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fru-gal

The House That Gained £800,000 In Just Three Years....

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http://www.dailymail.co.uk/news/article-2660654/The-house-gained-800-000-three-years-Huge-increase-price-home-South-West-London-latest-example-capitals-booming-property-market.html#comments

And a snippet from the article that caught my eye;

Figures from the Council of Mortgage Lenders show there is more mortgage debt in south-west London than there is in the whole of Wales.

Homeowners in the area now owe a total of £29.4billion, compared to £28.6billion in Wales.

Crayzee times y'all!

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Just three years ago, this was a run down house worth £575,000.

But with a lot of love and devotion, its new owners transformed it into an ultra luxurious property.

And now it has gone on the market for a cool £1.395million. This means that in three years it will have earned its owners £800,000 – about £660 a day.

They were fools! They could have not wasted their time and money 'doing it up' and still put it on the market now for 1.3m-ish. A bit of paint doesn't add value, UK HPI does!

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Indeed how does an £800,000 pound profit result from an £800,000 potential increase in the houses value when the owners have needed more than recourse to a paint brush. I assume all the stuff they did was free of charge.

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