alongetayo:


The renovation costs were way overhead your bugdet right?

babythug:
I’d never understand how or why you can find a nice 2 or 3 (maybe more) bed house in this UK with just ONE bathroom and toilet. Beats me honestly *rant over shuts door quietly *

shaybebaby:

Shockingly so.

Ticha:


Over running costs always catch out first time renovators or peope new to renovations.
Plus people also under estimate the time it takes, always want to move out for the renovations (extra cost) and refuse to compromise where it's needed. I'm onto my 6th one. 2nd one thst is a family home. All our rentald are doer - uppers. I'd never pay for or buy another person's design choices. My shock absorbers are now solid.

Lexusgs430:



We can never compare proper bricks vs plasterboards.......🤣😁

shaybebaby:


But...pssst...whisper in my ear.. do you have a legion of reputable and reasonably priced trades people you know?

Ticha:


Toilets used to be outside. They were a later addition to inside the house. Coupled with the fact that most people here seem to prefer to shower once or twice a week and also have smaller families plus won't usually have people visiting or staying over, you can see why they're OK with just the 1 bathroom/ toilet.

Conversely, I've seen new builds with 3 bedrooms and 4 bathrooms. Why?!!!

Ticha:


Hehe I have 2 reputable and well priced tradesmen. The problem is they will only take on a full reno as that makes it worth their while. Where are you based?

As this is our forever home in the UK, we've estimated a whole 12 months for the renovations. Before buying the house, I don go pally with the planning officers at the council sotay we have found out we have a mutual friend so smoothing my path before we start.

shaybebaby:


Lucky you, do it once and move on. But that means you must be having major works ( extension or loft conversion) done if we are softly buttering up the council

I'm in Essex..tell me you are somewhat in the same axis please.

Ticha:


Aya I'm just outside Leicester so nowhere close! Builder is in the North West. He usually just moves on site with his team until the work is finished and then moves on. Hence preferring full renos.

We're demolishing part of the house (the sun room), putting on a wrap around double storey extension, plus an outdoor brick built gazebo and converting the stables to 2 holiday lodges so full planning application plus neighbours consent and drawings are needed.
I don go butter the neighbour sef and they also want a holiday let in their back garden 😅. Competition don start even before we break ground.

Ticha:


Aya I'm just outside Leicester so nowhere close! Builder is in the North West. He usually just moves on site with his team until the work is finished and then moves on. Hence preferring full renos.

We're demolishing part of the house (the sun room), putting on a wrap around double storey extension, plus an outdoor brick built gazebo and converting the stables to 2 holiday lodges so full planning application plus neighbours consent and drawings are needed.
I don go butter the neighbour sef and they also want a holiday let in their back garden 😅. Competition don start even before we break ground.

shaybebaby:

E far small 😭 if not! Anyways my search continues.

For the words of encourage, I demand NL discount on the holiday let once its done.

Santa2:


Woow..this sounds interesting. What I would give to be a fly on the wall through this reno. Ticha na egbon you be.

Ticha:


Borrofcos! Discount for you and other Nairalanders. I shall post it up once all done!

Santa2:


Woow..this sounds interesting. What I would give to be a fly on the wall through this reno. Ticha na egbon you be.

shaybebaby:


You know it!

I'd be like the naija version of Kevin Mccleod and be saying stuff like

" Oga Ticha bought this house with a dream of transforming to a home and business..12 months down the line..its is not just a home, it is a homage to the landscape, blending architectural boldness yet nestling in one of the most phenomenal views..."

Whilst the camera pans to an arial shot of the house😆

Goodenoch:


Depends entirely on the house you buy. Just like buying a used car. The amount it'll take to fix a Range Rover that has been abused will be massively different from the cost to fix a Toyota that has been scrupulously serviced. You can buy an old build that's basically turnkey - for instance if it was just refurbished or has been maintained and updated over time. If you're buying an Edwardian-era property with subsidence, plumbing the hasn't been updated since its construction, terrible insulation, no double glazing, etc., that'll very likely be months and several tens of thousands in cost.

In short, you need to assess each house on its own merits and go with a builder if you can, or note down issues and get quotes before making an offer so you can factor the costs into what you're willing to pay upfront.

Ticha:


🤣🤣🤣 this is awesome! Hopefully I also won't fall pregnant cos Chief Kevin seems to impart belle wherever he goes! I don hang up my boots!

alongetayo:


One more question bro.
Please will the renovation costs be part of the mortgage? Or that would have to be coughed out separately? If we’re going for an old build.

Ticha:


It's not part of the mortgage o. You could potentially get a loan but it'll be extra costs that can make or mar the enjoyment of the property. You'll have to fund it from your pocket. Not all 'old' houses need renovation.

You can buy a fully renovated Georgian house (200 years old at least) and not need to lift a finger apart from move in. Same as a Mock Tudor or Victorian (100 to 150 years old) to Art Deco (1920s/1930s).

It's just that for some of us, the thrill of the buy includes putting our own stamp on it.

alongetayo:


Thanks a lot for this. Already on the search for a nice old build Abeg

shaybebaby:


You know it!

I'd be like the naija version of Kevin Mccleod and be saying stuff like

" Oga Ticha bought this house with a dream of transforming to a home and business..12 months down the line..its is not just a home, it is a homage to the landscape, blending architectural boldness yet nestling in one of the most phenomenal views..."

Whilst the camera pans to an arial shot of the house😆

teeebest:
Elders, please what should one look out for when considering house insurance qoutes?

The qoute from the insurance company that is recommended by the mortgage adviser is higher when compared to the qoutes I got from moneysupermarket.

marshallkowope:
hello,i read all posts from 1-39,

i am grateful for all the contributions.please correct me if I am wrong.

from earlier conversations I have deduced that it is better to apply for a mortgage after two years residency.

i would clock two years in uk by feb2025.if I am going to purchase a house of 450k ..
it is better I do lifetime isa 4k each year to gain 2k from uk govenment by may2025

i have a few questions
1) I tried to look for where to find homes with first home schemes in london,I found that they are almost non existent,,is it that way in London (or everywhere) or I am just not searching the right way

- Land shortage in London, lead to explosion of flats....

2)with regarding the deposit,i have read it goes through aml,would It be questioned if it is gradually built up in normal isa account or a regular uk current account here or sale of an item such as a car or jewellery

- Have evidenced financial trails, to avoid money laundering triggers........

3)is 5% ltv on 40 year repayment mortgage sensible or financial suicide ( I don't intend on paying minimum payments,i intend on making 10% overpayments when I can.....I am asking because of unforeseen circumstances for example a loss of job

- If you're 20, a 40 year mortgage term is ok..... If not, possibly lower property value threshold........ Does not mean you would remain in the same property, you can sell few years down the line and leverage on your equity........

4)for London,is shared ownership generally looked at favourably or negatively

- I would not touch shared ownership properties, they would feast on you.......😁😂

thank you

Ticha:


Yes o! Older houses every single time. Just bought a 160 year old house! Can't wait to move in and start the refurbishment.

Lexusgs430:


Simple.... The mortgage adviser receives a commission......😂

heroshark:


I still do not understand the rationale behind people preferring old houses. From my professional experience working as a consultant in the built environment, new build properties offer far more benefits compared to old houses in terms of thermal comfort and energy efficiency. They require less energy to heat and are always built to the current Building Regulation AD L, which is by far the highest standard for energy efficiency in buildings.

Old houses are generally less energy efficient and not well-suited for heat pumps unless you change the entire heating system and heat emitters. Connecting to district heat networks is also a challenge.

The UK is planning to transition to a net zero economy, and buildings are a huge focus in this. Retrofitting and upgrading the building fabric of old houses is just too expensive, and yet you still will not get the same level of airtightness.

PS: This is purely from a professional view; I don't know what people's personal experiences living in these houses are.