Home could be yours for just £275,000 – half the price of its neighbours – but it comes with a catch
THIS home could be yours for just £275,000 which is half the price of its neighbours – but it comes with a catch.
The house in Brighton suffered extensive fire damage at the start of the year.
Just a burnt out shell, auctioneers can’t be sure how many bedrooms the property has.
In a picture of the home at the time, plumes of smoke were seen escaping through the roof – which left a huge hole.
Despite this, the home is still expected to go for higher than the guide price.
Homes in the area roughly go for around £700,000.
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So what seems like a bargain, will cost the buyer much more to restore it to living conditions.
Internal viewings of the home aren’t able to take place either so it will be bought sight-unseen.
A description of the property on Rightmove says: “Freehold mid terrace house. Fire damaged.
“The auctioneers were unable to inspect the property at the time of print.
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“It is understood that the property comprises three-bedroom accommodation.
“Purchasers are deemed to rely upon their own enquiries as to the internal layout of the property.
“Note: The property is fire damaged therefore internal viewings will not be conducted at the property.”
The house is on the seaside resort’s Shaftesbury Road, where a three-bed, double-fronted home recently sold for £725,000.
The boarded up Victorian pad with all the windows smashed in will be up for auction on November 16.
Close to local shops, restaurants and Brighton Train Station the area is a motivating factor for purchasing.
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At the time of the fire, it was treated as deliberate by police – who were called over fears for a man’s welfare.
Nearby residents were evacuated and one man had to be rescued before being taken to hospital in a “serious condition”.
How much does it cost to renovate your home?
According to HomeOwners Alliance, to fix this house would cost a huge amount.
Just to replace the windows it would be around £400-£600 per window.
A new kitchen starts from £10,000 with the price of a new bathroom being around £6,000 and up.
A main problem with this property is it currently doesn’t have a roof – which will set you back around £4,500-£12,000.
And that’s before all the cosmetic work you would like to do to make your home cosy.