How a well-executed property refurb can double its market value even in this climate!
We wanted to share with you how refurbishing a property can increase its market value from £40,000 to £80,000. Take this two-bedroom traditional mid-terraced house in Padiham, Lancashire, which we were commissioned to refurbish for a property investor client.
The modern and stylish refurbishment included altering the layout, moving the original bathroom from the ground floor to upstairs and creating a large walk-in pantry and utility room in its place. Other major improvements included rewiring, installing a new kitchen & bathroom, creating a new room for the bathroom upstairs by partitioning off the master bedroom, decorating and fitting new carpets and floor coverings. The total cost of the refurbishment was £25,000. The property was purchased at £40,000 and went on the market for double that at £80,000. Better still, an offer was accepted WITHIN 2 DAYS, breaking the seal on this street, even in a market suffering from uncertainty surrounding the Coronavirus!
Property owner, Amanda Clark said,
AIR exceeded my expectations, this house looks fabulous. I took their advice with regard to the finish i.e. wallpaper, tiles, the kitchen and staging the property for sale too. I’m really pleased with the result, the property really stood out which is why I got the price I wanted so quickly.
Take a look at the ‘before and after’ photos below and let us know what you think!