Homes Under The Hammer Maths. Homes Under The Hammer If you've never seen this daytime television gem, then what happens is that people buy a property.

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Presentation transcript:

Homes Under The Hammer Maths

Homes Under The Hammer If you've never seen this daytime television gem, then what happens is that people buy a property in an auction, do it up, then sell or rent it. Lucy and Martin interview them before and after the renovation and estate agents value the property before and after. The aim is to make a profit!

House 1 Before: After: Cost: Auction - £35,000 Labour - £6,500 Kitchen - £2,500 Bathroom - £3,000 Flooring - £1,250 Other - £750 Valued: £55,000 Will they make a profit? What percentage profit/loss have they made?

House 2 Before: After: Cost: Auction - £148,000 Labour - £11,200 Kitchen - £4,700 Windows - £3,900 Bathrooms - £5,630 Carpets/Flooring - £5,350 Other - £1,290 Valued: £175,000 Will they make a profit? What percentage profit/loss have they made?

House 3 Before: After: Cost: Auction - £173,250 Labour - £15,530 Kitchen - £4,215 Bathroom - £3,420 Carpets/Flooring - £3,140 Garage - £12,060 Garden - £3,125 Other - £1,023 Valued: £249,950 Will they make a profit? What percentage profit/loss have they made?

Flat 1 The lady in the picture bought this studio flat, costing: Auction - £95,000 Decoration - £550 Carpet/Flooring - £1,240 Cleaning - £475 She rents the flat for £725 pcm (per calendar month). She bought it with cash (so she pays no interest on it) - how long until she gets all her money back?