The true cost of renovation projects in

The Property MarketMany people in the UK struggle to get a firm foot on the property

market and as such find themselves looking for

less costly and therefore more feasible options to

consider.

Increasing Trend Britons Often as a result of this increasing trend Britons are finding themselves effectively living on a

‘building site’ for considerable periods of

direct landers.

According to ResearchAccording to research

byconfused.com a staggering 45% of

Britons later found that such renovation

properties costed more than the amount which

had originally been budgeted for.

Renovation PropertiesClearly though even with this fact in mind, the lure of renovation properties

continues to increase with this recent survey concluding that 35% of people asked brought a property needing repair

as the only way to secure a place on the

property ladder.

Realistically FacingToday we will be investigating this

consumer habit in greater detail to

understand exactly what consumers in this position are realistically

facing.

Renovation PropertiesClearly though even with this fact in mind, the lure of renovation properties

continues to increase with this recent survey concluding that 35% of people asked brought a property needing repair

as the only way to secure a place on the

property ladder.

Renovation ProjectWhilst it is true that in

most locations in the UK that a renovation

project will come in cheaper, as we have

touched upon above, the true cost of the

entire project can be misinterpreted by

many.

Research Conducted by Confused

The research conducted by confused.com not only highlighted that over a third of those

purchasing properties in this way later

discovered

The Average Amount Spent

That said the average amount spent on a

property requiring work was £152,792.00, which as reported by Halifax in January 2016 is in fact £44,000.00 below the average price of a UK

house.

Funding Available to Renovate

Obviously this means for buyers in this position there is sizable funding available to renovate the property as required. Halifax’s research further suggested that an

average of £33,000.00 was spent on such properties

allowing for fair and worthwhile profit margins

upon completion payday loan landers.

Purchased a Property The survey compiling

these findings found of the 2000 people questioned, 1000 were discovered to

have purchased a property with the knowledge of

development work being required and 8% of these

admitted to not being able to afford to complete the work which was known to

be needed.

Property Ultimately Exceeded

In fact nearly 1 in 5 homeowners say that the market value of

their completed property ultimately

exceeded the total cost of purchase and

subsequent work required.

For more informationVisit this link below:-

http://www.bfwggrants.co.uk/Thank You