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A place in the sun Presenter Lucy Alexander has revealed her six crucial tips to help property hunters find a ‘hidden gem’.
The real estate market can be difficult to navigate, especially for first-time buyers looking for their forever home, but what they don’t realize is that it could be right under their noses.
Research by property lender Together found that, in 2023, there were a total of 1.55 million residential homes worth £531 billion empty in England and Wales, and They are registered as ‘abandoned’.
Bringing her decades of experience to the table, the TV presenter and property expert, 54, is teaming up with Together to shine a light on the UK’s “hidden gems” and encourage the public to see derelict sites differently.
Here, Lucy shares her top tips for finding one with potential and restoring it into your dream home…
A Place In The Sun presenter Lucy Alexander has revealed her five crucial tips to help property hunters find a ‘hidden gem’
1. Find out if the abandoned property has an owner
The A Place In The Sun and Homes Under The Hammer star’s first top tip is to find out if the abandoned property you’re watching has an owner.
She recommended: “I would be chatting to all the neighbours, checking property titles and also subscribing to auctioneers and estate agents’ details.”
It’s a good idea to walk and talk to as many people in the neighborhood as possible to try to identify the owner.
Once you have a name and number, the next step is to contact them to make a formal offer.
Other ways to find abandoned houses include subscribing to auction updates from auctioneers and real estate agents.
2. Check the abandoned property’s energy usage.
Another “critical” thing to do from the beginning, according to Lucy, is to check the energy usage in the house.
Buyers should find out how much the running costs would be to avoid additional surprise costs.
She suggests: ‘Take enough time to contact the supplier to check they have the best energy tariff for the property.
“Given that 34% of people currently plan to live in or rent out their converted abandoned building, it is even more important to consider this in advance to budget accordingly and avoid any unpleasant cost shocks.”
The Homes Under The Hammer presenter landed a permanent role on Channel 4’s A Place In The Sun in March
Lucy is known for presenting Homes Under The Hammer from its release in 2003 until 2016, when she stepped away.
3. Check if the property is listed.
The presenter then highlights how important it is to do your research before bidding on a property if it is headed to auction; The most important thing is to check if it is on the list.
She advises: ‘If you choose to buy a derelict or derelict building that is listed, this means you must seek consent before making any major changes.
‘To check if your property is listed please go to National Heritage Listing England (NHLE) to confirm the building’s status, this is provided based on the postcode provided.
Adding: “Once you have identified whether your building is listed, be sure to check what grade it is as there are three different requirements for each.”
4. Stick to your budget and see which mortgage suits you best
The expert highlights how important it is to make sure you can afford the property and respect your budget.
She suggests: ‘A specialist lender may be what you need. Not everyone is lucky enough to be able to buy cash in this situation.
Bridging loans can be useful for getting the money you need quickly while you wait for finances to arrive from elsewhere.
However, be sure to weigh all your financial options before proceeding and don’t do anything too risky.
The expert highlights how important it is to make sure you can afford the property and stick to your budget.
5. Calculate renovation costs and engage with your local authority.
Lucy also reminds buyers that if they opt for a derelict property that needs a lot of work, they should factor renovation costs into their budget.
She explains: ‘Renovating a derelict or derelict property can quickly incur high costs unless there is careful budgeting and a strict financial plan from the start.
“Depending on the structure of the site and the scope of work needed, it can also be much more complex than doing the same thing with newer buildings.”
She advises that it is recommended to work closely with the council and local authorities for these types of projects, especially if you need to apply for special planning permissions.
6. Check the building permit for the property.
Finally, after you have purchased your new property, it is important to think about planning permission before starting the celebrations.
Lucy said: ‘Firstly, working with the local council on a pre-planning application can help gain support from the local authority’s planning team. This will help avoid delays and possible planning rejections.
‘Not only this, but understanding the issues that councils are most sensitive to and addressing them directly by actively engaging with planners is crucial to ensuring scheme consent goes ahead smoothly.
“This is especially true in the case of large-scale renovations that may involve a change of use of the property.”