Homes Under the Hammer buyer brings flat ‘back to life’ for £7k – boosting value by £55k

Homes Under the Hammer: One-bed Portsmouth flat transformed

We use your sign-up to provide content in ways you’ve consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info

In a recent episode, the Homes Under the Hammer buyer managed to change a one bedroom flat into a two bed, boosting its value by £55,000. Presenter Martin Roberts said: “Well if you’re looking for a seaside location with bags of maritime history, this is the place to head for. On a busy main road, good transport links though, is the property I’m here to see.

“It’s a one-bedroomed first-floor flat, guide price £90,000.”

Upon entering, viewers got to see the inside of the flat.

It had one bedroom, a workable kitchen which was slightly dated, and a bathroom.

Martin added that the flat had a really nice living space, with little work to do.

The bathroom was slightly dated but everything was still workable.

Who purchased the property when it went to auction?

Purchasing the flat for £5,000 less than the guide price was Layla, who has renovated many properties over the years.

Martin met her back at the flat to find out the plans for the home.

Five ‘energy-guzzling’ household appliances [COMMENT]
Homes Under the Hammer buyers renovate two flats in 3 months [VIDEO]
How to keep hydrangeas alive in the heat [EXPLAINER]

Layla said: “What appealed with this particular flat is the potential.

“At the moment, we’ve got quite a lot of wasted space.

“What we’re looking to do here to improve this flat is to knock through this wall here and make an open-plan kitchen and lounge.”

A new suite in the bathroom would also be added as well as new paint throughout.

With a £5,000 to £6,000 budget, Layla had hoped to get the work done in 10 weeks.

Homes Under the Hammer revisited the flat 12 weeks later to see the finished property.

Martin said: “The use of a light colour palette has brought this place back to life.

“The new carpet throughout gives it a real homely feel.”

In the living room, a new kitchen had been added to create open plan living.

The kitchen was sleek and modern with cream cupboards and wooden worktop.

In the end Layla spent just £7,00 on the refurb of the flat.

However, Layla works for a company who buys kitchens and bathrooms in bulk helping to keep the cost down.

A local estate agent visited the property to see what he thought of the property now.

The expert said: “Two bedrooms will always sell better than one.

“It’s a real good improvement to have made.

“I think this property will sell for something in the region of £140,000.”

This means Layla has managed to increase the flat’s value by a whopping £55,000.

However, the homeowner plans to keep the flat in her property portfolio to rent out.

Source: Read Full Article