Home Improvement Loans / Extentions / Shizzle

[Scouse]

Anyone done any home renovations?

Thinking of buying a house in the country which will need reasonably significant remediation work. The internals of the house are liveable in but I'd prefer to gut and redo. Perhaps a small single-story extention to the kitchen.

Outside the house is a derelict wreck of a building that I'd like to convert into an additional living space - perhaps a holiday let - which will mean a total rebuild into a single-story bedroom/kitchen/bathroom/living area. It's big enough.

House is circa 300k. I've *zero* idea how much the additional would cost and how to finance really.

Pictures? Oh go on then:
House:

Spoiler

Yes. It's to live in. Not a holiday home.

Wreck:

Spoiler

This run-down thang would prolly make a good let.

I'm a total n00b, so after any advice from anyone with experience. Resources etc. etc. Mistakes you've made.

Even when it comes to finance. How'd you finance it. @Wij - you're a contractor, have you done this sorta stuff? If so - how did you find getting hands on funds?

All advice welcome

 

[Wij]

Sorry. I paid off my mortgage years ago and have never looked for a loan since. I pay cash for everything.

Cos I'm a contractor

And I hate housey crap

 

[dysfunction]

Depends what needs doing to the place.

If it's just removing everything from within ie starting from a clean slate then I would say you are looking in the region of £20 to £30k.
If creating new space then I think you are looking at about £1000 to £2000 per Square meter.

But that all depends what's hidden away. Also would you be living there at the time? If so I then can you put up with the mess/inconvenience of it all??
Best not to live there so factor the cost of renting elsewhere at the same time.

About funding the cheapest is to get it on your mortgage if you can as that's the cheapest borrowing you will get.

You will need to find reliable builders etc otherwise the renovation could stretch much longer than expected and cost more.
Never pay a "day" rate. Always pay for the cost of the build.

Also get electrics done and then plumbing then plasterer then flooring.

You can never have too many plug sockets...or light switches.
Also decide which way you want the doors to open and place the light switches accordingly. you don't want to have the switch behind the door! Or have the door as an obstacle ruining the layout of the room.

Also consider where you want radiators. usually beneath a window but not always ideal. Depends where you want to put furniture etc.

 

[dysfunction]

Sorry. I paid off my mortgage years ago

Also....bastard.

 

[Scouse]

Yeah. I don't think I'll be able to get it added on to a mortgage (I asked my mortgage broker if I'd be able to borrow 400k, for example, instead of 300k and he said "no"). Which is a shame, because the 100k would pay for a renovation and the build of the new outbuilding I reckon - and in and of itself add that to the value of the home.

Wouldn't have to live in it during the renovation. Live at my o/h's at the moment. My house is rented out (and like @Wij, paid off - but it's in Nottingham, so worth fuck all). We'd live here during the renovation then rent her current house out after the renovation was done.

Renovating the house (small extention perhaps). New build of that wreck in the picture. Perhaps to this sort of standard. (that's a cool place to stay BTW)

 

[dysfunction]

You won't get financing of £100k unsecured so if you can't get it on the mortgage then you won't get it anywhere.

Moving to the UK and also getting a divorce I've had to reset the mortgage back to zero. So my plan now is by the time I've retired I'll be mortgage free. Yay me!

 

[DaGaffer]

Yeah. I don't think I'll be able to get it added on to a mortgage (I asked my mortgage broker if I'd be able to borrow 400k, for example, instead of 300k and he said "no"). Which is a shame, because the 100k would pay for a renovation and the build of the new outbuilding I reckon - and in and of itself add that to the value of the home.

Wouldn't have to live in it during the renovation. Live at my o/h's at the moment. My house is rented out (and like @Wij, paid off - but it's in Nottingham, so worth fuck all). We'd live here during the renovation then rent her current house out after the renovation was done.

Renovating the house (small extention perhaps). New build of that wreck in the picture. Perhaps to this sort of standard. (that's a cool place to stay BTW)

Get a different mortgage advisor. Affordability and loan to value are the criteria (assuming your credit rating etc. is all OK). What's percentage of the value will the mortgage be? Also, is your missus' place paid off as well or is that still mortgaged? If so that affects the decision criteria for this (they'll treat this as a buy to let even if you say you're going to live in it).

As for the build; all straightforward; stump up for decent windows and insulation; you'll thank yourself in the long run. As for the "wreck". It will literally cost you more to cosmetically integrate those walls into the build than to start from scratch. It can be done, but seriously consider just replicating the idea with a builder who knows about local stone. I guarantee it will be cheaper (and better from a structural POV).

 

[dysfunction]

Also are you able to get planning permission to do the extension work you want. If not then you may need to think again.

 

[Scouse]

Get a different mortgage advisor. Affordability and loan to value are the criteria (assuming your credit rating etc. is all OK). What's percentage of the value will the mortgage be?

Affordability isn't a problem (mortgage advisor says we could borrow 700k+). She's got 50%+ equity in her home (cheap as chips tho - like 110k, but rental income would more than cover remaining mortgage payments and any repairs).

The problem is loan to value - 300k "value" - 400k loan requirement (to fund renovations/build). What mortgage company does that (outside of expensive specialist ones - been reading a bit).

Maybe talking to another advisor might be a goer. Contractor friendly one is what's required though.

Good point on the renovation of the wreck though. Worth talking through.

Also are you able to get planning permission to do the extension work you want. If not then you may need to think again.

I suspect it won't be that hard - loops would have to be jumped through as it's in a national park and there'll be constraints on design. Redeveloping an existing building shouldn't pose a problem as long as the design is sympathetic and extentions are permitted dependent on more hoops.

May put something together for pre-application advice from the national park tho.

 

[Moriath]

You want to live there. Whats the interweb connection like?

I always make that my number one. Mate of mine lives out in the sticks in berkshire and gets pants internet downloading things is a pain and netflix is borderline.

You dont realise how restricting it is till you have to go back to low speeds again.

 

[Gwadien]

You want to live there. Whats the interweb connection like?

I always make that my number one. Mate of mine lives out in the sticks in berkshire and gets pants internet downloading things is a pain and netflix is borderline.

You dont realise how restricting it is till you have to go back to low speeds again.

I think if you're the type of person to move here

Then I doubt you would really care about internet speeds.

@Scouse where is it? You might have your first customer*

*Only if you have 1gig net connection.

 

[Scouse]

You want to live there. Whats the interweb connection like?

Other than for work I don't really much give a fuck. I just need to be able to run a webex. Downloading can happen overnight - I watch my stuff on Plex anyway.

I only pay the smallest fee for Virgin here - I don't need 300mbps. Probably 15mbps would do me.

But yeah, it's on the list of questions to ask

Anyway. I'd be spending a lot more time outdoors

 

[Moriath]

Other than for work I don't really much give a fuck. I just need to be able to run a webex. Downloading can happen overnight - I watch my stuff on Plex anyway.

I only pay the smallest fee for Virgin here - I don't need 300mbps. Probably 15mbps would do me.

But yeah, it's on the list of questions to ask

Anyway. I'd be spending a lot more time outdoors

Got a friend who has a larger house but not good bb. She can just do a webex but cant softphone at the same time.

And its usually something that tourists want to have when they stay if your gonna do a holiday let.

Though you could offer it as a get away from everything type of place.

Had that with mobile signals also.

You dont need a 1gigabyte thing. But my mate has like 3-4mbit and its not stable.

 

[Scouse]

Not thinking of holiday let anyway. Thinking of living there.

 

[Job]

You can get 100gb for twenty quid on vodafone, just stick a wifi hotspot on top of a tree to get 4G.

 

[Scouse]

You can get 100gb for twenty quid on vodafone, just stick a wifi hotspot on top of a tree to get 4G.

It's Wales. It's possible, but also entirely possible that phones are far too newfangled for them

 

[Job]

Wales is a dead spot for 4G though, I think Betws has got it now.

I guess that house is in Snowdonia....the trees look familiar as well.

 

[Moriath]

Not thinking of holiday let anyway. Thinking of living there.

You said an out building to make i to a holiday let. Or i dreamed it lol

 

[dysfunction]

Yes it's in his first post.

 

[Scouse]

You said an out building to make i to a holiday let. Or i dreamed it lol

Yeah, the outbuilding could potentially be a holiday let, but the main house would be mine

 

[Scouse]

Anyone done anything with Ground Source Heat Pumps or under-floor heating (not the electric kind).

Place isn't on the gas grid, so want to be as environmentally friendly and cost effective as possible if having to renovate a heating system.

 

[Job]

Don't fit them , but they do work, the holes are seriously deep, or you can dig a huge shallow one.

 

[Scouse]

Yeah. Cheaper to fit larger area 1.5m deep ones.

 

[Scouse]

So, it's been a week so I can talk to @Job again

All sorts of fun at the moment - got a septic tank and drainage survey on Friday. Structurals have been back a while - there's about £15k worth of work just to make the place airtight and liveable, before internal and ground renovation costs. However, I'm 99% certain the septic tank is either fucked, non-compliant or (probably) both. Discharging directly into a watercourse.

That's replacement with a sewage treatment plant or £100k fine. And I ain't picking up that cost (which can be anywhere from 7 to 15 grand) - especially as it was the legal requirement of the sellers to make sure that it was all compliant before 1st Jan 2020. (It's registered with Natural Resources Wales but it's a "self certified" form - and they've basically lied).

I'll get a quote or two, go back to the sellers and say "this is the deal - knock it off your house price and I'll remediate or you can stick it back on the market and good luck with that - because now it's known not to be compliant then you won't get dick".

They're dumb, so may even try to put it back on the market. So crunch time is approaching. Got the finances sorted, can fund the basic renovations (will have to figure out the rest once we get it) and are ready to pull the trigger if we can come to an agreement on this.

I've been trying to find an app that you can take a 3d survey / model of the inside of the property. Been trying out magicplan but it's a fucking DOG. Definitely doesn't work like it shows in their vids.


Going to do a water flow test on Friday (same time as survey, so why not). Suspect it's the poop (it's 200m above the valley after all). Don't know what that means for a heating system. GSHP has been kyboshed - the house is situated on bedrock. There won't be a lot to dig down in to. SO it looks like either oil or LPG. Want that to be as efficient as possible but need to be able to provide hot water to (potentially) 3 bathrooms (currently 2) and the kitchen at the same time. With suspected low water pressure I think a combi's out of the question - so that means large (3-400l) tank - hopefully something I can fit in the loft, along with a really efficient boiler. But I know fuck all about heating systems :\

Plumbing is getting pulled out anyway, and will be replaced with proper insulated stuff. Along with electrics, rewiring, new floors, massive RSJs to remove one 60cm-thick wall in the middle of the property to open it out (and give some desparately needed space).

Makes me wonder what I'm getting myself into. But it's absolutely in the right place, so...

 

[Scouse]

Oh yeah. April was my last post.

So, we went on holiday with my sister after putting in an offer (I'm not sure I haven't already re-posted on this elsewhere, but but anyway) - and didn't hear for a few days. Rang up the estate agent "Oh , they went with someone else". "Do you not want us to counter offer????!!!" Erm...

...anyway. Long story short, that fell through and they rang me at the end of November. So we pulled the trigger again.

 

[Moriath]

Oh yeah. April was my last post.

So, we went on holiday with my sister after putting in an offer (I'm not sure I haven't already re-posted on this elsewhere, but but anyway) - and didn't hear for a few days. Rang up the estate agent "Oh , they went with someone else". "Do you not want us to counter offer????!!!" Erm...

...anyway. Long story short, that fell through and they rang me at the end of November. So we pulled the trigger again.

Lots of work it seems. Bet it will be great when its done. The sewage stuff seems like a nightmare to me.

You could just do electric heating i guess? A load of solar panels and wouldnt be too bad.

 

[MYstIC G]

So, it's been a week so I can talk to @Job again

All sorts of fun at the moment - got a septic tank and drainage survey on Friday. Structurals have been back a while - there's about £15k worth of work just to make the place airtight and liveable, before internal and ground renovation costs. However, I'm 99% certain the septic tank is either fucked, non-compliant or (probably) both. Discharging directly into a watercourse.

That's replacement with a sewage treatment plant or £100k fine. And I ain't picking up that cost (which can be anywhere from 7 to 15 grand) - especially as it was the legal requirement of the sellers to make sure that it was all compliant before 1st Jan 2020. (It's registered with Natural Resources Wales but it's a "self certified" form - and they've basically lied).

I'll get a quote or two, go back to the sellers and say "this is the deal - knock it off your house price and I'll remediate or you can stick it back on the market and good luck with that - because now it's known not to be compliant then you won't get dick".

They're dumb, so may even try to put it back on the market. So crunch time is approaching. Got the finances sorted, can fund the basic renovations (will have to figure out the rest once we get it) and are ready to pull the trigger if we can come to an agreement on this.

I've been trying to find an app that you can take a 3d survey / model of the inside of the property. Been trying out magicplan but it's a fucking DOG. Definitely doesn't work like it shows in their vids.


Going to do a water flow test on Friday (same time as survey, so why not). Suspect it's the poop (it's 200m above the valley after all). Don't know what that means for a heating system. GSHP has been kyboshed - the house is situated on bedrock. There won't be a lot to dig down in to. SO it looks like either oil or LPG. Want that to be as efficient as possible but need to be able to provide hot water to (potentially) 3 bathrooms (currently 2) and the kitchen at the same time. With suspected low water pressure I think a combi's out of the question - so that means large (3-400l) tank - hopefully something I can fit in the loft, along with a really efficient boiler. But I know fuck all about heating systems :\

Plumbing is getting pulled out anyway, and will be replaced with proper insulated stuff. Along with electrics, rewiring, new floors, massive RSJs to remove one 60cm-thick wall in the middle of the property to open it out (and give some desparately needed space).

Makes me wonder what I'm getting myself into. But it's absolutely in the right place, so...

User error, magicplan is a piece of piss to use

 

[Scouse]

User error, magicplan is a piece of piss to use

Got an S10+. It runs like a fucking dog. Crashes a lot, jerky as fuck - probably because of the jerky shite it struggles to align walls and understand corners - especially if it has to understand it through furniture (but also on a test in my bathroom).

Conceptually, maybe brilliant. Execution 3/10.

 

[dysfunction]

Do you use the free version of Magicplan? Can you edit the design and move the objects around?

 

[caLLous]

GSHP has been kyboshed - the house is situated on bedrock. There won't be a lot to dig down in to. SO it looks like either oil or LPG.

I know you can't do a ground source heat pump (economically) but why do you hate air source?