CPS Homes

Adding £45k to a property's value through spending just £10k

We recently spoke to a new landlord client who was installing a second toilet in his 5-bed let in order to meet Cardiff Council’s HMO licence requirements. After visiting the property, our advice was that it may well be worth spending an extra few hundred pounds and adding a full second bathroom instead of just a toilet, thereby generating a unique selling point for a 5-bed let. Not only that, but it also creates enough facilities for a 6 or 7-bed let.

Due to issues surrounding Change of Use applications in Cardiff at the moment, let’s concentrate on developing a 5-bed let into a 6-bed let, which is often achievable by splitting the first floor front bedroom in two – creating access via a small lobby directly behind.

Please refer to the before and after floor plans below to see what we suggested doing with the space available.

CPS Homes arranged all the work on the landlord’s behalf. The new rooms, extra bathroom and extra bedroom were created and finished for under £10k. In the process, the property’s value increased by £45k.

If you'd like more information on the services we're able to offer, please contact me via 02920 668585 or tom.foulkes@cpshomes.co.uk.

Before

floorplans

After

floorplans

07 March 2016

The information contained within this article was correct at the date of publishing and is not guaranteed to remain correct in the present day.

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