[Cherie]

https://www.msn.com/en-gb/money/home...cid=spartandhp


A couple who bought a dilapidated Liverpool house for £1 a year ago have proudly displayed the stunning transformation it has gone through.
Sam and Rachael Kamau’s property in Webster Road, Wavertree had “a waterfall coming down the staircase” and a “bathroom with no floor” when it was handed to them by the city council as part of the Homes for a Pound Plus scheme

Love stories like this!


Would you take on one of these homes?

[Cal.]

Love it!

[Wizard.]

I would've done a better job

[DemolitionRed]

That is amazing. Shame they don't do this in London

[Eddie.]

love that they rent homes for that price...really helps families get a home when they have a lack of money in their bank accounts...

[smudgie]

Originally Posted by Cherie

https://www.msn.com/en-gb/money/home...cid=spartandhp


A couple who bought a dilapidated Liverpool house for £1 a year ago have proudly displayed the stunning transformation it has gone through.
Sam and Rachael Kamau’s property in Webster Road, Wavertree had “a waterfall coming down the staircase” and a “bathroom with no floor” when it was handed to them by the city council as part of the Homes for a Pound Plus scheme

Love stories like this!


Would you take on one of these homes?

Fantastic idea.
I have read about these schemes before, shame it isn't more widespread.

[LeatherTrumpet]

How much did they spend on it?

[Brillopad]

Originally Posted by LeatherTrumpet

How much did they spend on it?

You can’t help but wonder if they had the money to do the extensive work needed they they could have afforded a mortgage via the normal route. They got a house on the cheap.

I wonder what the eligibility for being sold such cheap houses ie - the land alone would be worth in the tens of thousands.

[Kazanne]

There are some of these in Stoke on Trent, if you have the money to refurbish it,it's a good idea,but it still doesn't help poor people as they wouldn't have the money to do it up.

[bitontheslide]

its a good idea, it increases the pool of habitable housing, without laying that burden on the councils, but it does take either a lot of knowledge to do the refurb, or knowing good builders who can do it. After the 5 years its possible to sell them and make a profit, but you really need to know what you are doing for it to be cost effective

[Wizard.]

Originally Posted by Kazanne

There are some of these in Stoke on Trent, if you have the money to refurbish it,it's a good idea,but it still doesn't help poor people as they wouldn't have the money to do it up.

Getting a loan of 30/40k is surely easier than a mortgage of 150k+?

[bitontheslide]

Originally Posted by Riley.

Getting a loan of 30/40k is surely easier than a mortgage of 150k+?

it will likely be a much shorter loan term with higher interests rates, so, not necessarily.

[Brillopad]

Originally Posted by Kazanne

There are some of these in Stoke on Trent, if you have the money to refurbish it,it's a good idea,but it still doesn't help poor people as they wouldn't have the money to do it up.

When you hear all the fuss on here about tenants buying their council houses for a hell of a lot more than a pound and the associated criticism of the Tories it sounds very hypocritical if the same people approve of this.

[Brillopad]

Originally Posted by Riley.

Getting a loan of 30/40k is surely easier than a mortgage of 150k+?

Why do people get a their knickers in a twist about council tenants buying their houses then - the council could do it up and replenish their hosing stock - cheaper than selling it for a pound, especially to people who have the money to do it up and therefore have other options. How does that help the housing crisis for council tenants.

[DemolitionRed]

Originally Posted by Brillopad

You can’t help but wonder if they had the money to do the extensive work needed they they could have afforded a mortgage via the normal route. They got a house on the cheap.

I wonder what the eligibility for being sold such cheap houses ie - the land alone would be worth in the tens of thousands.

I remember them doing a similar thing in Lancashire. People were only allowed to purchase those houses for next to nothing if they could prove they had the money or the resources to do them up and they also had to prove they were doing them up to reside in them and not make a tidy profit by renting them out.

[DemolitionRed]

Originally Posted by Brillopad

When you hear all the fuss on here about tenants buying their council houses for a hell of a lot more than a pound and the associated criticism of the Tories it sounds very hypocritical if the same people approve of this.

The problem with council house buying is, new ones don't get re-built. I'm not against anyone buying their council house for a knockdown price but I question where the new build of council houses are. Council houses were specifically built for working class people who couldn't get on the housing ladder. If there are no new council houses being built to compensate for the ones being sold, where do the working class people who can't afford to get on the housing ladder go?

[Cherie]

Originally Posted by LeatherTrumpet

How much did they spend on it?

10s of thousands so the article says, I would hazard a guess at 60,000, they probably split the short term loan between them and now the house is revamped they can get a mortgage on it and pay off the loand

[arista]

Originally Posted by Cherie

https://www.msn.com/en-gb/money/home...cid=spartandhp


A couple who bought a dilapidated Liverpool house for £1 a year ago have proudly displayed the stunning transformation it has gone through.
Sam and Rachael Kamau’s property in Webster Road, Wavertree had “a waterfall coming down the staircase” and a “bathroom with no floor” when it was handed to them by the city council as part of the Homes for a Pound Plus scheme

Love stories like this!


Would you take on one of these homes?

Yes I would buy a row
Fast , back then
this is proof Cherie



When they were sale at one pound
it went Live on UK TV news UK Radio news, that day .

[Kizzy]

I loved this concept and remember the threads on it at the time, they should definitely have kept on with this strategy imo.

[Cherie]

Originally Posted by Kizzy

I loved this concept and remember the threads on it at the time, they should definitely have kept on with this strategy imo.

They haven't stopped

“I’m delighted we’ve got lots more properties lined up for other families and we won’t be stopping there. Next month we’ll be launching a new housing company because we’ve got thousands of properties which can be brought back to life and we’re doing that because the demand is there. People want to get on the housing ladder and Liverpool is still regenerating, still growing and very much an attractive place to work and live.

[Toy Soldier]

If the structure itself is sound and you can do the bulk of the work yourself / with friends then it's a very good investment. If significant building work is needed or if you'd need to hire people to do most of the work... it probably works out cheaper to just buy a house in better condition.

[Tom4784]

Originally Posted by Cherie

10s of thousands so the article says, I would hazard a guess at 60,000, they probably split the short term loan between them and now the house is revamped they can get a mortgage on it and pay off the loand

Plus it could probably sell, for what?, 150k+? Maybe that's a bit low but if the rest of the area is still derelict that would probably affect house prices.

A ridiculously good deal.

[DemolitionRed]

So where can we find these houses?

[parmnion]

Fantastic, it must have been a nightmare, and a lot of hard work. Well worth it now though.

Great story.

[Marsh.]

The kitchen and bathroom.