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Annual maintenance budget

Discussion in 'Building' started by dcdec, 17 Nov 2012.

  1. dcdec

    dcdec

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    Hi All,

    My GF is currently looking at purchasing a house. She is keen to buy a country property or certainly something old and probably listed rather than a new or recently built place.
    In my experiance as a dec i know having worked on quite a few big buildings and old ones that maintanence can be quite high and the more switched on buyers understand that its not the price tag but price tag plus annual costs that they must consider. Its all very well being able to buy a property but maintaining it can be a struggle.
    So i'm wondering if there is anyway of estimating annual costs perhaps by taking a percentage of the properties value on a yearly basis. This would be after any initial costs and improvements are made following purchase.

    I realise this is a bit of a 'how long is a piece of string question' but i'd be interested if there is a rough guide or formula and thanks in advance for any replies
     
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  3. ^woody^

    ^woody^

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    A proper survey would detail current issues and things which will need attention in the short, medium and long term, together with costs and priorities.

    Otherwise, no, there is no formula and no % of purchase price will go on maintenance
     
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  4. dcdec

    dcdec

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    Thanks woody, i thought it's probably the case as its too hard to calculate these things. Yep, told her she must have a full survey as well
     
  5. ^woody^

    ^woody^

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    Just remember to instruct the surveyor that you want comment on current and future maintenance liabilities and estimated costs
     
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  6. freddiemercurystwin

    freddiemercurystwin

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    That'll do it! :mrgreen:
     
  7. Nige F

    Nige F

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    Yep - guesstimate @ a ballpark figure then DOUBLE it if it`s a listed building :idea: Then add 10% for the hassle of dealing with the poxy bureaucrats :rolleyes:
     
  8. HERTS P&D

    HERTS P&D

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    Don't forget a drain survey!

    Andy
     
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