£1 house is now worth an incredible £70,000!

Published Tuesday, Jul 15 2014, 18:00 BST  |  By  |  Add comment
Talk about a bargain home!

Teresa, 46, and Lawrence, 48, Poxton purchased their humble home for a mere £1 - but they're the ones having the last laugh after they now estimate it could be worth £70,000!

£1 house is now worth £70,000

© Rex Features

Stock image

Their good fortune began when Stoke-on-Trent council put 33 houses on the market for just £1 each in an effort to boost the local area.

Despite thousands of applicants, the Poxtons were picked to move into the first one and were given a low interest £30,000 loan to bring it up to scratch.

Over the last nine months, they have transformed the rundown, two-bedroom mid terrace into a family home with plush carpets, a feature staircase and all the mod cons you could want!

Lawrence said: "It was just a derelict shell when we originally got it. But we've had a new roof, windows and doors put in and they've rewired all of the electrics and put in new central heating and insulation.

"We were paying £425 per month in rent with bills on top. It just feels amazing being able to this our own home. When we were chosen for this house, it was like we had both won the lottery."

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