Dafydd Hardy says ..

Property Oracle says ..

This one-bedroom flat located on Belgrave Road in Colwyn Bay, North Wales, presents a mixed bag of pros and cons for potential buyers. The location offers some convenience, with its proximity to local amenities like shops and schools, and Colwyn Bay train station is within walking distance. This makes the location appealing to commuters or those who value access to transport links.

However, the condition of the property requires substantial attention. The interior photos showcase dated decor, worn carpets, and some areas of damage, indicating the need for significant refurbishment. The overall feel is that of a property requiring a complete makeover. The absence of a garden or any substantial outdoor space is a further drawback for many buyers. The property is a ground floor flat and this is not mentioned in the listing, which could be either a positive or a negative depending on the buyer’s circumstances.

In terms of pricing, £50,000 may appear attractive compared to some surrounding properties. However, it’s crucial to factor in the necessary renovations which will undoubtedly inflate the total cost of ownership. The listing lacks information regarding the specifics of the necessary repairs, which would be beneficial to potential buyers and help paint a clearer picture of the value proposition.

Overall, this property could represent a viable investment opportunity for those seeking a project to develop or someone looking for affordable accommodation in the area and who doesn’t mind the refurbishment project. However, potential buyers should factor in the total costs of bringing the property up to a habitable standard and understand that it presents a significant renovation project. Further investigation into necessary repairs and potential building regulation compliance is highly advisable before committing to any purchase.

Therefore, we give this property 4 / 10. *Disclaimer: This is our option and does constitute a recommendation or financial advice. Do your own research. *

Images