'Spacious' Stoke terrace nets first-time renovator hefty profit on Homes Under the Hammer

A recruitment consultant landed himself a tidy profit after buying a two-bed mid-terrace in Stoke for his first ever renovation project. Buyer Jason appeared in today's episode of the popular BBC daytime show Homes Under the Hammer.

He purchased the property with his dad Steve and his dad's partner Kate, who are both retired and living in Portugal, for £73,000 at auction. He said the three of them would share the profits, with the couple placing complete trust in him to oversee the project.

Jason had previously done up his own property. Presenter Martin Roberts was on hand to visit the house in Stoke, describing it as "spacious" and a "nice little property".

He was impressed with the "nice high ceilings" as it helped the property stand out from the average terrace. He was also a big fan of the cosy brick fireplace in the living room, which he believed was likely made from local bricks.

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Martin told viewers: "It has a good feel to it and it just feels a little bit more spacious than the average terrace, so, yes, it's a standard terrace but it's a good standard."

Outside in the courtyard, Martin was quick to notice the guttering needed fixing, with water leaking onto the brick work and creating a risk of damp getting into the building. Upstairs, the host reckoned there was enough space to put two en-suites in the bedrooms.

Although Martin conceded there was a fair bit of work required, including a new bathroom, kitchen flooring and decorating, he was left feeling pretty positive about the potential of the property.

Jason had some ambitious plans for the property, including transforming the dining room adjoining the existing kitchen into the new kitchen, complete with an island. He told Martin he would turn the current kitchen into the dining room, with bifold doors leading into the garden.

Martin was impressed, replying: "It should be spectacular. I can't wait to see it." Jason told Martin he had a budget of £10,000 to £15,000 to spend on the property and he would also consider putting in an en-suite in one of the bedrooms upstairs.

The BBC cameras returned 12 months later to see what progress Jason had made. Plans to relocate the kitchen had been shelved due to fears it would blow the budget, but Jason had pulled off a stylish dining room transformation, nonetheless.

He fitted a new patio door to the dining room, letting in loads of light, adding sleek porcelain floors and a bold splash of colour above the fireplace. He fitted a shiny new kitchen and a new bathroom suite, leaving it looking much roomier.

What helped was the fact that Jason has also moved the boiler out of the bathroom and into the kitchen and blocked up the original back door that was in the bathroom to create more space. The hall and bedrooms were replastered and painted with carpets put in.

The old outhouse at the back of the property had been removed to create a new outdoor seating area. The renovation costs come in at a total of £11,000, with Jason keeping costs down by doing "99 per cent" of the work himself.

This took his total investment here up to £84,000. In terms of plans for the property, Jason said: "We're just going to test the market. If it was strong, it will be sold. If not, we'll rent it out."

Local estate agent Tom Williams visited the property to assess the work and estimated a sale value of £110,000, which would give Jason - along with his dad and partner - a healthy pre-tax profit of £26,000, and £575 per month on the rental market, which would mean an annual yield of just over eight per cent.

Jason told Homes Under the Hammer viewers he would definitely be selling the property and he had really enjoyed the process of doing it up. With one renovation under his belt, he was already eyeing up his next property to do up and sell, which he once again intended to buy with his dad and his dad's partner.

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