Buying for the first time

This told me that there was an opportunity to double the headline purchase price.  There would have been other buying costs incurred, and our True cost to completion calculator indicates what these would be.

Now here’s the main stumbling block.  To double the value of what I saw at £280,000, the flat would need to be extended to create larger living space and another bedroom, as well as modernising it.   That would involve architects, builders, a project manager, and a fair bit of money.  For someone with a developer mindset and skills, I reckon around £140,000 would be needed.  For a pure first time buyer with parental support, or a friendly banker (as otherwise, this would remain a pipe dream), around £200,000, with the correct mortgage types and insurance priced in.

Building works are also very stressful.

This is an extreme example that I wouldn’t recommend any true first time buyer contemplating unless they had support from experienced people.  

What about increasing the value if your home by 10% however? This could be achieved if you spot an opportunity, and buy at the right price, and done right, might not cost more than £2000.  Most people can do this, and do so easily.

A DIY redecoration or a garden tidy/design could deliver this - yes, you’d be amazed!  The key, as said, is first spotting that opportunity.

Our Accelerator programme factors this in, and also teaches you things to look out for; things you should bear in mind if you want to increase the value of your purchase.