This three-bed property in east London appears to be a bargain at £250,000 – but potential buyers really need to look inside.
The terraced house in East Ham could easily be a smart family home but for one major snag Property The fire inside caused extensive damage.
it’s on the market auction houseWhich warns anyone who might be interested that it “requires a full program of upgrades”.
Then to make things worse the back garden is piled up with junk and garbage.
The ground floor has two rooms and a kitchen that leads to the garden.
Upstairs there are three bedrooms with bathroom.
The freehold property is well located on a residential street and close to local shops and amenities.
There is also a Barking Park nearby.
It is also handy for transport links with the Barking Underground connecting to the District and Hammersmith and City lines, while the Overground line goes to the north. London And if you need to go further there is the railway station.
at Manor Park station Elizabeth LineOnly 20 minutes walk away.
With the Elizabeth Line only open, it may be time for property hunters to strike a potential bargain along their route – although those properties may need considerable work to make them habitable.
Estate agents have tipped Forest Gate in Newham as a place where savvy buyers can get more bang for their buck.
Flats in the area can currently cost as low as £90,000 and three-bed terraced houses for as little as £250,00, which is well below normal prices in London.
According to Rightmove, properties in London had a total average value of £688,777 as of last year. Terraced properties sold for an average of £768,289.
But those low prices can come with a catch because many people run away and look like they haven’t in years.
Robin Molly, an estate agent who works for Foxton in East London, recommends potential home buyers to “look outside your comfort zone”.
Robin said: “One Gate is a great area for investors and especially those who are looking to make a little money or start a family. One Gate has a lot of options but if you want a real deal you have to One should consider getting a house.
“For some reason, there are a lot of houses on sale that need a lot of work. You can buy a house for around £200-300k and then spend £50k on getting it done.
“Then you can sell it for more money. With the Elizabethan line, it’s going to grow even more.
“You’ll need to do a bit of DIY to keep costs down, but if you don’t mind doing a lot of work you can easily build a nice home to live in or sell.”
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