Conversion of a 4 bed semi detached house into a 6 bed, 5 bath quality shared house for working professionals
Project: Glover
Numbers:
Purchase
Refurb & Furnish
Other costs
All in
Revaluation
£100,000
£77,000
£12,000
£189,000
£190,000
Monthly rental
Expenses incl mortgage
Monthly cashflow
Gross yield
Return on cash left in
£2,800
£1,600
£1,200
17.7%
31.0%
This property used to be a large family house that had been slightly extended on the front and back which made it just a bit bigger than all other houses on the street.
This small difference to other houses meant a lot for us, as it just made it big enough and ideal for a shared house for 6 people!
We have largely kept the original layout of the house to keep our conversion costs down.
The property is ideally located within walking distance to a conservation area with pubs and bars, which makes it very attractive for tenants.
Works carried out:
Damp proof course
Full electrical rewire
Relocation of gas and electric meter
Full interlinked fire alarm system
Full central heating system
Plaster throughout
Relocation of kitchen upstairs
4 en-suites
1 shared bathroom
Replacement of windows and french doors
Decoration and furniture
See us in action.
