On Sarah’s final visit, the penthouse is far from finished.
The narrow communal stairway, which, in the absence of a lift really needs to make an impression, is nowhere near the standard needed. But the fixtures and fittings that are in place are of a great standard, and, if he finishes the project, he could still make a big profit.
| Original budget: | £335,000 |
| Entire property bought for | £1.41 million |
| Permission to build penthouse on top: | £50,000 |
| Budgeted asking price: | £600,000 – £800,000 |
| Budgeted profit: | up to £415,000 |
| Projected budget at Sarah's last visit: | £365,000 |
| Valuations: | £641,000 |
| FINAL PROJECTED TOTAL | £226,000 profit |
Miles has decided to rent out the penthouse for £2250 a month. Two years later, he’s had an offer of £600,000, which, if it went through, would give him a gross profit of £182,000.
Gareth’s once-tiny cottage now makes the very best of its stunning location. The extension has almost doubled its size and the interior is a beautiful example of a modern house. But access is still a major problem, and he came in rather over budget.
Budget: £70,000
Bought for £85,000
Budgeted asking price £385,000
Budgeted profit: £230,000
Actual spend £136,000
Valuations: £365,000
FINAL PROJECTED TOTAL
£144,000 profit
The latest analyses from 4Homes' property experts
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