Phil and Kirsty are always debating whether their property searchers should buy a property that has potential or a home that is in walk-in condition.
An older property is often full of character and charm, yet, it does come with it’s challenges. A house in need of renovation can be very tempting because it will allow you to stamp your own personality and tastes on the property. However, a renovation project can also be very stressful, time consuming, and expensive. No matter how well you budget, it is likely that unpredictable situations will arise with hidden costs associated to them, and it is important to plan for this. You may also need to consider having to find temporary accommodation whilst some of the building works are being done if the property becomes uninhabitable. It is recommended that you either have hands-on experience or a trusty team of tradesmen to help with the project to ensure it runs as smoothly as possible. Through time you may be able to transform a property and perhaps also add value to it if you are planning on selling.
On the other hand, new build houses or homes that have already been recently upgraded or renovated, can provide an easy transition to modern living. McDougall McQueen has a new build team that can help you should you choose to go down this route.
New build homes come with a 10-year NHBC warranty covering structural defects and most developers also provide their own two-year warranty. New homes tend to be built to the latest specifications and are more energy-efficient too, so you could benefit from lower maintenance costs and utility bills.
There is no right or wrong answer as to whether you should buy a ‘fixer upper‘ or a ‘turn-key’ property, it will all depend on individual circumstances and desires at that particular time in their life.
25 July 2018