Renovating a house

[Spy Bee]

Anyone ever taken on a huge renovation of a house?

 

Me and the missus have a chance to buy an ex pub for £160k. It is a spacious 3 bedroom house upstairs and a shithole downstairs. It could eventually be converted into a huge and luxurious 4 bedroom house. We don't have much money to chuck at it, but we could do it over say 4 or 5 years.

 

It'd easy be a £300k house then, and would probably have only costed another £25 to £28k.

 

Is it too much of a commitment though, or is it a great little project that we should jump at the chance of?

[cbk]

If you can afford it in terms of both money and time then go for it mate. Never done it myself but would love to.

 

By the time you finish it the market should hae gone up again and made even more money.

[Flying Pig]

Is it local Adam? If so, its a good part of the world.

[Spy Bee]

Is it local Adam? If so, its a good part of the world.

 

It's just around the corner from my cuurrent abode.

 

Thinking I'll get a few specialists in to check it's not going to fall down, then have a go at it.

[TheBitch]

Are you going to be living there while you do it up? I only ask because its a fucking nightmare, dust and shit and without doubt major arguments.

 

1st house I bought I gutted but was still living with parents so it wasn't too bad. Walls knocked down, every room replastered, rewired, re plumbed, new kitchen, bathroom.

 

Current house I haven't needed to gut but have had to decorate every room, new bathroom, kitchen and am living here while doing and it isn't nice because theres been no respite, straight from one room to the next.

 

Doing it over 4 or 5 years could be frustrating because you'll want to see things happening unless you're the patient type. I'm not!

[hamstrung]

If you can live in the house bit, do it. You can do it gradually.

[sir roger]

The figures seem to stack up OK , Spybee , but you have to have the energy & be totally committed. My missus ( I helped when I could , around my work ) renovated a couple of houses and even those 3/4 month jobs were totally exhausting , never mind

4 or 5 years.

 

Check your budget forecasts really strictly & be very realistic as they ALWAYS overrun.

 

On a technical point ( ignore me if you don't need to borrow money to buy it ) you may find that being an ex-pub you may not get a normal mortgage & you may have to do it on a business loan type-basis which tend to be dearer & need bigger deposits.

[The Dude Abides]

Something i'd really love to do myself some time. And sure if the place is perfectly habitable? Why the hell not?

[Woo]

I presume you are going to let the GF decide the name of this to be drinking establishment?

[Jose Jones]

Presumably you get the beer cellar so can have real ale piped up to a bar in the lounge and can get a nice wine collection going down there too?

Still, 4 or 5 years of doing renovations sounds like a fricking nightmare. I painted our bedroom and bathroom a little while ago, 4 fucking coats and took over a week, I'd had enough.

I'd be tempted to see if you could afford the extra 30k on the mortgage and get some buggers to do it all for you.

[Spy Bee]

We can basically close off upstairs easily so it won't be effected by dust etc. It's basically self contained at the moment.

 

We couldn't really afford the extra money on the mortgage now, but it's something we may be able to in a couple of years. I suppose I don't want it to become all consuming and take over every other part of our lives.

[havarantagain]

Anyone ever taken on a huge renovation of a house?

 

Me and the missus have a chance to buy an ex pub for £160k. It is a spacious 3 bedroom house upstairs and a shithole downstairs. It could eventually be converted into a huge and luxurious 4 bedroom house. We don't have much money to chuck at it, but we could do it over say 4 or 5 years.

 

It'd easy be a £300k house then, and would probably have only costed another £25 to £28k.

 

Is it too much of a commitment though, or is it a great little project that we should jump at the chance of?

 

The purchase price seems very competitive especially for the potential square footage. Your costings for the renovation work is a joke. If the pub is in good condition then redecoration a kitchen and bathroom would cost £20,000.00. To luxuriate it by doing, re wire, re plumb, security systems technology systems, how goods the roof? re model through out to your taste £100,000.00 is more realistic.

That size of potential needs proper money to do it well. If your going to do it plan the work down to the last nail, build a program/schedule and stick to it. Allow 15% contingencies-good luck.

[Spy Bee]

Your costings for the renovation work is a joke. If the pub is in good condition then redecoration a kitchen and bathroom would cost £20,000.00. To luxuriate it by doing, re wire, re plumb, security systems technology systems, how goods the roof? re model through out to your taste £100,000.00 is more realistic.

 

I know loads of trademen, so it would all be on the cheap. £20k for a bathroom and kitchen? On what planet? We're not going for an Aga kitchen. We won't be cutting corners, but we won't be going all out when we are on a budget.

[Flying Pig]

I know loads of trademen, so it would all be on the cheap. £20k for a bathroom and kitchen? On what planet? We're not going for an Aga kitchen. We won't be cutting corners, but we won't be going all out when we are on a budget.

 

If you buying a kitchen don't get a fitted one, buy self assembly from Wickes. Almost the same as the fitted stuff but about 40% cheaper.

[RedinSweden]

It will certainly test your relationship Spibes old boy. Do you need special permission to change a pub to a house? Business properties aren't always able to be converted, but you see plenty of pubs that are so that shouldn't be a problem.

[Spy Bee]

The pub is currently going through change of usage, which it will get due to the amount of time it has been for sale as a commercial property and the amount of time it has been closed as a going concern.

[RJ Fan club]

It will certainly test your relationship Spibes old boy. Do you need special permission to change a pub to a house? Business properties aren't always able to be converted, but you see plenty of pubs that are so that shouldn't be a problem.

 

You do. He'd need planning permission, which is not necessarily straight forward. It would depend upon loads of factors such as local plan/LDF policies, period of vacancy, marketing and if the Council have a policy of alternative use etc.

[Section_31]

Living in Britain can be a pain in the bollocks at times. If you lived in virtually any other European country you could forgo all this shite simply by making a donation to the local planning official's favourite charity. In Russia, if you buy the man a Smirnoff Ice, he'll give you someone else's house.

[hamstrung]

If the bar actually has a bar in it, they are worth a few bob I believe.

[bri]

double your budget and double the time and you'll be about on.

 

if your serious make sure you get decent surveys done and research the area to see about what goes for what.

[havarantagain]

I know loads of trademen, so it would all be on the cheap. £20k for a bathroom and kitchen? On what planet? We're not going for an Aga kitchen. We won't be cutting corners, but we won't be going all out when we are on a budget.

Spy, I've done this for twenty five years and have the benifit of knowing what things really cost. If your friends work for nothing, especially knowing you could add value of up to 75% of the purchase value then good luck.

In reality, cost it properly and do it properly or leave it alone as you cant afford it- can you?. Your friends will let you down at some point especially when they think your milking their good will.Wise up or put up.

[elvis]

Spy, I've done this for twenty five years and have the benifit of knowing what things really cost. If your friends work for nothing, especially knowing you could add value of up to 75% of the purchase value then good luck.

In reality, cost it properly and do it properly or leave it alone as you cant afford it- can you?. Your friends will let you down at some point especially when they think your milking their good will.Wise up or put up.

 

This is a bit dramatic mate, without seeing the state of the place its impossible to say its gonna cost a shitload more than he thinks.

I know from experience that the core materials for renovating are fairly inexpensive , and i reckon welsh tradesmen wont be charging london rates for work carried out .

[Spy Bee]

We have proper mates in Wales boyo. I wouldn't let them down, they won't let me down.

[TheBitch]

Pics before and pics after please Mr Bee, that is if you undertake this project, oh and good luck!

[Spy Bee]

In fairness, if the upstairs was just a bungalow, it's be worth £200k plus in the village the pub is in.