Carmelite

5 Beds

5 Bath

1 W/C

AN INTRODUCTION

Our second residential to HMO conversion was purchased 2 months after our first.

Purchase price: £150,000 | Buying Fees and Stamp Duty: £5,450 | Renovation: £128,000 (Including furniture) | Revaluation: £340,000 ROI: 73.4%

KEY INFORMATION

Right in the covid era, which again caused the build costs to increase by £20k. Targeting a specific type of property in a defined area would allow us to repeat the same renovation as our first project that was currently under construction and prove a repeatable model was possible.

THE PLAN

In order to get the most from the space available it was necessary to take this project back to brick. This would allow the property to go from 2 bedrooms to 5 ensuite bedrooms. The property was completely emptied leaving the four walls and roof. The floors were then added with 2.3m ceiling heights rather than 2.7m.

This along with a dormer conversion at the rear created enough room for a 2nd floor. Once we had that, it was a matter of adding the stud work to achieve the desired layout. A kitchen / diner / communal area and bedroom 1 on the ground floor, 2 bedrooms on the 1st floor and 2 bedrooms on the 2nd floor.

Taking the leap

BECOME A MENTEE WITH PERFECT ABODE