How to spot potential – and bag a bargain
Thrift is the new buying trend. Linda Jeffcoat, director of Stacks Property Search in Wiltshire, explains how to spot property that offers potential for growth.
Spotting weaknesses that can be fixed, for example:
Identifying planning potential can pay dividends:
Property with a nearby outhouse that can be joined up by a link-extension – planners look favourably on this. If you find a small property sitting on a large plot, it may be worth having discussions with a planning consultant to discuss ways, beyond simply extending the property, of exploiting the surplus land. Planners are in a relatively benign mood, and you may find you can develop the plot significantly.
Look for locational potential:
Look for forthcoming improvements in communications to find good locations to buy in. For instance, under discussion is a bridge to connect east and west Gloucestershire, making the area of the county to the west of the River Severn a great deal more desirable, with access to the M5. HS2 and Crossrail are a couple of the better known major infrastructure projects which will dramatically improve the value of many properties, but look out for smaller projects too – the new Tube station at Battersea will be a big bonus to the surrounding area.
Finally, don’t dismiss property that has an atrocious EPC, leaky windows, and is generally under-insulated. These weaknesses should be taken into consideration in the valuation, and dramatic improvements can be made in the efficiency of an old building. For example, fitting renewable energy generation such as hot water solar, roof-mounted PV panels, and ground/air source heat pumps will bring a property straight into the 21st Century. Even draught excluding/proofing, and upgrading heating systems will make a significant difference.
Stacks Property Search & Acquisition, 01594 842880 / www.stacks.co.uk
Call us on +44 (0) 1594 842880 or complete the form below
View our property finder services
When making probably the most important financial decision of your life, it pays to have the right advisors at your side.
Retirement or semi-retirement is an exciting stage in life. Finding the right home to live in and enjoy it to the full is important. We know that and will do all that we can to understand what you’re looking for… before starting to search. And search we will, until we find the house of your dreams.
Relocating is time consuming and stressful. We regularly work with clients who live abroad. We hunt, short-list, prepare your viewings, and make the search process as easy as possible. We oversee the negotiations, manage the conveyancing, and deal with the headaches, so you can concentrate on other aspects of your move.
A holiday home is often an interesting mix of investment and heartfelt connection. You want to use it, but you may well also be keen for others to use it too. We can advise you on what factors to consider in making your decision. And we can then find the perfect holiday home for you to enjoy.
Others say, ‘location, location, location’. We say, ‘location, purpose, price, capital growth, rental returns’… the list goes on. Knowing the market is critical. Local knowledge is key. We ensure all aspects of your investment decision are addressed. Finding, analysing, negotiating, and completing… it’s what we do.
Receive updates about the world of property, straight to your inbox.