
Our first renovation project was a bungalow on a former council estate. We researched the supply and demand for different property types in our local area. We concluded that we needed to focus on sourcing a two-bedroom bungalow because the data showed that supply for this type of accommodation outstripped the supply.
During this project, we've learned some invaluable lessons on finding good trades, project managing, dealing with unexpected difficulties, and marketing our properties. We completed this project in six weeks and it was sold on the first viewing. The successful completion helped us grow our confidence to build upon what we had learned and we never looked back since.
Purchase Price £183,000
Renovation works £14,950
Legals and Misc £3,000
Sold Price £225,000
Gross Profit : £24,000