₦airaland Forum

First finish and varnish and walahi I am knackered

Self renovation begins. The house needs dragging into the 21st century.

It was last renovated in 1974! Every single room is carpeted including bathrooms and toilets 🤢🤢

We thoroughly vacuumed the house and I started with the upstairs toilet. Husbot stayed away as he's asthmatic. The underlay all crumbled to dust once moved.

Jamesclooney:
Testimony time

(Ushers please be on standby with the offering basket )

The Lord built (bought) us a house!!!!

Signed, sealed and delivered. The bunch of keys dey our hand now. Very heavy lol.

Ps - send funds because everywhere don dry. Surviving on tap water till further notice.

Congratulations 🎊 👏 💐
We go send offering after elections 🤣

https://www.civilservicejobs.service.gov.uk/csr/jobs.cgi?jcode=1914436&csource=csalerts

Be an expat in Nigeria and work for the British government. Citizenship rules apply.

Trendytessy:
Hi guys, anyone living or knows about life in Worcester, Worcestershire? Jobs, cost of living, family lifestyle,social and recreation life.

Looking to move there but need insights before concluding. Any help is appreciated.

I lived in Worcester for almost 10 years. It used to be a small backwater city. It's cheap university and proximity to Birmingham has seen it balloon in population. It's still a relatively quiet and lovely city. Everything still shuts down between after 7pm so nothing has changed in that respect!
It also has a mainline station. There are lots of Nigerians there and I hear they have a Nigerian association as well.
Schools are good if you have children too.
Cost of living is same as everywhere else - I was shocked looking at rentals. I should have bought a house there! Can't speak for jobs but when I lived there, I worked in Birmingham and commuted so you have access to the 2nd largest city in the UK

Stenvee:
Please, how do I remove stains on the wall without removing the paint?

Magic eraser sponge. Was a life saver when I had tiny humans imprinting themselves all over my walls

https://www.amazon.co.uk/Cleaning-Scratch-Sponges-Polishing-Chemical/dp/B0BPQV394N/ref=asc_df_B0BPQV394N/?tag=googshopuk-21&linkCode=df0&hvadid=697227683034&hvpos=&hvnetw=g&hvrand=1755164181462227209&hvpone=&hvptwo=&hvqmt=&hvdev=m&hvdvcmdl=&hvlocint=&hvlocphy=1006838&hvtargid=pla-1945651691723&psc=1&mcid=286aa17a2fde380c861d237b646bd93e&gad_source=1

teeebest:
Thank you as always Ticha. No kurukere o. We got 85% LTV with Barclays but we can only afford 10% deposit hence the reason for resorting to a broker. We are 2 years 4 months in the country and we are on work visa.

Ah shame as you're almost there! Definitely go for another broker. Check that your current one is a free one otherwise she'll charge you for her services.
If she's not free, raise a complaint and ask for another broker from their team - even if she's self employed, she'll be affiliated to a financial organisation that manages a group of brokers.

ukay2:
Madam Ticha...you don sabi all the naija slangs...

9ja for life o! 🤣🤣

teeebest:
Is it okay to cut ties with this mortgage broker and start afresh with another company please? Thanks as always.

That's shocking behaviour from the broker. Absolutely go with another broker.
PS - why do you need a broker? Unless there are some kurukere movements in your credit and personal history, you can go directly to your bank (if a mainstream bank)

justwise:
Good morning people, what did i miss?

Welcome back boss!

DadR:
Greetings,

Please, for someone with no much deposit but wants to get on the property ladder rather than renting, is getting a mortgage through shared ownership (like 25% - 30%) worth considering?

What are the major cons and can someone opt out after paying off the % ownership and use that as a deposit for an another freehold property?

Thanks

@ticha, baba lexus!

My biggest issues with shared ownership
1. You will pay market rate rent on the portion you don't own and this increases annually or as detailed in the agreement (usually in line with CPI)
2. You will not benefit from any rise in capital value from the share you don't own
4. When you staircase, ie buy more of the builders share, you will have to pay costs including a valuation fee and the solicitors fee for the builder.
5. Any extra you buy will be at market rate valuation.

Do the calculations and see if it works out for you. Remember the max you can buy initially is 75% and majority of developers seem to cap it at 50% initially anyway. So whichever way, you will still be paying some rent

profemebee:
and it seems there is a maximum amount or % one can pay per year for the overpayments (varies for each provider)?

Usually 10% of the balance per year of the mortgage. Anything over that is likely to trigger an early repayment charge.

Santa2:
We got incentives from Red Row, They did all the floorings (Amtico for multiroom and Livingroom), Upgraded the kitchen appliances and countertop, wifey drove a hard bargain with them, she wanted £3000 towards solicitors funds but they pegged it at £1,500.

Awesome bargaining! Congratulations again and more grease to your elbow! Here's to the next purchase!

Santa2:
Completed on Friday, I don collect Key.

Congratulations 🎊 👏 💐 🥳

Oya come wash am for us by giving some more details to help others - if you would like to ni o

How did you choose the property? What were some of the things you considered?
How many viewings did you do?
Did you use a broker?

obitryce:
Hi Everyone,

I've been a silent member of this thread, observing and learning about acquiring a property in the UK. The knowledge gained here helped me in acquiring my 3-Bed (Old Build) Semi-detached property in April this year, all thanks to the likes of Ticha, Lexusgs430 etc. I 'm currently in need of a builder in Liverpool area, as I intend to convert an empty space downstairs into a toilet and would appreciate any useful information or contact.

Thanks..

Congratulations 🎊
Builders tend to be very localised. Plus what you need is a plumber rather than a builder. It might worth asking neighbours, colleagues and checking the sign boards at supermarkets - small time tradesmen advertise there as well.
Or it's a perfectly apt time to go on youtube or do a quick course at your local college and do it yourself. You will need handy man skills as you go along.

heroshark:
I still do not understand the rationale behind people preferring old houses. From my professional experience working as a consultant in the built environment, new build properties offer far more benefits compared to old houses in terms of thermal comfort and energy efficiency. They require less energy to heat and are always built to the current Building Regulation AD L, which is by far the highest standard for energy efficiency in buildings.

Old houses are generally less energy efficient and not well-suited for heat pumps unless you change the entire heating system and heat emitters. Connecting to district heat networks is also a challenge.

The UK is planning to transition to a net zero economy, and buildings are a huge focus in this. Retrofitting and upgrading the building fabric of old houses is just too expensive, and yet you still will not get the same level of airtightness.

PS: This is purely from a professional view; I don't know what people's personal experiences living in these houses are.

I absolutely hate heat pumps. Stopped using ours in NZ and added a heat transfer system utilising the open fire.

I love my old houses. If only I could afford a centre of town Georgian house! Unfortunately I need to win the lottery for that so will keep dreaming of owning one.
PS - our houses have never not been warm. Heck I brought home two premmie babies (33 weeks) to one of such houses and they're now almost 9 year old rambunctious girls. Our windows are always slightly open even in the winter because our house gets warm.
Anyway, all to say everyone has their ideal. For me, anything older than 90 years is where I'm at!

Viruses:
Thank you for this suggestion. The risks you highlighted are my worries also.

Any opinions on the other two ideas (overpay current mortgage or save for BTL instead)?

You should always over pay on your home mortgage anyway even if it is £50 a month. Just ensure you don't pay over the allowable over payment.

BTL - that's where the JV suggestion comes in. To raise a deposit and needed funds for an £80k purchase, you'd be looking at a minimum of £30k of your own funds to get off the ground so a JV then means you start off with half and build on to grow your portfolio faster.
You'll also need to start in a company structure unless you know you won't ever earn upto £50k pa. All rents received is classed as income so will bump up your income tax and put you in a higher tax band which means you'll end up paying tax on money you haven't earned.

Santa2:
Merci Beaucoup

Congrats! Go and sin no more!

Viruses:
Opinions needed

Which is a better approach to financial freedom

1) Paying excess mortgage with 'spare' money to reduce the mortgage tenure
2) Save the 'spare' money instead and buy a BTL property

Also are there any other ideas to use 'spare' money for in the housing sector apart from the two mentioned above?

You could look in JVs (joint ventures) but choose your partner with absolute care and do the utmost due diligence including financial, moral and ethics cos the property world is full of scammers.

alongetayo:
Thanks a lot for this. Already on the search for a nice old build Abeg

Have a check list and go from there. After the first few viewings, you'll get a feel for what you like or not. Post some and we can sign post you on things to check for.
I responded to your email so check your spam.

alongetayo:
One more question bro.
Please will the renovation costs be part of the mortgage? Or that would have to be coughed out separately? If we’re going for an old build.

It's not part of the mortgage o. You could potentially get a loan but it'll be extra costs that can make or mar the enjoyment of the property. You'll have to fund it from your pocket. Not all 'old' houses need renovation.

You can buy a fully renovated Georgian house (200 years old at least) and not need to lift a finger apart from move in. Same as a Mock Tudor or Victorian (100 to 150 years old) to Art Deco (1920s/1930s).

It's just that for some of us, the thrill of the buy includes putting our own stamp on it.

shaybebaby:
You know it!

I'd be like the naija version of Kevin Mccleod and be saying stuff like

" Oga Ticha bought this house with a dream of transforming to a home and business..12 months down the line..its is not just a home, it is a homage to the landscape, blending architectural boldness yet nestling in one of the most phenomenal views..."

Whilst the camera pans to an arial shot of the house😆

🤣🤣🤣 this is awesome! Hopefully I also won't fall pregnant cos Chief Kevin seems to impart belle wherever he goes! I don hang up my boots!

Santa2:
Woow..this sounds interesting. What I would give to be a fly on the wall through this reno. Ticha na egbon you be.

Aww you're very kind! It's pur biggest reno to date. I'm very excited with a thin layer of trepidation! Happy to post photos and videos and progress reports once we're underway.

shaybebaby:
E far small 😭 if not! Anyways my search continues.

For the words of encourage, I demand NL discount on the holiday let once its done.

Borrofcos! Discount for you and other Nairalanders. I shall post it up once all done!

shaybebaby:
Lucky you, do it once and move on. But that means you must be having major works ( extension or loft conversion) done if we are softly buttering up the council

I'm in Essex..tell me you are somewhat in the same axis please.

Aya I'm just outside Leicester so nowhere close! Builder is in the North West. He usually just moves on site with his team until the work is finished and then moves on. Hence preferring full renos.

We're demolishing part of the house (the sun room), putting on a wrap around double storey extension, plus an outdoor brick built gazebo and converting the stables to 2 holiday lodges so full planning application plus neighbours consent and drawings are needed.
I don go butter the neighbour sef and they also want a holiday let in their back garden 😅. Competition don start even before we break ground.

shaybebaby:
But...pssst...whisper in my ear.. do you have a legion of reputable and reasonably priced trades people you know?

Hehe I have 2 reputable and well priced tradesmen. The problem is they will only take on a full reno as that makes it worth their while. Where are you based?

As this is our forever home in the UK, we've estimated a whole 12 months for the renovations. Before buying the house, I don go pally with the planning officers at the council sotay we have found out we have a mutual friend so smoothing my path before we start.

shaybebaby:
Shockingly so.

Over running costs always catch out first time renovators or peope new to renovations.
Plus people also under estimate the time it takes, always want to move out for the renovations (extra cost) and refuse to compromise where it's needed. I'm onto my 6th one. 2nd one thst is a family home. All our rentald are doer - uppers. I'd never pay for or buy another person's design choices. My shock absorbers are now solid.

babythug:
I’d never understand how or why you can find a nice 2 or 3 (maybe more) bed house in this UK with just ONE bathroom and toilet. Beats me honestly *rant over shuts door quietly *

Toilets used to be outside. They were a later addition to inside the house. Coupled with the fact that most people here seem to prefer to shower once or twice a week and also have smaller families plus won't usually have people visiting or staying over, you can see why they're OK with just the 1 bathroom/ toilet.

Conversely, I've seen new builds with 3 bedrooms and 4 bathrooms. Why?!!!

alongetayo:
Whao. Congrats.
Can I message you please?

Yep go ahead!

fatima04:
Na so we too discovered during research. All we hear is there is money down under but what is underneath the money we dont know. Its even the 10yrs by force that one has to live in the regional areas. Some of them can be very very rural and rough oo (check out alice springs on youtube 😄).

Emigrating is costly and largely favours the government. Make we enjoy UK first before japa 2.0 is activated

Walahi Alice Springs was exactly like Otupko! Plus the Aboriginals are treated so so poorly that sometimes we (dudu people) also get mistaken for them and treated shabbily as well.

Uluru was awesome sha. We hired a camper van from Alice Springs and drove there and back.

Even Melbourne and Brisbane have huge swathes of run down areas that you won't want to find yourself in at any time.

I went to Ipswich just outside Brisbane and wanted to run home and have a shower 😅. I just couldn't shake the feeling of a lack of personal safety.

fatima04:
Even this US sef, I dont trust the data joor. I know people say high salary, low taxes etc. but it also depends on the sector and you can be laid off with nothing to fall back on.
Just the other day, i googled and saw that min wage in houston was 7.52 dollar/hr, my friend there said it doesnt matter jare but then whats is the metric for measuring the living standrad if we dont start with min wage. I now get why tipping culture is a big thing, because how person wan take survive on that.

Also same houston or texas generally have cheaper houses but high property tax that run through the tenure of your mortgage

Husbot was offered a transfer to
Washington DC August last year. His offered wage was very good. I would have had to start at $65k as a secondary school teacher! Even the non teaching but education roles were around $55k to $70k.
Taxes weren't lower over all because we'd pay federal and state taxes then tax on groceries as well. Then you pay property taxes every year which is $0.85 per $100. Majority of houses in nice areas and walking or biking distance of schools are around the $900k mark. Omo, we just carry ourselves come back joor 😅🤣

shaybebaby:
Hope you have enough money for the renovation or time to diy it yourself.

Older houses, though lovely and generally have more land, need a lot more tlc.

Not usually a problem but tradesmen, if they even bother to show up, have being daylight robbers. Materials cost too is

Signed

Someone who naively underestimated the cost.

I'm very excited and looking forward to if sef.