![]() ![]() The cookie is used to store the user consent for the cookies in the category "Analytics". This cookie is set by GDPR Cookie Consent plugin. These cookies ensure basic functionalities and security features of the website, anonymously. Views expressed in our articles do not necessarily reflect the views of Guardcover Unoccupied Property.Necessary cookies are absolutely essential for the website to function properly. If you do not plan on living in your new property or will not have it ready for habitation for a while, consider researching what insurance is available for you and your unoccupied property, and exactly what it covers you for, to ensure it’s right for your needs. There may be conditions attached with the insurance policy, such as the requirement to visit the property on a regular basis or keep heating on at a minimum. Many home insurance providers will only cover an unoccupied property for up to 30 or 60 consecutive days, however, it is possible to buy specialist unoccupied property insurance that will offer protection for a longer period of time. Unoccupied and general buildings insuranceįurther nuisances common with unoccupied propertiesīecause of the lack of human presence, unoccupied properties are prone to other common problems, which should be factored when considering purchasing an vacant property.Investing in the appropriate inspections. ![]() Researching legal and building restrictions (as mentioned above).Other factors to consider before purchasing an unoccupied property are: Is the property connected to utilities such as water, gas and sewerage and are there any restrictions on renovating or demolishing the property?.Is the property weather and watertight?.How long has the property has been vacant for?.Some important questions to ask before purchasing an unoccupied property could be: A restrictive covenant could be in place, which can prevent property owners from doing certain things to the property.īuying a vacant property can have its risks.Before the property can be habitable for residential or commercial tenants, the property must meet the legal requirements for it be rented or leased.Major work may not be able to be carried out on the unoccupied property until the land has had an environmental survey.Listed buildings or properties of historical significance can often carry tighter restrictions. Special permission to be grated for renovations, extensions, or demolition of the unoccupied property.When considering purchasing an unoccupied property, it’s important to note some of the potential issues you could face, including: However, purchasing an unoccupied and abandoned property may not be as straight forward as purchasing an occupied residential or commercial property. Unoccupied or abandoned properties are not as uncommon as you may think, and according to October 2020 figures from the House of Commons Library, there were as many as 648,114 empty properties in the UK, with 225,845 classed as long-term empty properties (empty for longer than six months).īut does this mean you can purchase an unoccupied or abandoned property? The answer is yes, you can. ![]()
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