16/02/2022
So, how did we achieve a 275% ROI?! 😱🤯
Originally the house was a 2 bed with a HUGE master bedroom that covered 25% of the entire square meterage of the house!
Our plan was to split the master bedroom into two rooms. This required knocking out part of the wall, removing the window to add two individual windows for each room and building a stud wall to separate the two new rooms.
Before any work commenced we looked at other houses on the street to see 1; if there were any 3 beds - if so, look at the layout and 2; would it be cost effective to undertake. We also spoke to agents to see the potential value increase (rental and valuation) a 3 bed would create. There were 3 main findings from our research;
1- The rental demand for 3 beds was high and there was little stock available
2- Tenants would stay for longer reducing void periods
3- Finically we would benefit from higher PCM and greater uplift = greater ROI ✨
Below we outline the cost of the work;
Carpentry £252
Electrics £350
Plastering & Decorating £500
Windows £560
Skips £200
DISCLAIMER: Some of the work / costs are low as we did all the carpentry and decorating ourselves so make sure you factor in labour costs if you are to do something like this too 👊🏼
