Found a house i like, cost of renovations!

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Slaphead

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I was looking at a house today that ticks all the boxes, location wise etc. Problem is that it was in a bad way internally. The asking price was low(220k, i know someone that bought a neighbouring house for 265k 2 yrs ago.) so i reckon i can get it for maybe 180k or lower seeing as it's in such bad condition.
If i can get it for 170k what will all the renovations cost me?

1) For starters it had the dreaded damp spots on downstairs ceiling from a shower and a bat tub in two seperate bath rooms. Normally i wouldnt go near a house with this on principle but how much would it cost to fix both of these leaks?

2) Kithcen: Need's to be totally renovated, with all new appliances

3) Floors: Both upstaris & downstairs, we'd like wodden floors all over(i have a dust allergy and try to avoid carpets). I reckon this would be too difficult to do myself so labour would have to be included.

4) Solar panel heating: A longer term project, a friend of mine will do this as cheap as it gets, cant remember the price he said.

5) Insulation: Would like to get this improved at some point aswell if neccessary.

Would it be possible to do all this for under 50K?
 
If your roof is OK and the windows, wiring and piping ditto, then you should have no problem.
 
Simeon said:
If your roof is OK and the windows, wiring and piping ditto, then you should have no problem.
Click to expand...

Afaik these are all fine, its a nice estate and i know ppl in the houses and their all happy, its just this house need's an aesthetic makeover. It's practically unliveable as it is.
The piping might be questionable if both upstairs bathrooms have leaked.
 
If I was in your shoes ......... fit new sockets, switches and light fittings.Do any plumbing necessary and box in pipes. Insulate attic with appropriate material. Insulate between floors and reslab ceilings. Mushroom insulation board onto external walls, fit new door frames, make good defective background plaster. Skim out. Fit new floors. New doors, skirtings and kitchen. After the plaster dries out ....... paint! Good luck.
 
Ive been doing a bit of my own research and am wondering if someone in the know could tell me am i a million miles away from Reality?

Spoke to a plumber mate of mine who said i'd get:
Solar heating: 9 radiators, underfloor downstairs 10k
Gut 2 bathrooms & waterproof no more than 5k
Replumb kitchen no more than 2k

My own estimates
total new kitchen Less than 10k?????
Floors Labour and parts whole house Less than 5k??????

Living room stove, installation & cost Less than 1k??????
Ceiling repair Less than 1k
Alarm installation Less than 1k??????
Ceiling repair Less than 1k

So all in all im looking at 35K???
 
dream on.
Renovation costs - like all building costs - are very high.
50K wont go far. Have you not seen those tv renovation programs.
The thing is once you start you'll think or discover lots you should put right to save you money later on.

I've renovated three houses in my time.
I've come to realise that people in this country pay nearly the same price for a wreck as they would for a complete house because they always understimate the sheer expense involve in renovation.

If the house is a wreck then you should estimate the cost to be that of a complete remodelling which will come to 50 - 70% of the cost of building it from scratch.
 
sfag said:
If the house is a wreck then you should estimate the cost to be that of a complete remodelling which will come to 50 - 70% of the cost of building it from scratch.
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It's not that poor realy, just looks very shabby. Afaik no more than 6-10yrs old. Presumably wiring, windows, roof & plumbing are fine, no obvious damp or anything. Just a new kitchen, new floors, new bathrooms.

Would 40k not cover it?
 
Stove and installation will almost certainly cost a lot more than 1k - if you need any work done to the chimney breast (likely), a new hearth, redecoration, flue lining and flue hood (second is very probably not the right term) and the actual stove, you could be looking at 2.5-5 times your estimate, depending on how handy you are, where you're based, and whether you know anyone who'll give you good rates.

Floors - you need to give an idea of the floor area to assess the price. It also depends on how high end you want - if a laminate will do you, you could be looking at €20 per square meter fitted. But if your tastes are not just solid wood, but expensive solid wood (anyone for hand-scraped antique French oak?!), you could easily pay €150 psm before you even get the stuff home. [You'll need semi-solid downstairs if you're having underfloor heating, but you can spend scary money on a good semi-solid too].

Ceiling repair costs look higher than necessary (possibly by quite a long way) - just be aware that if there's been water (or nastier stuff) leaking for a long time you may have a bigger problem. There could be damp and rot in joists and in adjacent stud walls, and they could need to be replaced / treated. Given the age of the house, it may be okay, but you absolutely need a surveyor to assess that - the additional cost might be lower than you expect but it all adds up.

You won't get alarm installation for under €1k unless it's already wired. Even then, without knowing the size of the house, it's hard to assess but it may be doable. If it isn't pre-wired, you're looking at either a wireless system [expensive] or complete wiring, chasing and installation [probably more expensive].

Heating looks a little low, but if you've a good deal from a mate you trust, then go for it. Have him check out the boiler (if any?) too. You won't get your heating from solar alone!

My (newly developed voice-of-experience) rule of thumb is:
1. Add everything up.
2. Then add 20% for contingencies.
3. Take that, and add another 20% - for the stuff you decide is worth spending more on / general disaster / sudden discovery that more things are wrong than you ever expected / professional fees, etc.

Expect your budget to go that high. You may be lucky, and all may go well, but you have to be able to finance that much without living on bread and water. If you're on a really tight budget but you still reckon it's worth it to you, suss out what you can leave out of the specification to do later and - if possible - time the project so that you can omit it if you're running out of funds.
 
Slaphead said:
My own estimates
total new kitchen Less than 10k?????
Click to expand...

I would think 10k for a total new kitchen is a bit low, you could probably do it if you were to pick the cheapest of the cheap but when you go to choose it are you really going to be happy with the cheap kitchen when the more expensive ones look so much better (in my opinion).
Also appliances are expensive even the cheap ones and add up also when when choosing for your own home it is hard not to want the nicer (more expsnsive ones). Why not get a list of what you'll need and check out prices in DID or somewhere like that to give you an idea.
 

I would in general agree with this. People seem to pay a premium for houses that need work done. Rather than buying a newer/ more recently refurbished house they buy a cheaper house and then spend more money refurbishing it than price of new house. and they have to put up with the hassle/stress of getting builders in, etc. At the same time they have an end product that they have their own stamp on.
 

Great post, exactly what i was looking for. At the moment i reckon im looking at 35-40k, say 40k.
(20% of 40k =8k) + another 20% on that for eventualities (9.6k) giving me a total of 57.6k i should be prepared to pay on it.
If i ended up paying 170k + 60k for the house exactly how we'd like it i'd be delighted. I've been approved a mortgage for near 300k either way so thats no bother.
Thanks again for the advice
 
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