Home or Profit?
If you are tempted to buy a run-down property to renovate, check how long it has been up for sale.
In the current market investors are snapping up bargains. A property that's been on the market for more
than a few months suggests there isn't a great deal of profit to be made. However, if you are trying to
build a home rather than your bank balance, don't be put off, just be aware.
Look before You Buy
First impressions of new carpets, bathroom and kitchen can be a sign that a house has had a
superficial refurbishment but underneath is in need of a more serious renovation. Make sure
that you are not buying a money pit. In an older property you should be prepared for anything,
right down to half the wall staying on the wallpaper when stripping or great holes behind the
panelling. Don't be afraid to make umpteen visits with every type of tradesman in order to know
what you are letting yourself in for!
Ask the Experts
Roofers, timber and damp specialists and electricians will charge nothing or very little to
engage their services for estimates and will be more beneficial to you than a surveyor in the
initial stages. Always try and get recommendations before hiring tradesmen and don't be afraid
to ask where they last completed a job so that you can check the quality of their workmanship.