Property Ladder hurrah!

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Mungo Henning wrote:

Not at all, since we did all of those things, but when looking back, the cost-to-sell, when taken away from the current value is about equal to money spent, and most importantly, we have a house that simply could not have been got any other way.

The key thing is to listen to advice, but not take all of it. Bits of advice I got from my builder that worked were 'make the rooms as big as possible' Bits that didn't were 'you don't need a big flue on an open fire' and you can't use underfloor heating as your sole heating on teh ground floor'. And of course 'it doesn't get much more expensive just because its bigger'
total cost about twice his estimate, ene sacking him halfway thtough, and its still not finished :-)
Never mind, get another chunk of finishing done this Xmas.

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Oh aye, one more point: on these programs you see the developer changing their mind on the spur of the moment. Just like "I think I'll put a skylight there" or "I'll just create a corridor there".
Now if I tried that here in Scotland I'd probably be lynched by Building Control at the local council. So my presumption is that the regulations are different down in England.
Someone wanna confirm/deny this with regard to spur-of-the-moment changes to plans?
TIA
Mungo
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I wasn't happy with him just cutting a hole for the skylight. No props, no trimmer joists. Nothing. Cut two rafters just like that.
Making a corridor is less so, although the holes in the wall could be structural.
Christian.
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So they bought for 50K, spent 15K, and sold for 92K
That looks like a profit of 27K before costs of purchase, sale, and interest, (notional if not actual).
They didnt sell it for 75K, and a valuation for its own sake is often way out, so we will never know what they might have sold it for.
--
Richard Faulkner

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And presumably the taxman will want around 8K of that. It's all gambling. I know people who were standing up when the music stopped in the 80s, and still haven't recovered.
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On Wed, 19 Nov 2003 20:05:04 +0000, Richard Faulkner

Of course but it would have undoubtedly gone for much more than the 50,000 they paid since the other house in the area would've too. For what it's worth the valuations they got after renovation ranged from 85 to 90,000, they sold for 92.
What the presenter was trying to get them to see is that they didn't make the whole profit from the renovation and they *may* have even made a loss on that part. This was not a couple just doing up their own house to sell but a couple attempting to make money through development, if they continue in this way they may never be out of pocket but they're not going to make a living. The bulk of the work was done by friends and a builder working for a special rate meant there costs were much lower than they could have been. They also added the rent they made renting the house out prior to renovation into the sums.
Colin
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"Colin Blackburn" wrote | What the presenter was trying to get them to see is that they didn't | make the whole profit from the renovation and they *may* have even | made a loss on that part. This was not a couple just doing up their | own house to sell but a couple attempting to make money through | development, if they continue in this way they may never be out | of pocket but they're not going to make a living.
Exactly. They never seem to take into account that they're supposed to be paying themselves a wage out of this. No point in going through all the aggro (even if some of them don't actually work very hard) to end up with a profit less than would be achieved by staying in an easy 9-5 job.
Owain
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Is anyone (other than me) watching the 1 million property experiment on the Beeb? Every weeek you get two arrogent blokes ignoring well meant advice. They are going to have to get their comeuppance soon!
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the
Sadly the two blokes are fellow Scots. In the week before last they said on camera that they had worked "so hard" ... keyrist! picking a kitchen in a fancy kitchen store!
So how about a new telly program - Sarah and one of the Scots lads (Colin and ????) to actually do some "first level" diy in a pair of houses. This is just to see if Sarah can actually do what she says, and to show one of the boys what real work actually consists of.
In their defence, I wonder if the pair of lads slipped into "daytime tv" mode. I'm starting to refer to all such daytime "home" shows as "superlative tv" - all full of "wonderful", "brilliant", "gorgeous" and other inappropriate adjectives.
Mungo
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They shall forever be known by me as Julian & Sandy . . . .
--
fred

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Bona Builders :-))
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6mins into tonight's programme and all I can say is WANKERS
oh, and LOL btw :-)
--
fred

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