Buy home then extend?

F1fan

Hi all,


I am actively looking for a house to buy for the last 18 months plus. Currently renting. A house has come on the market in the most ideal, brilliant location. Am pretty restricted when it comes to area due to family circumstances.

The thing is, the house is, well, not nice. There are much 'nicer' ones in the town I am buying in, but again due to circumstances I am restricted. The house is 3 bed, when really we need 4. There is no utility, and only one bathroom. Now, I know people are buying houses made out of cornflake boxes in Dublin for millions, and I probably sound very picky, but we are renting a fabulous house we have been in for years and this one is very different.

Anyway, my question is, would it be very foolish to buy this property and immediately convert attic and put in extension? Depending on if seller accepts a lower offer than asking price this could be financially viable. Am I bringing a lot of work on myself? Should I keep looking, or settle for this house which tbh is awful looking cosmetically/much smaller than we would like?

Any viewpoints appreciated, thanks.

Location location location so I'd be tempted too. You need to get quote on work you need done from a professional and then work out what price you would need to get it for to make that viable. Make sure what you do adds enough value to the house that you would make it back if you ever had to sell (even if that's very unlikely better to be safe than sorry).

jimmycrackcorm

Deleted User wrote: »

Location location location so I'd be tempted too. You need to get quote on work you need done from a professional and then work out what price you would need to get it for to make that viable. Make sure what you do adds enough value to the house that you would make it back if you ever had to sell (even if that's very unlikely better to be safe than sorry).

Sound advice especially about location. But over a longer period of time you would actually make the value back. Whereas you might get some satisfaction from your current spacious living, that's only spending on the here and now.

Colonel Claptrap

I'm reminded of that old adage: buy the worst house on the best street.

First Up

Location.
You can change everything else.

F1fan

Thanks everyone. That helps, I was questioning if I was crazy to buy somewhere that will need so much done to it, but the benefits out weigh the cons. I will be in a perfect area, and the work can get done bit by bit.

PhoenixParker

Check planning permission and Google satellite maps to see if other people have extended and what they've done on the same street. It'll give you an idea if there might be any issues extending.