0:00:02 > 0:00:05- Hello.- As a nation, we are obsessed with property.
0:00:05 > 0:00:09- And no-one more so than Lucy and I. - Absolutely.
0:00:09 > 0:00:15It's a topic that keeps dinner party guests talking into the small hours. And everybody has an opinion.
0:00:15 > 0:00:20And it's our opinion that the best place to buy your property is under the hammer.
0:00:45 > 0:00:49The auction catalogue can give you clues about a property,
0:00:49 > 0:00:55but it's not until you look inside that you know whether it's going to be a goldmine or a money pit.
0:00:55 > 0:00:59It's up to you to dig beneath the surface of your investment.
0:00:59 > 0:01:03So let's see what's coming up on today's show.
0:01:04 > 0:01:09In Stoke-on-Trent, the bad news is the kitchen's pretty tiny.
0:01:09 > 0:01:14The good news, though, is that is a stud partition wall.
0:01:14 > 0:01:20'This block of bedsits in London needs to go back to basics.'
0:01:20 > 0:01:24Rip all this out and just give it back a bit of soul.
0:01:24 > 0:01:28'And remember this 400-year-old listed house in Wiltshire?
0:01:28 > 0:01:35'We returned to see the hidden gems uncovered after its remarkable restoration.'
0:01:36 > 0:01:41'All these properties were sold at auction and we see who bought them and what they paid
0:01:41 > 0:01:44'when they went under the hammer.'
0:01:46 > 0:01:51I'm in Stoke-on-Trent today on the border of Fenton and Longton.
0:01:51 > 0:01:57It's mainly residential here with terraced houses that used to be home to workers at the famous potteries.
0:01:57 > 0:02:02An interesting one as not only does the property have two addresses,
0:02:02 > 0:02:05you seem to get a lot of property for your money.
0:02:05 > 0:02:08You've got a commercial unit. You've got two flats.
0:02:08 > 0:02:15You've got a workshop and outdoor space, all for a guide price of just 45,000 quid plus.
0:02:15 > 0:02:17Better take a look inside.
0:02:17 > 0:02:21Well, you can see from the signage outside that this used to be a furniture shop.
0:02:21 > 0:02:27There isn't much space to store furniture, but this would work quite well as a commercial unit
0:02:27 > 0:02:32because there's a double aspect with the main road there and other windows there,
0:02:32 > 0:02:38so there's lots of display area. So we like that. One thing we're not so keen on is that. Look at that.
0:02:38 > 0:02:44That's a manhole cover. Imagine the smells that'll come out of that if this is active as a sewer.
0:02:44 > 0:02:50You can get special covers to go on there which would seal it which you'd definitely have to do.
0:02:50 > 0:02:56You could put in a loo, so that the people who worked here wouldn't have to go next door to use the toilet.
0:02:56 > 0:03:00So if you're thinking about using this as a commercial unit, great.
0:03:00 > 0:03:07To convert it into anything else, you'll need planning permission. Let's see the rest of the property.
0:03:07 > 0:03:13Above the corner shop is one of the two flats offered as part of this auction lot.
0:03:13 > 0:03:19Upstairs, good-sized flat. But it isn't making the most of the space with the layout.
0:03:19 > 0:03:22You've got this corridor over there.
0:03:22 > 0:03:28Decent-sized bedroom. And you've got the bathroom and the loo. But it's not quite working for me.
0:03:28 > 0:03:34This room, though, is quite a good size, if you ignore some of the strange fitted furniture.
0:03:34 > 0:03:40But this is where it starts to go horribly wrong. This is the kitchen and it is a complete disaster.
0:03:40 > 0:03:44It's narrow. It's falling to pieces!
0:03:44 > 0:03:48The good news, though, is that is a stud partition wall.
0:03:48 > 0:03:55So it wouldn't take much to take that out, make this an open kitchen-living area, and job done.
0:03:55 > 0:04:00Like the shelves, there are some aspects to this flat that are odd.
0:04:00 > 0:04:04The main bedroom has no natural light.
0:04:04 > 0:04:08And there's a blocked-up doorway in the partition wall to the bathroom.
0:04:08 > 0:04:12Definitely a re-think needed here, I'd say.
0:04:12 > 0:04:18The second flat is on two levels at the back of the property. So what condition will this one be in?
0:04:18 > 0:04:22In contrast, the layout of this flat I really like.
0:04:22 > 0:04:26You've got the bedroom upstairs. You've got the living room here.
0:04:26 > 0:04:31And hallelujah, a decent kitchen. It's not huge but I like the layout.
0:04:31 > 0:04:37And these particular units will be fairly serviceable. You've got a loo and a bathroom at the back.
0:04:37 > 0:04:43And you've got your own private access, an exterior door, which is exactly what you need.
0:04:43 > 0:04:50Creating separate entrances to both flats makes this lot a potentially rewarding prospect.
0:04:50 > 0:04:56By blocking up a few doorways, you could give each flat its own entrance, separate from the shop.
0:04:56 > 0:04:58And there's more.
0:04:59 > 0:05:05Well, what a fantastic bonus this is! Out in the rear yard, you've got this additional building.
0:05:05 > 0:05:09It's obviously some kind of a workshop. But it's on two storeys.
0:05:09 > 0:05:15And I don't think it'd be too hard to get planning permission to convert that into a maisonette.
0:05:15 > 0:05:19And even better, out the back here, look, lots of building materials.
0:05:19 > 0:05:25Now, if you were to try and get things like this, you'd have to go to an architectural salvage yard.
0:05:25 > 0:05:29This is great news if you need another brick in the wall.
0:05:29 > 0:05:33# All in all it's just another brick in the wall... #
0:05:33 > 0:05:36Well, I really like this property.
0:05:36 > 0:05:41So much potential which could hopefully be realised without spending too much.
0:05:41 > 0:05:47But converting the workshop into a liveable building would take a bit more time and money.
0:05:47 > 0:05:51At the moment you can't even get up to the first floor without a ladder.
0:05:51 > 0:05:55What will a local estate agent think of it?
0:05:55 > 0:06:00For the flat and the shop, the main area of improvement is cosmetic.
0:06:00 > 0:06:04There seems to be a problem with the roof in the upper bedroom.
0:06:04 > 0:06:08And the rear outbuilding needs complete renovation.
0:06:08 > 0:06:13At a guide price of 45,000, how much could this be worth once renovated?
0:06:14 > 0:06:22I'd estimate the resale value of the property, once it's been converted, in the region of £90,000 to £95,000.
0:06:22 > 0:06:26If this project was done well and each area decorated individually,
0:06:26 > 0:06:30I think they could fetch more. And there's the rental option.
0:06:30 > 0:06:35Separate flats, each earning perhaps £300 to £350 per month.
0:06:35 > 0:06:41And depending on what you did with the building at the rear, whether it's living accommodation or retail,
0:06:41 > 0:06:44again, similar sort of values.
0:06:45 > 0:06:51Well, oatcakes are a traditional food in this part of north Staffordshire.
0:06:51 > 0:06:58And in terms of this property, there are so many options, I think you can have your oatcake and eat it.
0:06:58 > 0:07:01Let's see what happened at the auction.
0:07:04 > 0:07:06A two-storey retail unit.
0:07:07 > 0:07:1040, I'm bid. Thank you. At £40,000.
0:07:10 > 0:07:14Can we say 45? 45. Thank you. At 45. 50.
0:07:14 > 0:07:1755. 60.
0:07:17 > 0:07:21Oh, a new bidder. £60,500.
0:07:21 > 0:07:2461? 61.
0:07:24 > 0:07:2761 and a half. 62.
0:07:27 > 0:07:3062 and a half. 63.
0:07:30 > 0:07:32And a half. 64.
0:07:32 > 0:07:3665. Do you want to go 66, sir? 66.
0:07:36 > 0:07:4267. 68. 69.
0:07:42 > 0:07:4470. 71.
0:07:46 > 0:07:4872.
0:07:48 > 0:07:5073.
0:07:50 > 0:07:52Bid seated at 73. I'm selling.
0:07:52 > 0:07:56£73,000 then for the first time.
0:07:57 > 0:08:01At £73,000 for the second time.
0:08:01 > 0:08:06At £73,000, third and final time.
0:08:07 > 0:08:10You bought it. Well done.
0:08:10 > 0:08:16'The guide price was 45,000, but husband and wife Paul and Wendy paid 73,000.
0:08:16 > 0:08:22'They're full-time developers and landlords, so they're no strangers to auctions
0:08:22 > 0:08:26'and have other properties in the Stoke area.'
0:08:26 > 0:08:32- Paul, Wendy, good to meet you both. Tell me why you wanted to buy it. - It's got a lot of potential.
0:08:32 > 0:08:36You've got a shop front and it's set up for two flats at the minute.
0:08:36 > 0:08:42- Plus you've got the outside building at the back.- Yes. It struck me - the place has so many options.- Yeah.
0:08:42 > 0:08:49- What's your experience in this? - We've been developing property full-time for six years.
0:08:49 > 0:08:53- Oh, wow!- Part-time for 16. - What kind of stuff?
0:08:53 > 0:08:59Mainly commercial. But when the commercial property market dried up, we started buying residential.
0:08:59 > 0:09:04'As they already have 33 industrial units and 11 residential properties,
0:09:04 > 0:09:08'they must know what to look for in a building.'
0:09:08 > 0:09:11Good value for money. Um...
0:09:11 > 0:09:17Something you can sort of turn round and make it a little bit different.
0:09:17 > 0:09:23- So what was it about this place that you liked, Wendy?- Well, the size and the little building at the back.
0:09:23 > 0:09:28That's going to be a little one-bedroom maisonette...
0:09:28 > 0:09:32- Right.- Hopefully. Yeah. It's got a lot of character.
0:09:32 > 0:09:37- Plus, Paul looked at it 25 years ago.- What?- Yes. - He looked at this 25 years ago.
0:09:37 > 0:09:42- 12 grand.- He couldn't afford it, so we came back cos it was back on the market.
0:09:42 > 0:09:48'Paul eventually got what he wanted. He just had to wait 25 years and pay an extra 61,000.
0:09:48 > 0:09:52'It can't just have been nostalgia that made him want it.'
0:09:52 > 0:09:58- Good income potential.- Very good. Off the whole site, we reckon we'd get over 13,000 a year.
0:09:58 > 0:10:04- Really? Talk me through the numbers.- We weren't really interested in the front shop.
0:10:04 > 0:10:10- So whatever we can get for that, it's just a bit of a bonus.- You're going to keep that as a shop unit?
0:10:10 > 0:10:16- Yeah.- OK.- And let that, we thought about 30 quid a week. Yeah? And then you've got the two flats.
0:10:16 > 0:10:22The downstairs one is a bit small. It's got a very small bedroom. So maybe about 300 a month?
0:10:22 > 0:10:29The upstairs one, it's a bit bigger, about 325. The back one, when that's all done, about 350 a month.
0:10:29 > 0:10:32- Right.- So in total just over 13 grand a year.
0:10:32 > 0:10:38'That's good. Before they can make that sort of money, there's a bit of work to do.
0:10:38 > 0:10:44'Upstairs, they will remove the wall between the kitchen and the lounge to create a kitchen-living room.
0:10:44 > 0:10:50'And re-arrange the bathroom so the bedroom wall can be opened up to allow some light in.
0:10:50 > 0:10:54'In the downstairs flat, the ceiling needs insulating and fireproofing.
0:10:54 > 0:10:59'They will brick up an entrance door to separate the flats and tidy the place up.
0:10:59 > 0:11:03'The shop is also going to have the ceiling done.
0:11:03 > 0:11:09'Because that drain only has a fresh water pipe running through it, a loo will be built in the back.
0:11:09 > 0:11:13'And all the wiring will be renewed. And that still leaves the workshop.'
0:11:13 > 0:11:18Downstairs, as you go in, we'll put a new set of stairs in.
0:11:18 > 0:11:22Kitchen area... So downstairs you've got a lounge-diner again.
0:11:22 > 0:11:26Then upstairs you've got obviously a toilet and your bathroom's separate.
0:11:26 > 0:11:33- There'll be fitted wardrobes because obviously you'll be limited on space. - It's all going to be fitted.
0:11:33 > 0:11:38- We have done one of those before and it was smaller. - It turned out OK?- It was beautiful.
0:11:38 > 0:11:44'I can't wait to see what they do with that workshop area. I bet they've sorted the budget.'
0:11:44 > 0:11:51We were just going to convert the two flats. The outbuilding was initially going to be just repaired
0:11:51 > 0:11:53and just rent it out as a lock-up.
0:11:53 > 0:12:00So we thought then the entire area for 7,000. But since we're going to do what we're going to do outside,
0:12:00 > 0:12:02we reckon about 17 in total.
0:12:02 > 0:12:04OK. And a kind of timescale?
0:12:04 > 0:12:07- Eight weeks. - Eight weeks to do all that?
0:12:07 > 0:12:12- Yeah.- It'll be done. - You sound pretty certain about that.- It'll be done.
0:12:12 > 0:12:18Well, I don't know about oatcakes, but Wendy and Paul are certainly two smart cookies.
0:12:18 > 0:12:25And they've got exactly the right idea to sort this place out, to turn it into a money-making machine.
0:12:25 > 0:12:29Still, there is a lot of work to be done to sort it out.
0:12:29 > 0:12:32And can Paul really get it completed in just eight weeks?
0:12:32 > 0:12:35You can find out later in the show.
0:12:37 > 0:12:41I'm in an area of south-east London known as Hither Green.
0:12:41 > 0:12:45Snugly tucked between vibrant Lewisham and trendy Blackheath,
0:12:45 > 0:12:51Hither Green often attracts a more mature resident whose partying days are over. Why?
0:12:51 > 0:12:58Well, much of the area was developed by one Archibald Corbett, a Scot with a hard line in temperance,
0:12:58 > 0:13:04who decided that no pubs be built in the neighbourhood, thus saving the Victorians from temptation.
0:13:04 > 0:13:07Now, over a century on, his legacy lives.
0:13:07 > 0:13:12The area is up and coming, but perhaps a tad sleepy.
0:13:12 > 0:13:20# There's a place I call Sleepy Hollow
0:13:20 > 0:13:25# Where I go when you're not around... #
0:13:25 > 0:13:31But fear not. You don't need to go far for a more exciting pace of life.
0:13:31 > 0:13:38Lewisham has bars aplenty. And from Hither Green train station, you can get into London in 15 minutes.
0:13:38 > 0:13:42Hither Green is split into two halves by the railway line.
0:13:42 > 0:13:46And property to the north, nearer Blackheath, is 15% more expensive
0:13:46 > 0:13:49than the south side, bordering Catford.
0:13:49 > 0:13:54Now, the property I'm here to see today is on the south side, but only just.
0:13:54 > 0:14:00And as I was hoping, it's on a lovely Victorian street. It's a three-bedroomed mid-terrace.
0:14:00 > 0:14:07It's got a guide price of only 170,000 to 180,000. It's here. Let's have a look around.
0:14:09 > 0:14:15I'm aware this property has been let as bedsits. And it was owned by a housing trust for 15 years.
0:14:15 > 0:14:20But as soon as you walk in, that's exactly what it feels like.
0:14:20 > 0:14:22More like an office than a home.
0:14:22 > 0:14:27Through here into the reception room, it's a nice size but utterly characterless.
0:14:27 > 0:14:30You've got woodchip wallpaper, cheap carpets.
0:14:30 > 0:14:35The fireplace has been boarded up. I wonder if it's still inside or it's been sold on?
0:14:35 > 0:14:40Got lovely high ceilings. Original sashes and that is great to see.
0:14:40 > 0:14:44But it just feels to me this house has been smothered by practicality.
0:14:44 > 0:14:49Firstly, I would rip all this out and just give it back a bit of soul.
0:14:49 > 0:14:51# I'm a soul man
0:14:53 > 0:14:55# I'm a soul man... #
0:14:55 > 0:15:02In the hall, there are some features that have survived - beautiful spindles and some lovely cornicing.
0:15:02 > 0:15:06The second reception room has been stripped back to its bare bones.
0:15:06 > 0:15:12There's also a lurid but useful downstairs loo. And then there's the kitchen.
0:15:12 > 0:15:17The kitchen is at the rear of the property. It's HUGE!
0:15:17 > 0:15:22It's larger than the back garden. But it just feels like a shell.
0:15:22 > 0:15:28Maybe that's not such a bad thing. You've got central heating. It's all been well maintained.
0:15:28 > 0:15:33You've got here what they call in the trade a blank canvas.
0:15:33 > 0:15:36# You can do anything you want to do
0:15:36 > 0:15:40# It's not wrong What I sing is true
0:15:40 > 0:15:42# You can do anything you want to do
0:15:42 > 0:15:46# Do what you want to... #
0:15:46 > 0:15:51Upstairs, there are three good-sized bedrooms and bathroom which doesn't look bad.
0:15:51 > 0:15:57There's a separate loo. But you could knock down the wall and make a useful family bathroom.
0:15:57 > 0:16:03With a lick of paint, it's certainly a canvas that could be turned into a masterpiece,
0:16:03 > 0:16:06all for a guide price of 170,000 to 180,000.
0:16:06 > 0:16:10I've been working out how much you could end up spending here
0:16:10 > 0:16:16to bring this house back to its former glory. Straight away, I'd get rid of these horrible fire doors.
0:16:16 > 0:16:20Reclaimed Victorian panel doors will set you back at least 100 quid each.
0:16:20 > 0:16:24And with ten doors in this house, that's a tidy grand.
0:16:24 > 0:16:30You'd certainly want at least one, nice big fireplace in keeping with the period of the house.
0:16:30 > 0:16:37That could cost you around £800 cheapest. I'd also look to get some nice cornicing re-instated.
0:16:37 > 0:16:41And plaster moulding, you're looking at over £7 per metre for that.
0:16:41 > 0:16:47So there's several thousand quid gone and I've not even started on the kitchen and the bathroom.
0:16:47 > 0:16:51You can do all of this on a budget by being clever and shopping around.
0:16:51 > 0:16:55But once you get started, it can be very hard to stop.
0:16:55 > 0:16:57# Can't stop Addicted to the shindig
0:16:57 > 0:17:00# Chop top, he says "I'm gonna win big"
0:17:00 > 0:17:02# Choose not a life of imitation
0:17:02 > 0:17:05# Distant cousin to the reservation... #
0:17:05 > 0:17:11Budgets like this have a habit of sucking you in, plus the contents of your wallet at the same time.
0:17:11 > 0:17:16To see if it's worth that, I asked a local estate agent to have a look.
0:17:17 > 0:17:21There's some work that needs doing in the property.
0:17:21 > 0:17:28The bathrooms could be... It'd be nice to put a new bathroom in, to decorate the property throughout.
0:17:28 > 0:17:34Original doors, if you're able to source those. Maybe consider sanding and varnishing the floors
0:17:34 > 0:17:37to bring it back to its original period style.
0:17:37 > 0:17:44If renting it out, you needn't go to town on the period features or install a new kitchen and bathroom.
0:17:44 > 0:17:49A bit of general tidying would probably do.
0:17:49 > 0:17:54To rent this property as one dwelling, it should value at £1,100 to £1,200 per month.
0:17:54 > 0:18:00The guide price at auction was between 170,000 to 180,000.
0:18:00 > 0:18:04If the property were renovated, how much could it be worth?
0:18:04 > 0:18:10I think the value of this property could be worth round about 275,000 to 280,000.
0:18:10 > 0:18:17That's good. Depending on the cost of restoring this place, there's potential for profit.
0:18:17 > 0:18:21This house in Hither Green doesn't exactly shout, "Come hither!"
0:18:21 > 0:18:27But it doesn't need much work to bring it up to a liveable standard and for those with deeper pockets,
0:18:27 > 0:18:33it's a chance to restore a beautiful Victorian home. Get it for near the guide price and it's a great buy.
0:18:33 > 0:18:36Let's see who thought so at the auction.
0:18:41 > 0:18:47Mid-terrace house. Bidding on the phone. Somebody start me at £150,000?
0:18:47 > 0:18:49150, may I say? Thank you. 150 I'm bid.
0:18:49 > 0:18:53180 I'm bid now. Gentleman there with the black coat.
0:18:53 > 0:18:5687. 88. 89.
0:18:56 > 0:18:5889. 90.
0:18:58 > 0:19:0196. 97? 97. 98?
0:19:01 > 0:19:0497 on my right, first time.
0:19:04 > 0:19:08- Second time. It's going to go. - Keep going.
0:19:08 > 0:19:13Hello, Douglas. You've been very quiet. 198. 99. 200?
0:19:13 > 0:19:18199 there on the right. First time at 199. 200 could be his limit.
0:19:18 > 0:19:21200. 201? 201. Still there.
0:19:21 > 0:19:26Nice and strong. 202. Two and three. Three and four.
0:19:26 > 0:19:28Four and five. Five and six.
0:19:28 > 0:19:31Six and seven. Seven and eight.
0:19:31 > 0:19:34Eight and nine. First time at 209...
0:19:36 > 0:19:40Second time at 209. Come on, just one more. 210. Thank you. 11, sir?
0:19:40 > 0:19:4311. 12. Just one more?
0:19:45 > 0:19:50211 against the lady here in the green. Yours once again, sir. Hanging in there.
0:19:50 > 0:19:52211 for the first time.
0:19:52 > 0:19:58Second time. Third and last time. At £211,000. Last chance.
0:19:58 > 0:20:03I think we're there. 211, your bid, sir. Well done. 211. Thank you.
0:20:03 > 0:20:07'With the help of his dad, the winning bidder was Tom.
0:20:07 > 0:20:12'He got the house for 211,000, 31 grand above the upper guide price.
0:20:12 > 0:20:16'Tom works for a PR company and he's also an actor.
0:20:16 > 0:20:21'He almost lost the property when he got stage fright at the auction!'
0:20:21 > 0:20:25My dad said to me, "Don't bid straight away. Let people get going."
0:20:25 > 0:20:29Then he said, "Going once, twice." I realised I hadn't bid anything.
0:20:29 > 0:20:34The first time I was like, "Yes." I had no idea what I was doing.
0:20:34 > 0:20:40- When you first clapped eyes on this house, what did you think?- I was buying a flat and that fell through.
0:20:40 > 0:20:46And my mum... Because I always wanted a Victorian house, but I didn't think I could afford it.
0:20:46 > 0:20:52My mum emailed me the website link for the auction and I drove up and looked outside.
0:20:52 > 0:20:57I fell in love with it. I thought there was no way I could afford it.
0:20:57 > 0:21:03But the guide price was in my region, but I couldn't go too much further. I just couldn't believe it.
0:21:03 > 0:21:10Is the way the property market is at the moment allowed you to get more for your money?
0:21:10 > 0:21:16Yes. I got this house for the same price as the flat I was looking at, a one-bedroom flat, six months ago.
0:21:16 > 0:21:21'That's not bad. The financial downturn has done Tom a favour.
0:21:21 > 0:21:27'He's got a three-bedroom house instead of a one-bedroom flat. What more could he want?'
0:21:27 > 0:21:31I would've loved it if there'd been more original features.
0:21:31 > 0:21:35But now I see it as a challenge to try and put them back in.
0:21:35 > 0:21:41- So what sort of features are you looking at to put back? - Skirting boards. Coving. Fireplaces.
0:21:41 > 0:21:45I'll need to get somebody to look in and see if I can put fireplaces in.
0:21:45 > 0:21:52Probably change the kitchen later on as it's fine. And get all the floorboards up, bring it all back.
0:21:52 > 0:21:58So how do you think you'll feel living in this house as it is? It's in a pretty raw state at the moment.
0:21:58 > 0:22:04I am really excited, to be honest. I don't really care about the state because it's my house.
0:22:04 > 0:22:07I feel like it's my house so I don't care.
0:22:07 > 0:22:14Also this year is the first year that I'm doing Christmas for my family, so they're all staying with me.
0:22:14 > 0:22:18I've got Grandma, Mum and Dad and maybe my brother.
0:22:18 > 0:22:23- They're coming to you?- I've got four weeks to get it ready for them.
0:22:23 > 0:22:28My grandma can't stay in here. I'll have to do something snazzy with one room.
0:22:28 > 0:22:33'Four weeks to get a room fit enough for Grandma will take some doing!
0:22:33 > 0:22:36'With all this work to do, I hope he's a dab hand at DIY.'
0:22:36 > 0:22:43I think my dad's expecting a lot of phone calls. Mum gets the phone calls if I cook.
0:22:43 > 0:22:49- I think with Dad, it's going to be, "How do I sand the whatever?" - "And can you lend me...?"
0:22:49 > 0:22:54In fact, he's bringing his tools today as I haven't got anything.
0:22:54 > 0:23:00- So I rang my dad and he's brought hammers and...- So you don't have a hammer, a screwdriver?
0:23:00 > 0:23:05I have a screwdriver and um... What else do I have? I have a screwdriver...
0:23:05 > 0:23:11And sanding paper for a sander that I borrowed off my dad, but I gave the sander back.
0:23:11 > 0:23:13# If I had a hammer
0:23:13 > 0:23:16# I'd hammer in the morning
0:23:16 > 0:23:19# I'd hammer in the evening
0:23:19 > 0:23:22# All over this land... #
0:23:22 > 0:23:28'A screwdriver and some sandpaper is a start but I think he'll need to buy a few more tools.
0:23:28 > 0:23:32'Let's hope the budget can take a hammering.'
0:23:32 > 0:23:36I've got enough to do the living room, this room and a bathroom.
0:23:36 > 0:23:41And I'll sand the floors myself by hand, so... Well, with a machine, not by hand.
0:23:41 > 0:23:44- Yes, that would hurt! - With a machine.
0:23:44 > 0:23:50And then all the other stuff like tiling floors, tiling the kitchen and stuff,
0:23:50 > 0:23:53that's a longer-term job, but I'd imagine 20 grand overall.
0:23:53 > 0:23:59I'm delighted for Tom. He really loves this house. And I'm just so pleased he's going to do it justice.
0:23:59 > 0:24:07So will we find a changed man when we return? Will Tom be a DIY disaster or a renovating revelation?
0:24:07 > 0:24:09Find out later on in the show.
0:24:10 > 0:24:16'Coming up - when we last saw this listed house in Wiltshire, it needed some TLC.
0:24:16 > 0:24:20'Later on, you can see how it's been restored.
0:24:21 > 0:24:26'In London, the new owner of this place grapples with a new enemy - woodchip.'
0:24:26 > 0:24:31I've employing somebody to do the living room and dining room as I can't face it any more.
0:24:32 > 0:24:37'Have those Stoke properties lived up to their buyers' high hopes?'
0:24:37 > 0:24:40- A good income potential.- Very good.
0:24:42 > 0:24:47# Just the two of us We can make it if we try
0:24:47 > 0:24:49# Just the two of us...
0:24:49 > 0:24:51# Just the two of us... #
0:24:51 > 0:24:58Paul and Wendy bought a lot, and I mean a lot, a shop, two flats and a workshop in Fenton, Stoke-on-Trent.
0:24:58 > 0:25:03They paid £73,000. But could they have paid less?
0:25:04 > 0:25:11Paul looked at this property 25 years ago when he was looking at buying. And he couldn't afford it.
0:25:11 > 0:25:16Well, they've got it now. And it looks like they've been busy.
0:25:16 > 0:25:19- # Ain't no stopping us now - That's right
0:25:19 > 0:25:21# We're on the move
0:25:21 > 0:25:23# We've got the groove... #
0:25:23 > 0:25:27The shop and flats have undergone a complete makeover.
0:25:27 > 0:25:29# We've got the groove
0:25:29 > 0:25:31# Ooh ooh ooh ooh
0:25:31 > 0:25:37# Ain't no stopping us now We're on the move
0:25:37 > 0:25:41# On the move Yeah, yeah, yeah, yeah
0:25:41 > 0:25:45# Ain't no stopping us now We've got the groove
0:25:46 > 0:25:50# Yeah Yeah, yeah, yeah... #
0:25:50 > 0:25:54And the outbuilding is absolutely unrecognisable.
0:25:54 > 0:25:58# And if you're trying to make it, they only push you aside
0:25:58 > 0:26:02# They really don't have nowhere to go... #
0:26:08 > 0:26:10Well, this is the studio apartment.
0:26:10 > 0:26:15The shoe box, as we call it. I'm quite pleased with it. Nice job.
0:26:15 > 0:26:21Basically in here, we got the chimney breast out to give us more room.
0:26:21 > 0:26:23And more and more space.
0:26:23 > 0:26:27We had the stairs made, again to give us more space.
0:26:27 > 0:26:31And then basically upstairs we've got the en-suite,
0:26:31 > 0:26:35which initially we were going to put the full width of the building.
0:26:35 > 0:26:40But we've managed to make it a bit smaller, so we get a storage area.
0:26:40 > 0:26:45And then back down here... The kitchen's worked out well. Again, fairly compact.
0:26:45 > 0:26:51You've got room for a small fridge-freezer in there and a washing machine.
0:26:51 > 0:26:57It's quite modern. There's quite a good feel to it. It's turned out really well. I'm very proud of it.
0:27:00 > 0:27:05This transformation has continued throughout the property.
0:27:10 > 0:27:13One of the rooms we're really pleased with is this one.
0:27:13 > 0:27:19When we purchased the property, there was lots of wood cladding, very dark, built-in cupboards.
0:27:19 > 0:27:23We've taken all those out and injected a bit of colour.
0:27:23 > 0:27:29And then on this side of the room, originally, there was a studded wall about here.
0:27:29 > 0:27:33And the other side was a galley kitchen, very tight and very dark.
0:27:33 > 0:27:39So we've taken the wall down to open the room up and fitted a new kitchen.
0:27:39 > 0:27:46The partition wall between one of the bedrooms and a bathroom has been removed,
0:27:46 > 0:27:53giving the bedroom a window and natural light. The downside is that the shower is also in the bedroom.
0:27:53 > 0:27:57Sunshine and showers - a meteorologist would love it.
0:27:57 > 0:28:00The room next door is now a small toilet area.
0:28:00 > 0:28:04# Ain't no stopping us now
0:28:04 > 0:28:09# We're gonna tell you, we're gonna show you
0:28:09 > 0:28:12# Ain't no stopping us now... #
0:28:12 > 0:28:16And the second flat has been finished in a similar style.
0:28:19 > 0:28:24In the yard area, we built an outside toilet for the shop, there's no room in the shop,
0:28:24 > 0:28:28out of all the reclaimed bricks and everything.
0:28:28 > 0:28:30The yard worked out very well.
0:28:30 > 0:28:36We've split it up into sections for each property, so they've all got storage for the bins.
0:28:36 > 0:28:40# Just the two of us We can make it if we try
0:28:40 > 0:28:43# Just the two of us...
0:28:43 > 0:28:46# Just the two of us... #
0:28:47 > 0:28:52This was a major project which not everyone could have handled.
0:28:52 > 0:28:55It's looking good. The rooms are much lighter.
0:28:55 > 0:29:00But I imagine they went over their original budget of 7,000 to 10,000?
0:29:00 > 0:29:06We have gone a little over budget. It's coming in between 25,000 and 26,000 on the renovation.
0:29:06 > 0:29:13The budget went out the window, really, with the shoe box at the back. A lot more expenditure there.
0:29:13 > 0:29:16A lot more structural work than we expected.
0:29:16 > 0:29:21When we first took the roof off, a lot of the timbers had gone.
0:29:21 > 0:29:25The brickwork had all perished as the roof had been open for years.
0:29:25 > 0:29:31So the walls had to come down so far and be re-built. Basically you could just lift the bricks off the top.
0:29:31 > 0:29:38- There was nothing holding them together.- I think once you start, you do get a little bit carried away.
0:29:38 > 0:29:43But it's a good investment. That's how we look at it. We do things right.
0:29:43 > 0:29:49- Yeah.- And then hopefully you haven't got to go back and do anything else. - Keeps all the maintenance down.
0:29:49 > 0:29:57The couple have already rented out the shop to a theatrical costumier's for £120 per calendar month.
0:29:57 > 0:30:01To check that they're on track with the other three apartments,
0:30:01 > 0:30:05I asked two local estate agents to come and have a look.
0:30:09 > 0:30:15They've done a really good job. I can't believe how different it is.
0:30:15 > 0:30:17They've done quite a good job.
0:30:17 > 0:30:20They've not skimped on the renovation costs
0:30:20 > 0:30:22and they've used the space sensibly.
0:30:22 > 0:30:29They've all got separate entrances. I can't believe the outbuilding is the same building.
0:30:29 > 0:30:31He's done a really nice job on that.
0:30:31 > 0:30:37The only negative is that there's a shower in the bedroom and it doesn't seem very private.
0:30:37 > 0:30:41I'm not sure about having the shower in the bedroom. Bit unusual.
0:30:41 > 0:30:45But there weren't many other places that that could go.
0:30:45 > 0:30:49Other than problems with the shower, it all sounds very positive.
0:30:49 > 0:30:51So will they be showered with money?
0:30:51 > 0:30:57I would estimate the rental figures on these two flats at £300 per calendar month.
0:30:57 > 0:31:02And on the studio flat, with its extra parking, about 325?
0:31:02 > 0:31:07The two flats in the main building, we would rent it at around 325.
0:31:07 > 0:31:10And we'd rent the studio flat at 295 a month.
0:31:10 > 0:31:18Paul and Wendy bought the property for 73,000 and spent about £26,000 on the work.
0:31:18 > 0:31:21Will they be happy with the rental figures?
0:31:21 > 0:31:26First, the studio flat for £295 to £325 per month.
0:31:26 > 0:31:31- Oh, I'm a bit disappointed in that one.- We'll get more than that.
0:31:31 > 0:31:37What about the other two flats at between £300 and £325 per month?
0:31:37 > 0:31:43I thought the upstairs flat we might have got a little bit more for because of the higher spec.
0:31:43 > 0:31:47- But we'll see what kind of interest we get.- Yes.
0:31:47 > 0:31:53So the estate agents estimate a very impressive yield of 12% to 13%, including the rental from the shop.
0:31:53 > 0:31:59That makes it a fantastic investment even at those rates.
0:31:59 > 0:32:05They could make a pre-tax profit of £100,000 to £155,000 if they sold the properties
0:32:05 > 0:32:08either as a whole or individually.
0:32:08 > 0:32:11- We'll keep it as a rental property. - Yeah.
0:32:11 > 0:32:18Whatever they do here, they've done a great job. And remember, they did it in only nine weeks.
0:32:21 > 0:32:27Now, it was over two years ago that I first went to the quiet Wiltshire village of Calne,
0:32:27 > 0:32:31where I found an opportunity to step even further back in time.
0:32:31 > 0:32:35Up for auction is one of those properties
0:32:35 > 0:32:39that when you see it in the auction catalogue, you go, "Yes!"
0:32:39 > 0:32:43It's a two-bedroomed, end-terrace cottage. It's Grade 2 listed.
0:32:43 > 0:32:47And it gets better because it's got a guide price of just £95,000.
0:32:47 > 0:32:54Well, I know something that you don't. And that's the fact that this cottage has recently been bought
0:32:54 > 0:32:58and was immediately thrown back into the auction.
0:32:58 > 0:33:03That sets alarm bells ringing. What could possibly be wrong with it?
0:33:03 > 0:33:08Doing your research is vital when considering auction properties.
0:33:08 > 0:33:12And that means more than just reading the legal pack.
0:33:12 > 0:33:20Issues like the property's previous sales history can be a barometer to gauge exactly what you're getting.
0:33:20 > 0:33:26There is always a certain sense of anticipation when you open the door of a property like this.
0:33:26 > 0:33:32What are you going to find inside? Well, actually, quite a pleasant surprise. It's got character.
0:33:32 > 0:33:35Oh, but dear! Oh, but dear oh dear!
0:33:35 > 0:33:38It's also got rising damp.
0:33:38 > 0:33:41Now, properties like this... You can feel it on there.
0:33:41 > 0:33:48It's not going to be easy to sort that out unless you get involved in some major renovation work.
0:33:48 > 0:33:52It's probably rising from the floor, which... Yes, it's a solid floor.
0:33:52 > 0:33:59But you could decide, "I'm going to live with that for the character of the place, so who cares?"
0:33:59 > 0:34:01But some nice touches. Look at that.
0:34:01 > 0:34:05Original wood built into the walls.
0:34:05 > 0:34:11Not original gas fire built into the other side. So we'd want to get something more characterful there.
0:34:11 > 0:34:18Not a bad-sized room. I love the flagstone floor. I don't like the fact that it's got two doors,
0:34:18 > 0:34:25which in a small room isn't good at all. Stairs up to the bedrooms and then through to the kitchen.
0:34:27 > 0:34:29Oh, dear!
0:34:29 > 0:34:31Oh, dear.
0:34:31 > 0:34:35Oh, dear. Not a lot of head room in here then.
0:34:35 > 0:34:38What a surprise!
0:34:38 > 0:34:44This is the kitchen. It is absolutely tiny. Not only tiny, but you know, I mean, I'm six foot,
0:34:44 > 0:34:46and I can't even get in here.
0:34:46 > 0:34:48So a big problem.
0:34:48 > 0:34:54Practical things just like these units here. Look. There's a normal base unit. There's a top unit.
0:34:54 > 0:34:58Not much working space there, really, is there?
0:34:58 > 0:35:04So, in terms of doing something with this space, firstly, you'll need a bespoke kitchen built for you.
0:35:04 > 0:35:06Forget all these standard units.
0:35:06 > 0:35:10And secondly, if you're going to try and increase its head height,
0:35:10 > 0:35:16the only thing I can see is to dig down. And that will cause all sorts of problems.
0:35:16 > 0:35:22It's a listed building, you'll have to get involved in tanking it, talk to the neighbours to check it's OK.
0:35:22 > 0:35:25Not good. So not an easy problem to solve.
0:35:29 > 0:35:33These are the sort of problems that would scare off some developers.
0:35:33 > 0:35:39They prefer an easy and speedy profit. And you won't get that with this little cottage.
0:35:39 > 0:35:42It's going to be difficult to renovate.
0:35:45 > 0:35:52Well, the adventure continues as you go upstairs. But um... Oh, dear. That's not good.
0:35:53 > 0:35:56Clearly some kind of rot and also woodworm,
0:35:56 > 0:36:00although the woodworm have actually left.
0:36:00 > 0:36:06The thing is with a property like this, any problems like that are just not that easy to fix
0:36:06 > 0:36:10as this wood needs to be done and put back together by a specialist.
0:36:10 > 0:36:16So in a normal house, that would be bad. In this place, it's probably even worse. But what a surprise!
0:36:16 > 0:36:19Up through to the main bedroom.
0:36:19 > 0:36:25And compared to the kitchen, look at the ceiling height here. Again, all these old beams built into the wall.
0:36:25 > 0:36:29It's got a lovely, lovely feel to it. But practically, not so sure.
0:36:29 > 0:36:36Got a bathroom there. Second bedroom there. But the only way to access them is through those stairs.
0:36:36 > 0:36:41So, really, not ideal. And I don't know how you get round that.
0:36:41 > 0:36:47I've had a good look round and there's really nothing wrong with this property.
0:36:47 > 0:36:53The roof's good. Well, it's not falling down. There's some damp and it does have a few cracks.
0:36:53 > 0:36:57But then so would you after 400 years.
0:36:57 > 0:37:02Well, you either hate these kind of quirky properties or you love them.
0:37:02 > 0:37:08You're either willing to put up with the kind of work that's going to be involved in doing this place up
0:37:08 > 0:37:12or you're not. It's got problems. The tiny kitchen with that low roof.
0:37:12 > 0:37:18And just the amount of work you'll have to do, given that this is a Grade 2 listed building as well.
0:37:18 > 0:37:24But have I found anything that's particularly scary about this place? No. Do I love it? Yes.
0:37:24 > 0:37:29Who else fell in love with it when it went to auction? Let's find out.
0:37:29 > 0:37:31Right, OK. Next one, please, is lot number 11.
0:37:31 > 0:37:35Start me at £100,000? Someone save my breath. I'm selling lot 11.
0:37:35 > 0:37:41There we are. 100 put me in? 100 I've got. OK, round the corner I'll go. At £100,000. 102?
0:37:41 > 0:37:47At 102. 104. At £104,000, back right. At 104. 106 in the middle? Yes, 106.
0:37:47 > 0:37:508 now say? At £106,000.
0:37:50 > 0:37:54108. Now 10 if you will? At £108,000. Pretty little cottage.
0:37:54 > 0:37:58110 I've got. OK. 112. 114 to you, sir? 114.
0:37:58 > 0:38:04OK. At £114,000. The bid is there. Against you at the back. 115. 116 to you, sir. 116.
0:38:04 > 0:38:08116 on the wall for the first time.
0:38:08 > 0:38:13Anybody else for 117? 116 then for the second time. Are you all done?
0:38:13 > 0:38:15Third and last time. You're finished.
0:38:15 > 0:38:18It's yours, sir. And your number is 98.
0:38:18 > 0:38:25'The new owner is professional carpenter, Glyn. He bought the little cottage because of its age
0:38:25 > 0:38:29'and also its name, The Pippin. But this is no pipsqueak of a project.
0:38:29 > 0:38:33'I couldn't wait to find out what Glyn had in mind.'
0:38:33 > 0:38:36I just... I've got a feel for old buildings.
0:38:36 > 0:38:42During my working life, it's the old buildings that I've enjoyed working on.
0:38:42 > 0:38:49- As an apprentice, I worked at Ashton Court in Bristol, a big stately home. - Yes.- That's a fascinating job.
0:38:49 > 0:38:53'The interior is where a lot of thought is needed.
0:38:53 > 0:38:59'For upstairs, Glyn wants to source some ancient oak to replace the bathroom's stud partition
0:38:59 > 0:39:05'that was put up in the 1970s and build a new wall using the same methods as the rest of the cottage.
0:39:05 > 0:39:09'He'll separate the two bedrooms without blocking off the stairway.
0:39:09 > 0:39:14'He thinks he could split the stairs, so that each bedroom can be accessed separately.
0:39:14 > 0:39:18'It all sounds very clever. So what about downstairs?'
0:39:18 > 0:39:21With the kitchen, obviously,
0:39:21 > 0:39:27I shall hand-build that. You know, get the units in proportion to the size of the room.
0:39:27 > 0:39:30Try and make it all workable.
0:39:30 > 0:39:34# I will try to fix you... #
0:39:35 > 0:39:39'Glyn knows exactly what's involved with repairing this little cottage.
0:39:39 > 0:39:44'But he has no idea of how much it will cost.
0:39:44 > 0:39:48'But by doing the work himself, he hopes to keep the expense down.
0:39:48 > 0:39:54'He has over 30 years' experience as a skilled carpenter, so there's not much he hasn't seen before.
0:39:54 > 0:39:59'It's an enormous project, but one that Glyn is in no rush to complete.'
0:40:00 > 0:40:05So what's the longer-term plan for you and this place then?
0:40:05 > 0:40:11- I intend to live here. - For the foreseeable future? - For the foreseeable future, yeah.
0:40:11 > 0:40:17As far as the work goes, it'll be like doing a custom car, a classic car.
0:40:17 > 0:40:23It'll be putting the time in for no returns. Art for art's sake, really.
0:40:23 > 0:40:28- That's a lovely analogy. Yeah, it's like a classic car. - A labour of love definitely.
0:40:28 > 0:40:34'Well, that was the spring of 2007 and when we returned three months later,
0:40:34 > 0:40:37'Glyn's labour of love had only just started.
0:40:37 > 0:40:42'But now, two years on, due to his patience and skilful endeavour, the job is finished.
0:40:42 > 0:40:49'See how Glyn returned this 400-year-old cottage to its former glory later in the show.'
0:40:49 > 0:40:52# I will try to fix you... #
0:40:58 > 0:41:02Time to return to our properties and uncover the truth.
0:41:02 > 0:41:06- Are they a triumph of engineering or a house of cards?- Let's find out.
0:41:07 > 0:41:10Actor, PR man and dog lover Tom
0:41:10 > 0:41:15bought this three-bedroom, mid-terraced house in London for 211,000.
0:41:15 > 0:41:19It needed a lot of work to bring it back to its former glory.
0:41:19 > 0:41:25Tom wanted to do much of it himself but his toolkit wasn't up to much.
0:41:25 > 0:41:32I have sanding paper for a sander I borrowed. But I gave the sander back, so I've just got the paper.
0:41:34 > 0:41:38Well, despite that, it looks like Tom's been getting to grips with it.
0:41:38 > 0:41:42# Work, work You know you gotta work, work
0:41:43 > 0:41:45# I got the goods and I want you
0:41:45 > 0:41:48# Put your boots on, baby Get to
0:41:48 > 0:41:52# Work, work You know you gotta work, work...
0:41:53 > 0:41:56# I tend to get what I want So are you starting to see... #
0:41:56 > 0:42:01It must have been tough turning this bedsit into a home
0:42:01 > 0:42:05with just a screwdriver and a piece of sandpaper. How did he do it?
0:42:05 > 0:42:10When my dad comes, he brings his toolkit and I nick one more thing.
0:42:10 > 0:42:16So when he takes his toolkit home, I've kept one more item. I've probably got about six things now.
0:42:16 > 0:42:23But it's amazing what you can do without any tools. So the cupboard in the dining room that I removed,
0:42:23 > 0:42:30I took it down with a claw hammer. So I banged the doors off and knocked it out. You don't need tools, really.
0:42:30 > 0:42:35Probably not the best way of doing things, but the work is coming along.
0:42:35 > 0:42:41I have plastered every room, the landing, top of the stairs, front bedroom, middle bedroom.
0:42:41 > 0:42:45I'm plastering the living room and the dining room.
0:42:45 > 0:42:49I've done the floorboards, I removed the pins, the carpet, lino, wood.
0:42:49 > 0:42:55Wait a minute. Slow down. Carpet, lino, wood, I understand. But what are those pins you mentioned?
0:42:57 > 0:43:01Staple. Um... The bane of my life.
0:43:01 > 0:43:03And goes in with the rest.
0:43:03 > 0:43:11I have pulled out now around 5,000 or 6,000 of these pins because there's 55 per plank.
0:43:11 > 0:43:18There's about 25 planks per room. I've done the hallway, landing, bedroom, living room, dining room.
0:43:18 > 0:43:24And I'm starting on the back bedroom. So by the time I've finished, it'll be around 7,000 of these.
0:43:24 > 0:43:29The pins held the original carpet down. So has he done anything else?
0:43:29 > 0:43:35I've knocked the bathroom wall through in the toilet through to the main bathroom.
0:43:35 > 0:43:42I plastered all the ceilings as well and totally redid the back garden. And I'll be doing the front as well.
0:43:42 > 0:43:48For a man with no tools, Tom's certainly been busy. And those pins aren't the only things he's tackled.
0:43:48 > 0:43:52Woodchip is the worst creation on the planet.
0:43:52 > 0:43:58And anyone that looks at a house that has woodchip, avoid it like the plague.
0:43:58 > 0:44:04It took me just over a fortnight to strip the woodchip out of the main bedroom at the front.
0:44:04 > 0:44:08And because it's an old house and the walls are a little bit crumbly,
0:44:08 > 0:44:15as you took the woodchip off, it took half the wall with it, so I had a constant battle with woodchip.
0:44:15 > 0:44:20It took two weeks to do that bedroom. Hallway and landing, three, maybe four weeks.
0:44:20 > 0:44:24And I'm employing somebody to do the living room and the dining room.
0:44:24 > 0:44:29It's been worth all that to return this house to the bare basics.
0:44:29 > 0:44:34It gives Tom a chance to install some original features if he can track them down.
0:44:34 > 0:44:40In terms of putting features back and things, internet, reclamation yards.
0:44:40 > 0:44:46Which I thought would be cheap, but they're expensive. So it's a case of finding the thing that you like,
0:44:46 > 0:44:50saving up for it and getting it. So the fireplace - saved up for that.
0:44:50 > 0:44:57Researched on the internet, went and found it. It was kind of a reclamation fireplace centre.
0:44:57 > 0:45:02It's worth shopping around for those period features as prices vary wildly.
0:45:02 > 0:45:08My original budget was probably 15 to 20 in my head. I think it's going to work out a lot more in the end.
0:45:08 > 0:45:14But then I've probably spent about 7,000 so far.
0:45:14 > 0:45:20So I've kind of done the basics for seven. But the kitchen will obviously take sort of five or six.
0:45:20 > 0:45:26The bathroom's going to take two. I reckon it's going to be at least 30 grand.
0:45:26 > 0:45:29The house originally cost Tom 211,000.
0:45:29 > 0:45:36And he's spent 7,000 so far. He's saving money by doing most of the work himself and borrowing tools.
0:45:36 > 0:45:39To see if he's going in the right direction,
0:45:39 > 0:45:43I asked two local estate agents for their opinions.
0:45:43 > 0:45:48Well, it looks like the vendor's kept the original features.
0:45:48 > 0:45:51He's made the place much more open.
0:45:51 > 0:45:54He seems to have done a nice job.
0:45:54 > 0:45:58I think the changes that have been made so far are really positive.
0:45:58 > 0:46:02Making the bathroom bigger will make the property much more modern
0:46:02 > 0:46:05and appeal to a wider spectrum of buyers.
0:46:06 > 0:46:10If Tom carries on the way he's going with the renovation,
0:46:10 > 0:46:15will an attractive period building bring in an attractive rent?
0:46:15 > 0:46:20I think this property should rent for around £1,200 per calendar month.
0:46:20 > 0:46:24The rental for this property would be in the region of 1,200 per month.
0:46:24 > 0:46:26That's pretty good.
0:46:26 > 0:46:28That's pretty good.
0:46:28 > 0:46:34I'm glad he's pleased. He's doing a grand job. Hopefully that will be reflected in the market value.
0:46:34 > 0:46:40I think he's going along the right lines in terms of ways of decorating and improving the property.
0:46:40 > 0:46:44I think we're working around about 325,000.
0:46:44 > 0:46:50If this property was renovated to a high specification, they could achieve somewhere in the early 300s.
0:46:50 > 0:46:53I'd recommend an asking price of 310,000.
0:46:53 > 0:46:57310 and 325? That's brilliant.
0:46:57 > 0:47:00I'm well chuffed with that.
0:47:00 > 0:47:02That's awesome!
0:47:03 > 0:47:07Awesome indeed. If Tom spends all his £15,000 budget,
0:47:07 > 0:47:11the overall outlay will be around £226,000.
0:47:11 > 0:47:18That's potential pre-tax profit of 76,000 to 91,000, minus usual expenses.
0:47:18 > 0:47:21Not bad for a property auction novice.
0:47:21 > 0:47:27So, what advice can Tom pass on to those who hope to follow his lead?
0:47:27 > 0:47:32Get a right set of pliers cos it makes all the difference to get nails out the floor.
0:47:32 > 0:47:39- If you use normal pliers, they don't work. But if you use the curved end ones, they work.- What a gem!
0:47:46 > 0:47:53It was back in the spring of 2007 when I first visited a 400-year-old cottage called The Pippin
0:47:53 > 0:47:55in the village of Calne in Wiltshire.
0:47:55 > 0:48:00Although some might say it was looking pretty good for its age,
0:48:00 > 0:48:06time had taken its toll and it was in need of a lot of tender loving care from a skilled craftsman.
0:48:06 > 0:48:13Step forward professional carpenter Glyn. He paid £116,000 to turn it into his new home
0:48:13 > 0:48:18and was under no illusions about what he'd taken on.
0:48:19 > 0:48:24- I'll put in a lot of hours. - A labour of love. - A labour of love definitely.
0:48:24 > 0:48:29When we first returned three months later, Glyn had made a start
0:48:29 > 0:48:34and was discovering all sorts of things about the cottage's history.
0:48:35 > 0:48:39While I was doing the fireplace, I was pulling out...
0:48:39 > 0:48:44These were very sooty. These pieces haven't really been cleaned up yet.
0:48:44 > 0:48:49But I've got a letter, a letter to Mother from the son.
0:48:49 > 0:48:55Um... And they're all dated 1878, 1879.
0:48:55 > 0:48:58I've got a North Somerset and Wilts Guardian.
0:48:58 > 0:49:02A hymn sheet and various other pieces of paper.
0:49:02 > 0:49:08Clearly the cottage had a fascinating past. But what about its future?
0:49:08 > 0:49:11Well, two years on and we're back.
0:49:12 > 0:49:15And just look at it now.
0:49:24 > 0:49:29Glyn has resurrected the old inglenook fireplace and uncovered
0:49:29 > 0:49:33and, where necessary, replaced the oak beams.
0:49:35 > 0:49:40The walls have been traditionally plastered with lime and horsehair
0:49:40 > 0:49:46and painted using lime or clay paints. So this doesn't just look authentic, it is authentic.
0:49:53 > 0:49:59And remember the tiny kitchen? Glyn hasn't only made the most of the space,
0:49:59 > 0:50:03he's utilised all the bits and pieces he could find.
0:50:03 > 0:50:08The kitchen, I replaced the broken flags on the floor.
0:50:08 > 0:50:11And I replaced a couple of joists.
0:50:11 > 0:50:15They're all oak joists now to the original sizes
0:50:15 > 0:50:18because a couple of them were broken and collapsing.
0:50:18 > 0:50:22And it's just a question of design, really.
0:50:22 > 0:50:26I'm making the best use of the space.
0:50:26 > 0:50:31I've got a drop-leaf, gate-leg table there or half of it.
0:50:31 > 0:50:35The other half didn't get wasted.
0:50:35 > 0:50:43I built the bathroom cabinet, the towel rail, the toilet roll holder and the light pull with that.
0:50:44 > 0:50:47# Let's go round again
0:50:47 > 0:50:52# Maybe we'll turn back the hands of time
0:50:52 > 0:50:56# Let's go round again One more time... #
0:50:56 > 0:51:02Recycling, re-using or re-working is the name of the game for Glyn.
0:51:02 > 0:51:08The kitchen cupboards and worktops were old units he found locally and adapted to fit the space.
0:51:08 > 0:51:12This approach continues throughout the cottage.
0:51:18 > 0:51:22Well, the upstairs, um... I mean, this bedroom in particular,
0:51:22 > 0:51:29I haven't done an awful lot, really, well, apart from re-plastering and painting.
0:51:29 > 0:51:33This is the original banister, original stairs.
0:51:33 > 0:51:38I stripped back and cleaned out the timber work.
0:51:38 > 0:51:44This electric cupboard there was made from an old chest of drawers that was left here.
0:51:44 > 0:51:48I hand-made the window shutters, again out of reclaimed material.
0:51:48 > 0:51:53It's easier for me to make shutters than it is curtains.
0:51:53 > 0:51:58This clever combination of adapting old wooden furniture
0:51:58 > 0:52:01and restoring what was already here works brilliantly.
0:52:01 > 0:52:07It keeps true to how the old cottage would have evolved naturally over the years.
0:52:11 > 0:52:17Do you remember that drop-leaf table in the kitchen that Glyn cut in half?
0:52:17 > 0:52:21Well, this bathroom - originally, it was part of the bedroom.
0:52:21 > 0:52:24And this was the bedroom fireplace
0:52:24 > 0:52:28that had been knocked about and blocked up.
0:52:28 > 0:52:33I've designed and made a bath panel with access to the taps
0:52:33 > 0:52:37and access for storage at the other end.
0:52:37 > 0:52:42Um... Again this is recycled. This is the other half of the kitchen table.
0:52:42 > 0:52:47The towel rail, light pull and toilet roll holder are part of that table.
0:52:47 > 0:52:51So Glyn has brought his carpentry skills to the fore.
0:52:51 > 0:52:56Everywhere you look, there's something he's created especially for the cottage.
0:52:56 > 0:53:03He's made it his home, but at the same time has been sympathetic to this Grade 2 listed property.
0:53:03 > 0:53:09It now looks much more as you'd expect for a 400-year-old cottage called The Pippin.
0:53:13 > 0:53:18So what's it been like doing all that work?
0:53:18 > 0:53:22Well, we agreed at the outset that it was a labour of love.
0:53:22 > 0:53:26And it's been that, you know. An awful lot of labour.
0:53:26 > 0:53:28But I've enjoyed it. It's been good.
0:53:28 > 0:53:33As it is Grade 2 listed, there were certain things Glyn couldn't change.
0:53:33 > 0:53:36Bizarrely, one of them was the 1970s' windows.
0:53:36 > 0:53:39But for the interior, that was no great hardship for Glyn.
0:53:39 > 0:53:46He was determined to restore it in a traditional manner, but the colour of the house was slightly different.
0:53:46 > 0:53:51The outside of the house, it's been a problem,
0:53:51 > 0:53:57because...well, the paint hadn't gone quite the same colour as I wanted it to.
0:53:57 > 0:54:01The colour I had in mind was more conservative.
0:54:01 > 0:54:07But now I see the orange compared to what I wanted and I've learned to live with that.
0:54:08 > 0:54:13As with the uncertainty over the colour of the exterior,
0:54:13 > 0:54:18he's also unsure what his final budget will turn out to be.
0:54:18 > 0:54:22He thinks he's spent around £10,000 but isn't sure.
0:54:22 > 0:54:26So does a traditional cottage cut it in the modern property market?
0:54:26 > 0:54:29What do two local estate agents think?
0:54:34 > 0:54:38Glyn bought The Pippin for £116,000 at auction.
0:54:38 > 0:54:45With a budget of around £10,000 plus costs, he's probably spent around 130,000.
0:54:45 > 0:54:49So has this labour of love blossomed into a good investment?
0:54:49 > 0:54:53I think this property has been restored very well.
0:54:53 > 0:54:57He's maintained all the inherent charm and expanded on that, really.
0:54:57 > 0:55:01The cottage has been done up with a lot of care
0:55:01 > 0:55:03and it shows right the way through.
0:55:03 > 0:55:09He's used the plaster, which is a lime-based plaster, which gives a nice feel to it.
0:55:09 > 0:55:14It's very cosy. And yes, I think it will be a pleasure to be in here.
0:55:15 > 0:55:22Having bought the cottage for 116,000 and with an estimated outlay of no more than 10,000,
0:55:22 > 0:55:26has Glyn spent around £130,000 wisely?
0:55:26 > 0:55:32I would market this property in the region of 145 to just under 150.
0:55:32 > 0:55:39We would be asking for this property a figure of 145,000 with a view to achieve in excess of 140,000.
0:55:39 > 0:55:45That could see a profit of £10,000 to £15,000 for Glyn. What does he think about that?
0:55:45 > 0:55:47That's about what I was expecting.
0:55:48 > 0:55:53Well, a small profit but a fantastic home.
0:55:53 > 0:55:59Glyn has put in an awful lot of work to restore the cottage. Has it turned out the way he hoped?
0:55:59 > 0:56:01Yes, it's been good fun.
0:56:01 > 0:56:07It's the second oldest dwelling in Calne and the most famous of modern times now as well
0:56:07 > 0:56:10thanks to your programme, so...
0:56:10 > 0:56:13Oh, the power of television!
0:56:13 > 0:56:16# Fame, fame, fame, fame, fame
0:56:16 > 0:56:18# Fame... #
0:56:18 > 0:56:24But famous or not, there's no disguising the fact that Glyn has done a fantastic job here.
0:56:24 > 0:56:28The cottage should be set for another 400 years at least.
0:56:28 > 0:56:35Who knows? Perhaps we'll be back in another few centuries to see how it fares.
0:56:37 > 0:56:43- That's it for today's show.- Join us next time for more thrills and spills on Homes Under The Hammer.
0:56:43 > 0:56:45- See you then.- Goodbye.- Goodbye.