The House Projects Thread

[IanF]

It’s a fixed drive area, so debris should be minimal, but I did consider that and wondered if the leading edge has a soft brush attachment and a collector area at each end to prevent issues.

I’d guess it originally opened to the right, so has eased access compared to what was there before, which is probably the point.

And a two button fob at the gate plus booster would ease prompt access.. my parents neighbour did this so his gates were fully open by the time he arrived and such a simple addition was an absolute game changer for convenience.. even though it only saved about 10 seconds!

[Mito Man]

Siri Shortcuts are great for this. Press action button on iPhone, gate opens, lights turn on, 20 seconds later garage door opens just as you pull up, speakers start playing music. Can have a lot of fun with it

[Gavster]

I'm seriously considering plonking a double dormer loft conversion on top of my flat. It'd turn my 3 bed, 1 bathroom flat into a 5 bed, 2 bathroom flat. It would add somewhere in the region of 31sq/m of space. Although in reality, one of those 'bedrooms' would become a reception room and a small bedroom would become a dressing room. Mainly considering it from an investment perspective, because the cost per sq/ft to create that additional space is far less than the current market value. I'm also in an area that has been, and still is, undergoing a long and sustained period of redevelopment and gentrification, in about 3-5 years it will be really flourishing, so investing now should reap a far better market value in a few years time.

It's all pretty boring otherwise, here's a similar plan that got planning permission during the summer.

[DeskJockey]

Is the rest of the space balanced with a five bed property? One of the houses we looked at was a five bed, but there was nowhere near enough living space making it useless as a family home.

[Rich B]

I'm also in an area that has been, and still is, undergoing a long and sustained period of redevelopment and gentrification, in about 3-5 years it will be really flourishing, so investing now should reap a far better market value in a few years time.

Thats a tricky one, developing now for long term gains - theres no monetary reason to do it now, it’ll be no cheaper to do it now than it would be after the area prices have gone up so do you need/want more space now?

Have you got somewhere else to live while the work is done? building is massively disruptive and costs can spiral, have you got the cash to finish the job?

I did my first total refurb 15 years ago in a rising market, and whilst i made a load of money, i couldn’t hand on heart say that i actually made much more than if i’d done and spent nothing and just let it go up.

The house went up £160k, but i spend about £60k and i lived in a building site, spending all my spare money to achieve an increase that probably wasn’t that much more than the property might have ended up at anyway. i might have ended up with £50-75k profit doing sod all.

Definitely consider if it’s worth it, especially if you have no good builder contacts or DIY time/abity.

[Jobbo]

Rich’s is good advice. I remember most of Sarah Beeny’s original series people only made money because the property market had been rising while they were doing the work. Now the cost of work is more than then and the market is not rising as it was in the 2000s.

But if you can get a fixed cost job, can cope with the work and know you’ll make a profit then maybe it’s a no-brainer.

[Gavster]

All useful feedback, thanks guys

@DeskJockey I was wondering this, however, the layout of the flat also means that turning one of the current bedrooms into another reception room would be a logical choice to should solve that. To be fair though, the layout isn't as naturally suited to that as a purpose-designed duplex flat where the lower floor is designed to be all reception rooms.

@Rich B Due to having a dislike of building work I'm aiming for a fixed price quote with a specialist contractor that has a good track record. Been through at least five firms so far, dismissed or simply not aligned with a few, had a couple of estimates (not quotes) and got another one due to come next week. Although, from my understanding, the cost of building work has increased significantly over the last 5 years?

The disruption is a problem because I film here. I do also want to move out, so am also considering getting a studio space to work from, or even just moving out completely. But you're right that is the biggest hurdle to solve.

The real reason to do this is because it's just me here, I don't have family or dependents or any of that stuff, and I want to maximise the value I get out of this property when I sell at some point in the next few years. @Jobbo the property market is a bit stagnant here, but I'm noticing a big shift in the type of properties for sale in this neighbourhoos comnpared to 10 years ago when I moved. It was all slummy ex-rentals, but now people want more polished and nicely finished places, because they're moving here from Hackney and it's only 18 mins to Tottenham Court Road on the Lizzie line. I probably need to consider what a buyer would want, rather than what I want. It makes no odds to me, if anything I'm more likely to let the flat out next than live here myself.

[Rich B]

i ended up renting another house when i did my current house, that was £4k needed to factor in - short term rents are difficult and expensive! and all your stuff, i built a big storage box in my garden to house my stuff, you’ll need to factor in storage costs. Doing a dormer in a flat, your whole flat will need to be totally clear and vacant for a good few months.

5 builders in, i expect you’ve gone through any recommendations and are now just hoping for the right one to turn up - what are you basing your budget on? a complete renovation of a flat in town is about as awkward as it gets for resi work, so expect inflated prelims/demo/wasreaway.

i sound very negative, because i know how all encompassing it can become, though saying that - it is a million times easier doing it without children - so if you’ve any plans for that, do it before they arrive!

[Gavster]

The budget is simply based upon the estimates I get. I'm looking for a firm which has a good history of recommendations/references/reviews, has been trading a long time, can give plenty of examples of previous work and who manages to identify any of the potential issues my property will face with this work. First company to visit seemed like they didn't want the job, he quickly tallied up something in the region of £120k, which is bonkers for this work. Last year I was advised around £60k by a rather unreliable builder who is definitely not getting the work, and because people love to boast about how cheap things should be, I'm taking that with a pinch of salt

What you're saying about disruption is true, and it's easy to focus on whether the building could yield a return. A more important exercise for me right now is working out how I can continue living and working consistency for 4-6 months, plus the costs and time needed to do that, when my flat is my office/studio.

[Mito Man]

If you’re going to stay there and want to do it then it’s surely better to do it sooner? Material and labour costs have generally risen more than inflation. Material far far more.

[Jimexpl]

The budget is simply based upon the estimates I get. I'm looking for a firm which has a good history of recommendations/references/reviews, has been trading a long time, can give plenty of examples of previous work and who manages to identify any of the potential issues my property will face with this work. First company to visit seemed like they didn't want the job, he quickly tallied up something in the region of £120k, which is bonkers for this work. Last year I was advised around £60k by a rather unreliable builder who is definitely not getting the work, and because people love to boast about how cheap things should be, I'm taking that with a pinch of salt

What you're saying about disruption is true, and it's easy to focus on whether the building could yield a return. A more important exercise for me right now is working out how I can continue living and working consistency for 4-6 months, plus the costs and time needed to do that, when my flat is my office/studio.

It's an opportunity to live/work somewhere else for a while, if you don't have to be in London for work. Could you do that?

[GG.]

Funny to see this discussion on renovation cost/benefit as coincidentally we have been debating the same thing.

For us its in the context of selling ours - our house is a very nice version of its type (London late Victorian terrace) but it has a separate kitchen and dining room and we've had a number of people who have viewed say it was a deal breaker as they want a sit in kitchen / diner.

Its all rather asking for moon on a stick as if it had a kitchen diner extension we'd likely be asking another £50k or more for it but people seem unable to see past it and won't even offer under asking with that taken into account. The question then is, how much would a side return extension cost (i.e. if the buyer did it). In London you're looking £125-150k to do that (including kitchen) and you can quickly see that in a stagnant market you're going to be spending 2x+ what you'll ever get back.

That's even the same for us doing "ordinary course" type renovations - replacing windows, repaving the garden, re-doing the front wall and path. We've probably spent £80-90k doing that over the last 8 years and I don't think we'll see any reflection for that in sale price.

We did recently complete a full brick clean and re-point at the back of the house. I'll put some pictures on here at some point once I've found a replacement for imgur.

[Gavster]

@Mito Man Totally that, I'm sure the cost of this work has gone up by at least 20% in the last ~5 years from what people in the neighbourhood have told me. Doing the work sooner, even though I don't need it, could have financial benefits.

It's an opportunity to live/work somewhere else for a while, if you don't have to be in London for work. Could you do that?

Hehe, totally, I've been countryside-curious for a while and it could be an amazing opportunity to try living outside of London for a while. In fact, I could see if that barn in Suffolk is available for rent again soon

[Mito Man]

I’m surprised it’s only 20% more in the last 5 years. The building materials I frequently purchase are at least 100% more!

[DeskJockey]

@Mito Man Totally that, I'm sure the cost of this work has gone up by at least 20% in the last ~5 years from what people in the neighbourhood have told me. Doing the work sooner, even though I don't need it, could have financial benefits.

It's an opportunity to live/work somewhere else for a while, if you don't have to be in London for work. Could you do that?

Hehe, totally, I've been countryside-curious for a while and it could be an amazing opportunity to try living outside of London for a while. In fact, I could see if that barn in Suffolk is available for rent again soon

Be more ambitious! You did the Mediterranean diet thing, now go live in northern Sweden, outer Hebrides, or Iceland using the time to create a series of fantastic videos on various platforms that end up paying for the whole lot!

[Gavster]

Funny to see this discussion on renovation cost/benefit as coincidentally we have been debating the same thing.

For us its in the context of selling ours - our house is a very nice version of its type (London late Victorian terrace) but it has a separate kitchen and dining room and we've had a number of people who have viewed say it was a deal breaker as they want a sit in kitchen / diner.

Its all rather asking for moon on a stick as if it had a kitchen diner extension we'd likely be asking another £50k or more for it but people seem unable to see past it and won't even offer under asking with that taken into account. The question then is, how much would a side return extension cost (i.e. if the buyer did it). In London you're looking £125-150k to do that (including kitchen) and you can quickly see that in a stagnant market you're going to be spending 2x+ what you'll ever get back.

That's even the same for us doing "ordinary course" type renovations - replacing windows, repaving the garden, re-doing the front wall and path. We've probably spent £80-90k doing that over the last 8 years and I don't think we'll see any reflection for that in sale price.

We did recently complete a full brick clean and re-point at the back of the house. I'll put some pictures on here at some point once I've found a replacement for imgur.

Whereabouts are you? Is it Chiswick or am I imagining things? You're definitely giving west London vibes Do you think that not having that extension actually devalues your property, in the context of surrounding properties which do have that feature? You say you'd add £50k onto the price, however if you're not getting any offers right now, does that mean you're currently over-valuing your property too?

A friend down the road had a similar conundrum to you with a similar style property by the sounds of it. He got architect plans drawn up to extend the back to create a large kitchen/day room, adding a bathroom + pantry where the current kitchen is, and began getting quotes. In the end, he pulled the plug because it was getting silly. He would need to spend £100k on extending, he wouldn't get that returned, and half of the reason for doing it was because it would make the property more desirable, e.g. it's what the next owners would want if they had a family. He doesn't have a family, nor does he plan on selling soon either it simply didn't make economic sense.

[DeskJockey]

One point not mentioned is what in Danish is termed "joy value". If you're only motivated by the financial return then that's one thing. But if you're thinking it would make the property much nicer to live in while you're there, that too has a value.

Appreciate that @GG. is really on the move, but you don't seem to be quite there yet.

[GG.]

Funny to see this discussion on renovation cost/benefit as coincidentally we have been debating the same thing.

For us its in the context of selling ours - our house is a very nice version of its type (London late Victorian terrace) but it has a separate kitchen and dining room and we've had a number of people who have viewed say it was a deal breaker as they want a sit in kitchen / diner.

Its all rather asking for moon on a stick as if it had a kitchen diner extension we'd likely be asking another £50k or more for it but people seem unable to see past it and won't even offer under asking with that taken into account. The question then is, how much would a side return extension cost (i.e. if the buyer did it). In London you're looking £125-150k to do that (including kitchen) and you can quickly see that in a stagnant market you're going to be spending 2x+ what you'll ever get back.

That's even the same for us doing "ordinary course" type renovations - replacing windows, repaving the garden, re-doing the front wall and path. We've probably spent £80-90k doing that over the last 8 years and I don't think we'll see any reflection for that in sale price.

We did recently complete a full brick clean and re-point at the back of the house. I'll put some pictures on here at some point once I've found a replacement for imgur.

Whereabouts are you? Is it Chiswick or am I imagining things? You're definitely giving west London vibes Do you think that not having that extension actually devalues your property, in the context of surrounding properties which do have that feature? You say you'd add £50k onto the price, however if you're not getting any offers right now, does that mean you're currently over-valuing your property too?

A friend down the road had a similar conundrum to you with a similar style property by the sounds of it. He got architect plans drawn up to extend the back to create a large kitchen/day room, adding a bathroom + pantry where the current kitchen is, and began getting quotes. In the end, he pulled the plug because it was getting silly. He would need to spend £100k on extending, he wouldn't get that returned, and half of the reason for doing it was because it would make the property more desirable, e.g. it's what the next owners would want if they had a family. He doesn't have a family, nor does he plan on selling soon either it simply didn't make economic sense.

No we're East Dulwich not W4. Not having a side return / kitchen diner is really priced in - I wouldn't say it devalues ours (not having a kitchen diner is as common as having one) but obviously some people are looking specifically for that feature despite the price consideration. Some have come back for a second viewing because they really wanted a kitchen diner but funnily enough those with that feature priced the same as ours are smaller houses or with worse decor.

I've kept a very keen eye on what everything else is priced at in the local vicinity and anything in the price bracket below is either a half house (a funny East Dulwich feature we're you share a front door with the neighbour and your staircase is in your lounge) or is just significantly smaller / a dump. Interestingly the stuff that's 100k cheaper is generally worse value for money when you look at square footage (i.e. if we matched their £/sq ft we'd be asking more).

We had an offer (who then pulled out for different reasons) 5% below asking and I don't think we had any feedback that it is priced too highly. Ultimately the budget shitshow has stalled the whole market and affordability for a lot of people is stretched. Our mortgage is 1/3 more now than when we bought the best part of a decade ago just because of rates.

[GG.]

One point not mentioned is what in Danish is termed "joy value".

My joy value is limited to getting rid of it

For the past couple of years I've been thinking I'm predominantly doing this (i.e. improvements) for the next owner...

[Jimexpl]

@Mito Man Totally that, I'm sure the cost of this work has gone up by at least 20% in the last ~5 years from what people in the neighbourhood have told me. Doing the work sooner, even though I don't need it, could have financial benefits.

It's an opportunity to live/work somewhere else for a while, if you don't have to be in London for work. Could you do that?

Hehe, totally, I've been countryside-curious for a while and it could be an amazing opportunity to try living outside of London for a while. In fact, I could see if that barn in Suffolk is available for rent again soon

Our place in Cornwall can always be made available outside of school holidays for a sensible money.