Kev Kennedy's Blog

Potential?

We drove past a house yesterday which was up for sale and the sign added 'Good potential!' Which must be the estate agent equivalent of when someone describes a member of the opposite sex as having a "good personality".

I know it's the sign of an overloaded housing market, but it amazes me what people think they can charge for a house which is barely standing, the wet rot is in danger of meeting the dry rot, and the roof leaks like a sieve.

And of course there's the whole 'property developer' trend,where people think they can make a quick buck out of fixing up a house. I've yet to meet anyone, apart from slum landlords, who have ever turned a serious profit in property.

Knowing how hard it is to keep a house in working order, I admire the people who take on houses for their 'potential'. But you have to have a love for that sort of thing. Realistically it can end up costing you thousands more - not just in terms of the stuff you do, but the hours you spend doing it. Okay, so to get a fancier pad you might need to take a second job to pay the mortgage, but at least when you get home you can crash out in comfort and not worry about whether the boiler is going to blow up in the night.

Created on Wed 28th November 2007 15:32