Homes Under the Hammer: Stunning property transformation
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
Homes Under the Hammer presenter Dion Dublin was visiting a property in Skegby, a village and former civil parish, now in the unparished area of Sutton in Ashfield, Nottinghamshire. Surrounded by lots of amenities and transport links, the village is a great place to pick up an auction property. Dion said: “I am on a residential estate in Skegby. I am here to see a semi-detached house that has two beds and went to the auction with a guide price of just £45,000.”
Dion said there was a reason the guide price was so low and headed to the rear of the home to investigate.
He added: “I’ve been in some overgrown back gardens in my time but this one actually might just go to the top of the chart.
“I can’t even see where the boundaries are. I don’t know how big it is and I don’t know how deep it goes. There’s a fair amount of work that needs to be done in here.
“Now, that low guide price of £45,000, there’s a reason for that. This house has had an extensive water leak which has left the house unsafe for us to go in.”
The council had placed a prohibition order on the property which meant it was unsafe for human habitation.
Opening the back door to get a glimpse of the home, viewers could see the bare pipes, caved ceilings and major water damage.
Dion said: “There’s a lot of rubbish that’s been left in here as well, and it’s not very inviting.”
A local property estate agent visited the home to see how much the house could be worth after renovation.
4 methods to prevent rats entering your home – ‘get prepared’ [COMMENT]
‘Best time’ to prune winter-flowering shrubs [EXPLAINER]
‘Small changes’ to ensure the ‘survival’ of your houseplant in winter [INSIGHT]
The expert said: “The house is of traditional build. It looks nice and solid on the outside. There has been some significant damage that has made the house uninhabitable.
“In my attempt to inspect the property, I’ve tried to glean as much as I can. It’s in a state of disrepair.”
The expert said the semi-detached home could be worth around £135,000 to £140,000. Who were the lucky buyers who purchased this property at the auction?
The successful bid of £94,500 was made by Saeed and his business partner Rob who have been in the property business for over 20 years.
Meeting Saeed, Dion wanted to find out the plans for the home. The homeowner said: “It’s [the house] is a mess. I didn’t realise how bad it was, but it’s nothing that can’t be dealt with.
“We’ve dealt with worse before. I didn’t realise there was so much stuff in there so the first thing to do is clear it out.”
In terms of renovating, the homeowners said they would start from scratch and put new heating in as well as clear both the front and back gardens.
The business partners had a healthy budget of £35,000 along with a six-month timescale to get the work done.
Homes Under the Hammer revisited the property 13 months later to see the completely renovated home.
The entranceway of the home now had a neutral colour scheme with wooden flooring and white walls.
The large living room consisted of a fireplace as well as the same wooden flooring, which ran throughout the downstairs of the home.
Everything was brand new and with a tenant already moved in, it looked nice and homely. The kitchen was fitted with brand new appliances and had grey worktops as well as stylish white cupboards.
Rob explained: “When we first had the keys, we were shocked because you couldn’t actually move in the property at all.
“There were no stairs in the property, they had fallen through and it was full.” The homeowners had a new boiler as well as new electrics and they had completely rewired the home.”
In the end, the business partners ended up spending £25,000, under their planned £35,000.
They did let their timescale slip, leaving the property to sit on its own for nine months. However, once Rob and Saeed got stuck in, they managed to fully renovate it in just three months.
The same estate agent who visited the home before it was sold revisited to share how much he thought it could sell for if they were to put it on the market at some point.
The expert said: “If I was going to put this property on the sales market as it is today, I’d be looking at a valuation of £160,000.”
This means the pair have managed to boost the home’s value by a huge £65,500.
Source: Read Full Article