THE housing market has had [...]
| Published date | 08 April 2024 |
| Publication title | Huddersfield Daily Examiner |
More than half (52%) of people pass by an abandoned building every week, according to research by Censuswide for property lender Together.
For some people, the idea of buying a property that isn't turnkey ready may seem daunting. But it could be a chance to put your own stamp on a property.
TV presenter Lucy Alexander, known for shows including BBC1's Homes Under The Hammer and Channel 4's A Place In the Sun, has teamed up with Together to offer some tips for unearthing a hidden gem.
Renovating abandoned derelict can up high Lucy
The campaign aims to highlight the scope and scale of the
UK's abandoned and derelict buildings, and the opportunities out there for restoration and redevelopment. DO SOME SLEUTHING If the property you're interested in looks to have been abandoned, Lucy says: "Firstly, it's important to work out who the owner of the property is."
Local word-of-mouth can be key to this process.
"I would be chatting to all the neighbours, checking the deeds of the property, subscribing to auctioneers' and estate agents' details as well," she says.
"You can always pop next door to the abandoned building and maybe ask a neighbour, a shop owner in the road... Everybody knows everything on the street.
an or property." quickly run costs Alexander "Once an owner is identified, the next step is to contact them to make a formal offer," Lucy adds.
She says checking energy use is also key. She suggests: "Find out is it [the property] on mains gas, is it oilfired? The energy usage would be part of your main homework.
"Confirming how much energy and running costs of an existing building are before you purchase is critical. Set ample time aside to contact the supplier and check you are on the best energy tariff for the property."
RESEARCH IS CRUCIAL Some buyers may encounter difficulties with their plans to make changes if the property turns out to be listed, so this is worth checking out thoroughly upfront.
And if you're going down the auction route, Lucy says it's crucial to have done your research.
"Know what you're bidding on, be very thorough, chat to the auction house beforehand," she says. "Maybe take somebody with you, and read the legal pack before bidding at auction."
It could also be...
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