Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.

Buying house to do up and sell

Wandering what you think is a fair outcome here.

I’m buying a house for £80k which will be in my name. I’m putting £20k deposit down and looking to spend £20k on renovations. Me and my gf of a year and a half will be living in the property while we do it and she’ll contribute towards some of the bills and help out with some of the minor work going on, painting, labour etc. 

The plan is to flip within 6-9 months and sell for a £15-20k profit.

Bearing in mind the money being put into the house is all mine what would you say would be fair for her to have out of that profit when we sell.

My divorce from previous marriage is just about to be signed and sealed and I’ve been stung with that so looking at things from a more selfish POV now.



  • teachfast
    teachfast Forumite Posts: 633
    500 Posts First Anniversary Name Dropper
    I think your major worry is not how to divide the profits. 
  • moneysavinghero
    moneysavinghero Forumite Posts: 1,761
    1,000 Posts Fourth Anniversary Name Dropper Photogenic
    Free rent for 9 months should cover what she puts into it.
  • billy2shots
    billy2shots Forumite Posts: 1,103
    Fifth Anniversary 1,000 Posts Name Dropper
    Wage minus rent would be cleaner than % of profit.

    Not what I would do if I felt the relationship was strong but sounds like the best option for you. 
  • AdrianC
    AdrianC Forumite Posts: 42,189
    Eighth Anniversary 10,000 Posts Name Dropper
    You're grown adults. Sit down and have a conversation about it.

    If you can't agree, then the whole project - indeed, relationship - is doomed anyway.
  • theoretica
    theoretica Forumite Posts: 12,067
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    How would it affect the project if she bowed out?  Does she want to live in a building site for months? Fair rent for a property in process of being done up would seem pretty low.

    If it doesn't go to plan will she have any responsibility for losses?

    You are putting in £40k - and hoping for £15k profit in under a year- what might you earn on this money without the project? 
    But a banker, engaged at enormous expense,
    Had the whole of their cash in his care.
    Lewis Carroll
  • getmore4less
    getmore4less Forumite Posts: 46,882
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    Does this include her paying 50% of the mortgage?

    Base cost £100k
    You putting in £40k

    Mortgage £60k

    30% before you value the relative non cash inputs.

  • dimbo61
    dimbo61 Forumite Posts: 13,686
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    What makes you think you will sell for £10/15K more 6/9 months after you have bought the place ?
    In order to buy a property it has to have a " working kitchen and bathroom " 
    Now unless your a qualified electrician with mates in the trade you will struggle to add value unless you extend the property.
    New kitchen and bathroom may make the property more attractive but when the surveyor looks at the value he/she will see what you bought the place for 6/9 months ago.
    They can even see the old photos before you bought the property.
  • lesalanos
    lesalanos Forumite Posts: 859
    Part of the Furniture 500 Posts Name Dropper
    Mortgages should not be used for flips.  Be careful of committing mortgage fraud with that 
Meet your Ambassadors


  • All Categories
  • 338.9K Banking & Borrowing
  • 248.7K Reduce Debt & Boost Income
  • 447.6K Spending & Discounts
  • 230.8K Work, Benefits & Business
  • 601K Mortgages, Homes & Bills
  • 171.1K Life & Family
  • 244.1K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards