I have just fully refurbished a 1,760 square feet property I recently bought from auction. The refurb cost me just under £12,000. Here are the approximate figures:
Howdens kitchen, (appliances from the Internet), new lino, tradesman to fit =
£3,100
New bathroom - 6x bathroom panels, new lino, new taps, handyman to fit = £1,250
New carpets and underlay from the Internet £1,750, plus £450 fitting = £2,200
New decoration = £3,250
General materials, furnishings, curtains, Victorian fireplace from eBay = £1,400
Handyman for new locks, a bit of electrical work = £720
PURCHASE PRICE: £100,000
Refurbishment: £12,000
Bridging loan costs, solicitors, etc: 5,500
Auction costs and associated costs: £4,000
CURRENT VALUE: £190,000
I can source you a great below-market property and do the same thing for you. Visit www.yournextpropertyinvestment.com and give me a call on 07825 327552 if you have any
questions.
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