Thursday, 27 June 2013

 
Guide Price £70,000 and spacious - a project
 
 
This is on the market with a local agent with a guide price of £70K-£80K and I think there could be a deal to be done. This is quite a typical 'turn of the last century' terraced house so you get plenty of space and potential and this could make a good refurbishment project to either rent out or turn round for resale. On this one you should get a full survey done to check for any hidden surprises (roof etc) however it's stood this long so is likely to be fine.
 

This one is definitely a 'project' but the basics are good. Two large reception rooms downstairs as you'd expect both about 12' x 11' and then upstairs two good doubles and a single.
 
With the market starting to pick up and plenty of incentives for first time buyers then if you get this at a good price, do a good refurb in a contemporary style and keep the costs under control there's good potential profits to be made - if you're prepared to work at it.
 
Keep an eye on your timing if it's going to be a buy/refurb and resell project. You'll need to turn it round quickly and get it back on the market before the winter arrives and it slows down. Or, accept it will be the new year, possibly spring 2014, before the market is at its best for resale. Renting for a period then picking your time for resale may be a good option.

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