Would you take on the challenge for £5k?

[offmytrollydolly]

I have been house hunting for 28 months and getting a bit esperate.

Would I be reasonable to take on this challenge, just to get on the housing market? I'm not scared of hard work. Only myself to please.

YANBU - GO FOR IT
YABU - WHAT'S A MATTER WITH YOU GIRL??????

www.rightmove.co.uk/properties/127365878

I don't live far from this area, couple of miles away. For 5k I'd absolutely go for it, subject to what the survey shows up.

Labour isn't as expensive around here as other areas, I'd find a local firm with references to do as much as you can afford. It's a town centre location, plenty of pubs around there, coffee shops and cafes and the high street isn't as bad as some. It has good transport links as well. If you are local you will know of other small towns that have been similar but have improved massively like Elsecar. I'm not saying that Wombwell will ever do the same but it's not a million miles away.

Only thing I would be wary about is parking. Think it's residents only at the back of Tescos across the road but would check that. Terrace streets are awful anyway but you would be pretty close to the high street.__

I'd be afraid of finding the mummified remains of missing people under there somewhere.

If you're not put off by a commute, OP, you could get some condemned nice flats in areas of the West of Scotland for the same price.

are you thinking of buying it to live in as your home, or as a buy to let? Do you actually want to be in that particular area if it’s going to be your home? (I don’t mean that as a judgement, just don’t buy it if you don’t know/like the area because it appears a bargain)

The £5k is just a come and get me price to appeal nationally to cash investors, it won’t actually go for that price. Don’t get emotional about it, look at the figures realistically for doing a full refurb and then decide what your maximum outlay is to purchase with a 10% contingency included on the realistic refurb costs.

It won’t sell for 5k. It will sell for a price that an experienced renovator who has access to their own free skilled labour or mates/family rates will be able to do it up and make 10k profit if the figures you have suggested for similar properties are to go by.

Worth a punt but I don’t think you’ll be getting a bargain that is worth the effort

You'd spend almost as much again on skips

I love Barnsley and the people who

...live there.
( Sorry, phone threw a wobbly)

Would the buyer have to clear out all that stuff?!

BAAAAHHNSLEHH

then hello fairly near neighbour! (2/3 miles towards roth) if you have a fairly good budget, sounds like youre up for the challenge and understand the risks/getting full surveys etc then why not.
ill come and have a look when youve finished, maybe even let you make a cuppa 😂

Some of us have watched far too much Homes Under the Hammer and therefore here's my placemarker and I do solemnly swear to follow this to the bitter end....

There's a bottle of domestos in the bathroom to get you started ... Seriously, these properties always make me sad. No-one sets out to end their life living like that.

Do you have the cash to buy it then the cash to renovate it? You'll need cash for the auction. No idea how much. Say it goes for £50k plus the fees

It won’t go for £50k. It might go to £20k. As pps have said, a builder will buy that, patch it up, put a cheap kitchen and bathroom in and make a killing.

What are the neighbours like?

I would but 95% of my family are tradies. I took on a house and it hadn’t been touched since the 70s but my dads a joiner, father in laws a builder, brothers a welder, others a plasterer, father in laws a builder and brother in laws a plumber. We lived in our caravan till we had the sitting room and kitchen done then lived room to room while renovating others. It took time and energy but not that much money just a lot of favours. I’d say go for it. Ours had a guide price of £23 grand for a 3 bed but ended up paying £54 grand.

Do you have a savings to do all that work then? It would take tens of thousands. You wouldn't be able to get a mortgage for it.

I'd be concerned about the neighbours too. You couldn't pay me to live in some areas of the city here, basically crack dens.