General Discussion: Property thread


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themistake
themistake avatar

10487 posts since 20/2/06

23 Jun 2019 20:26
stoney wrote: Anyone thinking of buying a house in London, now is about as good as it’s going to get. It’s not a great time to sell, but there are done bargains about. Managed to sell in 2 weeks and found a detached on a better road for the price of a semi. If you can get an ok price for what you want, I’d say go for it.

I’ve Recently had a property on the market and viewings/offers seemed to be reactive to Brexit news. The very day after we extended article 50 I had two viewings booked in.

Prices will go silly if boris takes us out without a deal.


@cracka.
Everyone is lolballing.
People don’t want to pay market value as they think they should be getting a bargain.
And if it’s a property that someone’s had for over a decade, the sellers are more likely to move on price.

sydneyking
sydneyking avatar

4452 posts since 26/9/09

24 Jun 2019 07:30
Im not sure it’s low balling it just seems more people are aware of the fact that prices are generally over inflated in the property market
swede
swede avatar

7771 posts since 21/3/09

24 Jun 2019 08:02
themistake wrote:
stoney wrote: Anyone thinking of buying a house in London, now is about as good as it’s going to get. It’s not a great time to sell, but there are done bargains about. Managed to sell in 2 weeks and found a detached on a better road for the price of a semi. If you can get an ok price for what you want, I’d say go for it.

I’ve Recently had a property on the market and viewings/offers seemed to be reactive to Brexit news. The very day after we extended article 50 I had two viewings booked in.

Prices will go silly if boris takes us out without a deal.


@cracka.
Everyone is lolballing.
People don’t want to pay market value as they think they should be getting a bargain.
And if it’s a property that someone’s had for over a decade, the sellers are more likely to move on price.

had a similar thing in the building I live in. flood of viewings and a sale just after they extended article 50
themistake
themistake avatar

10487 posts since 20/2/06

25 Jun 2019 16:02
sydneyking wrote: Im not sure it’s low balling it just seems more people are aware of the fact that prices are generally over inflated in the property market

I can honestly say I’ve had two people table offers with the comment “I don’t want to pay the asking price”. They don’t have examples of over properties sold or any reason other than they don’t want to pay.


If you shop hard enough, you will get a bargain.
stoney
stoney avatar

17322 posts since 22/1/05

25 Jun 2019 16:25
Anyone got any experience building over manhole covers / drain runs ?
sydneyking
sydneyking avatar

4452 posts since 26/9/09

25 Jun 2019 16:40
themistake wrote:
sydneyking wrote: Im not sure it’s low balling it just seems more people are aware of the fact that prices are generally over inflated in the property market

I can honestly say I’ve had two people table offers with the comment “I don’t want to pay the asking price”. They don’t have examples of over properties sold or any reason other than they don’t want to pay.


If you shop hard enough, you will get a bargain.

The fact most mortgage lenders won’t issue 100% mortgages suggests they’re more than aware that market prices are over inflated
Crackajack
Crackajack avatar

7012 posts since 21/4/05

25 Jun 2019 16:59
Lots of places seem to be getting reduced, or moving agent and being listed as new to market but at less than before. With that trend you can understand people making offers under. Wouldn't go about it like that though.
Crackajack
Crackajack avatar

7012 posts since 21/4/05

25 Jun 2019 19:22
Seen a few places with a layout that we might want to change. I noted Rirawins helpful comment about taking someone to viewings but struggling to see the potential in some places and don't trust agents who say x and y is an easy job.

Is putting in or removing stud walls or other more fancy options a job for an architect to consult on or a builder?
themistake
themistake avatar

10487 posts since 20/2/06

25 Jun 2019 19:48
sydneyking wrote:
themistake wrote:
sydneyking wrote: Im not sure it’s low balling it just seems more people are aware of the fact that prices are generally over inflated in the property market

I can honestly say I’ve had two people table offers with the comment “I don’t want to pay the asking price”. They don’t have examples of over properties sold or any reason other than they don’t want to pay.


If you shop hard enough, you will get a bargain.

The fact most mortgage lenders won’t issue 100% mortgages suggests they’re more than aware that market prices are over inflated

Lol wot?
100% mortgages disappeared during a recession that was caused by irresponsible lending.

100% mortgages were reintroduced on mass in 2018.

So they were reintroduced during a period of over inflation?



andymakesglasses
andymakesglasses avatar

20128 posts since 26/1/06

26 Jun 2019 07:45
Crackajack wrote: Is putting in or removing stud walls or other more fancy options a job for an architect to consult on or a builder?

Short answer, it's worth consulting someone, yes.

You might get away with knocking down internal walls under permitted development rights but you'd still need to comply with Building Regulations (for example considering any impact on fire safety).

If it's definitely a stud wall and not load-bearing you wouldn't need an architect, or a builder necessarily. But the work would need to be signed off as I understand it (regs are slightly different in Scotland) and you wouldn't be able to sell without a Completion Certificate.

One thing to bear in mind with layout changes is potential impact on resale value. You need to make sure that any changes are not just suiting your needs but also suit the local market generally. That said layout changes can be a great way to add value. We bought a one bedroom flat with a large kitchen (bigger than we needed), ludicrously cramped bathroom and an internal box room and it's now a proper 2 bedroom flat with internal kitchen and larger bathroom.
sydneyking
sydneyking avatar

4452 posts since 26/9/09

26 Jun 2019 08:00


Lol wot?
100% mortgages disappeared during a recession that was caused by irresponsible lending.

100% mortgages were reintroduced on mass in 2018.

So they were reintroduced during a period of over inflation?





What is a mortgage secured against? Whether lending is irresponsible or not if it’s secured against a property of equal or higher value then there’s no shortfall and no real detriment to the lender. The financial crises came about due to more and more financial products being packaged and secured against a single asset ie the property with no understanding of what would happen if those assets defaulted. 100% mortgages were re introduced and are available now if you have a guarantor, why would a guarantor be required if the property/asset is of equal value to the borrowing?
Crackajack
Crackajack avatar

7012 posts since 21/4/05

26 Jun 2019 09:11
andymakesglasses wrote:
Crackajack wrote: Is putting in or removing stud walls or other more fancy options a job for an architect to consult on or a builder?

Short answer, it's worth consulting someone, yes.

You might get away with knocking down internal walls under permitted development rights but you'd still need to comply with Building Regulations (for example considering any impact on fire safety).

If it's definitely a stud wall and not load-bearing you wouldn't need an architect, or a builder necessarily. But the work would need to be signed off as I understand it (regs are slightly different in Scotland) and you wouldn't be able to sell without a Completion Certificate.

One thing to bear in mind with layout changes is potential impact on resale value. You need to make sure that any changes are not just suiting your needs but also suit the local market generally. That said layout changes can be a great way to add value. We bought a one bedroom flat with a large kitchen (bigger than we needed), ludicrously cramped bathroom and an internal box room and it's now a proper 2 bedroom flat with internal kitchen and larger bathroom.

Thanks Andy

One place has almost no interior walls (it's a warehouse conversion and almost full open plan) but we would want to create a bedroom or two. It's more about what the best use of space is for this, given that walls are being added, but the fire safety point is an excellent one.
andymakesglasses
andymakesglasses avatar

20128 posts since 26/1/06

26 Jun 2019 09:41
Architects aren't necessarily as expensive as you might think. We paid £650 for relatively complex plans (including two load-bearing walls coming down with steels being inserted), but the architects fully understood what was and wasn't allowed in terms of passing Building Regs which removed any doubt about conforming.

You'll be able to find the information online (eg wall thicknesses, composition, minimum door widths, etc) and builders will also be able to guide you, but having the peace of mind from a professional who is (should be) up to date with the latest regs can help prevent potentially expensive mistakes.

With creating rooms within an open plan warehouse conversion you'd just need to make sure that you didn't detract from the space that (presumably) attracted you to it in the first place.
toiler
toiler avatar

76 posts since 4/5/09

posted 26 Jun 2019 10:33, edited 26 Jun 2019 10:33
stoney wrote: Anyone got any experience building over manhole covers / drain runs ?


Foul or storm? Might be best to move the manhole if possible. Where abouts are you based?
stoney
stoney avatar

17322 posts since 22/1/05

26 Jun 2019 15:50
Hi, foul. Thanks for the reply. Here is a plan. One on drive 1 behind the garage. It’s on a house we are trying to buy. I wanted to do a wrap around off the garage.

I’m in Surbiton but it’s not been purchased yet. Just trying to see if it’s do able.

ok google gas station near me
toiler
toiler avatar

76 posts since 4/5/09

26 Jun 2019 16:51
They might have to sleeve it through the footing but I'd say it's totally doable. The blokes doing your groundworks for the extension would be able to do it before they dig the footing.
MrW
MrW avatar

2486 posts since 1/8/11

posted 26 Jun 2019 17:41, edited 26 Jun 2019 17:41
Did some homework for a house we were looking at where we'd have wanted to move a manhole cover and extend over a shared waste pipe. Needed to submit a request to the local water provider confirming what you wanted to do (build over or move) and they'd approve or reject.

If it's a build-over, the water provider would likely want to do a load of checks first on condition and age of drain etc. to determine if the drain needs replacing first. Think that was about £1k, and then the water provider will want you to get various checks and approvals done throughout the build at more cost.

If you're moving the pipe, similar rules apply but iirc the water provider we spoke to suggested they would need to do some work using their people at a vastly inflated price.

You could ignore all of that, but anything goes wrong at any point and the water provider can rip up whatever they want to get to their drain to fix it.

Some useful info here and here.

stoney
stoney avatar

17322 posts since 22/1/05

27 Jun 2019 03:40
Cheers both Cool
illwill
illwill avatar

3447 posts since 17/5/04

5 Jul 2019 10:24
90% of the affordable property in my area is either tiny Victorian terraces or bland post-war boxes.

Anyone seen any inspiration on how to make these 50s places look nice?

They are far better value than the Victorian and have more modern open layouts but I can't get over just how shit they look.
andymakesglasses
andymakesglasses avatar

20128 posts since 26/1/06

5 Jul 2019 10:44
Inside or out?

Inside is easy enough, just look for interior design inspiration blogs (or Instagram pages) and try to identify what you like. 1950s interiors tend to be pretty featureless which gives you a blank canvas. That can be both a positive and a negative of course since you won't have cornicing, dado rails, picture rails, etc. as features that help define the space. But it also gives you the freedom to be quite bold.

Outside depends on your budget and any planning constraints. Glazing can make a big difference, replacing tired windows with something bolder (and bigger potentially) can have a transformative effect. Cladding, render and paint are other options.

These sites have a few ideas and details:

https://www.realhomes.com/advice/transform-the-exterior-of-your-home

https://www.homebuilding.co.uk/how-to-transform-ordinary-home/

https://www.homebuilding.co.uk/best-remodels-before-and-after/