What is the true cost of a fixer-upper?๐จ๐คฒ๐ป
While buying a fixer-upper may be a more cost-effective way of climbing the property ladder, the long term cost of bringing such property up to standard is likely to see homebuyers pay more in the long run, according to research from London lettings and estate agent, Benham and Reeves.
The firm analysed the current cost of purchasing a property in need of modernisation and how these homes compared to the rest of the market.
The research shows that at an average sold price of ยฃ358,034, unmodernised properties do present a more affordable foot on the ladder for hard-pressed homebuyers struggling with the ever-increasing cost of homeownership. In fact, they are 4.5% more affordable when compared to similar, modernised homes in the same area. To continue reading, please Click Here