Iliffe & Iliffe says ..

Property Oracle says ..

The property is a 3-bedroom, 1-bathroom semi-detached house located on Ospringe Road in Faversham, Kent. It has a plot size of 1,196.95 sqft and a total area of 774.50 sqft. The asking price is £325,000.

The property is in need of significant renovation. The interior photos show dated wallpaper, worn carpets and flooring, and what appears to be some damp issues. The kitchen and bathroom are also in need of updating. The garden is relatively small and requires attention.

While the property is situated in a convenient location with nearby schools and transportation links, the condition of the property significantly impacts its overall value. The average price per sqft in the area is £418.00, while this property is listed at a lower price per sqft. However, the required renovations would represent a substantial additional cost, potentially offsetting the lower purchase price. The nearby listings provide a useful comparison, although the lack of sqft information for these listings makes a direct comparison difficult. The lower priced nearby properties are terraced houses, and therefore not directly comparable.

Considering the necessary renovations, the relatively small garden, and comparing to similar properties in the area, the list price of £325,000 may be reasonable for a buyer willing to undertake a full refurbishment. However, the extent of the work needed should be carefully considered before purchasing.

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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