0:00:02 > 0:00:05Now there are so many different reasons why people buy at auction.
0:00:05 > 0:00:07It could be the speedy completion,
0:00:07 > 0:00:10the wide variety of properties on offer,
0:00:10 > 0:00:12or the chance to bag a bargain.
0:00:12 > 0:00:15Well, whatever your motivation, the opportunities are there
0:00:15 > 0:00:17when you buy your Home Under The Hammer!
0:00:42 > 0:00:49Now, both Lucy and I have bought property at auction and it is an experience like no other.
0:00:49 > 0:00:54Absolutely. You know the moment the hammer goes down, you're committed and the real hard work begins.
0:00:54 > 0:00:57Let's look at the properties up for auction on today's show.
0:00:59 > 0:01:03This cottage in Cheshire is sadly lacking in just one thing.
0:01:03 > 0:01:07It's a shame and it's going to take a lot of effort to put it right.
0:01:09 > 0:01:13I take a trip to Kent and do some window shopping in the lovely village of Wye.
0:01:15 > 0:01:17It just looks great from where I'm standing.
0:01:19 > 0:01:24And in Devon, there's a house which seems too cheap to be true.
0:01:24 > 0:01:28Now I know prices have dropped down here, but not by that much.
0:01:30 > 0:01:32All these properties have been sold at auction
0:01:32 > 0:01:37and we'll find out who bought them and what they paid for them when they went under the hammer.
0:01:40 > 0:01:42I'm in the county of Cheshire,
0:01:42 > 0:01:44on the outskirts of the village
0:01:44 > 0:01:46of Higher Poynton.
0:01:46 > 0:01:50I'm in Higher Poynton - a pretty little village just outside Macclesfield.
0:01:50 > 0:01:55Easy commuting distance from Manchester and Stockport, it's green belt,
0:01:55 > 0:01:59there's a golf course over there, it is a very desirable place to live.
0:01:59 > 0:02:01The thing I'm here to see sounds fantastic.
0:02:01 > 0:02:06It's described in the catalogue as an attractive three bedroom cottage.
0:02:06 > 0:02:09Oh, boy. I think I'd have to agree.
0:02:12 > 0:02:15The cottage is mainly stone-built and just oozes character.
0:02:15 > 0:02:22Nestled into a slope, it has a quirky layout, starting with the front door being at the back.
0:02:25 > 0:02:28Well, that's a bit weird, because this is the main entrance,
0:02:28 > 0:02:32but it leads you onto the floor with all the bedrooms on.
0:02:32 > 0:02:35Downstairs there, to the rest of the house, but OK, well, an
0:02:35 > 0:02:40unusual layout for sure, but through here to the first of the bedrooms and
0:02:40 > 0:02:46wow, I'm immediately thinking, it's got some of those beautiful traditional features still left.
0:02:46 > 0:02:50A few beams hidden away there, look at the windows -
0:02:50 > 0:02:55big, deep recesses, all-wooden windowsill.
0:02:55 > 0:02:57Fantastic.
0:02:57 > 0:02:58That's just the bedroom.
0:03:01 > 0:03:05The other two bedrooms in Worth Cottage are also on this floor.
0:03:05 > 0:03:11One, a double, again with lovely deep windowsills and exposed timbers,
0:03:11 > 0:03:12and this single.
0:03:15 > 0:03:18The bathroom isn't that tiny, compared to many cottages,
0:03:18 > 0:03:22and like all the rooms it's got great views of the garden.
0:03:22 > 0:03:26Along the landing, it's downstairs to the living accommodation.
0:03:26 > 0:03:28I'm liking it so far.
0:03:30 > 0:03:32There's a great sense of anticipation
0:03:32 > 0:03:35with every door that you open in the house.
0:03:35 > 0:03:38Well, you've got a little anteroom there, these beautiful old beamed
0:03:38 > 0:03:43ceilings, through into what I guess is the main living room of the house.
0:03:43 > 0:03:46Lovely little features built in - absolutely gorgeous.
0:03:46 > 0:03:53This room itself, a nice size, it's got the open fire, it's got the big door and windows out onto the garden.
0:03:53 > 0:03:57Really, really nice room. Obviously, it's in need of some updating,
0:03:57 > 0:04:00but what a lot you've got to work with.
0:04:03 > 0:04:08Well, continuing through the downstairs of the house to what was I imagine the original kitchen.
0:04:08 > 0:04:11No prizes for guessing that, given that it's got this old range.
0:04:11 > 0:04:16Beautiful old feature. I'd want to keep that even if you didn't redo this as the kitchen,
0:04:16 > 0:04:23because, at some stage in the recent past, somebody actually added on another room to the side of the
0:04:23 > 0:04:27property, literally bolted it on here in the 1970s, to create this kitchen.
0:04:27 > 0:04:30Now, to my mind, it's far too small for the size of the house,
0:04:30 > 0:04:35it's also very shabby, so you would want to replace this and maybe consider extending it in
0:04:35 > 0:04:39the future because, at the moment, it does let the house down just a bit.
0:04:40 > 0:04:43There's definitely room to extend here.
0:04:43 > 0:04:47Off the kitchen, there's an old conservatory and a small enclosed garden.
0:04:47 > 0:04:49And there's more.
0:04:49 > 0:04:54The cottage is in such a pretty little spot.
0:04:54 > 0:04:56The garden stretches all the way down there,
0:04:56 > 0:04:59you've got all this woodland around, there's a stream.
0:04:59 > 0:05:02I mean, all in all, you've got almost one acre of land
0:05:02 > 0:05:06and if you were planning on living here... I mean, what a glorious spot.
0:05:06 > 0:05:11It might be a bit tricky mowing some of those slopes though.
0:05:11 > 0:05:14But there is a large flat section off the driveway on the other side.
0:05:14 > 0:05:19So far, so good, but there's something about this property I'm not happy about.
0:05:22 > 0:05:25Something that really, really annoys me.
0:05:26 > 0:05:30The house is surrounded by these beautiful York flagstones, but as you can see,
0:05:30 > 0:05:35loads of them have actually been stolen, I reckon, about half of them, here.
0:05:35 > 0:05:38In total, about 80 square metres.
0:05:38 > 0:05:45Now stuff like this costs about £60 a square metre to buy, so that's about five thousand pounds worth
0:05:45 > 0:05:49of flagstones that have been stolen, plus all the hassle of putting them back,
0:05:49 > 0:05:51if you can actually get them to match.
0:05:51 > 0:05:58This happened in between the time of the majority of the viewings on the house and the auction itself.
0:05:58 > 0:06:01The trouble is you buy the house in the condition that it is
0:06:01 > 0:06:06on the day of the auction, so you've got no redress, because this is how it was when it was actually sold.
0:06:06 > 0:06:11But it's a real, real shame and it's going to take a lot of effort to put it right.
0:06:14 > 0:06:16Is Worth Cottage worth buying?
0:06:16 > 0:06:18I asked a local estate agent how feasible
0:06:18 > 0:06:20it would be to get planning permission
0:06:20 > 0:06:21to extend.
0:06:22 > 0:06:25It shouldn't be too difficult to get planning permission.
0:06:25 > 0:06:30There has been a previous extension in the 1970s,
0:06:30 > 0:06:33but I suppose that could actually be taken down
0:06:33 > 0:06:36and a two-storey extension put in its place,
0:06:36 > 0:06:39to create additional bedroom and ground floor accommodation.
0:06:41 > 0:06:45If the planners are on your side, would this make a good investment?
0:06:45 > 0:06:49What resale value could you achieve with or without an extension?
0:06:51 > 0:06:54Three bedroom detached cottage, here in an area such as this,
0:06:54 > 0:06:59I would have thought that you're looking in the region of £450,000.
0:06:59 > 0:07:04If you extended and fully modernised the property, then you'd be potentially looking
0:07:04 > 0:07:09around five to £600,000, depending on the extension and the condition of modernisation.
0:07:09 > 0:07:14So you'd probably not lose money if you built an extension here,
0:07:14 > 0:07:20but I think you'd have to be careful not to lose any of the character which makes this place so appealing.
0:07:20 > 0:07:23Wow, well what is there not to like about this place?
0:07:23 > 0:07:29Beautiful location, so much character in the cottage itself. Fantastic.
0:07:29 > 0:07:34The million dollar question is what is Worth Cottage actually worth? How much would you pay for it?
0:07:34 > 0:07:37Let's find out who bought it at the auction.
0:07:37 > 0:07:41Now, Worth Cottage enjoys a delightful rural position surrounded
0:07:41 > 0:07:43by established woodland,
0:07:43 > 0:07:46about one mile east of Poynton village.
0:07:46 > 0:07:51For lot number one, ladies and gentlemen, Worth Cottage, Anson Road, Higher Poynton.
0:07:51 > 0:07:53Can we bid? Where are you going to start me?
0:07:53 > 0:07:57Come on, how much can we say? Three hundred? Three hundred.
0:07:57 > 0:08:00At 300,000, at 300,000, I've got.
0:08:00 > 0:08:03And five. At 305. Ten now.
0:08:03 > 0:08:06At 310, at 310, at 310.
0:08:06 > 0:08:09At 310, 315, at 315.
0:08:09 > 0:08:13At three...320, at 320. At £320,000.
0:08:13 > 0:08:17It's against you on my right, at 320.
0:08:17 > 0:08:22At three...25, at 325, 325, 330, now, 330.
0:08:22 > 0:08:25At 330. At 330.
0:08:25 > 0:08:27At £330,000, for Worth Cottage.
0:08:27 > 0:08:31At £330,000...where?
0:08:31 > 0:08:36335, at 335, at 335. 340, now.
0:08:36 > 0:08:39At 335. 340, to either of you?
0:08:39 > 0:08:42337.5, are you tempting prominence?
0:08:42 > 0:08:45340. 338.
0:08:45 > 0:08:51At 338. At 388, it's the lady's bid, you're out at the back.
0:08:51 > 0:08:53At 338,000, it's the lady's bid on my right,
0:08:53 > 0:08:55I'm selling it once, twice,
0:08:55 > 0:09:01the third and final time at 338,000, are we all done, quickly?
0:09:01 > 0:09:06At £338,000, for Worth Cottage I'm selling to the highest bidder.
0:09:06 > 0:09:07GAVEL BANGS
0:09:07 > 0:09:09Yours, madam.
0:09:09 > 0:09:14The winning bid of 338,000 was made by husband and wife,
0:09:14 > 0:09:19Victoria and Guy, who bought Worth Cottage as their new home.
0:09:21 > 0:09:25They currently live with Victoria's parents, just a few minutes away,
0:09:25 > 0:09:28so they know the area and the cottage very well.
0:09:28 > 0:09:29I met Guy, to find out more.
0:09:29 > 0:09:33Be careful not to bang your bonce as you come through there.
0:09:33 > 0:09:35- But Guy, congratulations.- Thank you.
0:09:35 > 0:09:37- You must be a very happy man.- Very.
0:09:37 > 0:09:40- Very happy. - It's a fantastic place isn't it?
0:09:40 > 0:09:41- Yes.- Why did you want to buy it?
0:09:42 > 0:09:48We were looking for a property. We sold up about six months ago and it just came up and it was
0:09:48 > 0:09:51there, available, it was the right time, my wife loved it,
0:09:51 > 0:09:54she's from around here, it's a very pretty house.
0:09:54 > 0:09:57Yeah. And if she knows the area, she's...
0:09:57 > 0:10:00She spent a lot of her young years around here, walking past the house.
0:10:00 > 0:10:04- Really?- Yeah. - She used to walk past it as a child?
0:10:04 > 0:10:08With her grandma, she used to spend a lot of time walking up here.
0:10:08 > 0:10:12There's a canal path at the top and she went there with her grandma.
0:10:12 > 0:10:16- I've actually found some pictures. Have you seen these? - Yeah, they're beautiful.
0:10:16 > 0:10:19- They were left by the previous owner.- And what's this?
0:10:19 > 0:10:23This is basically an ordnance survey map of the old mines.
0:10:23 > 0:10:28They stopped mining probably about 200 years ago, but this lists where
0:10:28 > 0:10:31all the mine shafts and the air shafts were in the area.
0:10:31 > 0:10:35- It does say air shaft in the garden. - It was, there was an air shaft.
0:10:35 > 0:10:38- Bit of a worry?- No, not at all.
0:10:38 > 0:10:42We know where it is. It's not... As long as you don't jump down it you're fine.
0:10:43 > 0:10:47Yes, bottomless pits and property development are not words I like
0:10:47 > 0:10:54in the same sentence, but as £338,000 has already been spent,
0:10:54 > 0:10:57I reckon the money could drain away here.
0:10:57 > 0:10:59- So, here we are, you've bought it. - Yes.
0:10:59 > 0:11:01So, what next? What's the plans?
0:11:01 > 0:11:07Next plan is to get the drive sorted and a garage, just to make it easy to use.
0:11:07 > 0:11:11- OK.- And just tidy it up, make the kitchen usable, the bathroom usable.
0:11:11 > 0:11:16- In the longer term?- Long term, extension, additional bedroom,
0:11:16 > 0:11:18make the kitchen a bit bigger.
0:11:18 > 0:11:23Shall we go outside and take a look at the plans you've got for the bigger picture stuff out there?
0:11:23 > 0:11:25- Let's do that.- OK. After you.
0:11:28 > 0:11:31So the plan is for a two-stage refurbishment.
0:11:31 > 0:11:37First, make the cottage habitable, with a new drive and move in, then build an extension.
0:11:37 > 0:11:41The initial plan is to do the drive and the garage and then just open up
0:11:41 > 0:11:44so we've got plenty of space to drive in, turn and drive out.
0:11:44 > 0:11:48- OK.- And then a double garage. - Plans for a double garage.
0:11:48 > 0:11:51- That's some internal pictures. - That's nice.
0:11:51 > 0:11:54So double garage and, hopefully, a kind of a storage room.
0:11:54 > 0:11:56- Above?- Above.- OK.- If possible.
0:11:56 > 0:12:00- So then, this is what?- OK, this is going to be the ground floor.
0:12:00 > 0:12:04The major thing is the extension on the back, making the kitchen larger.
0:12:04 > 0:12:08- Where is the current kitchen? - The current kitchen is this small section.- OK.
0:12:08 > 0:12:11So we drop the whole lot down to ground level,
0:12:11 > 0:12:17- because currently the kitchen is raised up a couple of steps. - And this is two floors, isn't it?
0:12:17 > 0:12:22Yes, and we go up to the first floor, additional bedroom, walk-in wardrobe and an
0:12:22 > 0:12:26en suite and keep the current layout - the bedrooms and bathroom. We'll add that.
0:12:26 > 0:12:31So why extend out that back rather than just over the, sort of, patio area where we are now?
0:12:31 > 0:12:36Going out the back is going to need us to shift a lot of earth and probably quite costly,
0:12:36 > 0:12:42but we've got options to come out this end, but we think we're going to ruin the fun aspect
0:12:42 > 0:12:47of the building and the character of it by doing that, so we can try and push as much behind as possible.
0:12:47 > 0:12:50- That's what we want to try and do. - Good luck with it all.- Thank you.
0:12:50 > 0:12:55- You've got a great starting point with the location and the house. - It's beautiful.
0:12:55 > 0:12:59# You are so beautiful
0:13:01 > 0:13:03# To me... #
0:13:03 > 0:13:07Well, what a glorious property Guy and his wife are going to have
0:13:07 > 0:13:10as their family home, it really is a nice end to the story.
0:13:10 > 0:13:14Not intending to do too much to it to start off with, just making
0:13:14 > 0:13:18it liveable in and then enjoy living in this glorious spot.
0:13:18 > 0:13:21Find out how they get on later in the show.
0:13:36 > 0:13:42I'm in Kent today, the garden of England, and I've come to a very pretty village called Wye.
0:13:42 > 0:13:46There's rivers, lush green fields and country pubs everywhere.
0:13:46 > 0:13:50It's amazingly picturesque and I really do love it.
0:13:50 > 0:13:52# I can't tell you why... #
0:13:52 > 0:13:55It just doesn't get much better than this, does it?
0:13:55 > 0:13:59Ducks waddling, brooks babbling and a community thriving.
0:13:59 > 0:14:01It's a truly special place.
0:14:01 > 0:14:08This is Bridge Street, just four miles from Ashford, and I've come to see a commercial property today.
0:14:08 > 0:14:11Now originally, it was an agricultural building
0:14:11 > 0:14:14and more recently it's been used as a florists.
0:14:14 > 0:14:20Well, here it is, it's a substantial double fronted shop and it looks just great from where I'm standing.
0:14:20 > 0:14:24# Window shopping
0:14:24 > 0:14:27# Just window shopping
0:14:27 > 0:14:31# You're only looking around... #
0:14:31 > 0:14:37If you wanted to do more than window shop and actually buy the whole shop
0:14:37 > 0:14:42the price tag was guided at £130,000 to £140,000.
0:14:43 > 0:14:47Wow, this really is an incredible space.
0:14:47 > 0:14:50I just love the way these old aged beams sit
0:14:50 > 0:14:56next to the new oak joinery in here, and it smells just really lovely.
0:14:56 > 0:14:59You've got these beautiful slate floors in here
0:14:59 > 0:15:04and this wonderful large double-fronted open window here.
0:15:04 > 0:15:07Now, this is great for light, but on the business front,
0:15:07 > 0:15:11it's ideal to showcase whatever's going to be in the shop.
0:15:11 > 0:15:17I tell you what, this really could suit any business and they could start up almost immediately.
0:15:17 > 0:15:19A big thumbs up for this one.
0:15:21 > 0:15:24Yes, this really does get my stamp of approval.
0:15:24 > 0:15:30It has got bags of character and all the services installed to run a modern business.
0:15:30 > 0:15:34And as it's only recently been vacated, it's all in pretty good order.
0:15:41 > 0:15:45You also have the bonus of this pretty little garden and, from here,
0:15:45 > 0:15:49you can really see how incredible that roof is.
0:15:49 > 0:15:52Now it's not a listed building, but it is in a conservation area
0:15:52 > 0:15:57and that's probably why this roof has been so well-maintained. That's the good news.
0:15:57 > 0:16:03The bad news is if you wanted to change this building in any way you could have problems.
0:16:03 > 0:16:07Now, I know that three years ago planning permission was refused
0:16:07 > 0:16:10for a new oak framed porch out the front, so anyone taking
0:16:10 > 0:16:17this on with alterations in mind, would be wise to make the necessary enquiries before auction day.
0:16:17 > 0:16:20I think as it stands this is more suitable as a
0:16:20 > 0:16:27commercial property, but I would try and use the garden space, perhaps with a tearoom or cafe, for example.
0:16:27 > 0:16:29What does the local estate agent reckon?
0:16:37 > 0:16:41I believe it would appeal to a niche market, rather than the broader one.
0:16:41 > 0:16:43Also, they're quite small premises,
0:16:43 > 0:16:48so I think it would be, perhaps a business that did mail order
0:16:48 > 0:16:50or quite a lot of online marketing,
0:16:50 > 0:16:55but wanted an attractive base that people can visit.
0:16:55 > 0:16:59Michael is dead right. The history here of barbers and florists
0:16:59 > 0:17:03suggest it's not the easiest place to set up a commercial venture.
0:17:03 > 0:17:06Still, it is in a good part of a vibrant village,
0:17:06 > 0:17:10so surely it could attract business and have some value?
0:17:10 > 0:17:14The annual rental value for premises such as these
0:17:14 > 0:17:18would be in the range of about £7,000 per annum.
0:17:18 > 0:17:21The sort of top figure would be eight and a half,
0:17:21 > 0:17:24but I would be surprised if you achieved as much as that.
0:17:24 > 0:17:27If I was asked to put these premises on the market,
0:17:27 > 0:17:30I'd recommend an asking price in the region of £150,000.
0:17:31 > 0:17:38At what was a guide price of 130,000, this isn't a property that's going to make you a fortune.
0:17:38 > 0:17:43Any profit is more likely to be made from the business that uses these premises.
0:17:45 > 0:17:49The commercial unit has a great high street location.
0:17:49 > 0:17:53It's also affordable and in a good state of repair.
0:17:53 > 0:17:59This property could work for any type of business and so, I think, it's a good one to go for.
0:17:59 > 0:18:01Let's see the auction.
0:18:04 > 0:18:06Lot 109 is
0:18:06 > 0:18:09100 Bridge Street, Wye, near Ashford.
0:18:09 > 0:18:12It's a vacant, detached, commercial premises.
0:18:12 > 0:18:15And what may I say, £130,000, to start?
0:18:15 > 0:18:18120? 120, I have, thank you.
0:18:18 > 0:18:22£120,000 is bid, 122, 124,
0:18:24 > 0:18:25126?
0:18:25 > 0:18:27126.
0:18:27 > 0:18:31And 128. And 130?
0:18:31 > 0:18:34130 is bid. 132?
0:18:36 > 0:18:40£130,000, I am bid, the lady's bid at £130,000.
0:18:40 > 0:18:42131, do I see?
0:18:42 > 0:18:45Going for the first time, then, at 130,
0:18:45 > 0:18:48for the second time at 130,000,
0:18:48 > 0:18:51for a third and final time, at 130,000,
0:18:51 > 0:18:53the two ladies on my left. Are you all done?
0:18:53 > 0:18:57Sold at 130,000. Congratulations.
0:18:57 > 0:19:01For right on the guide price of 130,000, the new owners of the
0:19:01 > 0:19:05commercial space in Wye are friends Kate and Danni.
0:19:05 > 0:19:09Both live locally, in fact Kate's house is just across the road.
0:19:09 > 0:19:12They thought this too good an opportunity to miss.
0:19:16 > 0:19:18Ladies, congratulations.
0:19:18 > 0:19:21You must be so excited?
0:19:21 > 0:19:24- Yeah.- It's fantastic.
0:19:24 > 0:19:26Why do you want this?
0:19:26 > 0:19:29- Well...- Good question.
0:19:29 > 0:19:33I have always wanted to have my own business and I have been thinking
0:19:33 > 0:19:39various ideas for a few months and I'd always thought that a shoe shop
0:19:39 > 0:19:44in the village would be great - a children's shoe shop - and then this came up and you...
0:19:44 > 0:19:45- I e-mailed you, didn't I?- Mm.
0:19:45 > 0:19:48Saying maybe we could do something together
0:19:48 > 0:19:51and then I got back from holiday, to an e-mail from Kate saying,
0:19:51 > 0:19:57"Oh, there's a shop", and this was the Tuesday and the auction was on Friday and I said, "Right, OK."
0:19:57 > 0:20:03And we went for a run and by the time we'd come back from the run we're going, "Let's go for it."
0:20:03 > 0:20:08Kate and Danni have three children each and met through the children going to the same school.
0:20:08 > 0:20:14Despite working already, Kate editing a website and Danni in leadership development training,
0:20:14 > 0:20:16both were looking for a new challenge.
0:20:16 > 0:20:18They've certainly got one here.
0:20:21 > 0:20:23So Kate, tell me why a shoe shop.
0:20:23 > 0:20:28Well, children's shoes, you can't buy them on the internet,
0:20:28 > 0:20:33because you've got to have your children's feet measured and there's a school right next door.
0:20:33 > 0:20:36Have you thought of a nice name for the shop?
0:20:36 > 0:20:40We have, yes. We're going to call it the Elves and the Shoemaker.
0:20:40 > 0:20:41Fantastic.
0:20:42 > 0:20:48Kate and Danni seem to have it all worked out, but they are starting a business during a recession,
0:20:48 > 0:20:54so they're going to need more than just an enticing name to bring customers into their fairy grotto.
0:20:54 > 0:20:59So how will it look internally for little children outside to want to come in and buy their shoes?
0:20:59 > 0:21:04Well, we're going to have, hopefully, it's all up in the air, but my plan is,
0:21:04 > 0:21:09and, hopefully, Danni's as well, little toadstool stools,
0:21:09 > 0:21:14like mushrooms, you know red with white spots on, and sort of make it
0:21:14 > 0:21:21an elfin environment, so that it's a beautiful place that people come in and go, "Oh, it's so lovely here."
0:21:21 > 0:21:24Now girls, what about something for the yummy mummies?
0:21:24 > 0:21:28Because you know how it is, we all buy our children shoes.
0:21:28 > 0:21:30You're not the first to say that.
0:21:30 > 0:21:32Are you going to have a nice section for the mums?
0:21:32 > 0:21:35Yeah, well you're not the first person to ask us that.
0:21:35 > 0:21:37It's something we're thinking about.
0:21:37 > 0:21:39We're getting research feedback!
0:21:39 > 0:21:43I think they will need to keep all their options open.
0:21:43 > 0:21:46They're trying to start a retail enterprise at a time when small
0:21:46 > 0:21:49businesses are struggling and many going under.
0:21:49 > 0:21:53They will need to find as many ways as possible to attract customers,
0:21:53 > 0:21:57after all they are dependent on walk-in trade.
0:21:57 > 0:21:59How are you going to cope? Busy working mums.
0:21:59 > 0:22:02- Yes, we are. - Six kids between you.
0:22:02 > 0:22:04- Yes.- Yes.- How's that going to work?
0:22:04 > 0:22:08- Well, luckily they all get on... - Yes.
0:22:08 > 0:22:10They all go to school together, so if we're in the shop
0:22:10 > 0:22:12one of us could collect them.
0:22:12 > 0:22:17One of the benefits of going into business together is that we can share some of the responsibility
0:22:17 > 0:22:21and being that we are mums, we also want to be able to have time with our kids.
0:22:21 > 0:22:24So what do your children think of your new business venture?
0:22:24 > 0:22:27- They're very excited.- Very excited.
0:22:27 > 0:22:30And above all, the girls want pink sparkly shoes.
0:22:30 > 0:22:31- Well...- Not yours.
0:22:31 > 0:22:34Your daughter. My daughter's a different kettle of fish.
0:22:34 > 0:22:36And how do your partners feel?
0:22:36 > 0:22:37Are they completely
0:22:37 > 0:22:41- up for this and supportive? - Yeah absolutely, really...- Yep.
0:22:41 > 0:22:42Really positive about it.
0:22:42 > 0:22:46I don't...I wouldn't have done it if my husband wasn't supportive.
0:22:46 > 0:22:49So is it about starting up a business or is it about the shoes?
0:22:49 > 0:22:51Well, interesting question.
0:22:51 > 0:22:53- Both.- Both. Definitely both.
0:22:53 > 0:22:57You're going to have to have fabulous shoes now you work in a shoe shop.
0:22:57 > 0:23:00- Yes.- Of course.- That's what I keep telling my husband.
0:23:01 > 0:23:06It seems that everyone's fully behind Danni and Kate as they step into their new business venture.
0:23:06 > 0:23:11There's £10,000 budget to fit out the shop and add some storage space at the back.
0:23:11 > 0:23:16They have most things in place to kick-start this former florist
0:23:16 > 0:23:19and cobble it into an enchanting pixie paradise.
0:23:20 > 0:23:27Buying commercial property next door to a school and turning it into a children's shoe and accessory shop,
0:23:27 > 0:23:30well, it's a savvy move, you're guaranteed passing trade.
0:23:30 > 0:23:36Now having said that, the girls have taken a lot on with this and they are jumping into the unknown.
0:23:36 > 0:23:39Will the tills be ringing when we return?
0:23:39 > 0:23:42Well, you can find out later on in the programme.
0:23:43 > 0:23:46Coming up, I'm off to the seaside.
0:23:46 > 0:23:51Next stop that way is Ireland, but my property quest is taking me that way.
0:23:53 > 0:23:59Back in the pretty village of Wye in Kent, has Kate and Danni's shoe shop put its best foot forward?
0:23:59 > 0:24:03It's a beautiful place that people come in and go, "Oh, it's so lovely."
0:24:05 > 0:24:06First, in Cheshire...
0:24:06 > 0:24:10Just as they were finished and we were about to get into the real work
0:24:10 > 0:24:13that's when I found out that Sophia was on her way.
0:24:16 > 0:24:18I'm selling to the highest bidder...
0:24:18 > 0:24:21Earlier in the programme, Guy and Victoria bought this
0:24:21 > 0:24:28beautiful 200-year-old cottage in the Cheshire village of Higher Poynton, for 338 grand.
0:24:28 > 0:24:33It was going to be their new home, but with one acre, plans for an extension and a new garage,
0:24:33 > 0:24:38we've left them 11 months before coming back to see the result.
0:24:42 > 0:24:45Well, inside the cottage has been lovingly restored,
0:24:45 > 0:24:49with plenty of original character features still in evidence.
0:25:00 > 0:25:04It all contrasts very well with the sophisticated new equipment
0:25:04 > 0:25:07that's been installed in the bathroom and the kitchen.
0:25:10 > 0:25:13And the old saying, 'new house, new baby,'
0:25:13 > 0:25:16can't have left Guy much time to put his feet up.
0:25:19 > 0:25:20Oh, it's been super busy.
0:25:20 > 0:25:23Um, initially we had all the electrics and plumbing done
0:25:23 > 0:25:28before we moved in and that took longer than I expected, like most things in this house.
0:25:28 > 0:25:32Just as they were finished and we were about to get into the real work
0:25:32 > 0:25:36that's when I found out Sophia was on her way.
0:25:36 > 0:25:41So then I was, um, well, you were one man down, really.
0:25:41 > 0:25:45Yeah, basically I lost my main labourer, so...(!)
0:25:45 > 0:25:50So the pressure was on for Guy, as the timescales had shifted.
0:25:50 > 0:25:53Although he employed tradespeople for the plumbing,
0:25:53 > 0:25:58electrical work and some joinery, he had to get the house ready for Victoria and their new baby.
0:25:58 > 0:26:00That meant a change of plan.
0:26:02 > 0:26:07The reason why we've not extended, initially, is because of Sophia and we needed to get the house ready
0:26:07 > 0:26:12and we don't actually need that extra room.
0:26:12 > 0:26:15It's still on the cards, for possible, in the future,
0:26:15 > 0:26:18but we're concentrating on getting everywhere functional.
0:26:22 > 0:26:25So, which of the rooms is Victoria most pleased with?
0:26:25 > 0:26:29Well, I have to say favourite rooms rather than favourite room
0:26:29 > 0:26:32because the dining room is something I really love, the old stove
0:26:32 > 0:26:36and the space, so we can have lots of people round and entertain.
0:26:36 > 0:26:43But the kitchen, I'm really happy with. We had to do it quite quickly, because the baby was on the way
0:26:43 > 0:26:47and we've managed to source everything locally and get the granite exactly how we wanted it.
0:26:47 > 0:26:53Got my big range cooker, got my Belfast sink and, eventually,
0:26:53 > 0:26:55we'll get a herb garden and breakfast area out there.
0:26:55 > 0:26:59Combined with the dining room, I think it's going to be a really good
0:26:59 > 0:27:02space and something I'm really happy with.
0:27:03 > 0:27:08It was Guy and Victoria's decision to delay building the extension,
0:27:08 > 0:27:13but it was the planning department who put a stop to their new garage on the grounds of its height.
0:27:13 > 0:27:19Guy's currently getting feedback from the council, but one problem has been laid to rest.
0:27:22 > 0:27:26When you were here last, we had a lot of the flagstones stolen, so what I've done is
0:27:26 > 0:27:31just grouped together everything we had and lugged what was left and then with the stone,
0:27:31 > 0:27:34we've utilised it where we could do. With the flagstones, we've had them
0:27:34 > 0:27:39filled in with the tarmac, which has made it look pretty well.
0:27:39 > 0:27:43We've utilised as much from the site, without bringing in new material.
0:27:43 > 0:27:46# Show me the money... #
0:27:46 > 0:27:48Good news - environmentally and financially.
0:27:48 > 0:27:53A project like this, even without the extension and garage, is never going to be cheap.
0:27:53 > 0:28:00Now remember, they paid £338,000 on auction day, so how's the budget holding up?
0:28:00 > 0:28:05Money-wise, because it's our home, not a business project,
0:28:05 > 0:28:07we haven't kept track of how much we've spent.
0:28:07 > 0:28:10- Erm...I honestly don't know. - No, we don't know.
0:28:10 > 0:28:13# Why don't you show me the money?.. #
0:28:13 > 0:28:17Well, roughly are we saying 40,000?
0:28:17 > 0:28:22- Probably, I don't know. - With the outside work, it's probably
0:28:22 > 0:28:26around that mark, but we didn't, we've done everything we wanted to.
0:28:26 > 0:28:29Because Guy's done so much of the work himself,
0:28:29 > 0:28:31that reduced the cost.
0:28:34 > 0:28:37How will two property experts estimate
0:28:37 > 0:28:39the worth of Worth Cottage?
0:28:42 > 0:28:46It was a very run-down cottage, very damp
0:28:46 > 0:28:49and it needed, obviously, a lot of money spending on it.
0:28:49 > 0:28:51Now, it's transformed, really.
0:28:51 > 0:28:57They've kept the character, but at the same time improved it and smartened the whole thing up.
0:28:57 > 0:28:59What I like about the actual property itself
0:28:59 > 0:29:02is you can see this nice combination
0:29:02 > 0:29:06of the old character mixed in with the modern.
0:29:06 > 0:29:09A lot of properties like this need heaps of work doing on them.
0:29:09 > 0:29:11Here it's done. Speaks for itself.
0:29:14 > 0:29:15I think they like it.
0:29:15 > 0:29:19Guy paid £338,000 and has budgeted around £40,000,
0:29:19 > 0:29:24making an approximate £380,000 total spend.
0:29:24 > 0:29:27How much would the experts advertise it for if they were selling it?
0:29:27 > 0:29:33Bearing in mind the position, the appearance of the property, the quality of the finish, gardens,
0:29:33 > 0:29:37I would see a realistic value being in the region of 450.
0:29:37 > 0:29:42I guess we'd probably be looking at something in the region of 450,000, at the moment.
0:29:42 > 0:29:50£70,000 gross profit. Worth Cottage has been well "worth" the work.
0:29:50 > 0:29:55Yeah, that's really good, really good, with the way the market is.
0:29:55 > 0:29:57That's, yeah, it's good.
0:29:57 > 0:30:02- And what's the plan for the future? - Well, the plan is to finish, we're only 80%
0:30:02 > 0:30:06or 90% complete inside and we've got loads to do outside.
0:30:06 > 0:30:09- The next thing will be probably to build a garage...- Yeah.
0:30:09 > 0:30:11..once planning permission comes through.
0:30:11 > 0:30:14Something is just the space that we have.
0:30:14 > 0:30:17So many people aren't moving, they're extending their houses,
0:30:17 > 0:30:20we could extend and extend and still have lots of space.
0:30:20 > 0:30:25So many big houses have lost the gardens, the garages, the drives,
0:30:25 > 0:30:28and we have all that, which I think is why I love it so much.
0:30:28 > 0:30:33# You are so beautiful... #
0:30:33 > 0:30:35Love is in the air, here.
0:30:35 > 0:30:38I reckon Guy has picked a blooming great property,
0:30:38 > 0:30:41worth every penny.
0:30:57 > 0:31:01These days, it seems we spend our days just surfing the internet,
0:31:01 > 0:31:06but a move to the village of Northam, near Bideford in North Devon,
0:31:06 > 0:31:09could see you riding the waves for real.
0:31:09 > 0:31:16Welcome to the northwest coast of Devon and a wild and beautiful place it is, indeed.
0:31:16 > 0:31:20Next stop that way is Ireland, but my property quest is taking me that way.
0:31:25 > 0:31:29After a gentle stroll on the beach, I pass the golf course
0:31:29 > 0:31:34and head into town as today's auction property comes into view.
0:31:34 > 0:31:39The approach to this property might not be quite as exciting or beautiful as that beach scene
0:31:39 > 0:31:43I've just left behind. However, it's all in the eyes of the beholder.
0:31:43 > 0:31:46I've done a bit of research and the property that was up for auction
0:31:46 > 0:31:48sold a few years ago for £120,000.
0:31:48 > 0:31:51Well, it's guide price was 65,000.
0:31:51 > 0:31:53That's a 45% reduction.
0:31:53 > 0:31:56Now I know prices have dropped around here, but not by that much.
0:31:57 > 0:32:02To put it another way, you could almost buy two of these houses now
0:32:02 > 0:32:05for the price you would have paid for one two years ago.
0:32:05 > 0:32:08OK, it's not the prettiest I've ever come across,
0:32:08 > 0:32:13but at £65,000 for a house with sea views, it seems pretty attractive to me.
0:32:16 > 0:32:18So, what have we got?
0:32:18 > 0:32:21Well, nice surprise, actually.
0:32:23 > 0:32:25Look at this, the kitchen looks reasonable new.
0:32:25 > 0:32:28Yes, it needs a bit of finishing off,
0:32:28 > 0:32:30but overall, it's not a bad start.
0:32:35 > 0:32:37This all looks extremely promising.
0:32:37 > 0:32:42There's a good size kitchen come diner, that just needs finishing off.
0:32:46 > 0:32:49There's a very decent-sized lounge,
0:32:49 > 0:32:52although the fireplace plainly needs to go,
0:32:52 > 0:32:55but the fire itself could stay.
0:32:59 > 0:33:03With the addition of a cloakroom, the downstairs area is really encouraging.
0:33:03 > 0:33:08I'm even more heartened when I go upstairs, because someone's been busy here.
0:33:08 > 0:33:14All three bedrooms are in good order and there's a perfectly serviceable bathroom.
0:33:18 > 0:33:21Then, of course, there are those views.
0:33:22 > 0:33:25That really is the icing on the cake.
0:33:25 > 0:33:28It's a great little house. I'm struggling to find anything wrong with it.
0:33:28 > 0:33:33Yes, the kitchen needs sorting out, you want to have the boiler checked and possibly replaced,
0:33:33 > 0:33:37bit of painting here and there, but none of that's going to break the bank.
0:33:40 > 0:33:44But am I missing something? Because, quite frankly,
0:33:44 > 0:33:46this looks a little too good to be true.
0:33:46 > 0:33:49What does the auctioneer who sold it think?
0:33:49 > 0:33:51Is there very much to be done here?
0:33:51 > 0:33:55It really is minor cosmetics as they say.
0:33:55 > 0:34:00Might just play with one of the bedroom walls
0:34:00 > 0:34:05to make your back double bedroom a better size,
0:34:05 > 0:34:08but it's just stud, you could just slide it over virtually.
0:34:08 > 0:34:13You'd have to work hard to spend £2,000-£3,000 in there.
0:34:13 > 0:34:20With that low spend, what could this house, guided at only £65,000, be worth?
0:34:20 > 0:34:23You'd probably get over £100,000 for it.
0:34:23 > 0:34:27So even in today's market this looks fantastic value.
0:34:27 > 0:34:31Could it also make its mark on the rental market?
0:34:32 > 0:34:38If you worked on £500 per calendar month, you're never going to be too far away
0:34:38 > 0:34:42so if you buy it and it stands you in at £75,000, you'll get an 8% return.
0:34:42 > 0:34:45That's a good return in anybody's book.
0:34:49 > 0:34:55Well, all in all, a great little property and with little work to do
0:34:55 > 0:34:58and even less to spend, potentially quite a lucrative one.
0:34:58 > 0:35:02If you rent this out, you'll get more than by leaving your money in the bank.
0:35:02 > 0:35:05So let's see who spotted it in the auction catalogue.
0:35:08 > 0:35:11Lot 47...
0:35:11 > 0:35:16So we know that's going to make at least 60-something.
0:35:16 > 0:35:21So who's going to say £60,000 just to get it going?
0:35:21 > 0:35:24Nobody going to be happy at 60? Thank you sir, fantastic.
0:35:24 > 0:35:2760 we've got. 60 in the front row, at 60 we've got, at 60.
0:35:27 > 0:35:28At 60,000, front row has it.
0:35:28 > 0:35:3261, thank you. 62. That's it, what polite people!
0:35:32 > 0:35:3462. That's it. You're not local, are you, sir? I know.
0:35:34 > 0:35:40At 62, 62, 63, 63, 64.
0:35:40 > 0:35:44At 64. You just talk to him, look, that's fine.
0:35:44 > 0:35:4965, 66, 66, 66.
0:35:49 > 0:35:50At 66, it's sat.
0:35:50 > 0:35:5367, do I have? 67, 68.
0:35:53 > 0:35:56At 68.
0:35:56 > 0:35:5969, please, 69, 70. At 70, at 70.
0:35:59 > 0:36:0470, I've got a fresh lady bidder... Better finish that sentence quickly.
0:36:04 > 0:36:10At 71? 71. 72.
0:36:10 > 0:36:1673, madam? 73, 74, 74's here. 74.
0:36:16 > 0:36:20Keeping in touch as it were, 74. 75.
0:36:20 > 0:36:26We've got a six, we've got 76, hear what we're saying, 76, 77. At 77, at...
0:36:26 > 0:36:3277.5, 77.5,
0:36:32 > 0:36:3678, at 78, 78.5.
0:36:36 > 0:36:3978.5 is the chap here, 79?
0:36:39 > 0:36:44You've made your decision? 79, 79, 79. At 79 once,
0:36:44 > 0:36:49twice, third and last time. Here we go, it's on my right, being sold at £79,000. All done.
0:36:49 > 0:36:51Well done. Well done.
0:36:52 > 0:36:55'After that hard-fought battle, it appears the new owners
0:36:55 > 0:36:59'of the three-bedroomed property in the Devon village of Northam
0:36:59 > 0:37:01'are local couple Dave and Jackie.
0:37:01 > 0:37:04'Or are they?'
0:37:05 > 0:37:09Jackie, Dave, lovely to meet you. Congratulations. This is a great little house.
0:37:09 > 0:37:12- We like it. - Tell me why you wanted to buy it.
0:37:12 > 0:37:17It's basically for our daughter and her partner and this will be their first home together.
0:37:17 > 0:37:23Aw! So how did you get involved with sort of sorting them out a house?
0:37:23 > 0:37:26We came home from St Lucia and my daughter said,
0:37:26 > 0:37:30"Oh, I've seen a property that I might like the look of."
0:37:30 > 0:37:32We said, "Let's have a look."
0:37:32 > 0:37:36So we went and had a look and then we bought it the following day.
0:37:36 > 0:37:39We went to the auction and bid.
0:37:39 > 0:37:43Right, so are they buying it or are you buying it for them?
0:37:43 > 0:37:49Their top budget was £75,000 and we agreed that we'd put anything over and above
0:37:49 > 0:37:54that we felt that they could go to so we got it at £79,000.
0:37:54 > 0:37:57- So you're...- So we're paying a little bit for them towards it.
0:37:57 > 0:38:01- Just £4,000, nothing else.- The rest they've saved and got together the money?
0:38:01 > 0:38:06Yeah. It's a struggle to get any property for youngsters these days
0:38:06 > 0:38:13and it's the right time, the right property, the right place, everything is good about it.
0:38:13 > 0:38:15I think they're right.
0:38:15 > 0:38:21If you can get over that hurdle of finding the money to buy, property prices are now extremely competitive.
0:38:21 > 0:38:25For the first time in years, new buyers can get on that property ladder.
0:38:25 > 0:38:32So with these lower prices, there was an opportunity for their daughter Kaylee
0:38:32 > 0:38:35and her boyfriend Jay to get their first home together.
0:38:35 > 0:38:39Both these trainee accountants had done their sums
0:38:39 > 0:38:42and for them buying this place really added up.
0:38:48 > 0:38:53- Kaylee, Jay, lovely to meet you both. How do you feel about what's happened here?- Excited really.
0:38:53 > 0:38:59Saw it on the internet, well, Kaylee found it,
0:38:59 > 0:39:06came to look at it, the auction was the next day, we were both at work so had to send parents.
0:39:06 > 0:39:11So for your first house to buy at auction, what sort of prompted you towards that, Kaylee?
0:39:11 > 0:39:13It was just a house that was fairly cheap,
0:39:13 > 0:39:17reasonably cheap in comparison to what we'd been looking at.
0:39:17 > 0:39:20Flats in Barnstaple were much more expensive,
0:39:20 > 0:39:23so a three-bedroomed house at this price was fantastic.
0:39:23 > 0:39:26You bought at a good price basically.
0:39:26 > 0:39:29Yeah, hopefully sell it at a better price.
0:39:29 > 0:39:32That's the accountant speaking for sure.
0:39:32 > 0:39:36'In the long term, Kaylee and Jay may see this as a stepping stone
0:39:36 > 0:39:41'to buying other houses but it's their short-term plan I'm interested in now.'
0:39:45 > 0:39:47Tell me then what you're going to do to it.
0:39:47 > 0:39:53Put in new carpets right through, rip out the fire and paint really.
0:39:53 > 0:39:56- And who's going to do the work? - We are.- Yeah.
0:39:56 > 0:40:03- You say that slightly nervously. - I'm not really a painter and decorator myself but...- We'll learn.
0:40:03 > 0:40:05Yeah. Steep learning curve.
0:40:05 > 0:40:10'Kaylee and Jay have given themselves quite a reasonable £5,000 budget.
0:40:10 > 0:40:12'That should be fine here I'd have thought.
0:40:12 > 0:40:15'Certainly for starters anyway.'
0:40:15 > 0:40:18- Where are you going to live in the meantime?- Here.- Oh, really?- Yeah.
0:40:18 > 0:40:22We'll move round from room to room, do one room, move into the next.
0:40:22 > 0:40:24So when do you actually move in?
0:40:24 > 0:40:27- This afternoon. Today.- Today?
0:40:27 > 0:40:29- Yeah, today.- Oh, fantastic.
0:40:29 > 0:40:35- So have you got the bottle of champagne ready?- It's ready.- Yeah.- No fridge to put it in but it's there.
0:40:36 > 0:40:40'How exciting, the first night in their new home.
0:40:44 > 0:40:49'At just 19, they have a three-bedroomed house with sea views.'
0:40:52 > 0:40:55'They've certainly got lots to celebrate.'
0:40:59 > 0:41:04Well, what a great story, Kaylee and Jay in their first house
0:41:04 > 0:41:08with a bit of help from Mum and Dad and some research on the internet.
0:41:08 > 0:41:11They do seem a bit daunted about doing the work
0:41:11 > 0:41:15but I think that will be overtaken by the excitement of having their own place.
0:41:15 > 0:41:18How are they going to get on? Find out later in the show.
0:41:21 > 0:41:25Well, we've given them a while but will it be long enough?
0:41:25 > 0:41:28Will we return to super stories of success
0:41:28 > 0:41:32- or stress and spiralling budgets? - Let's find out.
0:41:32 > 0:41:39In the picturesque village of Wye in Kent, life takes at a slower, more leisurely pace
0:41:39 > 0:41:46but for local ladies Kate and Danni, it's far from business as usual.
0:41:46 > 0:41:53They've decided to leap into a new venture by buying a former florist's shop for 130,000.
0:41:56 > 0:41:58Why do you want this?
0:41:58 > 0:42:01- Well...- Good question.
0:42:01 > 0:42:06I have always wanted to have my own business and I'd always thought a shoe shop in the village
0:42:06 > 0:42:08would be great - a children's shoe shop.
0:42:08 > 0:42:12- Have you thought of a nice name? What's it going to be called? - We have, yeah.
0:42:12 > 0:42:16- We're going to call it The Elves And The Shoemaker.- Fantastic.
0:42:17 > 0:42:24So a full nine months later, have the elves and pixies been busy and got the place ready for business?
0:42:24 > 0:42:26Well, the signs are promising.
0:42:35 > 0:42:39The shop is ideally located because it's right next door to a primary school
0:42:39 > 0:42:44so children are walking past twice a day, mothers coming to collect their children,
0:42:44 > 0:42:47they're going to see beautiful shoes in the window,
0:42:47 > 0:42:54lots of fantastic accessories, really changing displays, lights,
0:42:54 > 0:42:55there's going to be a lot to look at,
0:42:55 > 0:42:59so as they go to and from school, they're going to want to come in.
0:43:02 > 0:43:05What will they find once they're inside?
0:43:21 > 0:43:28In our experience, shopping for children's shoes can be tedious and the shops aren't very inspiring
0:43:28 > 0:43:33so we wanted to move away from that and provide a fun experience for children
0:43:33 > 0:43:37so that they'd say "Oh, let's go to that shop where they've got toys
0:43:37 > 0:43:41"and they've got writing on the wall and they've got little elves all round the place."
0:43:55 > 0:44:00It looks to me as though Kate and Danni have certainly achieved what they set out to do.
0:44:00 > 0:44:04They've created a magical but practical space.
0:44:12 > 0:44:16So, if you remember, when we bought the property, this was all open plan,
0:44:16 > 0:44:20and there was a space in there and what we've done is we've closed it off
0:44:20 > 0:44:23and created storage space for all our shoes
0:44:23 > 0:44:29and we've got shelves in there and we've also closed off the window so we can have a window display.
0:44:29 > 0:44:31And we've got more storage space out the back.
0:44:31 > 0:44:37One thing about having a children's shoe shop obviously is that we need space to store all the shoes.
0:44:37 > 0:44:39We're pleased with what we've done here
0:44:39 > 0:44:41because not only have we created storage space
0:44:41 > 0:44:44but we've also maintained a very big space for the shop itself.
0:44:44 > 0:44:48Lots of space for children to come in and feel welcome.
0:44:48 > 0:44:51'The grand opening is due in a few days' time.
0:44:51 > 0:44:56'Danni and Kate pooled their skills and along with a few elves and shoemakers
0:44:56 > 0:44:59'have done much more than just cobble something together.
0:44:59 > 0:45:02'But with three children each plus other commitments,
0:45:02 > 0:45:06'it's been a balancing act to get the shop to this stage.'
0:45:06 > 0:45:09I stopped the work that I was doing in order to focus on this
0:45:09 > 0:45:14and I live across road so it's been very easy for me to come in when the builder's here
0:45:14 > 0:45:18or when the electricians are here and just check up on how things have been going.
0:45:18 > 0:45:22I have another business that I run, a training business, which I'm still doing
0:45:22 > 0:45:26and so I've been doing some of that and coming home
0:45:26 > 0:45:29and working with Kate on the things that we need to do here.
0:45:29 > 0:45:34Kate has been the on-site supervisor but kept Danni informed throughout.
0:45:34 > 0:45:38A local builder was responsible for most the structural changes.
0:45:38 > 0:45:41So who created the overall look?
0:45:41 > 0:45:47Kate's more into style, I think, and she has the ideas specifically in terms of the interior of the shop.
0:45:47 > 0:45:49She's had lots of the ideas.
0:45:49 > 0:45:53And I have a friend who's a graphic designer and she very kindly came up the logo,
0:45:53 > 0:45:56she's designed the house we've got in the window
0:45:56 > 0:46:00and the tree which is painted on another window,
0:46:00 > 0:46:03and the picture at the back of the shop.
0:46:03 > 0:46:06But the shoes, the stock, we chose together.
0:46:06 > 0:46:10So we went to all the meetings with the suppliers and we discovered
0:46:10 > 0:46:13that we have largely very similar taste, which is a good thing, mostly,
0:46:13 > 0:46:16provided we have customers who like what we like.
0:46:16 > 0:46:19With help from a furniture-maker and family and friends,
0:46:19 > 0:46:22they've created the style they were after.
0:46:22 > 0:46:25But getting to this point has come at a cost.
0:46:27 > 0:46:31When we started out we weren't really sure, you know, what everything cost
0:46:31 > 0:46:34so I think we did say around 10,000 but we weren't very clear,
0:46:34 > 0:46:37but what we have spent has been 20,000.
0:46:37 > 0:46:41But we don't foresee any major costs, that's it now.
0:46:41 > 0:46:47We've got a fantastic shop, I think the building is gorgeous, it's in a lovely village.
0:46:47 > 0:46:50It looks beautiful, I'm really pleased with how it all looks.
0:46:50 > 0:46:53Now we've just got to get the customers.
0:46:53 > 0:46:58The £130,000 purchase price and their £20,000 spend
0:46:58 > 0:47:02means they have over £150,000 invested here
0:47:02 > 0:47:06so Danni and Kate really do need customers to flood in.
0:47:06 > 0:47:12But has jumping feet first into a new business venture during a recession been a good step?
0:47:14 > 0:47:17What is most appealing about this property,
0:47:17 > 0:47:20it's extremely small but it's a character property.
0:47:20 > 0:47:24It's in a well sought after village, got good foot-fall past the door
0:47:24 > 0:47:29and you're selling a product which I think will be eminently marketable.
0:47:29 > 0:47:32What they've created here is quite a comfortable, cosy,
0:47:32 > 0:47:34welcoming sort of atmosphere,
0:47:34 > 0:47:40which I think is good. I think they've made the most of the character of the shop
0:47:40 > 0:47:43so from that point of view I think it's successful.
0:47:43 > 0:47:46It's a double-fronted shop with two large windows
0:47:46 > 0:47:50and I'm not convinced that using part of the front of the shop
0:47:50 > 0:47:52for storage space is really the solution.
0:47:52 > 0:47:57I'd normally like to see the storage at the least valuable part of the shop at the back.
0:47:57 > 0:48:00Previously is was open-plan so you had a nice double-fronted shop area.
0:48:00 > 0:48:05Now they've sort of closed off half of it at the front, which is merely a stock room,
0:48:05 > 0:48:08arguably it is sort of less valuable space.
0:48:08 > 0:48:11Though they have no plans to rent it out,
0:48:11 > 0:48:15currently commercial premises are often more valuable as rental vehicles.
0:48:15 > 0:48:19So would that be the case here?
0:48:19 > 0:48:22In terms of a rental per annum, I would expect this shop,
0:48:22 > 0:48:26which is about 550-odd square feet, to rent at about £10,000 per annum.
0:48:26 > 0:48:30In terms of rental valuation, I think we're looking at a maximum of £7,000 per annum.
0:48:30 > 0:48:35Even £10,000 a year would mean a yield of only about 6.5%.
0:48:35 > 0:48:38So it's all about tickover rates.
0:48:38 > 0:48:44With 150,000 invested here, have Danni and Kate added any value to their shop?
0:48:45 > 0:48:50If this was placed back on the market as it stands as a retail unit
0:48:50 > 0:48:53I would expect it to be marketed at around £125,000.
0:48:53 > 0:48:59Nine months ago I put a value in the range of £125,000 to £150,000.
0:48:59 > 0:49:05I'd narrow that now down to 125,000 to a maximum 140,000.
0:49:05 > 0:49:08So, I suppose that's not bad, current climate.
0:49:08 > 0:49:11Well, yes. It hasn't lost as much as it...
0:49:11 > 0:49:16- might have done. - But sad considering all the work and effort we've put in!
0:49:16 > 0:49:19Perhaps that IS a little disappointing
0:49:19 > 0:49:22but there's always one way of cheering yourself up, isn't there?
0:49:22 > 0:49:24# ..I put some new shoes on
0:49:24 > 0:49:27# And suddenly everything is right
0:49:27 > 0:49:31# I said, hey I put some new shoes on
0:49:31 > 0:49:32# And everybody's smiling... #
0:49:32 > 0:49:37Maybe the building itself won't make money but it was always about more than that.
0:49:37 > 0:49:40It's the whole package. It's a creative project,
0:49:40 > 0:49:44it's our partnership, it's, you know, the whole thing.
0:49:44 > 0:49:46# ..I'm wearing my brand new shoes
0:49:46 > 0:49:48# Oh, hey I put some new shoes on... #
0:49:48 > 0:49:50Obviously we need to make money.
0:49:50 > 0:49:55We can't just do it for fun but it's got to be fun as well.
0:49:55 > 0:49:59# ..Hey, I put some new shoes on,
0:49:59 > 0:50:01# And suddenly everything is right
0:50:01 > 0:50:05# I said, hey I put some new shoes on
0:50:05 > 0:50:08# And everybody's smiling, it's so inviting
0:50:08 > 0:50:11# Oh, short on money but long on time
0:50:11 > 0:50:14# Slowly strolling in the sweet sunshine
0:50:14 > 0:50:17# And I'm running late and I don't need an excuse
0:50:17 > 0:50:20# Cos I'm wearing my brand new shoes. #
0:50:25 > 0:50:28In the coastal town of Northam in North Devon
0:50:28 > 0:50:31was this three-bedroom terraced house with sea views.
0:50:31 > 0:50:37Young couple Kaylee and Jay bought it for £79,000 with a little help from Kaylee's parents.
0:50:37 > 0:50:41# ..We are young
0:50:41 > 0:50:45# Heartache to heartache we stand... #
0:50:45 > 0:50:50It's a struggle to get any property for youngsters these days
0:50:50 > 0:50:53and it's the right time,
0:50:53 > 0:50:57the right property, the right place, everything is good about it.
0:50:58 > 0:51:03Hopefully Kaylee's mum was right because these two weren't hanging about.
0:51:04 > 0:51:07So when do you actually move in?
0:51:07 > 0:51:09- This afternoon. Today.- Today?!
0:51:09 > 0:51:11- Yeah, today.- Oh, fantastic.
0:51:11 > 0:51:15- So have you got the bottle of champagne ready?- It's ready.- Yeah.
0:51:15 > 0:51:17No fridge to put it in but it's there!
0:51:17 > 0:51:21Four months later, we're back to see if there's still plenty
0:51:21 > 0:51:25to celebrate or if the new adventure has gone a little flat.
0:51:25 > 0:51:28Well, it's definitely looking promising,
0:51:28 > 0:51:31with a freshly painted exterior.
0:51:34 > 0:51:38The lounge is revamped. Minus the fireplace. Woo-hoo!
0:51:38 > 0:51:42And now there's a completely finished kitchen.
0:51:42 > 0:51:46I think the main challenge is the fact that we haven't done anything before.
0:51:46 > 0:51:51We haven't done any painting, we haven't wallpapered, we haven't tiled, we haven't put up a banister.
0:51:51 > 0:51:55# ..We're absolutely beginners... #
0:51:57 > 0:52:00And so everything was completely new,
0:52:00 > 0:52:03completely different, wasn't it?
0:52:03 > 0:52:05Yeah, but we've learned a lot.
0:52:06 > 0:52:10As properties go this was a great house to learn on
0:52:10 > 0:52:14as some of the rooms were already in pretty good condition when they bought it.
0:52:14 > 0:52:17And they haven't had to do it all on their own.
0:52:18 > 0:52:22In the last week we've had Jay's brother and his girlfriend,
0:52:22 > 0:52:27we've had my mum and dad, my brother, my sister,
0:52:27 > 0:52:30a couple of friends just thrown in,
0:52:30 > 0:52:34and we've all been painting, glossing, carpet-laying.
0:52:34 > 0:52:37Yeah, it's been hard work but it's been fun.
0:52:37 > 0:52:43Although the bedrooms still need a bit of work, they've already made it a home from home.
0:52:43 > 0:52:47But they haven't turned it into a grand mansion with portico quite yet.
0:52:52 > 0:52:57How have Kaylee's parents, Dave and Jackie, found the whole property refurbishment business?
0:52:57 > 0:53:01It's been a great learning experience for everybody all round, I think.
0:53:01 > 0:53:04Kaylee and Jay have really worked hard to get this far.
0:53:04 > 0:53:07I'm really pleased with how it's all turned out.
0:53:07 > 0:53:10Once they finish upstairs, they'll have a lovely home.
0:53:10 > 0:53:13Perhaps not surprisingly
0:53:13 > 0:53:16these two trainee accountants have come in under budget.
0:53:16 > 0:53:20They've spent just £4,000, keeping their costs down
0:53:20 > 0:53:23by making maximum use of what was already here.
0:53:23 > 0:53:25A good example of that is in the kitchen.
0:53:30 > 0:53:35We haven't completely changed the kitchen, still some things the same.
0:53:35 > 0:53:39New tiles, new wallpaper, new cooker, fridge, washing machine.
0:53:39 > 0:53:42We've got a curtain here because we wanted three drawers
0:53:42 > 0:53:48and two units to go up there, but they cost £500 altogether
0:53:48 > 0:53:52which was a bit much, we thought, to pay just for these little bits.
0:53:52 > 0:53:55So we'll cope with a curtain, I think.
0:53:57 > 0:54:01In general they've worked with what was in place before
0:54:01 > 0:54:05but they did make one major change on the stairs.
0:54:07 > 0:54:10Really pleased with the stairs we've done here.
0:54:10 > 0:54:13Knocked the wall down, opened it up a bit,
0:54:13 > 0:54:15put new banisters in.
0:54:15 > 0:54:18Yeah, a bit more work to do!
0:54:18 > 0:54:21Clearly there are some finishing touches to do around the house.
0:54:21 > 0:54:25All that's left to do after that is furnish it.
0:54:26 > 0:54:29'Came with almost nothing.'
0:54:29 > 0:54:33We had the bed and the cupboards upstairs but apart from that,
0:54:33 > 0:54:39parents bought the washing machine, your dad bought the table and chairs,
0:54:39 > 0:54:42Nan and Granddad gave us the sofa from their old house...
0:54:42 > 0:54:45And so we just have bits from everywhere, really.
0:54:45 > 0:54:49I'm sure that like most of us, over time they'll accumulate
0:54:49 > 0:54:51more fixtures and fittings.
0:54:51 > 0:54:54But has the house itself accumulated any money?
0:54:54 > 0:54:57They paid £79,000 and spent £4,000 on it,
0:54:57 > 0:55:01taking them to a total spend of around 83,000.
0:55:01 > 0:55:04What do two local property experts think?
0:55:06 > 0:55:11The property is nicely freshened up and it's a proper home now.
0:55:11 > 0:55:16I think it's been well done, it's tidied up, together,
0:55:16 > 0:55:20and a property that would attract attention in today's market.
0:55:20 > 0:55:26With a little help from their parents Kaylee and Jay have spent just over £83,000 here.
0:55:26 > 0:55:30So has it been a good investment, bearing in mind the current market?
0:55:30 > 0:55:33£90,000 would be the cake and anything above that would be icing.
0:55:33 > 0:55:39It would hover around 90,000 and maybe with an asking price of 89,950.
0:55:39 > 0:55:43That's not a bad potential profit for your first home,
0:55:43 > 0:55:46and all at just 19 years of age. What do they think?
0:55:46 > 0:55:50- Pleased with that? - Definitely.- Yeah.
0:55:50 > 0:55:53I expected less, obviously.
0:55:53 > 0:55:57- It's more than what we paid, so... - Yeah. Yeah, can't go wrong really.
0:55:57 > 0:56:01# ..Cos you're a dream to me, dream to me... #
0:56:01 > 0:56:06I think this has been a dream starter home for Kaylee and Jay.
0:56:06 > 0:56:10It's wonderful, it's wonderful for them to actually have left home
0:56:10 > 0:56:13and have somewhere like this to start in. It's been fabulous.
0:56:18 > 0:56:21I would have loved to have had a start like this.
0:56:21 > 0:56:27To be 19 and have your own house, how magical. How magical.
0:56:31 > 0:56:33Very pleased, yeah.
0:56:33 > 0:56:36- Really pleased with what we've done, aren't we?- Yeah, definitely.
0:56:38 > 0:56:42So they should be because the sum of the parts here
0:56:42 > 0:56:46have added up to give Jay and Kaylee a great first home together.
0:56:53 > 0:56:55So that brings us to the end of the show
0:56:55 > 0:56:58and another set of exciting stories from the auction room.
0:56:58 > 0:57:01So join us next time for more homes under the hammer.
0:57:01 > 0:57:03- We'll see you then.- Goodbye.
0:57:09 > 0:57:12For more information about Homes Under The Hammer,
0:57:12 > 0:57:15including how the programme was made,
0:57:15 > 0:57:18visit the website at bbc.co.uk