Would you buy a property in Surrey that needed work?
Buying a project property that needs some or a lot of TLC can be a good way to cut down on the initial cost of buying. It also gives the buyer a chance to make the house their own. Although it might be a scary thought for some, it seems more of us are prepared to get our hands dirty and tackle some degree of work on a property to make it perfect.
According to figures released by Zoopla, more than seven in 10 would willingly buy a property that needed work doing, than a ‘done’ building. With 33% of respondents saying they would be willing to take on major jobs including structural work, and one in five of these would not get professional help.
As well as the new-found love of working on a property, there’s a greater willingness to spend more money, with the average renovation standing at £17,765.
If you are looking at buying property that needs renovating, it’s important to have the right mortgage funding your purchase. Also you should make sure your home and buildings insurance is up to scratch before you undertake any major work.
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