yr furniture in a container somewhere)

Every project like this will cost too much and take too long but if it is where you want to be then get on with it

 

[danlightbulb]

I would have to get people in to do the big jobs like window and boiler replacement. Its an immediate £7k outlay which uses up a significant proportion of my do up fund on those two items alone within weeks of moving in.

Just dont know if its worth it.

 

[oldbutnotdead]

Depending on where you are, boiler replacement doesn't have to be that dear. Right now it would probably cost you £3k, if you can wait til June/July/August more like £1500. If you only have 1 bathroom, the water pressure is decent and you've low occupancy then stick a combi in- removes the tankage problem straight away
Ground floor bay windows aren't a massive job. The bay roof is a variable but if the rafters are in decent condition then £200 a side would do to replace with GRP (which is very DIYable). Double glazing the bay- find a good builder who fits windows, they'll do a much more competent job than most window fitters
Soffit/guttering- up to you whether you DIY or pay someone. Doing jobs like that off ladders can be hard work- get some prices but you'd be in the hundreds for that, same as the rendering/pointing. Of course on a bungalow scaffolding will be cheap
Extension reroof- again GRP is very DIYable, take the opportunity to throw some insulation in the void (though be careful on detailing so you don't end up with condensation issues). Allow £100/sq m (the trims and stuff all add up)

End of the day its up to you whether you go ahead or not- no-one else can make that decision. If it is priced realistically for the area and condition then go for it (bungalows up here are quite rare). Or wait for the next one...

 

[Nige F]

I

Despite all this, I have seen nothing better in a huge area covering where I live + about 5 miles out. I'd love to have more options so I could weigh up this house vs others perhaps in better condition but the choice is awful.

As said , bungalows are rare everywhere - but favoured mainly by less able people - so that entrance up steps may be a downside for many. If you can arrange some discreet level access , side maybe ? while you are doing the refurb, you would be adding value. Maybe not so much by putting in a roof conversion - but you could get planning permission and that would add value too.

 

[Lower]

I would have to get people in to do the big jobs like window and boiler replacement. Its an immediate £7k outlay which uses up a significant proportion of my do up fund on those two items alone within weeks of moving in.

Just dont know if its worth it.

Have you gone back to the estate agent, told them the results of the survey, and asked them to adjust the price to reflect the costs of the remedial work that is required?

You can make the point that any potential purchaser is going to find these problems but you're will to proceed if they drop the price by £7k so that you can get the remedial work done straight away.

The vendor may take the view that the house is priced to reflect its condition, but if you don't ask you don't get.

 

[danlightbulb]

@oldbutnotdead yes the plan is to immediately stick a combi in and remove the tank setup. £2.5k which I already knew about.
I have sent photos of the bays and dimensions to two local window companies and initial estimates (without visit) are £3.5-£4k.

@Nige F its an odd one. you are right that most bungalow seekers might not want something raised from the road. However at the same time, I wouldn't want a bungalow that looks like a granny flat. This one looks more like a house than a granny bungalow and part of the reason for that might be its raised nature. I have been trying to rationalise whether owning a bungalow is something I want to do since I offered on it. The large plot size and the fact it is detached are obviously pro's, but there are also con's.

@Lower not yet no. I need to decide if I am going to proceed before attempting renegotiation. Any money I get off the sale price doesn't help me a great deal because its just less on the mortgage but no extra cash in the bank (I am taking a 90% LTV mortgage on this). I am apparently the third person to get a survey done, the previous two pulled out after survey.

 

[Lower]

@Lower not yet no. I need to decide if I am going to proceed before attempting renegotiation. Any money I get off the sale price doesn't help me a great deal because its just less on the mortgage but no extra cash in the bank (I am taking a 90% LTV mortgage on this). I am apparently the third person to get a survey done, the previous two pulled out after survey.

If they've had two sales fall through, i suspect they'll negotiate. Having a lower mortgage is a good thing. You won't be paying interest on the £7k for the next 25 years!

You could probably get a loan for the £7k at a low interest rate, as long as you pay it off within 5 years or so. You'd save money in the long run.

 

[danlightbulb]

@Lower its hard to judge what its worth after ploughing 10-20k into it. there are very few comparable sales.