Homes Under the Hammer host Martin Roberts was pleasantly surprised when he entered the home, which was located in the village of Ystrad, Wales, with a guide price of £23,000. It had three bedrooms and was situated on a fairly busy road. It was a traditional valley property with floors below pavement level.
Martin said: “From the outside, it’s very similar to many other properties in the Welsh valleys, but the moment you step through the door, you realise it’s slightly different.
“This is not your traditional terrace.
“There’s a little porch area which is good and it comes into this large living room.”
The living room had terrible damp problems due to a broken gutter outside.
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Nonetheless, John said he was “pleasantly surprised” when he got the keys to see the home.
There wasn’t too much work that needed doing to the flat, with John explaining that he was going to mainly plaster and redecorate the home.
To get the flat looking its best, John said he would spend no more than £3,000 doing it up.
He also had a timescale of just 10 days thanks to help from his friends.
Homes Under the Hammer revisited the property once the renovation work had been completed.
The living room had new carpets as well as a lick of paint.
The damp problems had also been sorted out.
John said there wasn’t much work needed to be done in the kitchen apart from a good clean as well as having the boiler and gas checked for safety.
The bathroom also needed a good clean and fresh coat of paint.
John said: “It’s been a pretty straightforward renovation to be honest, it was just a matter of blocking the hole up, plastering over.”
He also said it took him just eight workdays in total to get the flat ready to be rented out.
All in, the couple spent just under £2,000 on the work, under their £3,000 budget.
Including the auction fees, John and his wife ended up spending £20,500 altogether.
Two estate agents said they would potentially rent the flat out for up to £400 a month, a 21 percent yield.