For Jess and Rick Sowerby, their dream home was within reach despite initial doubts. Initially, the couple had envisioned a "turnkey" property, but after 30 failed viewings, they decided to take the plunge on a fixer-upper.
Renovation projects proved to be significantly cheaper than purchasing a fully-finished home, offering more budget flexibility for the Sowerbys' renovation project. In February 2019, Jess and Rick acquired their 1930s semi-detached house in Rochdale, Greater Manchester, with plans to transform it into their perfect abode.
The property required significant work, including re-wiring, skimming walls, and replacing the carpets, flooring, and even doors. To save money, Jess and Rick opted for a DIY approach on some aspects of the project, while hiring professionals for others.
After 15 months of hard graft, the Sowerbys finally moved into their home in May 2020, having spent £50,000 on renovations. Their investment paid off when their property was valued at £350,000 just eight months later. With Jess now pregnant with their second child, they plan to stay put and enjoy their dream home.
The allure of fixer-uppers has become increasingly appealing for first-time buyers seeking an affordable route onto the housing ladder. The average first-time buyer home price stands at around £229,000 in August this year, according to Hamptons. However, property prices can be lower for those opting for renovation projects.
In fact, it is estimated that approximately 7% of properties listed on Zoopla are fixer-uppers, with Wales, South East England, and Yorkshire and the Humber having the most properties in this category. Two- and three-bedroom houses are among the most common renovation projects available.
Another advantage to purchasing a fixer-upper is the opportunity for deep retrofitting and adding value to the property. According to Steve Lees of the Royal Institution of Chartered Surveyors, such a project can provide significant returns if done correctly.
Potential buyers must be aware of the various factors when considering renovation projects. First and foremost, it's essential to research the local area, including transport links, crime rates, schools, and amenities. It is also crucial to consider the structure of the property, taking note of any obvious defects or potential issues with construction types.
Structural surveys are highly recommended for any property requiring major work, providing valuable insights into potential problems and helping budget and timeline planning.
Jess Sowerby emphasizes the importance of examining the layout and flow of a property, rather than focusing on superficial cosmetic changes. She also cautions that certain features like walls and windows can be challenging to change without considerable expenditure.
According to Alex Peters from Checkatrade, some renovation costs are inevitable. For instance, replacing the roof could cost anywhere from £110 to £160 per square meter for a basic tile installation, depending on the type of roof and materials used. Asbestos removal can range from £950 to £3,750, depending on the extent of work required.
Average costs for common renovation tasks include:
- Installing central heating: around £5,250
- Rewiring the electrics: approximately £6,225 or £4,800 (for a flat)
- Knocking down walls: roughly £3,300 (plus VAT)
- Damp proofing: can range from £5,000 to more
Ultimately, purchasing a fixer-upper can be an excellent option for first-time buyers seeking affordability. However, it requires careful planning and budgeting to ensure the project is completed within expected timelines and cost limits.
Renovation projects proved to be significantly cheaper than purchasing a fully-finished home, offering more budget flexibility for the Sowerbys' renovation project. In February 2019, Jess and Rick acquired their 1930s semi-detached house in Rochdale, Greater Manchester, with plans to transform it into their perfect abode.
The property required significant work, including re-wiring, skimming walls, and replacing the carpets, flooring, and even doors. To save money, Jess and Rick opted for a DIY approach on some aspects of the project, while hiring professionals for others.
After 15 months of hard graft, the Sowerbys finally moved into their home in May 2020, having spent £50,000 on renovations. Their investment paid off when their property was valued at £350,000 just eight months later. With Jess now pregnant with their second child, they plan to stay put and enjoy their dream home.
The allure of fixer-uppers has become increasingly appealing for first-time buyers seeking an affordable route onto the housing ladder. The average first-time buyer home price stands at around £229,000 in August this year, according to Hamptons. However, property prices can be lower for those opting for renovation projects.
In fact, it is estimated that approximately 7% of properties listed on Zoopla are fixer-uppers, with Wales, South East England, and Yorkshire and the Humber having the most properties in this category. Two- and three-bedroom houses are among the most common renovation projects available.
Another advantage to purchasing a fixer-upper is the opportunity for deep retrofitting and adding value to the property. According to Steve Lees of the Royal Institution of Chartered Surveyors, such a project can provide significant returns if done correctly.
Potential buyers must be aware of the various factors when considering renovation projects. First and foremost, it's essential to research the local area, including transport links, crime rates, schools, and amenities. It is also crucial to consider the structure of the property, taking note of any obvious defects or potential issues with construction types.
Structural surveys are highly recommended for any property requiring major work, providing valuable insights into potential problems and helping budget and timeline planning.
Jess Sowerby emphasizes the importance of examining the layout and flow of a property, rather than focusing on superficial cosmetic changes. She also cautions that certain features like walls and windows can be challenging to change without considerable expenditure.
According to Alex Peters from Checkatrade, some renovation costs are inevitable. For instance, replacing the roof could cost anywhere from £110 to £160 per square meter for a basic tile installation, depending on the type of roof and materials used. Asbestos removal can range from £950 to £3,750, depending on the extent of work required.
Average costs for common renovation tasks include:
- Installing central heating: around £5,250
- Rewiring the electrics: approximately £6,225 or £4,800 (for a flat)
- Knocking down walls: roughly £3,300 (plus VAT)
- Damp proofing: can range from £5,000 to more
Ultimately, purchasing a fixer-upper can be an excellent option for first-time buyers seeking affordability. However, it requires careful planning and budgeting to ensure the project is completed within expected timelines and cost limits.
I was thinking about this article earlier when I read about how Jess and Rick Sowerby transformed their 1930s semi-detached house in Rochdale into their dream home 
, but it just made me think of another article I commented on months ago about people trying to DIY their own renovation projects... like the guy who put a hole in his wall thinking he could fix it with some spackling and caulk 
. Anyway, back to Jess and Rick's story... they definitely make a great point that renovation costs can be lower than buying a fully-finished home 
. I've been thinking about this a lot lately since my friend just bought a house in the UK 
. It's crazy how much of an impact the renovation process can have on the final cost... did you guys know that asbestos removal can range from £950 to £3,750? 
I was thinking about this article and how some people might think that buying a fixer-upper sounds too good to be true, but Jess and Rick Sowerby's story is actually super inspiring 
! They went through 30 failed viewings and still decided to take the plunge on their dream home, which ended up being £350k in value after just 8 months of renovations 
. Of course, there are always costs involved when renovating a property, but it seems like Jess and Rick made it work for them 
.
. It just goes to show that with careful planning and budgeting, it is possible to make a renovation project work 
.
I'm loving this trend of people opting for fixer-uppers! It's amazing how much you can get done on £50k - the Sowerbys' story is a great example of that 
. And it's not just about saving money, but also getting to put your own stamp on a property and making it truly yours 
.
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i mean think about it, its not just about finding a cheap place to live, its about creating a home that truly feels like yours. Jess & Rick's story is super inspiring, i love how they took control of their renovation project, did some DIY, and still managed to save a pretty penny 
plus, its not just about the savings, its about creating something with your own two hands, knowing that every brick and beam has a story behind it 
. Jess and Rick Sowerby's story is a great example - they put in the effort and now they're living their dream 
.
. our homes should be reflections of us, with all their quirks and flaws included 
. and, as we navigate our own renovation projects (in life), let's remember that it's okay to leave some things undone or imperfect – it's a reminder that growth happens in the spaces between perfection 
. I mean, £110-£160 per square meter for a new roof? That's insane! 
But yeah, it's not all sunshine and rainbows... you gotta be super prepared for the hard graft that comes with it 
. Researching the local area, checking out structural surveys, and knowing what costs are inevitables (like replacing a roof 
) is key to making it work.
.
. I've been thinking of getting into renovation myself, anyone got any tips?
Another advantage of fixer-uppers is that they allow you to add value & make changes that suit your style 
. Jess's tip about not just focusing on superficial cosmetic changes is spot on 
. And with some research, planning & budgeting, this can be a game-changer for first-time buyers