Is it worth it?

What it is: A traditional Welsh farmhouse with an L-shaped range of stone outbuildings. Uninhabited for 15 years, it is now semi-derelict and in need of complete renovation. Dating back to 1870, the three-bedroom house with two reception rooms nestles in a hollow near Lake Alaw, protected from the bracing winds. In the centre of the island of Anglesey, it is five miles from the A55, 10 from Holyhead and 18 from Bangor on the north Wales coast. The property goes to auction on July 14 at the Carreg Bran hotel in Llanfairpwll.

The problems: Viewing is a bit hairy; the outside walls may be structurally sound, but the slate roof needs replacing, as will the floors, before beginning overall modernisation to include sinking a new septic tank, rewiring, replumbing, replastering and re-rendering. With a new bathroom and kitchen, the new owner will need to spend £50,000-£80,000 to make the former farmhouse habitable again. There are no period features on show, but the agent points out that’s not to say that there aren’t a few hidden fireplaces blocked up. The outbuildings could be converted to stables, holiday cottages, or an artist’s studio and, subject to gaining planning permission, it would be possible to extend out to gain a master bedroom suite and a further bedroom and living room.