Listed, crumbly old buildings are expensive. Every bit of work is a huge job with mega thick stone walls like that. Simple things like adding a plug socket. I imagine wifi would be limited to just the one room too
I designed my ideal house when I was arseing around with our 3D software at work. To be clear the software we use is not for this so it’s super rough round the edges.
Check out this scene in 3D and virtual reality on Sketchfab:
Pay off the remaining mortgage on the house we live in, which we’re perfectly happy with. But it’d be hard to resist the temptation to buy a small residence in one of our favourite places. Choosing only one would be tough though. And I’d love to be able to give some of my nieces, nephews and cousins a leg up when the time comes.
Indeed. That’s why so many stately homes are owned by the National Trust or English Heritage (and also why so many were demolished before the '70s). Large houses are an absolute money sink, and get even more so as they get older and need repairs etc.
Me, I’d go for a house that’s just large enough to hold a proper library and a film room as the only two rooms needed over a standard house. Heck, there’s probably plenty of reasonably priced (compared to a castle, that is) five bedroom homes that would do the job.
Only just looked at this if you bought that you could turn it into a wedding business, separate cottages and all that for families to stay in, you could easily generate a good income from that.
I’ve often thought about this when I visited clients with big townhouses in central London. I couldn’t (and still can’t) understand, if you can afford to live in a 7 or 8 million pound house, why you don’t live in a mansion in the country rather than a (rather nice) 4 bed in zone 2.
I guess because the hedge funds and investment banks are all in London. I suspect many of them move out to the country when they retire.
The seriously expensive property (Mayfair, Belgravia, Knightsbridge) are mostly international buyers now, and are occupied only a few weeks a year, if ever at all!
I’d just pay off my mortgage and stay where I am. Maybe get that loft extension done.
The problem is, you buy a bug house, it costs big money to run, sure with a few mil in the bank you’ll get some income out of it. Buy why splurge it all on a big house that costs a bomb to keep going when you could take that money and turn it into more money by investing it into rental properties or investments.