Looking for a bargain when speculation is low
This then begs the question: “Is there still value in ‘fixer uppers’ in 2015?”
Despite a decline in speculation activity in the residential property market over the past decade, there is definitely still value in buying properties, fixing them up and selling them at a premium. Since the majority of housing stock currently sold were last bought more than eight years ago, potential buyers should be conscious of the amount of property maintenance performed over the tenure of the property, since the degree of care applied by homeowners differs significantly. Subsequently, this market might yield the perfect opportunity for potential investors who are willing to buy somewhat neglected properties at a discount and restore it themselves.
Article Sourced from Lightstone Newsletter (Research by Roland Du Plessis)
05 Aug 2015
Author Lightstone
