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There seem to be a lot of reasons why it's such a low price. If you don't have the building skills to achieve it yourself it makes it difficult to strike a balance with someone who does.
My main concerns would be the integrity of the slope it's built on and it's connection to other buildings in the proximity.
In the past when I've found somewhere to dream about doing up there have always been some big reasons why the property isn't really cheap.
That part of the coast is very nice though and the view would be lovely when it's all completed. I'd want to know roughly how much you would have to spend before you can sit on that balcony because even if it's mostly plaster and paint I'd expect some land/rights/access issues there.
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Do it.
My folks bought their first place in France for 200.000Fr. 100.000Fr mortgage on the property. £10k remortgage on their UK home. Place was a wreck once you started looking, cost loads over the years, and had several fundamental flaws.
By the time they sold it they just about broke even so not a sound financial decision. However, it was a wonderful home and great experience. Sometimes it's important to remember home and life is meant for living.
I want to buy somewhere cheap by the sea on the granada coast. I saw this. A town I know a little in an area I know pretty well. It is, shall we say, sleepy and rough around the edges. However it is on four absolutely stunning rides, either into the hills or along the quiet coast road, and it’s as cheap as I could find, even then it would be too much for me to take on alone. Anyone with building skills wanna go twosies? It needs some work(!) Maybe the price is negotiable, currently it is 19,000€
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