🏡 Reno Opportunity: £500k Lancaster Bungalow

Hello and welcome to today’s edition of The Reno Hunter newsletter!

Today, we’re spotlighting a unique renovation opportunity in Slyne, Lancaster.

'Rusha-Lea' is a spacious, extended three-bedroom detached true bungalow, nestled off a private road on Hest Bank Lane. This property offers immense potential for those looking to create their dream home in a highly sought-after village location.

🔗 View the Property on Rightmove 🔗 

💡 Why We Like It 💡 

• Prime Location: Situated in the desirable village of Slyne, the property is close to local amenities, including a Londis store/post office, canal waterways, sea shore walks, and the M6 link road.

• Expansive Plot: The bungalow sits on a large lawned garden that surrounds the property on three sides, offering space for outdoor activities, gardening, or potential extensions.

• Detached Outbuildings: A detached garage, stable, and tack room provide versatile spaces for storage, hobbies, or conversion (subject to planning permissions).

💷 Running The Numbers 💷 

• Guide Price: £500,000

• Estimated Renovation Costs: £60,000 - £100,000

• Potential Market Value Post-Renovation: £650,000 - £700,000

• Potential Profit Margin: £50,000 - £140,000

🛠️ Renovation Plan

1. 🔍 Structural Assessment: Engage a professional to assess the roof, foundations, and any signs of dampness. £3,000 - £5,000.

2. 🔧 Modernize Essentials: Update electrical systems, heating, and insulation to improve energy efficiency. £10,000 - £15,000.

3. 🎨 Interior Refurbishment:

   • Kitchen: Redesign with modern appliances, cabinetry, and potentially an open-plan layout. £12,000 - £20,000.

   • Living/Dining Room: Enhance natural light through existing French doors and windows; consider opening the space for a contemporary feel. £5,000 - £8,000.

   • Bedrooms: Refresh with new flooring, lighting, and storage solutions. £5,000 - £7,000.

4. 🚰 Bathroom: Renovate with modern fixtures, fittings, and tiling for a spa-like feel. £4,000 - £7,000.

5. 🌳 Exterior:

   • Landscape the gardens to create defined areas for relaxation and entertainment. £6,000 - £10,000.

   • Refurbish the garage, stable, and tack room for additional utility or conversion opportunities. £3,000 - £6,000.

   • Upgrade the render of the property for a modern, polished appearance. £5,000 - £8,000.

   • Create a stylish outdoor seating area to enhance the garden’s usability. £3,000 - £5,000.

Total Refurb Costs: £60,000 - £100,000.

🖼️ How It Could Look 🖼️ 

Imagine transforming 'Rusha-Lea' into a contemporary bungalow with open-plan living spaces, natural light, and a seamless connection between indoor and outdoor areas. The expansive gardens become a private haven, ideal for family gatherings or quiet moments of relaxation.

🤔 Final Thoughts

'Rusha-Lea' is a rare gem, offering substantial land and renovation potential in a prime location. With thoughtful updates, this bungalow can become a bespoke family home that blends modern comfort with the charm of its surroundings. For homeowners or investors, this project has the potential to deliver both emotional and financial rewards.

🌱 🔗 View the property details on Rightmove 🔗 🌱

As always, do that due-dil!

Until next time…

Happy hunting,
The Reno Hunter Team

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

Disclaimer:

All projections are based on provided data and are subject to change. Always conduct your due diligence before proceeding with any property investment.