Miles & Barr says ..

Property Oracle says ..

The property is a 2-bedroom flat located on Collingwood Rise in Folkestone, Kent. It is listed at £150,000 and has 646 square feet of living space. The average price for properties in the area is significantly higher, at £386,919, with an average price per square foot of £367. The flat is situated within a short distance of Folkestone West train station (1.05km) and several primary schools with good Ofsted ratings, including Birchwood and Sandgate Primary School. This suggests a reasonably convenient location for families and commuters. However, the surrounding area appears to consist primarily of similar-sized flats and semi-detached houses, which could limit the potential for future capital appreciation. Based on the provided images, the property is in poor condition and requires significant renovation. There is visible evidence of damp, water damage, and general disrepair throughout the flat. This will add substantially to the cost of ownership. The lack of a private garden or plot size is also a notable factor. Considering the property’s condition, the lack of outdoor space, and the relatively low price compared to the area average, the listing price of £150,000 may appear reasonable for a buyer intending to undertake a full renovation. However, the extensive work needed should be factored into any purchase decision. The cost of renovation could potentially exceed the current market value once completed.

Therefore, we give this property 3 / 10. *Disclaimer: This is our option and does constitute a recommendation or financial advice. Do your own research. *

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