Average sum needed for a fixer upper

Sunrise_Sunset

Terraced house of approximately 109 sq m. Needs a complete overhaul; kitchen, plumbing, windows, electrical, insulation and re-plastering, electric shower in main bathroom, new flooring, redecorating.

North Wicklow area.

Average sum required?

Dtp1979

Sunrise_Sunset wrote: »

Terraced house of approximately 109 sq m. Needs a complete overhaul; kitchen, plumbing, windows, electrical, insulation and re-plastering, electric shower in main bathroom, new flooring, redecorating.

North Wicklow area.

Average sum required?

You won’t get much change out of 40k

Mad_maxx

Dtp1979 wrote: »

You won’t get much change out of 40k

Not a hope of doing it for that

Fixer upper needs to be 100k cheaper minimum

Sunrise_Sunset

Also, how easy/difficult is it to hire people to do the job these days? I was reading various articles saying the price of renovations has increased, and labourers are quoting inflated prices as a deterrent as they prefer taking on bigger jobs instead of domestic jobs. Any truth to this?

dudara

When we bought our house, we got a similar quote, including a small extension to rear. Quote was €110k, so excluding the extension would leave about €60-70k.

For the sake of comparison, ours is a semi-d in Dublin, built 1920s with ~80 m^2.

Roisin76

Pity it's a terraced house, otherwise you could just bulldozer and rebuild. Similar cost and you'll get a brand new A rated modern home!

Sunrise_Sunset

Roisin76 wrote: »

Pity it's a terraced house, otherwise you could just bulldozer and rebuild. Similar cost and you'll get a brand new A rated modern home!

That bad, eh?
Should I steer clear?
Could never afford a new A rated home.

Paul_Mc1988

Know any trades people that would give you a deal. Are you prepared to go with direct labour and manage yourself. Could save a lot going that route.

tommythecat

Sunrise_Sunset wrote: »

Terraced house of approximately 109 sq m. Needs a complete overhaul; kitchen, plumbing, windows, electrical, insulation and re-plastering, electric shower in main bathroom, new flooring, redecorating.

North Wicklow area.

Average sum required?

Really rough figures:
Kitchen 10k
Plumbing 7.5k
Windows 15k
Electrical 10k
Insulation etc 5k
New bathroom 5k
New floors 2-3k
Painting etc 600
Labour a few k

These are really really rough but it might give you an idea of what’s in front of you. If there are any issues found such as damp then who knows!

Cuddlesworth

Materials costs have shot up and are continuing to rise as England gets squeezed out of the supply chain, so costs from 2-3 years ago are not valid now.

Wabbit Ears

There are a few houses near me ( meath ) that are total fixer uppers which have asking prices similar and even above more modern turnkey properties. If you add a 100k to these properties they are just stupidly priced. Luckily none if them seem to be selling.

Remember with a complete fixer upper you have to live somewhere yourself while its happening.

And finally. Remember to multiply your costs by two and your timeframes by 4. So if you think itll cost 50k and 3 months realistically itll cost you 100k and a year. Source: personal experience.. others experience may differ.

Neon_Lights

A euro for some in rural Italy as long as you refurb in the next 3 years

Roisin76

Cuddlesworth wrote: »

Materials costs have shot up and are continuing to rise as England gets squeezed out of the supply chain, so costs from 2-3 years ago are not valid now.

One idea would be to buy the place, move in as is and wait for the current boom to die out. Building materials as well as labor costs are cyclical.
It depends whether you're prepared to wait indefinite number of years or if you want a nice house as soon as possible.

GreeBo

tommythecat wrote: »

Really rough figures:
Kitchen 10k
Plumbing 7.5k
Windows 15k
Electrical 10k
Insulation etc 5k
New bathroom 5k
New floors 2-3k
Painting etc 600
Labour a few k

These are really really rough but it might give you an idea of what’s in front of you. If there are any issues found such as damp then who knows!

10K is a lot for a kitchen, you can get it for cheaper than that, it all depends on what finish you want and are willing to pay for.

Get all the structural (wiring, plumbing, plastering, windows) work done and then pick 1 or 2 rooms that you are going to finish to a high standard.
For the rest of the rooms get them boarded and painted and come back to them in a few years when you have more cash.

Interested Observer

Dtp1979 wrote: »

You won’t get much change out of 40k

I've just moved into a place that doesn't need much work at all and based on our general expenses, bit of work we need done etc, this seems way way waaaay on the low side.

Mad_maxx

Sunrise_Sunset wrote: »

Also, how easy/difficult is it to hire people to do the job these days? I was reading various articles saying the price of renovations has increased, and labourers are quoting inflated prices as a deterrent as they prefer taking on bigger jobs instead of domestic jobs. Any truth to this?

Electricians are 400 per day right now, any dope who can hold a shovel is 200

Mad_maxx

tommythecat wrote: »

Really rough figures:
Kitchen 10k
Plumbing 7.5k
Windows 15k
Electrical 10k
Insulation etc 5k
New bathroom 5k
New floors 2-3k
Painting etc 600
Labour a few k

These are really really rough but it might give you an idea of what’s in front of you. If there are any issues found such as damp then who knows!

Even you painted the joint yourself, the paint would be 600, you need a 2500 budget for painting

PokeHerKing

Sunrise_Sunset wrote:

Terraced house of approximately 109 sq m. Needs a complete overhaul; kitchen, plumbing, windows, electrical, insulation and re-plastering, electric shower in main bathroom, new flooring, redecorating.

We did exactly this 5 years ago in dublin. Mates rates on a few of the trades and managed it ourselves .

It was 33k all in. The house has roughly doubled in value since, so I'd say double the cost of the work as well.

Mad_maxx

PokeHerKing wrote: »

We did exactly this 5 years ago in dublin. Mates rates on a few of the trades and managed it ourselves .

It was 33k all in. The house has roughly doubled in value since, so I'd say double the cost of the work as well.

Might as well be comparing to 1914

stiofan85

Did an end of terrace 1930s complete gutting, some structural work, windows, heating, wiring, insulation, plastering, bathroom, kitchen, new floors, and also a big cabin in the back garden. All told I reckon I put 70k into it. I did a lot myself except for the stuff that requires certs.

Don't do it. It'll break your heart, your wallet and your relationship. Imo, you can't get the value back.

jlm29

Sunrise_Sunset wrote: »

Also, how easy/difficult is it to hire people to do the job these days? I was reading various articles saying the price of renovations has increased, and labourers are quoting inflated prices as a deterrent as they prefer taking on bigger jobs instead of domestic jobs. Any truth to this?

A lot of truth. It would be quicker to do an apprenticeship than to wait for an electrician or plumber, unless you’re lucky enough to have a few tradespeople in your circle of family or friends

c.p.w.g.w

jlm29 wrote: »

A lot of truth. It would be quicker to do an apprenticeship than to wait for an electrician or plumber, unless you’re lucky enough to have a few tradespeople in your circle of family or friends

Tilers are just as bad too, have a friend doing the tiling for me. She's a retired tiler who works in another field now, but when she realised how difficult it was to get a tiler, so offered... thankfully

PokeHerKing

Mad_maxx wrote:

Might as well be comparing to 1914

I can't imagine it's much more than 66k to renovate a medium sized terraced house with no structural/extension work.

stiofan85

jlm29 wrote: »

A lot of truth. It would be quicker to do an apprenticeship than to wait for an electrician or plumber, unless you’re lucky enough to have a few tradespeople in your circle of family or friends

This adds so much cost. You struggle to get someone, wasting work time phoning around, then you take time off to get a quote, it's a hail Mary quote but you've no one to compare to and you're just happy to have someone do it.

Then they don't show up!

Sunrise_Sunset

After handing over a deposit, we won't have much left for renovations. The main things would need to be done first, and the smaller jobs over the years.
But the idea of a lower monthly mortgage repayment appeals to me, as the house is cheaper than other houses of the same size in the area.

Mad_maxx

PokeHerKing wrote: »

I can't imagine it's much more than 66k to renovate a medium sized terraced house with no structural/extension work.

Labour costs are about 75 % higher today for tradesmen than in 2014

mfceiling

Mad_maxx wrote: »

Electricians are 400 per day right now, any dope who can hold a shovel is 200

Can I get the name of this employer?
Qualified sparks on our job are on 26 an hour PAYE.
Labourers are on between 11 and 13 an hour.

ballyharpat

mfceiling wrote: »

Can I get the name of this employer?
Qualified sparks on our job are on 26 an hour PAYE.
Labourers are on between 11 and 13 an hour.

Here in Killarney, a decent sparky ears about e25 per hour, add to that, the cost of holidays etc, and then the company has to make a few quid to cover their costs, so youre looking at about e35 per hour, I'm guessing.

A labourer probably costs about e200+ per day, unless you hire them yourself, then you have to supervise them.

Do as much as you can yourself, and the only tradesmen you hire should definitely be people you can trust, and people that are good at what they do. I have seen and experienced sh*t tradesmen, that may charge less, but are so bad, that they do poor work and take so long that it cost away more.

PokeHerKing

Mad_maxx wrote:

Labour costs are about 75 % higher today for tradesmen than in 2014

Which is why I told the OP it would be roughly double what I paid.

Ray Palmer

OP how handy are you? Some of the work you are talking about is very easy to do but you will pay a lot to get it done. Kitchens are one of the biggest ripoffs in the trade. Essentially kitchen units are just flat packs you can do yourself. Hire a carpenter to hang the doors if you aren't handy and the counter top.
Modern plumbing is pretty easy now too and you could do a lot yourself.
Electricity is best avoided due to danger and difficulty.

Claw Hammer

Sunrise_Sunset wrote: »

After handing over a deposit, we won't have much left for renovations. The main things would need to be done first, and the smaller jobs over the years.
But the idea of a lower monthly mortgage repayment appeals to me, as the house is cheaper than other houses of the same size in the area.

If you are buying a fixer upper, but not fixing, the thing to do is to skimp on absolutely everything. Live with what is there for as long as you can, buy second-hand furniture at auctions and build up enough money to that you can do things properly. For example if you are rewiring, you should do the heating system as well so that you don't take up floorboards for one thing and then have to take them up again for another. One of the advantages of not doing anything straightaway is that you will see how your own lifestyle and requirements are best met. Some people buy a house and do a lot of work immediately only to find after they moved in that some of the work didn't suit them. I know other people who moved in, waited a few years and then did a comprehensive makeover.