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A detached property can bring lumpy exterior costs that a smooth annual maintenance percentage hides. Roof, drainage, boundaries, trees and outside surfaces deserve separate allowances even when the building currently looks sound.

Stress-test three figures before bidding: the expected valuation, a clearly disappointing valuation, and the lowest one you could survive without borrowing elsewhere or draining repair reserves. If the third scenario fails, either reduce the cap or retain the full condition.