From £285K to £750K in 19 months?

[beefer]

This property is for sale at £750K but last sold for £285K in May 2021.

Sure the owner has done a little work but!

https://www.rightmove.co.uk/properties/130307372#/?channel=RES_BUY

https://www.rightmove.co.uk/house-prices/details/england-103301378-13386376?s=d375a2be6e8da27d5fa77dd8bad0e453261f29eb887cde94e530b3f80deaa875#/

 

Edited January 1, 2023 by beefer
grammar and spelling

[PatronizingGit]

I shall call that an 'eggs all in one basket' renovation. 

95% of the budget seems focused on one big room. It appears to have a small single garage that is will probably only fit a small car. They havent even given it the 'Farnham Facelift' treatment...ie the increasingly ubiquitous rendered walls, dark grey window frames & random pits of pine coloured wood..

 

[Joncrete Cungle]

It's very close to the M5 motorway

 

[Boon]

Seen a few of these around me; basically a premium conversion but stuck on a average house, in an average neighbourhood so looks very incongruous. Just look at the street view.

A product of the stamp duty holiday and maximum bullishness in the market.

Layout seems odd to me, incredibly spacious on the ground floor but not so on the upper floor. The size implies a family home but the garden is not.

If you could afford the asking price you will be a different class to most of the neighbours.

I do think a certain type of person is going to like it, those who want silent bragging rights on having the biggest house in the street.

[eek]

The logic is buy the worst house in the best street not the best house in a poor street.

 

this is very much best house in poor street..

Edited January 1, 2023 by eek

[Sasquatch]

That's a properly depressing back garden yard. Do they feed their guests straight into the oversized pizza oven?

[King Penda]

14 minutes ago, Sasquatch said:

That's a properly depressing back garden yard. Do they feed their guests straight into the oversized pizza oven?

Paging @Milfhunter2021

[nirvana]

pointless 'UK house'....why? cos the garden is shite and about one third of the downstairs footprint is a 'guest bedroom' that hardly gets used......unless you need to supplement your hefty mortgage payments with airbnbers half the time 

[reformed nice guy]

The owners are going to learn the difference between price and value

[Axeman123]

11 hours ago, PatronizingGit said:

I shall call that an 'eggs all in one basket' renovation. 

95% of the budget seems focused on one big room.

Nailed it. If you want a space like that in that area you will have very little choice short of much more expensive properties, which is where they are likely getting that silly price from.

48 minutes ago, nirvana said:

about one third of the downstairs footprint is a 'guest bedroom' that hardly gets used

I am guessing the developers are wogs, or marketing it to them. A whole second family can live in there, and be the skivvies. Alternately grand parents can live in there and not have to deal with stairs. Even the paved back yard makes total sense for less mobile elderly using it.

[spunko]

"Lets just stick it on the market and see if anyone bites".

I vaguely know someone doing this right now, used to go to my gym (he was also a possible swinger but that's another story). Bought a property for £1.4m in 2014, spent about £500k doing it up in the interim, and has just stuck it on the market for... I'm not even joking... £4m.

 

Nationwide's historic house price calculator says that a property bought for £1.4m in 2014 will now be 'worth' £2.0m round here. Where is the other £2m coming from? I wouldn't have the brass neck.

[spunko]

12 hours ago, PatronizingGit said:

Fucking hell. This trend of anthracite windows and doors and the red cedar panelling is already massively dated. It just looks awful IMO.

IMO the only thing they needed to do was get rid of those weird upper door-window things and maybe extend the gable out that way, it would have looked 10x better.

Looking at that house now, it just stinks of "bought it with the intention of renovating it and selling". Schadenfreude maybe but I really cannot wait for these unskilled tossers to lose their shirts very soon as the cheap money well runs dry. You can tell they wax lyrical about how brilliant their renovation is to anyone who'll listen. Really all you've done is rendered it, replaced the windows and generally just ruined it. And "you" didn't really do any of it, all you did was get a loan from the bank and speak to an architect. Not exactly skilled is it?

Edited January 1, 2023 by spunko

[Joncrete Cungle]

5 minutes ago, spunko said:

"Lets just stick it on the market and see if anyone bites".

I vaguely know someone doing this right now, used to go to my gym (he was also a possible swinger but that's another story). Bought a property for £1.4m in 2014, spent about £500k doing it up in the interim, and has just stuck it on the market for... I'm not even joking... £4m.

 

Nationwide's historic house price calculator says that a property bought for £1.4m in 2014 will now be 'worth' £2.0m round here. Where is the other £2m coming from? I wouldn't have the brass neck.

Last chance in a generation to potentially bank some huge tax free gains from a greater fool?

[spunko]

Just now, Joncrete Cungle said:

Last chance in a generation to potentially bank some huge tax free gains from a greater fool?

I suppose it is a question of who is the biggest fool... but ruining a house for profit just seems quite a low-level skill to me. Certainly any idiot could do it (and does).

Same as these BTLers who boast about "buying it before the foundations went it, innit". Not a skill.

[King Penda]

3 hours ago, spunko said:

"Lets just stick it on the market and see if anyone bites".

I vaguely know someone doing this right now, used to go to my gym (he was also a possible swinger but that's another story). Bought a property for £1.4m in 2014, spent about £500k doing it up in the interim, and has just stuck it on the market for... I'm not even joking... £4m.

 

Nationwide's historic house price calculator says that a property bought for £1.4m in 2014 will now be 'worth' £2.0m round here. Where is the other £2m coming from? I wouldn't have the brass neck.

Coke is not cheap you know nor whores

[beefer]

Now its a bargain at £695K

https://www.rightmove.co.uk/properties/130307372#/?channel=RES_BUY

[HousePriceMania]

On 01/01/2023 at 01:42, beefer said:

This property is for sale at £750K but last sold for £285K in May 2021.

Sure the owner has done a little work but!

https://www.rightmove.co.uk/properties/130307372#/?channel=RES_BUY

https://www.rightmove.co.uk/house-prices/details/england-103301378-13386376?s=d375a2be6e8da27d5fa77dd8bad0e453261f29eb887cde94e530b3f80deaa875#/

 

Go and offer £250,000