Today, I was doing my usual “surfing” the net thing, and wasn’t really enamoured with much of what was in the news, until I saw a headline not unlike the subject to this blog. I couldn’t believe my eyes! A local council in the UK selling homes off for £1!
I was just about to reach into my purse and take out a shiny £1 coin thinking what I could actually do with it (other than by half a sandwich at the petrol station, if I’m lucky), when I saw the catch. It’s true you can buy a home at this price, but you need to prove you can renovate it to the standards set out by the local council.
It still seems like a bargain doesn’t it? However other than the renovations there are other stipulations, and in my opinion, rightly so. The council responsible for this is based in Liverpool and they’re offering 20 of these homes to local residents in the Granby area.
Once renovated, the new owners must live in the property for at least 5 years and no sub-letting will be allowed. I happen to think this is the best local Government idea I’ve heard in....well....forever actually. There are several reasons for this. The first being there may be people that either cannot afford, or are excluded from taking out a mortgage. These people have friends that can help, or already have the skills necessary for renovating a property.
Secondly, it builds moral and helps tidy up the overall look of this part of the world. Hopefully, boarded homes that look shabby will start to disappear, and the local people will once again begin to show-off a sense of pride in the area they live. They will also be given the opportunity to do something with their time they can reap the benefit from. It’s an unfortunate fact, but unemployment is high in the UK right now, and there are many hard working people that would welcome an opportunity to show what “they’re made of”.
The mere fact the council have thought about involving local residents first will stop property developers from moving in and making a huge profit. I salute this idea, and hope it really pays off for all those involved!
Author: Julie Coburn