Do your  research

 Check how long the property has been up for sale. All properties we feature can be checked for length of time on the market from 1 day to 350. A property that's been on the market for more than a few months suggests there isn't a great deal of profit to be made at the asking price. If you fancy the property then try a low offer. If the property has been on the market a matter of days then a low offer is not advisable.

What should I look out for?

Ensure you're not buying a money pit. In an older property you should be prepared for anything, right down to half the wall staying on the wallpaper when stripping or great holes behind the panelling. Don't be afraid to make umpteen visits with in order to know what you're letting yourself in for!

Ask the experts

Roofers, timber and damp specialists and electricians will charge nothing or very little to engage their services for estimates and will be more beneficial to you than a surveyor in the initial stages.

How much work is involved?

This depends on the property, but don't bite off more than you can chew. For a good first experience of renovating, try doing up a dated property rather than a wreck. A new kitchen, bathroom, central heating, carpets and re-decoration will miraculously transform something dark and decrepit into a 'des res'

Funding

Be prepared. The phrase most heard when doing up a wreck is: "It cost twice as much as I thought it would." Set yourself a budget and build in some contingency funding - 15 per cent of the total cost is a good guideline.

You could start your renovation with a small cash fund, and once you've re-decorated and carpeted, the overall improvement should allow a small re-mortgage. This can be used for a new kitchen and reinstating period features such as fireplaces.