Move, improve or just do both?

AS PROPERTY agents, we’re always looking for trends and patterns - it becomes something of an occupational hazard!

However, being on top of what’s happening in the property market is a good thing as it allows us to advise our clients on their best next move which, in a competitive marketplace, is absolutely necessary.

At this time of year people start looking to the future and deciding on what their plans for the coming year might be, and we foresee a continuing trend in 2018 being that of house renovation.

Without a doubt, there’s been an increasing number of buyers in recent years looking to take on a project and the relative ease with which money can be borrowed, has meant that the market has opened up for many purchasers.

Unsurprisingly, the most popular properties for anyone wishing to take on a project, tend to be those with character.

Redbrick and stone properties are particularly sought after, whilst homes that offer a large garden also appeal.

Families, meanwhile, are the most common purchasers looking for a renovation property as these homes offer them scope on which to make their mark, whilst being competitively priced in preferred locations.

We’re also seeing strong interest in the town from purchasers coming from other areas.

In terms of the hot spots for do-er uppers, these are focused in two distinct areas, offering purchasers differing lifestyles: properties located within walking distance of the town centre, offer all-round appeal, whilst those in outlying villages where there are well-regarded schools, also command strong interest.

And there’s no denying that properties which offer scope for improvement, do tend to sell quickly.

Indeed, we often find the need to conduct block viewings, much like an open day, in order to deal with demand.

So, if you’re not afraid of rolling up your sleeves and you have a little vision; buying a property in need of refurbishment can be a great option with positive financial gains to be enjoyed.

Plus, the good news in this area is that the local planning team appears keen to work with clients to realise their vision and so planning outcomes are, overall, fair.

If property development is something that you’re keen to consider for your next move, then why not visit your local Andrews branch - located on King Street in Stroud - and speak with one of our team who can advise you on the current market, great properties ripe for development and the factors you’ll need to consider in order to achieve the best return on your investment of both time and finances.

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