The BBC reports today of a three bedroom property in Stockton which will be auctioned off with a starting price of £750. Fair enough, it's a bit of a fixer upper and in dire need of some TLC. After all, it will need new electrics putting in, new plumbing, a new kitchen and a new bathroom (not to mention a total redecoration of every other room), but even the cost of that won't be anywhere near the price of a move-in ready property. Slightly more disconcerting though is the report that it is in an area with "anti-social behavioural problems".
Now I apparently live in an area with a fair amount of crime (according to the Police.uk crime map) but I have never witnessed anything nor had anything happen to me or mine, and so I don't feel too worried. But there is something about the words "anti-social behavioural problem" which gives me the shivers. And so I pose the question: as a first time buyer with limited funds what should I look for? Should I stretch my funds as far as they can go to afford a property in a "nicer" area, or go for something I can comfortably afford in an area which is less desirable? Even if I feel safe in the less des area, the insurance companies won't think so and so my car insurance, property and content insurance will go up. Would all these added costs render the mortgage difference pointless?
What do you think?
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