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Buying an unfinished house

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  • 21-06-2011 10:25am
    #1
    RyanAsh
    Registered Users Posts: 115 ✭✭


    Hi all, im considering buying an unfinished house (2400 sq ft) & wondering if i did how i'd go about getting it finished. So basically its just brickwork & initial concrete floors in, windows, doors & roof. It has no plumbing, electricity, plastering etc. I wouldn't have time or the knowledge to manage it myself so wondering can I hire someone like a project manager who would cost it up from the plans before i'd make an offer on the house? Obviously i dont want to buy the house if its gonna cost too much to finish it or will take ages.... thanks!


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    #2
    theduffer
    Registered Users Posts: 248 ✭✭theduffer


    Hi RyanAsh,

    Just make sure the banks will lend to you if you have your heart set on the house... They take a dim view of unfinished houses. I looked into the possibility of buying an unfinished house, mortgage adviser said they would lend the money to buy the house "as is", I would have to then find the finance to finish the house (€140K), they would then give me the remainder of the mortgage once the completed house was inspected..... Only in Ireland.... Anyway Best of Luck


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    #3
    staker
    Closed Accounts Posts: 5,677 ✭✭✭staker


    I know a few local former foremen/site chargehands who have gotten into this contracting PM game so I'd imagine you could get a competitive price on the completion costs.
    Whether or not they have the required PM paperwork,if there is any,is a differnet story.


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    #4
    kkelliher
    Registered Users Posts: 1,583 ✭✭✭kkelliher


    get a quantity surveyor to price it up for you. The price could be based on a site visit (which the auctioneer should have no problem arranging as it will show you are interested) or based on a survey carried out by an architect or surveyor.

    The finishes are generally the more expensive part of the build as its when you get involved in spec


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