04/09/2026
Sometimes the most important part of buying a property is finding out why you shouldn’t.
We went back to this auction property yesterday, this time with our trades.
Not because we’d suddenly discovered a major problem, but because when a project is this extensive, we want to get as close to the real costs as possible before making a decision.
Almost everything needs doing.
New heating.
New electrics.
Plastering throughout.
Bathroom.
Kitchen.
Flooring.
And yesterday we also identified new guttering and fascias that hadn’t been in our original budget.
The 40-year-old warm air heating system was one of the biggest questions, so our plumber walked it with us while we considered the most economical solution.
Our plasterer also came along to give us a much more accurate idea of what this three-bed house will actually require.
Because “roughly £29k for the refurb” isn’t good enough when someone else’s money could be invested alongside ours.
Our current numbers suggest a purchase of up to £88,350, with around £48,500 in other costs, an expected resale of £160k–£170k and a projected minimum profit of around £23k.
But that margin is tight.
One significant surprise could eat into it very quickly.
And that’s where we’d walk away.
Being excited about a property isn’t enough. The numbers have to work.
For us, protecting capital is just as important as growing it.
Would you take this deal in a popular area with that margin, or walk away?
