How can you find a good property deal in Guildford?

I was talking to a developer the other day, when he suggested that there were no property bargains for him to buy in Guildford. Here is what I discovered recently about finding bargains that I had discovered over the last few months.

A 2 bed bungalow in Gateways sold last May for £525,000. In July 2016, the property had previously sold for £575,000, a drop in value of 8.7%!

Having purchased the property at a reasonable price and realising that the average price of property in this road is £1,120,750 a developer would have had the opportunity to profit from their investment.

This road comprises mostly detached 4/5 bedroom homes so the buyer would have the scope to increase the size of this property. While the property would not lend itself to being converted into a house it did at least have sufficient garden room to allow for the floor space to be increased subject to planning permission, and by modernising the bungalow increase its value to resell the property at a higher price.

On the other hand another property in Harvey Road sold for £1,622,500 in May this year. This represented a substantial increase of 63% since it was last sold for £995,000 nearly 4 year's ago, in November 2015.

This increase in price was realised by using a cleverly designed plan to maximise the use of space throughout. This home is now an impressive refurbished and remodelled six bedroom detached family home. The property has been extended to provide an additional 100 sqm. There is a new and substantial kitchen and breakfast area plus two additional bedrooms including one further ensuite bathroom.

The prime area of Harvey Road is situated above the High Street so is very close to the town centre, in addition to providing beautiful far reaching views across Surrey and Berkshire on the horizon. Harvey Road is also close to Pewley Downs providing access to miles of lovely walking and riding countryside with many footpaths and bridleways. The Royal Grammar School for boys is located in the Upper High Street not far away; and a short walk to The High School for girls.

This just goes to prove that a property does not necessarily have to be purchased at a discount in order to realise a healthy return on one's investment, However understanding your market and creating a high specification to meet the expectations of your buyer, ideally wanting to live in a lovely house close to the town centre, does help.

If you would like to talk to us about property in Guildford please feel free to call me on 01483 600840 or go to https://instantvaluation.newman.uk.com/ to discover how much your property is worth today.