How Can You Bring Life to a One-Pound Property?

Houses on a street in Stoke-on-Trent have recently been sold for just one pound. There are not many properties available at such a low figure, but you can still pick up a bargain if you?re considering renovating.

Stoke-on-Trent is the latest local authority to offer some of its stock of rundown properties for sale at substantially reduced prices. It is currently in the process of allocating a handful of houses on one street to eligible residents and workers. Those lucky enough to be selected will be able to purchase one of the terraced homes for just one pound.

There is a small catch, though. The properties do require at least 30,000 pounds' worth of improvement works in order to bring them up to a liveable standard. Residents will be able to receive this money from the council and pay it back over a period of 10 years. However, this still leaves them with a bargain that they will then own outright.

The properties have been left with the basic core intact. This allows the new residents to put their own mark on the house by installing new kitchens and bathrooms, fitting a feature staircase and redecorating to suit their own tastes.

Even though this is one of the first schemes of its kind, it?s hoped that other local authorities will keep an eye on how the model works. It could then be pushed out to other areas of the country. Liverpool City Council has already run a similar programme involving 20 of their properties.

Taking on a Renovation

This might be a fairly extreme example, but there are still properties you can pick up at a good price if you look in the right places. Buying a renovation project enables you to create exactly the home you?re looking for. Depending on the scale of the project, there?s the opportunity to do a complete refurbishment ? from building a conservatory to installing a new fitted kitchen.

As well as the interior of the property, you can also achieve a great deal on the outside. Gardens are an important element of a home, but if outdoor space is lacking then installing a balcony could offer you many benefits. This provides the perfect place for relaxing and entertaining and a balcony railing is the perfect place to hang lighting and outdoor decorations.

Whether you buy your property for one pound or 100,000 pounds, it?s what you put into the renovation project that will help you create the perfect home.