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4Homes
Episode 1 : Balcombe and Hertford
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Budgets

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



Hertford Cottage

12 weeks after they set out, Karen & Ben have finished their property. They've turned this Victorian cottage into something quite special.

By following Sarah's advise they have been able to haul the property into the 21st Century without neglecting its period charm.

Original Budget
Bought house for £170,000
Renovation Budget of £20,000
Budgeted Asking Price of £210,000
Budgeted Profit : £20,000

After adjusting their original plans, the costs of renovation increased.

Final Budget : £34,000

After the property was valued at up to £215,000, Karen and Ben were actually able to find a buyer willing to pay £240,000
Final Profit : £36,000


First Time Buyers Read our guide to getting on the property ladder house
house sale Buy to Let Bubble Can the boom in Buy to Let property be sustained?

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