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kuro507

Planning my first B2S

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Morning all

My existing home is going on the market this week :o

Now time to plan my property journey, I'm looking to purchase a house I can add some value to over the next 12 months (B2S), I will be living in it and then may do the same again afterwards. The long term goal is to increase my equity and find good tradesmen along the way ready for a self-build in 5-10 years time.

I'm looking in the Droitwich/Bromsgrove (Worcestershire) areas as that's where I'm familiar with and its local for work. I'm a very competent DIY'er and done some big project in my current and previous houses.

I would value any advice you may have on things to consider when purchasing this property and the best ways to add value. Simple properties that just need TLC, new bathrooms, kitchens etc (Typically lived in by same old couple for 40+ years and untouched), or buying 3 bed with option to extend to 4 or 5 bedrooms. Or something else.

Should I be looking at first time buyers and therefore small family houses and making amazing gardens and entertaining spaces?

I have lots of ideas but need to temper them against the maximum gain per expenditure. I've read a few books and watched some youtube videos.

Any suggestions, ideas, thoughts gratefully received :)

Who knows, I may be able to start my own property journey blog soon :)

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Hi Kuro507

I'm not familiar with the area, but best way is to get an idea on what the local market wants. There's no point in extending to a 5 bedder if there's no demand for it. So if you haven't done so already, check out what's being rented out or chat to the agents and see what's in demand and then plan around that. Some questions might include;

  • Is it close to good/outstanding schools?
  • Are there large employers close by?
  • Surrounded by council estates? Street full of HMOs? 
  • What's the demographics of the area - e.g. young couples, retirees...

A couple of articles on best value improvements to the home:

https://www.propertyreporter.co.uk/household/kitchen-makeover-revealed-as-the-uks-most-popular-home-improvement.html

https://www.propertyreporter.co.uk/household/what-are-the-most-profitable-improvements-you-can-make-to-your-home.html

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