Spencers Of The New Forest says ..

Property Oracle says ..

This property located on St Thomas Street in Lymington, Hampshire, is a two-bedroom property presented as a significant renovation project. The photos show a property in need of complete refurbishment. Walls, floors and fixtures exhibit signs of damage and disrepair, meaning a buyer should budget for extensive modernization. The small, unkempt yard requires significant work to transform into a usable outdoor space. The property’s location in Lymington is favourable, with easy access to the town centre, shops, transportation via Lymington Town train station (1.15km away), and highly rated schools within a short distance. While the price point may seem competitive at £195,000 when compared to other properties requiring no renovation, this fact must be considered against the very significant cost of repair and modernisation required. Potential buyers should factor in these substantial renovation costs which will undoubtedly increase the property’s overall cost and must be carefully weighed against potential returns. Therefore, a thorough survey and detailed cost estimates are absolutely essential before making any purchase decision. The lack of square footage details for nearby properties makes it difficult to calculate a meaningful price-per-square-foot comparison, but the high average price for Saint Thomas Street suggests that this street houses high value property, further indicating that there is high potential for return once the property has been improved and modernised. However, given the current condition of this property, it is a high-risk, high-reward investment that should be evaluated using conservative estimates.

Therefore, we give this property 4 / 10. *Disclaimer: This is our option and does constitute a recommendation or financial advice. Do your own research. *

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