
A worn and stained carpet may be hiding a treasure. If you can, look underneath to see whether there are floorboards that can be sanded or, even better, a parquet floor.
Don't be put off by tasteless decor, but be aware of pitfalls. Woodchip and other textured wallpapers were great favourites a couple of decades ago and not just because of fashion. They also hid cracks in lathe and plaster walls and dodgy ceilings. So don't just think you'll be able to easily remove woodchip and re-wallpaper or paint because the surface underneath may be so badly damaged it will need to be replaced and that will send your costs soaring.
Properties that are tired and shabby don't sell well, but they are probably structurally sound, so a cosmetic 'lift' may well add value
Another fashion trend from a bygone era was hardboard. Panelled doors, spindled staircases and fireplaces in period properties were boarded up to provide 'smooth' lines. Careful removal of hardboard may reveal a treasure. On a staircase with one or two broken or missing spindles, it may be worthwhile having replacements made to retain a period feature.
When looking for a property with potential, don't ignore those that are borderline for refurbishment. Estate agents really push 'properties for renovation' because they know that there is a huge demand for them and, very often, the selling price is not much lower than for a finished house because so many people are attracted by the idea of 'doing up'. Properties that are tired and shabby don't sell well, but they are probably structurally sound, so a cosmetic 'lift' may well add value. Always check whether the work you wish to undertake will require planning permission and/or building regulations. Remember that these two functions are entirely separate; planning dictates what you can build, building regulations dictate how you build it.
The views represented in this article are those of the author and not of Channel 4. The purpose of the article is to provide general information only and does not constitute financial, investment, legal or other advice.You should not rely on any information provided in this article and you should always seek out independent professional advice relevant to your own particular circumstances.
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