owelly
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| posted on 19/8/09 at 01:41 PM |
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Anyone want to buy a new lifestyle with two houses??
Here's the thing:
last year I decided to convert my thre storey garage into a house. The plan was to sell the current house and the newly converted property and buy a
little farm. We asked around and had a lot of interest but the majority of folks we spoke to thought that the garage would make a good studio,
workshop or whatever as an alternative to converting it into a two/three bedroom house. So we stripped the building, put a new concrete floor in, a
blockwall inside, a new 1st floor, new staircase, an kitchen sized extension and plopped a complete new roof on. Just as we putting the ridge stones
on, the housing market shat itself.....
The value before the £20k worth of work was £300k with an afterwork estimate of £350-£370k!!
We put the properties on the market earlier this year at £310k. This was for our current three bedroomed house and the renovated shell of the
conversion with all permissions to finish as a two/three bedroomed house, workshop, studio, pair of flats, whatever.....
We havn't had a single enquirey. Not even a nosey neighbour!!
We sold a holiday cottage last year and as a two bedroomed cottage, it averaged £290 a week throughout the year. If the converted garage was completed
as a two bed holiday let (my builder has quoted £15-20k for a turnkey finished job depending on spec), then surely this would cover the cost of a
mortgage to buy both houses!!
So if anyone wants to move to the seaside, collect cash from the guests on a Saturday morning and spend the rest of the week on the pub next door
knowing that the mortgage is paid for, get in touch!!!
Then I can look for a house with a garage.....
http://www.ppcmag.co.uk
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Dangle_kt
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| posted on 19/8/09 at 06:39 PM |
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I feel your pain, although we are not sat on £300k worth of prime property, we are trying to sell, and have been since Nov.
Not a single viewing, or enquiry.
We have priced cheap and the house is lovely - in admittedly not a great area - but good for the postcode if that makes sense.
And we are a "first time buyer/2nd family home" 3 bed semi with garage - nothing fancy.
I just think the market is dead.
Although the first house in our road sold last week! Admittedly it went for peanuts, but it shows signs that people are dipping their toe back into
the idea of buying...
Sit tight, and enjoy the sea air - I reakon (based on nothing more than good old guess work) that by Spring, houses will start moving, and once that
happens then chains can build up that lead to expensive properties like yours.
It sounds ace btw any photos? cheeky - but if a nosey neighbour hasn't poked around - the least you can do is let us have a virtual tour - with
no oily finger prints gaurenteed 
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owelly
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| posted on 19/8/09 at 07:54 PM |
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I'll get some piccies up at the weekend.
Strangely enough, £300k isn't much for around here! There are very few 3 bed properties in the village for under £290k. It's one of those
holiday/retirement/move to the country places that was the last to be hit by the downturn in property sales and even then, the prices didn't
seem to drop!
I want to be off as I'm currently renting a barn for my toys at £200 a month now I have no garage!!
http://www.ppcmag.co.uk
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RK
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| posted on 20/8/09 at 02:19 PM |
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Sit tight and don't worry about it. I have been looking on the West Coast of Canada (my homeland, as it were), and it looked dead for most of
the winter, and now the places disappear in a day. The economy in general is not growing there either. So you never know.
Looks like I should think of buying over in the UK as an investment, if nothing else!
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Guinness
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| posted on 21/8/09 at 09:30 PM |
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Owelly
it's very tempting, but i think you are on a hiding to nothing advertising a house with no garage on here!
I'd be interested, but I'd end up having to pay for a barn to keep my toys in too!
Mike
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owelly
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| posted on 24/8/09 at 11:16 AM |
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The garage would easily convert back to a garage and flat!! I made sure of that just in case!!
http://www.ppcmag.co.uk
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