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Crosswall Construction Property

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  • Crosswall Construction Property

    Hi!

    I would like a little advice (well, as much as possible really) on buying a crosswall construction property.

    I have put an offer on one which has been accepted. The property is a two bedroom end of terrace, reasonable size, with front and back gardens and garage to the rear.

    It benefits from uPVC double glazing throughout and relatively new PVC cladding on front and back walls.

    The property was built in 1965 and the interior appears to be all original but in excellent condition.

    I have agreed a purchase price within the stamp duty level so will benefit from a saving there, also. The purchase price is around 75% of what a property of the same size would sell for if a) it was conventional construction, b) newly refurbished, and c) in the same place.

    Is this a reasonable margin? I know there are so many factors to consider and no one can give an absolute answer but I'd be really keen to know as much as possible before I instruct a conveyancer etc.

    I have a budget of £7,500 to:

    Install gas central heating (all done by a reputable installer)
    Install a new kitchen (maybe get a fitter for some of it)
    Update the bathroom (suite is new but would benefit from more expensive fittings on the basin and bath etc) - maybe a plumber for some work but little.
    Install a shower
    Redecorate throughout (mates and I will do this, materials only)
    Modernize the electrics (a spark friend and I will do the work so again parts only)

    After which the property will be very chic, open plan, and modern. It would appeal to any youngster with an eye for style IMHO.

    I think the budget will be enough as there's no structural issues to address and the property is under 40m2 footprint.

    So what does everyone think? Too expensive a purchase price? Too much of a risk buying a crosswall property? Too little a budget to fix the place up? Difficult to make a margin on that?

    I'm just guessing here and have no experience whatsoever so I'd rather be put in my place now than have that sinking feeling when the house has been re done and on the market for over a year with no offers that generate a profit...
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