Wooburn Manor

3 Beds

1 Bath

1 W/C

AN INTRODUCTION

This was our very first investment property. At this point we were still investigating which property strategy would best suit us so we decided to employ what we knew.

Purchase price: £375,000 | Buying Fees and Stamp Duty: £1,800 | Renovation: £48,000 | Profit : £67,000 (16%) ROC: 76%

KEY INFORMATION

Using Ricci’s experience and contacts within the building industry we knew that buying, renovating and selling would at least allow us to build further capital. We bought the property significantly below market value which allowed us to make a good amount of profit.

THE PLAN

When purchasing the property we looked at who would potentially buy the property once we had completed the work and put it back on the market. With this in mind, we decided on the renovation requirements to appeal to that target audience.

As a mid-terrace house with joist spanning from party wall to party wall, we were free to change the internal layout as we wished. We opened up downstairs creating an open plan kitchen/dining/living area that flowed out to a patio and garden via glass doors spanning the entire width of the property. This in turn resulted in an unobstructed view of the river at the end of the garden from anywhere within the house.

On the first floor any unnecessary cupboards were removed to maximise room sizes as well as create enough room in the bathroom for a 4 piece suite. Clever and stylish storage systems were added to maintain storage space. We then redecorated throughout and finished with landscaping the garden with an additional patio situated on the river's edge at the end of the garden.

Taking the leap

BECOME A MENTEE WITH PERFECT ABODE