Modernising A Rundown Property 'Can Be A Real Opportunity'
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Released
on: September 22, 2009, 6:06 am
Author: Local Quoter
Industry: Real
Estate
Astute
investors can enlist help of quality tradespeople to boost returns
It
has long been the case that investors have seen renovating and
modernising a run-down property as a good opportunity to make
money.
But
in times like the present, when anyone who is still in the market
for property can drive a hard bargain, such investments offer
an even more appealing deal.
This
is because, with good properties scarce, investors’ attention
will increasingly focus on what is available lower down the market,
where the potential long-term gains are greater.
Les
Yates, of Bolton-based trade comparison site, LocalQuoter, believes
that, with lots of tradespeople working at less than capacity
due to the recession, there is also plenty of help and advice
available for would-be investors.
“Competition
is fierce among quality tradespeople, whose workload has slowed
with the onset of the recession,” Les points out.
“So
they have more time to advise on which improvements are needed
to a run-down property, and which will bring potentially the highest
return.”
Measures
such as a new fitted kitchen, double glazing and a new bathroom
always have the greatest appeal for buyers, and are one way to
make money in a flat housing market, it has been claimed.
But
with renewed emphasis on energy efficiency, any improvements which
enhance a house’s energy-saving performance are also likely
to bring good returns for investors.
A
recent article in the Times suggests that, while unmodernised
homes may not at first sight look very appealing, they offer a
real opportunity to make some cash.
It
states that as house values have dropped, properties which need
a lot of work will have seen their asking prices drop even further
than their neighbours.
Speaking
to the newspaper, Ed Mead, of the London estate agent Douglas
& Gordon, agreed.
"Undoubtedly,
if you want a bargain at the moment, it's best to buy unmodernised.
When the market crashes, the first casualty is condition,"
he said.
Local
Quoter can provide you with all the information you need to embark
on any home improvment or enovation project such as Double
Glazing Quotes, Cheap
Double Glazing and Conservatory
quotes
Contact
Details: Les Yates
LocalQuoter.net
Coe House,
Coe Street,
Bolton,
Bl3 6BU
01204488919
les.yates@localquoter.net
http://www.localquoter.net/