We made an additional £90k for the vendors

This home had been empty for several years. We funded the renovation works and achieved a considerable uplift for the vendors.

Original Valuation

£120,000

Refurb Cost

£52,480

New Valuation

£262,500

Owner's Profit

£90,020

About this Boverton, South Wales project:

The property was introduced by a senior associate at a nation-wide law firm. This family home had stood empty for a number of years. Using our Renovate For Sale scheme the property was valued, refurbished, and then sold for £262,500 which is £32,500 more than our original estimated value.

An offer was accepted within 9 days of the property going on the market, and the sale was completed within a further 70 days.

Schedule of works

Stage 1

House clearance.
Strip out works including removal of kitchen and bathroom.
Remodelling of ground floor.
Roof repairs.
First fix mechanical and electrical.

Stage 2

Plastering
Installation of new windows and doors.

Stage 3

Fitting of kitchen and bathrooms.
Flooring installation.
Decorations.

Stage 4

Front and rear garden works.
External decorations.
Installation of new garage door.

The outcome

Original valuation:

£120,000

Cost of works:

£52,480

New valuation:

£262,500

Owner's Profit

£90,020

Increase in Value

118.75%

On completion of the refurbishment works, the property sold for £262,500, which is 118.75% more than the original valuation. We made the owner a very healthy £90,020 profit, which was an incredible outcome for a property that had been empty for a number of years beforehand.

It was on the market for £250k, already a significant uplift in value and profit, and it then sold for £12,500 more than asking price. The owner was absolutely thrilled!