Finding rubies in the rubble

Are you one of those intrepid home buyers who dreams of finding a run-down "older" property in your favourite area and restoring it or modernising it to make it your dream home?

In that case you probably won't mind some mess or clutter or grime when viewing homes for sale - or any of the other details which would put most potential buyers right off. You will recognise that these superficial factors could just be hiding a real housing gem - and the "bargain" you've been searching for.

It is of course true that a really grungy home can indicate a long-term lack of essential maintenance and hefty repair costs for any new owner. But quite often, mess will just be an indicator of an unplanned and rushed sale, where a family has had to relocate really quickly, for example, or where the owner has died suddenly and an executor is disposing of the property.    

And astute buyers on the hunt for a good fixer-upper will always take a second look to see just what a lifetime collection of furniture and memorabilia, piles of paperwork, dark musty carpets, cracked lino and dingy curtains might be hiding. 

If you're among them, these are the indicators that you might just have found your rare and precious ruby:

• Good 'bones' or basic structure. No bad cracks, serious roof leaks or rising damp. If you like the property but aren't sure about the structural integrity, it's really worth paying to get it professionally inspected before making an offer.

• Well-proportioned rooms and a good floor plan. Forget any furniture, curtains, carpets and paint colours that are not to your taste and use your tape-measure to discover the real dimensions of the rooms.

• Good infrastructure. Your home inspector should also check the electrical system, plumbing and any gas installations and make sure the owners (or the executor or the bank, in the case of a repossessed property) can produce up-to-date safety compliance certificates for these. In some areas, you will also need a borer-beetle certificate. 

If all three of these elements are in place and the home is in a good location, you should make a quick decision in favour, especially if the asking price is already below current market value for the area.

If it is not, you should feel free to point out that it will take a lot of work to get the home into the same pristine condition as comparable properties on show elsewhere in the area, and make a lower offer based on the cost of the materials and labour that will be needed.

Either way, you will often be able to acquire more home than you expected to get for your money - and have the opportunity to polish up a gem that will compensate you well for keeping an open mind about a property that was less than perfect, and for your willingness to renew its shine.