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Homes Under the Hammer buyers add £43,000 to property value by adding another bedroom

Life & StyleHomes Under the Hammer buyers add £43,000 to property value by adding another bedroom

The home was situated in Dover, great for those wanting to live near the coast. However, the two-bedroom terraced home was in dire need of renovation, and with a guide price of £110,000, it was sold to father and son team Frank, Adam and Daniel for £130,000.

In comparison, the average house prices in Dover at the moment are £239,017, according to Rightmove.

On the episode of Homes Under the Hammer, presenter Dion Dublin was shocked at the entranceway to the home, which had completely rotted away.

He said: “Now I’m thinking to myself, could you somehow fit a bathroom off one of these bedrooms, to create a third bedroom?

“The third bedroom would be the existing bathroom right now.”

READ MORE: Jo Brand has ‘brilliant time’ at home in quiet Kent town

A recent study by Rightmove unveiled that buyers pay almost £68,000 extra to move from a two-bed property to a three.

This is due to the demand for bigger homes rising during the pandemic, with many wanting more room for a home office.

One local estate agent said: “Well I am really impressed, it is so nice to go into a place where somebody has really taken the time to do a good job.

“They’ve done everything, which is first class. I can’t talk so happily about it.

“I would market this property at £190,000.”

The other estate agent said the home could sell for as much as £200,000.

If the family can achieve the higher valuation of £200,000, they could make a pre-tax profit of £43,000.

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