It’s long been property’s golden rule — buy the worst house in the best street. But does that strategy still offer homebuyers value for money? ‘‘But you still need to know the market and pay an appropriate price. The worst properties in the best streets are always in high demand, but people can tend to overpay for them — I see it every weekend. You need to know what the values are in any neighbourhood, set your limit and don’t go above it.’’
For investors, JPP Buyer Advocate Catherine Cashmore said finding a property which will provide healthy capital gains is a lot more complicated than snapping up the worst house in the best street.
‘‘It’s true that you can change your house but you can’t change your location, but buyers can slip up if they simply go for the worst house in the best street,’’ Ms Cashmore said.
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