0:00:00 > 0:00:05Hello! Now, if you love property like Lucy and I, it's hard to forget about it,
0:00:05 > 0:00:08even in today's current difficult market conditions.
0:00:08 > 0:00:12Absolutely. You may find your dream home on holiday, a country walk,
0:00:12 > 0:00:15or browsing through an estate agent's window.
0:00:15 > 0:00:19One way to get your pulse going is to come along to the auctions!
0:00:44 > 0:00:49When it comes to property, everybody had different requirements.
0:00:49 > 0:00:52You may be buying a new home, or developing to rent out.
0:00:52 > 0:00:55For some, location is the key. For others, character.
0:00:55 > 0:00:59For others, it's about how much money a property can generate.
0:00:59 > 0:01:02So let's see what properties are on today's show.
0:01:03 > 0:01:07In London, there's a flat to take your breath away.
0:01:07 > 0:01:10Plus, of course, you can save on gym fees!
0:01:14 > 0:01:18I give this house in Kent a full inspection and discover...
0:01:18 > 0:01:22The property lacks a few things. But it makes up for it in other ways.
0:01:23 > 0:01:28And in Greater Manchester, it's not just property prices that are collapsing!
0:01:28 > 0:01:30Wow.
0:01:31 > 0:01:33That's not good!
0:01:34 > 0:01:38All these properties have been sold at auction. We'll see who bought them
0:01:38 > 0:01:42and what they paid for them when they went under the hammer.
0:01:45 > 0:01:51I'm in London today, just a short walk from Borough Station on the south side of the Thames.
0:01:51 > 0:01:53If the street signs are anything to go by,
0:01:53 > 0:01:56there might be some money to be made here.
0:02:00 > 0:02:04So the location gives absolutely no cause for complaint.
0:02:04 > 0:02:08The whole area has gone up in leaps and bounds in recent years.
0:02:08 > 0:02:12Unfortunately, the property that's up for auction hasn't!
0:02:12 > 0:02:14It's four floors up
0:02:14 > 0:02:16and no lift!
0:02:16 > 0:02:20Better be worth the £145,000 guide price!
0:02:22 > 0:02:26Perched on the very top, the flat is part of a larger complex.
0:02:26 > 0:02:30Neighbouring properties are in both period and modern styles
0:02:30 > 0:02:33and I'm sure some of those have lifts.
0:02:33 > 0:02:35Oh, well, onwards and upwards!
0:02:35 > 0:02:37PANTING
0:02:37 > 0:02:41Well, like most apartment complexes, you don't own the freehold
0:02:41 > 0:02:44and there's a £250 ground rent.
0:02:44 > 0:02:48Plus £600 for apartment service fees.
0:02:48 > 0:02:50For central London, that's not bad at all.
0:02:50 > 0:02:54Plus, of course, you can save on gym fees!
0:03:02 > 0:03:06Tell you what, you're not gonna be watching my workout video any time soon!
0:03:06 > 0:03:09Seriously, those stairs are a nightmare
0:03:09 > 0:03:13and would rule out a fair number of people from living here.
0:03:13 > 0:03:16If you wanted to rent this out, it's important to consider.
0:03:16 > 0:03:21What have we got? Straight through the front door and you're greeted by the loo!
0:03:21 > 0:03:22Fantastic(!)
0:03:23 > 0:03:28And a fairly dated-looking kitchen. Not a bad size, I guess.
0:03:28 > 0:03:31A very old boiler you'd want to sort out.
0:03:31 > 0:03:35Units obviously need playing around. You'd have to be creative with design
0:03:35 > 0:03:37when it's such a small space.
0:03:37 > 0:03:41But I do like the big window there.
0:03:42 > 0:03:44Not exactly a huge amount of space.
0:03:44 > 0:03:49This is your main room. This is your living room/bedroom.
0:03:49 > 0:03:51Couple of things I'd do straight away.
0:03:51 > 0:03:54Strip the floorboards back. That would lift it in here.
0:03:54 > 0:03:58Though you've got fair sized windows so it doesn't feel dark and dingy.
0:03:58 > 0:04:03A couple of nice features. Open fire and choose your furniture well.
0:04:03 > 0:04:06Maybe a pull-down bed. It would seem like a good space.
0:04:06 > 0:04:09I'm not sure you could change the internal layout of this place much.
0:04:09 > 0:04:12It may be worthy of some consideration.
0:04:12 > 0:04:14But one thing I would do is sort out this window.
0:04:14 > 0:04:18Maybe it's just me cos I get vertigo, but this is very low
0:04:18 > 0:04:23so I think that's a potential safety risk for children when this is open in the summer.
0:04:25 > 0:04:31And there's another area which is not particularly child-friendly, but a great bonus.
0:04:36 > 0:04:40Wouldn't this make a perfect city crash-pad?
0:04:40 > 0:04:43In France they'd call it a "pied-a-terre", or "foot on the ground"
0:04:43 > 0:04:47which, given that we're four storeys up is probably not that accurate!
0:04:47 > 0:04:50But with views like this, who cares?
0:04:53 > 0:04:58This roof space is actually a communal area for the entire block.
0:04:58 > 0:05:03But whereas others have to climb to it, the owner of this just strolls out the back door!
0:05:03 > 0:05:05- #- Let me tell you now
0:05:05 > 0:05:08- #- When I come home feeling tired and blue
0:05:08 > 0:05:14- #- I go up where the air is fresh and sweet- #
0:05:14 > 0:05:16Well, I may feel on top of the world,
0:05:16 > 0:05:19but does this flat have potential uplift
0:05:19 > 0:05:22or is its head too much in the clouds?
0:05:22 > 0:05:25What does a local estate agent think?
0:05:25 > 0:05:31I think certainly there's potential to create a one-bedroom flat
0:05:31 > 0:05:34from the existing studio design
0:05:34 > 0:05:38by making the kitchen area here, which is a reasonable size,
0:05:38 > 0:05:39into a bedroom.
0:05:39 > 0:05:46And then putting a really small basic kitchen into the main living area.
0:05:46 > 0:05:50That all seems possible, but it's a bit more hassle and cost.
0:05:50 > 0:05:52So, would it be worth it?
0:05:52 > 0:05:53What kind of rent could you get?
0:05:55 > 0:05:59As a studio flat, 800, 850 a month.
0:05:59 > 0:06:03But as a one-bedroom, potentially 1,100 to 1,200 a month.
0:06:03 > 0:06:08So the estate agent thinks changing this from a studio flat into a one-bed flat
0:06:08 > 0:06:11could increase its value by 40,000
0:06:11 > 0:06:14and potentially the flat could resell for close to 200,000.
0:06:14 > 0:06:17It goes to show that size isn't everything.
0:06:21 > 0:06:23It's small and it needs a bit of work,
0:06:23 > 0:06:25but what sets this particular property apart
0:06:25 > 0:06:29is its location and this wonderful terrace.
0:06:29 > 0:06:31The views, great.
0:06:31 > 0:06:36Well worth the £145,000 guide price. Let's see who went for it at auction.
0:06:39 > 0:06:43Lot 76. Marshalsea Road, London SE1.
0:06:44 > 0:06:46100? 100 I've got.
0:06:46 > 0:06:48Anybody else? At £100,000.
0:06:49 > 0:06:52100 and how much? 105? Thank you. 105.
0:06:52 > 0:06:54110.
0:06:54 > 0:06:55115.
0:06:55 > 0:06:59116? Give you a bit of a hand.
0:06:59 > 0:07:01116. 117.
0:07:01 > 0:07:03118.
0:07:04 > 0:07:06119. 120.
0:07:06 > 0:07:08121.
0:07:08 > 0:07:10122.
0:07:10 > 0:07:12- 123.- 123.
0:07:12 > 0:07:14124.
0:07:14 > 0:07:16125?
0:07:16 > 0:07:18126? Lose it for 1,000?
0:07:18 > 0:07:21One more? 125 is with you.
0:07:21 > 0:07:24It's against you and against you. It's with you at £125,000.
0:07:24 > 0:07:27125 for the first,
0:07:27 > 0:07:29125 for the second,
0:07:29 > 0:07:32125 for the third and final time.
0:07:32 > 0:07:33All done?
0:07:33 > 0:07:35Sold. 125. Well bought.
0:07:37 > 0:07:42So, for £125,000, £20,000 under the guide price,
0:07:42 > 0:07:44the new owner is Ray.
0:07:44 > 0:07:48He took a deep breath and climbed those stairs to meet me in the flat.
0:07:50 > 0:07:55- Ray, very good to meet you.- Martin, hello.- Congratulations.- Thank you.
0:07:55 > 0:07:57Why did you want to buy this little place?
0:07:57 > 0:08:00It's a bit small and compact.
0:08:00 > 0:08:04I thought it was something I could achieve to turn around, modernise.
0:08:04 > 0:08:08- For what reason?- I wanted a little pied-a-terre in town.
0:08:08 > 0:08:12- This fits the bill nicely. - Somewhere you're gonna use yourself?
0:08:12 > 0:08:15- Yes, but I'll also probably let it out as well.- Right.
0:08:15 > 0:08:19- Where do you live now?- In Edinburgh. - Edinburgh?- Yes.- OK.
0:08:19 > 0:08:21It's a bit of a commute!
0:08:21 > 0:08:28This flat is hardly on his doorstep, but Ray has bought property in London before.
0:08:28 > 0:08:31But when he did that, he was living in the south of England.
0:08:31 > 0:08:33What's brought him back to London?
0:08:34 > 0:08:38About 18 months ago, I bought a little property in Croydon
0:08:38 > 0:08:44and it was really to be closer to my mother, who was at the end of her life.
0:08:44 > 0:08:46I lived in the house for a month, then she died,
0:08:46 > 0:08:51but I carried on renovating the property, managed to turn it around,
0:08:51 > 0:08:54sold it and bought this shortly afterwards.
0:08:54 > 0:08:57- Is it your job, being a property developer?- Not really.
0:08:57 > 0:09:01No, it's a sort of retirement type of thing.
0:09:01 > 0:09:05I have been a photographer and I've been in cinema more recently.
0:09:05 > 0:09:10- Tell me more.- I was working on a DIY publication as a photographer.
0:09:10 > 0:09:15- OK.- That got me interested in the property renovation aspect some years ago.
0:09:15 > 0:09:20Having snapped this flat up for 125 grand,
0:09:20 > 0:09:22how does he picture it looking?
0:09:24 > 0:09:28It makes sense, I think, to make it into a one-bedroomed flat.
0:09:28 > 0:09:34It is gonna be a small bedroom. We're in the kitchen now, which I think is unnecessarily large.
0:09:34 > 0:09:37So I feel the kitchen can move into the living space.
0:09:37 > 0:09:40A small, compact kitchen, but it should work.
0:09:40 > 0:09:44The washing facilities will be in the bathroom
0:09:44 > 0:09:47and this will become a small double bedroom.
0:09:47 > 0:09:49Who's gonna do the work?
0:09:49 > 0:09:51- Builders.- Get people in.
0:09:51 > 0:09:56I'm afraid so. Unlike Croydon, I won't have enough room to live in it while I'm doing it
0:09:56 > 0:10:00and it's going to be very much stripped out.
0:10:00 > 0:10:02How much will it cost to do the work?
0:10:02 > 0:10:07I've had two quotes so far. The first one I had was for about 14,000,
0:10:07 > 0:10:10which I thought was maybe a bit cheap.
0:10:10 > 0:10:12- Cheap?!- Yes.
0:10:12 > 0:10:15A studio flat? What are they gonna do for 14 grand?
0:10:15 > 0:10:17The second quote was for 40.
0:10:17 > 0:10:1840?!!
0:10:18 > 0:10:22I'm afraid so. I'm going to do it high end, but not that high end!
0:10:22 > 0:10:29- What kind of specification did you put in to get a quote for £40,000? - It's high. It's a lot of money.
0:10:29 > 0:10:31- I'm hoping...- How? How? How? How?
0:10:31 > 0:10:33- You mean a bespoke kitchen...- Yes.
0:10:33 > 0:10:36With, um, yes...
0:10:36 > 0:10:40- A waterslide out the window down to the car park!- I could do with that!
0:10:40 > 0:10:41Right!
0:10:41 > 0:10:45No, it's just a very high end renovation.
0:10:45 > 0:10:49So, Ray may have a flat on the top floor,
0:10:49 > 0:10:51but I hope his budget doesn't go through the roof!
0:10:55 > 0:10:58So, Ray moving the kitchen into here,
0:10:58 > 0:11:01obviously the right thing to do.
0:11:01 > 0:11:05It increases the rental potential and also the value of the property.
0:11:05 > 0:11:09I'm a bit worried though about how vague he is regarding his budget
0:11:09 > 0:11:12and how much he's gonna pay his builders.
0:11:12 > 0:11:15Find out how he gets on, later in the show.
0:11:19 > 0:11:22Today, I'm going to Rainham in north Kent.
0:11:22 > 0:11:24It's one of the Medway towns
0:11:24 > 0:11:27which include Gillingham, Chatham and Rochester.
0:11:27 > 0:11:32It has a bustling town centre surrounded by picturesque lush countryside.
0:11:36 > 0:11:39This is South Bush Lane.
0:11:39 > 0:11:43The properties here were built around the 1920s after the First World War
0:11:43 > 0:11:47specifically for servicemen returning from the front line.
0:11:47 > 0:11:49These were meant to be homes for the heroes
0:11:49 > 0:11:52putting them into houses that were fully sustainable.
0:11:52 > 0:11:55Over the years, farming on the land has died out,
0:11:55 > 0:11:58leaving the properties with sizeable gardens.
0:11:58 > 0:12:02And from the looks of things, this is a pretty decent house, too.
0:12:03 > 0:12:06Here it is. I'm quite excited about this one.
0:12:06 > 0:12:11It's a two-bedroomed house with a guide price of 300 to 320,000.
0:12:11 > 0:12:15It's not the biggest house in the world and two bedrooms limits its market.
0:12:15 > 0:12:18But it also comes with a rather ramshackle barn
0:12:18 > 0:12:21which may have development potential.
0:12:21 > 0:12:25I could tell from the pebbledash exterior that it was gonna be dated.
0:12:25 > 0:12:27But it really, really is.
0:12:27 > 0:12:30But it has a lovely open feeling as you walk in.
0:12:30 > 0:12:35The kitchen is here, with an old oil-burning stove in the corner.
0:12:35 > 0:12:37But it's a fairly big space.
0:12:37 > 0:12:42There's two downstairs reception rooms, a pantry area through there,
0:12:42 > 0:12:45and as you can see, these old beams that date back to the '20s.
0:12:45 > 0:12:50They're not beautiful, so I might be inclined to get rid of those.
0:12:50 > 0:12:51A gas fire over here.
0:12:51 > 0:12:54There's no central heating in this place at all.
0:12:54 > 0:12:57It's good, though, because I can't smell any damp.
0:12:57 > 0:13:01But overall, a lot of money will need to be spent down here.
0:13:02 > 0:13:04Yes, quite a "to do" list.
0:13:04 > 0:13:07First central heating, then all the walls need re-plastering,
0:13:07 > 0:13:10along with a complete overhaul throughout.
0:13:10 > 0:13:15That would include new ceilings, a kitchen and probably updated plumbing and electrics.
0:13:15 > 0:13:18The only possible bonus is there is double glazing.
0:13:18 > 0:13:21Upstairs there are three rooms.
0:13:21 > 0:13:26Two really good sized double bedrooms and a massive bathroom.
0:13:26 > 0:13:29But with the smallest bath I think I've ever seen!
0:13:31 > 0:13:35It really is tiny. I think this bathroom could do with some remodelling.
0:13:35 > 0:13:38Once you've done that, it will be a great space up here.
0:13:40 > 0:13:43Although there are only two bedrooms, they're both a good size.
0:13:43 > 0:13:47They're quirky in shape, not the standard box you often get these days.
0:13:47 > 0:13:51But I want to see if there's any way of getting more rooms in here
0:13:51 > 0:13:53to make this place just bigger.
0:13:56 > 0:14:00OK, adequate, but fairly uninspiring.
0:14:00 > 0:14:06So this is where I consult my auction catalogue in the hope it tells me something exciting!
0:14:06 > 0:14:08Let's have a look.
0:14:08 > 0:14:13It doesn't let me down. It says "the property offers potential for extension", which it does.
0:14:13 > 0:14:19"..to provide a much larger residential property subject to the necessary consents."
0:14:19 > 0:14:21That is the sort of news I wanted to hear.
0:14:21 > 0:14:26Looking around the house today, I think it would really benefit from extra space.
0:14:26 > 0:14:29Because you've certainly got a lot of it out here!
0:14:33 > 0:14:36This plot size adds a whole new dimension.
0:14:36 > 0:14:39There's scope here for extending the existing house
0:14:39 > 0:14:41or perhaps even knocking it down.
0:14:41 > 0:14:45You could put something more substantial there to complement the setting.
0:14:48 > 0:14:51I think you'll agree the property lacks a few things.
0:14:51 > 0:14:55But it certainly makes up for it in other ways. Look at that view!
0:14:59 > 0:15:03If you want o get away from the urban sprawl and retreat to the country,
0:15:03 > 0:15:05this might do the trick.
0:15:05 > 0:15:08Is it worth the effort required to bring it up to date?
0:15:08 > 0:15:10What does a local estate agent think?
0:15:11 > 0:15:14Subject to planning consents and everything else,
0:15:14 > 0:15:17I think the property lends itself to be extended.
0:15:17 > 0:15:20I would imagine by that a three- or four-bedroomed prop
0:15:20 > 0:15:24is the likely outcome with three receptions downstairs.
0:15:24 > 0:15:26The property has lots of potential.
0:15:27 > 0:15:30The land around does offer scope for development,
0:15:30 > 0:15:32but extensions cost money.
0:15:32 > 0:15:35Would they really increase its value by much?
0:15:37 > 0:15:40The property, once it's been modernised,
0:15:40 > 0:15:44I would expect to achieve between 350,000 to 400,000.
0:15:44 > 0:15:48If you were to get planning permission and extend to a four bedroom,
0:15:48 > 0:15:51ideally with another reception room downstairs,
0:15:51 > 0:15:55I can see the property achieving anywhere round the 500,000 mark.
0:15:55 > 0:15:58That's a significant mark-up.
0:15:58 > 0:16:01With a guide price of 300 to 320,000,
0:16:01 > 0:16:06extending the property is the only viable way of making it a sound investment.
0:16:07 > 0:16:11This house was built for a soldier coming back from the First World War.
0:16:11 > 0:16:15A house and land to help him re-engage with everyday life.
0:16:15 > 0:16:17With that kind of history attached,
0:16:17 > 0:16:20one hopes it went to a deserving bidder.
0:16:20 > 0:16:23Someone who's ready to really love this place.
0:16:23 > 0:16:26Let's see who went for it in the auction room.
0:16:28 > 0:16:31We move to Lot 174.
0:16:31 > 0:16:34It's guided at 300 to 320.
0:16:34 > 0:16:36£300,000 anywhere?
0:16:36 > 0:16:38£300,000. Thank you, sir.
0:16:38 > 0:16:42£300,000 is bid. 305, do I see?
0:16:42 > 0:16:44305 in a fresh place. 310, sir?
0:16:44 > 0:16:48310 I have. At 315?
0:16:48 > 0:16:50315 is bid.
0:16:50 > 0:16:52320. 325?
0:16:53 > 0:16:55322, if it helps.
0:16:55 > 0:16:57322.
0:16:57 > 0:16:59And 325? 325 is bid.
0:16:59 > 0:17:01326.
0:17:01 > 0:17:04That shows how tight they're working to.
0:17:04 > 0:17:06327 is bid. 328.
0:17:06 > 0:17:08And 329.
0:17:08 > 0:17:10And 330. 330 is bid.
0:17:10 > 0:17:11332.
0:17:11 > 0:17:13334?
0:17:13 > 0:17:14No? Are you sure?
0:17:14 > 0:17:16At 332, then,
0:17:16 > 0:17:19for the first time it's being sold at 332,000.
0:17:19 > 0:17:25Being sold for the second time at 332. Your last opportunity.
0:17:25 > 0:17:29Bid is here at 332. Third and final time. Are you all done?
0:17:29 > 0:17:32Sold at 332,000.
0:17:33 > 0:17:39The buyer clearly delighted with his £332,000 purchase was Andrew.
0:17:39 > 0:17:43He bought it as his new home and joined me there to tell me more.
0:17:45 > 0:17:50Andrew, I love going to auctions when the person that wins the property is so excited.
0:17:50 > 0:17:53You just went, "Yes!"
0:17:53 > 0:17:57That was probably because this was the first time I'd bought a property at auction.
0:17:57 > 0:18:00I'd done lots of homework beforehand.
0:18:00 > 0:18:04I had all of the deposit sorted out, the survey had already been done,
0:18:04 > 0:18:06the mortgage was in place.
0:18:06 > 0:18:10I'd looked at the property so I knew exactly what I was buying.
0:18:10 > 0:18:14By that stage, I'd probably invested nearly £1,000 before I'd got to auction.
0:18:14 > 0:18:18Andrew is clearly extremely organised and meticulous.
0:18:18 > 0:18:22Unlike so many other auction buyers, he was leaving nothing to chance.
0:18:25 > 0:18:27What do you actually do as a job?
0:18:27 > 0:18:29I work for the Ministry of Defence.
0:18:29 > 0:18:31I get involved with bits and pieces.
0:18:31 > 0:18:36I've experience of project management in various countries doing some difficult things.
0:18:36 > 0:18:38So you're very thorough in your work.
0:18:38 > 0:18:42Definitely. I think planning is absolutely everything. It's crucial.
0:18:42 > 0:18:47You've got to do the background homework and put everything in place. It takes time,
0:18:47 > 0:18:51but at the end of the day, we have a saying in the military,
0:18:51 > 0:18:54it's preparation which is absolutely essential.
0:18:54 > 0:18:56If you go in there well prepared,
0:18:56 > 0:19:00there's a good chance you'll come out the other end with what you want.
0:19:01 > 0:19:06Andrew was also attracted by the military history associated with these houses.
0:19:06 > 0:19:09So what strategy does he want to put into action here?
0:19:12 > 0:19:15I'd like to be able to keep the property as it is.
0:19:15 > 0:19:21I don't intend to knock it down. What I need to do is take it up to current thinking
0:19:21 > 0:19:23as far as making it a really good family home.
0:19:23 > 0:19:28But I need to do a lot of work to make sure that the insulation materials,
0:19:28 > 0:19:33all of the technologies that are available today are used
0:19:33 > 0:19:37to the best possible use of the property.
0:19:37 > 0:19:40Are you thinking of a real eco-friendly house, solar panels?
0:19:40 > 0:19:46Definitely. I want to go one step beyond just putting energy-saving light bulbs in.
0:19:46 > 0:19:51At the end of the day, this property would benefit from sustainable energy resources.
0:19:51 > 0:19:54It would benefit from a sewage treatment plant.
0:19:54 > 0:19:58It has no heating, so you need to look at the whole eco package.
0:19:58 > 0:20:00I'm working on the premise
0:20:00 > 0:20:04that what you really need to do with a property like this is start from
0:20:04 > 0:20:07first foundations.
0:20:07 > 0:20:11So though I'm not knocking down the property, I have to insulate it
0:20:11 > 0:20:13and that's going to be complicated.
0:20:13 > 0:20:16To get a better idea of what it's going to look like,
0:20:16 > 0:20:20we took a march into the garden to inspect his architect's plans.
0:20:23 > 0:20:29Let's talk about the property. You can add on from 25% square footage of the property.
0:20:29 > 0:20:32- Yes.- How much are you actually going for?
0:20:32 > 0:20:35That's a guideline. 25% is a guideline.
0:20:35 > 0:20:40As far as the planning department are concerned, they're looking for a modest extension.
0:20:40 > 0:20:44I'm looking for something which gives a footprint of an additional 65%.
0:20:44 > 0:20:49- OK.- But the trade-off is this property will fit
0:20:49 > 0:20:52absolutely superbly into a rural location.
0:20:52 > 0:20:58I love the way it's designed from the outside with these wonderful doors coming out.
0:20:58 > 0:21:04- That will take in this amazing view. - Absolutely. With a view like that, it's important to maximise it.
0:21:04 > 0:21:06You've got contemporary fittings.
0:21:06 > 0:21:11- A galvanised steel balcony with the timber together. - Yes.- Working in harmony.
0:21:11 > 0:21:16- That will look fantastic.- The design we're looking for is modern, but in keeping.
0:21:16 > 0:21:19We didn't want anything which was too twee.
0:21:19 > 0:21:24How much is all this going to cost? What budget have you got to spend on the work here?
0:21:24 > 0:21:28I'm working on a budget at the moment of somewhere between 100 and £120,000.
0:21:28 > 0:21:31I'm under no illusion that a lot of the money
0:21:31 > 0:21:35will have to be spent on the sustainable energy,
0:21:35 > 0:21:39the new energy resources, sewage treatment, rainwater harvesting.
0:21:39 > 0:21:44- It's very expensive to put in. - If you chose not to go along this route, it would be cheaper.
0:21:44 > 0:21:49It would, but I think if you live in this sort of environment,
0:21:49 > 0:21:52because we're looking towards the future
0:21:52 > 0:21:57and sustainability, it is very important that you plan to the future.
0:21:57 > 0:22:01This isn't a design for today, it's a design for 20 years hence.
0:22:01 > 0:22:05The first battle ahead will be to get the plans passed.
0:22:05 > 0:22:07Then the tricky part of the mission will begin,
0:22:07 > 0:22:13trying to build and project manage this house while also holding down a full-time job.
0:22:13 > 0:22:17How fitting that this house was bought by Andrew.
0:22:17 > 0:22:21To pass back into the hands of someone in the military has a real resonance.
0:22:21 > 0:22:24As you can see, he's really fallen for the place.
0:22:24 > 0:22:27I wish him the best of luck in his plans for extension.
0:22:27 > 0:22:30If he is fortunate enough to get it,
0:22:30 > 0:22:32he will really do this house justice.
0:22:32 > 0:22:35Join me later in the show to see just how he gets on.
0:22:37 > 0:22:40Coming up: In Greater Manchester,
0:22:40 > 0:22:44there's a house where history seems to be repeating itself.
0:22:44 > 0:22:47Love the wallpaper! Apparently, it's back in fashion!
0:22:48 > 0:22:52Back in Kent, we discover whether Andrew enjoyed the challenge
0:22:52 > 0:22:54of updating his 1920s house.
0:22:55 > 0:22:58This has been an absolute labour of love for me.
0:22:59 > 0:23:04But first, did Ray's budget go sky-high?
0:23:04 > 0:23:07- The second quote was for 40.- 40?!
0:23:11 > 0:23:15Not far from the City area of London is Borough.
0:23:15 > 0:23:19Here in the shadow of some of London's landmark buildings
0:23:19 > 0:23:23a flat with a lofty position was sold for £125,000.
0:23:24 > 0:23:28It went to former photographer Ray who pictured this studio flat
0:23:28 > 0:23:31with a slightly different layout.
0:23:33 > 0:23:38It makes sense, I think, to make it into a one-bedroomed flat.
0:23:38 > 0:23:43The kitchen can move into the living space. A small, compact kitchen, but it should work.
0:23:44 > 0:23:46So, wind on seven months
0:23:46 > 0:23:49and the new-look flat is ready for exposure.
0:23:52 > 0:23:55There's a fabulous new bathroom.
0:24:03 > 0:24:07The kitchen's now gone and been turned into a bedroom.
0:24:07 > 0:24:11So far, this photographer's flat is looking very positive!
0:24:11 > 0:24:13It was completely back to shell.
0:24:13 > 0:24:16The walls were completely stripped out.
0:24:16 > 0:24:20It was dry-lined before. All that was removed, the battening was removed,
0:24:20 > 0:24:24the ceiling was down. So it's all been insulated now.
0:24:24 > 0:24:26It'll be a nice little thermal box.
0:24:30 > 0:24:34The floor is about the only original thing that's left.
0:24:34 > 0:24:35The boards were sanded.
0:24:38 > 0:24:45The windows have been replaced - the two metal windows have been replaced with double-glazed units
0:24:45 > 0:24:46with security glass.
0:24:51 > 0:24:53It's virtually a new-build.
0:24:57 > 0:25:01And best of all, there's a sleek, modern kitchen diner.
0:25:07 > 0:25:11The kitchen is in what was the studio room.
0:25:11 > 0:25:13I managed to fit everything in.
0:25:13 > 0:25:17No need for a washing machine in here. It's in the bathroom.
0:25:17 > 0:25:20It's a small kitchen but it all fits nicely.
0:25:20 > 0:25:22The sliding door goes behind the wall.
0:25:22 > 0:25:27It has to be a fire door. To shut it, it's just touch and go!
0:25:29 > 0:25:34Ray has continued with the high specification by fitting an air conditioning unit.
0:25:34 > 0:25:40Though personally, I think the best air conditioning isn't inside the flat.
0:25:45 > 0:25:49Here we have the roof area, which I wouldn't say is mine.
0:25:49 > 0:25:51But it's a nice communal area.
0:25:51 > 0:25:54I'm able to sit out here if I wish.
0:25:54 > 0:25:59A few plants around. Got the air conditioning unit here.
0:25:59 > 0:26:02There's running water, power, light.
0:26:02 > 0:26:04I'm going to put the security cameras in.
0:26:04 > 0:26:08The main thing is it's a fantastic place to be!
0:26:13 > 0:26:19Ray's a photographer by trade and never intended to do the majority of the work himself.
0:26:19 > 0:26:21He employed builders to do most of it.
0:26:21 > 0:26:23But as he was based in Edinburgh,
0:26:23 > 0:26:25how did he co-ordinate it all?
0:26:26 > 0:26:29When Alvin and his builders were here,
0:26:29 > 0:26:34I was very fortunate in that I was able to rent a flat in the same block.
0:26:34 > 0:26:39I could an eye on the thing and project manage from fairly close by.
0:26:39 > 0:26:43I did do a fair amount of work myself after the builders had finished.
0:26:43 > 0:26:45It's been a bit of a struggle
0:26:45 > 0:26:49because things were quite heavy, like the radiators and stuff.
0:26:49 > 0:26:52But I've got on with a lot of things on my own.
0:26:52 > 0:26:55I did have to get help putting the fridge up here!
0:26:56 > 0:27:01Those four flights of stairs were always going to make the job more complicated.
0:27:01 > 0:27:04Ray reckons they filled three skiploads of rubbish.
0:27:04 > 0:27:09There were a lot of materials that had to go down and out as well as up and in.
0:27:09 > 0:27:13So there may have been no lifts, but did Ray's costs escalate?
0:27:15 > 0:27:19The cost, I thought it would be round about the 40 mark.
0:27:19 > 0:27:22But I hoped to keep it below that.
0:27:22 > 0:27:24But that 40,000 includes everything.
0:27:24 > 0:27:27The appliances, fitting the kitchen professionally,
0:27:27 > 0:27:31albeit it took a bit longer than it should have done.
0:27:31 > 0:27:36I think I've got a reasonably good job done.
0:27:36 > 0:27:40Let's hope so, because with a £40,000 spend,
0:27:40 > 0:27:43plus the £125,000 purchase price,
0:27:43 > 0:27:47Ray has over £165,000 invested here.
0:27:47 > 0:27:52Do two local estate agents think a high specification for this high-rise flat
0:27:52 > 0:27:54would get top price?
0:27:56 > 0:27:59Yes, I think it's a very nice job.
0:27:59 > 0:28:02It's very good quality. Good quality units.
0:28:02 > 0:28:04Finished, it will be a really nice flat.
0:28:04 > 0:28:06Very nice. Very bright and airy.
0:28:06 > 0:28:10The view out of this window and at the top of the staircase is incredible.
0:28:10 > 0:28:12The real selling point
0:28:12 > 0:28:17is the way he's changed over the kitchen area into a bedroom.
0:28:17 > 0:28:21It's made it into a one-bedroom flat which is absolutely crucial
0:28:21 > 0:28:23on a space like this.
0:28:23 > 0:28:26It was a very good idea to move the kitchen out of this room
0:28:26 > 0:28:28to make a completely separate bedroom.
0:28:28 > 0:28:30The kitchen is nicely done.
0:28:30 > 0:28:35I would personally have put a fitted fridge freezer into the design.
0:28:35 > 0:28:39It's quite imposing. But that could be changed at a later stage.
0:28:39 > 0:28:42Generally, they're pretty positive.
0:28:42 > 0:28:47Ray has spent over £165,000 in total to ring the changes here.
0:28:47 > 0:28:50Will that be reflected in the flat's current value?
0:28:50 > 0:28:54I'd put it on the market today at around 215,000.
0:28:54 > 0:28:58We could get as much as 200,000 to £210,000 on the open market.
0:28:58 > 0:29:00Wow! That's all right, then!
0:29:00 > 0:29:02After the usual taxes and expenses,
0:29:02 > 0:29:06Ray could see a £50,000 profit.
0:29:06 > 0:29:07How does he feel about that?
0:29:07 > 0:29:11Actually, that's more than I thought. I haven't made a loss!
0:29:11 > 0:29:13But I think the rental route is the way to go.
0:29:13 > 0:29:16I'd like to hang on to it. It's a special flat.
0:29:16 > 0:29:18I'd like to keep it for a few years.
0:29:18 > 0:29:22Will the rental returns be good enough to justify that decision?
0:29:24 > 0:29:29I'd say you'd be looking at £850 per calendar month for rental value.
0:29:29 > 0:29:34A rental per calendar month, we'd look to achieve between £800 and £820 per calendar month.
0:29:34 > 0:29:36Right! OK!
0:29:36 > 0:29:38That's not bad! Not bad!
0:29:38 > 0:29:41I think it's going to be a goer.
0:29:41 > 0:29:45That could bring in £10,000 a year
0:29:45 > 0:29:48and should mean the flat will look after itself financially.
0:29:48 > 0:29:52So, maybe he should snap up another soon.
0:29:52 > 0:29:56Yes. I'm hoping to go back to an auction with Alvin the builder.
0:29:56 > 0:30:00There's a good chance that we might actually do something together.
0:30:00 > 0:30:01But not so many stairs!
0:30:07 > 0:30:11Ray and his builder really seem to have clicked.
0:30:11 > 0:30:13So I picture a few more properties together.
0:30:20 > 0:30:25Today, I'm searching for a property in Whitefield, Greater Manchester.
0:30:25 > 0:30:28It's an area well served by the M60 motorway,
0:30:28 > 0:30:32giving easy access to the surrounding towns and cities.
0:30:32 > 0:30:34OK, trivia lovers,
0:30:34 > 0:30:39what is the connection between Whitefield, Manchester, where I am today,
0:30:39 > 0:30:42and a famous children's book and cartoon?
0:30:42 > 0:30:44Any ideas?
0:30:44 > 0:30:49The answer is that Dodie Smith, author of 101 Dalmatians,
0:30:49 > 0:30:50actually lived here.
0:30:50 > 0:30:54Question is, will the property I'm here to see be dog tired
0:30:54 > 0:30:57or will it have the "chihua-wow" factor?
0:30:57 > 0:31:01I spotted a mix of old houses and new builds
0:31:01 > 0:31:04in an area surrounded by amenities and playgrounds.
0:31:04 > 0:31:07It looks like somewhere geared up not just for dogs
0:31:07 > 0:31:09but also for families.
0:31:10 > 0:31:12So, what was on offer?
0:31:12 > 0:31:17Well, two bedrooms, end terrace, at a guide price of 45,000 quid.
0:31:17 > 0:31:19Seems cheap, doesn't it?
0:31:19 > 0:31:23So, would you be barking mad to consider it? From the outside,
0:31:23 > 0:31:25the windows might need replacing
0:31:25 > 0:31:29and there's a worrying crack that will need to be checked out.
0:31:29 > 0:31:32But if you're a tramspotter, this could well be for you!
0:31:32 > 0:31:35That's a nice feature. A porch there.
0:31:35 > 0:31:40I love that. It means all the noise and the cold doesn't come straight into the lounge.
0:31:40 > 0:31:44This is the lounge. Actually, quite a good-sized space.
0:31:44 > 0:31:48Nice high ceilings. Obviously very tired and dated.
0:31:48 > 0:31:54And some indication of damp there and over in that wall.
0:31:54 > 0:31:57Apart from that, it is a good-sized room.
0:31:57 > 0:32:00Then through into the kitchen. Whoa!
0:32:00 > 0:32:02That's pretty nice.
0:32:02 > 0:32:05Obviously, you'd need to replace the front of these units,
0:32:05 > 0:32:07but if you were renting this place out,
0:32:07 > 0:32:12this could almost be serviceable, but the boiler needs sorting.
0:32:12 > 0:32:15Again, it's a good-sized space, but... Oh, dear! What's that?
0:32:17 > 0:32:20That's not good. Not good at all.
0:32:20 > 0:32:23Let's hope it's nothing more than a leaky pipe.
0:32:25 > 0:32:30My guess is it's coming from the bathroom, there. We'll investigate that in a minute.
0:32:30 > 0:32:35Upstairs just two bedrooms. But I feel the house could have more.
0:32:35 > 0:32:38This very large landing is wasting space.
0:32:38 > 0:32:40Maybe we could play around with the layout.
0:32:40 > 0:32:44Back bedroom there. Front bedroom here. Love the wallpaper!
0:32:44 > 0:32:49Apparently it's back in fashion, though I think that was put on the last time it was in fashion!
0:32:49 > 0:32:53All in all, a good-sized space. A decent-sized double bedroom.
0:32:53 > 0:32:58Nice views out onto the park there. All pretty good, really.
0:32:58 > 0:33:01Putting aside those rose-tinted glasses,
0:33:01 > 0:33:04there are undoubtedly a few issues here.
0:33:04 > 0:33:08Having only two bedrooms makes it quite small and limits its appeal.
0:33:08 > 0:33:11There are also signs of damp throughout
0:33:11 > 0:33:14and that patch on the kitchen ceiling.
0:33:14 > 0:33:19So, Inspector Roberts investigating the potential water leak.
0:33:19 > 0:33:22I reckon the thing downstairs is coming from the bath here.
0:33:22 > 0:33:26I bet if I... There we go.
0:33:26 > 0:33:28Eugh! Yeah, that is damp.
0:33:28 > 0:33:31What's happened, it's basic stuff.
0:33:31 > 0:33:36It'll be this seal here around this silly little shower scenario.
0:33:36 > 0:33:40A dribble of water going through there, it's gone into the floorboards
0:33:40 > 0:33:42and ruined that ceiling.
0:33:42 > 0:33:47In an ideal world, get rid of this silly shower curtain and put up a proper shower screen.
0:33:47 > 0:33:53Hopefully, that's reasonably straightforward and shouldn't break the bank to put right.
0:33:53 > 0:33:57But unfortunately, this isn't the only damp we're dealing with here.
0:33:57 > 0:34:01Not only have you got issues with the fact you're beside a tramline.
0:34:01 > 0:34:04The bank here is causing real problems for the house.
0:34:04 > 0:34:09You're gonna have to clear away a channel, get rid of that,
0:34:09 > 0:34:12then you'll start to sort out the problems inside.
0:34:13 > 0:34:19So this house has problems. Damp, cracks and the need for a lot of updating.
0:34:19 > 0:34:22But remember, the guide price was £45,000
0:34:22 > 0:34:24so perhaps I'm expecting too much.
0:34:24 > 0:34:28What does a local estate agent think?
0:34:31 > 0:34:33Location-wise, it's not too desirable
0:34:33 > 0:34:37but it's a terraced property. They're sought after
0:34:37 > 0:34:40and it would be a good buy-to-let.
0:34:42 > 0:34:46The tram stop for around here is literally five minutes walk again.
0:34:46 > 0:34:50It does pass the property. It's something you get used to.
0:34:50 > 0:34:53You will not notice that kind of noise after a week or so.
0:34:53 > 0:34:57Hopefully, the nearby trams won't derail the value of this house
0:34:57 > 0:35:00if it was put back on track in good condition.
0:35:02 > 0:35:04Once the property's renovated,
0:35:04 > 0:35:09it will probably achieve between 80, 85,000.
0:35:09 > 0:35:11Rental on a property like this
0:35:11 > 0:35:15would be 425, 450, dependent on the standard and if that includes white goods.
0:35:25 > 0:35:30So, a decent enough little property. The big issue is the damp.
0:35:30 > 0:35:34It's coming down from the bathroom and in from the big wall there.
0:35:34 > 0:35:40Some earth moving required to sort that out and some filler to sort out the bathroom.
0:35:40 > 0:35:43Who fancied buying this when it went to the auction?
0:35:47 > 0:35:5026, Victoria Lane in Whitefield, Manchester.
0:35:50 > 0:35:52Shall we say 30,000?
0:35:52 > 0:35:5430,000? 30 I've got.
0:35:54 > 0:35:5732? Anyone give me 32?
0:35:57 > 0:35:5932. 34.
0:36:00 > 0:36:0236.
0:36:02 > 0:36:0338.
0:36:03 > 0:36:0540, sir?
0:36:07 > 0:36:09I'll take one, then.
0:36:09 > 0:36:1139,000. 40,000 with you, sir.
0:36:11 > 0:36:1441, sir? 42?
0:36:14 > 0:36:1542. 43.
0:36:16 > 0:36:1844.
0:36:18 > 0:36:20Is that OK? 44.
0:36:20 > 0:36:2245. 46.
0:36:23 > 0:36:2547. 48.
0:36:25 > 0:36:2749.
0:36:27 > 0:36:2850.
0:36:28 > 0:36:30One? Two?
0:36:30 > 0:36:3252.
0:36:32 > 0:36:3353?
0:36:33 > 0:36:3552. 53 I've got.
0:36:35 > 0:36:3754, sir? 54.
0:36:37 > 0:36:4055. 56.
0:36:40 > 0:36:41A half?
0:36:43 > 0:36:4655,000, then, sir. It's back with you at 55,000.
0:36:46 > 0:36:49I'm gonna sell it at 55,000.
0:36:49 > 0:36:51For the first time at 55.
0:36:51 > 0:36:52Second time.
0:36:52 > 0:36:55Third and final time.
0:36:55 > 0:36:56Sold, sir.
0:36:56 > 0:37:03So, for £55,000, the new owner of the slightly damp two-bedroomed corner house
0:37:03 > 0:37:05is local electrician, Barry.
0:37:07 > 0:37:11- Barry, good to meet you.- Hi. - Congratulations.- Thanks very much.
0:37:11 > 0:37:13Why this particular property?
0:37:13 > 0:37:15This property is in a reasonable area.
0:37:15 > 0:37:19It's close to the Metrolink for Manchester.
0:37:19 > 0:37:22It's close to the motorway. It has a park opposite
0:37:22 > 0:37:27so it's good for a young family and it's reasonably well built.
0:37:27 > 0:37:29It doesn't require a lot of refurbishment.
0:37:29 > 0:37:32- Have you done this before? - It's my second property.
0:37:32 > 0:37:37The first one, I made the crucial errors of getting the price wrong,
0:37:37 > 0:37:39getting the budget wrong,
0:37:39 > 0:37:45and then you have to really struggle to get it back within the pay-back for the rent.
0:37:45 > 0:37:50Tell me how you made those mistakes and what mistakes you actually made.
0:37:50 > 0:37:56I bought it on impulse rather than looking at the market prices that were around.
0:37:56 > 0:37:59I paid too much money, to be fair.
0:37:59 > 0:38:01What went wrong on the budget?
0:38:01 > 0:38:06On the budget, I looked at the house and did it to a standard as if I was going to live in it.
0:38:06 > 0:38:12It lets very easily, but it's costing you a few quid to get it back onto the market.
0:38:20 > 0:38:25So Barry learnt the hard way by not doing his research before buying that house
0:38:25 > 0:38:28and not getting his specification right. Common mistakes.
0:38:28 > 0:38:33And though that one does now do OK on the rental market, I hope he's learnt his lesson.
0:38:34 > 0:38:37I was bored while I was waiting for the lots to come up
0:38:37 > 0:38:41and at that stage, I almost bought a pub, to be honest with you!
0:38:41 > 0:38:43- What?!- There was...
0:38:43 > 0:38:46You've done an impulse buy once before!
0:38:46 > 0:38:49- Remember the trouble it got you into?- Exactly.
0:38:49 > 0:38:53- It was in the Lake District. - Wow.- The guide price was 279.
0:38:53 > 0:38:55- Right.- And I started the bidding at ten!
0:38:55 > 0:39:02- Ten what?- 10,000. And it went up in 5,000 increments to about 45,000
0:39:02 > 0:39:05and then went up in twos till we got to 60,000
0:39:05 > 0:39:08and I thought, "I don't want a pub. I want a house."
0:39:08 > 0:39:12I know what I'm doing with a house. And it went for 61,000.
0:39:12 > 0:39:14- No!- Yeah.
0:39:14 > 0:39:17Don't go to auctions any more, OK?
0:39:17 > 0:39:21When I go, I'll go just in time to get my lot, then come back out again!
0:39:21 > 0:39:25- You were happy with what you got? - Extremely happy with what I got.
0:39:25 > 0:39:29It's a little damper than I thought cos I'd not seen the property beforehand.
0:39:29 > 0:39:32- I've done drive-by valuations. - Right.
0:39:32 > 0:39:36But at 55,000 with windows, doors, walls and ceilings,
0:39:36 > 0:39:38- it's not too bad. - You can't go wrong.
0:39:38 > 0:39:44Barry nearly went for another impulse purchase, buying this without seeing inside.
0:39:44 > 0:39:48But the big difference here is that he does know the prices in the area
0:39:48 > 0:39:52and realised that 55 grand was good for this type of property
0:39:52 > 0:39:55whatever work was required.
0:39:55 > 0:40:00The first job is to clear everything out and then strip the walls
0:40:00 > 0:40:03to 1.2 metres downstairs to remove the damp plaster.
0:40:03 > 0:40:07Then re-instate the plasterwork with a sand and cement render
0:40:07 > 0:40:11with a waterproofing agent to prevent moisture coming in again.
0:40:11 > 0:40:14What about the bathroom? There's a leak around the bath
0:40:14 > 0:40:17which is causing the damp on the ceiling.
0:40:17 > 0:40:21- First, I'm gonna strip the bathroom out completely.- Right.
0:40:21 > 0:40:26Once the bathroom's gone, it'll be reorganised. It doesn't work at the moment.
0:40:26 > 0:40:31The bath is out of the way, the wall is obstructing the light
0:40:31 > 0:40:33to the back end of it, so I'm gonna move the wall
0:40:33 > 0:40:37slightly into the bedroom and put the bath underneath the window.
0:40:37 > 0:40:40What is the budget for this job, then?
0:40:40 > 0:40:44Budget is eight to £10,000. I'd rather go towards six,
0:40:44 > 0:40:47but I'd say eight to £10,000 will cover it.
0:40:47 > 0:40:52- You're confident this time? Not putting gold taps in! - Absolutely confident.
0:40:52 > 0:40:54- The Jacuzzi and...- That's right!
0:40:54 > 0:40:57This one's gonna be done to a high standard
0:40:57 > 0:40:59but a budgeted high standard!
0:41:07 > 0:41:10- #- When you believe there's no mountain you can't climb
0:41:10 > 0:41:14- #- And if you get it wrong, you'll get it right next time...- #
0:41:20 > 0:41:23So, Barry learning the hard way with his first project
0:41:23 > 0:41:26but bringing all that experience into doing this place up.
0:41:26 > 0:41:29A few issues to resolve, not least the damp,
0:41:29 > 0:41:33but I like his plans for the bathroom and that'll sort out those problems.
0:41:33 > 0:41:37Will he stick to his budget this time, though?
0:41:37 > 0:41:39Find out later in the show.
0:41:42 > 0:41:47"Time is money" is a rather over-used phrase. But it's true!
0:41:47 > 0:41:51You can bet your bottom dollar if your project goes over schedule,
0:41:51 > 0:41:53it'll hit your bank balance too!
0:41:53 > 0:41:56Let's look at the recent projects on today's show.
0:42:00 > 0:42:05In a beautiful rural location not far from the bustling Kent town of Rainham,
0:42:05 > 0:42:09I found this two-bed house upright and in military fashion.
0:42:09 > 0:42:13It was built for war veterans returning from the First World War
0:42:13 > 0:42:15and came with a large plot.
0:42:15 > 0:42:20It was starting to show its age and would be a battle to bring it up to modern standards.
0:42:20 > 0:42:25But this suited former Ministry of Defence project manager Andrew very well.
0:42:27 > 0:42:32We have a saying in the military, it's preparation which is essential.
0:42:32 > 0:42:37If you go in well prepared, there's a good chance you'll come out with exactly what you want.
0:42:39 > 0:42:42So, having shelled out 332,000,
0:42:42 > 0:42:47Andrew's plan was to extend and make it modern and eco-friendly.
0:42:47 > 0:42:48So, nearly 18 months on,
0:42:48 > 0:42:50has the plan come together?
0:42:52 > 0:42:55Well, it certainly looks like it,
0:42:55 > 0:42:59as the old house now blends with a fabulous new extension.
0:43:07 > 0:43:12Inside, the tired old rooms and layout have been completely transformed
0:43:12 > 0:43:14to create a large, modern kitchen
0:43:14 > 0:43:17complete with patio doors out to the garden.
0:43:22 > 0:43:25There's a fantastic oak-floored open-plan lounge
0:43:25 > 0:43:28and lots of additional spaces.
0:43:36 > 0:43:39It's been an absolute labour of love for me.
0:43:39 > 0:43:41Some evenings I've come home from work
0:43:41 > 0:43:45and I've been working on the floor till two, three, in the morning.
0:43:45 > 0:43:50But I think if you've got the passion to do something like that, that's great.
0:43:50 > 0:43:53On my grumpy days, and I have a few of them,
0:43:53 > 0:43:57it's fair to say I get home from work and I don't want to do anything.
0:43:57 > 0:44:03But I think on balance, most of the days I've had here have been good, positive days.
0:44:12 > 0:44:15When you're decorating a property,
0:44:15 > 0:44:19you're actually adding your character to the property.
0:44:19 > 0:44:22It's very bland, very white at the moment,
0:44:22 > 0:44:28but over the next few months I'll probably introduce some colour because I'm not that bland a person!
0:44:33 > 0:44:37For the time being at least, the clean white look continues upstairs.
0:44:37 > 0:44:39It's now a four-bedroom house
0:44:39 > 0:44:43with the master bedroom having doors out to what will be a balcony.
0:44:43 > 0:44:45It will also be en-suite.
0:44:52 > 0:44:56And white is the dominant colour in what is a stunningly updated bathroom.
0:45:01 > 0:45:06I think it's fair to say that this is the favourite room in the house.
0:45:06 > 0:45:10It's fair to say that I was a shower man, in and out of the shower.
0:45:10 > 0:45:13But with a bath like this,
0:45:13 > 0:45:14and a view like that,
0:45:14 > 0:45:18I shall probably be spending many an hour with a glass of red in here!
0:45:20 > 0:45:23Now, that is not a bad place to soak up the view, is it?
0:45:23 > 0:45:26Andrew can also enjoy it, happy in the knowledge
0:45:26 > 0:45:29that both his hot water and the waste water
0:45:29 > 0:45:32are being generated and used as efficiently as possible.
0:45:37 > 0:45:41It's not just the inside of the property that took time and effort.
0:45:41 > 0:45:43It was the groundworks.
0:45:43 > 0:45:49To start with, we had to excavate a 2,000-litre LPG tank.
0:45:49 > 0:45:51This supplies the gas to the property.
0:45:51 > 0:45:55In the far corner, we installed a sewage treatment plant.
0:45:55 > 0:46:00That sewage treatment plant is a bespoke system
0:46:00 > 0:46:04which allows the house to vent all of its waste water into the plant
0:46:04 > 0:46:08and then the water drains off into a soakaway
0:46:08 > 0:46:11which is under most of the back of the garden.
0:46:11 > 0:46:15That does away with the old-fashioned cesspool that wasn't very nice.
0:46:15 > 0:46:17In the far side of the property,
0:46:17 > 0:46:19we have a rainwater harvesting system.
0:46:19 > 0:46:24That's a 4,800-litre tank buried underground
0:46:24 > 0:46:27which pumps the water back into the property
0:46:27 > 0:46:31and it's used for the flushing of the toilets and the washing machine.
0:46:31 > 0:46:34With solar panels to heat the water...
0:46:37 > 0:46:39..and energy-efficient glass...
0:46:42 > 0:46:46it's fully insulated to the highest specification.
0:46:46 > 0:46:48The flooring is locally sourced oak.
0:46:51 > 0:46:54The front door is made from reclaimed oak.
0:46:54 > 0:46:58So Andrew is certainly doing his bit for the environment.
0:46:58 > 0:47:01Though this approach will save him money in the long run,
0:47:01 > 0:47:04the initial outlay for this type of house is higher.
0:47:04 > 0:47:08The original budget was £120,000.
0:47:08 > 0:47:12And I actually spent 127,500.
0:47:12 > 0:47:17But I'm very, very pleased with the fact that the finish I've achieved
0:47:17 > 0:47:21for the price I've paid has been extremely worthwhile.
0:47:21 > 0:47:26I don't think a five per cent overspend is that bad, to be honest!
0:47:27 > 0:47:30With that 127,500 spend,
0:47:30 > 0:47:34and £332,000 purchase price,
0:47:34 > 0:47:37Andrew won't see much change from £460,000.
0:47:37 > 0:47:42During the 18 months he's taken to complete his mission,
0:47:42 > 0:47:44the property market has had a downturn.
0:47:44 > 0:47:47So will the house now pass inspection and make the grade?
0:47:47 > 0:47:49This property is outstanding.
0:47:49 > 0:47:51The design of it
0:47:51 > 0:47:53and the space that they've used,
0:47:53 > 0:47:56they've thought of every aspect in a new-build property.
0:47:56 > 0:48:00It's a stunning property. The views are wonderful.
0:48:00 > 0:48:02The bathroom is out of this world.
0:48:02 > 0:48:09Also the kitchen is using every new technology as well.
0:48:09 > 0:48:13These days, all the buyers are very conscious of the environment.
0:48:13 > 0:48:19Anything that saves their costs in the running of the property is a really good selling point.
0:48:20 > 0:48:23So Andrew's house has generally been given the green light.
0:48:23 > 0:48:27But has he invested his £460,000 wisely?
0:48:29 > 0:48:31I would market it minimum 550,000
0:48:31 > 0:48:35and it could possibly be pushed to over 600,000.
0:48:35 > 0:48:39I would suggest marketing between 550,000 to 600,000.
0:48:39 > 0:48:42That's excellent news.
0:48:42 > 0:48:45A possible pre-tax profit of about 90 grand.
0:48:45 > 0:48:50And, of course, he's got a fantastic house. What does he think?
0:48:50 > 0:48:53It's very good. I mean, obviously from the start,
0:48:53 > 0:48:56I set out to build this property as a home to live in
0:48:56 > 0:48:58rather than an investment.
0:48:58 > 0:49:03It's a ballpark figure and I'm very happy with that but it's not my intention to sell.
0:49:04 > 0:49:07With Andrew putting his heart and soul into the project,
0:49:07 > 0:49:10I guess this will be his base for many years to come.
0:49:10 > 0:49:12Will he do another one?
0:49:14 > 0:49:16It would have to be a special property.
0:49:16 > 0:49:20I'd like something a little more quirky next time.
0:49:20 > 0:49:23So not everybody's cup of tea,
0:49:23 > 0:49:28but I'd like to convert something like a nuclear bunker
0:49:28 > 0:49:30or a water tower
0:49:30 > 0:49:31or some type of folly.
0:49:31 > 0:49:33That would be very interesting.
0:49:33 > 0:49:37But for the time being, given that I've got a very busy job,
0:49:37 > 0:49:41I should put my feet up and enjoy what I've produced here.
0:49:41 > 0:49:43Quite right, too!
0:49:43 > 0:49:47Though he's still got to build a balcony before he can sit and enjoy those views.
0:49:47 > 0:49:52There are a few more challenges ahead until he can finally stand easy!
0:50:01 > 0:50:05Just outside Bury in the small suburb of Whitefield,
0:50:05 > 0:50:08a two-bedroomed terraced house went up for auction.
0:50:08 > 0:50:13Local electrician Barry bought it for 55,000.
0:50:13 > 0:50:16The property came with pluses and minuses.
0:50:16 > 0:50:19On the plus side, it was a really good price,
0:50:19 > 0:50:22opposite a play area and near the M60.
0:50:22 > 0:50:26It was also close to a tram station for Bury or Manchester.
0:50:26 > 0:50:30However, on the minus side, some might say it was too close
0:50:30 > 0:50:33and there were damp issues.
0:50:33 > 0:50:37But Barry was confident there was nothing he couldn't tackle.
0:50:37 > 0:50:43Damper than I thought. I hadn't been in to the property. I'd done drive-by valuations.
0:50:43 > 0:50:47- Right.- But at 55,000, with windows, doors, walls and ceilings,
0:50:47 > 0:50:50- it's not too bad!- Can't go wrong.
0:50:50 > 0:50:52This was only Barry's second property
0:50:52 > 0:50:55and on his first he'd paid slightly over the odds.
0:50:55 > 0:50:57He then spent too much on the renovation,
0:50:57 > 0:51:02falling into the common trap of doing it as though he was going to live there himself.
0:51:02 > 0:51:05In the end, that one did work out OK,
0:51:05 > 0:51:08but it's with trepidation we go back three months later
0:51:08 > 0:51:11to see if he's learned from his mistakes.
0:51:19 > 0:51:23- #- When you believe there's no mountain you can't climb
0:51:23 > 0:51:26- #- And if you get it wrong you'll get it right next time- #
0:51:30 > 0:51:34I thought it was general decoration at first, but the damp was quite evident.
0:51:34 > 0:51:36And it was quite serious.
0:51:40 > 0:51:44What we had to do is remove the inner skin of the gable-end wall
0:51:44 > 0:51:46and remove the blockage in the cavity.
0:51:46 > 0:51:49Then renew the damp-proof membrane,
0:51:49 > 0:51:51rebuild it,
0:51:51 > 0:51:53and then obviously re-plaster it.
0:51:54 > 0:51:56Yes, it's all so much better
0:51:56 > 0:51:59but Barry still can't stop personalising the house!
0:52:06 > 0:52:09In the kitchen we put a range of new units.
0:52:09 > 0:52:11We've plastered everywhere.
0:52:11 > 0:52:13We've put a new washing machine,
0:52:13 > 0:52:16oven, hob, extractor.
0:52:16 > 0:52:21All I've got left to do really is tile this splash-back here
0:52:21 > 0:52:24where the sink is and then it's a completed job.
0:52:24 > 0:52:27The kitchen is looking pretty good.
0:52:27 > 0:52:32It's great that Barry's installed all the appliances, ready for a tenant to move in.
0:52:34 > 0:52:40But how has he got on upstairs and in particular in that bathroom where he had big plans?
0:52:45 > 0:52:49From the last time you came we've removed the wall, moved it slightly
0:52:49 > 0:52:52to accommodate the bath under the window.
0:52:52 > 0:52:56We fitted a separate shower, a double sink unit, some storage at the end,
0:52:56 > 0:52:59shelving units, new lighting in the ceiling
0:52:59 > 0:53:04and fully tiled it. I'm quite proud of this room. It's my special room.
0:53:04 > 0:53:07I'm not surprised he's pleased with the bathroom.
0:53:07 > 0:53:11But I have to say it looks a little over spec for the rental market,
0:53:11 > 0:53:15as do the two main bedrooms with their built-in wardrobes.
0:53:17 > 0:53:21And very personalised wallpaper.
0:53:21 > 0:53:24Has Barry slipped back into his old habits?
0:53:24 > 0:53:27I didn't approach this any differently to the last one.
0:53:27 > 0:53:32However, I think that passion got the better of me.
0:53:32 > 0:53:35The appeal to the wider marketplace led me to spend a bit more.
0:53:35 > 0:53:38The original budget was eight to £10,000.
0:53:38 > 0:53:41I've actually spent closer to £12,000.
0:53:41 > 0:53:46But that didn't include the roof. And the roof was the overspend.
0:53:46 > 0:53:48But he hasn't gone too mad
0:53:48 > 0:53:51and has certainly got a lot for his money.
0:53:51 > 0:53:57Barry's had to do the renovation whilst still doing his full-time electrician's job.
0:53:57 > 0:53:59It's difficult to juggle the two jobs.
0:53:59 > 0:54:03It's led to a lot of long days, long nights,
0:54:03 > 0:54:04seven days a week.
0:54:04 > 0:54:09I'll be glad when I can close the front door with a tenant in it
0:54:09 > 0:54:11and walk away and have a good rest.
0:54:11 > 0:54:13But is that day imminent
0:54:13 > 0:54:15or has he made it too individual
0:54:15 > 0:54:17even though to a high standard?
0:54:17 > 0:54:20With an original purchase price of 55,000
0:54:20 > 0:54:22and a £12,000 spend,
0:54:22 > 0:54:25Barry will have spent close to £70,000.
0:54:25 > 0:54:28So, what do two local estate agents think?
0:54:32 > 0:54:35He's done the property very nicely.
0:54:35 > 0:54:38It's a good sized house. He's over-stylised it a bit!
0:54:38 > 0:54:43I think the bathroom has been done a bit too tasty for this property.
0:54:43 > 0:54:46Maybe a bit too much spent on it.
0:54:46 > 0:54:50The bathroom is far too full. Far too much in it.
0:54:50 > 0:54:56I think they've been to the bathroom place and chosen everything they liked and shoved it into that space!
0:54:56 > 0:55:02The bedroom we're in now has far too much furniture in it. There's nowhere to put a bed!
0:55:02 > 0:55:04I think the decoration has been done great.
0:55:04 > 0:55:07Plastered and painted walls are in at the moment.
0:55:07 > 0:55:12I think the papered walls make it a bit more unique.
0:55:12 > 0:55:14They've used too many wallpapers
0:55:14 > 0:55:16which could possibly put people off.
0:55:16 > 0:55:21Barry has invested around £70,000 in this house.
0:55:21 > 0:55:25What do those disappointing verdicts mean for the value here?
0:55:25 > 0:55:29I'd put this property on the market for around 90 to £95,000.
0:55:29 > 0:55:33If I were to market this property, I'd put it on the market at £95,000.
0:55:33 > 0:55:35I'm quite pleased with those values.
0:55:35 > 0:55:3890 to 95,000 is higher than I expected.
0:55:38 > 0:55:40So yes, it's quite a good result.
0:55:40 > 0:55:45That could potentially see a healthy profit of around £25,000.
0:55:45 > 0:55:48But Barry wasn't after a short-term investment.
0:55:48 > 0:55:51This was always intended to be a long-term rental.
0:55:51 > 0:55:56This property would rent for approximately £550 per calendar month.
0:55:56 > 0:55:58If I put this on the market to rent,
0:55:58 > 0:56:02I would suggest asking £495 per calendar month.
0:56:02 > 0:56:05I'd be quite happy with 515, 525,
0:56:05 > 0:56:10so somewhere in between those two valuations would be a reasonable return.
0:56:10 > 0:56:14£6,000 a year would certainly hit tick-over values
0:56:14 > 0:56:15and with a little profit as well.
0:56:15 > 0:56:19But Barry might have done better well if he'd curbed his spending.
0:56:19 > 0:56:23Is it time for a change of philosophy, perhaps?
0:56:23 > 0:56:26I wouldn't have done anything too differently, to be honest.
0:56:26 > 0:56:29I think if you renovate the property to a high standard,
0:56:29 > 0:56:34you'll let it rather quickly which gives you a greater revenue.
0:56:35 > 0:56:38So it looks like he's going to stick to his guns.
0:56:38 > 0:56:42Let's hope he's right and that he'll get a tenant soon.
0:56:51 > 0:56:55You never know what you'll hear next on Homes Under The Hammer!
0:56:55 > 0:56:59Join us next time for more tales of subsidence or success!
0:56:59 > 0:57:01- See you then!- Goodbye!- Bye!
0:57:21 > 0:57:24Subtitles by Red Bee Media Ltd