I wanted to share a tip with you if you’re considering buying a Grade 2 Listed Building.
Now this applies whether you’re looking to buy the property to let it out or live in it yourself so I wanted to give you my advice to avoid any nasty surprises.
There are a number of preconceptions about buying a property like this; it’ll be old, you’ll be limited with what you can do with it etc, so this is why it’s fundamental to get everything checked out properly before you go ahead with the purchase.
GET A FULL STRUCTURAL SURVEY
If it’s Grade 2, then yes, it’s old. So why wouldn’t you want to go through the place with a fine-toothed comb to check it out?
Now a full structural survey will cost you between £500-£700 and is absolutely worth the investment to make sure that you know exactly what is going on with the property. You need to know what defects they might be before you buy it and these are things that will not always be noticeable at the viewing.
Get a local chartered survey to check the property out and provide you with a full report.
GET A LOCAL SOLICTOR
This isn’t the time for a local vs. national debate but I wanted to make this point because when you’re going through a complex purchase, you need to have a conveyancer that’s accessible and available to answer any queries you or the selling party have.
TAKE A LOCAL BUILDER WITH YOU
If you don’t know of a local builder then let me know – I know plenty. But this is SO important.
Yes, you’re going to get a structural survey – that’ll advise and inform you on the current condition of the property. A builder will be able to advise you on what to look out for in the future as well as giving you an idea of costs – they’ll be able to give you a different perspective on things; what repairs, maintenance, ongoing issues that a property may have, from an improvement perspective, a maintenance perspective, repairing, and all of those things, and the builder will be able to tell you look, I advise that you get this wall sorted or you take care of that, this building is going to be susceptible to this and might have that problem dampened timber in the future
So then once you’ve got your full structural survey, you’ve got your complete and clear outline of all the restrictions and legalities with the Grade 2 listing. And that way you’ve got a personal advisor in the builder telling you to watch out for this, this will need work, this will be something that will keep happening, this is a risk in the future, that’s when you can settle into that property, whether you’re living in it or renting it out, or doing it up or flipping it, that’s when you know you’ve got a good property.
Don’t avoid Grade 2 listing buildings, they’re fantastic and sometimes because of all the restrictions that there may be on a property, you can pick up really good bargains, because they’re difficult to sell unless you’re selling them in the right way. So, I hope that helps, look if you know anybody that’s trying to buy a Grade 2 listing building or you’re looking at one yourself, then let me know, give us a message.