Did the developers stick to their projected budgets, or did they overspend?
Bought for: £248,000
Renovation budget: £75,000
Actual spend: £77,000
Robert got the project finished within his four month schedule and only went a couple of grand over budget. However, the planning problems and layout issues meant that the property was only valued at around £300,000. It's more than likely that Robert will make a loss on this redevelopment.
Renovation budget: £50,000
Actual spend: £63,000
Even if Diane had only spent £5,000 dividing the flats, and sold the new one without any improvements, it would have been worth £150,000. Refurbished, it's been valued at around £217,500.
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