Posting here for traffic. I'd really benefit from some advice.
I am looking to buy a bit of a reno project (viewing this week). It is currently empty and priced well - I know the area and have looked up sold prices to get an idea of the ceiling which is a lot higher than the asking price for the property. Its an in demand area for finished properties and an area I want to move to.
It needs complete modernisation - central heating and electrics all in good nick but cosmetically will need refurbishment including new bathroom and kitchen. I would do a kitchen extension to make a great kitchen diner to high standard and consider a future second story extension to add a bedroom. I expect the initial modernisation and kitchen extension to cost £50-60k?
I am not buying to flip but want to ensure I don't make an unsound decision - advice on the questions to ask, things to look for and considerations would be very appreciated. I'd be selling my current home and moving in but I am not bothered about living in a building site as I work away a few days a week and have the cash for getting going straight away.