Episode 42 Homes Under the Hammer


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Episode 42

Martin Roberts and Lucy Alexander visit a three-bedroomed terraced property in Accrington, Lancashire, a property in need of full-scale renovation in Kent and a barn in Devon.


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Transcript


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Hello and welcome. When you buy at auction,

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just a nod of a head or a wink of an eye and you could end up with a property.

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Whatever you end up with, you've got to decide are you going to live in it,

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turn it for a quick profit and sell it on

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or keep it as a long-term investment?

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Lots of options. Let's find out what happens on today's show.

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Buying under the hammer can be a quick and efficient way to purchase property.

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But whatever you do, make sure you do your homework,

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otherwise it'll be a case of act in haste, repent at leisure.

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Let's see what inspired our buyers on today's show.

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'In Devon, it's not just the location of this lot that excites me.'

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As barn conversions go, this is looking fantastic.

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'This house in Sittingbourne, Kent, has an odd layout so you don't know if you're coming or going.'

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It's almost like the house is the wrong way round.

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'And in Accrington, there's a grand-looking house with an interior that's far from it.'

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But see through that to what it could be. You know what? It's brilliant!

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'All these properties went to auction and we'll find out

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'who bought them and what they paid when they went under the hammer.'

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-HAMMER BANGS

-Well done.

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I'm in Devon in an area of outstanding natural beauty known as the South Hams.

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You've got Dartmouth that way, Kingsbridge that way,

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Plymouth's only 30 miles away, and you've got this kind of scenery.

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It is incredible. Not surprisingly, it's a highly desirable place to live.

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'It is truly beautiful and it's where we find today's property

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'in the village of Chillington, tucked away in this lush rural setting.'

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Well, apart from the scenery and the wildlife, this is what I'm here to see.

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It's a two-storey barn set in around one and a half acres of land.

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It had a guide price of £185,000, which sounds like quite a lot

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until you know that it had planning permission for conversion and extension. Ooh! Now it's exciting!

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# May I sleep in barn tonight, mister?

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# It's so cold lying out on the ground

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'From the outside, this barn looks in remarkably good condition.

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'Let's hope it's equally attractive inside.'

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I have to say, I'm really impressed with the external condition. The brickwork is great nick.

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Then through the door of the barn, you've got two rooms, basically, and two levels.

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This room on the left. But of a higgledy-piggledy floor, but it's not a bad space.

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Then a similar-sized room this side. But the thing that's getting me really excited

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is the fact that you've got reasonable-sized windows.

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When it comes to actually getting barns converted into places to live,

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one of the biggest issues is they hate it when you put new windows in.

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But here you've got the windows in place already. You've got a big door on that side. It's looking great.

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I also really like the head height. Really nice and high. You will dig out the floor a bit

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and put in some kind of damp-proof course, but apart from that, as barn conversions go,

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this is looking fantastic!

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'And the news gets even better on the first floor.

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'There are solid floorboards, some great-looking roof beams and a skylight window, as well.'

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But, of course, when it comes to converting something like this,

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there are rules and regulations by the bucketload,

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especially in an area of outstanding natural beauty like this,

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so you're going to have to talk to the conservation officer, the local planners,

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it all gets very complicated. However, the good news is somebody's already done that for you

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cos the plans have been passed, and they include things like using the natural stone,

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reclaimed slate work, which is what you'd want,

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and actually building something which is in keeping with the area,

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which again is something that you'd absolutely want.

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'From the plans, you can see the extension that's been approved as part of the barn conversion

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'is going to be constructed below the existing level of the floor.

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'It will house a utility room.

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'The front of the extension will have lots of glass to maximise the views across the field.

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'The pitch of the barn's roof will continue down over the extension,

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'so softening the impact on the surroundings.

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'We invited a local estate agent

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'to give us his opinion of the opportunity here.

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'This is a lovely barn

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'with that all-important planning permission for conversion and extension.

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'It had a guide price of £185,000.'

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The plans that the property's been sold with are actually quite interesting.

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It's a very good use of the space.

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It still retains three bedrooms, a couple of bathrooms,

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a good open-plan living space and it makes use of the natural gradient,

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so you have an interesting split level as well as useful accommodation.

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'So, with his experience of local barn conversions,

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'how much does the expert think that this one could cost?'

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If the current plans are utilised by the purchaser, I would imagine

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to renovate it to a good standard would be probably between £150,000 to £200,000.

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'Once the barn has been converted in accordance with planning permission and conservation regulations,

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'how much could it be worth?'

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Once the property is renovated and if a good standard is achieved,

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I'd imagine the resale value being somewhere in the region of £450,000.

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Well, lots of work to do to get this place sorted out

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but the hard job as far as I'm concerned has been done

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because it has got planning permission. And what would you create?

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An amazing place to live or potentially somewhere that you could rent out as a holiday let.

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So is it worth it? Oh, yes, it's definitely worth it.

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Let's see who fancied it when it went under the hammer.

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58, a pretty detached two-storey stone barn,

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consent for conversion and extension to create a highly desirable...

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There's the makings of a wonderful house there.

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185, guide price, that's where we're going to go. 185. Two hands.

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185.

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188. 188.

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190. 190. At 190.

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192. 192. At 192.

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194. 196.

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198.

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200.

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202. 202. 202.

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204.

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206. I know he's right next to you but he's allowed to be. 208. 208.

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210. At 210.

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212. 214.

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15? Think of the home. 216.

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217.

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218.

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218 and a half.

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219.

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219 and a half.

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220. Straight in.

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At 220. At 220.

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At 220 once. At 220 twice.

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You're both out at 220, it's going to be sold at 220.

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-And done.

-HAMMER BANGS

-Good bidding, sir. 220. Well done.

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'That final bid of £220,000 was made by Colin and his wife Carol.

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'They come from a farming background, so converting a barn should be right up their street.

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'I caught up with them to talk through their plans.'

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-Colin, Carol, lovely to meet you both. Congratulations.

-Thank you.

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This has such fantastic potential, doesn't it?

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-Yes.

-We thought so, didn't we?

-Yeah, we did.

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-Tell me why you wanted to buy it.

-There's several different reasons, really.

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We were looking for a home for ourselves

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and we thought that this would be ideal.

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And the other thing is, we own the barn next door, which we actually rent out to holidays.

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-Which barn?

-The one on the right-hand side.

-Oh, right! OK.

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-So you're the immediate neighbours!

-We are. And we also recently,

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beginning of the year, bought the lane and the field next to the barn, as well.

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-So it really was worthwhile considering purchasing it, wasn't it?

-It was, yeah.

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-Wow. Absolutely ideal for you, then, cos you own everything in this little area.

-Yeah.

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We do now, yes.

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So what do you think about it as a project?

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-We're really excited, aren't we?

-Yeah, we are.

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We're really looking forward to it because we're actually doing this for a project for us to live in,

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-so that's really quite different to doing it to sell on.

-Yeah.

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What kind of experience have you had up to now of construction?

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Well, we were farming for 30-odd years

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and then 15 years ago, we bought a barn complex where we live now

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and we've got a holiday complex there,

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built a bungalow on the farm and then we built two houses in East Allington.

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The daughter's in one of them. And obviously this barn here, the top one. So a little bit of experience.

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'A wealth of experience, I'd say.

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'As well as their holiday home at the top of the plot, they already own the next field

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'and have recently bought the road access to the plot, as well.

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'So they're perfectly placed to take on this barn conversion.'

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So tell me what your plans for this place are, then.

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The size of the barn, there'll be another size going on it, as well.

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-Wow.

-So it'll be a something-hundred square feet three-bedroom house.

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'The couple plan to stick to the approved external plans

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'but they hope to make some alterations internally

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'which will involve rethinking where the kitchen and lounge will be.

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'The previous owners had a two and a half year wait to get planning permission for this plot

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'so, in my opinion, Colin and Carol would be wise not to try and deviate much from what's been approved.'

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-What's your involvement going to be in all this?

-Well, we like to add different aspects to the projects.

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Colin's got responsibility for the overall project.

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But my involvement will be the interior design and things like that. It works very well.

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We both know each other's strengths and the plan is just to work to that, really.

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-Right.

-So that's how we hope to do it.

-And do you have to reign him in a bit?

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Erm, at times.

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What normally happens, I've got all the ideas

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and Carol says, "I'm not sure about that"

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and we have a talk about it for 20 minutes and then we decide I was right.

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THEY LAUGH And that's how we work.

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'The couple have already roped in friends and family to help them complete the work.'

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This could be a dining area here.

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'That should save them quite a lot of money.

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'But how much do they think they're going to have to spend?'

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Around £120,000.

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That's what we think we can do it for.

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I do all the buying and the son-in-law's got the diggers.

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What kind of timescale are we looking at to get it sorted?

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-I'd like to think we would finish in eight months.

-Wow.

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It's worked just right because my son-in-law's finishing on a site

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-and he's moving in here tomorrow.

-Oh, really?

-Yeah. So we'll be right on with it.

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-You must be delighted in general.

-Absolutely delighted.

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I'm really excited about the barn because it's in such good condition, isn't it?

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-It is.

-You've got a good one. Congratulations.

-Thank you, Martin.

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-I look forward to seeing how you get on.

-Yeah, that's right.

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Well, Colin and Carol have got themselves a fantastic property here

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and it's ideal for them, especially given what they own in the immediate vicinity.

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Still, that budget seems a little bit tight,

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even if Colin and their family are going to do a lot of the work.

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Will they manage to stick to it? And what will they build in this beautiful location?

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You can find out later in the show.

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'This is Sittingbourne, a town in Kent about eight miles east of Gillingham.

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'In the Middle Ages, it was a favourite place for pilgrims to take a rest on their way to Canterbury

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'and it's still a popular commuter town. You can get to central London by train in around an hour.'

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The house I'm here to see today is on this neat little development.

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It's almost got a villagey green feel to it.

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You've got this lovely old period college behind me,

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a really nice house here, another nice house here.

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And yes, you've guessed it, the auction house I'm here to see today is there!

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Sticks out like a sore thumb, doesn't it? Yep!

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# Blue moon

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# You saw me standing alone

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Well, here it is. It's a three-bedroom detached house

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which once housed the caretaker for the nearby college.

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Now, I admit it, I'm not a huge fan of 70s architecture

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and this house does look a bit different from the others,

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but on the positive side, it is on a good plot, it's surrounded by beautiful Kent countryside

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and it looks like it's got quite new UPVC double-glazed windows.

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Shall we see if it's a little more to my taste on the inside?

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'This property also has another plus point.

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'It's guide price was £215,000 to £220,000.

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'That's relatively cheap for a three-bed property in this part of the country.'

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Ooh. Well, there's certainly no wow factor walking in here.

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Really small kitchen with touches of pink.

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It just feels rather narrow.

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A little bit boxy, as well, partitions everywhere.

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And it feels as though you've walked in through the back door

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and this look like the front door.

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So it's almost like the house is the wrong way round, which is rather strange.

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But good news, you've got a really big reception room here.

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This is what I like to see, loads of space, great views out of both windows.

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Not many features. Lots of woodchip everywhere. A little bit disappointing for me.

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# Back to front

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'It turns out that when this property was built, it was designed to face onto the then access road

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'with the college and green behind. But when the development was built behind it,

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'a new access road was also built, so the new houses looked out onto the college green,

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'leaving this one seemingly the wrong way round.

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# Back to front

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OK, let's see what the upstairs has to offer.

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There's a champagne bathroom suite with a corner bath. Not to everybody's taste.

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And three bedrooms. Two not a bad size, one small box room.

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I don't know what it is about this house, but it just feels like you could push the walls over.

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It's got a real sort of cardboard-boxy feel to it.

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Something else I've noticed upstairs, no central heating.

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So all in all, there's just such a lot of work to do.

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Great location, but the house, could do better.

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'Yes, this caretaker's lodge might need to go back to college

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'before it'll get top marks on appearance and finish.

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'All the bedrooms are OK and the bathroom certainly needs updating,

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'but I think a more radical approach is called for.'

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Now, one thing that is attractive about this house is that it offers plenty of potential to extend.

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Under new regulations, there is a certain amount of permitted development allowed

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that you can do without having to go through planning.

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With this house, it makes sense to extend to the side. There's plenty of room here.

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You could add a single storey under permitted development.

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Of course, there are sometimes exceptions to every rule,

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so it's always best to contact the local planning office first to discuss your proposal.

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'There are some definite plus points here.

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'It's certainly a good-size plot which gives plenty of room for expansion

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'and still leaves a decent-size garden.

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'You even get a greenhouse, a boat and a caravan. What more could you want?

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'So with a guide price of £215,000 to £220,000,

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'what does the local estate agent make of this back-to-front building?

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'Is it worth adding more square footage here?'

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Definitely worth extending. I would recommend that they extend

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maybe a two-storey to make extra bedrooms

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and extend downstairs to make a bigger kitchen.

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'It sounds like an extension is definitely the way forward here.

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'Bearing in mind that guide price of £215,000 to £220,000,

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'what could the property sell for?'

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If the property was renovated and had the two-storey extension,

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then you would be looking at a value of approximately £285,000 to £290,000.

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However, if it was in its current position and current state but renovated,

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then you'd probably be looking around about the £250,000 mark.

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This sad 70s house is less dazzling disco diva

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and more worn-out wallflower. It definitely needs an update!

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But there is potential here and there's plenty of room to improve.

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You can extend or even potentially knock down and redevelop.

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So who was ready to take this house in hand? Let's find out when we head to auction.

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Lot 45. Start me at 200.

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At 200. 200, I'm on the way. At 200 I'm bid.

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200. Now 205. We've got 205 standing.

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210 now. At 210.

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And 15. 215 I've got.

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220 it's against you. 220 I've got.

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225 now. Shake of the head. £220,000 I've got for the first time.

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£220,000 sitting down for the second time.

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220 for the third and final time, if you're sure you're all done.

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Well done, sir. It's yours at £220,000.

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'So for spot on the guide price of £220,000,

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'the 70s Sittingbourne caretaker's house was bought by married couple Bill and Margaret.

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'Bill's a qualified plumber and has worked in the building trade for many years.

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'But this was the couple's first time as auction goers.

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'They just spotted the property on the internet and decided to go for it.

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'I met them back there to find out more.'

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-Guys, congratulations.

-Thank you.

-This is really good news.

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What was it about this house that you liked enough to bid for it?

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The location. It's nice and quiet here. It's close to the town.

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-It's close to my family and granddaughter. South-facing is the main criteria.

-South-facing.

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-The granddaughter...

-And it was south-facing.

-The granddaughter's going to the school up the road.

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Have you bought this house to live in yourselves?

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Yeah. Well, hopefully.

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Do you feel the same way about this house as Margaret does?

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No, I don't. It's just a house.

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She gets too excited about houses. It's just a house!

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To Bill, a house is a house, but I think for a woman, a house is a home

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and I can make this a nice home.

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'After selling their own bungalow a little while ago,

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'Margaret and Bill have been living in rented accommodation and on the look-out for a house,

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'or should that be a home, for some time now.

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'But it doesn't strike me that this is an obvious choice.'

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I've got to be honest, you don't walk into this property and think, "Great house, fantastic layout."

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-It's round the wrong way, for starters.

-Yeah. I don't think that at all.

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I think, I love where it is, I love the garden,

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I love the location and I know he can turn it around for us.

0:20:260:20:31

So, Bill, what makes you the man to be able to turn this house around?

0:20:310:20:34

Well, I've worked in building all my life. I do plumbing, heating. I know most of the trades.

0:20:340:20:40

I'm not worried. There's nothing daunting about it, it's only going to have a bit stuck on the side.

0:20:400:20:46

So this is bricks and mortar to you. You can turn this into whatever you want.

0:20:460:20:50

Yeah. It is, bricks and mortar.

0:20:500:20:52

'With all his years of experience, maybe it's not surprising that Bill just views this as brick and mortar.

0:20:550:21:01

'But I'm intrigued to know what he plans to do to make this pile of bricks more to their liking.'

0:21:010:21:07

Put an extension on the side, put a bigger kitchen on, get rid of that silly little kitchen.

0:21:070:21:12

Then go upstairs, put a bedroom with a nice en suite on the side.

0:21:120:21:16

So I'll do a two-storey extension on it.

0:21:160:21:19

And have a little downstairs cloakroom and then just do the place up.

0:21:190:21:23

-How much money have you go to spend?

-Realistically, we'll go to about £80,000.

0:21:230:21:27

So £80,000 to do your extension and get your extra bedroom and bathroom upstairs.

0:21:270:21:32

-I think that's quite a healthy budget.

-Alter the back a bit. Or the front.

0:21:320:21:36

-And you'll be getting everything at cost price.

-I hope so, yeah.

-And good tradesmen on site.

-Yeah.

0:21:360:21:42

So are you going to be getting up early every morning, coming onto site, getting your team in place?

0:21:420:21:47

-And are you going to be out there choosing colours, tiles, bathrooms?

-Oh, yeah, I'll be directing!

0:21:470:21:52

Tea, coffee, sandwiches, yeah.

0:21:520:21:55

'On top of his full-time plumbing job,

0:21:550:21:58

'Bill will project-manage the work and of course do all the plumbing here.

0:21:580:22:01

'They hope to have it all completed in six to nine months.'

0:22:010:22:05

Aren't you supposed to be taking it a little bit easy, enjoying yourselves,

0:22:050:22:09

-not taking on a huge project like this?

-He will never take it easy.

-This is easy!

0:22:090:22:13

He will never take it easy, full stop. We didn't think we'd be doing it still at this age.

0:22:130:22:18

-95, no!

-But that's the way it's gone, so we don't really mind.

0:22:180:22:23

-Any arguments on the way?

-Oh, hundreds.

-Yeah, loads.

0:22:230:22:26

-Are you a happily married couple?

-Yeah, loads.

-Hundreds!

0:22:260:22:29

-But you get over them, don't you?

-That's what the caravan's for.

0:22:290:22:33

-Cos you know you're going to be out there!

-It's somewhere to live!

0:22:330:22:37

I'll pop in there for a couple of nights, I'll be back again, no problem at all.

0:22:370:22:41

Guys, it's a big project but I think you are both going really enjoy it

0:22:410:22:45

and I can't wait to see what the outcome is.

0:22:450:22:48

-I hope you do live here, Margaret.

-I hope so.

-I think you want to.

-Yep.

0:22:480:22:51

-Well done. Lovely to meet you.

-Thanks.

-Good luck.

-Cheers.

-Well done.

0:22:510:22:55

# I want a brick house

0:22:550:23:00

Bill thinks of this as brick and mortar, just another house.

0:23:000:23:03

And Margaret wants to make this their home.

0:23:030:23:06

So will they be able to transform this place

0:23:060:23:09

and make it somewhere they are both happy to call their own?

0:23:090:23:12

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

0:23:120:23:15

'Coming up, in Accrington, the sorry state of this house will leave you confused.'

0:23:160:23:21

Here's your kitchen. I say that because it needs quite a bit of imagination at the moment.

0:23:210:23:25

'Was working together on their Sittingbourne home a happy time for Bill and Margaret?'

0:23:260:23:31

Stressful moments when he could've strangled me, there's been moments when I could've strangled him.

0:23:310:23:36

'But first, has Carol and Colin's barn conversion done its bit for the local economy?'

0:23:370:23:43

We're really pleased. We've used all local workmen.

0:23:430:23:46

'Earlier in the programme in the Devon village of Chillington,

0:23:480:23:52

'local farmer Colin and his wife Carol

0:23:520:23:55

'paid £220,000 for this dilapidated stone barn set in one and a third acres.

0:23:550:24:01

'It had planning consent for conversion and extension.

0:24:010:24:04

'Their plan was to convert the barn and move in and make it home.'

0:24:040:24:09

Colin's got responsibility for the overall project

0:24:120:24:15

but my involvement will be the interior design.

0:24:150:24:20

-Do you have to reign him in a bit?

-I've got all the ideas

0:24:200:24:23

and Carol says, "I'm not sure about that"

0:24:230:24:26

and we have a talk about it for 20 minutes and then we decide that I was right.

0:24:260:24:32

That's how we work.

0:24:320:24:34

'Well, it's now 14 months later.

0:24:340:24:37

'The original desolate barn has been converted into a magnificent country house.

0:24:400:24:46

'As you move around the property, the first glimpses of the extension appear

0:24:480:24:52

'but the full impact isn't apparent until you reach the back.

0:24:520:24:55

'Where the stunning oak extension is clearly visible.

0:24:590:25:03

'Inside on the ground floor, a beautiful living room

0:25:040:25:07

'enjoys wonderful views across the countryside.

0:25:070:25:11

'There's oak everywhere and the build quality is faultless.

0:25:120:25:17

'In the original barn where the cattle once stood...

0:25:240:25:27

'..the conversion has been equally impressive.

0:25:300:25:33

'An exquisite open-plan kitchen/diner has been built.

0:25:330:25:36

'There's beautiful slate flooring and oak beams.'

0:25:400:25:44

The kitchen is much larger than we initially anticipated

0:25:450:25:48

because it was originally two separate rooms.

0:25:480:25:51

But we've taken down a wall which went from the other side of the door across the room,

0:25:510:25:56

recycled all the stone and stone walling externally

0:25:560:25:59

and had a hand-painted kitchen. The only thing that we would add

0:25:590:26:03

is just an island here in the centre

0:26:030:26:06

so that we've just got a little bit more worktop and we can speak to our friends and family while they sit

0:26:060:26:12

in the dining area over there.

0:26:120:26:15

'Upstairs in the original barn, there are now two bedrooms, one at each end.

0:26:220:26:27

'Plus a shared bathroom.

0:26:330:26:35

'Everywhere there are oak timbers and wooden floors.

0:26:390:26:42

'As you step into the new extension, you find the huge master bedroom.'

0:26:460:26:52

To comply with building regs, we actually had to bring the landing through into the bedroom

0:26:520:26:57

and have some form of steps down into the bedroom.

0:26:570:27:00

But I think it's turned out to be a really nice, unique feature of the room now

0:27:000:27:05

so I'm really pleased with it. There's a nice big area here for the bedroom.

0:27:050:27:10

We don't need a lot of furniture because through there we've got a dressing room

0:27:100:27:15

and then we've got our own bathroom, shower room and en suite to the side, and well.

0:27:150:27:20

'Before any building work could start, the surrounding land had to be prepared,

0:27:210:27:26

'so Colin roped in the family.'

0:27:260:27:29

Me and my son-in-law, we started doing the roadway and clearing the fields.

0:27:290:27:34

My brother, Philip, he came to help with foundations.

0:27:340:27:37

And then the chippies came in and started to put the roofs on.

0:27:370:27:41

We're really, really pleased. We've used all local workmen

0:27:410:27:44

and we've used the different skills. We're not builders ourselves.

0:27:440:27:48

Colin has managed the whole project.

0:27:480:27:50

'The oak timbers were sourced from Europe but a local mill, about five miles away,

0:27:510:27:56

cut the timber and it was assembled on site.

0:27:560:27:59

I just can't believe what we've actually done here thanks to all the men, really.

0:27:590:28:05

And when it comes to the workmanship, they're in a league of their own.

0:28:050:28:09

'Apart from the house, a separate garage has also been built,

0:28:090:28:13

'blending perfectly with the former barn.

0:28:130:28:15

'Originally they didn't plan to use oak in every room,

0:28:160:28:20

'but having decided to make it a feature, what effect did it have on their budget of £120,000.'

0:28:200:28:27

It cost around £165,000 in the end

0:28:270:28:30

and that's with all the legal fees, the architect fees, all the fees included.

0:28:300:28:35

'Well, an overspend, but on this project, you can clearly see where the money's gone

0:28:350:28:39

'and I think they made the right decision.

0:28:390:28:42

'Do they still intend to make this their home?'

0:28:420:28:45

The plan is that we'll move in ourselves within the next month.

0:28:450:28:49

There's just a few more jobs that we'd like to finish.

0:28:490:28:52

'Time to see what two local property experts think of the barn conversion

0:28:520:28:56

'with its superb extension and lovely views.'

0:28:560:29:00

I'm very, very impressed. They've used a lot of very nice materials

0:29:000:29:05

in terms of the light oak. They've created a very light feel.

0:29:050:29:09

I particularly like the rounded reveals on the render, actually.

0:29:090:29:12

It's really good attention to detail.

0:29:120:29:15

Personally, I like a house that flows,

0:29:150:29:17

rather than doors you've got to keep opening and hallways

0:29:170:29:20

and here you've got the kitchen and the breakfast/dining area

0:29:200:29:23

and then it flows into the living room where I don't think I'd bother turning the telly on,

0:29:230:29:28

-I'd just want to look out of the windows.

-The land is a big bonus,

0:29:280:29:32

bearing in mind that the main accommodation looks out onto the land, it's a great amenity.

0:29:320:29:37

There's an obvious level of quality of work and materials.

0:29:370:29:41

But when you look at the little stuff,

0:29:410:29:43

they've really thought about this and done just an amazing job.

0:29:430:29:47

'What's the value of the property now? Remember, Colin and Carol paid 220 grand at the auction

0:29:470:29:52

'and have spent £165,000 on it,

0:29:520:29:55

'making a grand total of £385,000.'

0:29:550:30:00

If we had to put this up for sale, I would be talking about an asking price of £575,000.

0:30:000:30:08

The house and its grounds and its land is worth over half a million pounds.

0:30:080:30:12

I'd probably ask £595,000 and then negotiate hard to get as close as I could to that.

0:30:120:30:19

'Wow! That valuation range could give Carol and Colin

0:30:190:30:22

'a staggering pre-tax profit of somewhere around the £200,000 mark.

0:30:220:30:27

'Is that what they were hoping for?'

0:30:270:30:30

It's roughly what I would've thought it would've been.

0:30:300:30:33

-I didn't expect it to be any less than that.

-No.

0:30:330:30:37

I think, after a couple of years of growth in the gardens,

0:30:370:30:40

it will be worth all of that.

0:30:400:30:43

'Would they contemplate taking the profit, or after all their hard work,

0:30:430:30:47

'is this property just too nice to leave?'

0:30:470:30:50

No, we're not tempted to sell. We're going to make this our home.

0:30:510:30:55

We feel it's unique and it would be difficult to get another barn to convert with land surrounding it.

0:30:550:31:00

I wouldn't change anything about it at all.

0:31:000:31:03

It would be done exactly as it's done if I had to do it again.

0:31:030:31:07

'I'm in the Lancashire town of Accrington now on the western edge of the Pennines,

0:31:120:31:16

'20 miles north of Manchester.'

0:31:160:31:19

Famous probably for, amongst other things, Accrington Stanley Football Club,

0:31:190:31:23

but more importantly, as the centre of the mill industry in the north in the 1800s.

0:31:230:31:30

And a lot of character still remains.

0:31:300:31:35

'Accrington may no longer be the centre of the material world,

0:31:360:31:40

'but judging by the catalogue's description of this property, it's anything but run of the mill.'

0:31:400:31:45

A lot of the social and industrial history of the area

0:31:450:31:49

permeated through to the housing stock.

0:31:490:31:52

Your basic factory workers would've lived in your two-up, two down terraces

0:31:520:31:56

and your middle management of the time, I suppose your factory foremen,

0:31:560:32:00

would've lived in the kind of house I'm here to see.

0:32:000:32:02

Built in 1843, three-bedroom mid-terrace,

0:32:020:32:06

had a guide price of £55,000 to £60,000. Let's take a look.

0:32:060:32:09

# Got brass

0:32:110:32:14

# In pocket

0:32:140:32:16

'This sort of house was for someone who had a bit of brass in their pocket

0:32:160:32:20

'and could afford something a little more imposing.

0:32:200:32:23

'From the outside at least, it doesn't disappoint.'

0:32:230:32:26

So, great anticipation as you walk through the front door.

0:32:280:32:31

And straight away you're not disappointed.

0:32:310:32:34

It's in a bit of a state but we've got a really grand entrance here,

0:32:340:32:39

nice corridor, and look at some of these features. Love that archway. Get that cleaned up.

0:32:390:32:44

Front sitting room there. Again, pretty shoddy state

0:32:440:32:48

but you could do great things with that. Some original features still there.

0:32:480:32:52

Liking it to start off with.

0:32:520:32:54

Through to your second rear sitting room, I suppose.

0:32:540:32:57

Again, high ceilings. Look at that ceiling rose. Absolutely beautiful.

0:32:570:33:02

This is a classic case of what on those properties there you've got to see through the state that it's in,

0:33:020:33:08

which to be fair, isn't that brilliant.

0:33:080:33:11

But see through that to what it could be. You know what? It's brilliant.

0:33:110:33:15

Right at the rear of the property, you've got what I guess is your kitchen.

0:33:150:33:20

I say that cos you need quite a bit of imagination at the moment. But it's not a bad size space.

0:33:200:33:25

A little area that you could have as a utility room, lots of light through this unusual window area.

0:33:250:33:31

It's obviously going to need completely gutting and sorting out.

0:33:310:33:34

But look. One thing you don't have to replace is the cooker! It's perfect.

0:33:340:33:38

# I like the way you cook

0:33:380:33:40

# The whole production and how you serve it up

0:33:400:33:44

# The whole seduction...

0:33:440:33:46

'Oh, dear. This really is in a sorry state.

0:33:460:33:50

'There's damp all over the place and the house is beginning to rot.

0:33:500:33:54

'As far as the kitchen's concerned,

0:33:540:33:57

'it needs to be completely stripped back and started again.

0:33:570:34:00

'There's really very little worth saving.

0:34:000:34:02

'But the rest of the downstairs is more encouraging, with some fantastic plasterwork on the ceiling

0:34:020:34:08

'and those old ceiling roses.

0:34:080:34:10

'There are some stunning features hidden beneath the grime and decay.'

0:34:100:34:15

So, upstairs and there's a real great feeling of space,

0:34:150:34:19

really high ceilings even up here on the first floor.

0:34:190:34:21

And a bathroom. That's great to see. Lots of room in there.

0:34:210:34:26

Clearly, again, total refurbishment required, but at least you've got the space to do it.

0:34:260:34:31

One thing you'll have to sort out straight away in this banister.

0:34:310:34:34

It's way dangerous, especially if you've got children, they could topple over there.

0:34:340:34:39

So that needs to be sorted out straight away.

0:34:390:34:42

Stairs, well, a temporary ladder up to the loft. I wonder if you could go up there.

0:34:420:34:46

At the moment, it is only three bedrooms. Not a bad size.

0:34:460:34:50

But I reckon there could be scope to extend upwards.

0:34:500:34:54

Let's have a look at the bedroom.

0:34:540:34:56

'This really is quite an intriguing house and still potentially a great one.

0:35:000:35:06

'The three bedrooms and that enormous bathroom mean this is a good size property.

0:35:060:35:10

'The outside space is a bit disappointing with just a small yard at the back.

0:35:100:35:15

'But at what was a guide price of £55,000 to £60,000,

0:35:150:35:19

'I reckon this has potential to be a successful development purchase.

0:35:190:35:23

'What does the auctioneer who sold it think?'

0:35:230:35:26

It needs a full overhaul. I think I'd start at the top and work down.

0:35:270:35:30

The roof needs checking. It's been so long since

0:35:300:35:33

it's had anything done to it.

0:35:330:35:35

It needs a damp-proof course, electrics, central heating. It needs ripping out and starting again.

0:35:350:35:40

'Clearly there's an enormous amount of work to be done on the house.

0:35:400:35:45

'Its location is good and it's got three bedrooms.

0:35:450:35:47

'So once done up, how would it fair if rented out?'

0:35:470:35:51

I think probably, for rental, about £500 per calendar month.

0:35:510:35:55

'And if it was sold on?'

0:35:550:35:58

I think once the property is renovated, we're probably looking at a value of £110,000 to £115,000.

0:35:580:36:04

Well, it may be in a bit of a state now, but in its day, this would've been a really grand house

0:36:050:36:10

and I think, spend a bit of money on it and you could get it back into its glory days.

0:36:100:36:14

Let's see who fancied it when it went under the hammer.

0:36:140:36:17

Lot 135. 40,000 anywhere?

0:36:200:36:24

40 I've got there. 45 we're looking for.

0:36:240:36:27

45. 45 I've got there.

0:36:270:36:29

50 now we're looking for. 50 off you, sir, far right.

0:36:290:36:33

55 we're looking for. I've got it.

0:36:330:36:36

60? Is that 60, sir?

0:36:360:36:38

It is. 60,000. 65, then.

0:36:380:36:40

65 I've got. 70.

0:36:400:36:42

70 I've got there. There was several hands I noticed go up.

0:36:430:36:46

70,000 I've got. 75 we're looking for.

0:36:460:36:49

I'll take 2 if it helps anybody. Does that help?

0:36:490:36:52

New bidder, 72, striped T-shirt.

0:36:520:36:54

72 I've got, then. 74 we're looking for.

0:36:540:36:56

74. New bidder here, 74 I've got. 76?

0:36:560:37:00

76 back on my right. 78,000.

0:37:010:37:04

78 I've got. 80 we're looking for.

0:37:040:37:06

I'll take one if it helps anybody.

0:37:060:37:08

One, it does help. That's 79. 80 then I've got, straight up.

0:37:080:37:12

New bidder there. 80 I've got. 81 we're looking for.

0:37:120:37:15

81 there on my left.

0:37:150:37:17

82 then. 83.

0:37:170:37:19

83. 84. 85.

0:37:190:37:22

85 I've got. 86.

0:37:220:37:24

86 I've got. 87, then.

0:37:240:37:27

87,000 we've got there. 88.

0:37:270:37:30

89. 89 we've got. 90.

0:37:300:37:33

91. No. Back with the gentleman right at the back in the blue T-shirt, 90,000.

0:37:330:37:38

Are we all done at 90,000, then? First time at 90,000.

0:37:380:37:42

Second time at 90,000. Third and final time.

0:37:420:37:45

-HAMMER BANGS

-Paddle number 567. It's with you, sir.

0:37:450:37:49

'The successful bidder at £90,000 was Francis.

0:37:490:37:53

'He owns a number of commercial and rental properties.

0:37:560:37:59

'Along with his eldest daughter, Alyssa,

0:37:590:38:02

'he joined me back at the Accrington house to explain the plans for this one.'

0:38:020:38:06

Francis, Alyssa, lovely to meet you both.

0:38:100:38:12

-Nice to meet you.

-Congratulations.

-Thank you.

-Tell me the story behind you buying this house.

0:38:120:38:17

Well, we've been involved in buying an odd one or two properties over a short while now that we've renovated.

0:38:170:38:23

This is a little different because Alyssa lives in Accrington

0:38:230:38:27

and her and her sister are going to move into it, so this is one to keep rather renovate and sell or let.

0:38:270:38:32

Oh, great. So were you involved in the decision process to buy this?

0:38:320:38:35

In the area, yeah. It's the better area, I think, in town. So, yeah.

0:38:350:38:41

-What was it about this house that you liked?

-Character.

0:38:410:38:44

It's oozing character. I know it's hard to see now but the features,

0:38:440:38:49

-the bathroom, things like that, brilliant.

-Is this going to be your house to live in? Do you own it?

0:38:490:38:54

How does the financial thing work out?

0:38:540:38:57

Actually... I've paid for it.

0:38:570:38:59

THEY LAUGH It's in my other daughter's name at the moment.

0:38:590:39:02

-It'll probably finish up in both of their names and then they'll live here.

-Are you going to give them it?

0:39:020:39:07

Yeah, ultimately they'll have the house. The other houses I've funded.

0:39:070:39:11

But I'm expecting a refund of the purchase when they sell or rent them.

0:39:110:39:15

'The plan for the property is that his daughters, Alyssa and Olivia, will live there with their mother.

0:39:150:39:21

'Dad Francis used to run a gas company which he sold off.

0:39:210:39:25

'He's now semi-retired and lives off the income from his investment property portfolio

0:39:250:39:30

'so he's in the fortunate position of being able to help them out.

0:39:300:39:33

'Eldest daughter Alyssa certainly has a clear vision of how she wants her new home to look.'

0:39:330:39:39

I want to keep some of the old features, definitely, but then completely modernise it, as well.

0:39:390:39:44

-I want to get a big roll-top bath in the bathroom.

-The bathroom's fantastic.

0:39:440:39:48

It's huge, yeah. Proper pamper room.

0:39:480:39:51

And then downstairs, new kitchen, but I still would like a bit of a 60s feel,

0:39:510:39:56

-so I want to go right through it.

-Right.

0:39:560:39:58

And how much involvement in the design are you going to have?

0:39:580:40:02

Hopefully all of it, really. Yeah, I want to choose pretty much everything in it.

0:40:020:40:07

'Well, it's all very well having grand plans for this former grand property

0:40:070:40:11

'but there's a fair amount of work to be done before any of Alyssa's plans come to fruition.

0:40:110:40:17

'It's also going to cost a few grand to put it right, as well, I would think.

0:40:170:40:21

-Talk me through exactly what you're going to do.

-To start with, we'll to strip the room,

0:40:210:40:26

get all the rubbish out and get all the paper off the walls.

0:40:260:40:29

In the damp area which is more towards the back,

0:40:290:40:31

we're going to knock all the plaster off back to brickwork,

0:40:310:40:35

damp-proof the back, new kitchen,

0:40:350:40:37

new bathroom, as she's described, new central heating

0:40:370:40:42

and decorations right through and keep all the original features

0:40:420:40:45

and look to source some others to put in to make it look how it would've done in years past.

0:40:450:40:50

And an idea of how much you're going to spend?

0:40:500:40:53

Erm, I think we'll be lucky to get out of this for less than £15,000 to £20,000.

0:40:530:40:57

'Francis not only bought this house but will fund the renovation.

0:40:570:41:01

'In addition, he'll project manage and will no doubt get involved in some of the finishing-off tasks.

0:41:010:41:07

'With a planned timescale of two to three months,

0:41:070:41:09

'how much practical involvement will he get from his two daughters?'

0:41:090:41:13

# Here come the girls

0:41:130:41:15

You're moving in with your sister. Are you going to split the workload?

0:41:150:41:20

-Erm, she's more into stripping walls and things like that.

-Are you sure?

0:41:200:41:25

-Yes.

-Would she say that if she was here?

-Yes.

0:41:250:41:29

Yeah, she's quite hands-on. She'll mix the plaster.

0:41:290:41:32

-Right.

-She's keen.

-And you?

-No.

0:41:320:41:34

I'll come in when it's nearly finished

0:41:340:41:37

to do the painting, boss people around.

0:41:370:41:40

-Wouldn't you get your hands dirty and do stuff?

-Yeah, eventually.

0:41:400:41:44

-It's just now that it's a bit too much for me at the moment. But I will do, definitely.

-Great.

0:41:440:41:49

-Congratulations.

-Thank you.

-Good luck with it.

0:41:490:41:52

-We look forward to seeing what you do to it.

-Thanks.

-Thank you.

0:41:520:41:55

It's great to hear that Francis and Alyssa

0:41:560:41:59

both want to keep the wonderful features that this old house has.

0:41:590:42:03

However, it hasn't really been touched for a long time,

0:42:030:42:06

so what are they going to uncover when they start the renovation process?

0:42:060:42:10

You can find out by joining us later in the show.

0:42:100:42:13

It's time to find out how those property purchases have progressed.

0:42:150:42:20

-Has it been an uphill struggle or a walk in the park?

-Let's go back and find out.

0:42:200:42:25

'Back now to Sittingbourne in North Kent where married couple Bill and Margaret

0:42:270:42:31

'bought this three-bed detached house for £220,000.

0:42:310:42:36

'It was fairly unexciting to look at

0:42:360:42:39

'and the inside didn't get the pulse racing, either. But Margaret was already getting rather attached.

0:42:390:42:46

'As their family live in the area, she could see a future here.

0:42:460:42:49

'Bill wasn't convinced, though.'

0:42:490:42:52

-Do you feel the same way about this house as Margaret?

-No, I don't.

0:42:520:42:56

It's just a house. She gets too excited about houses. It's just a house.

0:42:560:43:01

To Bill, a house is a house.

0:43:010:43:03

But I think for a woman, a house is a home and I can make this a nice home.

0:43:030:43:08

'Margaret was hoping that once the work was done, Bill would fall for the place.

0:43:080:43:12

'The plan was to build a two-storey extension at the side and fix the layout which was back to front.

0:43:120:43:19

'11 months later we're back to see not only if this house was turned round

0:43:190:43:24

'but also whether Bill had a turnaround on how he felt about it.

0:43:240:43:28

'And right away, from the outside we can see

0:43:320:43:35

'a fantastic new extension and a whole new frontage has really added some kerb appeal to this place.

0:43:350:43:42

'The extension houses a new garage.

0:43:420:43:45

'And upstairs there's a new master bedroom with an en suite.

0:43:470:43:51

'From the back garden, that makeover looks just as successful.

0:43:550:44:00

'Inside, the new kitchen really does catch the eye.

0:44:020:44:06

'Bill and Margaret have really transformed this from a rather drab, unremarkable 70s-style house

0:44:170:44:23

'into a stylish and modern home.

0:44:230:44:26

'But how did they literally turn this place around?'

0:44:260:44:29

What is now the front of the house was the back of the house. That was the back garden.

0:44:310:44:36

And now what is the back of the house was the front with the front door, so we took the front door off,

0:44:360:44:41

took the patio windows out and just moved it round.

0:44:410:44:45

So now the back of the house is the front of the house.

0:44:450:44:48

'Well, let's face it, that does make sense.

0:44:500:44:53

'Bill and Margaret were sensible about the original house,

0:44:540:44:57

'keeping the living room but giving it a makeover to make it look fresh and neutral.

0:44:570:45:02

'It looks like it's now all ready for the sales market.

0:45:020:45:05

'But it seems like Margaret may have finally got her own way.'

0:45:050:45:09

It feels like home cos it's nice and bright, which I like,

0:45:090:45:13

and I've spent a lot of time down here

0:45:130:45:16

and the more I came down, the more I thought, "No, I don't want to sell it, we're going to stay here."

0:45:160:45:21

'Well, in fact, Margaret has indeed won the argument here.

0:45:210:45:24

'Like the downstairs living room, the original upstairs bedrooms have retained their shape

0:45:240:45:29

'but they've been completely overhauled with fresh decoration and new central heating and wiring.

0:45:290:45:36

'Bill and Margaret are moving in pretty soon.

0:45:400:45:43

'Having the family nearby was always a big factor in choosing this house

0:45:430:45:48

'and granddaughter Lace is impressed by what her grandparents have achieved here.'

0:45:480:45:52

It was just awful. It was so tiny.

0:45:530:45:56

You wouldn't have thought it would look like this now compared to the start.

0:45:560:46:00

And I thought it would've taken a bit longer than it has

0:46:000:46:03

but I think they've done it quite quick, actually, considering what it was like.

0:46:030:46:07

'In fact, building that extension and renovating the old property took nine months.

0:46:080:46:14

'But I'm sure that Bill and Margaret got on like a house on fire!'

0:46:140:46:18

Most of the time, it's been fine.

0:46:180:46:21

Erm, there's been stressful moments when I'm sure he could've strangled me.

0:46:210:46:26

There's been moments when I could've strangled him. But most of the time, we work well together.

0:46:260:46:31

-I'll take the Fifth Amendment.

-HE LAUGHS

0:46:310:46:35

Excellent.

0:46:350:46:37

'Bill, being a plumber by trade, installed all the new central heating throughout

0:46:390:46:45

'while his grandson-in-law Luke did the brickwork.

0:46:450:46:48

'His contacts in the trade did most of the building work. So how did the £80,000 budget bear up?'

0:46:480:46:54

We've done about 68, I suppose.

0:46:540:46:57

So we're under-budget, really.

0:46:570:47:00

'With the house costing the couple £220,000,

0:47:000:47:03

'their total spend would now add up to 288 grand.

0:47:030:47:07

'Surely with that sort of outlay, Bill must now find something to love about his new home.'

0:47:070:47:13

It's a house. It's somewhere to come home to, somewhere to live, that's all.

0:47:140:47:19

It's a house. They're all houses. You can't love a house, can you?

0:47:190:47:24

'Well, Bill finds it difficult to love this house

0:47:270:47:31

'but let's see if two local estate agents feel any passion for it.'

0:47:310:47:35

I think the property's been extended and converted to a really high standard.

0:47:370:47:41

They've really paid attention to detail, especially with the kitchen.

0:47:410:47:45

And adding a garage is a great idea.

0:47:450:47:48

It's an amazing property. They've obviously extended it,

0:47:480:47:52

they've done a fantastic job, great position, great location,

0:47:520:47:56

a very, very desirable property.

0:47:560:47:59

Very good finish. I mean, you can see everything in it has been fitted

0:47:590:48:04

and done to a very, very high standard.

0:48:040:48:06

I mean, it's absolutely immaculate. It's absolutely beautiful.

0:48:060:48:09

'Both estate agents give the house a big thumbs up.

0:48:110:48:14

'But was it money well spent? Remember, Bill and Margaret invested £288,000 building their new home.

0:48:140:48:21

'So what could a resale fetch?'

0:48:210:48:24

I would put this property on the market for £320,000.

0:48:240:48:28

Sale price would be probably between £330,000 and £350,000.

0:48:280:48:34

-Yes, that seems pretty fair.

-We were thinking something like that.

-Yeah.

0:48:340:48:38

330, 335. But at the moment, we're not thinking of selling it.

0:48:380:48:43

-I am!

-You're not.

-THEY LAUGH

0:48:430:48:47

'That top resale value would give the couple a possible pre-tax profit of £62,000.

0:48:470:48:54

'That must be something Bill could fall in love with! But for now, this will be a home for the couple

0:48:540:49:00

'and there are many reasons why Margaret's not planning to sell it.'

0:49:000:49:05

I just like it so much. I like the south-facing garden,

0:49:060:49:10

I like what Bill's done.

0:49:100:49:12

Him and Luke have worked very, very hard on it and I just don't want to up and leave it now.

0:49:120:49:18

It's near the family, it's just everything I want.

0:49:180:49:21

So what's your excuse for not selling it?

0:49:210:49:25

I haven't got one now, have I? THEY LAUGH

0:49:250:49:28

'In the Lancashire town of Accrington,

0:49:320:49:34

'we came across what would've been a very grand house in its day.

0:49:340:49:38

'But sadly its outward appearance was not reflected on the inside.

0:49:380:49:42

'This place was in a very sorry state of repair.

0:49:420:49:45

'But despite the crumbling walls and dilapidated condition,

0:49:450:49:49

'it was bought for £90,000 by local man Francis.

0:49:490:49:53

'Along with his daughter Alyssa, they had grand plans for it.'

0:49:530:49:57

We've been involved in buying one or two properties over a short while now that we've renovated.

0:49:570:50:02

This is a little different because Alyssa lives in Accrington

0:50:020:50:05

and her and her sister are going to move into it, so this is one to keep rather than renovate and sell or let.

0:50:050:50:11

'Francis used to own a gas company that he sold on a number of years ago.

0:50:110:50:15

'He's since developed a number of properties and has also worked as a building site manager.

0:50:150:50:21

'So, armed with a £15,000 budget,

0:50:210:50:23

'he hoped he had the experience and know-how to bring the house up to scratch

0:50:230:50:27

'to make a home for his daughters, Alyssa and Olivia, and their mother to live in.

0:50:270:50:33

'Five months on, we're back. Alyssa's hair may have changed from last time we met her,

0:50:330:50:38

'but has the house undergone a transformation?

0:50:380:50:41

'Well, with new windows and doors, there's a crisp and cleaner look to the outside.

0:50:410:50:47

'But it was the inside that really needed more than a short back and sides.

0:50:470:50:51

'Well, it certainly doesn't disappoint. The house has been brought bang up to date,

0:50:580:51:04

'a sympathetic mix of old and modern, adapting the materials where necessary to fit their surroundings.

0:51:040:51:10

'So, Francis has married new materials into the old structure,

0:51:100:51:14

'with modern double-glazed windows blending in with traditional panelling and architraving.

0:51:140:51:20

'Remember that terrible kitchen?

0:51:210:51:23

'Well, that's now been consigned to the past.

0:51:250:51:28

'It's now fully-fitted and contemporary, complete with French doors to the back yard.'

0:51:280:51:34

Yeah, the French doors were quite a substantial bit of work for us.

0:51:340:51:37

Previously they were a very old bay window that was dilapidated and falling down.

0:51:370:51:41

So we took that out, supported the wall and installed the doors. It's quite good now.

0:51:410:51:47

'And the sleek refurbishment continues upstairs

0:51:510:51:54

'with a master bedroom now incorporating an en suite bathroom.

0:51:540:51:59

'The other two bedrooms are completely ready to move into.

0:52:050:52:08

'And did Alyssa get her dream bathroom?

0:52:110:52:15

'Well, what do you think?'

0:52:150:52:17

OK, a lot of the bathroom suite is mix and match.

0:52:200:52:25

It was just generally shopping around and looking at a load of different bathroom suites.

0:52:250:52:30

For instance, the taps didn't come with the bath,

0:52:300:52:33

so I ordered them separately, just to make it how exactly I wanted it.

0:52:330:52:37

'Well, Alyssa may now have got her bespoke bathroom but it was an enormous task to get to this stage.

0:52:380:52:44

'To start with, it took Francis four to five weeks and five skip-fulls just to clear the house

0:52:440:52:51

'before any of the renovation work could begin.

0:52:510:52:54

'Even though it's five months since we've been back, the bulk of the work was done in just ten weeks.'

0:52:550:53:02

Well, I made a lot of the arrangements for the hands-on physical stuff,

0:53:020:53:06

the clearing of the place and so on, and then my daughter helped with the attentive bits,

0:53:060:53:11

the colours and so on, carpet choice and a little bit of painting after we'd finished.

0:53:110:53:18

It's brilliant. Obviously, I'll be sharing it with my sister and my mum at the moment,

0:53:180:53:24

but cos I've done it to how I like, it's just...

0:53:240:53:28

I know I'm really lucky.

0:53:280:53:31

'Alyssa, her sister and mother hope to move in in around a week's time.

0:53:310:53:36

'With this house destined for his daughters, Francis acted as a project manager

0:53:360:53:41

'with Alyssa in effect being the client. So, how did that work?'

0:53:410:53:45

Yeah, it's been great. It's brought us together a little bit more. We've seen a lot more of each other.

0:53:450:53:51

But at times, we have had our arguments. But, yeah, we're closer than ever now.

0:53:510:53:56

# My girl

0:54:020:54:05

'One area there was no disagreement about was the desire to keep or reinstate

0:54:050:54:10

'as many character features as possible.

0:54:100:54:12

'Not necessarily the cheapest approach,

0:54:120:54:14

'it was always likely to stretch Francis's proposed £15,000 budget.'

0:54:140:54:20

We've gone a little over that. We're probably over £20,000, maybe even £22,000 now.

0:54:200:54:25

Predominantly, that's because some of the fixtures and fittings we put in were of a better standard

0:54:250:54:30

than the cheaper-end stuff, so that's why we've bust the budget a little, but my daughter encouraged that.

0:54:300:54:36

'A £22,000 budget on top of the £90,000 purchase price

0:54:360:54:40

'plus costs and fees will take Francis's total outlay here

0:54:400:54:44

'to around £115,000.

0:54:440:54:47

'So, has he made a wise investment choice for his daughters?

0:54:470:54:51

'What do two local estate agents think?'

0:54:510:54:53

I think it's absolutely superb and the amount of work

0:54:560:54:59

that's been put into it is absolutely excellent.

0:54:590:55:02

I like the fact that they've actually put a lot of traditional character back into the property

0:55:020:55:08

but kept it modern for today's requirements.

0:55:080:55:11

The property's done to a fantastic standard.

0:55:140:55:18

It's fantastic that they've kept original features

0:55:180:55:20

like the windows, which are in keeping with the building,

0:55:200:55:23

and the coving. It's a very good finish.

0:55:230:55:25

'Does that good finish equate to good returns?

0:55:260:55:29

'How, for instance, would the house fare on the rental market?'

0:55:290:55:33

We could rent this house out for £600 per calendar month.

0:55:340:55:38

I'd be able to rent this out for £575 per calendar month.

0:55:380:55:42

Yeah, I think that's probably a fair rental in this area.

0:55:420:55:45

But I think Alyssa would be most distressed if I rented it out now.

0:55:450:55:49

Yeah.

0:55:490:55:51

'Yes, Alyssa may not be ready to rent it out quite yet.

0:55:510:55:55

'But has dad invested around £115,000 wisely

0:55:550:55:59

'on her and her sister's behalf?'

0:55:590:56:02

In the current market, we'd be able to sell this property on at around £140,000.

0:56:020:56:06

I'd be able to market this property for £140,000.

0:56:060:56:10

Yeah, quite chuffed about that.

0:56:100:56:12

That's what we expected. But obviously we're going to keep hold of it

0:56:120:56:16

and if the time comes, it won't be for a couple of years yet, to sell.

0:56:160:56:21

'With a potential pre-tax profit of £25,000,

0:56:210:56:24

'not only has Alyssa got her first new home, but thanks to dad,

0:56:240:56:29

'she's also starting out on a firm financial footing.'

0:56:290:56:32

I'm just glad that I've been able to help them out to get their foot on the housing market ladder.

0:56:330:56:38

Yeah, I mean, I know I'm really, really lucky to get this helping hand

0:56:380:56:45

and I'd be really struggling for years to come if I didn't have my dad to help me out.

0:56:450:56:52

Well, we hope you've found our advice useful and our ideas inspiring,

0:56:540:56:58

-even in today's economic climate.

-So from Martin and I, we'll see you next time.

-Goodbye.

-Goodbye.

0:56:580:57:03

Subtitles by Red Bee Media Ltd

0:57:060:57:10

E-mail [email protected]

0:57:100:57:14

Martin Roberts and Lucy Alexander visit a three-bedroomed terraced property in Accrington, Lancashire, a property in need of full-scale renovation in Kent and a barn in Devon. All of these properties have been sold at auction. Martin and Lucy find out who bought them, and what they paid when they went under the hammer.