When purchasing a property, many people are scared at the thought of needing to make a few improvements. Hence they pay a premium and go for something that needs no work.
But the best buys are often those where an element of upgrading is required - look at the example below. This property was featured on the blog a couple of months ago - an investor based out of the UK bought it - we've had the kitchen changed and some decorative improvements made within 3 weeks of purchase, and the tenant moves in during week 4. No fuss, no hassle - because we're geared up to deal with this sort of thing. The money the investor has spent - in the region of £3k - has added at least £6k of value to the property too - so from a business perspective it's been a sensible option for him to take.
I'm not suggesting people take on properties with excessive damp, or structural issues - but definable jobs such as a new kitchen or bathroom add value and shouldn't scare people as much as they do!
Sales plug......
We replace kitchens, bathrooms, windows, flooring, boilers, fences - basically anything internal (we stop short of full scale building work). We decorate, we clean, we do gardening!
At the moment anyone buying property is struggling to find value, and often the best way to so this is to but something that needs work, but not as much work as the vendor thinks!
But the best buys are often those where an element of upgrading is required - look at the example below. This property was featured on the blog a couple of months ago - an investor based out of the UK bought it - we've had the kitchen changed and some decorative improvements made within 3 weeks of purchase, and the tenant moves in during week 4. No fuss, no hassle - because we're geared up to deal with this sort of thing. The money the investor has spent - in the region of £3k - has added at least £6k of value to the property too - so from a business perspective it's been a sensible option for him to take.
I'm not suggesting people take on properties with excessive damp, or structural issues - but definable jobs such as a new kitchen or bathroom add value and shouldn't scare people as much as they do!
We replace kitchens, bathrooms, windows, flooring, boilers, fences - basically anything internal (we stop short of full scale building work). We decorate, we clean, we do gardening!
At the moment anyone buying property is struggling to find value, and often the best way to so this is to but something that needs work, but not as much work as the vendor thinks!
