Balcombe House
17 weeks after they began, the Fairall family's development is finally finished. This modest 3 bedroomed house has been transformed into a substantial family home.
The Fairall family kept a remarkably tight grip on their budget.
Original Budget
Bought house for £285,000
Renovation Budget of £108,000
Budgeted Asking Price of £415,000
Budgeted Profit : £22,000
Actual Budget
Labour and Materials : £56,500
Kitchen & Bathroom : £9,400
Front Decoration : £7,000
Furnishing & Decoration : £8,300
Professional costs & Repayments : £37,100
Final Renovation Budget : £118,300
It's only £10,000 over but their margins were so small to begin with, it's eaten up nearly half the profit they were aiming to make.
However, two months later they were able to sell the property for more than their original estimates, resulting in:
Final Profit : £83,000
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