Couple Sells Renovated Victorian Home for Double Purchase Price, Plans Move to Spain

James and Sam Davies are selling their five-bedroom detached house, known as The Elms, in Curdridge, Hampshire, for £1.5 million, marking a significant return on their initial investment. The couple purchased the 1880s property for £750,000 in 2014 and have since spent £250,000 on renovations over a 10-year period.

A Decade of Renovation

The Davieses, who discovered the house after a four-year search, initially had reservations due to the extensive work required. The property, which was in need of considerable updating, had been owned by an elderly couple in their eighties. "The house was very tired," James Davies, 61, told This is Money. "We knew nearly everything would need replacing."

Despite the need for modernization, the couple was committed to preserving the home's original character. Key period features such as stained glass windows, ceiling roses, coving, and skirting boards have been retained. The renovations focused on essential upgrades, including new guttering, damp-proofing, a modern kitchen, and the addition of bathrooms, bringing the total to four.

The renovation process was conducted gradually over a decade, aligning with the couple's finances. "The project was based on our finances, so we did one room a year," Davies explained. "We wanted to do it right and stay sympathetic to the house's character."

The property also includes a self-contained flat, which was once used as servants' quarters and was occupied by one of the couple's daughters. The house itself spans over 3,000 square feet.

Downsizing and Relocation

With their two daughters, aged 27 and 25, having left home and purchased their own properties, the Davieses now feel the large house is too much for just the two of them. They plan to downsize to a smaller property in the UK and also intend to purchase a detached villa in the Mercia region of Spain for approximately £400,000.

Davies expressed some nervousness about the current housing market, describing it as "stagnant." However, he believes The Elms will appeal to buyers looking for a character-filled home with ample space for social occasions, though he anticipates it may not attract those seeking contemporary "glass box" homes.

The couple has accumulated many fond memories in the house and its garden, hosting parties and social gatherings. The dining room table, in particular, has a unique history, with all past dinner guests signing its underside.