A couple has moved into Britain’s cheapest home which set them back just £1 but could now fetch up to £70,000.
Lawrence Poxton, 48, and his wife Teresa, 46, moved into the terraced property in Stoke-on-Trent, Staffordshire, after the council put 33 properties on the market for a pound in a desperate attempt to clean up the area.
The bus driver and his wife were picked from thousands of applicants to be the first couple to move into the homes - which they now estimate could be sold for up to £70,000.
Quids in! Lawrence Poxton, 48, and his wife Teresa, 46 outside their house which they bought for a pound
The couple first applied to get the keys to one of only 33 houses available for £1 in March 2013.
After being selected from thousands of applicants, the lucky couple blindly picked their
new home out of a model in November.
While other houses in the street are still boarded up, the pair have transformed their two-bed mid terrace into a modern home - with a spacious bathroom, roomy kitchen and plush carpets - as well as a feature staircase.
As the final licks of paint dry the ecstatic pair can finally move in to the first home they actually own.
Mr Poxton said: 'It’s like a dream come true for us.
A couple has moved into Britain's cheapest home - which set them back just a pound but could now fetch up to £70,000
Cheap! Some of the other houses in Stoke that where for sale for just one pound
New start: Every lucky person to grab keys to a
house was given a £30,000 low interest loan to completely renovate the
derelict dumps
'When we were picked it felt like we had won the lottery.
'For the last nine months I’ve been like a kid waiting for Christmas to finally move in.'
In a desperate attempt to clean up road upon road of boarded up terraced houses, Stoke-on-Trent City Council has spent £3million renovating properties across the town.
Every lucky person to grab keys to a house was given a £30,000 low interest loan to completely renovate the derelict dumps.
Lawrence and Teresa, who have been together for ten years and married for five, were given the choice of doors, flooring and cupboards as the face-lift was completed.
Only a small handful of houses in the town have
been renovated as part of this scheme so far. On Denbigh Street only
eight out of 90 houses have been renovated
New beginnings: The couple first applied to get
the keys to one of only 33 houses available for £1 in Stoke-on-Trent,
Staffs, in March 2013
On the up: A lot of the houses around Denbigh
Street are owned by private landlords and haven't been looked after by
the tenants who live in them
Mr Poxton said: 'When we picked it, the house was just a shell.
'We’ve had a new roof, windows and doors put in and they’ve re-wired all the electrics and put in new central heating and insulation.
'It’s like a completely different building to the one we picked nine months ago - it’s fantastic.'
Previously the pair rented a similar house in the town centre, but even though they have to pay back the council loan in the next ten years, they are saving money.
The 48-year-old said: 'Typically we were paying £425 per month in rent with bills on top.
Home sweet home: Lawrence Poxton, 48, and his
wife Teresa, 46, sit on a bed in their new home in Stoke which they
designed themselves
Lawrence and Teresa were given the choice of doors, flooring and cupboards as the face-lift was completed
Through the keyhole: Previously the pair rented a
similar house in the town centre, but even though they have to pay back
the council loan in the next ten years, they are saving money
Stoke-on-Trent City Council has spent £3million
renovating properties across the town including this house which belongs
to Lawrence and Teresa Poxton
'Here, we are paying almost half of that in paying back the loan and we have got a house that we own, instead of just throwing money at someone else.
'In our last place we had a window smashed in in January and it wasn’t fixed until March - we were freezing.
'It just feels amazing being able to make this house our own home - we can’t wait to spend the rest of our lives here.'
Only a small handful of houses in the town have been renovated as part of this scheme so far.
Inside the kitchen: This property was sold to
Lawrence and Teresa Poxton for just a £1 thanks to a scheme by
Stoke-on-Trent City Council
Lawrence Poxton, 48, and his wife Teresa, 46,
have moved into the terraced property in Stoke-on-Trent, Staffordshire,
after the council put 33 properties on the market
Despite the couple paying just £1 for the two bedroom terraced house the property could now be sold for up to £70,000
After being selected from thousands of
applicants, the lucky couple blindly picked their new terrace house out
of a model in November
On Denbigh Street - the road the Poxtons live on - only eight out of 90 houses have been made up, and Mr Poxton admits they 'stick out like a sore thumb' in between all the other dilapidated buildings.
As a result, security guards patrol the road 24 hours a day to ensure none of the houses are vandalised or any copper is stolen.
A lot of the houses around Denbigh Street are owned by private landlords and haven’t been looked after by the tenants who live in them.
As part of the council’s scheme though, landlords are being offered the same £30,000 loan to modernise their houses.
Mr Poxton said: 'We’re not worried about being a target here.
'We knew that when we moved in that it would take a while for everything to improve.
'It was never going to happen overnight, but we’re confident that the council know what they’re doing and this will be a really nice place to spend the rest of our lives.
'We’ve bought Britain’s cheapest house - what more can we ask for?'
DM
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