Two have-a-go property developers from Wales got more than they bargained for when they signed up to transform a house in desperate need of attention. Aaron, a 25-year-old self-employed electrician and Wil, a 22-year-old postgraduate student at Bangor University featured on the latest episode of The Great House Giveaway, teaming up to turn around a "tired, dated" mid-terraced three-bedroom property in Llandudno within a mile from the town centre.
The show sees two strangers who have never owned a home buy a property at auction - and have a set budget to transform it into a liveable abode to be resold in just six months. If the pair are successful, they then get to split any profit made - if not the house goes back to auction. The home cost £105,000 to buy, and they were set a budget of just £15,000 to transform the property and just six months to do it.
Shown around by the shows presenter Simon O'Brien, the pair noticed issues immediately, with Aaron in particular expressing worries after spotted subsidence, damp and mould within the property. Wil also noticed the wall was "falling apart" as he pressed his hands against the wall and it shattered. They assessed some rooms and saw they would have to "replace it top to bottom". But they did not feel intimidated by the project overall. Wil said the pair "had their work cut out" but it was a matter of getting it done. We recently reported how a wannabe property developer rendered an auction-bought house un-mortgageable in Neath. You can read more about that by clicking here.
READ MORE: The Great House Giveaway: Simon O'Brien left speechless after demolition disaster in Welsh village
Aaron drafted in a lot of favours from trade friends, whilst Wil relied on the help of friends and family to help him out with tasks, and the pair were regularly referred to as a "good team" during the show who "could not put a foot wrong." The pair both expressed their desire to get onto the property ladder during the show, and saw the show as a good gateway to doing just that if they were successful enough.
After their hard work transforming the property, the house was valued at £180,000. Mr O'Brien noted how they had "put their heart and soul into the project", telling them he felt they had done "an exemplary job."
They spent £2,342 over their £15,000 budget, and taxes and fees amounted to £15,551, meaning there was a total spend of £137,893. But the house managed to sell for a whopping £178,500, making a 40,607 profit, meaning the pair walked away with £20,303.50 each.
Aaron said: "It's just a huge shock. It's a lot of money to take away from this project. Me and my girlfriend have been saving up to get a house together. We do have a deposit ready to go but that's an extra £20,000 on top which is going to change the sort of house we can start looking at."
And Wil added: "My girlfriend and I have both seen a house we are interested in but now we can start to think how are we going to develop the house, and she's probably going to want to spend it on paint as well."
