Homes Under the Hammer buyer boosts property value by £75k in ‘modern’ but ‘simple’ refurb
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Homes Under the Hammer visited Coventry in a recent episode where presenter Jacqui Joseph showed viewers around the property on offer. Jacqui said: “I’m a few miles from the centre of Coventry in this residential area close to all the local shops and amenities. Now, the property I’m about to see is accessed through this very long pathway set off from the road.
“It’s a three-bed end-of-terrace that had an auction guide price of £99,000 plus.”
The front garden needed work and inside viewers got to see the state of the home.
The downstairs consisted of a downstairs porch, large hallway, kitchen and living room.
Jacqui said: “The kitchen is a decent size actually, quite spacious but it’s dated.
“I’d strip it out and start all over again.”
The home also had double glazed windows and central heating.
However, there was damp in the kitchen which needed to be investigated.
The living room overlooked the garden and was a decent size for a family.
Upstairs, there were three bedrooms, two were double and one was a single.
The bathroom was extremely dated and needed a new suite.
Jacqui said: “I do see signs of damp and mould on the ceiling but this place has been empty for quite some time.”
So who purchased the property when it went to auction?
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The lucky bidder was Madrine, who purchased the property for £125,000.
The property owner said: “I’m going to do a full refurb…we’re going to be re-plastering all the walls, changing the kitchen, new bathroom, it’s not a bad property.
“There are things need to be modernising. I think the external work is worrying me a little bit.
“The back garden is a matter of clearing it up, with new fencing, tidying it up basically.”
Madrine said the layout was going to stay the same but the interior would be a “modern look”.
With a budget of between £15,000 and £20,000, Madrine said she is happy if she goes over due to the external work.
Homes Under the Hammer revisited the home when the renovation work had been completed.
The home had a modern grey and white kitchen with new flooring throughout.
Madrine had also modernised the living space with a fresh lick of paint.
A new kitchen had been installed too with grey tiling.
The kitchen was now smaller because Madrine took some of the space to create a useful downstairs toilet.
Upstairs, bedrooms had been fitted with new carpets and the bathroom had a brand new stylish suite.
Madrine said: “I must admit I underestimated the work that was going to be here.
“It has come to £28,000, but a lot of it has come from the material costs.”
How much would she get if she sold the property?
One local estate agent said: “What a transformation, looks so different since I last came here.
“It’s just nice and simple.
“In my opinion, the property would be worth around £200,000 if it was going on the sales market.”
This means Madrine has increased the property price by a huge £75,000.
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