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Homes Under the Hammer visited Lincolnshire in a recent episode, where Martin Roberts viewed a property with a “crusty and rotten facade”. The spacious mid-terrace building had a very low guide price of just £20,000-£25,000, which the buyer, Dan, purchased without even viewing it beforehand. Having simply “looked through the window” of the property prior to making the winning bid at auction, the father-of-one had no idea what was in store inside the house.
On his first visit to the house, Dan revealed to the presenter, Martin Roberts that he owned the property next door to his blind auction purchase.
He paid just £48,000 for the mid-terrace in Grimsby, making it a bargain investment to add to his property portfolio.
While Martin was “not expecting much” for the low guide price, he was pleasantly surprised to see the spacious interior.
Despite being in a poor state, the house had strong potential to become a cosy family home.
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Throughout the house, the remnants of paint and wallpaper stained the walls while the floors were all bare concrete.
The bathroom and kitchen fittings needed replacing along with new plastering, electrics, rendering, and plumbing.
Having worked in property renovations for 13 years alongside his brother, Dan hoped to complete the project in around four months.
With a budget of £20,000, he planned to replace the windows and doors, do a full damp course on the property and finally, add a fourth bedroom to make use of the space.
Ten months later, Homes Under the Hammer revisited Lincolnshire to see how Dan got on with the project.
Presenter, Martel Maxwell, noted that the “old, crusty, rotting facade” was “shiny and new”, with modern windows, doors and a clean, cream-coloured exterior on show at the front of the property.
The living room had a complete makeover, with an open-plan dining room and kitchen in place of the boxed-off rooms at the rear of the house.
A sleek family bathroom replaced the old utility room, and upstairs, the rundown family bathroom had been removed and transformed into a fourth bedroom with a small WC next door.
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The smaller bedrooms and two larger ones had been brought up to spec with chic grey carpets and clean white walls.
Outside, the cluttered and off-putting garden space was replaced with a new fence and fresh turf for future owners to enjoy.
In total, the renovation came in at just under £25,000 – around £5,000 more than planned.
A local estate agent returned to the property to see the finished result in January 2022.
He noted that the fourth bedroom had undoubtedly added value to the house, estimating a sale price of £135,000 on the open market.
After accepting an offer of the same value, Dan secured a pre-tax profit of £62,000.
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