6 things to consider before buying a renovation property
Taking on a property that needs a lot of work doing to it can be a shrewd investment – as long as you weigh up the pros and cons first.
Are you ready to take on a renovation project? Although there are some bargain buys out there that could make you a tidy profit further down the line, renovation is not without risk, and it’s certainly a lot of work, from the planning and organisation to the actual knocking down and building.
You could come unstuck if you’re tempted to rush into starting work without first taking stock of your finances and the structural condition of the property.
So before you take the plunge, make sure you have a realistic idea of what you’re getting yourself into and consider these factors.