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How To Spot A Money Pit

Buying up and leasing property is considered one of the most sure-fire ways to make a profit these days but, as with any venture, there are risks involved.

With £68bn spent on renovations by residential property owners every year, it’s worth your while to put some legwork in to identify existing issues before they become your problem.

It’s easy to become enamoured with a building that has a lot of character without thinking through the potential issues you may face if you take the plunge.

It’s not just the upfront costs you need to worry about, with tens of thousands spent by many who realise after signing on the dotted line that their golden goose has become a money pit.

This doesn’t mean that with a bit of insight and a willingness to haggle with the seller you can’t bypass these issues entirely and end up with a great investment in hand.

This infographic gives you a guide to ensuring your next property purchase doesn’t leave you haemorrhaging cash.

How to spot a money pit