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It was not love at first sight when James Davies, 61, and his wife first set eyes on their five-bedroom detached house in Curdridge, Hampshire back in 2014.

The father-of-two, who works as the managing director of a retirement living company, and Sam, 51, who owns a vineyard, had been searching for a new home for four years when they came across the property, known as The Elms.

The home was built in 1880 and Mr Davies admits he was unsure about making an offer on the home at first as it required extensive work.

'Nothing appealed to me about it. It was affordable for us though', he told This is Money.

And they almost didn't buy the home at all, after losing out on the house to a higher bidder initially.

But the property came back on the market after that deal fell apart, and the couple had their offer of £750,000 accepted. In a chain of 13 properties, it took 11 months to complete the transaction.

After an inauspicious beginning, they are now selling the same home for £1.5million after pouring £250,000 into renovations.

Overhaul: After extensive renovations, the Elms is on sale via for £1.5million

How the Davies doubled their money

After moving into the property in August 2014, the couple got straight to work renovating it - a process which took a decade.

'We spent 10 years renovating the house as we only had a limited amount of cash to spend on it each year', Mr Davies said.

'The people who lived in the house before we got it were in their eighties. The property was structurally sound but it needed a lot of work and was very tired.

James Davies told This is Money he has lots of wonderful memories of times at The Elms

'The house was a time-warp and we knew nearly everything would need replacing.'

However, the couple were careful to leave key period features intact.

'The stained glass windows have remained, as have the ceiling roses, coving and skirting boards,' Davies said.

'We didn't want to get an old house and fully modernise it. But we've changed the guttering and damp-proofed the house on one side. And we got a new kitchen and bathrooms, so there's now four bathrooms.'

In total, the family spent approximately £250,000 renovating the house over a 10-year period.

Davies said: 'The project was based on our finances, so we did one room a year. We wanted to do it right and stay sympathetic to the house's character.'

The house also has a self-contained flat, which one of the couple's daughters claimed. In Victorian times the flat was used as servants' quarters.

Substantial: The Elms in Hampshire has five bedrooms and excellent countryside views

Project: James Davies told This is Money The Elms was 'very tired' when he first moved in

Family space: The kitchen is modern and spacious - a world away from its 2014 look

Well-loved: Sam Davies says he saw great potential in the hallway of The Elms

Character: The original coving and skirting boards have been kept

Room to move: The Elms spans more than 3,000 sq ft and was built in 1880

Options: The Elms has five bedrooms and four bathrooms in total

Luxury: Each room has been finished to a high standard

Outdoor living: The house comes with a koi pond and outdoor entertaining space

Go green: The size of the garden at The Elms means it is manageable

Giving it all up... for a place in Spain

Now, the couple are selling the house via White & Guard as they want to downsize.

Davies said: 'It seems like a bit of a waste to just have two people rattling round this large house, so it's the right time for us to move on and buy a smaller property with fewer bedrooms in the UK.

'We also want to buy a detached villa in Spain, which could cost around £400,000.'

Both of the couple's daughters, who are 27 and 25, have left home, and purchased their own properties with their partners.

'We've had some great parties and social occasions in the house and garden and it holds a lot of wonderful memories for us', Davies said.

'The dogs we've had also enjoyed a brilliant life in the house and garden.'

Everyone who has ever dined in the house's dining room has signed the underneath of the dining room table.

Davies said he was 'nervous' about the 'stagnant' housing market but expects the house to appeal to buyers looking to ditch London.

He said: 'It won't appeal to Southampton footballers, as they seem to want glass box homes.

'But it will appeal to someone who wants a great social space and a home full of character.'