My first house - your opinions and help needed pls!

trampyblonde

Hi,

Im new on here and after a bit of advise! :j

My boyfriend and I bought out first house in december last year for 164k. It needed new electrics, central heating, new kitchen and bathroom and decorating. We;ve nearly finished all of this now and we are looking for our next project. We loved doing up this house and are looking for another challenge. Hopefully we should have upped the value of our house by at leat 15k......now here is where you guys come in!

What do you think the best thing is to do next in order to make the most money? How do you make a decent amount of money from property without oweing too much?

I know this is quite a vague question so i'd love to hear your opinions or experiences!

Thanks!

Susie :A

wecanhelpu

trampyblonde wrote: »

Hi,

Im new on here and after a bit of advise! :j

My boyfriend and I bought out first house in december last year for 164k. It needed new electrics, central heating, new kitchen and bathroom and decorating. We;ve nearly finished all of this now and we are looking for our next project. We loved doing up this house and are looking for another challenge. Hopefully we should have upped the value of our house by at leat 15k......now here is where you guys come in!

What do you think the best thing is to do next in order to make the most money? How do you make a decent amount of money from property without oweing too much?

I know this is quite a vague question so i'd love to hear your opinions or experiences!

Thanks!

Susie :A

Keep watching property ladder :rolleyes:

CB1979_2

how trampy is trampy

so in 7 months you've hopefully made £15k is that profit or is that just added value?

how much have you spent?
how much would the price be now without the work done?

if it's £15k profit on top of the general house price rises in the area, then good on you, surely just doing the same kind of thing and getting an extra £30k a year is good enough for doing this to 2 houses per year?

BTman

a) How much have you spent on it, including all work and all buying fees?
b) How much have you paid out in mortgage payments over 7 months?
c) How much of the capital is actually paid off ? (very,very little I expect, none if its an IO mortgage..)
d) How much will it cost you to sell it?



When the house is sold and you have the money in the bank please post back and let us know exactly how much you have made in 7 months...;)