What Will £43,000 Get You In Liverpool | Property Tour

TL;DR

Samuel Leeds discusses the decisions involved in refurbishing a house in Liverpool, including the placement of ensuite bathrooms and a spacious kitchen, to maximize its value.

Transcript

hey what's up my name's samuel leeds we're currently refurbishing a house in liverpool this is one of my investors houses which is going to be a buy refurbished refinance hmo i did a video about this a few weeks ago it's going to be a nice big three bed hmo right now we've just been looking at the floor plans and deciding exactly where the ensuites... Read More

Key Insights

• 🏠 The house is being refurbished in Liverpool to be a buy-refurbish-refinance HMO property, with decisions being made on the floor plans and maximizing value.
• 🔧 Ensuites are important in HMO rooms for maximum premium value. The front room may not need an ensuite, but could have exclusive access to a nearby bathroom.
• 🍽️ The kitchen is on the small side, so the decision is to remove a bathroom, knock down walls, and create a big open space kitchen with a utility area.
• 🚽 Adding value involves having three bathrooms upstairs: one ensuite and two off suites, as it is not possible to have an ensuite in the small bedroom due to waste pipe constraints.
• 💡 The plan includes moving the boiler downstairs, creating an off-suite corridor, and having an ensuite for the larger bedroom, resulting in a kitchen, utility area, three double bedrooms, and three bathrooms upstairs.
• 💪 The project aims to be finished by March, with the next phase involving electricians and plumbers, and carpet fitting already scheduled.
• 🏋️ The hardworking team on-site is making progress, and the goal is to attract tenants, refinance the property, and complete the project successfully.
• 📅 The target date for completion is March, and everything is on track for the house to be ready for tenants and refinancing.

Questions & Answers

Q: How does having ensuite bathrooms in HMO rooms maximize premium value?

Having ensuite bathrooms in HMO rooms is important for maximizing premium value because it provides convenience and privacy for tenants. In shared living spaces, having personal ensuite bathrooms adds a level of comfort and luxury, making the room more appealing to potential tenants. This feature can attract higher rental rates and increase the overall value of the property.

Q: Why did Samuel propose removing a downstairs bathroom and creating a spacious kitchen instead?

Samuel proposed removing the downstairs bathroom to create a spacious kitchen because having a large, open kitchen is a desirable feature in today's housing market. Many buyers and tenants prioritize having a big kitchen for cooking, entertaining, and socializing. By sacrificing the downstairs bathroom and expanding the kitchen area, Samuel aims to increase the property's value and appeal to potential tenants or buyers.

Q: How does Sam plan to address the lack of a bathroom downstairs?

To address the lack of a bathroom downstairs, Sam suggests having three bathrooms upstairs. One room will have an ensuite bathroom, while the other two rooms will have off-suite bathrooms. This arrangement ensures that there are sufficient bathroom facilities for the tenants while maximizing the use of the available space. By placing the majority of the bathrooms upstairs, Sam maintains the spaciousness of the kitchen downstairs and enhances the overall value of the property.

Q: What challenges did Samuel face in adding an ensuite bathroom to one of the rooms?

Adding an ensuite bathroom to one of the rooms posed challenges because the waste pipes needed to be properly connected. In this case, the waste from the ensuite bathroom could not be routed through the stairs and living areas, making it impractical to install an ensuite in that particular room. This limitation prompted the decision to create off-suite bathrooms for that room and another downstairs, and have an ensuite for a different room.

Summary & Key Takeaways

• Samuel Leeds is refurbishing a house in Liverpool to be a three-bed HMO (House in Multiple Occupation) for maximum value.

• He discusses the importance of ensuite bathrooms and a spacious kitchen for premium value in 2021.

• Samuel proposes removing a bathroom downstairs and adding two off-suite bathrooms and one ensuite bathroom upstairs to increase the house's value.