I need some advice regarding a property purchase.
Property - semi-detached house
Bedrooms - 2
Condition - average needs internal reno to modernise
Street - one of the best in suburb
Location - excellent
Close to schools - yes
Transport - 50m away
Time on market - 3 months
Price - has now become negotiable
The semi itself could be so much more than it is presently. Limitations are land size so any renovations would have to be taken up to improve size and bedroom numbers. Plan would be to purchase and hold for 5 or so years and sell our existing PProp to pay of semi. Main issues are what problems could I run into in renovating a semi? do you need full approval prior to renovations from next door semi? Does anyone make a condition of sale due to renovation approval? should I have a builder take a look and see if reno is viable?
The semi could be a good buy but only if it can be renovated.
Any advice would be greatly appreciated.
Property - semi-detached house
Bedrooms - 2
Condition - average needs internal reno to modernise
Street - one of the best in suburb
Location - excellent
Close to schools - yes
Transport - 50m away
Time on market - 3 months
Price - has now become negotiable
The semi itself could be so much more than it is presently. Limitations are land size so any renovations would have to be taken up to improve size and bedroom numbers. Plan would be to purchase and hold for 5 or so years and sell our existing PProp to pay of semi. Main issues are what problems could I run into in renovating a semi? do you need full approval prior to renovations from next door semi? Does anyone make a condition of sale due to renovation approval? should I have a builder take a look and see if reno is viable?
The semi could be a good buy but only if it can be renovated.
Any advice would be greatly appreciated.
