🏡 Reno Opportunity: £300k East Didsbury Semi-Detached

Hello and welcome to today’s edition of The Reno Hunter newsletter! We're excited to share another renovation opportunity with you, full of potential. Today, we’re featuring a 3-bed semi-detached house in East Didsbury, a highly sought-after Manchester suburb. With its excellent transport links, schools, and local amenities, this property could be transformed into a profitable investment.

The Property 🏡

Today's property is a charming 3-bedroom, 1-bathroom semi-detached house located on Laneside Road, East Didsbury, M20 5PD. On the market for £300,000, it offers a fantastic opportunity to add value through modernisation.

With a refurbishment budget of £30,000, this property has the potential to become a high-spec family home, aligning with other recently sold properties in the area.

🌱 🔗 View the property details on Rightmove 🔗 🌱

📊 Running The Numbers 📊

💰 Cash Deployed for Purchase 💰

• Stamp Duty (Second Home): £17,500

• Legal Fees: ~£1,000

• Mortgage Deposit (25%): £75,000

• Mortgage Arrangement Fee: ~£1,000

• Total Cash Deployed: £94,500

🛠️ Refurbishment Costs 🛠️

• Kitchen and Bathroom Updates: £20,000

• General Redecoration & Carpets: £7,000

• Exterior Improvements: £3,000

• Total Refurbishment Costs: £30,000

📈 Holding and Selling Costs 📈

• Monthly Mortgage Payments (5% interest, 75% LTV, assuming 6 months renovation time): £6,750

• Agent Fees (1.5% of sale price): £5,250

• Legal Selling Fees: £1,000

• Total Holding and Selling Costs: £13,000

💷 Summary of Costs and Profit 💷

• Estimated Sale Price (Post-Renovation): £399,000

• Bank Repayment (75% of Purchase Price): £225,000

• Total Cash Returned Post-Sale: £174,000

• Total Spent (Fees + Refurbishment + Holding Costs): £137,500

• Profit After Costs: £36,500

• ROI Calculation:

  Profit (£36,500) ÷ Total Spent (£137,500) = 26.5% ROI 🔥 🔥

Why We Like It ❤️

Location: East Didsbury is highly desirable for its excellent schools, green spaces, and proximity to Manchester city centre. Properties at this price point rarely stay on the market long, especially in M20.

Potential: The property’s existing layout and structure make it ideal for a cost-effective transformation. By focusing on modernising key spaces like the kitchen and living areas, the property’s value can be significantly boosted.

🛠️ Renovation Plan ⚒️ 

Key Upgrades:

• 🫖 Kitchen: Install a modern, open-plan design with premium appliances (£15,000).

• 🚽 Bathroom: Add contemporary fittings and tiling (£5,000).

• 🖌️ Redecoration: Fresh paint and flooring/carpets throughout (£7,000).

• 🏡 Curb Appeal: Enhance the garden and exterior facade (£3,000).

🔮 How it could look 🔮 

Love it when we find an avocado bathroom.. It usually means opportunity! Rip this one out, start again and you’ve got a completely different sales listing already.

We actually had some fun with this one, taking on the challenge of keeping the avocado-theme but bringing it into a Bohemi-modern style bathroom.

We’re not convinced we like it either 😀 , but you get the idea!

💡 Final Thoughts 💡

This East Didsbury property is an excellent choice for investors or homeowners looking to create a dream family home. With a strong ROI of 26.5% and room to negotiate on the purchase price, this is an opportunity worth considering. Act quickly, as properties in this area that are undervalued such as this one have been going pretty quickly in the last six months.

👉 Looking for renovation inspiration? Check out before-and-after renovation ideas on Instagram.

Until next time…

Happy hunting,
The Reno Hunter Team