0:00:00 > 0:00:04Hello! With the property market more uncertain than it used to be,
0:00:04 > 0:00:07everybody has to make their own decisions.
0:00:07 > 0:00:10You have to do your research and trust your instincts.
0:00:10 > 0:00:14One way to gauge how the market is performing is to see for yourself
0:00:14 > 0:00:17and one way to do that is to visit your local auction.
0:00:42 > 0:00:45There's a huge amount of property up for auction.
0:00:45 > 0:00:49Thousands of lots go up for sale every month all around the country.
0:00:49 > 0:00:53Why not nip down to your local auction house and see what's on offer?
0:00:53 > 0:00:57Meanwhile, here are the properties we've found for you on today's show.
0:00:58 > 0:01:03I step back five decades at this property in Nottingham.
0:01:03 > 0:01:05This really gives the '50s away!
0:01:05 > 0:01:07A serving hatch to the kitchen.
0:01:09 > 0:01:13In London, I'm learning a thing or two at this mid-terraced property.
0:01:14 > 0:01:17I think they call this the kitchen. Goodness gracious!
0:01:18 > 0:01:22And I've gone for a stroll in the country in Yorkshire.
0:01:22 > 0:01:26Kicking through the leaves on an autumn day in a British woodland.
0:01:26 > 0:01:28Doesn't get much better!
0:01:30 > 0:01:32All these properties were sold at auction.
0:01:32 > 0:01:37We found out who bought them and for how much when they went under the hammer.
0:01:40 > 0:01:44This is Sandiacre, ten miles west of Nottingham
0:01:44 > 0:01:46and nine miles from Derby.
0:01:47 > 0:01:51Back in the late 1800s, Sandiacre was very much an industrial town
0:01:51 > 0:01:54with its own ironworks and lace mill.
0:01:54 > 0:02:00The canal here would have been used to transport all sorts of industrial things, from coal to china.
0:02:00 > 0:02:04Now it's been restored, and very pleasant it is, too,
0:02:04 > 0:02:06with a cycle path and a place for recreation.
0:02:06 > 0:02:11The good news is that the property I'm here to see is very close by.
0:02:11 > 0:02:18# Down by the old mill stream
0:02:18 > 0:02:23# Where I first met you... #
0:02:25 > 0:02:30But the cycle path and peaceful canals aren't the only transport links in Sandiacre.
0:02:30 > 0:02:35There's also easy access to the A52 and nearby M1.
0:02:35 > 0:02:38The property I'm here to see
0:02:38 > 0:02:42hasn't been sold since it was first constructed, until now, that is.
0:02:42 > 0:02:45See if you can guess which year it was built in.
0:02:45 > 0:02:47It was the year that the EEC was founded,
0:02:47 > 0:02:49Elvis Presley had joined the army,
0:02:49 > 0:02:52Madonna and Michael Jackson were both born,
0:02:52 > 0:02:55Khrushchev became president of the Soviet Union,
0:02:55 > 0:03:00Brazil won the World Cup and Bridge On The River Kwai won the Oscar for Best Picture.
0:03:00 > 0:03:02Well, pop-pickers, what year was it?
0:03:03 > 0:03:061958. Let's take a look inside.
0:03:07 > 0:03:12At a guide price of just 110,000, it certainly got my interest.
0:03:12 > 0:03:16So, what have we got? OK. A large entrance way here.
0:03:16 > 0:03:20We like that. Leading through to the kitchen. Stairs to the bedrooms
0:03:20 > 0:03:21and a downstairs loo.
0:03:21 > 0:03:26No, it's a cupboard. Oh, well, great to have storage space.
0:03:26 > 0:03:30And straightaway not feeling that much like a '50s house,
0:03:30 > 0:03:35certainly one that hasn't been touched. It's had work done and that's nice.
0:03:35 > 0:03:40Double glazing, a bay window. We like that. Light coming in, you can see the garden.
0:03:40 > 0:03:42Then this really gives the '50s away.
0:03:42 > 0:03:47A serving hatch to the kitchen. Do you keep it or get rid of it?
0:03:47 > 0:03:49Jury's out.
0:03:54 > 0:04:00If you peer into the kitchen, you'll discover it's a few decades on from the 1950s.
0:04:00 > 0:04:03But still in desperate need of modernising.
0:04:03 > 0:04:06You could consider knocking down that wall completely
0:04:06 > 0:04:10and opening it right up into an open-plan kitchen and living room.
0:04:10 > 0:04:14However, that would involve the cost of having to put in supporting beams.
0:04:14 > 0:04:18Up the pine-cladding-covered stairs.
0:04:18 > 0:04:21A throwback to the '70s, not the '50s. Three bedrooms.
0:04:21 > 0:04:23One single, two good-sized doubles
0:04:23 > 0:04:26and a separate loo and bathroom there.
0:04:26 > 0:04:32Age-old debate, do you knock the two together? In a family house, I maintain keep the bathroom separate.
0:04:32 > 0:04:37All in all, not in a bad state. Even if you just look at tarting this place up,
0:04:37 > 0:04:40things like the ceiling tiles need to come off that ceiling.
0:04:40 > 0:04:43It's got a nasty bow in it. That needs sorting.
0:04:43 > 0:04:47Don't underestimate the effort it'll take to get this into a nice state.
0:04:47 > 0:04:51Not massive, but it'll take a few weeks and a few thousand quid.
0:04:51 > 0:04:55If you wanted to spend even more money on this property,
0:04:55 > 0:04:59there's scope for an even bigger development at the back.
0:04:59 > 0:05:03Out to the rear of the property through these lovely big patio doors.
0:05:03 > 0:05:07While I'm out here, something else I might consider doing here
0:05:07 > 0:05:11is adding an extension, as next door have done. A double-storey extension.
0:05:11 > 0:05:14It may not be that complicated to put one on here.
0:05:14 > 0:05:19You can do it under something called permitted development. You don't always need planning permission.
0:05:19 > 0:05:21But you need building regulations.
0:05:21 > 0:05:23It comes down to how big the extension is,
0:05:23 > 0:05:27how close it is to neighbouring properties at the side and back.
0:05:27 > 0:05:30All the latest details are on the various planning websites.
0:05:30 > 0:05:33Look at the figures and see if it's worthwhile.
0:05:33 > 0:05:36So loads of potential at this house.
0:05:36 > 0:05:40I asked along a local property expert to tell me her thoughts.
0:05:44 > 0:05:48The property obviously needs general modernisation.
0:05:48 > 0:05:54It looks like the previous owners have lived here quite a while and not updated it recently.
0:05:54 > 0:05:57It definitely needs a new kitchen, new bathroom.
0:05:57 > 0:06:01It would be great to make a big family dining kitchen at the back.
0:06:01 > 0:06:04It needs general modernisation throughout.
0:06:04 > 0:06:08Would it be a good idea to extend it at the back?
0:06:09 > 0:06:13A couple of neighbouring properties have done double-storey extensions
0:06:13 > 0:06:16which would make the property more appealing
0:06:16 > 0:06:20definitely to the family market and because of where we're located.
0:06:20 > 0:06:25You could make a bigger bedroom, bigger bathroom, family kitchen at the back.
0:06:25 > 0:06:30There's a garage here, but the driveway is tight, so I'd remove the garage and make a bigger garden.
0:06:30 > 0:06:35Remember, this property had a guide price of 110,000.
0:06:35 > 0:06:39Once it's been renovated, how much could it resell for?
0:06:40 > 0:06:43I would say in the region of about £160,000.
0:06:43 > 0:06:47If you were to do the extension, a double-storey extension,
0:06:47 > 0:06:52you'd probably get in the region of about 180, £185,000.
0:06:52 > 0:06:55What if the purchaser decided to rent it out?
0:06:57 > 0:07:01In terms of value, you could get about £595 per calendar month.
0:07:01 > 0:07:03I'm sure it would be taken very quickly.
0:07:05 > 0:07:08What is there not to like about this house?
0:07:08 > 0:07:1250 years after it was built, it still is a wonderful family home.
0:07:12 > 0:07:15Needs a bit of sorting out, a bit of money spent on it,
0:07:15 > 0:07:17and it would make a great family home
0:07:17 > 0:07:22or possibly an investment property as long as you keep a tight rein on the budget.
0:07:22 > 0:07:25Let's see who got excited by it at the auction.
0:07:25 > 0:07:27How much can I say for this? 105,000?
0:07:27 > 0:07:31Thank you. £105,000. Starting bid.
0:07:31 > 0:07:34At 106. 106.
0:07:34 > 0:07:36107. 107.
0:07:36 > 0:07:37108 I've got.
0:07:37 > 0:07:39108. 109.
0:07:39 > 0:07:42110 is bid. 110. And 11.
0:07:42 > 0:07:4412.
0:07:44 > 0:07:47113. 114.
0:07:47 > 0:07:49114. 115?
0:07:49 > 0:07:51At £114,000.
0:07:51 > 0:07:5450. 115?
0:07:54 > 0:07:56115,000. 16.
0:07:56 > 0:07:58116. 116.
0:07:58 > 0:08:0017?
0:08:00 > 0:08:02£116,000.
0:08:02 > 0:08:04It's in the market. 117. 118.
0:08:04 > 0:08:08118. It's going to get sold. 118. 119.
0:08:08 > 0:08:09120.
0:08:09 > 0:08:11120.
0:08:11 > 0:08:1321?
0:08:13 > 0:08:15Still not dear. £120,000.
0:08:15 > 0:08:18121. 22.
0:08:18 > 0:08:20122. 23?
0:08:20 > 0:08:2323, quickly? 123.
0:08:23 > 0:08:25124.
0:08:25 > 0:08:2625.
0:08:26 > 0:08:2726.
0:08:27 > 0:08:29126.
0:08:29 > 0:08:3127?
0:08:31 > 0:08:35£126,000. 127 somewhere else?
0:08:35 > 0:08:41At £126,000, then, it goes. For the first time. 27.
0:08:41 > 0:08:42128.
0:08:42 > 0:08:45128. 129?
0:08:45 > 0:08:46129.
0:08:46 > 0:08:49130.
0:08:49 > 0:08:51130. And one?
0:08:51 > 0:08:54No? £130,000 for the first,
0:08:54 > 0:08:57second, third and last...
0:08:57 > 0:08:58All done? Second thoughts?
0:08:58 > 0:09:01Sold at 130. Thank you.
0:09:01 > 0:09:03All that persistence paid off.
0:09:03 > 0:09:07It was Ian who made that successful bid of 130,000.
0:09:07 > 0:09:11Ian's an electrician from Nottingham, where he runs his own company.
0:09:11 > 0:09:14This is his third property investment
0:09:14 > 0:09:17and I caught up with him to find out his plans for it.
0:09:26 > 0:09:28- Ian, congratulations.- Thank you.
0:09:28 > 0:09:30Good house. Why did you want to buy it?
0:09:30 > 0:09:34Mainly because I just like the area.
0:09:34 > 0:09:36And it was at the right guide price.
0:09:36 > 0:09:40So it was just the one that suited me, really.
0:09:40 > 0:09:44- Why have you bought it? - Well, with the present climate,
0:09:44 > 0:09:48it's nice to have a job that we can drop on to.
0:09:48 > 0:09:50I've got mine own business
0:09:50 > 0:09:57and when we haven't got work, we can drop onto these, do them up and hopefully make a bit of profit.
0:09:57 > 0:09:59- How many people do you have working for you?- Four.
0:09:59 > 0:10:03Right. Was the danger that you didn't have enough to keep them on?
0:10:03 > 0:10:06It's very easy to go through the work very quickly.
0:10:06 > 0:10:12Before you know it, if you've got a few weeks spare, it's not ideal for the guys at home.
0:10:12 > 0:10:16So at least this way, we've got a continuity of work.
0:10:16 > 0:10:22- What are you going to do to this place?- Hopefully we're going to turn it round in eight to ten weeks.
0:10:22 > 0:10:26We're going to take out this wall and open out the kitchen
0:10:26 > 0:10:27to make a kitchen/diner.
0:10:27 > 0:10:31Put a wall in to divide the diner and the lounge as it is now,
0:10:31 > 0:10:33and make that one room.
0:10:33 > 0:10:37Hopefully put a downstairs toilet in.
0:10:37 > 0:10:38Where will that go?
0:10:38 > 0:10:41Ideally, it'll go under the staircase.
0:10:41 > 0:10:46If not, we'll make a bit of room at the front and put it in the downstairs cupboard.
0:10:46 > 0:10:51Upstairs is going to have the bathroom knocked into one
0:10:51 > 0:10:55so the toilet becomes part of the bathroom, as opposed to separate.
0:10:55 > 0:10:57The bedrooms will just be cleaned up, painted,
0:10:57 > 0:11:02new carpets and pretty straightforward.
0:11:02 > 0:11:07Ian's budgeted between 18 and £20,000 for all the work.
0:11:07 > 0:11:11It sounds quite a lot, but then again, he's a man with high standards.
0:11:12 > 0:11:16We're probably a bit higher spec than would normally be done.
0:11:16 > 0:11:18Cos there's so many properties on the market,
0:11:18 > 0:11:22preferably ours is the best and then somebody's going to buy it.
0:11:22 > 0:11:25- #- You're simply the best
0:11:28 > 0:11:31- #- Better than all the rest...- #
0:11:31 > 0:11:36Definitely cost a little bit more. The profit, obviously, isn't as good,
0:11:36 > 0:11:38but the saleability is a lot better.
0:11:38 > 0:11:44So you haven't got the worry of leaving something on the market for a long time
0:11:44 > 0:11:46which is a lot more important than making a huge profit.
0:11:46 > 0:11:50- It's about cash flow? - Yeah, definitely.
0:11:50 > 0:11:55- What happens if other jobs come in in the meantime?- If other jobs come in, we will leave this
0:11:55 > 0:11:58and go and do them so this goes on the back burner.
0:11:58 > 0:12:01The other work does come first.
0:12:01 > 0:12:04- Congratulations. Well done.- Thank you.- Look forward to seeing it.
0:12:04 > 0:12:08People buy properties for all sorts of different reasons.
0:12:08 > 0:12:13In this case, it's to keep Ian's business ticking over and his staff employed.
0:12:13 > 0:12:17But he really needs to keep a tight track on that budget
0:12:17 > 0:12:19as there isn't a lot to be made here.
0:12:19 > 0:12:22Will he keep on track, on time and on budget?
0:12:22 > 0:12:25Find out later in the show.
0:12:36 > 0:12:40If you're like me and you're tuned in to the property grapevine,
0:12:40 > 0:12:44you'll know that house prices in the capital have been rising steadily
0:12:44 > 0:12:48for the last four months, which is great news for homeowners everywhere.
0:12:48 > 0:12:51Today, I'm in Greenwich, and despite that steady rise
0:12:51 > 0:12:55prices are still 15% below what they were 12 months ago.
0:12:55 > 0:13:01But things are certainly looking up and there's still bargains to be had.
0:13:04 > 0:13:09The average price for a terraced property around here is approximately 250,000.
0:13:09 > 0:13:14That seems pretty good value for an area with great links to the West End and Canary Wharf
0:13:14 > 0:13:19and with many impressive examples of listed buildings and exquisite architecture.
0:13:24 > 0:13:29So with your average house at around a quarter of a million on the open market,
0:13:29 > 0:13:33what's the price of a mid-terraced house converted into two flats
0:13:33 > 0:13:37in this fashionable corner of the capital at auction, you may wonder.
0:13:37 > 0:13:43We're talking around £185,000-plus, and that's as a starting guide price.
0:13:43 > 0:13:46Now that is a real bargain.
0:13:46 > 0:13:49The outside is promising. I can't wait to get inside.
0:13:49 > 0:13:53What I love about Victorian houses is the character they have.
0:13:53 > 0:13:56They usually ooze so much charm.
0:13:56 > 0:13:59But you can see straightaway this house has been the victim
0:13:59 > 0:14:02of an unsympathetic conversion.
0:14:02 > 0:14:06It would have been two flats, but I know it's being sold at auction as one dwelling.
0:14:06 > 0:14:09And it's in a bit of a state!
0:14:09 > 0:14:13Through here is a reception room. A good size, lovely bay window,
0:14:13 > 0:14:20but no beautiful fireplace, no deep coving, no lovely lampshades. It's not looking that good to me.
0:14:20 > 0:14:23We've got a middle room here, a second reception room.
0:14:23 > 0:14:28You could think about knocking through to create a larger space,
0:14:28 > 0:14:31because that would allow the light to flood through.
0:14:31 > 0:14:37There's this rather dark and dingy corridor leading to - do you know what - I think this is the kitchen!
0:14:37 > 0:14:39Goodness gracious!
0:14:39 > 0:14:42This is all going to have to be ripped out.
0:14:42 > 0:14:45Whoever takes this on, it's not for the faint-hearted.
0:14:45 > 0:14:47Money will have to be spent here.
0:14:47 > 0:14:50It's not really a good start.
0:14:51 > 0:14:55This used to be a single property, so has just one front door,
0:14:55 > 0:14:59although the housing association did make it into two flats.
0:14:59 > 0:15:03So whether it's to stay as two flats or be restored back to a family home,
0:15:03 > 0:15:06some major changes need to happen.
0:15:06 > 0:15:10The loo on the ground floor should be moved into the main body of the house.
0:15:10 > 0:15:13At the moment, you need to go out through here to get to it.
0:15:16 > 0:15:19So at the back of the property you've got this large room
0:15:19 > 0:15:22which is currently housing a shower and a sink!
0:15:22 > 0:15:24But over here there's a big crack.
0:15:24 > 0:15:27See here there's damp coming in from next door
0:15:27 > 0:15:29and it's still quite wet to the touch.
0:15:29 > 0:15:34I imagine this has been here for some time and you can see that dry rot has set in.
0:15:34 > 0:15:39Not good signs. Dry rot is the most serious type of timber decay.
0:15:39 > 0:15:42It's a fungus that spreads and spreads fast.
0:15:42 > 0:15:47These floorboards wouldn't have been treated because I know they're the original ones.
0:15:47 > 0:15:50All this needs to be chopped out and replaced.
0:15:51 > 0:15:54This is a major repair job.
0:16:04 > 0:16:07Fingers crossed things improve upstairs.
0:16:07 > 0:16:09There's lots of space,
0:16:09 > 0:16:12though again, the rooms need to be juggled around.
0:16:12 > 0:16:16I'd create a separate bathroom rather than the en-suite that exists.
0:16:16 > 0:16:22And if it were to stay as two flats, it would need a new kitchen up here as well as downstairs.
0:16:24 > 0:16:28I reckon you'd save more money and time converting it back to a family home.
0:16:28 > 0:16:31The returns on that may not be quite as exciting,
0:16:31 > 0:16:36but returning this to its former glory would greatly reduce the amount you'd need to spend.
0:16:40 > 0:16:43Time to find out what a local estate agent thinks.
0:16:45 > 0:16:50This property is quite unusual because it was originally one Victorian house
0:16:50 > 0:16:52with a scullery downstairs.
0:16:52 > 0:16:56At some point, somebody's split it - unprofessionally, not properly -
0:16:56 > 0:17:00split it into two dwelling houses, probably to rent out.
0:17:00 > 0:17:03It is uncommon. Most people would split them properly
0:17:03 > 0:17:06but most of these houses this size would stay as a house.
0:17:06 > 0:17:08It's not big enough to be two flats.
0:17:08 > 0:17:11Sounds like he agrees with me.
0:17:11 > 0:17:15But he's spotted an important detail that may put families off.
0:17:15 > 0:17:20We're in a typical Victorian, what I would say, worker's house.
0:17:20 > 0:17:26We're close to London, in Greenwich, so you get a great location but not much outside space.
0:17:26 > 0:17:31This house shows that. It's a very small, unusual, "dog-leg" garden, not even a square.
0:17:31 > 0:17:39It's L-shaped. It's a house you buy for the location, not for the outside space.
0:17:39 > 0:17:46With a guide price of 185,000, what could it be worth if renovated back to a single dwelling?
0:17:47 > 0:17:51Once the property's been done up to a good standard, and done nicely,
0:17:51 > 0:17:56we're looking at a value price, on the market, of about £400,000.
0:17:56 > 0:17:59So there's definitely profit to be made.
0:17:59 > 0:18:03- What about rental opportunities? - Rent per calendar month
0:18:03 > 0:18:07for a three-bed property along this road is around 1,500 per calendar month.
0:18:09 > 0:18:15So a great-looking property and a steal at £185,000 as a starting guide price.
0:18:15 > 0:18:20But restore this back into a beautiful family home
0:18:20 > 0:18:22and inject some of that old character
0:18:22 > 0:18:24with some lovely original features
0:18:24 > 0:18:26and it could be a winner in my book.
0:18:26 > 0:18:31Let's see who had the vision to take this on when it went under the hammer.
0:18:32 > 0:18:36Who'd like to start on this? We're not going to go below 150. 150.
0:18:36 > 0:18:39160. 170. 180.
0:18:39 > 0:18:42190. 200.
0:18:42 > 0:18:44210. 220.
0:18:44 > 0:18:46230. 240.
0:18:46 > 0:18:48250. 260.
0:18:48 > 0:18:50270. 280.
0:18:50 > 0:18:54290. 290. 291.
0:18:54 > 0:18:56If not, 290 down here.
0:18:56 > 0:18:59291. Anywhere else?
0:18:59 > 0:19:01291. Well done. 292.
0:19:01 > 0:19:04293. 294.
0:19:04 > 0:19:06295?
0:19:06 > 0:19:07Well done.
0:19:07 > 0:19:09296.
0:19:09 > 0:19:10297?
0:19:11 > 0:19:13297?
0:19:13 > 0:19:15298.
0:19:15 > 0:19:17299. Anywhere else?
0:19:17 > 0:19:19If not... 299.
0:19:19 > 0:19:21Round it off to 300?
0:19:21 > 0:19:23301?
0:19:24 > 0:19:26One more go?
0:19:26 > 0:19:29You know, those sort of... 301.
0:19:29 > 0:19:31302?
0:19:31 > 0:19:33It's not. 303?
0:19:33 > 0:19:35303?
0:19:37 > 0:19:39Have a think. 302 down with you.
0:19:39 > 0:19:42303? Bet someone else comes in now.
0:19:42 > 0:19:44302, down here.
0:19:44 > 0:19:46Anyone else? 302. First time,
0:19:46 > 0:19:49second time. Third and last time.
0:19:49 > 0:19:52You crafty what's-it! 303!
0:19:52 > 0:19:54I'm sorry. It's his first bid.
0:19:54 > 0:19:55304?
0:19:55 > 0:19:57Yeah? 305?
0:19:57 > 0:19:58306.
0:19:58 > 0:20:00307.
0:20:00 > 0:20:01Sure?
0:20:01 > 0:20:03Dead sure? 306.
0:20:03 > 0:20:06First time. Second time. Third...
0:20:07 > 0:20:08307.
0:20:08 > 0:20:10308. 309?
0:20:10 > 0:20:12I only do it once.
0:20:12 > 0:20:14308.
0:20:14 > 0:20:18First time, second time, third and last time. All done?
0:20:18 > 0:20:22Sold, 308. Well done, madam. Well done. You got there.
0:20:24 > 0:20:31Finally, for £308,000, 123,000 over the guide price,
0:20:31 > 0:20:33the new owners of the Victorian terrace
0:20:33 > 0:20:35are Danielle and Michael.
0:20:35 > 0:20:39They bought it not as an investment but as their new home.
0:20:39 > 0:20:41It's the perfect property for them,
0:20:41 > 0:20:46just across the river from where they work in the investment banking sector at Canary Wharf.
0:20:46 > 0:20:50Guys, that was an interesting auction, I have to say.
0:20:50 > 0:20:54You sighed the biggest sigh of relief ever, once you got the property.
0:20:54 > 0:20:57I know. I was just dying for that hammer to hit.
0:20:57 > 0:21:00I kept saying, "Hit the hammer! Hit the hammer!"
0:21:00 > 0:21:04So I was completely relieved when it finally happened.
0:21:04 > 0:21:07So you've got this property. It's great news for you both.
0:21:07 > 0:21:12How do you feel now? Now you own it and now you've got to start spending money.
0:21:12 > 0:21:14It needs a lot of work.
0:21:14 > 0:21:17- Yes.- Yeah.- Are you slightly nervous of that?- Yes.
0:21:17 > 0:21:21So where are you going to start, Michael, with the work?
0:21:21 > 0:21:24We've got an architect lined up so we'll get some plans drawn out
0:21:24 > 0:21:27and then get a builder in to do all the building work.
0:21:27 > 0:21:32Get the flooring done, get the kitchen and bathroom in.
0:21:32 > 0:21:34Then we'll come in and decorate.
0:21:34 > 0:21:39OK, it all sounds easy. The list is there. Let's talk about the hardcore stuff.
0:21:39 > 0:21:45I've noticed, Danielle, you've got a lot of dry rot, a big problem at the back of the property downstairs.
0:21:45 > 0:21:47Tell me what's going on there.
0:21:47 > 0:21:51OK. We think that there's a leak coming through from the house next door.
0:21:51 > 0:21:56It does look quite damp still and we think it's been going for quite a long time
0:21:56 > 0:21:59because it's turned into dry rot.
0:22:00 > 0:22:04We didn't really inspect it that closely prior to the auction
0:22:04 > 0:22:06so that is a bit of a surprise.
0:22:06 > 0:22:09So we are quite concerned that there is quite a lot of work
0:22:09 > 0:22:14and maybe the whole joists, everything will need to be replaced.
0:22:14 > 0:22:18I've also seen a bit of a crack down the side there.
0:22:18 > 0:22:21Do you think there's been any chance of movement, Michael?
0:22:21 > 0:22:28Potentially. I think if the leak's been there for longer, the wall could have subsided in the corner.
0:22:28 > 0:22:32- But we'll just put a bit of concrete under it!- So you may need to underpin that area.
0:22:32 > 0:22:34Yeah. I think so.
0:22:35 > 0:22:39Unfortunately, as is often the case with auction properties,
0:22:39 > 0:22:43Danielle and Michael just didn't have time to get a structural survey done.
0:22:43 > 0:22:45That could prove unfortunate.
0:22:45 > 0:22:48Although they have a budget of £80,000,
0:22:48 > 0:22:52once you start renovations, you never know what may be uncovered.
0:22:52 > 0:22:55Michael doesn't think there's anything here they can't tackle.
0:22:56 > 0:23:01- We'll have it up and ready and sorted within a few months. - He's always confident!
0:23:01 > 0:23:05Danielle, how do you feel? Michael's really confident about this.
0:23:05 > 0:23:08For me I think it's huge and it's a really big house
0:23:08 > 0:23:12compared to what we've been living in in the past.
0:23:12 > 0:23:17Michael's always the confident one, thinking we can get things done quicker!
0:23:17 > 0:23:21The couple hope to have the house ready to move into within six months,
0:23:21 > 0:23:23so they have a busy time ahead.
0:23:23 > 0:23:27We're definitely going to knock through one of the walls downstairs
0:23:27 > 0:23:30and hopefully open up right across the back wall
0:23:30 > 0:23:33so there's glass doors all the way along.
0:23:33 > 0:23:38Being from Australia, I want to incorporate that indoor/outdoor feel,
0:23:38 > 0:23:44and go into the garden and have that sense of lightness coming in.
0:23:44 > 0:23:46Big plans for downstairs.
0:23:46 > 0:23:50Upstairs there'll be three bedrooms and a family bathroom.
0:23:50 > 0:23:53Danielle also plans to scour salvage yards
0:23:53 > 0:23:58for Victorian fireplaces, cornices, skirting boards and flooring
0:23:58 > 0:24:01to bring the original grandeur back into their new home.
0:24:01 > 0:24:03She can't wait to get started.
0:24:03 > 0:24:06I've always wanted to do something like this
0:24:06 > 0:24:09and I can't believe it's finally happening. It's amazing!
0:24:09 > 0:24:12- Are you really excited? - Really excited.
0:24:13 > 0:24:16Danielle and Michael have a lot of hard work ahead
0:24:16 > 0:24:18and in a short space of time.
0:24:18 > 0:24:20Sadly, they didn't really do their homework.
0:24:20 > 0:24:24Had they had a survey done, they would have spotted that trouble down there.
0:24:24 > 0:24:30Will they sort it out? Find out what happens later in the programme.
0:24:31 > 0:24:33Coming up: I'm in Yorkshire
0:24:33 > 0:24:35where there's a bit of work to do!
0:24:35 > 0:24:37This is a character property.
0:24:37 > 0:24:40But it's going to take a lot of effort to sort it out.
0:24:41 > 0:24:45Has it all been plain sailing for the renovation of this property in London?
0:24:47 > 0:24:51We did have a lot of problems with the builders. They didn't meet our expectations.
0:24:53 > 0:24:59But first we return to Nottingham to see if that wall has come tumbling down in this three-bed house.
0:25:06 > 0:25:11Now it's back to Sandiacre where this 1950s three-bed detached house
0:25:11 > 0:25:14sold at auction for 130,000.
0:25:14 > 0:25:17It was bought by electrician Ian.
0:25:17 > 0:25:20So why have you bought it?
0:25:20 > 0:25:25In the present climate, it's nice to have a job that we can drop on to.
0:25:25 > 0:25:31I've got my own business. When we haven't got work, we can drop on to these,
0:25:31 > 0:25:34do them up and hopefully make a bit of profit.
0:25:38 > 0:25:41Four months later, we caught up with him
0:25:41 > 0:25:43to see how busy he's kept his team.
0:25:52 > 0:25:56The main thing that's happened to the house since you were here
0:25:56 > 0:26:00is that we've opened out the wall between the toilet and the bathroom
0:26:01 > 0:26:03and open-planned it.
0:26:05 > 0:26:08The new bathroom is stylish and bright.
0:26:08 > 0:26:11He's managed to squeeze in a shower as well as a bath.
0:26:14 > 0:26:16And, true to his word,
0:26:16 > 0:26:18instead of that old cupboard downstairs,
0:26:18 > 0:26:21he's also got a second loo in the house.
0:26:21 > 0:26:25But the most notable transformation has been in the kitchen.
0:26:25 > 0:26:28The original kitchen was in quite a poor state.
0:26:28 > 0:26:36We decided to rip the whole thing out, a full rewire,
0:26:36 > 0:26:39new plumbing, integrated appliances,
0:26:39 > 0:26:43fridge-freezer, washing machine,
0:26:43 > 0:26:47and basically a nice clean white gloss finish.
0:26:47 > 0:26:49Remember that old serving hatch?
0:26:49 > 0:26:52Well, that's gone, as has the wall,
0:26:52 > 0:26:56and he's created an open-plan dining space looking onto the garden.
0:26:56 > 0:27:00The rest of the house has been completely rewired,
0:27:00 > 0:27:05redecorated, re-carpeted, and central heating has been installed.
0:27:05 > 0:27:06So far, so good.
0:27:06 > 0:27:09But did Ian and his team hit any problems?
0:27:09 > 0:27:15The biggest challenge here was probably dividing the kitchen up,
0:27:15 > 0:27:20taking out the main wall and putting in an RSJ and supporting floor in.
0:27:20 > 0:27:24Apart from that, everything else was fairly straightforward.
0:27:24 > 0:27:29So far, then, this has all been pretty straightforward for Ian.
0:27:29 > 0:27:33But did he go over his original budget of 18 to 20,000?
0:27:34 > 0:27:39We've actually spent just short of 18,000
0:27:39 > 0:27:44but that doesn't include the fees, so it's just short of 20,000 including the stamp duty
0:27:44 > 0:27:46and any other fees.
0:27:46 > 0:27:50You know, water, utility bills and things like that.
0:27:50 > 0:27:53So yeah, we were pretty accurate.
0:27:53 > 0:27:56Because of other work commitments,
0:27:56 > 0:28:00his team completed the work over 16 weeks rather than the ten he'd hoped for.
0:28:01 > 0:28:07The whole idea behind buying this property was to keep his employees busy in between projects.
0:28:07 > 0:28:08So what's the plan now?
0:28:12 > 0:28:14Ideally, I'd like to sell it.
0:28:14 > 0:28:19If I don't get the offer that we want,
0:28:19 > 0:28:22then I'll perhaps think about renting it.
0:28:23 > 0:28:25What kind of figure could he sell it for?
0:28:25 > 0:28:28Ian bought the house for 130,000
0:28:28 > 0:28:33and has spent £20,000 on the renovation including all fees and expenses.
0:28:33 > 0:28:36That's a total investment of £150,000.
0:28:36 > 0:28:40Time to get the opinions of two local estate agents.
0:28:40 > 0:28:43I think the current owner has done a really good job.
0:28:43 > 0:28:47Decoration-wise, definitely a huge improvement.
0:28:47 > 0:28:50He's made an older property, given it a modern twist.
0:28:50 > 0:28:54They've obviously done quite a lot of improving to it.
0:28:54 > 0:28:58They've concentrated on the two main rooms, the kitchen and bathroom.
0:28:58 > 0:29:02Personally, I would have put a fireplace in the lounge
0:29:02 > 0:29:05because it's quite a featureless room without one.
0:29:05 > 0:29:08I think the bedrooms are good sizes.
0:29:08 > 0:29:12They're neutral decoration so they'll appeal to a broad market.
0:29:12 > 0:29:14The downstairs layout is very good.
0:29:14 > 0:29:18I like the idea of the dining room being part of the kitchen.
0:29:18 > 0:29:20It's perfect for families and entertaining.
0:29:20 > 0:29:25That's how most people prefer these house layouts these days.
0:29:26 > 0:29:29Is there a good market for this type of house around here?
0:29:31 > 0:29:33If this was put up for rent, it would rent very well.
0:29:33 > 0:29:37The area is very good, there are good local schools
0:29:37 > 0:29:40and the road links here are fantastic.
0:29:40 > 0:29:43So it wouldn't take long to find a tenant.
0:29:44 > 0:29:48What could Ian charge a tenant if he did rent it out?
0:29:48 > 0:29:54If you were to let the property, you could achieve in the region of £625 per calendar month.
0:29:54 > 0:29:59I'd expect this property to rent for round about £700 per calendar month.
0:29:59 > 0:30:03700? Oh, that's pretty good. I'm quite impressed with that.
0:30:03 > 0:30:07I don't think I'd like to go down the rental road,
0:30:07 > 0:30:11but if that was the case, that would be quite reasonable.
0:30:12 > 0:30:14Ian's hoping for a quick resale.
0:30:14 > 0:30:20So what could he get? Remember, his total outlay here is 150,000.
0:30:22 > 0:30:26The property could achieve between £170,000 and 175,000.
0:30:26 > 0:30:29I'd expect this house to sell in this market
0:30:29 > 0:30:32for between 165 and £170,000.
0:30:32 > 0:30:35Yeah, that's pretty much what I was expecting.
0:30:35 > 0:30:38So yeah, we should get a little bit of profit out of that.
0:30:40 > 0:30:45That's a potential profit of between 15 and £25,000
0:30:45 > 0:30:48before tax and the usual selling expenses.
0:30:48 > 0:30:51How does he feel about his third property developing project?
0:30:53 > 0:30:56Overall, this project's been a success, I think.
0:30:56 > 0:30:58So yeah, move on to the next one.
0:31:05 > 0:31:09Ah, kicking through the leaves on an autumn day in a British woodland.
0:31:09 > 0:31:11Doesn't get much better.
0:31:11 > 0:31:14Imagine having this on your doorstep.
0:31:14 > 0:31:18Even better, imagine having almost three acres of your own land,
0:31:18 > 0:31:22surrounding outbuildings and a stone-built house.
0:31:22 > 0:31:25All for a guide price of 230,000 quid.
0:31:25 > 0:31:26Ooh, I'm interested!
0:31:29 > 0:31:34What a position. It's like some kind of fairytale house
0:31:34 > 0:31:36in the middle of a magical woodland.
0:31:36 > 0:31:39But it's definitely made out of stone, not gingerbread,
0:31:39 > 0:31:43slate, not liquorice,
0:31:43 > 0:31:46and that shattered glass, sadly, is not rice paper.
0:31:47 > 0:31:48No candy here, I'm afraid,
0:31:48 > 0:31:52just a very sweet setting in Meanwood, a suburb of Leeds.
0:31:55 > 0:31:59OK, so this is the main farm building.
0:31:59 > 0:32:02Three bedrooms and bucket-loads of character.
0:32:02 > 0:32:07Not much light, though, partly due to the security grilles on the windows.
0:32:07 > 0:32:09I think there's been some fire damage.
0:32:09 > 0:32:12Look at these beams, the old fireplace,
0:32:12 > 0:32:14a nice-sized space, as well.
0:32:14 > 0:32:18Thick walls. I mean, this is a character property.
0:32:18 > 0:32:20But it's going to take a lot of effort to sort it out.
0:32:22 > 0:32:29It's in the second reception room that you see the full extent of the fire damage
0:32:29 > 0:32:31caused by vandalism when the house was lying empty.
0:32:31 > 0:32:36And the kitchen is, well, basic to say the least.
0:32:36 > 0:32:38Upstairs, it's more of the same, really.
0:32:38 > 0:32:41A real hotch-potch.
0:32:41 > 0:32:44The bones are here, but the layout feels all wrong.
0:32:45 > 0:32:48Not only do you get the house and the land,
0:32:48 > 0:32:51you also get a load of outbuildings.
0:32:51 > 0:32:54Now, they are in a fairly decrepit state, as you can see.
0:32:54 > 0:33:00At the moment you could only use them for storing a horse or equipment or whatever.
0:33:00 > 0:33:05But if you could get planning permission to convert these for residential use,
0:33:05 > 0:33:09can you see a courtyard here, maybe some mews houses around the edge.
0:33:09 > 0:33:13Now it's starting to turn into a really interesting development project.
0:33:13 > 0:33:17Now, it would obviously change the total feel of this house,
0:33:17 > 0:33:22but if you're a developer, wow, suddenly it's a very interesting opportunity.
0:33:23 > 0:33:27This development could turn into a lucrative proposition.
0:33:27 > 0:33:31If I were the new owner, I'd be taking a bagful of coins
0:33:31 > 0:33:35down to that wishing well and willing my dreams to come true.
0:33:35 > 0:33:39Once developed, this could be something special.
0:33:39 > 0:33:43The garden immediately surrounding the house is indeed lovely.
0:33:43 > 0:33:46But before you get too excited, there is one small problem.
0:33:46 > 0:33:49Sitting out here on a lovely summer's evening,
0:33:49 > 0:33:52you'd have to cope with the continual noise
0:33:52 > 0:33:55from the adjoining dual carriageway!
0:33:55 > 0:33:58BUSTLE OF TRAFFIC
0:34:00 > 0:34:02Shame!
0:34:06 > 0:34:12Having one of the main ringroads around Leeds at the back of the property is hardly ideal.
0:34:12 > 0:34:15Good transport links, though!
0:34:19 > 0:34:21What does a local estate agent think of it?
0:34:22 > 0:34:28The actual house itself is in quite a bad state of repair.
0:34:28 > 0:34:33I'd estimate it would probably need about 150,000 spending on it, just to get it habitable.
0:34:33 > 0:34:38Then there's all the outbuildings. The barn could possibly be converted into a house,
0:34:38 > 0:34:40subject to planning permission,
0:34:40 > 0:34:45but they may have a problem with Highways because of the access from the ringroad.
0:34:45 > 0:34:47A headache, but it isn't insurmountable.
0:34:47 > 0:34:50Ideally, in a situation like this,
0:34:50 > 0:34:55I'd advise talking to the highways department before the auction to see where you stand.
0:34:55 > 0:34:58The road is obviously quite busy. It is a ringroad.
0:34:58 > 0:35:01But the house is fairly well elevated from the road
0:35:01 > 0:35:07so hopefully it won't cause too many problems, but it could put some people off.
0:35:07 > 0:35:09If the road doesn't deter a buyer,
0:35:09 > 0:35:12how much could the farmhouse be sold for, once renovated?
0:35:14 > 0:35:17The house would be worth around 500,000.
0:35:17 > 0:35:21If planning permission is obtained to convert the barn into another dwelling,
0:35:21 > 0:35:25that would be worth in the region of between 750 and £800,000.
0:35:25 > 0:35:31So, totally developed, this site could be worth in excess of 1.2 million,
0:35:31 > 0:35:36making that £230,000 guide price seem a real bargain.
0:35:37 > 0:35:41Well, it's a lot of property and a lot of land for the money.
0:35:41 > 0:35:45But it's going to take somebody with a considerable amount of imagination
0:35:45 > 0:35:47and very deep pockets
0:35:47 > 0:35:48to sort this place out.
0:35:48 > 0:35:54Still, I'm sure it's one that got them very excited in the auction room. Let's find out.
0:35:59 > 0:36:04What shall we say? Guide price 230? Someone start me at 230.
0:36:04 > 0:36:06230 I have. 235, then, I'll take.
0:36:06 > 0:36:09235. Thank you, sir. 240, then?
0:36:09 > 0:36:11240. 245.
0:36:11 > 0:36:13245. And 250.
0:36:14 > 0:36:17I'll take yours, madam. 250.
0:36:17 > 0:36:19255, sir? 255. 260?
0:36:19 > 0:36:21No? Shakes her head.
0:36:21 > 0:36:23257?
0:36:23 > 0:36:25257, she's back in. 260, then, sir?
0:36:25 > 0:36:27260. 262.
0:36:28 > 0:36:30264. 266.
0:36:30 > 0:36:32266. 268?
0:36:32 > 0:36:34268. And 270.
0:36:34 > 0:36:37270 back in. 272, sir?
0:36:37 > 0:36:38272. 274?
0:36:38 > 0:36:40274, he's coming back.
0:36:40 > 0:36:43276. Still going strong. 278.
0:36:43 > 0:36:46280? 282?
0:36:46 > 0:36:48282, if you will.
0:36:48 > 0:36:50Conferring.
0:36:50 > 0:36:52£282,000. 282.
0:36:52 > 0:36:55284. 86?
0:36:55 > 0:36:56284...
0:36:56 > 0:36:58286.
0:36:58 > 0:37:00288.
0:37:00 > 0:37:01290?
0:37:02 > 0:37:05290. 290.
0:37:05 > 0:37:06292?
0:37:07 > 0:37:08Yes? 292.
0:37:08 > 0:37:10294, then?
0:37:10 > 0:37:13Still going strong. £292,000. No, he's shaking his head.
0:37:13 > 0:37:16Could well be yours, sir, at £292,000.
0:37:16 > 0:37:18294 anywhere else?
0:37:18 > 0:37:21Selling then. First time. £292,000.
0:37:21 > 0:37:24Second.
0:37:24 > 0:37:27Third and final time if you're all done.
0:37:28 > 0:37:30Thank you, sir. Well done.
0:37:30 > 0:37:33For £292,000,
0:37:33 > 0:37:35the new owner is Eric.
0:37:35 > 0:37:40He's originally from Poland and owns an interior design company.
0:37:40 > 0:37:43He plans to make the property his new family home
0:37:43 > 0:37:47with his wife, Elena, his son and his wife,
0:37:47 > 0:37:49along with their three children.
0:37:49 > 0:37:53I went to meet him at the farmhouse to hear about the plans.
0:37:58 > 0:38:02- Eric, lovely to meet you. - Nice to meet you.- Congratulations!
0:38:02 > 0:38:04Hmm, on my problems?
0:38:04 > 0:38:07- On your problems, you say? - Forthcoming!
0:38:07 > 0:38:11Forthcoming problems! So, why did you want to buy this place?
0:38:11 > 0:38:14I drive past this building every day
0:38:14 > 0:38:18and I didn't know this was here until I saw a sign for the auction.
0:38:18 > 0:38:20So I was interested
0:38:20 > 0:38:24and once we'd seen it, I knew that was the plot that I wanted.
0:38:24 > 0:38:29Eric moved to the UK over 50 years ago and lives just a mile from the farm.
0:38:29 > 0:38:33But when he built a house for himself and his wife on his garden plot
0:38:33 > 0:38:36to give the former family home to his son,
0:38:36 > 0:38:41he missed the outside space. So it was the garden here that really enchanted him.
0:38:41 > 0:38:44So the garden obviously is the key to this for you?
0:38:44 > 0:38:46- That's the essence of it, yes.- Wow.
0:38:46 > 0:38:50- It's a lot of money to spend on a garden!- Well...
0:38:50 > 0:38:53It is, but it is not intended to be a development
0:38:53 > 0:38:56for the purpose of making money.
0:38:56 > 0:39:01It is the lifestyle. I had a lot of stresses because I had to learn English initially and all that.
0:39:01 > 0:39:03Controls different stresses.
0:39:03 > 0:39:07I go in the garden and I'm totally relaxed. I forget everything.
0:39:09 > 0:39:14Never mind psychologists! Go in the garden! It's cheaper and it's much more enjoyable.
0:39:14 > 0:39:16I think you're very right. Absolutely.
0:39:17 > 0:39:20Let's hope Eric's got green fingers
0:39:20 > 0:39:24because this will end up being a lot of garden once he clears the site.
0:39:26 > 0:39:30I was, up until recently, the chairman of a small interiors company.
0:39:30 > 0:39:33I'm now withdrawing gradually and hopefully at the end of this month
0:39:33 > 0:39:39I shall formally retire and my son and daughter will take over the business.
0:39:39 > 0:39:41- How old are you, if you don't mind me asking?- I'm 68.
0:39:41 > 0:39:45- OK.- So this is a new venture for me.
0:39:51 > 0:39:54This is quite some retirement hobby.
0:39:54 > 0:39:58Eric plans to maintain as many of the original features as possible
0:39:58 > 0:40:01in the main building and move in along with his wife.
0:40:01 > 0:40:07Subject to planning permission, he'd convert the outbuildings for his son's family to live in.
0:40:07 > 0:40:10Eric's budget is £100,000
0:40:10 > 0:40:15and he knows that realistically, they won't be moving in for at least a year.
0:40:15 > 0:40:18- Are you excited about moving here? - I am very excited.
0:40:18 > 0:40:21So is my wife, which is surprising!
0:40:21 > 0:40:23She's a bit wary,
0:40:23 > 0:40:26- but we've been for 41 years together, so...- Yeah.
0:40:26 > 0:40:29She'll put up with a draughty, spider-filled, dusty...
0:40:29 > 0:40:35Never mind draughty! She's had to put up for 41 years with me! What's a little draught to do with it?
0:40:37 > 0:40:39I guess after being married for 41 years,
0:40:39 > 0:40:42Eric's wife will have experienced a few things!
0:40:42 > 0:40:44So what's a small draught?
0:40:45 > 0:40:49There is something that could cause a bigger headache, though.
0:40:49 > 0:40:55The only downside, I guess, to me, is the road, which is a bit noisy. Does that bother you?
0:40:55 > 0:40:58We can't have everything. You have 100-year-old trees,
0:40:58 > 0:41:02a lovely piece of land, a reasonably historic building,
0:41:02 > 0:41:06what more do you want? All right, you have to raise your voice from time to time.
0:41:06 > 0:41:09But I already have a loud voice!
0:41:09 > 0:41:11I'm delighted you got this place
0:41:11 > 0:41:15- because you're clearly made for each other, aren't you?- We'll see!
0:41:20 > 0:41:25Well, this auction lot was always going to be bought by somebody with a passion
0:41:25 > 0:41:27and Eric certainly has that.
0:41:27 > 0:41:30Although not necessarily for the house, for the garden!
0:41:30 > 0:41:34Anyway, it's going to be a family project, lots of work to do
0:41:34 > 0:41:36and lots of problems to uncover.
0:41:36 > 0:41:40Find out how Eric and his family get on later in the show.
0:41:43 > 0:41:47Well, time and tide wait for no man. The weeks and months have passed.
0:41:47 > 0:41:51How have our buyers got on with their DIY efforts?
0:41:51 > 0:41:54The work should have been done, but you never know!
0:41:54 > 0:41:56- Shall we go back and find out? - Let's do it.
0:42:02 > 0:42:06We're back in Greenwich, where earlier we met Danielle and Michael.
0:42:06 > 0:42:09They paid £308,000,
0:42:09 > 0:42:13123,000 over the guide price for this mid-terrace house
0:42:13 > 0:42:16converted into two flats.
0:42:16 > 0:42:19Their plan was to turn it back to a single dwelling
0:42:19 > 0:42:21and make it their home in just six months.
0:42:24 > 0:42:27Despite damp issues and a major room reconfiguration,
0:42:27 > 0:42:30Michael was confident things would all go to plan.
0:42:32 > 0:42:36- We'll have it ready and sorted in a few months.- He's always confident!
0:42:36 > 0:42:41- Danielle, how do you feel? Michael's really confident. - For me, I think it's huge
0:42:41 > 0:42:47and it's a really big house compared to what we've been living in in the past.
0:42:47 > 0:42:51so Michael's always confident, thinking we can get things done quicker.
0:42:51 > 0:42:57Well, one year has passed and we're back to see if Michael's confidence has paid off.
0:43:05 > 0:43:07You'd never guess this gorgeous family home
0:43:07 > 0:43:09was once two flats.
0:43:13 > 0:43:17They've managed to achieve a light and airy open-plan feel
0:43:17 > 0:43:20whilst still maintaining the overall integrity of the house.
0:43:23 > 0:43:28Fireplaces have been reinstated and fantastic bi-folding doors have been added
0:43:28 > 0:43:30to the brand-new breakfast room,
0:43:30 > 0:43:34really allowing the couple to enjoy their outside space.
0:43:40 > 0:43:42The upstairs now has a gorgeous master bedroom
0:43:42 > 0:43:47while the huge room at the back which had that lovely green shower room,
0:43:47 > 0:43:50has been divided into a bathroom at the back...
0:43:52 > 0:43:56..and a spacious second bedroom to the front.
0:43:56 > 0:44:00What was the kitchen in the second flat is now a pretty pink nursery
0:44:00 > 0:44:05belonging to four-month-old Siena who was a happy surprise for the couple!
0:44:05 > 0:44:10It's wonderful. It's great. It's more than I would have imagined a year ago.
0:44:12 > 0:44:14It was a bit of a shock and a bit of a worry.
0:44:14 > 0:44:20However, we did think that we would have the house in a good liveable state
0:44:20 > 0:44:22before she arrived.
0:44:22 > 0:44:25But as it turned out, we were still rushing
0:44:25 > 0:44:28to get carpet laid, walls painted,
0:44:28 > 0:44:31and the kitchen fitted before she arrived!
0:44:31 > 0:44:34- We only just did it, didn't we? - Only just did it, yes.
0:44:34 > 0:44:39So all in all, it's been a pretty hectic 12 months for Danielle and Michael.
0:44:39 > 0:44:42And Siena's arrival wasn't the only change in plans.
0:44:44 > 0:44:46We did have a lot of problems with the builders.
0:44:46 > 0:44:49They didn't meet our expectations.
0:44:49 > 0:44:55And in the end, we had to find other builders to get us through.
0:44:55 > 0:44:58The biggest rush was because of Siena arriving.
0:44:58 > 0:45:02So we just had to look elsewhere.
0:45:02 > 0:45:06The biggest mistake we made was not getting dates from our builders.
0:45:06 > 0:45:12We ended up paying over the odds for labour that kept extending on and on and on.
0:45:12 > 0:45:19As Michael suspected, the entire ground floor was completely rotten and had to be ripped up.
0:45:19 > 0:45:21In fact, that wasn't a huge hindrance
0:45:21 > 0:45:25as a massive RSJ had to be fitted to support the load-bearing walls
0:45:25 > 0:45:27in the new open-plan downstairs.
0:45:27 > 0:45:30The beams were so heavy
0:45:30 > 0:45:34it meant excavating down three metres to increase the depth of the footings.
0:45:34 > 0:45:39Thankfully, the damp issue in the back room was minor by comparison.
0:45:43 > 0:45:46We had a specialist come in, a damp specialist,
0:45:46 > 0:45:48who came and did some tests on the wall.
0:45:48 > 0:45:51He said it's definitely coming from the other side,
0:45:51 > 0:45:55so we spoke to the neighbour, they had a look at it and they re-routed a water pipe
0:45:55 > 0:45:59which was going through the cement slab. That fixed it straight away.
0:45:59 > 0:46:03It just dried up within weeks, didn't it?
0:46:03 > 0:46:05So it was a nice easy fix.
0:46:07 > 0:46:11Well, at least something went according to plan for them.
0:46:11 > 0:46:14It took an extra six months on top of the six they'd hoped
0:46:14 > 0:46:18and nearer 95,000 than 80,000 to do the work.
0:46:18 > 0:46:21But Michael's still pleased with their investment.
0:46:23 > 0:46:27From looking at some houses that have come up for sale on the street,
0:46:27 > 0:46:31I think we did quite well and got it for a really good price.
0:46:33 > 0:46:37Danielle and Michael paid £308,000 for the property
0:46:37 > 0:46:41and spent a further £95,000 making it into their family home.
0:46:41 > 0:46:47That makes a total outlay of just over £400,000
0:46:47 > 0:46:49plus legal expenses.
0:46:49 > 0:46:52Let's see if two local agents think it was a good buy.
0:46:53 > 0:46:55Amazing. Very surprised when I came in
0:46:55 > 0:46:57because a lot of people,
0:46:57 > 0:47:02especially to these smaller Victorian houses, they open up all the rooms, all open plan,
0:47:02 > 0:47:05and you lose a lot of the integrity of the house.
0:47:05 > 0:47:09Here, they've done that but kept the separation of the different areas
0:47:09 > 0:47:13and it looks fantastic. When you walk around, it feels really big.
0:47:13 > 0:47:18It's an ideal purchase in what is actually a very good street locally.
0:47:18 > 0:47:21It's close to the dome, close to the river,
0:47:21 > 0:47:24and the regeneration going on in the local area is phenomenal.
0:47:24 > 0:47:26It's a very good investment.
0:47:26 > 0:47:30So how does all this praise translate to value?
0:47:31 > 0:47:36In the current market, we'd look to sell this around the £450,000 mark.
0:47:36 > 0:47:41My opinion of the value of this property, considering what we've sold locally and what's available,
0:47:41 > 0:47:45would be £455,000.
0:47:46 > 0:47:49That's a potential profit of over 40,000.
0:47:49 > 0:47:53Hopefully, that makes up for some of the stress of the past 12 months.
0:47:54 > 0:47:58Yeah, definitely do it again. Make a few changes,
0:47:58 > 0:48:02like try not to live in the property while we were doing a lot of the work.
0:48:02 > 0:48:04But it's definitely been worthwhile.
0:48:04 > 0:48:07Yeah, we'd definitely buy at auction again, I think.
0:48:07 > 0:48:10I think they've done a fantastic job.
0:48:10 > 0:48:13I'm sure they won't be in a rush to move on from here.
0:48:14 > 0:48:18No, it's really good. It's cosy and it's warm
0:48:18 > 0:48:22and now it really, really does feel like home.
0:48:30 > 0:48:32Earlier in the show, we met Eric
0:48:32 > 0:48:35who had just bought this derelict farmhouse
0:48:35 > 0:48:41set in nearly three acres of land, at auction for £292,000.
0:48:41 > 0:48:44£62,000 over the guide price.
0:48:45 > 0:48:49Not only was he planning to renovate the farmhouse for his wife and himself to live in,
0:48:49 > 0:48:55but also to convert the existing barn into a home for his son and his family.
0:48:55 > 0:48:58But it wasn't the building that was exciting Eric,
0:48:58 > 0:49:02it was all about the land and the potential for an amazing garden.
0:49:02 > 0:49:05I go in the garden, I'm totally relaxed.
0:49:05 > 0:49:09I forget everything. Never mind psychologists!
0:49:09 > 0:49:13Go in the garden! It's cheaper and it's much more enjoyable.
0:49:13 > 0:49:16I think you're very right. Absolutely.
0:49:16 > 0:49:19As he was undertaking such a huge project,
0:49:19 > 0:49:22Eric didn't impose a strict timescale,
0:49:22 > 0:49:26but hoped to have the farmhouse in a habitable state within 18 months.
0:49:26 > 0:49:32Well, it's now almost two years to the day since we were last here.
0:49:36 > 0:49:39Oh. Has anything changed?
0:49:41 > 0:49:44Very little as far as the buildings are concerned,
0:49:44 > 0:49:47due to planning regulations et cetera.
0:49:47 > 0:49:52But as far as the garden's concerned, I've built a successful vegetable patch.
0:49:54 > 0:49:57Well, it's a bit more than a mere vegetable patch.
0:49:57 > 0:50:00Eric has created a little haven
0:50:00 > 0:50:03and it's clearly his pride and joy.
0:50:04 > 0:50:06# I'm gonna live where the green grass grows
0:50:06 > 0:50:09# Watching my corn pop up in rows
0:50:09 > 0:50:11# Every night... #
0:50:11 > 0:50:15Well, in here you've got the four beds
0:50:15 > 0:50:17for my grandchildren.
0:50:17 > 0:50:20And the first one, that's Ollie's.
0:50:20 > 0:50:23He presented me with his first courgette, and he was so proud
0:50:23 > 0:50:26that Granddad could have a courgette.
0:50:28 > 0:50:31Ollie, Raffie, Harry and Louis
0:50:31 > 0:50:34have all been helping out whenever they can.
0:50:37 > 0:50:41It's been quite hard work because it means a lot of digging and moving tons of soil.
0:50:41 > 0:50:46But actually it's very enjoyable, so it doesn't matter.
0:50:46 > 0:50:50So things are definitely progressing in the garden.
0:50:50 > 0:50:53But this is Homes Under The Hammer, so what about the property?
0:50:55 > 0:51:01Well, Eric has had plans drawn up but has not yet shown them to the council.
0:51:01 > 0:51:06He estimates it would cost him £25,000 to submit them
0:51:06 > 0:51:09so understandably, he doesn't want to go ahead
0:51:09 > 0:51:11until he's sure they will be approved.
0:51:11 > 0:51:14Eric's discovered the farmhouse is 18th-century
0:51:14 > 0:51:17and Grade II listed by English Heritage.
0:51:17 > 0:51:20All the buildings on this plot fall under this listing.
0:51:20 > 0:51:24He's more likely to get planning permission for the farmhouse.
0:51:24 > 0:51:28He wants to restore it sympathetically and add a link extension
0:51:28 > 0:51:32with disabled access for his wife, making one-level living possible.
0:51:32 > 0:51:36As for the outbuildings, Eric thinks they're beyond repair.
0:51:36 > 0:51:38Even though they are listed, too,
0:51:38 > 0:51:44he wants to demolish them and build an ultra-modern eco-friendly house for his son and daughter-in-law
0:51:44 > 0:51:49with underground parking to reduce its footprint and impact on the land.
0:51:49 > 0:51:52It is purposefully designed to be a family house.
0:51:52 > 0:51:55It is not designed to be ultra flashy
0:51:55 > 0:51:59because it's in a nice surrounding and I want it to blend.
0:51:59 > 0:52:03Even the roof lines and the roof angles are lowered
0:52:03 > 0:52:08so that we blend in with the rest of the structures, the existing structures.
0:52:08 > 0:52:11It will certainly have a wow factor
0:52:11 > 0:52:16with a swimming pool, and a balcony in the master bedroom for enjoying those fantastic views.
0:52:16 > 0:52:19But being listed isn't Eric's only hurdle.
0:52:19 > 0:52:23He's also discovered the building is on a green belt site
0:52:23 > 0:52:28and guidelines stipulate that anything new must be of an exceptional standard.
0:52:30 > 0:52:34The problem with the "exceptional" description, I don't know what that is.
0:52:34 > 0:52:38Because I don't do any rubbish. I only build quality.
0:52:38 > 0:52:40I would only build quality for my family.
0:52:40 > 0:52:44But what is "exceptional" quality to the planners, I don't know.
0:52:45 > 0:52:50It won't be easy getting planning permission for a listed building on a green belt site
0:52:50 > 0:52:53with access problems from a busy main road.
0:52:57 > 0:53:00Let's see if two local estate agents agree.
0:53:00 > 0:53:05Eric paid £292,000 for the farm two years ago.
0:53:05 > 0:53:09He's since spent about £22,000 on the garden
0:53:09 > 0:53:11and having architect's plans drawn up.
0:53:11 > 0:53:13So has it been worth it?
0:53:15 > 0:53:18I think the designs are fabulous if he can get them passed.
0:53:18 > 0:53:23I think to actually get planning passed, in the easiest manner possible,
0:53:23 > 0:53:25I would drop the plans for the barn,
0:53:25 > 0:53:28keep the current property, renovate it and maybe add to it.
0:53:28 > 0:53:30Apart from the noise from the road,
0:53:30 > 0:53:33the access is quite bad.
0:53:33 > 0:53:36The planners will find it very difficult
0:53:36 > 0:53:39to allow another dwelling to be built.
0:53:39 > 0:53:44The farmhouse is existing so they will allow that usually to be refurbished
0:53:44 > 0:53:46but the barn could cause a problem.
0:53:46 > 0:53:51It's certainly not straightforward and I wouldn't blame Eric if he sold up as things stood.
0:53:51 > 0:53:55He's already forked out £314,000.
0:53:55 > 0:53:58I think in its current state,
0:53:58 > 0:54:01it's probably in the region of £250,000.
0:54:01 > 0:54:05As it stands now, in the region of £300,000.
0:54:05 > 0:54:08If the first valuation was correct,
0:54:08 > 0:54:10it means I've lost quite a lot of money.
0:54:10 > 0:54:13But it was never about the money.
0:54:13 > 0:54:16There's no chance of Eric giving up now.
0:54:16 > 0:54:20But if he gets planning permission, this would be quite a costly project
0:54:20 > 0:54:22for him to project manage.
0:54:22 > 0:54:25He estimates the farmhouse renovation with extension
0:54:25 > 0:54:28will cost him around £150,000.
0:54:28 > 0:54:32Whilst the barn would cost a minimum of £400,000.
0:54:32 > 0:54:36Added to the £314,000 he's spent so far,
0:54:36 > 0:54:39plus the £25,000 he needs to submit the plans,
0:54:39 > 0:54:44that's a projected total spend of £889,000.
0:54:44 > 0:54:47So, if everything goes ahead as planned,
0:54:47 > 0:54:48what could it all be worth?
0:54:51 > 0:54:57The farmhouse, if fully renovated, we assess the value to be in the region of £500,000, possibly more.
0:54:57 > 0:55:01The barn, subject to getting the planning permission,
0:55:01 > 0:55:05we would estimate to be a minimum of £750,000
0:55:05 > 0:55:07and possibly up to one million pounds.
0:55:07 > 0:55:12Impressive figures. But there's also an opinion that if both buildings were developed,
0:55:12 > 0:55:17the farmhouse value could be significantly less as it would now have close neighbours
0:55:17 > 0:55:20and the barn would take the majority of the land.
0:55:20 > 0:55:23If they got the planning based on the drawings that I've seen,
0:55:23 > 0:55:27I'd think the farmhouse is worth in the region of £300,000
0:55:27 > 0:55:30and the barn in the region of £800,000.
0:55:30 > 0:55:33These valuations of over one million for both properties
0:55:33 > 0:55:37could see Eric with a potential pre-tax profit in the future
0:55:37 > 0:55:43of between 211 and £611,000.
0:55:43 > 0:55:45These figures are very speculative
0:55:45 > 0:55:48but what does he think?
0:55:48 > 0:55:52They're values. Some of them are astronomical million values.
0:55:52 > 0:55:55They're just values. They have so little value to me.
0:55:55 > 0:55:57Monetarily, they're of interest.
0:55:57 > 0:56:03Because I don't intend to sell it. I intend to develop and my family to live in there.
0:56:03 > 0:56:06Most probably, they'd be of interest to my children
0:56:06 > 0:56:08or maybe grandchildren.
0:56:08 > 0:56:12Eric's designs are adventurous and very well thought through.
0:56:12 > 0:56:16If the planners and conservationists consider them to be exceptional,
0:56:16 > 0:56:18he may get the permission he wants.
0:56:18 > 0:56:22I intend to do it and it will be exceptional in my eyes.
0:56:22 > 0:56:25Whether it's in the planners', I don't know.
0:56:25 > 0:56:30But I will submit the plans at the end of this year or beginning of next year,
0:56:30 > 0:56:33formal, with all the necessary application,
0:56:33 > 0:56:36with professional backing. We'll see what happens!
0:56:39 > 0:56:42Well, Eric has passion by the bucket-load
0:56:42 > 0:56:45and optimism to go with it when it comes to his plans.
0:56:45 > 0:56:50He's an inspiration and I really hope his dreams come to fruition.
0:56:57 > 0:57:01We'll have lots more auction properties to show you next time.
0:57:01 > 0:57:07- Join us then to find out what happens when that hammer comes crashing down!- Join us then!
0:57:28 > 0:57:31Subtitles by Red Bee Media Ltd