Anyone want a Wendy House?

[Paddy]

If you are a house owner, you might notice on your insurance documents that the rebuild cost of your house is a smallish fraction of what you paid for it. That's from the ground up..

So it must be the land that holds the value, right?
Nope.

Look at what the same size plot costs right beside you without any hope of planning permission. Almost nothing.

So it's neither the house nor the land that costs, it's planning permission that you pay for. An amazing situation IMO.

I would guess it's un-insurable.

[Dorkeaux]

If you are a house owner, you might notice on your insurance documents that the rebuild cost of your house is a smallish fraction of what you paid for it. That's from the ground up..

So it must be the land that holds the value, right?
Nope.

Look at what the same size plot costs right beside you without any hope of planning permission. Almost nothing.

So it's neither the house nor the land that costs, it's planning permission that you pay for. An amazing situation IMO.

[woody1]

It was reduced on 29/7. Wonder what from?

According to sale history, it sold for £820k in 2019. That's only a 20% increase in 6 years. Perhaps it's under-priced.

Even if it were to fall or burn down, you could probably still get silly money just for the building plot.

[NotAllThere]

At 93 sq m, it's probably bigger than quite a few 3-bed semis.

[Dorkeaux]

No its in the rough as f part of London.

If it was in the London banana would be worth over a million due to the land.

Ah, I now see it's in Stokey.

I confess, I love Stoke Newington. Never lived anywhere near, but all the members of my musical ensemble do so I'm there quite a bit.
They tell me it used to be very deprived with poor public services. They used to call it "Bloke Newington" due to the heavy gender imbalance.

It's very bohemian, and getting gentrified now. I met a bloke in a pub who bought a house with his wife there 30 years ago. They now rent it out and live in Sheffield on the proceeds as their sole income.

[SueEllen]

Nothing intrinsically wrong with stick framing, or "timber framing" as it is mistakenly called here.
But that's really bad. Is that an internal handrail tacked together with raw 2x4s? Tulip.
Batten siding with no overhang to protect it, poorly stained.

But is it in the sacred "London Banana"? Then it's easily worth a million squid.

No its in the rough as f part of London.

If it was in the London banana would be worth over a million due to the land.

[Dorkeaux]

Nothing intrinsically wrong with stick framing, or "timber framing" as it is mistakenly called here.
But that's really bad. Is that an internal handrail tacked together with raw 2x4s? Tulip.
Batten siding with no overhang to protect it, poorly stained.

But is it in the sacred "London Banana"? Then it's easily worth a million squid.

[SueEllen]

You beat me to it. Looks like a large version of my shed.

I think sleeping in your shed would be safer.

Least likely to fall down in strong winds or be set alight.

[xoggoth]

It has as much structural integrity as a B&Q garden shed.

You beat me to it. Looks like a large version of my shed.

[ladymuck]

It has as much structural interrogatory as a B&Q garden shed.

[Paddy]

It has as much structural integrity as a B&Q garden shed.

[SueEllen]

Yours for nearly a million squid.

https://www.mylondon.news/news/east-...wendy-32406402



And the house -
https://www.rightmove.co.uk/properti...hannel=RES_BUY