A UK family who bought a house for £1 ($1.80) and spent £40,000 converting it into their dream home have been amazed to discover that it's now worth £125,000 ($232,890).
Mel and Rob Hilton-Phillip bought a dilapidated three-bedroom house last February, and then set to work converting it into their first family home.
They opened up about the challenges of living in the near-derelict area on a UK reality show The £1 Houses: Britain's Cheapest Street. They told the show that they were scared to leave the house at night due to local vandals setting off fireworks and even using the street as a public toilet.
When curiosity got the better of them, they decided to see how much their home could be worth if they chose to sell - and were amazed when they discovered it could make them a profit of £85,000 ($158,360).
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In 2013, more than a hundred terraced houses stood derelict in the Webster Triangle, a run-down area of Liverpool in the UK.
As part of a renovation project in the area, they were handed over to first time buyers for £1 each.
But five years into the project, the £1 house scheme is way behind schedule - and just 34 houses of the 138 in the project have been finished.
Mel and Rob Hilton-Phillip snapped up the chance to live mortgage-free in the area, and were excited to create their dream three-bedroom home.
But while they were overjoyed with their £40,000 ($74,520) renovation on the property, they remained concerned about the realities of living in a street which is full of derelict houses.
When they moved in they thought others would follow, but the community hasn't materialised.
Ms Hilton-Phillip admitted that, despite the home being their sanctuary, it's not what they "wanted to sign up for".
She revealed: "Even if we wanted to sell, we probably couldn't right now because the houses around us aren't full."
To put their fears at ease, the couple decided to invite an estate agent to value the home.
Having shown her around the house, she sat the couple down and said: "The pricing obviously is a little bit tricky because there aren't many comparables. Price wise I'd say at the moment about £120,000 to £125,000, and when it's done it could be £130,00-£135,000."
The couple were delighted and, as another home went up for sale in the area, they started to lean towards selling.
Selling a £1 house isn't straight forward. House-owners are in a contract with the original owners of the property, Liverpool Council, which means they can't sell for five years. Selling early means giving the council up to 25 per cent of the sale price.
The couple admit that they're unwilling to give the council any money back, with Ms Hilton-Phillip telling the show she "wants to see the street full of families".
- Daily Mail
