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How much would a property reduce in price if it needed a lot of work done to modernise it?

Property valued at 142,000.

Asked on Mar 11 2013, House Prices in Northampton | Report content

Answers (1)

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  • Hi. I assume that you have seen an updated property similar that sold for 142,000? It would depend on a lot of factors to be honest. If you are in a popular residential area and the property just requires cosmetic updating your best target market would be selling to people who wish to live at the property but make it their own. The devaluation so to speak would be only the cost of the cosmetic updating. If it goes into the realms of structural, heating systems, rewiring, re-plastering you will find the devaluation to be the cost of the work plus whatever the builder or developer wishes to make as their profit margin on top.

    Answered on Mar 12 2013, Report content

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