Flip this Bungalow for £50,000 profit!

Flip this Bungalow for £50,000 profit!

£199.00

Bungalows are highly desirable properties for flipping, as well-presented homes on the market are a rare find. The demand for well-maintained bungalows is strong, and comparable sales in the area support this trend, attracting eager buyers!

Check out the figures:

Purchase Price: £207,000
Renovation Costs: £45,000
Projected Sale Price: £325,000
Estimated Profit: £50,000

You can reserve this lucrative deal for just £199. This holding fee is fully refundable should you decide not to proceed after completing your due diligence. Don’t miss out on this fantastic investment opportunity!

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Property Description: New Rd, Aberdulais, SA10

Discover a promising investment in this charming detached bungalow located in the serene area of Aberdulais, just 15 minutes from Neath. This property has been cherished by the same family since its construction, showcasing meticulous upkeep throughout the years. Set in a quiet neighbourhood, the bungalow boasts a lovely garden and a spacious double garage to the rear, providing ample outdoor space and storage. While the home is well-maintained, it presents an excellent opportunity for modernisation and updating, perfect for those looking to add value.

Bungalows are highly sought-after investments, particularly in retirement areas like Aberdulais, where buyers seek peace and seclusion without sacrificing access to local amenities. Here are several reasons why bungalows make excellent properties to flip:
High Demand: Bungalows appeal to a wide range of buyers, including retirees, young families, and first-time homeowners, due to their accessibility and single-level living. This broad market ensures a quick sale once renovated.

Ease of Renovation: The layout of bungalows often allows for straightforward renovation projects. With a single story, it’s easier to create open spaces and modern designs, maximising the property's appeal with fewer structural challenges compared to multi-story homes.

Lower Maintenance Costs: As they are typically easier to maintain, bungalows often attract buyers looking for a home that requires less upkeep. This can lead to faster sales and a quicker return on investment.

Versatile Living Spaces: The ability to reconfigure the interior layout provides opportunities to create contemporary living spaces that meet modern buyer preferences. Opening up the living area can create a more inviting atmosphere and increase overall space.

Long-Term Value: With the trend of downsizing among older adults and increasing demand for single-level homes, bungalows tend to retain their value well over time, making them a sound investment.

With a purchase price of £207,000, a renovation budget of up to £45,000 can be allocated to transform this property into a modern haven with a charming country cottage feel. The potential return on investment is substantial: selling the revamped bungalow for £325,000 could yield over £50,000 in profit. This budget allows for a supreme renovation, ensuring a quick sale in a competitive market. Don’t miss out on this fantastic opportunity to invest in a well-located bungalow with incredible potential. Embrace the chance to create a desirable, modern living space in a tranquil setting!

Number of Bedrooms (current): 3

Is there potential to add a bedroom?: No

Reception Rooms: 1

Bathrooms/shower-rooms: 1

Property Asking Price: £230,000

Agreed Sale Price: £207,000

Fair Market Value (DUV): £325,000

Comparable 1: 1. Basic Bungalow - 3 bed, sold £330,000: https://www.rightmove.co.uk/house-prices/details/england-127838129-93680253?s=4576331dd99a1d72b55c7b27fe55754596892d13d07c527125e3d310121a4cf4#/

Comparable 2: 2. Dectahed Bungalow, Sold £325,000: https://www.rightmove.co.uk/house-prices/details/england-127743389-19548499?s=eb312582545d8fce6b000e7feef97fc7f9d178c9515d454a1f600064cbf55ba5#/

Comparable 3: 3. Detached Bungalow, Sold £325,000: https://www.rightmove.co.uk/house-prices/details/england-21779203?s=875b6f083b8013a2a4ee4f044a54728a05ba2bfd03b2aaab5eea2b3413006de6#/

Market Status: on the market

Why is the property being sold?: Sale identified by sourcer (open market)

Is the property in a lettable condition: Yes

Is the sale price negotiable?: No

Property Type: House

Freehold or Leasehold: Freehold

Is the property part of portfolio?: No

Exit Strategy 1: Cash Purchase Flip (or bridge)

Exit Strategy 2: Capital Growth

Exit Strategy 3: BTL

Potential Target Demographic: Retired/Elderly

Refurbishments Required:

Phase 1: Demolition and Preparation
Rip Out and Prepare for Build: Remove existing fixtures, fittings, and any unwanted materials to create a clean slate for renovation.

Phase 2: Structural Adjustments
Adjust Floor Plan: Reconfigure the layout to create an open-plan kitchen/living area, enhancing the flow and maximising space.

Phase 3: Electrical and Heating Updates
Re-Wire: Complete a full rewiring of the property, including the installation of modern spotlights throughout for improved lighting.
Install New Radiators and TRVs: Replace existing radiators with new units and install thermostatic radiator valves (TRVs) for better temperature control. (Note: A new gas boiler is already in place.)

Phase 4: Insulation and Boarding
Boarding and Insulation: Install insulation in walls and ceilings to improve energy efficiency and comfort, followed by new boarding.

Phase 5: Kitchen and Bathroom Installation
Install New Contemporary Kitchen: Fit a sleek, modern kitchen that caters to contemporary living needs, focusing on functionality and style.
Install New 4-Piece Bath Suite: Ensure the new bathroom suite is suitable for elderly residents, incorporating safety features and easy accessibility.

Phase 6: Woodwork and Finishes
New Woodwork: Install cottage-style doors and torus skirting boards to enhance the property's character and charm.

Phase 7: Painting and Decorating
Painting and Decorating: Apply fresh paint throughout the property, selecting a neutral palette to appeal to potential buyers and create a welcoming atmosphere.

Phase 8: Flooring
Luxurious Carpet and Flooring: Install high-quality carpet in bedrooms and durable, stylish flooring in living areas and the kitchen for a cohesive look.

Phase 9: Curb Appeal Enhancements
Front Curb Appeal: Improve the entrance and exterior of the property with landscaping, new front door, and possibly outdoor lighting to make a great first impression.

Phase 10: Outdoor Presentation
Back Garden Clean and Present: Clear debris, tidy up the garden, and enhance its appearance to create an inviting outdoor space suitable for relaxation and enjoyment.
This renovation schedule will ensure a comprehensive transformation of the bungalow, making it a modern, attractive property that appeals to a wide range of buyers while maximising its investment potential.

Estimated Refurbishment Costs: We have set aside a budget of £45,000 for this renovation project. This estimate is designed to cover extensive improvements while allowing for a high-quality finish. Depending on your preferences, you may choose to adjust the budget based on the scope of work you envision. Once the deal is finalised, we will assist you in your due diligence by providing two builder quotes based on an agreed-upon specification. Please note that Tiger Burrows charges a management fee of 10% of the renovation costs to oversee the project. We anticipate that this fee will comfortably fit within the allocated budget.

Flip Figures - Purchase Price: £207,000

Refurb Costs: £45,000

Entry Legal Costs: £1600

Exit Legal Costs: £1000

Stamp Duty: £9225

Survey Costs: £450

Broker Fee: £0

Tiger Burrows Consultation Fee: £3497

Estimated 6 months bills costs: £750

Estate Agent Selling Fees: £5070

Total Costs for investor: £274,592 is using all cash. Estimated £114,000 if utilising lending.

Re-sale price (DUV): £325,000

Estimated Flip Profit: £50,408 if used cash. Estimated £46,000 if using lending. (ROI expected is 42%)

Area Description:
Located in the picturesque village of Aberdulais, the property at Brodawel, New Rd, Aberdulais, SA10 8HT offers a unique blend of tranquility and accessibility. Nestled in the lush valleys of South Wales, Aberdulais is known for its stunning natural beauty, including the nearby Neath Canal and the scenic Aberdulais Falls, which provide a lovely backdrop for outdoor enthusiasts.
The village is characterised by a strong sense of community, with friendly locals and a peaceful atmosphere that makes it particularly appealing for families and retirees alike. Despite its quiet setting, Aberdulais is conveniently located just 15 minutes from the bustling town of Neath, where residents can access a variety of shops, restaurants, and essential services.
Education is well catered for, with several local schools providing quality education options for families. Additionally, the area benefits from excellent transport links, including easy access to the M4 motorway, making it a convenient base for commuters traveling to nearby cities such as Swansea and Cardiff.
Aberdulais is also rich in history, with several heritage sites and cultural landmarks nearby, enhancing the area's charm. Overall, this location offers a perfect balance of serene living, community spirit, and proximity to urban conveniences, making it an ideal place to call home.

Local Area Information About New Road, Aberdulais, Neath, Wales, SA10 8HT

Investment Opportunities

Flip this Bungalow for £50,000 profit!

Flip this Bungalow for £50,000 profit!

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