Buying a house at auction: 'There have been instances of impulsive purchasers winning a bid and having to beg family and friends for the funds'

First-time property buyers are increasingly turning to social media platforms like TikTok and Instagram to showcase their renovations of distressed properties, often purchased under €100,000 at auction. However, they face challenges, including the complexities of auction processes and potential financial pitfalls. The article emphasizes the importance of obtaining professional assistance for rookies to effectively evaluate properties and make informed bidding decisions. While the idea of transforming an undervalued home is attractive, expert advice can help mitigate the risks involved in acquiring such properties.

Rookies looking to buy hidden gems for €100,000 or less at auction should seek professional guidance to navigate potential pitfalls and ensure sound decisions.

First-time buyers on social media often share their renovation journeys, highlighting the appeal of breathing new life into neglected properties.

Read at Independent