0:00:03 > 0:00:06Despite the credit crunch people, still want a slice of the property action.
0:00:06 > 0:00:11- If you're up for taking the plunge, auctions are a great place to start. - It can be fraught or fantastic.
0:00:11 > 0:00:15Whatever happens, it's fun when you buy your property under the hammer.
0:00:40 > 0:00:44Now some properties are very popular at auction. Others go unsold.
0:00:44 > 0:00:47The auction room can be a very difficult place to conquer.
0:00:47 > 0:00:50Let's take a look at what inspired the buyers on today's show.
0:00:50 > 0:00:56This Birmingham semi is pretty derelict, but don't be put off.
0:00:56 > 0:01:00A good house. Well, not yet, but it could be.
0:01:01 > 0:01:07Four years ago, this house in Kent gave me the heeby jeebies, but see how fabulous it is now.
0:01:07 > 0:01:11it's all a bit eerie though. I've got to investigate further.
0:01:11 > 0:01:16Obviously some thought has gone into the layout of the rooms in this Devon house.
0:01:16 > 0:01:21It's good, but it's not quite fulfilling its true potential to my mind.
0:01:23 > 0:01:26All of these properties went to auction and we'll find out
0:01:26 > 0:01:30who bought them and what they paid for them when they went under the hammer.
0:01:30 > 0:01:31- GAVEL BANGS - Congratulations.
0:01:34 > 0:01:39No, I'm not in Lapland, although it certainly feels like it today.
0:01:39 > 0:01:44I'm actually in Stechford, a suburb of Birmingham about five miles outside the city centre
0:01:44 > 0:01:47and I'm here to see a three-bedroomed, semi-detached.
0:01:47 > 0:01:52The guide price of £85,000 to £95,000, and you know what
0:01:52 > 0:01:54it doesn't look that brilliant from the outside.
0:01:54 > 0:01:58No, it's all boarded up and it looks like there is some re-pointing needed on the brick work.
0:01:58 > 0:02:04Something tells me that it's only going to get worse inside.
0:02:04 > 0:02:08The boarded up door doesn't look too promising.
0:02:08 > 0:02:10This building is in a really sorry state.
0:02:10 > 0:02:14I'm beginning to think we have a domicile in distress.
0:02:16 > 0:02:19Oh, yes, how wise I am. It's dark.
0:02:19 > 0:02:24It's dingy. It's cold. Yes, it's a classic, but there you go.
0:02:24 > 0:02:26A good layout nevertheless - I like these properties.
0:02:26 > 0:02:30You know, you've got an entrance hall here, up to the bedrooms there.
0:02:30 > 0:02:32Obviously, it's in a right old state.
0:02:32 > 0:02:36The plaster off the walls, but don't worry, you'll probably to have to strip the plaster anyway,
0:02:36 > 0:02:39so it's saved you the job. A bit more serious in here though.
0:02:39 > 0:02:42This is the front sitting room and as you can see the bay window here.
0:02:42 > 0:02:45A lot of water has obviously come in through the roof.
0:02:45 > 0:02:47It has gone down into the floorboards.
0:02:47 > 0:02:51It has probably rotted the joists and as you can see the windows are in a right old state
0:02:51 > 0:02:55and it's obviously so dangerous, they don't want people to go over there and quite rightly so.
0:02:55 > 0:02:57So should you be concerned about that?
0:02:57 > 0:03:02Well, a bit of work to be done, but then again it wouldn't be at the price it was at the auction
0:03:02 > 0:03:05if it wasn't for that and if you can see through that, I don't reckon
0:03:05 > 0:03:08that's too big a job and at the end of the day,
0:03:08 > 0:03:12it's a good house. Well, not yet,
0:03:12 > 0:03:13but it could be.
0:03:15 > 0:03:20It goes to show that sometimes it really is worth getting a survey done before the auction.
0:03:20 > 0:03:25At least then you won't get a nasty shock about any unforeseen problems after you've bought the property.
0:03:25 > 0:03:30Talking of problems this kitchen is extremely run-down.
0:03:30 > 0:03:34Apart from being small, it's all in very poor condition.
0:03:34 > 0:03:40It might be worth knocking into the sitting room next door to create a large open-planned diner.
0:03:40 > 0:03:43And things don't improve on the first floor of this house
0:03:43 > 0:03:47that went to auction at a guide price of £85,000.
0:03:47 > 0:03:51So upstairs, two good-sized double bedrooms and a single room at the front there.
0:03:51 > 0:03:58Sadly, the original fireplace has been ripped out, but in the bathroom some original features do remain.
0:03:58 > 0:04:00That bath - although it looks a right state - I reckon you
0:04:00 > 0:04:03could have that restored and it's a lovely roll top bath. Fantastic.
0:04:03 > 0:04:05Also the loo.
0:04:05 > 0:04:10Even that old sink, get that renovated and it adds a bit of charm to the place.
0:04:10 > 0:04:14But it's not just the charm you lose upstairs with these broken windows,
0:04:14 > 0:04:18the gaps along the outside are losing a lot of heat.
0:04:18 > 0:04:23It's freezing in here, it might be warmer outside today.
0:04:23 > 0:04:26Well, at the front there is a fairly decent-sized garden,
0:04:26 > 0:04:30easily big enough for putting some kind of a driveway giving you off street parking which would be good.
0:04:30 > 0:04:36At the back apparently there is a good-sized rear garden, but I can't get to see it.
0:04:36 > 0:04:38On a day like today not only would you need
0:04:38 > 0:04:42an industrial strimmer to get through there, you'd need a snowplough.
0:04:44 > 0:04:48Thanks to our tall cameraman filming out of the unboarded bathroom
0:04:48 > 0:04:52window, you can get a good glimpse of the size of the back garden.
0:04:52 > 0:04:54it's a wilderness, but very promising.
0:04:54 > 0:04:59I invited a local expert from the auction house who sold it to have a look around.
0:04:59 > 0:05:05I was keen to find out more about the history of the place that went to auction guided at £85,000.
0:05:07 > 0:05:14This particular property has been empty for a good many years and has been offered for sale
0:05:14 > 0:05:21by auction by Birmingham City Council who compulsory purchased it under their empty homes
0:05:21 > 0:05:23policy they now have.
0:05:23 > 0:05:28When people won't do anything or have disappeared, they will buy the property
0:05:28 > 0:05:36and then make sure that it's resold on to somebody who will modernise it and turn it back into a useful home.
0:05:37 > 0:05:40A requirement of the sale is that it must be refurbished and brought
0:05:40 > 0:05:44back into residential use within one year.
0:05:44 > 0:05:50A considerable amount of money is needed to do enough work to make it habitable for someone to move in.
0:05:53 > 0:05:57But once that's done, how much rent could it earn?
0:05:57 > 0:06:01The property, if it was done to a reasonable standard,
0:06:01 > 0:06:07I would imagine that a reasonable rental would be something in the region of £500 per calendar month.
0:06:07 > 0:06:11After the refurbishment is done how much could it then sell for?
0:06:11 > 0:06:15Resale value, if it's done out to a reasonable standard,
0:06:15 > 0:06:21I would imagine that £135,000 to £140,000 would be achievable.
0:06:26 > 0:06:33Well, I think the weather will have improved a long time before this place is finally sorted out.
0:06:33 > 0:06:36It does need a lot of work and internal re-jigging as well,
0:06:36 > 0:06:40but it's in a good location and it is a decent property.
0:06:40 > 0:06:44So let's see who fancied the challenge when it went under the hammer.
0:06:44 > 0:06:47At this auction, the City Council vendors insisted
0:06:47 > 0:06:54any purchaser had a bankers draft or building society cheque ready in order to pay a 10% deposit.
0:06:54 > 0:06:59Lot 2, a three-bedroom two reception room, semi-detached property,
0:06:59 > 0:07:02being sold for Birmingham Council, you have got to have a bankers draft.
0:07:02 > 0:07:06At £80,000 to get it started. 75 if we must. 70 sir?
0:07:06 > 0:07:1060? OK, £60,000 I'm bid.
0:07:10 > 0:07:13At £60,000 I have, is it 70? 65. Do you have a banker's draft, sir?
0:07:13 > 0:07:15At 65 and thank you.
0:07:15 > 0:07:19Is it 70 now? At 70 I'm bid. At 70 I'm bid, sir, is it 75?
0:07:19 > 0:07:22At 75 I have now, is it 80.
0:07:22 > 0:07:23New bid at 80.
0:07:23 > 0:07:26Do you have a draft, sir? You do.
0:07:26 > 0:07:28At 80, is it 85, sir? 85. Is it 90?
0:07:28 > 0:07:3287 and a half, is it 90 now?
0:07:32 > 0:07:3688. 88. Is it 89? 89. Is it 90?
0:07:36 > 0:07:4090. 91? is it 91, sir? At 91. 92? No.
0:07:40 > 0:07:47at £91,000. New bid at 92, do you have a draft, sir? At 92. Is it 93?
0:07:47 > 0:07:4993, you have a draft, sir?
0:07:49 > 0:07:51At 93. Is it 94?
0:07:51 > 0:07:5594. Is it 5? It's 95. 96, sir?
0:07:55 > 0:07:5896. 97?
0:07:58 > 0:08:01At 96,000 then.
0:08:01 > 0:08:04Once, twice, are we all done? For the third and last time, sir,
0:08:04 > 0:08:07this is yours, subject to seeing you draft, give us a wave, sir.
0:08:07 > 0:08:09If we can see your number.
0:08:09 > 0:08:12Sir, congratulations and the very best of luck with that property.
0:08:14 > 0:08:16- HE LAUGHS - Maybe the auctioneer knows something we don't!
0:08:16 > 0:08:23But for £96,000 the successful bidders with the necessary bankers draft are friends Andy and Fred.
0:08:23 > 0:08:25Andy trained as a surveyor, but spent has spent 20 years working
0:08:25 > 0:08:27as an account manager for various companies.
0:08:27 > 0:08:31Fred recently sold his plumbing business and has since
0:08:31 > 0:08:34purchased three properties that he currently rents out.
0:08:34 > 0:08:39Now the friends have decided to team up as developers and this is their first venture.
0:08:39 > 0:08:43I met up with them back at the house to find out their plans.
0:08:43 > 0:08:48Andy, Fred, congratulations. Tell me why you wanted to buy the house?
0:08:48 > 0:08:52It's a project I've been thinking about for some time.
0:08:52 > 0:08:57I spoke to Fred a few months ago about looking at something
0:08:57 > 0:09:00and we've been looking at the auctions over the past few months
0:09:00 > 0:09:03and for some reason this was the one we went for.
0:09:03 > 0:09:06Are you novices to all this then?
0:09:06 > 0:09:08It's the first time for myself.
0:09:08 > 0:09:11First project, but Fred has been involved in a few.
0:09:11 > 0:09:16I've done a little bit, yeah, in the past, I've got a couple of houses that I rent out.
0:09:16 > 0:09:21I've sold the business and now we've decided to carry on and try and make
0:09:21 > 0:09:25a little bit of profit on hopefully an expanding market.
0:09:26 > 0:09:31So Fred has experience of refurbishment and his business was in plumbing,
0:09:31 > 0:09:38so he has useful knowledge, but Andy's background is in account management, why the career change?
0:09:38 > 0:09:41Unfortunately, before Christmas I was made redundant.
0:09:41 > 0:09:48Which in a way has been a bit of a god send, because I can dedicate now all of my time, you know, I can get
0:09:48 > 0:09:52my hands dirty, roll my sleeves up and get in here, because as you can
0:09:52 > 0:09:55see there is a little bit to do and obviously we're going to get
0:09:55 > 0:10:01the professionals in to do the major work, but you know, I'm going to turn my hand to what I can.
0:10:01 > 0:10:06- You say you haven't done anything quite like this before. - I've only ever purchased abroad,
0:10:06 > 0:10:10which is going through at the moment, completing in Morocco, I bought off plan.
0:10:10 > 0:10:12Has it been built?
0:10:12 > 0:10:15Yes, it has and we've before over to make sure it has been as well!
0:10:15 > 0:10:20- But it's a lovely apartment on the beach, on a marina.- Oh, great.
0:10:20 > 0:10:23Over the last two-and-a-half years it has gone up in value and I'm going to
0:10:23 > 0:10:28sell on straightaway and bring the money back and hopefully get involved in some more projects here.
0:10:28 > 0:10:32Buying off plan is a risky business.
0:10:32 > 0:10:36You may buy at a reduced price, but before anything has been built.
0:10:36 > 0:10:41Thankfully in this case it sounds like Andy is OK, but what about this place?
0:10:43 > 0:10:45What's the idea for it then?
0:10:45 > 0:10:47Are you going to keep it? Are you going to rent it out or what?
0:10:47 > 0:10:54I think the initial plan is to completely gut it and renovate and just hopefully just sell it on.
0:10:54 > 0:10:56Tell me what you're going to do to sort this place out.
0:10:56 > 0:10:58Kitchen, bathroom?
0:10:58 > 0:11:03Every room, the bathroom is as you've seen basically needs totally gutting.
0:11:03 > 0:11:08The kitchen needs to be completely refurbed. New floor.
0:11:08 > 0:11:10New flooring obviously downstairs.
0:11:10 > 0:11:14The bay really needs to be reconstructed which is obvious,
0:11:14 > 0:11:16but priority is to get the garden cleared first
0:11:16 > 0:11:20and then get the skip in. Obviously clear the site. All the rubbish in.
0:11:20 > 0:11:22What do you know about the garden?
0:11:22 > 0:11:25Well, as you can see from the property here, you can't really see
0:11:25 > 0:11:29anything out of the back, but I thought how can I get round that?
0:11:29 > 0:11:36So using the computer and satellite navigation, you can zoom in, down on
0:11:36 > 0:11:38the property and you can actually see what you've got out the back.
0:11:38 > 0:11:42So the only way you can see the end of your garden is by going online?
0:11:42 > 0:11:47- Yes.- And looking at it from the satellite.- Yes, from the sky.
0:11:47 > 0:11:54Interesting concept, but it was a surprise which I think is a welcome surprise, really.
0:11:54 > 0:11:58A good tip there for anyone trying to evaluate a potential plot size.
0:11:58 > 0:12:01A lot easier than getting the plans to check them out,
0:12:01 > 0:12:07but there are skills you can only pick up, the good old-fashioned way.
0:12:07 > 0:12:11So Andy, have you done anything to prepare yourself for this adventure?
0:12:11 > 0:12:15Well, I've just enrolled myself on a tiling course.
0:12:15 > 0:12:17Oh.
0:12:17 > 0:12:20- Which is a six-week course, every Monday.- Brilliant.
0:12:20 > 0:12:22Just to try and get myself a skill.
0:12:22 > 0:12:27- Really useful. Is that floor tiling and wall tiling?- Yes.- Oh, great.
0:12:27 > 0:12:34Going in completely as a novice, and hopefully come out with a skill which will come in useful.
0:12:34 > 0:12:38- Any idea how much this is all going to cost?- Our budget is £25,000,
0:12:38 > 0:12:42maybe at a push we may have to go to 30, but we're
0:12:42 > 0:12:44hopeful that the 25 will be our limit.
0:12:44 > 0:12:46How is it going to work financially?
0:12:46 > 0:12:49- Are you both in this 50/50? - Yes, it's a 50/50 project.
0:12:49 > 0:12:55Fred has been very kind to put up the finances so far, because I'm
0:12:55 > 0:13:01- sort of reliant on my money coming back in from the Morocco project.- So the time scale on this is how long?
0:13:01 > 0:13:05I think realistically we've got to be talking about four months, but we
0:13:05 > 0:13:08want to stick to that quite religiously.
0:13:08 > 0:13:12- Well, good luck to you both and we look forward to seeing how you get on.- Thanks very much.
0:13:12 > 0:13:14An interesting challenge here.
0:13:14 > 0:13:19This place looks more like the scene of a crime and that normally means keep well away.
0:13:21 > 0:13:25Well, Andy and Fred have certainly got the expertise to sort this place
0:13:25 > 0:13:28out, especially once Andy has completed his tiling course.
0:13:28 > 0:13:34Still, four months is a bit of a tight time scale, but reasonably healthy budget.
0:13:34 > 0:13:37You can find out how they get on later in the show.
0:13:40 > 0:13:44Now, we're going to revisit a property we first went to in 2006.
0:13:44 > 0:13:48Meopham, once claimed to be the largest village in Kent.
0:13:48 > 0:13:54Although it does feel rural, it suffers from heavy commuter traffic.
0:13:54 > 0:13:58Well, this is the Wrotham Road otherwise known as the A227.
0:13:58 > 0:14:02Now, as you can see, it's quite a busy road
0:14:02 > 0:14:06and most of the village was actually built alongside this route here.
0:14:06 > 0:14:12Up for auction we've this rather sad and lonely looking Victorian house.
0:14:12 > 0:14:17It had a guide price of £220,000 to £230,000.
0:14:17 > 0:14:21It looks dated from the outside, but let's see inside.
0:14:23 > 0:14:27Now this is an incredible hallway, lovely and wide.
0:14:27 > 0:14:32Lots of light in here. But I've got to say this house does feel soulless.
0:14:32 > 0:14:36This is the reception room and look at this wallpaper.
0:14:36 > 0:14:41That is so dated. The whole room just feels incredibly old-fashioned.
0:14:41 > 0:14:46It smells a little bit damp as well, and there are two rather suspicious holes in the corner.
0:14:46 > 0:14:48I would get those looked at.
0:14:48 > 0:14:52Now I've got a feeling this may be the kitchen.
0:14:52 > 0:14:59it's a rather odd sort of lean-to, pained bright orange, some plumbing for an old sink.
0:14:59 > 0:15:01it's all a bit eerie though.
0:15:01 > 0:15:05I've got to investigate further.
0:15:05 > 0:15:08Also on the ground floor there is this large reception room.
0:15:08 > 0:15:15Through the sliding door is what appears to be a second kitchen, complete with a huge ancient boiler
0:15:15 > 0:15:18so the heating system will need overhauling.
0:15:18 > 0:15:22Now, at the end of this very long corridor,
0:15:22 > 0:15:27we have a little toilet, and the only bathroom in the house.
0:15:27 > 0:15:31Now, I think this is a lean-to that's been added on a later stage.
0:15:31 > 0:15:33If you come down here you can see wonderful
0:15:33 > 0:15:37views of the garden and it's almost like having a bath outside.
0:15:37 > 0:15:42A bit too exposed for my liking in every sense of the word,
0:15:42 > 0:15:45but at least there's a separate loo.
0:15:45 > 0:15:50Well, the biggest selling point for this property is the plot that it sits on.
0:15:50 > 0:15:52Look at the size of the garden.
0:15:52 > 0:15:54it's a quarter of an acre.
0:15:54 > 0:15:56You would certainly need a sit on lawn mower here.
0:15:56 > 0:16:03I can see a developer coming along and knocking this place down and building not one, but two houses.
0:16:03 > 0:16:09Who knows, this place might not be here for too much longer.
0:16:09 > 0:16:12The house was in the middle of the green belt, so developing it
0:16:12 > 0:16:18wasn't guaranteed and on the first floor, the challenges continued.
0:16:18 > 0:16:23So upstairs we've got this really open landing. There are four bedrooms up here.
0:16:23 > 0:16:26One to the left, you can see the water tank and the boiler,
0:16:26 > 0:16:29you can almost get rid of those and put them somewhere else in the house
0:16:29 > 0:16:32and here we have got a really low banister.
0:16:32 > 0:16:33That will have to be brought up.
0:16:33 > 0:16:35That's incredibly dangerous for kids.
0:16:35 > 0:16:42Another bedroom through here, a good size, but my guess is that this box room was actually part of the
0:16:42 > 0:16:47landing, because if you go like that that's just a stud wall so I don't think that room was originally here.
0:16:47 > 0:16:51And through there we've got a really big double.
0:16:51 > 0:16:54So overall, quite spacious upstairs.
0:16:54 > 0:16:58From up here, the size of the plot and its potential is clear to see.
0:17:00 > 0:17:02Well, this is all really exciting.
0:17:02 > 0:17:07The plot alone is a desirable commodity, even though it fronts on to a busy main road.
0:17:07 > 0:17:11There is so much you can do with this house, you could extend it.
0:17:11 > 0:17:13You could knock it down and have a fabulous new-build.
0:17:13 > 0:17:19Either way, I bet they were keen on this one at auction.
0:17:19 > 0:17:24Loads of interest in this one. Possible redevelopment potential.
0:17:24 > 0:17:26230 anywhere? 230.
0:17:26 > 0:17:29230, I'm on the way. It's in the room.
0:17:29 > 0:17:33240. 240, 250, 260, 260, sir?
0:17:33 > 0:17:39250 there. 260, 270, 280, 290, 290.
0:17:39 > 0:17:42290, 300.
0:17:42 > 0:17:44At £300,000.
0:17:44 > 0:17:48310 and 20. 315 can I say?
0:17:48 > 0:17:5415 at the back. 315 and 20 your time to come in again now. 320 can I say?
0:17:54 > 0:17:57315, right. 320 bid. And 5. 325.
0:17:57 > 0:18:01I've got 325 right by the side at the back. And 330 I want.
0:18:01 > 0:18:04Are we all done at 325? 330.
0:18:04 > 0:18:08And five? 340 and five.
0:18:08 > 0:18:11And 5 at the back. At 5 and 50.
0:18:11 > 0:18:13350, and 5.
0:18:13 > 0:18:15At 5, all the back.
0:18:15 > 0:18:18At 355. 360.
0:18:18 > 0:18:21And 5. 365. And 70.
0:18:21 > 0:18:24370, 365 in the middle I have.
0:18:24 > 0:18:31370, I want. The first time at 365, second time at 365. 70 anywhere?
0:18:31 > 0:18:35All done at £365,000 bid with you standing in the middle.
0:18:35 > 0:18:38Are you happy? At 365, your bid, sir.
0:18:38 > 0:18:41All done at 365. It's yours at 365.
0:18:43 > 0:18:48So it was Richard and Stephanie who paid £365,000 for that old property in Meopham.
0:18:51 > 0:18:58Stephanie is an associate director of an insurance brokers and Richard is currently a stay at home dad.
0:19:01 > 0:19:04They live just 20 minutes away and this will be their new family home,
0:19:04 > 0:19:08although that was decided quite late in the day.
0:19:08 > 0:19:13We were going to the auction to have a look at another property and
0:19:13 > 0:19:15just to get a feel for auctions in general.
0:19:15 > 0:19:18And when we were on our way, I was looking through the catalogue
0:19:18 > 0:19:21and I said, I really like that house, shall we go and have a quick look?
0:19:21 > 0:19:25So we came and had a look at the outside, because we couldn't get in, it was too late at that point.
0:19:25 > 0:19:29So you didn't even view the interior, you hadn't been inside?
0:19:29 > 0:19:32We looked through the windows and letter boxes and stuff.
0:19:32 > 0:19:35- And thought, got to have it?- Yeah, I was jumping up and down
0:19:35 > 0:19:38around the garden saying, can we have it? Can we have it?
0:19:38 > 0:19:41Yeah, her little face was so, she was so excited.
0:19:41 > 0:19:43So we went in and saw some estate agents
0:19:43 > 0:19:48and they told us that we wouldn't get it for less than £350,000.
0:19:48 > 0:19:52That is what I set my, I thought the limit should be and Steph really
0:19:52 > 0:19:54wanted to pay up to £380,000, so we met in the middle.
0:19:54 > 0:20:00I didn't want to disappoint her. In the end we went there and bought it.
0:20:00 > 0:20:04You're nice. So why did you want this house so much, Steph,
0:20:04 > 0:20:05what was it about it?
0:20:05 > 0:20:10Well, it's a huge plot and it's got potential to be a nice big family
0:20:10 > 0:20:17home and we have a large family and I just thought it would be perfect. It just felt right.
0:20:19 > 0:20:25They certainly need a larger house, with the recent arrival of baby Evie they've now got five kids.
0:20:25 > 0:20:30Isabel, Olivia, Amy and Jordan - a real Brady Bunch.
0:20:30 > 0:20:34Their current four bedroom home is not big enough anymore.
0:20:34 > 0:20:36- Well after the auction we came back to view it.- Yes.
0:20:36 > 0:20:42And it started raining and there was a big traffic jam outside and we looked around it and we thought no.
0:20:42 > 0:20:45- What have we done?- Oh, no. - SHE LAUGHS
0:20:45 > 0:20:48But we've done it now. We've got to get on with it.
0:20:48 > 0:20:51# No regrets now
0:20:53 > 0:20:55# They only hurt. #
0:20:55 > 0:20:58After spending £365,000,
0:20:58 > 0:21:02it would have been an expensive purchase to regret.
0:21:04 > 0:21:06I admire their positive attitude,
0:21:06 > 0:21:10but what do the kids think of their new home?
0:21:10 > 0:21:13- I thought it was a dump.- Did you think it was a dump?
0:21:13 > 0:21:15No, it was just cold and scary.
0:21:15 > 0:21:17And what do you think now?
0:21:17 > 0:21:22I think this is appalling at the moment, but when we do it up, I think it will be all right.
0:21:22 > 0:21:27It is appalling at the moment. Now what about that fantastic garden? Have you got any plans for outside?
0:21:27 > 0:21:32Yes! A swimming pool and a gigantic trampoline.
0:21:32 > 0:21:37Well, that's the kids ideas sorted out, trampolines and swimming pools,
0:21:37 > 0:21:40but what about Mum and Dad's plans?
0:21:40 > 0:21:46Well, to build as far as we can out the back on two floors and create another, one, two, three bedrooms
0:21:46 > 0:21:53and an en suite and take away the little box room at the front and make that a nice big landing.
0:21:53 > 0:21:59- What was your budget. - We've got about 55, £60,000 to build the extension and renovate it.
0:21:59 > 0:22:01And Richard, have you got building experience?
0:22:01 > 0:22:05Well, I built a two storey extension on our current house.
0:22:05 > 0:22:08I turned it into a four-bedroomed house from three.
0:22:08 > 0:22:11But that's as far as it goes.
0:22:11 > 0:22:13Well, I can't wait for this project to be completed.
0:22:13 > 0:22:16How long do you think it will take you before it's done?
0:22:16 > 0:22:20- I think it will be a year. - Well, we're hoping for about nine months, but with the planning
0:22:20 > 0:22:23delays and things like that, it will probably be nearer a year.
0:22:23 > 0:22:26When we went back eight months later,
0:22:26 > 0:22:31the renovation hadn't gone as smoothly as anticipated.
0:22:31 > 0:22:35We thought our budget was quite OK, didn't we at the start?
0:22:35 > 0:22:38It suddenly dawned on me that we really
0:22:38 > 0:22:41didn't have enough money to do it all quickly.
0:22:41 > 0:22:43The property needed more time.
0:22:43 > 0:22:45Two-and-a-half years in fact.
0:22:45 > 0:22:48But we'll show you the finished results later in the show.
0:22:51 > 0:22:55Coming up, this Devon house may not look that inspiring, but it has got a secret.
0:22:55 > 0:23:00The really exciting thing about this property is out there.
0:23:01 > 0:23:05When we last visited this house in Kent, things weren't going too well.
0:23:05 > 0:23:08We've really bitten off more than we can chew, haven't we?
0:23:08 > 0:23:12But the good news is it's finished and looks amazing!
0:23:12 > 0:23:16But first we're returning to Birmingham where there's been a change of career.
0:23:16 > 0:23:21Andy has never done a manual job before this and he has really got stuck in.
0:23:23 > 0:23:27When we were last in the Stechford area of Birmingham,
0:23:27 > 0:23:32Andy and Fred had followed the developers' motto and bought the worst house in the street.
0:23:32 > 0:23:37They paid £96,000 for this dangerous and derelict one.
0:23:38 > 0:23:45Well, four-and-a-half months later, we've returned to check it out and the transformation is startling.
0:23:45 > 0:23:48There are new windows and a door.
0:23:48 > 0:23:51Inside, the damp rotten front room that
0:23:51 > 0:23:56once resembled the scene of a crime has been repaired and decorated.
0:23:56 > 0:24:02The back living room now has that typical newly-decorated magnolia finish.
0:24:02 > 0:24:07Let's be honest, there was hardly a kitchen at all, but that's certainly changed now.
0:24:07 > 0:24:12As Fred says, the house was in a terrible state.
0:24:12 > 0:24:15It was a tip. It was derelict.
0:24:15 > 0:24:17It was damp and wet. No heating.
0:24:17 > 0:24:21Nobody had lived here, one neighbour said almost 40 years.
0:24:21 > 0:24:23Oh, it's a complete transformation.
0:24:23 > 0:24:26When we took it over we were in complete darkness, but
0:24:26 > 0:24:30as you look around now, it's nice and bright and everything is clean.
0:24:30 > 0:24:32I'm really proud of what we've done here to be honest.
0:24:32 > 0:24:39Remember, after being made redundant from the corporate world, this was a complete career change for Andy.
0:24:39 > 0:24:41Andy has been a big revelation.
0:24:41 > 0:24:44I don't want to blow his own trumpet, but he has
0:24:44 > 0:24:48never done a manual job before this and he really got stuck in.
0:24:48 > 0:24:55It's been great fun. It's something I love doing is when I'm working, you've got to enjoy it as well.
0:24:55 > 0:24:59So I think we've bounced off each other quite well.
0:24:59 > 0:25:03The two friends did the majority of the labour themselves and it's been tough.
0:25:03 > 0:25:07As there was no damp proofing, the old quarry tiles on the ground floor
0:25:07 > 0:25:12had to be removed and the earth dug down 16 inches before a new water proof membrane could be laid.
0:25:12 > 0:25:16They didn't stop inside.
0:25:16 > 0:25:18Once the nettles and rubbish had been cleared at the side
0:25:18 > 0:25:22of the house, they could then see the challenge that lay ahead.
0:25:22 > 0:25:25Because it was soul-destroying when we first saw the
0:25:25 > 0:25:30state of the garden and realised what a massive project we'd got on our hands,
0:25:30 > 0:25:35but it's turned out fantastic and we have a lovely vista there almost into a natural wood.
0:25:35 > 0:25:43The garden is 300 feet long and clearing it took seven skips, four more than anticipated.
0:25:43 > 0:25:48Andy's wife, Tiffany, and Fred's partner, Vicky, all lent a hand.
0:25:48 > 0:25:51To start with, Tiffany couldn't believe what lads had bought.
0:25:51 > 0:25:57The first time I saw this property, I honestly thought what have they taken on for their first project?
0:25:57 > 0:26:03But the boys were happy and as the snow turned to sunshine the house has also blossomed.
0:26:03 > 0:26:06# Bring me sunshine.
0:26:06 > 0:26:08# In your smile. #
0:26:08 > 0:26:12It's been entertaining, amusing. They're like a comedy duo.
0:26:12 > 0:26:15# Bring me fun, bring me sunshine
0:26:15 > 0:26:18# Bring me love! #
0:26:18 > 0:26:20I didn't initially anticipate spending
0:26:20 > 0:26:23so much time on the project, but I got stuck in and got interested
0:26:23 > 0:26:28and excited by the whole thing. So we've been doing all the manual work ourselves between us.
0:26:28 > 0:26:32I have to say now we've finished, it's very rewarding.
0:26:32 > 0:26:38Originally, I was going to undertake a six-week tiling course at night school and unfortunately when I went
0:26:38 > 0:26:43to the first course the tutor was actually held up by the bad weather and couldn't make it.
0:26:43 > 0:26:48The following week we'd all ready started work on the house and I just got stuck into it and I just left it.
0:26:50 > 0:26:55When you see the finish achieved in the bathroom, you can see that all turned out well.
0:26:55 > 0:27:00As you can see now we've got a very, very nice bright bathroom here.
0:27:00 > 0:27:04In the corner here where you had the old wrought iron bath,
0:27:04 > 0:27:06we stripped everything out, as you can see we've got a nice,
0:27:06 > 0:27:09clean white suite and we're very, very pleased with the outcome.
0:27:09 > 0:27:16How much have Andy and Fred spent here on top of the £96,000 they paid on auction day?
0:27:18 > 0:27:22The original budget was between 25 and 30, we've actually spent
0:27:22 > 0:27:27just over £29,500, give or take a few pounds.
0:27:27 > 0:27:31Being made redundant can dent anyone's confidence, but Andy seems
0:27:31 > 0:27:35- to have turned adversity to his advantage.- He's a changed person.
0:27:35 > 0:27:38He really is. The difference in him now is unbelievable.
0:27:38 > 0:27:40He has thrown himself 100% into this project.
0:27:40 > 0:27:43I'm strongly minded now to
0:27:43 > 0:27:47continue this as a career going forward working with Fred.
0:27:47 > 0:27:51So the two friends will start a new joint venture.
0:27:51 > 0:27:53What's the plan now for the house?
0:27:54 > 0:27:56We're going to sell it on.
0:27:56 > 0:28:00We've had a few really interested viewers and fingers crossed maybe a bid on the table.
0:28:02 > 0:28:06Time to get some advice from two local estate agents.
0:28:08 > 0:28:10It's a nice house. It's been well done.
0:28:10 > 0:28:14I'm almost stunned at the transformation
0:28:14 > 0:28:18between when I first saw it to what it is today.
0:28:18 > 0:28:19It's a very nice refurb.
0:28:19 > 0:28:23It's a fairly standard magnolia all the way through.
0:28:23 > 0:28:26It's got a reasonable kitchen, a reasonable bathroom.
0:28:26 > 0:28:29The layout of the suite and things like this is good.
0:28:29 > 0:28:31I think it's nice, it's bright, airy.
0:28:31 > 0:28:33It's everything a growing family would want.
0:28:33 > 0:28:35A nice garden, nice size, well laid out.
0:28:35 > 0:28:38They've lawned the majority of it, it's all fenced in.
0:28:38 > 0:28:41It will appeal to younger families.
0:28:41 > 0:28:45The garden is spectacular. it's very unusual to see a garden of
0:28:45 > 0:28:51this particular length and obviously down the bottom you're going to get wildlife and all sorts of things.
0:28:51 > 0:28:55Could they get tenants if they decided to rent out the house?
0:28:55 > 0:29:00Rental per calendar month, I would imagine that you would be getting around the £500.
0:29:00 > 0:29:04I'd happy to rent out as £595 per calendar month.
0:29:04 > 0:29:08Yeah, in the area that's about right, but we're not looking to rent at the moment.
0:29:08 > 0:29:14We just want to sell on and hopefully if there is some profit in there, take it on to the next one.
0:29:14 > 0:29:18Let's hear how much the place is now worth.
0:29:18 > 0:29:25Remember, they paid £96,000 at auction and spent under £30,000, making a total of nearly £126,000.
0:29:25 > 0:29:32Given the current market conditions, I would recommend a figure of just under £160,000.
0:29:32 > 0:29:37I would be happy to put this on the market at £149,950.
0:29:37 > 0:29:44Sounds like a potential gross profit of at least £24,000 before the usual selling expenses.
0:29:44 > 0:29:46That's fantastic.
0:29:46 > 0:29:48Yeah, that's pretty much as we were hoping for
0:29:48 > 0:29:51and indeed what we've got it marketed for at the second.
0:29:51 > 0:29:56We've had a lot of fun, a lot of giggles along the way and a fantastic experience.
0:29:56 > 0:29:58So they're happy.
0:29:58 > 0:30:00# In this world where we live
0:30:00 > 0:30:03# There should be more happiness... #
0:30:03 > 0:30:06When we first came here, everyone said, "What the hell are you doing?"
0:30:06 > 0:30:09I think we've justified the spend on it.
0:30:09 > 0:30:12We had a vision for it and if you look at it now,
0:30:12 > 0:30:15I think it's all come to plan and we're very pleased with it.
0:30:15 > 0:30:17# ..Bring me sunshine Bring me love. #
0:30:17 > 0:30:21A wise investment that turned into a nice little earner.
0:30:27 > 0:30:30I'm in beautiful Devon, Exmouth to be precise,
0:30:30 > 0:30:34at the mouth of the River Exe - surprise, surprise(!)
0:30:34 > 0:30:37A lovely place to live, a lovely place to buy property.
0:30:40 > 0:30:44It's no surprise there is always demand for property near the coast.
0:30:44 > 0:30:46I left the beach and headed into town.
0:30:46 > 0:30:51Well, the property I'm here to see is on Park Lane.
0:30:51 > 0:30:57But unlike its more glamorous London cousin, this Park Lane has more garages than hotels.
0:30:57 > 0:31:01Still, it's just a short walk from the sea front and the town centre
0:31:01 > 0:31:03and this is the house I'm here for.
0:31:03 > 0:31:05It's a two-bedroom end-of-terrace
0:31:05 > 0:31:08at a guide price of £120,000.
0:31:08 > 0:31:10Let's take a look inside.
0:31:13 > 0:31:15Quite a smart front door, which bodes well.
0:31:15 > 0:31:19A little entrance hall here. Nice carpet too. This is looking good.
0:31:19 > 0:31:23The front room there looks to be in reasonable condition with sliding doors.
0:31:23 > 0:31:25Stairs up to the bedrooms,
0:31:25 > 0:31:29then through into the rear kind of dining-room area, I suppose.
0:31:29 > 0:31:31Kitchen - it's not big and I'd think about
0:31:31 > 0:31:34potentially doing something with this wall.
0:31:34 > 0:31:36It feels a bit strange. I don't know why,
0:31:36 > 0:31:39but maybe you could do something with the layout.
0:31:39 > 0:31:40It looks a bit tired.
0:31:40 > 0:31:44You want to spend some money on that for sure, but overall, not bad.
0:31:44 > 0:31:49However...the really exciting thing about this property is out there.
0:31:52 > 0:31:55It's not this little conservatory, which is useful,
0:31:55 > 0:31:59though I do notice it's only got a single skin so you will have some damp issues.
0:31:59 > 0:32:00It's not that.
0:32:00 > 0:32:04It's not the fact that you've got a garage either. Oh, no.
0:32:04 > 0:32:07It is the fact that there is an access at the bottom there,
0:32:07 > 0:32:11which makes the whole of this rear of the property
0:32:11 > 0:32:14a potential building plot.
0:32:14 > 0:32:18Get the right planning permission and this is worth a lot of money.
0:32:18 > 0:32:24The guide price of £120,000 doesn't seem to reflect the development opportunity,
0:32:24 > 0:32:26just the value of the house itself.
0:32:26 > 0:32:30But for developers in search of a speculative investment,
0:32:30 > 0:32:33it is bound to generate interest.
0:32:33 > 0:32:35So what's on offer up on the first floor?
0:32:38 > 0:32:40Well, the bathroom is a very decent size,
0:32:40 > 0:32:43big enough for a shower and a bath, which is lovely.
0:32:43 > 0:32:46You've got a bedroom here, which is huge. It's got its own sink as well.
0:32:46 > 0:32:50Then at the front, another really good-sized double bedroom.
0:32:50 > 0:32:55But this place is just crying out for a bit more imaginative use of space up here.
0:32:55 > 0:32:59It could easily be a three-bedroomed property, I'm sure. I'm not sure how you'd do it.
0:32:59 > 0:33:03You could move the stairs perhaps, jiggle the internal partitions around.
0:33:03 > 0:33:06It is good,
0:33:06 > 0:33:10but it is not quite fulfilling its true potential to my mind.
0:33:12 > 0:33:16I asked a local estate agent to come and look over the property
0:33:16 > 0:33:17to give me her views on it.
0:33:17 > 0:33:19At the guide price of £120,000,
0:33:19 > 0:33:22it would appear good value, but there are issues
0:33:22 > 0:33:29including limited accommodation and its rather unusual entrance next to a row of garages.
0:33:29 > 0:33:30Park Lane is an unusual road
0:33:30 > 0:33:34in that it is between two larger roads of typical Victorian houses.
0:33:34 > 0:33:38The kerb appeal of this house is not as attractive as some others.
0:33:38 > 0:33:41For buy-to-let investors it's rooms that count,
0:33:41 > 0:33:44so how much income could be generated?
0:33:44 > 0:33:48If the property were to be renovated and remain as a two-bedroom home,
0:33:48 > 0:33:54it would achieve about £750 per calendar month.
0:33:54 > 0:33:58If it were to be made into a three-bedroom, it should achieve £800 per calendar month.
0:34:00 > 0:34:06What could the potential value be, either as a two-bed house or if it was made into a three-bed?
0:34:07 > 0:34:12If the property was not structurally altered in anyway and just kept as it is, but renovated,
0:34:12 > 0:34:18in the current market I would recommend an asking price of £175,000.
0:34:18 > 0:34:22If it were possible to make a third bedroom,
0:34:22 > 0:34:25I would recommend around £190,000.
0:34:25 > 0:34:31Of course, the big money here would be if you got planning permission to build a second new property
0:34:31 > 0:34:34on the land at the back.
0:34:34 > 0:34:39But although you'd gain a house, there is a downside.
0:34:39 > 0:34:43If it were possible to put an additional property in the garden,
0:34:43 > 0:34:46it would obviously detract from the value of this house
0:34:46 > 0:34:48as you would lose the parking.
0:34:48 > 0:34:52That would bring the value of this property down to about 150.
0:34:52 > 0:34:57However, the new property, if you had a very small two-bedroomed detached property,
0:34:57 > 0:35:03assuming you could have some sort of parking, that would be worth about £170 I would say.
0:35:03 > 0:35:06There are several options here.
0:35:06 > 0:35:11It could be ideal for a developer, or maybe just as a home for someone.
0:35:11 > 0:35:18So a nice enough little house, but the icing on the cake for me is that potential building plot at the back.
0:35:18 > 0:35:21This really does put this into another league.
0:35:21 > 0:35:24Let's see who's spotted the opportunity at the auction.
0:35:24 > 0:35:28So it's a two-bedroomed, two-storey, end-of-terrace house for refurb.
0:35:28 > 0:35:31It has the longer-than-average garden at the back as you can see,
0:35:31 > 0:35:35and a copy of a recent e-mail from a local architect talking about
0:35:35 > 0:35:38the possibility of getting... possibly a little unit at the back.
0:35:38 > 0:35:41That is the icing on the cake.
0:35:41 > 0:35:43It should be 135 every time.
0:35:43 > 0:35:46135. Who will kick it off? 130.
0:35:46 > 0:35:49130, 132, 132,
0:35:49 > 0:35:52134, a nice home.
0:35:52 > 0:35:55136. What can you get in Exmouth for that, not far from the beach?
0:35:55 > 0:35:57138, 138.
0:35:57 > 0:36:00138. 140? Thank you, 140.
0:36:00 > 0:36:04At 140, at 140... 145, 145.
0:36:08 > 0:36:10I've got 146 there
0:36:10 > 0:36:12and I think you said a half, 146 and a half.
0:36:12 > 0:36:15At 146 and a half, 147.
0:36:15 > 0:36:19147 and a half. 148, 148 and a half.
0:36:19 > 0:36:22149, 149 and a half.
0:36:22 > 0:36:24At 149 and a half once,
0:36:24 > 0:36:28at 149 and a half twice.
0:36:28 > 0:36:31At 149 and a half, are you sure and done? Here goes
0:36:31 > 0:36:32at 149 and a half.
0:36:32 > 0:36:34- GAVEL BANGS - Congratulations.
0:36:34 > 0:36:41The successful bid of £149,500 came from Hexa who was at the auction with her partner Alan.
0:36:41 > 0:36:47Originally from Germany, Hexa is a tennis coach and they both now live in Exmouth.
0:36:47 > 0:36:51This property is her investment, but Alan is going to work on it.
0:36:51 > 0:36:57He is a builder by trade and a project manager, and has developed flats for himself in the past.
0:36:57 > 0:36:59I met up with him to find out their plans.
0:36:59 > 0:37:02Alan, lovely to meet you. Congratulations.
0:37:02 > 0:37:04Tell me why you wanted to buy this place.
0:37:04 > 0:37:06It was part investment.
0:37:06 > 0:37:09Part...just to see what we could do - project manage etcetera.
0:37:09 > 0:37:12First job for Hexa.
0:37:12 > 0:37:14Does Hexa have property experience?
0:37:14 > 0:37:16Yes, in Germany, but not in England
0:37:16 > 0:37:20because she moved over four years ago so it is the first one from auction
0:37:20 > 0:37:23and it is the first one she actually bought.
0:37:23 > 0:37:26So how involved were you in the decision to buy this property?
0:37:26 > 0:37:28It was 50/50 all the way.
0:37:28 > 0:37:34We saw the guide and we had a quick look literally for ten minutes when we came to view the property.
0:37:34 > 0:37:36It was an open house.
0:37:36 > 0:37:40Hexa and Alan could prove a great team for this project.
0:37:40 > 0:37:43They hope to get planning permission to build on the plot out the back.
0:37:43 > 0:37:48But first things first, what are their ideas for the house?
0:37:48 > 0:37:50What will you do to sort this place out?
0:37:50 > 0:37:55I'd like to take down this wall so it opens up the kitchen a bit more, a nice big entrance to the kitchen,
0:37:55 > 0:38:00so it would look more like a bigger galley kitchen than a small narrow one.
0:38:00 > 0:38:01Stick a new boiler in.
0:38:01 > 0:38:05Stick a second skin in the conservatory to stop any damp coming through
0:38:05 > 0:38:10and move the main stairs to the side of the building instead of coming up the middle.
0:38:10 > 0:38:11Is that a big job, to move the stairs?
0:38:11 > 0:38:16Not a very big job, about a week's work for me and the carpenter to move them.
0:38:16 > 0:38:17And then upstairs?
0:38:17 > 0:38:21Upstairs basically keep it as it is, tidy it up, rewire it, new radiators, etc.
0:38:21 > 0:38:25We're allowing about £15,000 on the spend to do it all.
0:38:25 > 0:38:29So the idea being to do what when it is finished? Rent it?
0:38:29 > 0:38:32Either rent it or sell it. We won't know until we're finished.
0:38:32 > 0:38:36Alan is an experienced builder, confident to tackle most things.
0:38:36 > 0:38:42Hexa paid £149,500 for this, her first development venture,
0:38:42 > 0:38:46and she looks to have bought one with added potential.
0:38:49 > 0:38:51So how important was the plot of land to you?
0:38:51 > 0:38:55Not that important really because I know the house would sell for £175,000
0:38:55 > 0:38:58cos there's a house across the road for sale for £175,000.
0:38:58 > 0:39:02It is two-bedroom with a small garage, but we've got the big double garage
0:39:02 > 0:39:05with the extra bit of land for the extra parking,
0:39:05 > 0:39:08so we've got three, four parking spaces now.
0:39:08 > 0:39:11- And the potential building plot is a bonus on top of that.- Yes, big bonus
0:39:11 > 0:39:15because potentially it is like £50,000 or £60,000 sat there,
0:39:15 > 0:39:18once outline planning permission has been granted.
0:39:18 > 0:39:21- So is that what you'll do, apply for planning permission?- Yeah.
0:39:21 > 0:39:23Is the idea to sell them separately?
0:39:23 > 0:39:27I'm not sure yet. We might build it ourselves and sell them together.
0:39:27 > 0:39:30What kind of a timescale have you got for this and sorting out the land?
0:39:30 > 0:39:32The main house, six weeks.
0:39:32 > 0:39:35Outside could take three or four months with planning,
0:39:35 > 0:39:37but we'll see how it goes and tidy it up for the time being
0:39:37 > 0:39:40so we can use the driveway and the garage for the time being.
0:39:40 > 0:39:43So is Hexa going to be involved in this at all?
0:39:43 > 0:39:46Not actually working-wise, because she is pregnant.
0:39:46 > 0:39:49She won't do any manual work, just paperwork.
0:39:49 > 0:39:52Listen, good luck with it all. We look forward to seeing how you get on.
0:39:52 > 0:39:53Thank you.
0:39:56 > 0:40:01Well, Alan is certainly a good guy to guide you through a project like this,
0:40:01 > 0:40:05and I'm sure he'll have no problem turning it around in that six-week timescale.
0:40:05 > 0:40:10The big question is, will they manage to get planning permission for the plot at the back?
0:40:10 > 0:40:12You can find out later in the show.
0:40:15 > 0:40:17So, did our fearless developers emerge victorious?
0:40:17 > 0:40:22- Or did they flounder in the shallow end of the property developing pool? - Oh, let's find out.
0:40:22 > 0:40:27We now return to Meopham in Kent where in 2006,
0:40:27 > 0:40:33Richard and Stephanie had paid £365,000 for this tired old property.
0:40:34 > 0:40:38As they have five children, they had outgrown their old four-bedroom house.
0:40:38 > 0:40:42They plan to make this a five-bedroom family home and add an extension at the back.
0:40:42 > 0:40:47With their £60,000 budget, it all looked fairly straightforward,
0:40:47 > 0:40:50but when we first came back to check on their progress,
0:40:50 > 0:40:53the project had become much bigger than they expected.
0:40:53 > 0:40:55- Bigger.- Definitely! - We've really bitten off
0:40:55 > 0:40:59more than we can chew and because we're relying on family and friends
0:40:59 > 0:41:02to do the majority of the work, it is taking forever.
0:41:02 > 0:41:05Getting planning permission took six months
0:41:05 > 0:41:09because the existing extensions at the back turned out to be illegal.
0:41:09 > 0:41:13This meant the couple could only extend by 30% of the original house.
0:41:13 > 0:41:17Also, it will have to remain just a four-bedroom home
0:41:17 > 0:41:19because of the green-belt restrictions,
0:41:19 > 0:41:25but Richard and Stephanie aren't too worried, they're just pleased to have finally started work.
0:41:25 > 0:41:29Well, as you can see, we're standing in front of the footings for the extension.
0:41:29 > 0:41:32The old lean-to was knocked down as you can see.
0:41:32 > 0:41:35There will be French doors here leading on to a patio area.
0:41:35 > 0:41:40Double sliding sash windows overlooking the garden from the kitchen.
0:41:40 > 0:41:43The return for the galleried landing will just be up here
0:41:43 > 0:41:48and there will be the family bathroom and the fourth double bedroom above that.
0:41:50 > 0:41:54The house had been rewired, replastered and had new windows put in at the front.
0:41:54 > 0:41:59It was still a few weeks before they could move in, but that didn't bother their five children.
0:41:59 > 0:42:02Now the trampoline is up, they're over the moon.
0:42:02 > 0:42:05That's all that is really important to them, the trampoline.
0:42:05 > 0:42:07# Well, jump
0:42:09 > 0:42:11# Might as well jump... #
0:42:11 > 0:42:15One area of the house that nobody should have been jumping in was the front room.
0:42:15 > 0:42:18Remember those mysterious holes in the floor?
0:42:20 > 0:42:24It turns out it was because the floors were rotten and I had to replace the floors.
0:42:27 > 0:42:30Initially, they were both unsure about buying it,
0:42:30 > 0:42:33so ten months on, do they have any regrets?
0:42:33 > 0:42:37I think Richard's had some regrets with the amount of work involved,
0:42:37 > 0:42:38but I personally haven't.
0:42:38 > 0:42:41I'm really pleased that we got it
0:42:41 > 0:42:44and I can still see it being what we wanted it to be.
0:42:46 > 0:42:49Well, it took some time, but three and a half years later,
0:42:49 > 0:42:52since Richard and Stephanie bought it at auction,
0:42:52 > 0:42:53the work is now finished.
0:42:53 > 0:42:57They have transformed the run-down property
0:42:57 > 0:43:00into a grand detached country residence.
0:43:00 > 0:43:04Even though they were restricted in the size of the extension they could build,
0:43:04 > 0:43:07they have managed to create a well-balanced looking house.
0:43:09 > 0:43:13Inside, Stephanie's preparation work has paid dividends
0:43:13 > 0:43:15in the living room.
0:43:15 > 0:43:21The other room at the front is now a family area-cum-dining room.
0:43:21 > 0:43:24It flows right through to the back into the extension, where
0:43:24 > 0:43:27a beautiful kitchen has been installed.
0:43:33 > 0:43:35A bit different to the old extension,
0:43:35 > 0:43:38and fortunately the bathroom is no longer downstairs either.
0:43:38 > 0:43:40It has been moved to the first floor
0:43:40 > 0:43:43where a passage off the galleried landing leads
0:43:43 > 0:43:46to the new double-aspect bedroom built into the extension.
0:43:48 > 0:43:51Stephanie and Richard's master bedroom at the front
0:43:51 > 0:43:53is now en suite,
0:43:53 > 0:43:55but it is downstairs in the new extension
0:43:55 > 0:43:58where the layout change is most evident.
0:43:58 > 0:44:03Well, this is where the house used to finish, just this doorway here. We knocked down the old lean-to.
0:44:03 > 0:44:09That enabled us to put, I think it was about 580 square foot on the side of the house.
0:44:09 > 0:44:12Brought it out as far as we could to the boundary.
0:44:12 > 0:44:14We've got a double bedroom upstairs.
0:44:14 > 0:44:18The bathroom above here, downstairs loo, utility cupboard.
0:44:18 > 0:44:21It is all underfloor heating. Everywhere there is a slate floor.
0:44:21 > 0:44:25The kitchen, we're happy with the layout. It is nice and airy.
0:44:25 > 0:44:27You've got two windows at the back
0:44:27 > 0:44:30and it's nice to watch the kids playing in the garden.
0:44:30 > 0:44:32They've created a great family home.
0:44:32 > 0:44:35Their son Jordan, who is now 18, has moved out.
0:44:35 > 0:44:37His two younger sisters share one bedroom
0:44:37 > 0:44:40while the two older ones have one each.
0:44:40 > 0:44:42How long have they been living here?
0:44:42 > 0:44:44We moved in about 18 months ago.
0:44:44 > 0:44:47Primarily to speed things up, really, so we could work on it
0:44:47 > 0:44:51for more of the day because we were just fitting it in around work and school.
0:44:51 > 0:44:55So we thought if we lived here we would get it done more quickly and it was a big mistake.
0:44:55 > 0:45:00Yeah, we done nothing. We just lived here and we got used to living with all the mess.
0:45:00 > 0:45:03I suppose it helped us decide what we wanted to do with it.
0:45:03 > 0:45:07Yeah, we realised we should have made the kitchen the living room and this the kitchen.
0:45:08 > 0:45:13Well, that's often the case, but I reckon there is still plenty of flexibility in this house.
0:45:13 > 0:45:17That snug room at the back is a great place to escape for some peace and quiet.
0:45:17 > 0:45:22After their time off, they started work with a vengeance about a year ago.
0:45:22 > 0:45:26They worked through, room by room, until they eventually got it finished.
0:45:26 > 0:45:32Up on the first floor they have ended up with three bedrooms, one en suite, plus a family bathroom.
0:45:32 > 0:45:34At the back, the bedroom where the old
0:45:34 > 0:45:38immersion tank was is now a single bedroom overlooking the back garden.
0:45:42 > 0:45:46The front fourth bedroom is a large double, shared by two of the girls.
0:45:48 > 0:45:53When we first bought it, I was a bit scared of it, but now I really love it.
0:45:53 > 0:45:56My mum and dad have done a really good job in putting the house
0:45:56 > 0:45:59together and now it's a beautiful home to live in.
0:45:59 > 0:46:02Everyone seems happy.
0:46:02 > 0:46:07This room and the snug were one room and we decided to put the wall up
0:46:07 > 0:46:09and make it into two rooms and that really works for me.
0:46:09 > 0:46:13The kids have their TV space and we've got somewhere quiet to escape.
0:46:13 > 0:46:19With four younger sisters, I'm sure 18-year-old Jordan is delighted with the room when he comes to stay.
0:46:19 > 0:46:22Creating this family house has required lots of help
0:46:22 > 0:46:26from friends and family, but the majority of the work was down to Richard.
0:46:26 > 0:46:29We've saved a lot of money on labour because Richard
0:46:29 > 0:46:32has done the work himself, so what we've saved on labour...
0:46:32 > 0:46:36We could spend on fixtures and fittings, like all the underfloor heating
0:46:36 > 0:46:39and all the slate everywhere downstairs and stuff.
0:46:39 > 0:46:43But it's made the job three times longer.
0:46:43 > 0:46:47Yes, but the wait has been worth it.
0:46:47 > 0:46:50I really like my room, but I also quite like the back room
0:46:50 > 0:46:54because it is a nice relaxing place to be in when you want to be quiet.
0:46:54 > 0:46:57I like my bedroom a lot because I think it is quite a nice size.
0:46:57 > 0:47:02I like my room and the dining room.
0:47:02 > 0:47:04I'm really proud of it.
0:47:04 > 0:47:08I stand across the other side of the road every now and again and look at front.
0:47:08 > 0:47:13Especially since I done the drive and I walk down the other end of the garden and
0:47:13 > 0:47:18look at it from the back and I can sit there for ten minutes thinking I'm pleased with myself for that.
0:47:20 > 0:47:25And so you should be. It is a really lovely family home with a massive garden.
0:47:25 > 0:47:28It's really big compared to the old garden that we had.
0:47:28 > 0:47:31You enjoy it because your rabbits can fit here.
0:47:31 > 0:47:37It has been a long project, but with no labour charges, how has the budget fared?
0:47:37 > 0:47:41How much did they have to spend on top of the £365,000 they paid at auction?
0:47:43 > 0:47:46Our original budget was £60,000, and I think we've pretty much
0:47:46 > 0:47:48- brought it in spot-on. - It is more or less.
0:47:48 > 0:47:50Yeah, we might have spent 65.
0:47:50 > 0:47:54We've come to the end of it and you can see what we've achieved.
0:47:54 > 0:47:57- It was worthwhile.- Definitely, and a good reason to celebrate
0:47:57 > 0:48:01because not only has the house changed, but the family has too.
0:48:01 > 0:48:04Isabel was just a two-year-old tot when we first met,
0:48:04 > 0:48:06and now it is her sixth birthday.
0:48:06 > 0:48:10# Happy birthday, Isabel Happy birthday to you. #
0:48:16 > 0:48:19Time to hear what two local estate agents think of the place now.
0:48:22 > 0:48:26The way that the building flows from room to room, it is extremely good.
0:48:26 > 0:48:31The reception as you come into the kitchen is done extremely well, and
0:48:31 > 0:48:35also the continuation of the flooring in the tile slating is very good.
0:48:35 > 0:48:38Initially when I turned up and looked at the outside I thought
0:48:38 > 0:48:41wow, it has been nicely refurbished.
0:48:41 > 0:48:43The standard of finish is very good.
0:48:43 > 0:48:48I think the owners have done a great job in improving the property throughout.
0:48:48 > 0:48:51The bedroom space suits the current family and the main bedroom
0:48:51 > 0:48:54has an en suite which is essential in a property of this size.
0:48:54 > 0:48:57The bedroom space, the nice thing about it, they are all in proportion.
0:48:57 > 0:49:03They are not the largest bedrooms, but at least proportionally-wise, they are good sizes.
0:49:03 > 0:49:06The standard of work is probably some of the best that I've ever seen.
0:49:06 > 0:49:10The front porch particularly has been done extremely well.
0:49:10 > 0:49:15Well, it is over three and a half years since they paid £365,000 at the auction.
0:49:15 > 0:49:19In that time, they've spent £65,000 on the refurbishment,
0:49:19 > 0:49:23making the total spend £430,000.
0:49:23 > 0:49:25How much is the property now worth?
0:49:28 > 0:49:32If we were to market the property for sale today then we
0:49:32 > 0:49:36would be recommending a marketing price in the region of £575,000.
0:49:36 > 0:49:41If I had to put the property on the market today the value would be £550,000.
0:49:41 > 0:49:45The first valuation of £575,000 would represent a maximum pre-tax
0:49:45 > 0:49:51profit of £145,000 before deducting selling expenses.
0:49:51 > 0:49:54- I suppose £575,000 is a fair price. - I find that quite comforting.
0:49:54 > 0:49:56Shall we sell it?
0:49:56 > 0:49:59No! Can we just enjoy for a bit first?
0:49:59 > 0:50:03Definitely. A family home like this is priceless.
0:50:03 > 0:50:07So are Richard and Stephanie pleased they took on such an ambitious project?
0:50:07 > 0:50:11- Yes.- Yeah, it was absolutely worth it.- Definitely.
0:50:11 > 0:50:13The kids love it here. We have a beautiful garden.
0:50:13 > 0:50:17A nice-looking house. It is nice to live here.
0:50:17 > 0:50:23It is all our own work. It is exactly as we wanted it to be and we got there in the end.
0:50:23 > 0:50:26Yeah, and everybody says how nice it looks.
0:50:26 > 0:50:28So, yeah, it is something to be proud of.
0:50:33 > 0:50:41Earlier in the programme, we were in Devon, where Hexa had bought this Exmouth semi for £149,500.
0:50:41 > 0:50:45Her partner Alan is a builder and a project manager.
0:50:45 > 0:50:48He was going to oversee the refurbishment because
0:50:48 > 0:50:50tennis coach Hexa, originally from Germany,
0:50:50 > 0:50:52was expecting their first child.
0:50:52 > 0:50:55The house had separate access at the rear.
0:50:55 > 0:50:59They had their fingers crossed that one day they might be able to build
0:50:59 > 0:51:02another house on the plot subject to obtaining planning permission.
0:51:06 > 0:51:12Well, two months later, we met up again with Alan, Hexa and baby Max to see how the refurbishment
0:51:12 > 0:51:18had progressed and whether Alan was successful with the planning application.
0:51:20 > 0:51:23Well, outside there are some new steps.
0:51:23 > 0:51:26Upstairs, although the bathroom looked fine,
0:51:26 > 0:51:29the layout and the suite have changed, but it is downstairs
0:51:29 > 0:51:32where the major transformation has taken place.
0:51:32 > 0:51:39The two rooms there are now one and at the back, the kitchen has had a first-class makeover.
0:51:39 > 0:51:45It has all been possible thanks to Alan moving the staircase, as he explains.
0:51:45 > 0:51:49Well, the stairs were originally coming up the centre of the room
0:51:49 > 0:51:52with a small 2'6" passageway with two separate rooms.
0:51:52 > 0:51:56So we decided to apply to planning control to get it all moved.
0:51:56 > 0:51:57We stuck a new steel in.
0:51:57 > 0:52:00We moved the stairs against the side of the building
0:52:00 > 0:52:02so it's opened up the room
0:52:02 > 0:52:05so we can get more space into the room and more light.
0:52:05 > 0:52:08Instead of going up the stairs and turning into each bedroom, you come
0:52:08 > 0:52:13up the stairs on to a landing which gives you more space, so a bit more light down the stairs.
0:52:13 > 0:52:17So they kept just two bedrooms, but they are a good size,
0:52:17 > 0:52:20even though the back one was modified slightly
0:52:20 > 0:52:23to accommodate the new layout of the stairs and landing.
0:52:23 > 0:52:29So the main house is coming on very well, but have they had any more thoughts about the plot at the rear?
0:52:29 > 0:52:32The plans we've got are for a three-bedroomed dwelling at
0:52:32 > 0:52:36rear of the property, all open-plan like the one we've got at moment.
0:52:36 > 0:52:41We're 80% there and hopefully, we'll get a three-bedroom dwelling with a garage on the side.
0:52:41 > 0:52:45These are sketch designs which you provisionally submit to the council
0:52:45 > 0:52:50and hopefully we should hear back within two to three weeks on yes or no.
0:52:50 > 0:52:54It is a waiting game to see if the plans will be accepted.
0:52:54 > 0:52:57But how much have they had to spend so far on the current house
0:52:57 > 0:53:02on top of the £149,500 it cost on auction day?
0:53:02 > 0:53:05My original budget was around £15,000.
0:53:05 > 0:53:08It has gone to about £22,000 at the moment, but I'm happy with that
0:53:08 > 0:53:13because I'm looking at the house as a whole and I know there is a bit of profit in there now.
0:53:13 > 0:53:15For tennis coach Hexa, the only racket now
0:53:15 > 0:53:20is coming from new baby Max, but what are their plans?
0:53:20 > 0:53:23Well, me and Hexa, we have some options open to us.
0:53:23 > 0:53:28One is we move in together, live here while we build the dwelling at the back and maybe move into
0:53:28 > 0:53:31the three-bedroom dwelling. If not, we sell them both,
0:53:31 > 0:53:33move somewhere else and buy another project.
0:53:35 > 0:53:38Time to see what two local estate agents make of the house
0:53:38 > 0:53:40and the potential profit
0:53:40 > 0:53:44if they did manage to build another at the back.
0:53:44 > 0:53:45Super job. They've modernised it.
0:53:45 > 0:53:47It is a 1920s semi.
0:53:47 > 0:53:50Refurbished throughout and presented in good order.
0:53:50 > 0:53:53It is very different to when I came before.
0:53:53 > 0:53:56They've done a really good job,
0:53:56 > 0:53:58opened it all up and it is a very modern pad now.
0:53:58 > 0:54:00It is a very good standard of finish,
0:54:00 > 0:54:03it is magnolia paint throughout, light colours.
0:54:03 > 0:54:05Neutral-coloured carpets.
0:54:05 > 0:54:07Good finish, wouldn't change it. It's great.
0:54:07 > 0:54:12Moving the stairs, initially I would have thought not, but now that I've seen it done,
0:54:12 > 0:54:15it works really well and gives a lot more space.
0:54:15 > 0:54:19This could be a great step on the property ladder for Hexa.
0:54:19 > 0:54:23Remember, she paid £149,500 at auction
0:54:23 > 0:54:28and has spent £22,000 on it, making a total of £171,500.
0:54:28 > 0:54:34So how much is the house now worth and what about a three-bed at
0:54:34 > 0:54:36the back if they get planning permission?
0:54:36 > 0:54:40Should this property come onto the market in today's climate
0:54:40 > 0:54:47without any future development, the current property would be in the region of £175,000.
0:54:47 > 0:54:51Should another property be built, then the value of this one would
0:54:51 > 0:54:55go down slightly to around about the 165 mark. I would guesstimate,
0:54:55 > 0:54:58having seen the plans, that that property would be valued
0:54:58 > 0:55:00in the region of about 190 to 200.
0:55:00 > 0:55:05In my opinion, the property would be worth, as it is, with the garage
0:55:05 > 0:55:07between 175 and 180.
0:55:07 > 0:55:11If the garage were to be lost and the new building built,
0:55:11 > 0:55:17I would suggest 165 to £170,000, and the new property,
0:55:17 > 0:55:20which I believe is going to be a three-bedroom property with a garage
0:55:20 > 0:55:22could be as much as £190,000.
0:55:22 > 0:55:25If they are successful in getting planning permission,
0:55:25 > 0:55:31the combined value of the new-build and this house would be about £350,000.
0:55:31 > 0:55:36That's £184,000 more than they paid, but of course that would be significantly reduced
0:55:36 > 0:55:40with the cost of the new-build and of course, selling expenses.
0:55:40 > 0:55:45But if they don't get planning permission there is only about £4,000 gross profit here.
0:55:45 > 0:55:48We guessed that was the value when we bought it originally.
0:55:48 > 0:55:53We're not going to make a fortune. We thought we'd break even, but now we've got the land,
0:55:53 > 0:55:56it's a lot better. Extra money. Very happy.
0:55:56 > 0:55:59What about the rental here?
0:55:59 > 0:56:04This property, if it were to be rented would achieve around
0:56:04 > 0:56:07750 per calendar month and rent very easily.
0:56:07 > 0:56:12The three-bedroom, when it is built, could be as much as 850, 875 per calendar month.
0:56:12 > 0:56:15This would probably rent out in the region of
0:56:15 > 0:56:17625 per calendar month,
0:56:17 > 0:56:22with the other property renting out probably closer to 725.
0:56:22 > 0:56:24Well, that is actually more than we thought.
0:56:24 > 0:56:27- Originally.- Yeah.
0:56:27 > 0:56:30- Yeah, we thought around £525. - So we have to think again.
0:56:30 > 0:56:33We have to re-think what we're going to do.
0:56:34 > 0:56:38Decisions, decisions, new baby and maybe a new house.
0:56:38 > 0:56:41So are they happy about the way things have turned out?
0:56:41 > 0:56:43Our first development, and it went really well.
0:56:43 > 0:56:45It was hard work for you.
0:56:45 > 0:56:47And you.
0:56:47 > 0:56:49But it is really good.
0:56:49 > 0:56:53Well, teamwork is always a winning formula on Homes Under The Hammer.
0:56:55 > 0:56:57Not enough for you? Well, there's plenty more.
0:56:57 > 0:56:59Join us next time for more Homes Under The Hammer.
0:56:59 > 0:57:01- We will see you then.- Goodbye.
0:57:09 > 0:57:13Subtitles by Red Bee Media Ltd
0:57:13 > 0:57:19E-mail subtitling@bbc.co.uk