We made £700k profit in just six months converting an old barn into three luxury houses

FIRST-TIME buyers on Homes Under the Hammer made a whopping £700k profit from selling their converted three properties. 

The two investors had high hopes and expectations for their first turnover, which proved to be a roaring success.

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First time buyers on Homes Under the Hammer presented by Dion Dublin made £700k profit on their purchased old barn[/caption]

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Best friends Nick and Aaron purchased the barn for £300,000.[/caption]

Show presenter Dion Dublin was near Ash in the Dover district, viewing a massive plot of land which had a huge agricultural barn with land at the back on last week’s Thursday episode of Homes Under the Hammer.

The plot was under auction with a guide price between £250,000 and £300,000.

It was eventually purchased at auction by friends from Kent, Nick and Aaron for £300,000. 

The long-time mates initially set themselves a transformation budget of £600k with a completion date of six months. 

The best friends were ambitious with their plans as they wanted to turn the huge, warehouse-like property into three dream luxury four-bed houses.

The duo were fortunate enough that the plot came with planning permission already granted.

Nick explained during the episode: “Having planning takes a lot of stress out of it and means we can get going straight away.”

Nick and Aaron worked tirelessly until the barn was unrecognisable and looked like how they imagined. 

Ultimately, the two friends paid just under £1 million on build costs alone, with the total spend adding up to  £1.3 million altogether.

The owners of the three newly transformed properties revealed to fans that one of the properties had already been sold for £675,000.

With sales of the other two already underway, they agreed to stick to that asking price. 

This means they will be due a payout of over £2 million. 

If things go to plan for the duo, they will have successfully made a profit of £700,000 before fees and tax.

On a separate episode of the BBC show, two buyers revealed that they added an en-suite bathroom to every room in their newly brought property, adding a £70k value.

Wayne and Mary set a budget of £25,000 and a time frame of nine months to get the property ready to rent.

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The duo converted the barn into three modern new properties[/caption]

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The properties are now booming[/caption]