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The Property Market Many people in the UK struggle to get a firm foot on the property market and as such find themselves looking for less costly and therefore more feasible options to consider.


According to Research According to research byconfused.com a staggering 45% of Britons later found that such renovation properties costed more than the amount which had originally been budgeted for.


Renovation Properties Clearly though even with this fact in mind, the lure of renovation properties continues to increase with this recent survey concluding that 35% of people asked brought a property needing repair as the only way to secure a place on the property ladder.


Increasing Trend Britons Often as a result of this increasing trend Britons are finding themselves effectively living on a ‘building site’ for considerable periods of direct landers.


Realistically Facing Today we will be investigating this consumer habit in greater detail to understand exactly what consumers in this position are realistically facing.


Renovation Properties Clearly though even with this fact in mind, the lure of renovation properties continues to increase with this recent survey concluding that 35% of people asked brought a property needing repair as the only way to secure a place on the property ladder.


Renovation Project Whilst it is true that in most locations in the UK that a renovation project will come in cheaper, as we have touched upon above, the true cost of the entire project can be misinterpreted by many.


Research Conducted by Confused The research conducted by confused.com not only highlighted that over a third of those purchasing properties in this way later discovered


Funding Available to Renovate Obviously this means for buyers in this position there is sizable funding available to renovate the property as required. Halifax’s research further suggested that an average of £33,000.00 was spent on such properties allowing for fair and worthwhile profit margins upon completion payday loan landers.


The Average Amount Spent That said the average amount spent on a property requiring work was ÂŁ152,792.00, which as reported by Halifax in January 2016 is in fact ÂŁ44,000.00 below the average price of a UK house.


Purchased a Property The survey compiling these findings found of the 2000 people questioned, 1000 were discovered to have purchased a property with the knowledge of development work being required and 8% of these admitted to not being able to afford to complete the work which was known to be needed.


Property Ultimately Exceeded In fact nearly 1 in 5 homeowners say that the market value of their completed property ultimately exceeded the total cost of purchase and subsequent work required.


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