Wolverhampton Valuer achieves Celebrity status
Wed 07 Dec 2016
DB Roberts are no strangers to the TV series, Home Under the Hammer, and it was lovely to Kevin on this week’s show – explaining the benefits of good sized bedrooms, a lovely fitted kitchen – and of course – the ‘big plus of having a downstairs toilet’.
The property in question was bought for £92,000 and after considerable hard work and an investment of £10,860, did the property purchase pay off?
Well the good news is Kevin suggested a marketing price of £115 - £120,000, which means a nice return for the father and son investors.
So no drama here, but is it always this easy? We have a few Top Tips for anyone considering investing in a property – for the purposes of selling on:
- Avoid listed houses or those in conservation areas
- Ask our opinion of the likely value of the finished project, but remember that the market can fall
- Avoid quirky designs and interiors as these will limit your sales market
- Keep your project in context – a street of three-bedroom homes at £100,000 each will not be where buyers will look for a five-bedroom house at £250,000
- Structural work rather than cosmetic changes are key. Loft conversions, digging out cellars and building extensions are the real value-adding winners – but it costs to do it properly. Make sure you know what consents you need – before you start!
- If there is space for a garden or an off-street parking space without diminishing the look of your home, get permission for one. Successive surveys show garages and off road parking improve value and saleability
- Don’t over-specify: taps from builders’ merchants are cheaper than designer ones
- However, pick the best kitchen you can afford while keeping your outlay in proportion to the home’s value
- Buyers prefer neat, well maintained gardens that they can change when they move in, rather than over-elaborate or landscaped areas
- Start marketing before completion as a buyer may want to add their own touch