Homes for Sale Below $10K?! ‘Bargain Block’ Shows Us Where—and Gives Us Hope

In a time when interest rates and home prices have soared, programs like “Bargain Block” offer a glimmer of hope for homebuyers struggling to make ends meet.

A case in point can be found in the latest episode of Season 4, titled “The Windsor Balmoral House.” Here, Keith Bynum and Evan Thomas took the bold step of acquiring a 1,500-square-foot, four-bedroom, two-bath house in Detroit for a mere $7,300. Neglected and left uninhabited for years, this property exudes untapped potential and exudes the charm of an English cottage.

With a renovation budget estimated between $80,000 and $100,000, Bynum and Thomas believe that this investment could yield significant returns. Their real estate agent, Shea Hicks-Whitfield, is optimistic about listing the property at $160,000, potentially translating into a respectable profit.

In the end, they do a miraculous job of making this shabby Detroit shack feel like a royal Windsor dwelling, all without spending a king’s ransom on it. Here’s how they pull it off, with plenty of tips you might be inspired to try around your own abode.

Capitalize on original assets

While the place may bear the weight of age and wear, it possesses delightful, nostalgic English accents that add to its charm. Beyond the Tudor-style exterior, a vintage English tile adorns the fireplace, a cherished feature that becomes the centerpiece of their design vision. Drawing inspiration from Queen Elizabeth’s beloved Scottish retreat, Balmoral Castle, they choose to revolve the entire house around this quaint yet significant tile.

Bynum enthusiastically remarks, “This little tile in the heart of the fireplace is truly endearing. It’s the driving force behind the entire Balmoral-inspired theme of the house. If any element can encapsulate the essence of the home, it’s this tile.”

To fully embrace the theme, they playfully adopt faux British accents while working on their project. During the open house event, Bynum even goes so far as to don a kilt, embracing the spirit of their English-inspired endeavor.

It really is bad luck to break a mirror

Above the fireplace, a mirror hangs securely on the wall. Bynum begins tapping it with a hammer, intending to shatter it and take it down in pieces.

Thomas intervenes, urging caution, “Careful, careful! We can simply take it off.” His concern doesn’t stem from any superstition about seven years of bad luck but rather from a practical safety perspective. He knows that removing a mirror or any glass sheet intact is far safer than dealing with a shower of shards.

They proceed carefully, working to undo the corner screws that fasten the mirror to the wall.

One huge primary suite can top two small bedrooms

In this house, there are two bedrooms downstairs and two bedrooms upstairs. Hicks-Whitfield suggests combining the two downstairs bedrooms into one larger one.

“What if we make this like a huge owner’s suite?”

she asks.

“Main bedroom, huge walk-in closet, en suite bath, and two-three instead of a four-two?”

“That’s less money, right?” asks Bynum.

“How much money for another bedroom are we going to get?”

“Another bedroom would probably add, like, $10,000,”

says Hicks-Whitfield.

“As a Realtor®, I typically never recommend taking away a bedroom,”

she continues.

“But in this case, that bedroom would have been so small, we don’t need it.”

Renovate ASAP, before interest rates rise higher

“We’re operating on an extremely tight schedule for the Balmoral house,” Bynum elaborates. “Shea is eager for us to expedite the process, aiming to list it on the market before the next interest rate hike.”

To accelerate the project, they employ a strategy of overlapping various trades. Bynum explains, “We have different trades working simultaneously; the framing is nearing completion, the windows are being installed, the electrician is finalizing, and the plumber is commencing their work.”

In a further effort to save both time and money, Thomas and Bynum take it upon themselves to handle some of the drywall work. In today’s real estate climate, the imperative is to get the property on the market as swiftly as possible.

Create your own stove hood with antique corbels

Numerous interior designers are directing their attention toward distinctive stove hoods, with some even embarking on the creative endeavor of crafting them from intriguing materials. Bynum and Thomas embrace this trend when they stumble upon a delightful pair of antique corbels within their favored warehouse.

In Thomas’s words, “This compact kitchen is set to make a significant impact with the inclusion of these corbels. It’s a sophisticated feature that seamlessly aligns with the Balmoral theme, granting this kitchen the elevated aesthetic it deserves.”