This weeks success story is all about a 3-bed period home in Fairfield. Fairfield is one of my favourite areas of the city. You can walk to the city centre, yet you are surrounded by greenery. There is a real sense of community spirit and it is very popular with families.
The background story
54 Wingate Saul Road is a house which I was originally asked to value in February 2019. I knew the owners well. This used to be their family home, however several years ago they chose to let it out students.
By renting it out to students, this gave them an excellent return, however I don’t think any of us expected to see a home in the condition it was. It was dirty, untidy and certainly felt unloved. The walls were marked, the carpets stained and the kitchen and bathroom looked like they hadn’t been cleaned in months. If we wanted to achieve the best possibly price for this home - this home was in no fit condition to sell.
We had a long chat with the owners. We could sell it now. I am a firm believer there is a buyer out there for everything. The asking price though would need to reflect the condition, plus it would only be able to investors.
The 2nd option was to wait until the students left in the Summer and then give the property some light refurbishment. I explained that by choosing the 2nd option, I felt we could achieve upto £15,000 more. This is the route they opted for.
In summer 2019 the students moved out. The wall were repainted - they followed my advice and a pallette of whites and greys were used. Brand new grey carpets were fitted throughout. Externally the yard got a make over, a gate was installed and the fence were all wood stained. Golden gravel was added along with some potted plants. In all, under £3000 was spent.
We went live with our property marketing on September 17th. The brochure had been carefully prepared, the wording thoughtfully considered and the photos chosen to bring out the properties key features. This was now a beautiful home and we wanted to show off all it truly offered. A video marketing campaign went live on facebook and registered buyers were all personally informed.
On Saturday 21st September we had 13 viewings. This resulted in 6 offers. A sale was agreed at £5000 over the asking price. The sale completed just 7 weeks later.
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