A great way to get onto the property ladder if you have a smaller budget is to buy a house that is in need of renovation. If you are not able to stretch to buy a house in a certain area, or you want a project that you can stamp your own mark on, restoring a house is a great way to do this.
It is important however to remember that when it comes to doing this, you are likely to need to factor in the cost of getting professionals in to help you and the amount of work that you will need to have done will of course affect the cost of this.
Finding a builder in your area is a good thing to do first – search online for construction companies Manchester like this https://www.piggottandwhitfield.co.uk/building-services for example, and you will be able to find people who can help you.
Getting a property that is in need of work is best done at an auction. If you have never bought a property via auction before, this is a rough guide to help you to do this:
First of all, register your interest with various property auction houses. Do research on the auctioneers that are in the area and look at the types of property that they have in. If you register with them they will be able to contact you about upcoming auctions and properties that may be of interest to you.
If there is a property, or a few properties that take your fancy, then you can get in touch to arrange to view it. This is when it is good to have a builder come along with you, as they will be able to assess the work that needs to be done, giving you an idea of the cost that you can expect. This is also a good chance to check out the local area as well as the property itself.
If you are still interested in a property, you can request a legal pack, which will contain more information. A solicitor will be able to help you here if you are not sure about something in the pack.
Once you have decided that you are going to bid for the property, then you will need to attend the auction. Before you go, make sure that you have a budget in mind that you can go to, as it can be tempting to get carried away at an auction.