I’ve been watching the odd property make over programme in a series where folk buy grim places at auction. They’re usually the sort of place that would never sell in a million years on the open market. It’s always been the same with neglected and run down terraced homes. They always used to be difficult to get mortgages on – if a fire took hold in any one of the terrace, the common loft areas could allow it to spread more easily and of course, to rebuild one of a terrace inevitably required attention to the ones either side of it. These days with more modern and very safe buiding methods and materials, this doesn’t seem to be such a consideration, in fact the housing construction sector is frantically building as many starter terraces as they can to keep up with demand of first time buyers. I know one couple who are smitten with not only their end terrace but that their mortgage is less than half what they were paying in monthly rent. Win win.
