A two-bedroom semi-detached house in East Hull is set to sell at an online auction this month for £10,000, with sales agents saying that the property offers buyers an opportunity to add significant value and produce a strong return. The property is located on Swanfield Road and features an enclosed garden, a driveway, a detached garage, a kitchen, an inner hallway, a lounge with a bay window, and a ground floor cloakroom. Two bedrooms, one with views to the front and the other to the rear, and a family bathroom are located on the first floor landing. The house is in a popular area of Hull and is located close to the city centre, with excellent public transport links, facilities, and services. However, the property requires modernisation to bring it up to date.
Summary:
A semi-detached house on Swanfield Road, Hull, with two bedrooms, garden, driveway, garage, kitchen, lounge, and a family bathroom, all requiring renovation, will be up for auction from June 12 with Auction House Lincolnshire. Sales agents said that the property promises significant value addition for buyers, while also offering a strong return of investment in an immensely desirable location. It is being sold through an unconditional auction process that requires immediate exchange.
Additional Piece:
Despite the demand for housing in prominent areas, high prices often mean that individuals and families are unable to own a property in their preferred location. However, there are still pockets of real estate that remain affordable, but require renovation to add value and become habitable. These properties are of particular interest to first-time buyers or investors looking for a bargain within their budget. Swanfield Road in Hull is just one such location, where buyers have recently shown an increasing interest in properties requiring modernisation and updates due to its popularity and convenience.
The renovation of an old or outdated property is an excellent way to leverage investment capital, as transforming the home can boost the value of the property by up to 50%. In some cases, this value addition can be achieved at a fraction of the renovation and modernisation costs with careful planning and budgeting. Bringing an old and outdated property up to date develops your skills in renovation and increases your confidence in taking on larger projects in the future. The more you learn, the more success you have in making a considerable return on investment in the long run.
The current global economic condition presents a unique opportunity for smart investors who are looking to pick up bargains in the property market. With interest rates at an all-time low, it’s an excellent time to buy. A falling house price is unsettling for some people; however, the investors see this as an opportunity to buy low and sell high. Renovated properties offer the potential to earn more rent, sell at a higher price or even live in the property.
Furthermore, the pandemic has changed the way we work, leading to increased demand for homes that offer a space to work and live. Properties that offer a separate home office, garden or outdoor space are likely to be increasingly in demand as people spend more time working from home. Investing smartly in a property, like the one on Swanfield Road, Hull, that comes at a bargain price with excellent location and upgrade potential, makes sense in the current and future real estate market.
In conclusion, buying a property like this is an incredible way to get started with your venture in real estate. It offers a unique opportunity to learn how property renovations work, gain confidence, and make a solid return on investment in the long run. The property on Swanfield Road, Hull might be a diamond in the rough due to its lack of renovation, but it would not take much to polish it and turn it into a profitable and premium property.
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A semi-detached house occupying a larger-than-average plot in East Hull is set to sell this month for a guide price of just £10,000.
The two-bedroom property on Swanfield Road, for which a modernization plan has already begun, offers “an opportunity to add significant value to the property and produce a strong return in a popular area of the city,” according to Auction House, Lincolnshirewho will be making your sale.
With an enclosed garden, a detached garage and a driveway, the property includes an entrance hall, a kitchen, an inner hallway, a lounge with a bay window front and a ground floor cloakroom.
Read more: Small building with a fascinating past converted into an impressive house in Sutton-on-Hull
Off the first floor landing are two bedrooms, one with views to the front and the other to the rear, and a family bathroom.
The property’s location on Swanfield Road means it is within easy reach of the city centre, with a wide range of facilities and services close by and excellent public transport links.
The property is offered for sale by unconditional online auction with immediate exchange. The auction opens on Monday 12 June and a price tag of over £10,000, plus fees, has been placed on the house.
Anyone wishing to register to bid should visit auction.co.uk/lincolnshire
https://www.hulldailymail.co.uk/news/property/gallery/see-inside-semi-detached-home-8488621.amp
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