I bought my first home at 53 – and saved £15,000 by doing it up myself

Kavel Rafferty has rented flats across Europe for decades, drifting between Stockholm, Barcelona, Brighton and London, without ever owning a home.

Now, aged 54, the Margate artist has finally bought her first property, taking on renovations that cost her £40,000 – but she thinks it’s well worth it.

Kavel bought the property with a 16-year mortgage a year ago, meaning she will likely keep working beyond the state pension age of 66, as she’ll have to repay until she’s 69.

The collage artist and gallery owner bought the two-bedroom ex-council Margate property at auction last June for £157,500 plus fees, using money left to her by her grandfather as a deposit after years of renting.

She added: “I have lived abroad for over 10 years, and it just never seemed the right time to buy before. Then I was left a bit of money from my grandad and thought I had to use this wisely and not fritter it away.”

The home she bought was frozen in time, complete with a defunct 1970s heating system and dated interiors.

Over the past year, Kavel has spent around £40,000 transforming the property.

The renovation has included new electrics, replastering throughout, knocking down walls, a downstairs toilet, new radiators, a new boiler and hot water system, plus a complete re-design of the downstairs into an open-plan living space.

By taking on much of the project herself and hunting relentlessly for salvaged bargains, Kavel believes she has shaved at least £15,000 off what the cost would be.

Her renovation strategy relied heavily on Facebook Marketplace, eBay and reclaimed materials rather than expensive showroom fittings.

She bought various bits of her new bathroom for £400, while the retro bathroom tiles were “deadstock 60s ceramic mottled pink” bought from eBay.

The radiators came from builders stripping out the former London Palladium offices. Kavel had them blasted and powder-coated which came to about £1,600. Kavel thinks that would have cost her double the amount if they were new.

Her kitchen is made up of IKEA cabinets with handmade fronts built from reclaimed shop signs by a friend, while she also learned to tile herself to cut labour costs further.

She explained: “I am doing all of the decorating. I’ve probably saved around £15,000 on materials and by going the DIY route on anything cosmetic.”

The decision to buy an ex-council property was largely driven by soaring house prices in Margate, where period homes have become increasingly unaffordable as the Kent seaside town has boomed in popularity.

According to Rightmove, the average house price in Margate was £296,864 over the last year.

The majority of properties sold in the town over the last year were terraced, selling for an average price of £280,923. Meanwhile, flats sold for an average of £175,410, with semi-detached properties fetching £337,786.

Kavel explained: “Period properties have gone up a lot in Margate in recent years, so ex-council seemed the way to go.

“I like mid-century design, so it worked for me. I have very eclectic taste and I am very creative. I think that helps when you are doing a house up yourself.”

Now, after a year of dust, demolition and DIY, Kavel estimates the house could be worth around £220,000, though she says the highly personal interiors may not appeal to everyone.

She continued: “I haven’t added a huge amount to the value, as the style is very personal to me, but the bones are good now and everything works.”

The project is still unfinished, with new windows and downstairs flooring still on the wish list. But after decades of renting, she said simply having a home of her own feels worth it – even if retirement will have to wait.