Homes Under the Hammer buyer triples house price by spending just £9,000 – pictures
Homes Under the Hammer: Sunny reveals house transformation
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Homes Under the Hammer host Martel Maxwell was pleasantly surprised by the three-bedroom home when she showed viewers the property before it went for auction. The 1950s home, which was located in Bilston, a market town three miles from Wolverhampton, needed a complete transformation because it was dated both downstairs and upstairs. Martel said: “I’m on this tree-lined but fairly busy road to see a three-bed semi-detached house which came with a guide price of £50,000.
“The good news is, what with it being quite busy, it’s set back with its own driveway, its own garage and a nice front garden.”
Upon entering the home, viewers got to see the state of the home, which was slightly dated.
The downstairs was spacious, with a separate dining room which Martel said could be turned into an open-plan living space.
The home also benefited from a downstairs cloakroom, something homebuyers pay a premium for.
Martel said all the house needed was a “little TLC”.
The presenter added: “I tell you what I do see upstairs is polystyrene ceiling tiles, once all the rage, but now seen as the fire hazard that they are, and they have to come down.”
A local property expert visited the property before it headed for auction and explained that the property could fetch around £140,000 once renovated.
Despite the property needing a complete renovation, buyer Sunny was up for the project.
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He purchased the property for £121,000, a huge £71,000 over the guide price.
After Martel asked what attracted him to the home, Sunny said: “The house outside looks really nice and there’s a drive in the front and a really big garden in the back.
“When I walk in, it reminds me of my first house and I felt really nice.”
With a budget of £8,000 to £10,000, Sunny had big plans for the home.
He wanted to change the layout of the downstairs, knocking down the partition wall between the kitchen and dining room.
Upstairs, he had plans to completely rip out the bathroom and take off the hazardous ceiling tiles.
Homes Under the Hammer returned 10 weeks later to see the renovation work.
Martel said the new front reception room was “crisp” and “clean” with a new lick of paint on the walls and new laminate flooring.
In the rear of the property, Sunny had ripped out the diving wall to create a stylish open-plan living space.
The kitchen was fitted with new modern grey cabinets, with plenty of cupboard space.
Upstairs, the bedrooms had lost their polystyrene tiles and the bathroom was fitted with a completely new set, including a bath.
Sunny said: “The most difficult was to knock the wall off in the kitchen and the issues we had with the pipe work, because we had to rearrange them and the gas work, we had to ring them.
“It took us another day to do it.”
Although Sunny managed to fit the majority of the home himself, he consulted professionals when it came to do the electrical and plumbing work.
But did he stay within his budget?
He explained: “I was expecting to spend about £8,000 to £10,000, and in the end I ended up spending £9,454.”
With a guide price of £50,000, local estate agents revisited the property to share what price the house could now sell for.
One estate agent said: “To market this property for sale, I’d be looking at £145,000.”
Despite Sunny only making a pre-tax profit of around £15,000, he has almost tripled the house price value.
However, Sunny plans to rent it out, which could fetch around £675 per calendar month.
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