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Auction PropertyBuy to Let & LettingRenovation Diary

From OH NO To OH WOW: The Easy Buy To Let Property Experiment (Week 5: It’s A Wrap!)

Buyers remorse?  I felt a twinge or two.

Just 5 minutes after collecting the keys to my new property, I attempted to open the window for some fresh air.

broken window

Yes, the latch came off in my hand.

Not quite the start to the renovation project I was expecting.

But then the “easy” buy to let property experiment has not had any of the starts I expected.  For the first time in my life, my property purchase had been down-valued (for reasons that were never explained to me) and had already put my refurbishment budget in the red.

Now my Super-Scrimpers budget was about to be blown apart by the replacement windows.

I was pretty frustrated to say the least.

The project I thought I was going to do – and the reason why I bought the property was NOT going to happen in any shape or form. There was going to be NO fancy kitchen/diner, NO upstairs bathroom, NO downstairs cloakroom, NO proper attic conversion and NO to most things I thought I was going to do – and which I had been looking forward to.

Everything I had originally planned, had gone to pot.

But, I guess that’s the nature of the beast.  Shit happens.  Often.

You want to do a good job – but buy to let is a business.

So I screwed up the original plan and started again.

Unbelievably for the first time ever, the renovation has completed quicker than I planned and, fingers crossed, has come in at an acceptable budget given the situation.  I’ll post all the before and after photos plus all the sums involved shortly, but for now, just take a look at the difference the new windows have made:

I think it’s a definite case of woe to wow!

Here’s the wrap up video and full property tour:

14 comments
    1. Sam

      Thanks – yes give me a few days to put everything together and will let you know. You want whole cost including purchase price of house, deposit etc etc??

      1. Lee

        If you don’t mind sharing? Would understand if you were reluctant to though – im just being noesy! its a blog post all on its own I suppose, I really like analysing the figures to see how a deal breaks down.

        1. Sam

          Yes, I was going to do a post all on it’s own so you can see how the sums break down. While I am tallying, I will also write a post on how I managed to finish the project AHEAD of schedule! There is a first time for everything eh?!

  1. wendy

    i recommend adding a handrail to those last few steps at the bottom of the staircase, where it turns 90 degrees. it looks like an accident waiting to happen, especially where small children are involved.

    overall, i think you did a wonderful job remodeling the house. i especially like what you did to the front exterior. well done, sam!

  2. Matt

    Interesting to have read the story, Sam :-).

    Would you be offended by a detailed critique and a different opinion here, or would you welcome that?

    (In a nutshell, I doubt whether this will rent as a family let, for several reasons – one of which is the long drop and another may be lack of storage and general space).

    Rgds

      1. Matt

        Hi Sam.

        To me it more has the feel of a let for a young prof. couple or dinkies looking at the various videos.

        Things like where will the kids’ bikes be stored, a place for the separate washer and dishwasher a family would need, a full size fridge and freezer , provision for drying lots of washing indoors etc. A big toy cupboard. Hats and coats and wellingtons and pushchairs and paddling pools.

        That sort of stuff, and the huge cupboards and closets it needs.

        1. Sam

          Hmm – it does have an under the stairs cupboard and plenty of storage space in attic. Also, there is a rear yard where you could put shed/keep stuff. There is space for full size fridge/freezer. I was thinking the new tenant would opt for washer/tumble in one. Agreed about dishwasher – I did want to leave space but was unhappy to remove another base unit. We will see then what happens… 🙂

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