PERFECT ABODE
Residential Flip
Beaumont
3 Beds
1 Bath
1 W/C
AN INTRODUCTION
AN INTRODUCTION
Purchase price: £425,000 | Buying Fees and Stamp Duty: £15,000 | Renovation: £105,000 | Profit: £72,000 (13%) ROC: 44%
KEY INFORMATION
Secured below market value the decision was made to do a live-in renovation in order to maximise profit. Requiring modernisation and with scope to add floorspace via an extension and/or loft conversion gave plenty of opportunities to add value.
THE PLAN
As with the first ‘flip’ we looked at who would buy this property and tailored the renovation to suit. The format was similar to Wooburn Manor.
Modernising the property and adding a rear extension of almost 30sqm on the ground floor allowed for an open plan kitchen/diner/living area with space left for a separate utility and WC. Bifold doors on both the rear and side of the extension made the most of the wrap-around garden giving a seamless flow from kitchen to internal or external dining.
Upstairs the floor plan was optimised to allow for two large bedrooms, one smaller bedroom and bathroom with wet floor shower and free standing bath. Clever and stylish storage systems were added to maintain storage space but yet hide unsightly chimney breasts.
The decision to not do a loft conversion was taken but the floorplan made consideration to any future development of this area.
Taking the leap
BECOME A MENTEE WITH PERFECT ABODE