Geo & Jas Oliver, W.S says ..

Property Oracle says ..

Springbank is a 3 bedroom house located in Hawick, Scottish Borders. The property is on the market for £165,000. The property appears to be a traditional style house, built of stone. It benefits from a garden to the rear. The interior requires some modernisation and updating. The kitchen and bathroom are dated and would benefit from refurbishment. The carpets and decor throughout also appear tired. The average house price in the area is £261,961, considerably higher than the asking price of this property. However, the average house size is 887 sqft, significantly smaller than the 1500 sqft of Springbank. The average price per sqft in the area is £295, which when applied to Springbank’s size suggests a value of around £442,500. Therefore, the asking price of £165,000 is significantly lower than the average price per sqft in the area would suggest. However, this needs to be considered in light of the property’s condition. The property requires modernisation, which would impact its value. The discrepancy between the asking price and the estimated value based on average price per sqft suggests that the asking price may represent good value for money, provided the cost of the necessary renovations is factored into the overall purchase price. The available data does not provide information about the quality of local schools or transportation links. Therefore, no comment can be made on the location score.

Therefore, we give this property 6 / 10. *Disclaimer: This is our option and does constitute a recommendation or financial advice. Do your own research. *

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