nod Posted May 23, 2020 Share Posted May 23, 2020 Pictured is a beautiful barn conversion that we framed and plastered 5000 sq foot being sold as is Internal finishing although very expensive German kitchen fitted Groundwork’s also to finish Very sad Link to comment Share on other sites More sharing options...
ProDave Posted May 23, 2020 Share Posted May 23, 2020 Very sad because I doubt he will get his money back. It will probably be a bargain project for someone. Link to comment Share on other sites More sharing options...
nod Posted May 23, 2020 Author Share Posted May 23, 2020 It’s a magnificent plot great views 1.5 acres Expensive area The barn cost them 475 Lovely couple They settle my invoice at the end of the month Pretty typical of self builders Think they had a a pool filter business Heart breaking Link to comment Share on other sites More sharing options...
Russell griffiths Posted May 23, 2020 Share Posted May 23, 2020 There you go @nod next project Link to comment Share on other sites More sharing options...
nod Posted May 23, 2020 Author Share Posted May 23, 2020 8 minutes ago, Russell griffiths said: There you go @nod next project We are very tempted Link to comment Share on other sites More sharing options...
Russell griffiths Posted May 23, 2020 Share Posted May 23, 2020 Keep you out of mischief for a while. Link to comment Share on other sites More sharing options...
nod Posted May 23, 2020 Author Share Posted May 23, 2020 4 hours ago, Russell griffiths said: Keep you out of mischief for a while. Exactly Eagan my wife said Though our build is to big for us This one has a 57 x 27 ft kitchen diner Not sure what that is in real Money My son and I skimmed the ceiling in one hit Link to comment Share on other sites More sharing options...
ProDave Posted May 23, 2020 Share Posted May 23, 2020 50 minutes ago, nod said: This one has a 57 x 27 ft kitchen diner Not sure what that is in real Money That's bigger than my entire house. Link to comment Share on other sites More sharing options...
nod Posted May 23, 2020 Author Share Posted May 23, 2020 58 minutes ago, ProDave said: That's bigger than my entire house. Yeah spent a fortune on design Kitchen came in around 50k As the title says You really do need to know your budget Architects are great at saying your kitchen should be a certain percentage of your entire budget Easy to get swept along No one could product what is happening now Link to comment Share on other sites More sharing options...
Oz07 Posted May 24, 2020 Share Posted May 24, 2020 How many bags was that set @nod Link to comment Share on other sites More sharing options...
ProDave Posted May 24, 2020 Share Posted May 24, 2020 I wired a very large house some years ago, It was only 4 bedrooms but massive. Each of the 4 bedrooms was huge a bed looked lost in the massive rooms, and each had a 12ft square en-suite, bigger than most people's bedrooms. Some people do know how to waste money, but such a shame for a project to end like that. In the last recession there was one like that up here, which sadly got abandoned before the roof was finished so it then sat abandoned for years before it got taken over and completed. When out for one of our walks early on in the shut down we passed a now dormant plot. They had dug the foundation trenches but not even got as far as pouring the concrete. Link to comment Share on other sites More sharing options...
recoveringbuilder Posted May 24, 2020 Share Posted May 24, 2020 A fortnight before lockdown we had a viewer to our plot we are selling, we agreed a price and the offer came in a few days later, unfortunately lockdown happened and the buyer was put on furlough, he made moves contacting an architect and so forth however last week he withdrew his offer sighting the fact he didn’t know how long it would be before he got back to work and the fact that he’d have to sell his current property to build the new one. I phoned the estate agent to put him in the picture and said I quite understood the situation, why would you spend your savings on a plot when your income was uncertain and you don’t know how long your house is going to take to sell. The agent would have none of it , he said he was of the opinion that there would be a great hunger for houses after this was all over, really can’t see it myself due to the fact there will be a lot of people who don’t get back to their employment due to some places never reopening. Link to comment Share on other sites More sharing options...
CC45 Posted May 24, 2020 Share Posted May 24, 2020 There seems to be a degree of urgency around us to get properties on the market - I know of 2 being advertised that have no internals at all, no windows etc. Several rumours of redundancies at building companies.... Seems as if every 10 years or so there's a shock for the economy. There must be a limit of how much cheap (free or subsidised if you actually take inflation into account) cash the government can print and give away. Pumping more adrenaline into a patient only works for so long before the inevitable conclusion. Link to comment Share on other sites More sharing options...
ProDave Posted May 24, 2020 Share Posted May 24, 2020 Sadly for us, just before the virus arrived, the property market in Scotland was starting to boom. with a return of properties going to a closing date, something that has hardly happened at all since 2008. I do hope that pent up demand is still there after this is all over. It took 12 or more years for the property market to get over the last recession, I really can't wait that long if the property market crashes here again. 1 Link to comment Share on other sites More sharing options...
eandg Posted May 24, 2020 Share Posted May 24, 2020 1 minute ago, ProDave said: Sadly for us, just before the virus arrived, the property market in Scotland was starting to boom. with a return of properties going to a closing date, something that has hardly happened at all since 2008. I do hope that pent up demand is still there after this is all over. It took 12 or more years for the property market to get over the last recession, I really can't wait that long if the property market crashes here again. I don't know a lot about the north of Scotland but the rest of the market is very localised in Scotland - the south and most of the west has struggled to recover (with the exception of your Easts - Dunbartonshire and Renfrewshire) to peak activity and prices while the east (Edinburgh through to Fife and Perthshire) has recovered and then some. Aberdeen is a market of its own given how it tracks the boom and bust of the oil industry. Long term that trend looks set to contribute with population growth almost exclusively in the east and decline in large parts of the west (except for Glasgow). Given Covid (and Brexit, remember that?) I would definitely think twice before spending lots of money on a house in peripheral locations. Link to comment Share on other sites More sharing options...
SuperJohnG Posted May 24, 2020 Share Posted May 24, 2020 (edited) 2 hours ago, ProDave said: Sadly for us, just before the virus arrived, the property market in Scotland was starting to boom. with a return of properties going to a closing date, something that has hardly happened at all since 2008. I do hope that pent up demand is still there after this is all over. It took 12 or more years for the property market to get over the last recession, I really can't wait that long if the property market crashes here again. @ProDave. @eandg Its probably my fault. Everytime I seem to move or buy a house there is a major financial speed bump. I bought my first property in Oct 2007. Bargain deal at only 10% over the asking price. Moved in...market crashed and we were there until 2014. It has never came back to the value we paid and unlikely ever will for some time. We should have sold it on 2 years later for 10-15% profit all going well, like all my friends who are slightly older. They have all seen the good days where lots of money was to be made. We had to move in 2014 ( first child came along) so couldn't sell it so have rented it out. I did get the upside slightly on a 3 bed detached house as the market was still down and the oil price was crashing. Still here just now...however just completed purchase in my plot. I had planned to start building in in August then sell in spring. But we will see. I'm hoping that it doesn't go to a full blown recession as I cant be bothered with it. My hope is we get moving again...I get the benefit of a slow market during the build with cheaper labour or reduced prices from kit and window suppliers and then next spring it rockets off again and we continue moving and I sell for a good price. But yeah the housing market here in Scotland is just a PITA. I feel I missed any boom by about 3 years, had I been born in 78 vs 82 I would have been seeing 40% returns in 3 years like some of friends. I'm in the west just south of Glasgow. Edited May 24, 2020 by SuperJohnG Added info Link to comment Share on other sites More sharing options...
ProDave Posted May 24, 2020 Share Posted May 24, 2020 You can't pick it worse than me. Sold first house in 1989 a couple of years after the crash. First attempt it sat on the market for a year with no interest. Tried again a year later and it sold in a slow market, eventually. Sold second house in 2003. Put the house on the market. 2 weeks later the gulf war started and the housing market stopped. That took nearly a year to sell. and the first buyer withdrew a week before exchange. Sold buy to let flat in 2013, the market was virtually dead still from the 2008 crash. it took 3 years to sell that. If it had gone on the markey in 2007 people would have been falling over themselves to buy iy and it would have gone to a closing date. Tried to sell old house in 2014 to find the market still dead, Unsold after 3 years we let it to a tenant who still say they want to buy it, but CV19 has buggered that for the time being, Oh how I would love to put a house on the market in a boom time and have people queuing to view it and out bidding each other. when our old house is eventually sold, I never ever ever want to be in the position of owning anything other than the house I live in. There is too much stress and uncertainty. 1 Link to comment Share on other sites More sharing options...
daiking Posted May 24, 2020 Share Posted May 24, 2020 29 minutes ago, ProDave said: You can't pick it worse than me. Says paper millionaire ? (2 properties outright + personal pension + state pension) I will gladly correct and apologise if that’s wrong. Sometimes its good for all of us to turn down our inner “woe is me“. Because if that’s the worst choices you could have made, well, talk about the problems of being in the 1%. 2 Link to comment Share on other sites More sharing options...
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