The world of real estate is truly a fascinating place.
What you can get for one amount of money in one place is quite different in another.
For example, at just under £1million you would get quite a nice and spacious home in many parts of the country – even two houses in some places.
But in Londonit looks like this price is comparable to this run down five bedroom terraced house – currently on the market.
The property for sale in Lower Clapton Street, East London, is in urgent need of repair.
So while the asking price is £950,000, buyers will have to spend a lot more to renovate the property.
This is partly because there are currently holes in the ceiling, plaster is missing, wallpaper is hanging from the walls and holes in the floorboards.
However, those willing to put in the work (and money) will get 2,631 sq ft to play with – including five bedrooms, two reception rooms, a kitchen and two rooms on the ground floor.
The list highlights that the property is in need of modernization but there is potential for extension – subject to certain permissions.
There is also a decent backyard. And location wise, the house is moments from Clapton station – plus Hackney Downs Park, Millfields Park and Hackney Marshes are all easily accessible.
Anyone looking to take over the house can bid in the auction, which will take place on July 19 with Savills.
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