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HomeLifestyleHomes Under the Hammer buyer boosts house value by £66k by spending...

Homes Under the Hammer buyer boosts house value by £66k by spending just £4k renovating

Homes Under the Hammer host Martel Maxwell was pleasantly surprised when she entered the home, which was located in a suburb of Wolverhampton. The home wasn’t run down at all and just needed a lick of paint and new fittings. Martel said: “I’m around two miles southeast of Wolverhampton City Centre to see a two-bed mid-terrace, which came with a guide price of £24,000 to £29,000.”

Upon entering the home, viewers got to see the property, which had a tiny sitting room just off of the narrow hallway.

Martel said: “Interestingly, your hall is almost as wide as the first room you come to, your reception wall.

“It’s only a stud wall, I’d be taking this down for sure.”

There was also a second reception room in the middle of the home, which led to the kitchen.

Martel said: “This [kitchen] is long isn’t it. The recurring theme of this property is that it is pretty narrow.

“When it comes to this property, what it lacks for in width, you step into the kitchen and it makes up for it in length.”

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Axel said the main “hump” of the project was putting in new ceilings.

But did he stay within budget?

He explained: “We spent around £3,500 to £4,000 max, but closer to £4,000.

“I think we’re quite good with budgeting. We don’t really like to step over that mark. We stuck to it.”

Axel spent around £63,000 in total.

Local estate agents revisited the property to share what price the house could now sell for.

One estate agent said: “To sell this property I’d market it at £95,000, hoping to achieve around £90,000.”

Another estate agent said: “It’s been done up nicely. I think I might be inclined to sort of suggest they ask £95,000.”

Axel said: “Oh, that’s higher than I expected, I’m happy with that.”

With a guide price of up to £29,000, the Axel managed to increase its value by a huge £66,000.

The top value could mean a £32,000 profit for Axel before fees and taxes are deducted.



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