How To Buy A House – Advice, Tips & Essentials | 4Homes

Date Published:: 09/09/2008

The current housing market is extremely tricky, but there are still some buyers out there looking for a home or – more daringly – a neglected house to develop and sell on, hopefully at profit. So, you’ve found a good, solid area, now you need to find the house. So, what type of property should the smart investors be putting their money into - Georgian townhouse or 1930s semi? Take a look at the different styles of British housing to discover what’s ripe for development - and hopefully future profit - and what’s not.

By Sarah Jagger

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What To Look Out For When You View A Property

Profit Builders
Original mouldings and cornicing
Original fireplaces
Rooms with good proportions
A good balance of space between upstairs and downstairs
Original tiled floors – lift carpets to check them out if you have to
Floorboards in good condition
Well maintained windows
Modern electrics
Modern plumbing
Potential for expansion
Dreary décor – ripe for a revamp
A roof in good shape

Profit Denters
Lack of original features, such as fireplaces and mouldings
Ancient plumbing
Ancient electrics
Small, awkward shaped rooms
Load-bearing walls in areas you’ll want to knock through
Small windows that don’t allow in natural light
Signs of damp or structural problems
Little room for expansion
Little outside space

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I have been trying to sell my late mother's house since July. It is 1930's, 3 bed semi, average garden, good area, decent schools in Southampton. My parents lived in the house since 1958 until 2005. The kitchen and bathroom need updated but are acceptable. You could move into it straight away. It is unfurnished since I had to get rid of everything when my mother died. The price started at 197500, it is now 189950. I have had a couple of offers of 175000, presumably to tie in with the stamp duty relief. I accepted the last offer last week only for it to be withdrawn the next day because the buyer 'had read the papers and seen prices would drop again'. I am having to travel 50 miles each way fortnightly to visit the house to comply with insurance, I am paying community tax as well as gas/electricity and water to keep the house damp proof and warm. As you can imagine, I do not want to face another winter dealing with the house. The estate agent is working to sell it, I think. If you have any ideas for selling I would be grateful. Is an auction an option? I am using this page because I can't find any where else on the 'Location, etc' site. Thank you.

Posted by Pat Rhodes on 15/09/2008 16:48:28

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Location, location, location. I have a property, a Barn Conversion, in the most perfect location in Cheshire and in total rural seclusion, but it's been on the market for four years with a go ahead agent. Would you be interested in assessing it's potential and speculating why it hasn't sold? Might make an interesting programme. Mike Smith

Posted by mike Smith on 11/09/2008 17:11:45

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Essential Guides & Advice How To Buy A House – Advice & Tips

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What To Look Out For When You View A Property

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