A Stoke-on-Trent man who went to auction to buy two terrace houses worth £10,000 each came back with a two bed detached property worth £170,000.
Mick was featured on Thursday’s episode of Homes Under the Hammer when he was filmed bidding for the property in Baddeley Green.
The house – which had two reception rooms, a large family bathroom and a large garden – was in need of renovation.
With bidding starting at £110,000 for the house – which had a guide price of £115,000 – the property was snapped up by roofer Mick and his wife Julie.
Estate agent Tom Williams from Findahome Online who viewed the property in October last year said with some renovation work the house would fetch up to £220,000 as a two bed but with an extension and three bedrooms would fetch in excess of £300,000.
Mick and Julie – who had a budget of £70,000 – were hoping to complete the works, which included an extension and a loft conversion, within eight months and then sell the house once finished.
However, with the help of their sons Dale and Ryan, the house was transformed within four months. With a loft conversion and the most fabulous kitchen/diner the house was completely unrecognisable – with Julie and Mick going way over the budget spending well over £160,000.
Julie said: “As soon as we started the work we realised it deserved money being spent on it and we blew the budget out of the water!”
Earlier this year – in July – the house was valued with estate agent Tom Williams who said the property would fetch up to an impressive £420,000 if it was sold or £1,300 per month if it was rented, giving Mick and Julie a pre-tax profit of between £60,000 and £90,000.