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Digital Subscriptions > Homestyle > September 2016 > Should I buy a fixer-upper?

Should I buy a fixer-upper?

Discover once and for all if you’re ready to take the plunge with Hayley Gilbert’s seven-part guide

READ OUR EXPERT ADVICE TO DECIDE...

Set a budget

✔ Most of us will need a mortgage to fund the project, and there are two main types – fixed rate, where the interest stays the same for a number of years (usually between two and five) or a variable rate where it can change.

✔ A standard mortgage should be fairly straightforward, especially if you can live in the house while the work is being done. You could then take out a loan to pay for the building work and remortgage when the work is complete to pay off the loan.

✔ Another option is a specialist mortgage provider such as Buildstore (buildstore.co.uk), who offers Advance and Arrears Stage Payment mortgages that lend a percentage of the cost of the property with staged payments, which are made either at the start or end of each works. Also, Ecology Building Society (ecology.co.uk) has mortgages for eco new builds, renovations or refurbishments.

✔ Always remember to factor in at least 10% as a contingency for any unforeseen costs – they will happen!

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About Homestyle

As we wave a fond farewell to summer, this month brings the promise of a fresh start and a clean seasonal slate to inspire a new phase of home styling. We’ve rustled up a whole host of inspiration to spur you on, including how to amp up the texture for cosy, autumn-ready schemes on page 112 and a six-page decorating masterclass starting on page 66, where design guru Emma Fishman shows us how to unleash the potential of our living rooms in her One Sofa: Three Ways series. If all this talk of new beginnings has got you thinking about taking the ultimate housing leap and buying a renovation project, Hayley Gilbert has done all the hard work for you (well, maybe not all...) with her Should I Buy a Fixer-Upper? expert guide on page 72. It’s the ultimate read for anyone who’s teetering on the edge of a purchase and simplifies all the legal bits, plus includes watertight advice from industry professionals. But if you’re more of a turn-key type, we haven’t forgotten you – flip to page 60 for staff writer Abbi’s shopping handbook for furnishing your home from scratch. You’ll also find utterly irresistible décor pick-me-ups in our metallic accessories (p.22), graphic wall art (p.34) and botanical cushions (p.46) bargain buy round-ups, plus four beautiful real homes and three wow-factor room transformations to feast your eyes on. Enjoy.