Episode 74 Homes Under the Hammer


Episode 74

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Transcript


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Hello! Now, despite the credit crunch,

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people still want to delve into the property market.

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And, if you're prepared to take the plunge, auctions are a great place to start.

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Yes, it can be fast, it can be frantic,

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but, you know what, you can get yourself a bargain buying your home under the hammer!

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Now, some lots are very popular at auction, others go unsold.

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And the auction room can be a very difficult place to conquer.

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So, what won the hearts of today's buyers? Let's find out.

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This Cardiff house has seen better days, but I've spotted something very interesting.

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It all looks a bit tired and dated. I think the interesting stuff's back there, though.

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In the seaside town of Broadstairs, this semi might be about to come out.

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I've got the feeling that this should be an outdoor area, not really an indoor area.

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And there are three floors in need of attention at this Devon property,

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but don't be put off - the work could be quite entertaining.

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I think you could have great fun down here.

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All these properties went to auction. We'll find out who bought them and what they paid for them

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when they went under the hammer.

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It's yours, sir. Thank you.

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I'm in Cardiff, the capital of Wales.

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It's seen a great deal of regeneration in recent years.

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There's some striking architecture popping up around the city,

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but I'm off to the suburbs to see something more residential.

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Well, just ten minutes' walk from Cardiff city centre,

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you find yourself in Splott, an area known for its slightly more affordable houses,

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very popular with first-time buyers, therefore.

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I'm here to see a three-bed mid-terrace at a guide price of £79,000.

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Let's take a look inside and see why you might want to snap it up.

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Now, I can't imagine there are too many surprises in store with this kind of property,

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but you never know! Certainly, the layout is fairly standard.

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Through the front door, you've got a corridor, front sitting room there.

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Nice that you've got open fires, we like that, and it comes with a free piano!

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Don't forget that when you buy a property, on completion, whatever's left here is yours,

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so that's good news. The rear of the property, a kind of rear living room area again with an open fire.

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So that's good. It all looks a bit tired and dated.

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I think the interesting stuff's back there, though.

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A bit of useful space under the stairs there,

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and then through into the kitchen, as you can see, in a bit of a state.

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Slightly lacking in things like kitchen cabinets.

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Still, we've got a sink, so what more do you need?

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An open fire. We quite like that,

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but clearly you're going to have to play around with this quite considerably.

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Through there, fairly traditional layout.

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You've got your loo and your bathroom. Again not ideal,

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and you'll want to look at the costing of moving that upstairs.

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But I think I'm going to get a better flavour of this property by going out the back.

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You get there through this lean-to which is definitely on its last legs.

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The property went under the hammer guided at £79,000.

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It is deceptively large, but I suspect the interior wouldn't be to most people's taste,

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not in this state anyway. And the exterior is no better either.

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Quite an interesting sort of bit of space here. You've got all these outbuildings.

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I daresay that's an outdoor loo or something.

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But it's not until you come out here that you really see the kind of state that the property's in.

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Look at the roof, look at the fact you've got cracks in the rendering there,

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and from here it just looks horrendous.

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Suddenly, I've added around, what, £10,000 on the renovation budget?

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It leaves a rather sour taste in the mouth,

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and just goes to show that it's always worth giving properties a thorough going-over

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before you think about buying them.

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Deterioration apart, what else is on offer?

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So, upstairs, three bedrooms, and I guess this is one of them.

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But to my mind this is just crying out to be the bathroom.

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So the key thing to know is can you change the layout up here to still retain three bedrooms?

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Well, let me investigate.

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I reckon you might be able to.

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Perhaps all you need to do is divide the front bedroom, which is a pretty good size, into two,

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taking the total back up to three, as the second bedroom will be turned into a bathroom.

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So I think you could end up with, well, basically, three really decent-sized rooms

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and that bathroom upstairs, so problem solved.

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Before that, though, there's a lot of work to be done.

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I mean, the ceilings need to be taken down. My guess is they're lath and plaster

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so you'd want plasterboard, the electrics need doing,

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and I've just noticed something slightly more sinister...

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Look at this. This isn't just random dust!

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That...is what happens when you have woodworm,

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and when they've chewed through the wood, they turn it into this fine dust.

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That indicates to me that they're also still very active.

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In fact, if you listen very carefully...

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-CHOMPING

-..You can hear them chewing.

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-BURP!

-Pardon you!

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# Yummy, yummy, yummy, I've got love in my tummy... #

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So the house has got woodworm and rendering problems.

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It's going to need rewiring and trains thunder past the back fence.

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Let's hope that at least the piano's in tune!

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We invited along a local estate agent

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to see if there's anything else he'd add to the list

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of things to be done.

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The roof at the present time is the original roof

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where numerous plates have slipped, water has come into the property,

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there's water staining to the ceilings which has caused more damage

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and, in fact, there's even tree roots,

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young tree roots in the gutters growing, so it does need a complete overhaul and new roof.

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The good thing about this property is its size. You've got good proportions and there's a good garden as well,

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so if the prospective buyer does wish to extend, there's scope there as well.

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The property went to auction guided at £79,000, but how much could it be worse with some TLC lavished on it?

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In my opinion, this property in its current layout, fully modernised,

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bearing in mind it does need an awful lot of expenditure, would reach £140,000.

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What about renting? Is that an option and how much income could it generate?

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In my opinion, this particular property in its current state,

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fully renovated, would achieve a rental figure of £600 per calendar month as a family unit.

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However, if let on individual rooms, it would achieve £1,000 per calendar month.

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So, intrinsically, a good place in a popular area.

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Needs some work and you have got those uninvited guests to deal with,

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but who fancied the challenge when it went to auction?

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Now we go on to lot number 2,

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which is a mid-terraced house for refurbishment, two reception rooms

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and three bedrooms, as you can see.

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Tell you what, I'm going to start straightaway on my reserve. I have a proxy bidder

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and I'm putting it straight in the market. At £85,000 I'm bid.

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At 85. Up to 8, anybody? 6, then. 86, thank you. 7 for my proxy bid.

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87. Come 8. 88. My proxy bid will go 90.

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At £90,000, try one more, then, in the back.

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Thank you. At 91 I'm bid. 2 for my proxy bid. You're still out, I'm afraid. Proxy bid is in.

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At 92. 93, thank you. 94 for my proxy bid.

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You're out, sir? 5, can I? 95, I'm bid. 6 for my proxy. At 96...

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97- 98 for the proxy. 9. 100 for my proxy bid.

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At 101. 101 I'm bid there. My proxy bidder is out.

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At £101,000. And I am selling all the time. My proxy bidder has finished.

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At £101,000, it's yours, sir, thank you.

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And the final successful bid of £101,000 was made by Kim.

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He's an experienced property developer with a portfolio of around 100 properties,

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and he's no stranger to Homes Under the Hammer!

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We met him before

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when he renovated another house in Wales.

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You might recall that it was in a terrible state,

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so Kim obviously doesn't mind hard work.

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I caught up with him at his latest purchase to hear about his plans for it

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and what he's been getting up to since we last met.

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-Kim, lovely to see you again!

-Hi, Martin. Nice to meet you again.

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-Now, it's been a few years, hasn't it?

-Yeah, five, I think, is it?

-Five.

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-And we met at some really decrepit old property.

-Yes, Penrhiwceiber.

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-So that all got sorted out, did it?

-Yeah, all finished,

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I still own the property, and there's a lady there...

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She's been there for the five years. As soon as I finished it, she moved in and she's still there now.

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-So what's happened since we last saw you?

-Er...

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still doing exactly the same thing, doing the building, the developing and whatever.

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Sort of added to the portfolio a little bit and here we are with this one again.

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So here we are. Why have you bought this one?

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Good location, Cardiff. I mean, Splott, it'll rent easily, and it would sell easily,

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-if I wanted to.

-In terms of its internal layout and just the general state of it,

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that was important or was it more the location?

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It was the location. I didn't actually come into the property, I drove past it.

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-You didn't see inside?

-No, I didn't come in. No, I know,

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but I wouldn't advise probably a lot of people to do that,

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but again because of my background with the construction,

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it doesn't matter really what we find inside. As long as the structure is good,

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then we can do the rest no problem at all.

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I knew it was going to be in a state. You don't buy something

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in Cardiff for £101,000 unless you're going to have to do some work to it,

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so, you know, it's just the same old thing to me. We'll just sort of go right through the property

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and bring it right back to life, so it's no problem.

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Kim trusted his instincts and knew what to expect from the property.

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He's broken one of the basic rules of buying at auction,

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but the state of the place hasn't come as too much of a shock to him.

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-So what exactly are you going to do to sort this place out?

-Basically everything.

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I mean, it needs a full revamp from a new roof outside to rerendering the rear of the property,

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new windows, back and front door, render right through, skirtings, doors, kitchen, bathroom...

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you know, everything that you need to do to the house, really,

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so then, when it's done, it'll be done for good.

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What kind of cost for doing that?

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With the roof and the scaffolding and obviously the render outside and everything that's got to be done,

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I would put it in the region of between £25,000 and £30,000.

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-Is that costing in your time, your labour time?

-Yeah, everything that would be, yes.

-Right.

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-But that gets it sparkling?

-Yes.

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Kim's got a regular team of builders who will get stuck into the job.

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They aims to complete in about 6-8 weeks.

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That's a pretty optimistically tight schedule, I'd say, especially as he's got to add a new roof.

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So what about the woodworm upstairs?

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-Because that's quite... You can almost hear them!

-Yeah, buzzing around, aren't they?

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Again, you know, we do this all the time.

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I'll get a specialist in to look at it, and we'll spray everything so that all the joists are done.

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If there's any joists that are too badly infected, we'll take those out and treat the new joists,

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and again with the floorboards, a lot of those will have to be changed,

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because there is a lot of woodworm in them, but some of it will stay because we'll have it treated,

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and there'll be a guarantee with that, so it isn't really a major problem, so it's fine.

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So what next for you?

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Just more of this, really, I suppose.

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I mean, that's what I do, isn't it? I've just bought a pub as well...

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-A pub?

-Yeah, yeah, I know. Yeah, yeah. That's a long story, but yeah, it's in the local village,

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and it came up for sale as a freehold.

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I bought it and we've renovated that at the moment and it's going well.

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-I'm getting married in a couple of months' time to Jackie.

-Congratulations!

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Thank you very much. She's gorgeous and, er...yeah. So couple of months, here we go!

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-We'll come back in a few months and see how you've got on.

-That's good.

-Look forward to it.

-Cheers.

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So Kim adding to his portfolio with this property

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and he clearly knows exactly what he's doing with this place.

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Healthy budget, tight timescales, though,

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and doesn't he have a few more important things to worry about in the coming months?

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You can find out how he gets on later in the show.

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MUSIC: "I Do Like To be Beside The Seaside"

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If you do like to be beside the seaside, then it may be worth paying a visit to Broadstairs in Kent.

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The town developed as a Victorian seaside resort and has changed very little in the last 50 years or so.

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There are buckets of Kentish character and charm here,

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so can we detect a bargain hidden in the sand?

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About a mile from the sea and suddenly we're in the suburbs,

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surrounded by 1930s semis.

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Now, it's not a bad spot and I love this old-fashioned cul-de-sac here. It's very practical.

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The property I'm here to see today is this.

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It's got two bedrooms and a guide of £100,000-£110,000.

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And it'll come as no surprise that it's in need of modernisation.

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You'd be surprised if it was any other way.

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It's desirable to have off-street parking, but the tatty gutters are less pleasing.

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They suggest the inside may also be a little rough around the edges.

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OK. So, yes, it does need a bit of doing-up,

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but do you know what? It's not that bad. I've certainly seen worse.

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You've got a lovely big window here letting lots of natural light in, which is fantastic.

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They've double-glazed. You can see there's been some central heating recently installed,

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and somebody's taken the time to knock through here to create one big, open through room which I love!

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You know, there's a lot of space in here.

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Now, through here...

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call me stupid, but it just looks like somebody has covered over an outdoor patio...

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Bit of a strange one. I think that is exactly what they've done.

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But you have got some beautiful flowers over here. They smell amazing,

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but, really, I've got the feeling that this should be an outdoor area, not really an indoor area.

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Let's see what's round here.

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# In and out, and in and out... #

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Inside, outside, then inside again.

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Interestingly, another little lean-to, but do you know what?

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It feels as though in the wind this would just collapse. Not quite sure about that.

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Also here, it looks as though the flat roof is having a few problems, a bit of water damage.

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I'd definitely recommend getting someone to come and have a look at that.

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But, you know, I've come in the back way. This would obviously be quite a nice breakfast area,

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you could put a table and chairs here, you've got a very, very long thin galley kitchen.

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Not the best, it needs refurbishing, but you have got some good space to work with, so, not bad.

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At the moment it feels like the house is sliced in two, right down the middle.

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You could save on gym membership and just do laps around the ground floor!

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# In and out

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# Inside, outside Leave me alone... #

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Upstairs is a much more standard layout.

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There are only two bedrooms, but the one at the front is huge, spanning the whole width of the house.

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The second one at the back is smaller but still a good double.

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The bathroom suite looks fine, although the new owner could perhaps change the tiles.

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But, upstairs, this house that went to auction guided at £100,000-£110,000

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doesn't need much work. It's downstairs that the challenges are lurking.

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So you've got rid of these dodgy old things, so what now?

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Build a nice brand-spanking-new conservatory, extend out the back with a proper brick structure maybe?

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Well, I'm not sure. Because with those gone, look at all the lovely garden you'll be gaining.

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And with only two bedrooms upstairs, do you need that extra living space?

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As always, it comes down to cost. If you think you can make the money back on a super sunroom,

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then go for it! But if you're looking for a quick turnaround here with minimal spend,

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you know, I don't think it's worth it.

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I reckon it was once a well-stocked garden with this big fishpond,

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but it's going to need a lot of time spent on it to get the best out of it now.

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What does the local estate agent think

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about the prospects for this property

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just a mile from the seafront?

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# Do you want to go to the seaside?

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# I'm not trying to say that everybody wants to go... #

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Broadstairs is a very popular town.

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It has beautiful beaches, excellent shops...

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This area is popular for families, people relocating from out of the area.

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There is certainly a ceiling for what I feel this property would achieve as a resale.

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So I think the clients need to modernise the property with a very strict budget.

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The property went to auction guided at £100,000-£110,000,

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but how much could it be worth after some refurbishment work's been done?

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The maximum I feel this property would be worth is £135,000.

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What's the rental potential here? How much could it generate?

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The property would rent very well,

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and I would achieve a rental figure on this property of £600 per calendar month.

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So there's work to be done, but that means there's also value to be added,

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which is what you should always be looking for.

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But I don't think there's a fortune in this and you don't want to overspend,

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or you'll be in danger of having the most expensive house on the street.

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Let's find out who went for it at the auction.

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Lot 87, this is Broadstairs,

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two-bedroom semi in a good location. It's a nice-looking house,

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gas central heating, double glazing.

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Start me where you will. Can I see £100,000 for it?

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£95,000. I'm obliged. I should think so, in Broadstairs. £95,000 I've got.

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And 100, now, do I see? 100 in the front row I've got.

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And 5. 105? 105. And 10? 100?

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At £105,000 I've got, 110 I want.

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Are we all done at £105,000? I'll take 8 if you like. 107?

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106 you're saying?

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106. And 7, 107.

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107. And 8. 108.

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109 now if you like. £108,000 I'm bid.

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109 I'm looking for.

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We're all done at £108,000. I'm selling at 108 for the first time.

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£108,000 bid for the second time. Third and final time.

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It's with you in the front row. It's against you at the back there.

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All done at £108,000.

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A house in Broadstairs for 108. Amazing!

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The successful bidders who paid £108,000 were mother-and-son team Val and Brad.

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# Mama said there'll be days like this

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# There'll be days like this Mama said... #

0:19:160:19:19

They bought this two-bedroom semi in Broadstairs.

0:19:190:19:22

I met up with them back there to find out why they were playing the Generation Game.

0:19:220:19:26

-Guys, congratulations.

-Thank you.

-Thank you.

-Well done.

0:19:270:19:31

-Why have you bought this? Have you bought this together?

-Yes.

-I'm the hired labour, really.

0:19:310:19:36

Well, hired labour, yes. I financed it, you know, to give my son a chance.

0:19:360:19:42

So, Brad, what is the plan and where are you going to move forward with this?

0:19:420:19:46

Do it up as quick as possible, get some good friends on line in the trade,

0:19:460:19:49

get it back on the market, go for another one.

0:19:490:19:52

-So up until now what have you been doing?

-Motor trade mainly from when I left school,

0:19:520:19:55

right up until last year. But made redundant. Mum got the idea from your show.

0:19:550:20:00

So we thought...let's have a go.

0:20:000:20:03

Well, I'm not sure this property will get Brad motoring into the developers' fast lane,

0:20:030:20:07

but it is a great one to start with. Brad's separated with two children,

0:20:070:20:13

and has currently moved back in with his mum after his dad sadly passed away.

0:20:130:20:18

He's a keen handyman so that'll definitely help keep the costs down.

0:20:190:20:23

Why did they choose this place?

0:20:230:20:26

When you saw the property for the first time, what potential could you both see?

0:20:260:20:31

Nice family home. Look through the bits and pieces, the extra buildings out the back

0:20:310:20:36

and just see a nice family home for someone. Rip it out, make it nice.

0:20:360:20:39

So what about the room with the flat roof and the hole in it? What are you going to do with that?

0:20:390:20:43

That's going to be a dining room, going to have a new roof put on and some French doors at the end.

0:20:430:20:48

Just carpet it as a walk-through out to the garden and keep this as one big nice open living room.

0:20:480:20:53

-What are you going to do with that lean-to?

-Demolish it. It looks like Jack built it,

0:20:530:20:57

so I think we're going to get rid of that and make it an open space.

0:20:570:21:00

Well, hire one of those jet washers and the patio could scrub up beautifully,

0:21:000:21:04

and it could pave the way to a successful renovation here.

0:21:040:21:09

What sort of budget do you intend spending here?

0:21:090:21:12

We estimated about £10,000, although we've had some very good bargains...

0:21:120:21:17

we've picked up some very good, you know, things along the way.

0:21:170:21:20

We're going to keep a few thousand back just in case,

0:21:200:21:24

-but hopefully 10.

-So you know you're going to have to be very wise with your spending.

-Mmm.

0:21:240:21:29

So what sort of bargains have you got, then, Val?

0:21:290:21:32

Well, we've got a very good kitchen, we've got a beautiful bathroom,

0:21:320:21:37

which we got a lovely discount on,

0:21:370:21:40

almost half the price of what they're showing up in the big DIY stores.

0:21:400:21:46

-Got to say, your mum's the one to know! She's done very well.

-A very good businesswoman, I tell you.

0:21:460:21:51

-You have got a lot to live up to!

-Absolutely! I learn every day with her.

0:21:510:21:55

The pair have given themselves three months to complete the refurbishment.

0:21:560:22:00

Brad's friends are going to lend a hand, but what about Mum?

0:22:000:22:03

Is she going to help?

0:22:030:22:05

I'm going to get involved physically, rubber gloves, decorating, garden...

0:22:050:22:10

and as much as I can. I'll probably be the hod carrier.

0:22:100:22:14

Hard labour! But Val's pretty used to that.

0:22:140:22:17

She's certainly not short of business knowledge!

0:22:170:22:19

I've owned shops, newsagents, top-of-the-range fashion, done hairdressing...

0:22:210:22:26

had an antique shop.

0:22:260:22:28

My latest was a dog-groomer which I did very successfully for nearly 15 years,

0:22:280:22:34

-and I retired at 65...

-What?

-And I think I deserved it.

0:22:340:22:38

-So you've retired but now you're back on it again?

-Yes.

-Here we go!

0:22:380:22:41

-I can't keep still.

-Job number 50!

-Yeah, something like that.

0:22:410:22:44

# Mama said there'll be days like this

0:22:440:22:47

# There'll be days like this Mama said... #

0:22:470:22:50

For all her experience, Val's never done anything like this before.

0:22:500:22:55

-So, Brad, you must be happy that your mum's on board to help out?

-Oh, yes!

0:22:550:22:58

The one person I can count on, got the level head that probably I haven't at the moment.

0:22:580:23:02

-And, Val, you obviously are quite supportive and you think he can do it?

-Oh, I'm sure he can do it.

0:23:020:23:07

I wouldn't support him financially if I didn't!

0:23:070:23:09

-I'm really glad to see that you're both going to get stuck in. Do you guys get on?

-Yes, fine.

-Very well.

0:23:090:23:15

-Yes, very well. Only son, you see.

-I've got to look after Mum!

0:23:150:23:19

-You know, I like that! You look after your mum and Mum looks after son!

-Oh, yes!

0:23:190:23:24

-Good luck, guys. It's been so nice to meet you and I can't wait to see that new kitchen.

-Thank you.

0:23:240:23:30

# There'll be days like this Mama said... #

0:23:300:23:34

So from cars and dog-grooming to DIY and doing up houses.

0:23:340:23:39

I think this mother-and-son team have got a great first project to whet their property appetite,

0:23:390:23:44

but, you know, it's crucial that Val continues to shop around and Brad puts in some really hard labour.

0:23:440:23:50

Now, will this project be a race winner or are the pair both barking?

0:23:500:23:55

Join us later in the programme and you can find out.

0:23:550:23:58

Coming up. Don't be put off by the condition of this Devon property,

0:23:590:24:02

because lots of features have been covered up.

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And overall the place is oozing character straight off.

0:24:040:24:08

We return to Broadstairs where Brad's let his mate get on with it.

0:24:100:24:14

I left him to it. I just said, "That's yours, you do what you like with that."

0:24:150:24:19

But first it's back to Cardiff where Kim's been in control.

0:24:200:24:24

Because I do quite a lot of this type of thing, I've got a good feel for how much things are going to cost.

0:24:240:24:28

Earlier in the programme, local builder-developer Kim bought this mid-terrace in the Cardiff suburb

0:24:310:24:37

of Splott for £101,000. It was to add to his impressive buy-to-let portfolio,

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which exceeds 100 properties.

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The house had woodworm, a leaking roof and needed a full refurbishment.

0:24:480:24:53

Kim was about to get married and is also a pub landlord.

0:24:530:24:57

So he was going to be busy!

0:24:570:24:59

Three-and-a-half months after our first visit,

0:24:590:25:01

we returned to see what had happened to this auction lot in Splott.

0:25:010:25:05

Kim and his team have installed new windows and replaced the roof.

0:25:060:25:10

Inside, the two downstairs living rooms remain.

0:25:130:25:17

Kim decided against knocking through to open it up into one large living space,

0:25:180:25:23

so that he could potentially use one of the downstairs rooms as another bedroom.

0:25:230:25:27

But the kitchen's been refitted and everywhere's been replastered.

0:25:270:25:32

The wooden floors on the ground floor are now concrete,

0:25:320:25:35

but the first question has to be, how did the wedding go?

0:25:350:25:39

It was fantastic. I've just come back from Crete on my honeymoon which was lovely.

0:25:390:25:43

I'd two weeks there. So we're very happy at the moment, all good. Thank you.

0:25:430:25:47

Many congratulations! But what about the house and those uninvited guests?

0:25:470:25:52

Yeah, it wasn't a big problem, really. The woodworm was mainly confined to the first floor,

0:25:520:25:58

a little bit of woodworm in the joists, but nothing that we couldn't sort of treat,

0:25:580:26:02

so we had a specialist company in to treat the floors,

0:26:020:26:04

and basically that's cured the problem so we're all free from the woodworm.

0:26:040:26:08

Apart from the woodwork, the three upstairs bedrooms have been totally refurbished.

0:26:090:26:15

There's new wiring, new windows and it's all been replastered.

0:26:160:26:21

With the outbuildings all demolished you can now appreciate how much land there is here.

0:26:270:26:32

We've rerendered everything, done all the roof, new fascias, new gutters,

0:26:360:26:42

generally a complete overall of the outside, new windows, uPVC, and basically that's it.

0:26:420:26:48

It's watertight and nice-looking, I hope.

0:26:480:26:51

Kim's a very successful developer.

0:26:510:26:53

You don't manage a portfolio of over 100 buy-to-lets if you don't know your onions.

0:26:530:26:59

Most of the properties that I do, I rent them out,

0:26:590:27:02

and I'm going to again on this one. I've got the local authority involved with us,

0:27:020:27:07

because I've had dealings with them before,

0:27:070:27:09

and explained I was doing this property and they came to see it,

0:27:090:27:12

and, hopefully, they'll have some tenants to come in in the next few weeks.

0:27:120:27:15

From past experience, Kim knows that if he lets to a local authority

0:27:150:27:20

they often have more stringent requirements than he might encounter in the private sector.

0:27:200:27:25

He's going to box in the boiler and, to comply with the regulations, all the doors have to be fire doors,

0:27:250:27:31

and the bathroom and loo need to be redesigned.

0:27:310:27:35

Well, I've split this into two toilets,

0:27:350:27:38

because the local authority wanted me to actually put two toilets in. It's one of their specifications.

0:27:380:27:44

So that's why we've got the two toilets. We try and please...

0:27:440:27:47

That's what they wanted, so there they are.

0:27:470:27:49

So the bathroom stayed downstairs and the three bedrooms upstairs have not had to change.

0:27:500:27:56

Apart from his property company, he also runs a building business,

0:27:580:28:02

so from start to finish he's used his own tradesmen. How much did it all cost?

0:28:020:28:07

Remember he budgeted between £25,000 and £30,000,

0:28:070:28:11

which was to include his time and the labour costs.

0:28:110:28:14

Because I do quite a lot of this type of thing, I've got a good feel for how much things are going to cost.

0:28:140:28:19

And we've gone right through the property, so, yeah, we were inside the £30,000...

0:28:190:28:23

exact figures, I wouldn't know, but it was between 25,000 and 30,000 completely finished as it is now.

0:28:230:28:29

Time now to see what two local property experts

0:28:320:28:35

make of this mid-terrace that's been added to Kim's impressive collection.

0:28:350:28:40

The quality of work is good, the standard is good.

0:28:400:28:43

They've done a full renovation project on the property

0:28:430:28:47

and I have to say I'm quite impressed.

0:28:470:28:49

It's transformed, it's bright, cheerful,

0:28:490:28:51

everything's been done which is essential.

0:28:510:28:54

The arrangements for the bathroom, obviously there's a reason for that,

0:28:540:28:59

which is it's not the conventional nothing house.

0:28:590:29:02

The bathroom is done to a good standard.

0:29:020:29:04

Obviously, they've opted for a shower cubicle and two separate toilets.

0:29:040:29:08

That's obviously not a great selling point if the property was being sold to a first-time buyer,

0:29:080:29:12

but it certainly meets the necessary requirements for a rental option.

0:29:120:29:16

Now the work's finished, how much is the property worth?

0:29:160:29:20

Remember, Kim paid £79,000 at the auction and has kept his budget between 25,000 and 30,000.

0:29:200:29:26

So, assuming he spends £30,000 on it, is it worth more than his total outlay of £109,000?

0:29:260:29:33

In my opinion, the resale value of this property in its present condition is £145,000.

0:29:330:29:40

I think the resale value would be certainly around £145,000.

0:29:400:29:45

So they both agreed it would generate a gross profit of £36,000 before tax and selling expenses.

0:29:460:29:52

Is Kim happy?

0:29:520:29:54

Yeah, I think that's about the mark. £145,000, £150,000, that's what I thought at the beginning,

0:29:540:30:00

so we're happy, no problem at all.

0:30:000:30:01

Kim's confident that the local authority will take the house,

0:30:010:30:05

but how much rental income could it generate either as a house or multiple occupancy

0:30:050:30:11

or if let out to one family as Kim would prefer?

0:30:110:30:15

From a rental perspective, you've got two avenues here,

0:30:150:30:18

You're either looking at four lets in which case the standard charge is £250 per room,

0:30:180:30:24

£1,000 per calendar month.

0:30:240:30:26

Alternatively, the single tenancy arrangement which is more towards the first-time buyer

0:30:260:30:31

or small family would then be in the region of £750 per calendar month.

0:30:310:30:36

As a family home, this property would rent in the region of £550 per calendar month.

0:30:360:30:41

With the local authority taking the property, I would have thought it would be minimum 750,

0:30:410:30:47

but, you know, I'd be happy with 750 anyway, so anything else is a bonus.

0:30:470:30:50

The multiple occupancy, the four times the 250 then, is something I hadn't really looked at.

0:30:500:30:57

I think I've done the deal already with the council, so I'll go with them anyway,

0:30:570:31:00

so more than happy with that.

0:31:000:31:02

I'm in Devon on the picturesque Bere peninsula.

0:31:100:31:14

As well as the beautiful scenery, this area was once known for growing fruit and flowers,

0:31:140:31:19

so trains to London would stop here to pick up the local produce.

0:31:190:31:25

Today it's still pretty and peaceful

0:31:250:31:27

and only a short hop from city life in Plymouth.

0:31:270:31:30

I'm in the village of Bere Alston near the picturesque Tamar Valley Railway Line

0:31:320:31:38

which goes from Penzance to Plymouth with coastline at both ends.

0:31:380:31:42

The property I'm here to see is a three-bedroomed end of terrace, at a guide price of £70,000.

0:31:420:31:49

The question is, will it be full steam ahead as a property investment opportunity?

0:31:490:31:53

# First train home I've got to get on it

0:31:530:31:56

# First train home I've got to get on it

0:31:560:31:59

# First train home I've got to get on it... #

0:31:590:32:02

The house has three storeys. It was built in the mid-19th century.

0:32:020:32:07

It does look a touch shabby and could do with a paint job,

0:32:070:32:11

but judging by those windows there may be some period charm here.

0:32:110:32:15

Well, what's on offer? Let's find out.

0:32:170:32:20

Straightaway, look at the state of this electrical gubbins!

0:32:200:32:24

Very old. That says to me straightaway you're going to have to factor in a rewire of this property

0:32:240:32:30

before you do anything else. Must be in your budget that, for sure.

0:32:300:32:33

But good-sized lounge, we like that. Not so keen on the fireplace,

0:32:330:32:37

but judging by the depth of the fire breast,

0:32:370:32:39

I reckon there's a really nice fireplace hidden underneath there, so sort that out.

0:32:390:32:43

In fact the whole house straightaway is saying to me,

0:32:430:32:46

"Strip back stuff to reveal the beauty of this property,"

0:32:460:32:49

because it's certainly got loads of character! Little cupboards, we like that.

0:32:490:32:53

And then through, down the corridor into the kitchen, and straightaway, love that, a wood-burning stove,

0:32:530:32:59

looks like a really old one as well. Very nice, heavy, cast-iron...

0:32:590:33:05

Imagine that burning away on a winter's evening, it would give a lovely feel to this kitchen.

0:33:050:33:09

I also love the beams, I like the fact you've got floorboards revealed.

0:33:090:33:13

This really has a lovely feel to it. Now the units in here are not bad, they're very serviceable.

0:33:130:33:17

They don't quite work for me. I'd like to see sort of Shaker style, something that matched that,

0:33:170:33:22

but it's not bad-sized space, and overall the place is oozing character straight off.

0:33:220:33:28

There's certainly a fair amount of space,

0:33:290:33:32

and under all that paint I reckon there's some real hidden beauty.

0:33:320:33:36

Those period pane windows are crying out for a restoration job,

0:33:360:33:41

and I'd love to take a sledgehammer to that fireplace to see what's behind it.

0:33:410:33:45

All good so far. Let's see what's upstairs.

0:33:460:33:50

Well, up here, three good-sized double bedrooms,

0:33:530:33:55

actually disproportionately large compared to the frontage of the property,

0:33:550:33:59

which leads me to think maybe this was more than one property in the past

0:33:590:34:02

that's possibly been knocked through into one.

0:34:020:34:04

But up here also there is the bathroom and the loo. I don't know if you can see that,

0:34:040:34:08

but look at the floor. It is sloping all over the place! It's also very small.

0:34:080:34:12

So I'd think about maybe taking some space out of one of the bedrooms to make a much bigger bathroom.

0:34:120:34:17

Apart from that, I like this little house.

0:34:170:34:21

Actually, it's not that small at all.

0:34:220:34:25

For the price it's really very spacious, and that's not all.

0:34:250:34:29

Remember I said it's on three floors? Well, there's an added bonus.

0:34:290:34:32

Not up in a loft, but down two flights of stairs.

0:34:320:34:37

Now, here's a real surprise and a big bonus for the property as far as I'm concerned.

0:34:400:34:44

There is a lower ground floor.

0:34:440:34:46

Doesn't look like it's actually been used very much in its previous life, I don't think...

0:34:460:34:51

possibly a utility room, there's a few bits and pieces there from washing machines and stuff.

0:34:510:34:55

But I think you could have great fun down here.

0:34:550:34:57

It's got reasonable size, it's got your beamed ceilings, there's a separate loo, which is good,

0:34:570:35:03

and, most importantly, it's got its own entrance there,

0:35:030:35:06

so maybe you could think about even splitting the house up,

0:35:060:35:10

and creating a separate kind of flat here or maybe a maisonette, this room and the room upstairs.

0:35:100:35:15

I mean, it's a big change to the way the property is, but I don't know... it's something worth considering.

0:35:150:35:20

Another quirk of this house is the flying freehold,

0:35:240:35:28

as upstairs the master bedroom overlaps the neighbours' front door.

0:35:280:35:32

This could make mortgaging it difficult, mainly due to legal complications

0:35:320:35:36

over sharing the upkeep of the shared part of the house.

0:35:360:35:40

However, it's not a huge area, so fingers crossed that whoever bought this place

0:35:410:35:46

will manage to get the finance.

0:35:460:35:47

I met up with the auctioneer who sold the property

0:35:470:35:50

to hear his thoughts on the place.

0:35:500:35:52

The versatility of the property is what I really like.

0:35:560:35:59

There's a maisonette to be had on the top two floors

0:35:590:36:03

and a little basement studio flat underneath.

0:36:030:36:05

I'm not sure you'd be allowed to actually split them

0:36:050:36:08

and sell them separately,

0:36:080:36:09

but you could certainly live very happily upstairs and rent downstairs out for extra income.

0:36:090:36:14

The downside to the property is that's no actual parking,

0:36:140:36:19

although, the front garden, you might be able to get yourself an off-street bay there,

0:36:190:36:24

although, actually, parking's never going to be a major issue on street in Bere Alston.

0:36:240:36:29

So, after all the work's done, how much could it be rented out for?

0:36:300:36:34

As a full-blown three-storey house, you're probably looking at the better part of £600 per calendar month.

0:36:340:36:40

But if you split it into a maisonette and a studio and rented them out,

0:36:400:36:45

you're probably looking at 500 for the house or the maisonette, the upper floors,

0:36:450:36:50

and probably still the better part of £400 for the studio on the lower floor.

0:36:500:36:55

And if sold on, bearing in mind that guide price of 70,000?

0:36:560:37:00

When the house is all singing and dancing,

0:37:000:37:03

I expect it to be worth around £160,000, £170,000 if you're lucky.

0:37:030:37:09

Well, there you go, a nice little property with lots of options, actually.

0:37:110:37:15

I mean, you could consider this as a separate flat.

0:37:150:37:17

The rest of the house, though, you've got the wood-burning stove,

0:37:170:37:20

you've got that lounge with that fireplace...

0:37:200:37:22

I'm desperate to know what behind that horrible thing that's in there right now.

0:37:220:37:25

Bedroom, though, dual aspect, you can't go wrong.

0:37:250:37:29

The only issues that might put people off are the flying freehold

0:37:290:37:32

and of course the bathroom with that terrible slant.

0:37:320:37:34

Still at £70,000 as a guide price, I'm sure it got them buzzing when it went under the hammer.

0:37:340:37:41

It's a big old lump of a house.

0:37:450:37:47

And Bere Alston underappreciated I've always thought.

0:37:470:37:50

Commutable and all that to Tavy or Plymouth.

0:37:500:37:54

Who's going to say...? Well, it's got to be the guide. 70? 70 straight in.

0:37:540:37:58

At 70, I've got at 70. 71? 71.

0:37:580:38:02

72. 73.

0:38:020:38:05

It's here against you at 73. 74.

0:38:050:38:09

75. 75, front row, then.

0:38:090:38:12

At 75 once...

0:38:120:38:15

at 75 twice...

0:38:150:38:17

76...right at the back. 76.

0:38:170:38:21

77.

0:38:210:38:23

78. Would a half help you?

0:38:230:38:26

78,500. And the same, 79.

0:38:260:38:29

At 79. 79,500.

0:38:290:38:32

80. 80,500.

0:38:320:38:35

81. At 81.

0:38:350:38:36

At 81. 81,500.

0:38:360:38:39

82?

0:38:390:38:40

At 82 once...

0:38:400:38:43

At 82 twice...

0:38:430:38:45

Getting serious now, third and last time.

0:38:450:38:47

Back stood has it at 82. Here we go at 82 and selling at that.

0:38:470:38:52

Right at the back. Sir, could you give a little wave?

0:38:530:38:56

The successful bidder at £82,000 was Bevil.

0:38:560:38:59

He and his wife Helena married recently and this is going to be their new home.

0:38:590:39:05

Bevil drives a digger and Helena works in a jewellery shop,

0:39:050:39:09

so let's hope that together they've unearthed a real gem with this place!

0:39:090:39:14

Bevil, Helena, it's lovely to meet you both. Congratulations.

0:39:150:39:18

-Thank you.

-Why did you want to buy the house?

0:39:180:39:20

Well, it was purely the price, really. The guide price...

0:39:200:39:24

-It can't just have been the price!

-Yeah, pretty much.

0:39:240:39:27

If you could have got a two-up two-down terrace in Derby

0:39:270:39:29

-at the same price, you wouldn't have bought it?

-No, no.

0:39:290:39:31

It is also the fact that we thought we were...we were going to try and buy some land with it as well,

0:39:310:39:37

-and we were hoping to have the lot because I've got ducks... we've got ducks.

-Yeah.

0:39:370:39:42

So we wanted to have our ducks as well.

0:39:420:39:46

And then... but unfortunately, you know, we didn't manage to get the land,

0:39:460:39:52

but decided to carry on with getting the house anyway because it's so nice inside and big.

0:39:520:39:56

So what's going to happen to the ducks?

0:39:560:39:58

-Er...

-Don't say anything horrible!

0:39:580:40:01

We're not entirely sure yet. Hopefully, somebody will take them off us.

0:40:010:40:04

Or my mum if I can convince her.

0:40:040:40:07

-So you're giving her ducks as a loan?

-That's right, a long-term loan.

0:40:070:40:12

Well, that's a first for me on this programme!

0:40:120:40:15

I hope that this duck tale has a happy ending!

0:40:150:40:18

Their ducks look as though they'll appreciate a new home.

0:40:180:40:22

# White duck, doing what he oughtta... #

0:40:220:40:24

What was it about the house, apart from its lack of duck-friendly facilities, that you liked?

0:40:240:40:29

Well, when we came into the property, we were pleasantly surprised, weren't we?

0:40:290:40:34

You know, it was a lot bigger than we first thought.

0:40:340:40:37

From the outside, it doesn't look that great.

0:40:370:40:40

We like all the old features as well, the beams...

0:40:400:40:44

-And it's three bedrooms as well.

-Three bedrooms...yeah.

-And the basements were good,

0:40:440:40:48

-we've got plenty of space, because we've got lots of junk.

-That's right, lots!

0:40:480:40:51

Well, definitely no storage problems with this house!

0:40:510:40:56

But outside space was always an issue here.

0:40:580:41:01

However the good news is that the flying freehold wasn't an issue for the couple.

0:41:010:41:05

As it affected less than 10% of the property, their mortgage lenders were happy to arrange the finance.

0:41:050:41:11

-Tell me what you're going to do to the house.

-Well, firstly, the kitchen's pretty much OK.

0:41:120:41:18

Change the worktops, obviously, keep the wood burner, because that's got a back-boiler as well,

0:41:180:41:26

-which does the water and heating, which is quite a nice period feature.

-Yeah, it's lovely.

0:41:260:41:31

Plus with the property being so old, it's be nice to keep the beams,

0:41:310:41:35

-and bring them back to wood, strip all the paint.

-Great.

0:41:350:41:39

-Then I think we'll change the bathroom.

-Yeah.

0:41:390:41:42

-Mmm...it's hopeless, the bathroom.

-What are you going to do with that?

0:41:420:41:46

I was toying with the idea of losing part of one of the bedrooms.

0:41:460:41:50

That's probably the best idea here as there's so much space to play with upstairs.

0:41:500:41:55

And with Helena's son also moving in, the house would really benefit from a good-sized family bathroom.

0:41:550:42:02

So what about the cellar? Because that's pretty much an underused sort of room at the moment, isn't it?

0:42:020:42:07

-Well, we were maybe going to use it as a utility room.

-That's right, yeah.

0:42:070:42:11

And also there's a toilet downstairs. We thought you could make it into a little shower room...

0:42:110:42:18

maybe, you know...it's ideas that are flying around really

0:42:180:42:21

-more than anything else, isn't it?

-That's right.

0:42:210:42:24

-Bet the ducks know what they would like it to be!

-They'd like grass put down!

-Yeah, turf it!

0:42:240:42:30

-A little pond.

-A little pond, it would be lovely!

0:42:300:42:33

Helena and Bevil have a healthy budget of around £15,000 to do the work here,

0:42:330:42:39

but how long have they allocated to get it done?

0:42:390:42:42

-We said round about six months.

-Hopefully, six months.

0:42:420:42:46

-But, you know...

-You never know.

0:42:460:42:48

Well, listen, congratulations! Good luck with it all. And we look forward to seeing how you get on.

0:42:480:42:53

OK, thank you.

0:42:530:42:55

Well, a great project for Helena and Bevil to take on.

0:42:550:43:00

It doesn't look like Bevil will need to use his digger on this project, though,

0:43:000:43:03

and I'm a bit concerned whether or not Helena's ducks will have somewhere to live.

0:43:030:43:08

And that £15,000 budget, living in the house?

0:43:080:43:11

It's going to be interesting to see how they get on. You can find out later in the show.

0:43:110:43:16

So did our fearless developers emerge victorious?

0:43:190:43:23

-Or have the floundered in the shallow end?

-Let's find out.

0:43:230:43:27

Earlier in the programme, we were in Kent in beautiful Broadstairs,

0:43:270:43:30

a popular seaside town. This two-bedroomed semidetached about a mile from the beach

0:43:300:43:36

had some very strange outbuildings and was bought for £108,000 by Val and her son Brad.

0:43:360:43:43

After being made redundant from the motor trade, Brad decided to try his hand as a developer.

0:43:430:43:48

He'd contributed some inheritance money and was going to do a lot of the work.

0:43:480:43:52

They've bought this house as their first to renovate and sell on.

0:43:520:43:56

-So Val, the supportive mum, do you think he can do it?

-Oh, I'm sure he can do it.

0:43:560:44:00

I wouldn't support him financially if I didn't!

0:44:000:44:03

It's now three months later and we meet up again with Val and Brad back at the house.

0:44:030:44:08

Now the garden's been cleared and the porch removed, you can finally see the property!

0:44:080:44:13

Inside in the hallway you instantly get the impression that a full-scale refurbishment has been carried out.

0:44:160:44:22

That formerly dark lounge doesn't disappoint

0:44:240:44:26

with its standard developers' sensibly neutral colour scheme.

0:44:260:44:30

In the kitchen, the first of Val's bargain buys looks stunning...

0:44:360:44:40

cheap price but quality product.

0:44:400:44:43

So downstairs is looking great. We'll check out the upstairs in a moment.

0:44:450:44:49

And what happened to those rickety conservatories that were bolted on the back?

0:44:490:44:53

Right, out here we had a lean-to, it was all brick-built with a plastic roof,

0:44:570:45:00

so we took it all out completely, opens it all up really nicely. You can put some chairs and tables.

0:45:000:45:06

Come through here, there was a really old rickety shed.

0:45:060:45:09

Move that, get rid of it, opened it all up as well,

0:45:090:45:12

and again through here there was another lean-to, all glass,

0:45:120:45:17

with some sort of cladding here which we took all off, which I think opens it up nicely,

0:45:170:45:21

and then we landscaped the garden completely.

0:45:210:45:23

As you can see it's opened it up from what it was, a jungle, really!

0:45:230:45:27

# Jungle love It's driving me mad... #

0:45:270:45:31

Well, it's not a jungle any more, but there's possibly a bit too much paving and gravel.

0:45:310:45:36

I'd prefer more greenery and some turf myself.

0:45:360:45:39

We've seen Val's bargain kitchen purchase,

0:45:400:45:43

and upstairs the new bathroom is equally impressive.

0:45:430:45:47

The bathroom was totally ripped out, bare bricks,

0:45:470:45:51

replastered, new tiles, new bath, new sink, new toilet, and I think it looks quite nice.

0:45:510:45:58

I'm happy and I think whoever has the house will be happy.

0:45:580:46:02

Apart from the bathroom, the two large bedrooms have been beautifully decorated.

0:46:050:46:09

And all the wiring upstairs has been replaced.

0:46:100:46:13

Brad and his mum Val have done a lot of the work, but who else has been involved in the refurbishment?

0:46:130:46:20

Well, the main one is my school friend Ian.

0:46:200:46:23

He's done all the garden.

0:46:230:46:25

I left him to it. I just said, "That's yours, you do what you like with that."

0:46:250:46:29

Another friend from school, my carpenter, George.

0:46:290:46:32

-Another friend, Eddie, put the bathroom in.

-And we'll have the same team

0:46:320:46:36

-following us into our next one, hopefully.

-definitely.

0:46:360:46:38

Remember, the room behind the kitchen had a leaking roof and holes in the wall.

0:46:380:46:42

So the flat roof has had to be replaced.

0:46:440:46:46

Insulation's been added and the walls replastered.

0:46:460:46:49

It's been virtually rebuilt.

0:46:490:46:52

So how much has the work cost? Did they manage to stick to their original 10-grand budget?

0:46:520:46:57

Well, I think we're up to almost 12. The final bits I just haven't got round to.

0:46:570:47:03

But I don't think we'll go much over 12.

0:47:030:47:06

Time to find out what two local property experts,

0:47:080:47:11

familiar with the Broadstairs housing market think of this property.

0:47:110:47:15

This property's absolutely superb.

0:47:150:47:18

The new owners have spent a lot of money

0:47:180:47:20

getting it up to a high standard,

0:47:200:47:22

and I think it really is just ready to move into now.

0:47:220:47:25

I think the key features of the property

0:47:250:47:27

are the contemporary kitchen and bathroom

0:47:270:47:30

and the fact the property has been modernised very well.

0:47:300:47:32

One of the main advantages with this property is you have got some really good off-street parking

0:47:320:47:36

and I think that certainly adds value to the property.

0:47:360:47:40

Lovely bathroom, very contemporary, and excellent with the shower over the bath.

0:47:400:47:45

The back garden's changed from a real jungle and it's now really easy to maintain,

0:47:450:47:51

it's been gravelled, there's some shingle down...

0:47:510:47:53

I think it's the right thing to do with the garden.

0:47:530:47:56

I think the only difference I would have made to this property

0:47:560:47:58

is probably adding some lawn to the rear garden.

0:47:580:48:00

That would certainly appeal to a family with young children.

0:48:000:48:04

Their plan is definitely to sell, but, long-term, Brad hopes to build a portfolio of buy-to-lets,

0:48:040:48:11

though he'd probably be interested to know how much income this one could generate.

0:48:110:48:15

This type of property is in quite high demand with tenants at the moment,

0:48:150:48:19

and I think the sort of rent achievable would be around about £700 per calendar month.

0:48:190:48:25

The rental figure for this property would be £700 per calendar month.

0:48:250:48:28

-That's not bad.

-That's good. That's more than I expected.

0:48:280:48:32

Remember they paid £108,000 at the auction. Their budget stretched to £12,000,

0:48:340:48:40

making a total outlay of 120,000, so what's the house now worth?

0:48:400:48:45

The resale for this property would be £137,500.

0:48:450:48:50

I think in this challenging market at the moment the property would be worth in the region of £135,000.

0:48:500:48:57

That range of valuation, between £135,000 to £137,500

0:48:570:49:03

would produce a gross profit of about £15,000 to £17,500.

0:49:030:49:08

Is that what they had in mind?

0:49:080:49:10

Mmm...bit low.

0:49:100:49:12

-Lower than what we anticipated.

-Yeah.

0:49:120:49:14

I know the market's gone down, but I still think possibly a little bit more than that.

0:49:140:49:20

Provided they find a buyer, this mother-and-son development double act is up and running.

0:49:220:49:28

and Brad's already thinking ahead.

0:49:280:49:30

I've enjoyed doing this one quite a bit. It's new to me, but I'll definitely have a go at doing more.

0:49:300:49:35

-I'd like to retire early...try to.

-I tried to retire early!

-Yeah.

-Didn't happen.

0:49:350:49:41

# Mama said there'll be days like this

0:49:410:49:43

# There'll be days like this Mama said... #

0:49:430:49:47

We're back in the village of Bere Alston in Devon, where this 160-year-old three-storey house

0:49:530:49:59

was bought by recently married couple Bevil and Helena.

0:49:590:50:02

They planned to make it their new home, along with Helena's son.

0:50:020:50:06

They hoped to carry out the majority of the work themselves,

0:50:060:50:10

whilst also holding down their day jobs and living in the house at the same time.

0:50:100:50:14

There was just one downside to their dream home -

0:50:140:50:17

the small garden meant there'd be no room for their pet ducks.

0:50:170:50:21

-So what's going to happen to the ducks?

-Er...

-Don't say anything horrible!

0:50:210:50:25

We're not entirely sure yet. Hopefully, somebody will take them off us.

0:50:250:50:28

Or my mum if I can convince her.

0:50:280:50:31

So we came back after 12 months to see how the renovation had progressed.

0:50:310:50:36

From the outside, it looks like the couple have taken to property renovating like ducks to water.

0:50:380:50:45

Let's see what's changed inside.

0:50:450:50:47

Progress has been slow but steady.

0:50:490:50:52

The couple are turning this property into a rural and rustic country home.

0:50:520:50:57

They've uncovered fireplaces, installed beautiful oak lintels and replastered and decorated the walls

0:50:570:51:04

in light and airy colours. So, how has the work gone over the past year?

0:51:040:51:09

Well, we moved in sort of four or five months after we bought it.

0:51:090:51:13

-Yes.

-Didn't we? And we didn't have any heating...

-Or plumbing.

-Or plumbing.

0:51:130:51:19

We just about had the electrics done, didn't we? We had no heating all the way through the winter period.

0:51:190:51:23

-So we had just the wood burner and our coats. And then we bought a couple of...

-Electric radiators.

0:51:230:51:30

That's right. To see us through!

0:51:300:51:31

Sounds chilly or cosy, depending on how many coats they put on.

0:51:310:51:35

The kitchen on the ground floor and to the rear of the property has been removed.

0:51:370:51:42

This space will become the new dining room,

0:51:440:51:47

whilst the new staircase leads to the kitchen's new location,

0:51:470:51:52

downstairs in the previously dank and dingy basement.

0:51:520:51:56

It's been fully damp-proofed and the kitchen units from upstairs are being re-used.

0:51:570:52:03

They've installed a new range

0:52:070:52:09

and it's been lots of dirty work for Helena and Bevil.

0:52:090:52:13

It's not very pleasant living in it.

0:52:150:52:17

Because we've hacked all the walls back to the old stonework, there was a lot of dust.

0:52:170:52:22

-It's not very nice to live with it.

-I don't think we realised

0:52:220:52:25

we were going to have to knock quite so much off the walls, did we?

0:52:250:52:28

No, that's the trouble. You do one wall, then you've got to do the others.

0:52:280:52:32

And he does like knocking holes in things, don't you? A bit of demolition.

0:52:320:52:36

It's a man thing, I think, isn't it?

0:52:360:52:39

Well, I'm not sure about that. I've met a few ladies on this show who are a dab hand with a sledgehammer!

0:52:390:52:45

Up two flights of stairs to the first floor where the partition walls have been removed

0:52:470:52:52

and the rooms reconfigured to make better use of the space.

0:52:520:52:56

The first room to benefit is the master bedroom.

0:52:560:52:59

Light now streams in from an extra window that had been bricked up.

0:53:000:53:05

That had happened during the period of window tax

0:53:050:53:08

when the tax was charged according to the number of windows you had,

0:53:080:53:11

so people used to cover them over rather than pay.

0:53:110:53:14

Bevil discovered its existence in a local-history book,

0:53:140:53:18

so the couple set about reinstating and restoring its former glory.

0:53:180:53:22

Work's continued in the second bedroom at the back of the property, and it's now ready to decorate.

0:53:220:53:28

The small and pokey bathroom at the rear has been transformed and given extra space.

0:53:310:53:36

the layout changes have meant that the third bedroom at the front of the house

0:53:360:53:40

has been reduced to a single-bed size.

0:53:400:53:43

It's taken a year to get this far and the couple have done all of this work

0:53:430:53:47

whilst also holding down their day jobs.

0:53:470:53:50

Working full-time you don't get much time to do a lot, evenings and weekends.

0:53:510:53:55

I think you learn to sort of appreciate things a lot more,

0:53:550:53:58

like not having water, and then when you get the water, it's like, "I've got water! Really exciting!"

0:53:580:54:03

With my cooker, I was ringing people up and saying, "I can cook a roast!"

0:54:030:54:06

We have enjoyed doing it, haven't we?

0:54:060:54:09

It just is a lot of work and a lot of dust. It's just being able to live in it. We've got some good pictures,

0:54:090:54:14

haven't we, covered in dirt and...

0:54:140:54:17

# Cos you're filthy

0:54:170:54:19

# Ooh, cos you're nasty... #

0:54:210:54:24

Their six-month schedule has long since bitten the dust, but what about the couple's £15,000 budget?

0:54:250:54:32

-I suppose it's going to be about 27, won't it, that we've spent?

-Something like that.

0:54:360:54:40

-So, obviously over our original...

-But it's still not too bad.

-No, no.

0:54:400:54:44

Remember the couple paid £82,000 for the house at auction and spent about £27,000 on it.

0:54:440:54:51

That takes their total outlay to £109,000. So how much is it now worth?

0:54:510:54:56

We asked two local property experts for their opinions.

0:54:560:55:01

The amount of work that I can see has been done has all been done to a really high standard,

0:55:010:55:05

they're using good quality fixtures and fittings.

0:55:050:55:07

There's a lovely range downstairs in the kitchen,

0:55:070:55:10

good fitted kitchen coming on. It's going to be a really high standard.

0:55:100:55:14

The house us more of a big cottage, really, so...

0:55:140:55:20

there is lots of character detail already

0:55:200:55:22

and you can always, like, buy it and put it in from a reclamation yard.

0:55:220:55:26

It's got all the makings of a really quaint, but larger-than-you-expected home.

0:55:260:55:33

The couple have no plans to put the house up for rental,

0:55:350:55:38

but they do want to sell in the future. What could the market value of this place be once finished?

0:55:380:55:44

When this property is completed, I would market this property

0:55:460:55:49

at £145,000.

0:55:490:55:51

When the house is completely done and as lovely as it's going to be,

0:55:510:55:55

I would see the value at £150,000, maybe just a smidgen more.

0:55:550:56:01

Those valuations would give the couple a pre-tax profit of between £36,000 and £41,000,

0:56:030:56:09

minus the usual selling expenses, of course.

0:56:090:56:11

-That sounds good. Sounds about right, what we thought.

-Yeah.

0:56:130:56:16

-Or hoping for.

-I think over 140 we'd would have been happy. So...no, that's good.

0:56:160:56:21

So, Bevil and Helena are happy with that.

0:56:210:56:25

It looks like they've got all their ducks in a row for completing this renovation.

0:56:250:56:30

Which reminds me...whatever happened to their pet ducks?

0:56:300:56:35

Well, unfortunately, most of them fell victim to a hungry fox,

0:56:350:56:39

but, luckily, one survived and has been rehoused.

0:56:390:56:43

And when the couple finish this refurbishment, they'll have a lovely new home as well.

0:56:430:56:48

Not enough for you? Well, there's plenty more.

0:56:520:56:55

-So make sure you join us next time for more Homes Under the Hammer.

-We'll see you then.

-Goodbye.

0:56:550:57:00

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0:57:030:57:08

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0:57:080:57:12

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