Key Properties UK
Life Size Property
- 47 Winifried Street
This is a 3 bed detached house in Merthyr Tydfil
It is a detached house that has been refurbished poorly.
It was put up for sale for £130k and an offer of £110k was rejected on it before the owner ran out of money.
A smaller house across the street in not that good condition, terraced just sold for £115k.
It is over 100 sqm and we would recarpet, replace all the awful sockets with new modern ones, paint up and patch over where workmanship is poor and redo the bathroom.
You should get all of your money out on revaluation.
It is a £10k refurb
Money Left In
Months To 100% Return
It's hard to find a detached 100sqm detached house that is refurbished as a comparable so the comparables just prove area valuations rather than direct comparables...
Here's a link to it ready to sell in June (it says £115k as they dropped the price just before it was repossessed).
There are some comparables which show the area valuation to:
4 Bed terrace in reasonable condition, similarly sized:
3 Bed end terrace about 30sqm smaller but refurbished:
Refurbished end terrace about 30sqm smaller
A poor condition, small, 3 bed terrace that is the same price as yours is to buy!
A very nice 4 bed end terrace, if it was detached it would've been worth so much more.