Do we proceed with house or not?

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Morning all,

Firstly, neither I nor my husband are DIYers.. my mind is willing but I don't have the skills or confidence and sadly, no peers to ask. So, I'm on here looking for some advice on a property that we have made an offer on however, following two surveys, full structure and an independent damp survey (IDS), we are unsure whether to proceed. Main concern is that once we commit, any works we might start become more than we bargained for and costs will just spiral.

We provided reports to EA as requested and based on cost to bring property up to standard we were able to reduce sale price by £20k. It's a 1900 end terrace with the main two problems being:-

1) Damp to ground floor, lounge, kitchen and dining room which we've been advised by the IDS is due to salt-contaminated plaster and lack of ventilation, air bricks covered up so ground level at front will require lowering, and internally, removing salt-contaminated plaster back to bring and replastering; additional air bricks installing
2) No fire party wall in loft (or kitchen extension).

Additional works required:-
3) Guttering needs a couple of new stop-ends, no guttering to rear porch
4) Roof is only slates on roof timbers, i.e. no covering so that would have to be done at some point, timbers are good though,
5) Repointing to house exterior walls
6) Replace porch flat roof and repoint
7) Replace outhouse corrugated roof and repointing outhouse
8) Repointing to chimney, cover one chimney, put cowl on another, increase ventilation of closed chimney in dining room
9) Gas and electricity - inspections required (concerns here are that we are told heating system is old although boiler is fine but no service certificates); or that place needs to be rewired.
10) Remove door to stairs, replace door from dining room to kitchen

And there's other smaller jobs, and of course then redecoration, new flooring, shower, possibly new kitchen if damp works means taking out the existing kitchen units.

We have had a very rough estimate from the house surveyor of £16k to get the above works done and we would have £20-25k max, however we appreciate that this may be optimistic and need to get realistic trade quotes for the works. What our main concern is, that we start getting work done and then find out this or that needs replacing which we never budgeted for.

I started researching yesterday fire party walls in lofts and the paperwork/time/work involved and had a bit of a wobbly. Also, there would be very little DIY that either of us could do so it would be all work for trades. Plus, with us both working full time, how can we fit that in with being home for the trades?

So now we're both thinking - perhaps we just don't have the experience to go through this project, both mentally and financially. The house is a good size for a 3 bed end terrace - that's why we don't know what to do and the market currently where we are is lacking in suitable houses in our price range - they keep going way over asking/guide price and we're outbid every time.

Jobs may not seem a big issue to others and perhaps we're just being overly concerned?? Any advice please? Thanks so much.
 
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Firstly you have to realise that a surveyor has to justify the cost of his survey, he not going to charge you several thousand pounds for a blank piece of paper because he cannot find anything wrong with the property .
It all depends on how much you want the property.
The problems and costs are relative to the age of the property and do not appear to be major problems
The surveyor has saved you £20 K get prices from builders and if you can keep the price below the Surveyors figure then you have broken even on a property you want .
 
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Dont forget a contingency of at least 10% and probably more.
There may be local colleges that do night/part time classes or b and q used to do classes. You could always ask on here for some of the smaller work, guttering stop ends etc.
 
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If it's a tatty old terrace then it will still be a tatty old terrace but with basic liveability and functionality restored after you have done those works. To fully modernise a neglected terrace to "magazine" standard using tradespeople could be £50-60k. These houses generally only really represent VFM for diyers and experienced developers who can gut them and refit within a budget.
 
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If you did it up and then a new buyer had a full server like you did immediately after, you'd still get a list as long as your arm. You've knocked it down price wise so you won't be out of pocket to get the house you want. You'll likely find this on any house of that age. Go for it.
 
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If it's a tatty old terrace then it will still be a tatty old terrace but with basic liveability and functionality restored after you have done those works. To fully modernise a neglected terrace to "magazine" standard using tradespeople could be £50-60k. These houses generally only really represent VFM for diyers and experienced developers who can gut them and refit within a budget.

Depends what you mean by tatty old terrace - it's a semi or end-terrace and inside actually ok, by our standards, but surveyor has just recommended several things to be done. We don't have the budget for magazine standard and we're not after that - as long as it's liveable, decorated to our taste and works for us, that's all that matters. We don't intend to get work done and then simply resell it.
 
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If you did it up and then a new buyer had a full server like you did immediately after, you'd still get a list as long as your arm. You've knocked it down price wise so you won't be out of pocket to get the house you want. You'll likely find this on any house of that age. Go for it.

Yes probably lol.. surveyor has got to produce a report of some sort. There are some things that are probably not essential to get done immediately anyway. We're currently getting jobs priced up. Thanks Mottie.
 
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