0:00:00 > 0:00:03Hello. Have you ever thought about buying a property at auction,
0:00:03 > 0:00:05but don't know where to start?
0:00:05 > 0:00:08Perhaps we can show you some tricks of the trade.
0:00:08 > 0:00:11Join us now as we follow three plucky buyers
0:00:11 > 0:00:13buying their homes under the hammer!
0:00:39 > 0:00:44Buying at auction is not complicated. Anybody can do it. All you need is the money!
0:00:44 > 0:00:47Today we'll talk to some intrepid buyers who took the plunge.
0:00:47 > 0:00:50Did they sink or did they swim? Let's find out.
0:00:52 > 0:00:55With five external doors, this three-bed bungalow in Wiltshire
0:00:55 > 0:00:58is far from an open-and-shut case.
0:00:58 > 0:01:00Yet another door there! How many doors do you need?
0:01:01 > 0:01:03This four-bed semi in Surrey
0:01:03 > 0:01:05could be money down the drain.
0:01:05 > 0:01:10Whoever takes on this property will need buckets of cash.
0:01:11 > 0:01:16And in Sheffield, this two-up, two-down mid-terrace is lacking...something.
0:01:16 > 0:01:21Out the back... Oh. I was kind of expecting another bit!
0:01:24 > 0:01:27All these properties were sold at auction. We find out who bought them
0:01:27 > 0:01:31and what they paid when they went under the hammer.
0:01:37 > 0:01:40Devizes is a small market town in the heart of Wiltshire.
0:01:40 > 0:01:43It's home to some beautiful Georgian architecture
0:01:43 > 0:01:46and has nearly 500 listed buildings.
0:01:46 > 0:01:51But today I'm venturing away from the town into the unknown!
0:01:51 > 0:01:55No, I'm not in the African savannah.
0:01:55 > 0:01:58I've actually come a few miles outside Devizes
0:01:58 > 0:02:01to the village of Potterne. I'm here to see this,
0:02:01 > 0:02:04a three-bed bungalow in a very pleasant cul-de-sac.
0:02:04 > 0:02:08It went to auction with a guide price of 140,000.
0:02:09 > 0:02:13So, what is in store? A fairly impressive front door,
0:02:13 > 0:02:18but possibly the narrowest entrance porch I've ever seen.
0:02:18 > 0:02:22Just about squeeze a grow-bag and some tomato plants in that!
0:02:22 > 0:02:28Right outside the front door, this oil storage tank tells me the house isn't on mains gas.
0:02:30 > 0:02:36A decent-sized central area here, off which most of the rooms go.
0:02:36 > 0:02:38Lounge, bedrooms, et cetera.
0:02:38 > 0:02:42A bathroom there, then through into the kitchen. This is a bit of a surprise.
0:02:42 > 0:02:48As you see, it's in need of tender loving care, but it's a good-sized space.
0:02:48 > 0:02:53Another door there. How many doors do you need? Through to this area.
0:02:53 > 0:02:56My thoughts are this is an extension.
0:02:56 > 0:03:00I don't know what's going on with the floor, but we're on two different levels.
0:03:00 > 0:03:04You'd want to have that checked out and maybe level the whole thing.
0:03:04 > 0:03:07But it's a big space, and, joy of joys, yet more doors
0:03:07 > 0:03:10out onto the rear garden. Lovely view.
0:03:10 > 0:03:12Pretty good.
0:03:12 > 0:03:14In contrast, the bathroom isn't huge,
0:03:14 > 0:03:18and, like the kitchen, could do with ripping out and replacing.
0:03:18 > 0:03:22So through to the lounge. Another nice surprise, it's big.
0:03:22 > 0:03:24An open fire there
0:03:24 > 0:03:29and it just goes on again into that area that was the extension.
0:03:29 > 0:03:33Again, more doors, yes, more doors, out onto the garden.
0:03:33 > 0:03:36You're getting a lot of property for your money here.
0:03:36 > 0:03:41There are three good-sized bedrooms which just need to be decorated.
0:03:41 > 0:03:45It's the perfect place if you want to confuse any door-to-door salesmen!
0:03:48 > 0:03:50You've got the double front doors.
0:03:50 > 0:03:52The original back door.
0:03:52 > 0:03:54Two double patio doors
0:03:54 > 0:03:56and a door into the conservatory.
0:03:56 > 0:03:58So options galore!
0:04:01 > 0:04:06One of the things I love about this house is it has a really nice garden.
0:04:06 > 0:04:12There is a road at the back, but it's in a cutting. You'd be forgiven for thinking you're in the woods!
0:04:16 > 0:04:20And the place doesn't end there. There's a conservatory,
0:04:20 > 0:04:23a garage and a greenhouse.
0:04:23 > 0:04:28Time for an estate agent to tell us a bit more about this sprawling bungalow.
0:04:28 > 0:04:30It needs a fair amount of money spending on it.
0:04:30 > 0:04:34Anybody who buys this is likely to put a new kitchen and bathroom in,
0:04:34 > 0:04:41redecorate it, and there's a problem in the kitchen where the floor level changes.
0:04:41 > 0:04:45Bearing in mind that guide price of 140,000,
0:04:45 > 0:04:47what could this place be worth once spruced up?
0:04:50 > 0:04:57Once this property's been renovated, it will hold a value of £215,000 to £220,000.
0:04:57 > 0:05:00If it's done very well, it may get a touch more.
0:05:00 > 0:05:04But generally, in this street, properties of this size and style
0:05:04 > 0:05:06tend to go for around the £215,000 mark.
0:05:06 > 0:05:11Is this area good for lettings? Is it worth an investor buying the place,
0:05:11 > 0:05:13doing it up then renting it out?
0:05:14 > 0:05:18Once the property's been renovated, there would be a rental market for it.
0:05:18 > 0:05:22You'd achieve something in the region of £650 per calendar month
0:05:22 > 0:05:24if you were to rent it.
0:05:24 > 0:05:28I'd imagine more likely a family would rent it than older people.
0:05:28 > 0:05:32So, nice location. Very, very big bungalow,
0:05:32 > 0:05:37and a guide price of just 140,000 quid. What is there not to like?
0:05:37 > 0:05:40Let's see who fancied it when it went under the hammer.
0:05:41 > 0:05:45Lot two. A bungalow that has been extended.
0:05:45 > 0:05:47Needs a bit doing to it. It's here to be sold.
0:05:47 > 0:05:50Who's going to start me. The guide price is 140.
0:05:50 > 0:05:54140, somebody? 130, then. Start this at £130,000. Below the guide.
0:05:54 > 0:05:56At £130,000. We'll go in twos.
0:05:56 > 0:05:59At 130. 132.
0:05:59 > 0:06:0234. At 34. And six, may I say?
0:06:02 > 0:06:04At £134,000.
0:06:04 > 0:06:06Six if you like. 36. At 136.
0:06:06 > 0:06:08138. 140 to you, sir.
0:06:08 > 0:06:10At 140 on my right-hand side.
0:06:10 > 0:06:12140. Two I'll take.
0:06:12 > 0:06:15At £140,000. Against you on the phone.
0:06:15 > 0:06:19140,000. 142 I'll take. 44.
0:06:19 > 0:06:2046.
0:06:20 > 0:06:2248. 50.
0:06:22 > 0:06:23Two?
0:06:23 > 0:06:26Four. Six. Eight.
0:06:26 > 0:06:28160. Two.
0:06:28 > 0:06:29Four.
0:06:29 > 0:06:31Six.
0:06:31 > 0:06:34At £166,000.
0:06:34 > 0:06:37On the wall. 166 it is. I'll take eight for it, anyone.
0:06:37 > 0:06:38I'll take seven, sir.
0:06:38 > 0:06:40167?
0:06:40 > 0:06:43No? At £166,000 on my left-hand side.
0:06:43 > 0:06:47For the first time. £166,000. For the second time.
0:06:47 > 0:06:50All done? 166, third and last time.
0:06:50 > 0:06:52Have you done at 166?
0:06:52 > 0:06:57The bid that sealed the deal came from farmer Frank and his wife Pauline.
0:07:03 > 0:07:06They paid 166,000 for their new bungalow.
0:07:06 > 0:07:10I met them back there to find out what they wanted to do with it.
0:07:11 > 0:07:13Pauline, Frank, lovely to meet you.
0:07:13 > 0:07:19- Thank you.- Nice to meet you. - Congratulations! Tell me why you wanted to buy the bungalow.
0:07:19 > 0:07:24Well, we want this for when we retire. We've got a small farm now,
0:07:24 > 0:07:26which we're only tenants.
0:07:26 > 0:07:33We've been looking for a bungalow to do up and retire to in a year's time.
0:07:33 > 0:07:36What was it about it that you liked?
0:07:36 > 0:07:39This bungalow is quite a sizeable bungalow.
0:07:39 > 0:07:42It's got three nice-sized bedrooms.
0:07:42 > 0:07:45And a nice size lounge and diner and kitchen.
0:07:45 > 0:07:51We thought it was ideal for us because we're used to living in a big farmhouse.
0:07:51 > 0:07:55- Right.- It's quite a downsize! - Is it?- Yes, very.
0:07:55 > 0:07:59- How will you get all your furniture in?- We won't be able to, I don't think!
0:08:01 > 0:08:05Obviously Pauline and Frank have been extremely sensible here
0:08:05 > 0:08:09and bought this bungalow well in advance of when they need to move in.
0:08:09 > 0:08:13They've got plenty of time to do the place up and get it just how they like it.
0:08:13 > 0:08:16They reckon they've got themselves a bargain.
0:08:16 > 0:08:22- My top limit was 180,000. - And you paid 166.
0:08:22 > 0:08:27- 166. I think we can do it for nearly 180,000.- Wow!
0:08:27 > 0:08:31So you're viewing you'll be able to get it fully refurbished
0:08:31 > 0:08:36- for the extra money you were willing to pay for it in the first place. - Yes.
0:08:36 > 0:08:38What are you going to do to it?
0:08:38 > 0:08:42To start with, we've got to define where the front door is!
0:08:42 > 0:08:46- Yes!- Because it looks, "Oh, where's the door?"
0:08:47 > 0:08:53I think we should put a small porch or conservatory on the front door.
0:08:53 > 0:08:56Then we'll move the oil tank
0:08:56 > 0:08:59from outside the front door
0:08:59 > 0:09:03to down behind by the garden shed.
0:09:03 > 0:09:09Then we want to pull out that fireplace
0:09:09 > 0:09:11and build a bigger one to have a small log burner.
0:09:11 > 0:09:16- We're used to a log burner. - They're great.- Yeah. - Being country people.
0:09:16 > 0:09:18Frank and Pauline aren't stopping there.
0:09:18 > 0:09:24They want to fully refurbish the house, changing everything in the kitchen and bathroom.
0:09:24 > 0:09:27It's certainly going to be quite an undertaking.
0:09:27 > 0:09:28So who's doing the work?
0:09:28 > 0:09:31- Him!- You?
0:09:32 > 0:09:34I shall get her on the sledgehammer!
0:09:34 > 0:09:36I'll do what I can to help. Do what I can.
0:09:36 > 0:09:39- Are you fairly handy?- Very.
0:09:39 > 0:09:45I can do anything. I've done virtually everything where we live now.
0:09:45 > 0:09:48I put in a new Rayburn, did all the plumbing.
0:09:48 > 0:09:50Done the electric work.
0:09:50 > 0:09:55Done everything. Put in new ceilings, windows, kitchen, bathroom.
0:09:55 > 0:09:57- Does he do a good job? - Yeah, very good.
0:09:57 > 0:10:00Frank certainly doesn't lack confidence,
0:10:00 > 0:10:05and judging by that list, it sounds like he's got the experience to back it up.
0:10:05 > 0:10:08Although it's a big job for one person to take on,
0:10:08 > 0:10:13they've given themselves nine months to get everything done on a realistic budget.
0:10:13 > 0:10:18- I reckon 20,000 will be the max. - 20, yeah.
0:10:18 > 0:10:20We may be able to do it less than that.
0:10:20 > 0:10:24But the first thing we've got to do is central heating.
0:10:24 > 0:10:29It's got to be oil because there's no gas in the village.
0:10:31 > 0:10:34So we've got to have an efficient boiler out there
0:10:34 > 0:10:38because we don't know where the price of oil is going to get to.
0:10:38 > 0:10:42What about the extension? It's great, but in the kitchen,
0:10:42 > 0:10:47- there's an undulation in the floor. - I don't know what they did when they built the house.
0:10:47 > 0:10:52They built the floor in the kitchen before they knocked the middle wall down!
0:10:52 > 0:10:56And then they saw they weren't quite the same level!
0:10:56 > 0:11:01So I shall raise the wood floor to the level of the concrete floor.
0:11:01 > 0:11:03What will you do with the garden?
0:11:03 > 0:11:05At home, we grow all our own fruit and veg.
0:11:05 > 0:11:09- Right.- So we shall grow some of it here.
0:11:09 > 0:11:13We're still eating carrots and onions from last year, from the summer.
0:11:13 > 0:11:16- Great.- They last us one year to the next.- Really?- Yeah.
0:11:16 > 0:11:22What about this area? What do you think about the area round here? Happy to move here, to retire?
0:11:22 > 0:11:26- Yes.- My mother and father used to live in the village here.
0:11:26 > 0:11:28- Did they?- Quite a while ago!
0:11:28 > 0:11:34The lady next door we met this morning, she had a hairdresser's in the village,
0:11:34 > 0:11:36and she used to do my mother's hair.
0:11:36 > 0:11:41- What a small world!- And she knew his sister as well!
0:11:41 > 0:11:44It's a small world when you get around.
0:11:44 > 0:11:49I hope you're very happy here. I look forward to seeing how it goes. A bit of work to be done!
0:11:49 > 0:11:54- Yes.- We'll get there.- You'll get there.- And get it nice.
0:11:54 > 0:11:59- Congratulations. Good luck. Lovely to meet you both.- Nice to see you.
0:12:00 > 0:12:04How lovely that Frank and Pauline have found somewhere they're happy to retire to
0:12:04 > 0:12:08and they got it for £14,000 less than they were prepared to pay.
0:12:08 > 0:12:13Big question is, will the garden and the house prove fruitful for them?
0:12:13 > 0:12:15Find out later in the show.
0:12:18 > 0:12:24If you'd visited the London borough of Sutton in the 1800s, all you'd have found were fields.
0:12:24 > 0:12:29Then in 1847, the railway arrived and boom!
0:12:29 > 0:12:34Today it's still commuter heaven, only 25 minutes by train to London Victoria.
0:12:34 > 0:12:40You ask any Londoner what's on their list of must-haves when choosing somewhere to live
0:12:40 > 0:12:46and I guarantee you that being close to transport links makes it to the top three every single time.
0:12:46 > 0:12:49Nobody wants to waste their day travelling.
0:12:49 > 0:12:54So I'm delighted the property I'm here to see is a ten-minute walk to the station.
0:12:54 > 0:12:57The house itself is perhaps slightly less than perfect.
0:12:57 > 0:13:03But it's got four bedrooms and had a guide price of £215,000.
0:13:03 > 0:13:09The outside is crying out for a lick of paint, and possibly a re-render.
0:13:09 > 0:13:11But what's it got to offer inside?
0:13:11 > 0:13:16We've got two doors to get through before we get into the hallway.
0:13:16 > 0:13:21But goodness me! Straight away I can see this hasn't been lived in for a long time.
0:13:21 > 0:13:26But the thing that hits me between the eyes is it's massive!
0:13:26 > 0:13:28It just goes on and on!
0:13:28 > 0:13:31It has a lot of character. I'm guessing it's Edwardian.
0:13:31 > 0:13:37A beautiful lounge through there, the old newel posts - shame about the spindles!
0:13:37 > 0:13:40Get rid of that ironwork and put something more original in.
0:13:40 > 0:13:45But the bones are good. This is a bit unusual. Off the corridor you've got another room.
0:13:45 > 0:13:48Lots of this wobbly glass everywhere.
0:13:48 > 0:13:51A good space here.
0:13:51 > 0:13:54Oh, dear! That's the kitchen in there!
0:13:54 > 0:13:58A bit of a '50s nightmare.
0:13:58 > 0:14:01You could think about knocking this through,
0:14:01 > 0:14:04creating one large kitchen/diner.
0:14:04 > 0:14:07But there may be a better option that that.
0:14:09 > 0:14:12I told you this house was big, didn't I? Look at this.
0:14:12 > 0:14:15You've got a third reception room here.
0:14:15 > 0:14:19It's amazing. There's so much square footage here to play with.
0:14:19 > 0:14:23So I'm thinking the kitchen is just behind this wall.
0:14:23 > 0:14:27Even if you take this wall down and just turn the kitchen around,
0:14:27 > 0:14:32you then face the garden. For me, even though it's an old period house,
0:14:32 > 0:14:35it would work so much better to have your kitchen/diner here.
0:14:35 > 0:14:39You've got lovely double doors leading out to the garden.
0:14:39 > 0:14:43OK, you've got to update everything, sort that garden out for a start,
0:14:43 > 0:14:47but I think this would be a much better way to live
0:14:47 > 0:14:50and look, it's handed to you on a plate, really.
0:14:56 > 0:14:59A structural engineer can tell you if the wall is load-bearing.
0:14:59 > 0:15:04If it is, you might need a steel beam for support, which may be costly.
0:15:04 > 0:15:08But this could be a fantastic open-plan space.
0:15:08 > 0:15:12The downside for some people would be the train line at the end of the garden.
0:15:12 > 0:15:14But once inside, it's not all that loud
0:15:14 > 0:15:17and the trains aren't that frequent.
0:15:17 > 0:15:20It had a guide price of 215,000,
0:15:20 > 0:15:24so this could be a shrewd purchase for someone who knows what they're doing.
0:15:24 > 0:15:28What I really love about this house is the sense of space.
0:15:28 > 0:15:31You've got wonderful high ceilings.
0:15:31 > 0:15:34But oh, dear! Nobody likes to look at that!
0:15:34 > 0:15:37You can tell there's obviously been some sort of leak.
0:15:37 > 0:15:42I know this part of the building has a flat roof above it - over here it's the tiled portion -
0:15:42 > 0:15:47so where they meet in the middle, I wonder if the water may be getting in underneath.
0:15:47 > 0:15:50Get an expert in to have a look at that.
0:15:50 > 0:15:53But you've got lovely wide landings.
0:15:53 > 0:15:56It needs decorating, it's old-fashioned, needs starting over.
0:15:56 > 0:15:58A good-sized double bedroom in there.
0:15:58 > 0:16:05Family bathroom, a bit small, and there's no toilet, so that needs a bit of a juggle.
0:16:05 > 0:16:09And a lovely room with a gorgeous old fireplace
0:16:09 > 0:16:10but look down here.
0:16:10 > 0:16:13One, two, three, four, five... Nine buckets.
0:16:13 > 0:16:17Now I'm thinking there is a definite problem with the roof.
0:16:17 > 0:16:22There's something going on up there. I'd love to get somebody in to have a rummage.
0:16:22 > 0:16:26But whoever takes on this property is going to need buckets of cash.
0:16:26 > 0:16:30# There's a hole in the bucket, dear Liza, dear Liza,
0:16:30 > 0:16:35# There's a hole in the bucket, dear Liza, a hole. #
0:16:35 > 0:16:41There is some serious work to do here but it's not completely beyond the "pail"!
0:16:41 > 0:16:45Once you've got the place water-tight, you need to get a toilet in the bathroom.
0:16:45 > 0:16:48And also another bathroom somewhere.
0:16:48 > 0:16:51One simply isn't enough for a four-bed house.
0:16:51 > 0:16:57It's exciting, if potentially expensive, to plan what you'd do here.
0:16:57 > 0:17:02There's space and scope aplenty and previous owners haven't stolen its charm.
0:17:02 > 0:17:04So it could be great fun.
0:17:04 > 0:17:07There's bags of potential here. I love it!
0:17:07 > 0:17:11If you're looking for a home to lovingly restore with bags of character,
0:17:11 > 0:17:14in the words of local girl Katie Melua,
0:17:14 > 0:17:17"Call off the search - I think I've found it!"
0:17:17 > 0:17:24# I'll call off the search. #
0:17:24 > 0:17:28The guide price for this house was 215,000.
0:17:28 > 0:17:33We asked a local estate agent for his take on this smashing semi.
0:17:33 > 0:17:36The property itself is fantastic. It really is.
0:17:36 > 0:17:37It's a beast of a house!
0:17:37 > 0:17:40The lay-out is pretty sound.
0:17:40 > 0:17:43It is a good family home.
0:17:43 > 0:17:44A good, honest family home.
0:17:44 > 0:17:48So once this beast of a house has been tamed,
0:17:48 > 0:17:51what could it make on the re-sale market?
0:17:51 > 0:17:53Once the property's been refurbished,
0:17:53 > 0:17:56it could achieve up to 400,000.
0:17:57 > 0:17:59400 grand?
0:17:59 > 0:18:02That's almost double the guide price.
0:18:02 > 0:18:06There's certainly money to be made here. What about renting the property out?
0:18:06 > 0:18:09The rental value per calendar month
0:18:09 > 0:18:14would be anywhere between 1,800 and £2,000, once refurbished.
0:18:15 > 0:18:20This property is clearly worth more than its guide price due to the location alone.
0:18:20 > 0:18:26It's a top spot, and personally, I would love the chance to make it work as a family home again
0:18:26 > 0:18:28and restore its character and charm.
0:18:28 > 0:18:31Let's see who else fell for it at the auction.
0:18:33 > 0:18:35Lot 19, which is in Sutton.
0:18:35 > 0:18:39A four-bedroomed house requiring modernisation.
0:18:39 > 0:18:40What shall we say for this?
0:18:42 > 0:18:45200, was that? Yes? Thank you. He was first.
0:18:45 > 0:18:46He was holding his hand up.
0:18:46 > 0:18:48I'll take 205, if you will.
0:18:48 > 0:18:50Yes? 205.
0:18:50 > 0:18:51210?
0:18:51 > 0:18:54Two, is that? 207.
0:18:54 > 0:18:56210, then. 212.
0:18:56 > 0:18:59214. 216. 218.
0:18:59 > 0:19:00220.
0:19:00 > 0:19:04222. 24. 226.
0:19:04 > 0:19:05228. 230.
0:19:05 > 0:19:09After a quick-fire start to the auction,
0:19:09 > 0:19:11three bidders begin to battle it out.
0:19:12 > 0:19:17We pick things up as the auction hits 250,000.
0:19:17 > 0:19:19250. 251.
0:19:19 > 0:19:21252.
0:19:21 > 0:19:24252. Lady's back in. 253 anywhere else?
0:19:24 > 0:19:28Otherwise at 252, then. 253.
0:19:28 > 0:19:29254.
0:19:29 > 0:19:32254. 255?
0:19:32 > 0:19:35No? £254,000
0:19:35 > 0:19:38straight ahead for the first.
0:19:38 > 0:19:43255,000 is bid. 256?
0:19:44 > 0:19:47256,000 back in.
0:19:47 > 0:19:49257? No?
0:19:49 > 0:19:55Sure? £256,000, gentleman on my left seated for the first.
0:19:55 > 0:19:56257. Back in.
0:19:56 > 0:19:58258?
0:19:58 > 0:19:59Sure?
0:19:59 > 0:20:03257,000, then, with the lady for the first.
0:20:03 > 0:20:06257 for the second.
0:20:06 > 0:20:07Third.
0:20:07 > 0:20:09258. 259?
0:20:10 > 0:20:14258. Gentleman at the front for the first.
0:20:14 > 0:20:17258. 259. 260?
0:20:17 > 0:20:21She's on her own! There's four of you. You should be able to do that!
0:20:21 > 0:20:25£259,000. Lady's bid for the first.
0:20:25 > 0:20:27259 for the second.
0:20:27 > 0:20:31Third and final time.
0:20:31 > 0:20:34Lady buys it at £259,000.
0:20:34 > 0:20:40That successful bid of 259,000 was made by Gladys,
0:20:40 > 0:20:42hidden behind the man in the grey jumper.
0:20:42 > 0:20:45Gladys is a support worker
0:20:45 > 0:20:49and husband Stefan a staff training consultant for companies overseas.
0:20:49 > 0:20:52This is their second auction purchase.
0:20:52 > 0:20:55I caught up with them to find out more.
0:20:56 > 0:20:59Stefan and Gladys, it's lovely to meet both of you.
0:20:59 > 0:21:01- Thank you.- Lovely to meet you.
0:21:01 > 0:21:05- Did you think you would win this on auction day, Gladys? - No, I didn't.
0:21:05 > 0:21:10When I first came here, there were about 20 or more people
0:21:10 > 0:21:12and I didn't think I would.
0:21:12 > 0:21:15So I came back again. I liked it so much.
0:21:15 > 0:21:18So I brought my builder to come and have a look.
0:21:18 > 0:21:22I saw the ceiling, the state of the ceiling. He said, "It's superficial. Go for it.
0:21:22 > 0:21:26"It's nothing structural. It looks fine. Just go for it."
0:21:26 > 0:21:30So what is your plan for this place? Will you keep it as a family house?
0:21:30 > 0:21:33Yes. We get pleasure out of renovating
0:21:33 > 0:21:37so to turn this back into a nice family home
0:21:37 > 0:21:41which has all the advantages - location, the station.
0:21:41 > 0:21:46And we, in fact, when we first got married 20 years ago,
0:21:46 > 0:21:49- is it only 20 years? - It feels like 50!
0:21:49 > 0:21:53We used to live just round the corner on the Brighton Road.
0:21:53 > 0:21:56So we know the area.
0:21:57 > 0:22:02Local knowledge is key, as is experience. Stefan's a semi-retired engineer
0:22:02 > 0:22:04with a passion for DIY.
0:22:04 > 0:22:07Gladys's role is more organisational.
0:22:07 > 0:22:13Those 50 - sorry, 20 - years together means they have a great working dynamic.
0:22:13 > 0:22:16They certainly have their work cut out for them here.
0:22:16 > 0:22:20- We...- We'll make the roof secure, first thing.- Yes, secure the roof.
0:22:20 > 0:22:25The builder is coming at the end of the month and he'll sort that out.
0:22:25 > 0:22:32- Electrician.- Electrician. - Rewire.- A plumber's coming in, also end of the month.
0:22:32 > 0:22:37And really it's also to design. We're not sure where to put the kitchen.
0:22:37 > 0:22:41We have a nice back reception.
0:22:41 > 0:22:43Then there's a middle reception.
0:22:43 > 0:22:45We're not sure which one will be the kitchen.
0:22:45 > 0:22:51I would definitely think about creating a kitchen within that big space at the end.
0:22:51 > 0:22:55That'll be the best part of the house as far as families are concerned.
0:22:55 > 0:22:59Mum cooking with the kids there. Maybe they're playing in the garden.
0:22:59 > 0:23:03- I just think that is what that space should be. - You've reassured us!
0:23:05 > 0:23:07Stefan and Gladys won't be short of options.
0:23:07 > 0:23:10I'm certain they'll do a great job here,
0:23:10 > 0:23:15especially if they give the property that family-friendly kitchen it desperately needs.
0:23:15 > 0:23:16But all this comes at a cost.
0:23:16 > 0:23:21They have a budget of 40,000, which may sound like a good wad of cash,
0:23:21 > 0:23:23but could disappear in a flash.
0:23:25 > 0:23:29We think that 40 is a reasonable 40
0:23:29 > 0:23:33and we think we've covered everything.
0:23:33 > 0:23:38But there's something that we call the "huth factor", the "homes under the hammer" factor,
0:23:38 > 0:23:45and that is whatever you do, there's something called luck involved.
0:23:45 > 0:23:47So you can be very lucky or very unlucky.
0:23:47 > 0:23:52So far, we're hoping we're lucky.
0:23:52 > 0:23:56The "huth" factor. Never heard of that. The "homes under the hammer" factor.
0:23:56 > 0:24:01- Ah, yes, well.- Guys, good luck with this. I see how passionate you are about this house.
0:24:01 > 0:24:05It'll be great finding out what you do to it. Lovely to meet you.
0:24:05 > 0:24:09- Nice to meet you.- Nice to meet you, Lucy.- Thank you very much.
0:24:10 > 0:24:14So Gladys and Stefan have a wonderful project here.
0:24:14 > 0:24:16And some serious profit to make.
0:24:16 > 0:24:20But £40,000 for all this work?
0:24:20 > 0:24:25They're going to need a lot of luck and some "huth factor" to see them through.
0:24:25 > 0:24:29Join me later in the programme to find out how they get on.
0:24:30 > 0:24:35Coming up. The roof of this two-bed terrace in Sheffield needs some serious attention.
0:24:35 > 0:24:39Just added quite a few thousand onto the renovation costs there.
0:24:40 > 0:24:44In Surrey, Gladys and Stefan have been using the "huth factor"
0:24:44 > 0:24:46on their four-bed semi.
0:24:46 > 0:24:50The "homes under the hammer factor" has been positive in this house.
0:24:51 > 0:24:55But first, in Wiltshire, farmer Frank has the key to success.
0:24:55 > 0:25:00You've got to buy the right place in the right place at the right price.
0:25:07 > 0:25:11Back to Wiltshire where farmer Frank and his wife Pauline
0:25:11 > 0:25:16bought this three-bed bungalow in the village of Potterne, Devizes.
0:25:16 > 0:25:20They snapped it up at auction for 166,000
0:25:20 > 0:25:23and the plan was to renovate it, then retire and move in.
0:25:23 > 0:25:26But Frank didn't seem like the retiring type.
0:25:27 > 0:25:30- Who's doing the work?- Him!
0:25:30 > 0:25:31You are?!
0:25:31 > 0:25:34- Are you fairly handy?- Very.
0:25:34 > 0:25:39I can do anything. I've done virtually everything where we live now.
0:25:39 > 0:25:43I've done the plumbing, the electric work,
0:25:43 > 0:25:48done everything. Put in new ceilings, windows, kitchen, bathroom.
0:25:48 > 0:25:51With a healthy £20,000 budget
0:25:51 > 0:25:55and a year to do the work before the tenancy expired on their farm,
0:25:55 > 0:25:57it was all systems go for Pauline and Frank.
0:25:57 > 0:26:00- Does he do a good job? - Yeah. Very good.
0:26:00 > 0:26:03Well, 12 months after our first visit, we're back
0:26:03 > 0:26:07to see just how good a job Frank and Pauline have done.
0:26:21 > 0:26:25Well, you have to hand it to Frank. With a bit of help from family,
0:26:25 > 0:26:28he's been down here twice a week for the last year
0:26:28 > 0:26:30and done most of the work himself.
0:26:30 > 0:26:32And it was more than you might think.
0:26:32 > 0:26:36We completely gutted the place,
0:26:36 > 0:26:39doors, skirting, everything.
0:26:39 > 0:26:41Then we had it replastered.
0:26:41 > 0:26:44We put all new skirting boards round
0:26:44 > 0:26:48and brought the bathroom out.
0:26:48 > 0:26:53And made the kitchen different to what it is.
0:26:53 > 0:26:56And that's about it, really.
0:26:56 > 0:27:00The bathroom was enlarged so it now incorporates a separate shower.
0:27:00 > 0:27:04But rearranging the bathroom was no mean feat.
0:27:06 > 0:27:10Because it's concrete floors, we had to dig the floor up
0:27:10 > 0:27:16to get the pipes in for the shower and bath and basin
0:27:16 > 0:27:18all a different way.
0:27:18 > 0:27:21So it was quite a bit of work.
0:27:22 > 0:27:24And it doesn't stop there.
0:27:24 > 0:27:27Frank's been busy knocking the kitchen about, too.
0:27:27 > 0:27:31In the process, he managed to sort out the strange changes of level
0:27:31 > 0:27:33in the kitchen floor.
0:27:33 > 0:27:36But it wasn't all about Frank wielding a sledgehammer.
0:27:36 > 0:27:39Pauline's made her mark on the property too.
0:27:40 > 0:27:45I chose all the lights. I wanted all the same through.
0:27:45 > 0:27:49The wallpaper, I wanted something nice and bright
0:27:49 > 0:27:52with a bit of colour to set it off quite nicely.
0:27:53 > 0:27:57It's taken just over a year to get to this stage
0:27:57 > 0:28:00and there's still some plumbing to do, carpets to go in
0:28:00 > 0:28:02and some landscaping.
0:28:02 > 0:28:06But Pauline and Frank are relaxed about the schedule because their plans have changed.
0:28:06 > 0:28:09Their tenancy on the farm has been extended
0:28:09 > 0:28:14so they've decided to delay retirement and stay on there.
0:28:14 > 0:28:17I wanted to move from the farm and come here.
0:28:17 > 0:28:19But Frank wasn't too keen.
0:28:19 > 0:28:22He likes his farming too much.
0:28:22 > 0:28:26As long as you're fit, you want to keep fit, don't you?
0:28:26 > 0:28:30If you sit down all day, you're soon in a long box!
0:28:33 > 0:28:37Well, Frank's certainly been keeping himself busy here. Outside,
0:28:37 > 0:28:41he's moved the oil tank, extended the off-street parking,
0:28:41 > 0:28:46built an area of decking, and when the lawn goes down, there'll be a lovely garden here.
0:28:46 > 0:28:50Budget-wise, Pauline and Frank gave themselves 20,000.
0:28:50 > 0:28:52How well has that held out?
0:28:52 > 0:28:56We've only spent 14,700
0:28:56 > 0:28:59and it's in the book out there if you want to check it!
0:28:59 > 0:29:05But we've got to have the radiators and a bit done yet,
0:29:05 > 0:29:09- so I think it'll be about 16 or 17,000.- Yeah.
0:29:09 > 0:29:13Which is pretty well within budget.
0:29:14 > 0:29:18If they do end up spending £17,000,
0:29:18 > 0:29:20their total outlay on the project
0:29:20 > 0:29:23will come in at about 183,000.
0:29:23 > 0:29:27We asked two local property experts to look around and give us their thoughts.
0:29:27 > 0:29:31My first impressions are the property's changed an awful lot
0:29:31 > 0:29:34from what was here before.
0:29:34 > 0:29:37It's a lot brighter, it's been modernised throughout
0:29:37 > 0:29:40which makes a massive difference to the overall feel of it.
0:29:40 > 0:29:44- A very different property. - It's very spacious for a bungalow.
0:29:44 > 0:29:49They've done a super job. It's quality. You see that straightaway.
0:29:49 > 0:29:53The kitchen fixtures and the bathroom.
0:29:53 > 0:29:58So they've done a great job in the length of time they've had the property.
0:29:58 > 0:30:03Frank and Pauline's plan is to stay on at their rented farm.
0:30:03 > 0:30:07So what might they earn from renting out the bungalow?
0:30:07 > 0:30:10The demand for rental for bungalows is very good.
0:30:10 > 0:30:14I'd estimate you'd achieve £695 per calendar month.
0:30:14 > 0:30:18The rental value will be £650 per calendar month.
0:30:18 > 0:30:21And if they decided to sell it on?
0:30:21 > 0:30:23The resale value of this property
0:30:23 > 0:30:26will be £220,000.
0:30:26 > 0:30:31The resale value of the property at the moment would be 220 to £225,000.
0:30:31 > 0:30:35What do Pauline and Frank make of that?
0:30:35 > 0:30:38Not too bad.
0:30:38 > 0:30:41We'll make a few quid profit!
0:30:42 > 0:30:44A few quid?!
0:30:44 > 0:30:48By my calculations, the couple could be looking at a pre-tax profit
0:30:48 > 0:30:53of between 37 and £42,000, minus fees and expenses.
0:30:53 > 0:30:55That's a fair few quid in my book!
0:30:55 > 0:30:58There's no sign of Frank slowing down just yet.
0:30:58 > 0:31:02So what's their plan when they've finished here?
0:31:02 > 0:31:04Well, if we sell this,
0:31:04 > 0:31:09we'd probably buy another to do up next winter.
0:31:09 > 0:31:13Yeah, we're in no hurry at the moment to go and buy one.
0:31:13 > 0:31:16- It depends...- Keep a lookout. Keep a lookout.
0:31:16 > 0:31:18It depends what comes up.
0:31:18 > 0:31:24- You've got to buy the right place in the right place at the right price. - See what comes up.
0:31:24 > 0:31:26That's the spirit, Frank.
0:31:26 > 0:31:30Something tells me it may not be too long before we see you again on the show!
0:31:35 > 0:31:39This is Sheffield, a city currently going through a resurgence.
0:31:39 > 0:31:43Its streets are filled with students, over 50,000 of them,
0:31:43 > 0:31:48and brand new businesses to bring in the bright young things.
0:31:48 > 0:31:52It's working and the city of steel is now being transformed.
0:31:52 > 0:31:55This is Darnall, a suburb to the east of Sheffield.
0:31:55 > 0:31:58Full of these terraced houses
0:31:58 > 0:32:02built for the steelworkers who worked in the town.
0:32:02 > 0:32:06It's a good place to live. Good transport links into the city centre,
0:32:06 > 0:32:08especially with the new tram.
0:32:08 > 0:32:12This is the property I'm here to see. A two-bed terrace, guide price of 35 to 40,000 quid.
0:32:12 > 0:32:14Let's take a look.
0:32:16 > 0:32:18So, not a lot of money. What do you get for it?
0:32:18 > 0:32:24Oh, dear! What you get, to start with, is a fairly bad damp problem.
0:32:24 > 0:32:25Hmm.
0:32:25 > 0:32:30Need to investigate that a bit more. It's on that wall, also that wall.
0:32:30 > 0:32:32Not a bad size front living room.
0:32:32 > 0:32:35I notice one thing, that is obviously the chimney breast
0:32:35 > 0:32:39and I'd like to see an air brick in that. If it's been blocked up,
0:32:39 > 0:32:45without proper ventilation, then you could get damp through that chimney breast.
0:32:45 > 0:32:50Stairs up to the bedrooms. The rear of the property where the kitchen is.
0:32:50 > 0:32:52You've got a kitchen sink.
0:32:52 > 0:32:54A boiler, which looks terribly old.
0:32:54 > 0:32:56Not a bad-sized space, though.
0:32:56 > 0:32:59And then out the back...
0:32:59 > 0:33:06Oh. I was kind of expecting another bit. Maybe an extension like the other houses in the street.
0:33:06 > 0:33:10Or some of them. That's where you might expect a bathroom to be.
0:33:10 > 0:33:12Nothing there. OK.
0:33:12 > 0:33:16Not to worry. Let's take a look upstairs.
0:33:16 > 0:33:19Most houses end with a utility area or a bathroom.
0:33:19 > 0:33:24But this is abrupt, straight out into a decent-sized garden.
0:33:24 > 0:33:26Maybe there's space to extend out the back.
0:33:26 > 0:33:30It looks like the neighbours have done it, so it may be worth a go.
0:33:31 > 0:33:34Upstairs, pretty much what you'd expect.
0:33:34 > 0:33:38A pretty good-sized double bedroom. But then it gets a bit unusual.
0:33:38 > 0:33:41There's this little landing area here
0:33:41 > 0:33:44and instead of having one bedroom on this side as well
0:33:44 > 0:33:50as you'd expect in this kind of house, you've got a bathroom and loo there.
0:33:50 > 0:33:53Fantastic. Obviously there's been a compromise.
0:33:53 > 0:33:57And that's that the second bedroom is a bit small. Good storage, though.
0:33:57 > 0:34:02But thinking about the kind of people that would use this property. It'll either be a couple
0:34:02 > 0:34:04or maybe somebody with a young family.
0:34:04 > 0:34:08So one bedroom and a smaller bedroom here will work well.
0:34:08 > 0:34:10So I think that is good news.
0:34:10 > 0:34:15It's always a positive to have a bathroom near the bedrooms in a small house like this.
0:34:15 > 0:34:20That would appeal to families, along with the little bedroom for a child.
0:34:20 > 0:34:24Not so appealing to the eye or the wallet is the amount of damp.
0:34:24 > 0:34:26I've spotted it all around the house.
0:34:26 > 0:34:30It's in virtually every room and in sizeable patches
0:34:30 > 0:34:32which peel away to the touch.
0:34:32 > 0:34:35This needs to be solved, and pronto.
0:34:37 > 0:34:39So, wherein lies the problem?
0:34:39 > 0:34:41I reckon it could be something out here.
0:34:41 > 0:34:48Look at the brickwork. The pointing isn't in that good a condition so that's the first port of call.
0:34:48 > 0:34:52You can see down the front of the building lots of watermarks.
0:34:52 > 0:34:57That looks like it's coming from the guttering, so we're replacing the pointing and the guttering.
0:34:57 > 0:35:00And come back a bit further from the property,
0:35:00 > 0:35:03so you can see the roof, and oh, dear!
0:35:03 > 0:35:06Looks like it needs a new roof as well.
0:35:06 > 0:35:11So you're starting to add quite a few thousand pounds onto the renovation costs.
0:35:11 > 0:35:14This terraced house really is piling the pounds
0:35:14 > 0:35:16onto its currently skinny frame.
0:35:16 > 0:35:21I'm worried it'll take more cash than it's worth to fatten it up to a decent standard.
0:35:21 > 0:35:23Let's add it all up.
0:35:23 > 0:35:28Maybe there's still a chance to make your wallet bulge here and not have you running for cover.
0:35:31 > 0:35:35Well, these still are fairly sticky times in the property sales market.
0:35:35 > 0:35:38Maybe the best option for this place
0:35:38 > 0:35:40is to rent it out.
0:35:40 > 0:35:43With that, it could generate quite a good yield.
0:35:43 > 0:35:48Get the property for say, 40,000 quid. Spend about £10,000 on the renovation.
0:35:48 > 0:35:51That's £50,000 you're in it for.
0:35:51 > 0:35:55These properties would rent out at £400 a month or so.
0:35:55 > 0:35:57So that is about a ten per cent yield.
0:35:57 > 0:35:59Not at all bad.
0:35:59 > 0:36:01Obviously,
0:36:01 > 0:36:05there are auction and potential rental management fees to add on.
0:36:05 > 0:36:07They would eat into your profit.
0:36:07 > 0:36:10But just from that simple sum, it's worth considering.
0:36:10 > 0:36:14The interior could be pretty cheap to do if you kept it simple.
0:36:14 > 0:36:19Just some paint, carpets and a basic kitchen and bathroom suite is all it would take.
0:36:19 > 0:36:23It's really just on the outside that costs start to add up.
0:36:23 > 0:36:26But with that guide price of 35 to 40 grand,
0:36:26 > 0:36:30this place offered a good start for an investor.
0:36:30 > 0:36:34We asked a local estate agent what he thought of this two-bed terrace.
0:36:35 > 0:36:37First impressions,
0:36:37 > 0:36:41there's got to be quite a bit of money to be spent
0:36:41 > 0:36:43before it's marketable.
0:36:43 > 0:36:47In our opinion, we're looking at about £15,000.
0:36:47 > 0:36:49It needs a new roof,
0:36:49 > 0:36:52a new kitchen
0:36:52 > 0:36:54and double-glazed windows.
0:36:57 > 0:37:00No surprises there about the level of work needed.
0:37:00 > 0:37:03But the estate agent reckons the area is popular
0:37:03 > 0:37:09and the house would appeal to families or young professionals. What might it fetch in rental value?
0:37:09 > 0:37:16Once it's all renovated, we'd be looking to achieve in the region of 400 to £425 per calendar month.
0:37:16 > 0:37:19What could a resale achieve?
0:37:19 > 0:37:22Once all the work is done,
0:37:22 > 0:37:26we'd be looking at marketing it for around 65,000.
0:37:27 > 0:37:33Not a bad little property, but it needs more rehabilitation than at first glance.
0:37:33 > 0:37:38That roof could be a problem. It'll add thousands onto the renovation costs.
0:37:38 > 0:37:41Let's see who fancied it when it went under the hammer.
0:37:44 > 0:37:47Lot 36. The guide price 35 to 40,000.
0:37:47 > 0:37:52Let's start at 35. Do we have an opening bid of 35,000 on this?
0:37:52 > 0:37:5435?
0:37:54 > 0:37:5725, then. 25,000 down here. 26 anywhere?
0:37:57 > 0:37:59£25,000.
0:37:59 > 0:38:0126, thank you, sir. 27?
0:38:01 > 0:38:0428. 29.
0:38:04 > 0:38:0530.
0:38:05 > 0:38:0731. 32?
0:38:07 > 0:38:0933.
0:38:09 > 0:38:1134.
0:38:12 > 0:38:1335?
0:38:13 > 0:38:1534,500.
0:38:15 > 0:38:1834,500 anywhere?
0:38:18 > 0:38:2134,500. 35.
0:38:21 > 0:38:2335,000, sir? Stood up.
0:38:23 > 0:38:2435,000?
0:38:24 > 0:38:29Bid's at 34,500. I'm looking for 35.
0:38:29 > 0:38:3135,000. Thank you.
0:38:31 > 0:38:3435,500? At £35,000.
0:38:34 > 0:38:39Stood up. The first time at £35,000. You're out down here.
0:38:39 > 0:38:41Any other bids?
0:38:41 > 0:38:4435,000. The second time at 35,000.
0:38:44 > 0:38:46Third and last time at £35,000.
0:38:46 > 0:38:48Yours, sir. Thank you.
0:38:51 > 0:38:55That successful bid of 35,000
0:38:55 > 0:38:58was made by Babul, seen here on the right.
0:38:58 > 0:39:02He came to meet me at the property with his younger brother, Shibul.
0:39:02 > 0:39:05Babul's been a practising lawyer for ten years
0:39:05 > 0:39:08while Shibul is a legal assistant.
0:39:08 > 0:39:12I chatted to them to find out why they'd bought this house.
0:39:12 > 0:39:14Babul, Shibul, good to meet you.
0:39:14 > 0:39:17- Good to meet you.- Congratulations. - Thank you.
0:39:17 > 0:39:18Tell me why you wanted to buy this.
0:39:18 > 0:39:22It's located in an area which is desirable.
0:39:22 > 0:39:27And also the price. I thought this would be an ideal first house for my brother.
0:39:27 > 0:39:31So you've assisted him getting onto the property ladder.
0:39:31 > 0:39:34In the past my parents have helped when I was younger,
0:39:34 > 0:39:39- so I thought I'd do something for my brother.- Great. How do you feel about it?
0:39:39 > 0:39:41Over-excited!
0:39:41 > 0:39:44I don't know how to explain it, to be honest.
0:39:44 > 0:39:48I'm just looking forward to the future in some ways.
0:39:48 > 0:39:52- Are you going to be living here? - Yeah.- So this is your starter home.
0:39:52 > 0:39:55- Yes.- What did you think about the house when you saw it?
0:39:55 > 0:39:58This is the first time I've seen inside!
0:39:58 > 0:40:00Really?! Today?
0:40:00 > 0:40:01- Today.- What do you think?
0:40:01 > 0:40:06I like it. I honestly like it. As soon as I walked in,
0:40:06 > 0:40:12when I looked at the rooms, I've got plans in my head already.
0:40:12 > 0:40:16I'm going to have this there, what colour, how I'll set it out.
0:40:16 > 0:40:19I've already got ideas so I'm looking forward to it.
0:40:19 > 0:40:23Sounds like Shibul is already making himself at home.
0:40:23 > 0:40:26He has lots of friends living on this street
0:40:26 > 0:40:29and is clearly grateful for his brother's help.
0:40:37 > 0:40:39Shibul is currently living at his brother's house.
0:40:39 > 0:40:44Babul, who already has three other properties, knew a good deal when he saw this.
0:40:44 > 0:40:48What do they plan to do to the place to get it ship-shape for Shibul?
0:40:49 > 0:40:53Talk me through what you're going to do to sort it out.
0:40:53 > 0:40:58Initially, the damp-proof and the roof. I'll get some experts' quotes for that.
0:41:00 > 0:41:05Certainly new carpeting throughout. A new kitchen in here. New bathroom.
0:41:05 > 0:41:10In terms of the garden, as you've seen, it needs a bit of work.
0:41:10 > 0:41:12But we'll see what can be done.
0:41:12 > 0:41:15Who's going to be involved in sorting it out?
0:41:15 > 0:41:18- Will you get involved?- Uh... - Yes, you most certainly are!
0:41:18 > 0:41:22- You're doing a lot of the work! - I'll be doing the majority of it.
0:41:22 > 0:41:26It gives me experience on how to deal with it in the future.
0:41:26 > 0:41:30So it's got to start from somewhere. So here we are.
0:41:30 > 0:41:33Right. What are you going to do to sort it out?
0:41:33 > 0:41:36Well, I'm planning on getting it revamped.
0:41:36 > 0:41:42- Obviously the house does need a bit of work doing.- I'll be handling the project management!
0:41:42 > 0:41:46- Will you?- Yes. I'll get him to do some painting and decorating.
0:41:46 > 0:41:50Some of the more significant jobs, I've got contacts from previous properties.
0:41:50 > 0:41:54So they'll be doing things like guttering and damp-proof course.
0:41:54 > 0:41:59But you're more than capable of doing the painting and things like that.
0:41:59 > 0:42:01I can reach the high points!
0:42:01 > 0:42:02You're taller, of course.
0:42:03 > 0:42:07So with Shibul's height and Babul's cash and know-how,
0:42:07 > 0:42:10these two should get this place sorted.
0:42:10 > 0:42:13They have a £10,000 budget which will be tight,
0:42:13 > 0:42:18considering the problems with the damp, the roof and their two to three month timescale.
0:42:18 > 0:42:24But when it comes to deadlines, there's a good reason why Shibul needs to be in here soon.
0:42:25 > 0:42:29- My wife and I are expecting our first child in March. - Congratulations.
0:42:29 > 0:42:31So that's going to be interesting.
0:42:31 > 0:42:36So you might be getting out of the house just in time before the screaming and the noise!
0:42:36 > 0:42:42- And pooey nappies!- That's it, yeah. - What do you think about what your brother's done for you?
0:42:42 > 0:42:46I'm overjoyed. I can't express the feelings of what he's done for me.
0:42:46 > 0:42:50Congratulations to both of you. Well done for helping your brother
0:42:50 > 0:42:54- and good luck in your new home. We look forward to seeing how you do. - Thanks.
0:42:54 > 0:42:58Well, that's brotherly love for you.
0:42:58 > 0:43:02Babul really helping Shibul get on the housing ladder.
0:43:02 > 0:43:06Shibul rightly delighted with his first home.
0:43:06 > 0:43:10I'm a bit concerned though that they've underestimated the budget.
0:43:10 > 0:43:13Roofs tend to swallow up funds like you wouldn't believe.
0:43:13 > 0:43:16How will they get on? Find out later in the show.
0:43:19 > 0:43:22It's been a while since we last saw those properties.
0:43:22 > 0:43:25Have the renovations been plain-sailing
0:43:25 > 0:43:27or has it all gone horribly wrong?
0:43:27 > 0:43:29Let's go back and find out.
0:43:30 > 0:43:32Back to Sutton in Surrey now.
0:43:32 > 0:43:35Husband and wife, Stefan and Gladys,
0:43:35 > 0:43:39bought this semi-detached house for 259,000.
0:43:39 > 0:43:42This is the second property they've bought at auction.
0:43:42 > 0:43:44The plan was to renovate and sell it on.
0:43:44 > 0:43:49But that was all going to rely on one very special ingredient.
0:43:49 > 0:43:52There's something that we call the "huth factor".
0:43:52 > 0:43:54The "under the hammer" factor!
0:43:54 > 0:44:01That is that whatever you do, there's something called luck involved.
0:44:01 > 0:44:04So you can be very lucky or very unlucky.
0:44:04 > 0:44:08So far, we're hoping we're lucky.
0:44:08 > 0:44:13So did that all important "homes under the hammer" factor
0:44:13 > 0:44:16stay on their side? Five months later,
0:44:16 > 0:44:21we're back to see if leaky roofs are a thing of the past for this fabulous family pad.
0:44:40 > 0:44:44As you can see, this is the new kitchen.
0:44:44 > 0:44:47This used to be the back reception room.
0:44:47 > 0:44:50The old kitchen was behind this wall
0:44:50 > 0:44:52and it was very small.
0:44:52 > 0:44:57We were going to knock this wall through so it's a bigger kitchen/diner.
0:44:57 > 0:45:00But we found out this was a supporting wall
0:45:00 > 0:45:04so we had to leave it. What we've done is kept the kitchen in the back reception.
0:45:06 > 0:45:10The new kitchen/diner is a fantastic family space.
0:45:10 > 0:45:12The old kitchen has been cleverly re-jigged
0:45:12 > 0:45:15to make a utility room and downstairs loo.
0:45:15 > 0:45:18Win, win, win!
0:45:19 > 0:45:22Upstairs, the winning formula continues.
0:45:22 > 0:45:24The buckets and damp are no longer.
0:45:24 > 0:45:27The four bedrooms have been given a new lease of life.
0:45:32 > 0:45:35The bathroom has also benefitted from a rethink.
0:45:37 > 0:45:40When we purchased the property, it was very small.
0:45:40 > 0:45:47So we took about a foot to 18 inches off that bedroom
0:45:47 > 0:45:50and put in a completely new white suite.
0:45:50 > 0:45:57We couldn't put the toilet in there because there was no stack point at the front of the house.
0:45:57 > 0:46:03So we kept a separate toilet and used this as the main family bathroom.
0:46:05 > 0:46:10The revamped upstairs loo now has a hand basin and works pretty well.
0:46:10 > 0:46:13With the roof fixed and new windows throughout,
0:46:13 > 0:46:16the property looks the part as a lovely family home.
0:46:17 > 0:46:23How has all this work impacted on Gladys and Stefan's £40,000 budget?
0:46:23 > 0:46:27- We were very close. Very close. - Very, very close.
0:46:27 > 0:46:33Just over. We've actually come in at about 42
0:46:33 > 0:46:37and there's probably another few hundred to spend.
0:46:37 > 0:46:40Including their purchase price of 259,000,
0:46:40 > 0:46:45Gladys and Stefan's total spend is around £301,500.
0:46:45 > 0:46:49And the good news is, they're a whole month ahead of schedule.
0:46:49 > 0:46:53We asked along two local estate agents
0:46:53 > 0:46:56to give us their opinion on the result of their efforts.
0:46:56 > 0:46:59I love the way that the property's been presented.
0:46:59 > 0:47:02They've kept some of the original features as well.
0:47:02 > 0:47:04Obviously everything is spick and span.
0:47:04 > 0:47:07It's just a nice, honest, good home.
0:47:07 > 0:47:09The standard of finish is good.
0:47:09 > 0:47:12As with refurbishing, you can spend as much as you want
0:47:12 > 0:47:16or as little as you want, to maximise on profit.
0:47:16 > 0:47:21However, they've done enough to ensure that people will be interested in this property.
0:47:21 > 0:47:24Moving the kitchen to the back is definitely a good idea.
0:47:24 > 0:47:29It bring in the outside space inside, which is fantastic for a family.
0:47:29 > 0:47:34What do the experts think the property could fetch as a rental?
0:47:35 > 0:47:37If I was to rent this property out,
0:47:37 > 0:47:43I would expect it to achieve between 1,400 to £1,650 per calendar month.
0:47:43 > 0:47:48The property would achieve anywhere between 2,000 and 2,500 per calendar month.
0:47:48 > 0:47:51- Ooh, that's very high, isn't it? - Very high and very low.
0:47:51 > 0:47:55We think - we've done our research -
0:47:55 > 0:47:58we think around 1,800 to 2,000.
0:47:58 > 0:48:02That's probably a realistic value for this area.
0:48:03 > 0:48:07The estate agents' valuations would give the couple a healthy yield
0:48:07 > 0:48:10of between 5.5 and ten per cent.
0:48:10 > 0:48:15But Gladys and Stefan would like to sell. What might they make if they did that?
0:48:15 > 0:48:21Given the fact that there is a shortage of this style of property in the locality currently,
0:48:21 > 0:48:25I think it could be tested, you could put it on at around 400,000
0:48:25 > 0:48:28and maybe even test it slightly higher.
0:48:28 > 0:48:29Maybe up to 420.
0:48:29 > 0:48:36In the current climate, the property would be valued between 400 and £425,000.
0:48:36 > 0:48:39- Yeah, that would do us very nicely! - Yeah.- Thank you!
0:48:39 > 0:48:41Now I can have my holiday!
0:48:43 > 0:48:45Yes, a holiday and a half, I reckon!
0:48:45 > 0:48:48Gladys and Stefan could be looking at a pre-tax profit
0:48:48 > 0:48:53of between 98,500 and £123,500.
0:48:53 > 0:48:58Will there be more renovations for this couple in the future?
0:48:58 > 0:49:01- We'll go on for a while yet, yes. - We love property.
0:49:01 > 0:49:05For us, it gives us the buzz when we do the work
0:49:05 > 0:49:07and we see the end product.
0:49:07 > 0:49:11- I think that's the reason why we're going to do more. - Definitely.
0:49:11 > 0:49:15Now, what about that vital "huth factor"?
0:49:15 > 0:49:17We were very lucky.
0:49:17 > 0:49:21The "homes under the hammer factor" has been positive in this house.
0:49:22 > 0:49:25That, and some great teamwork!
0:49:25 > 0:49:27We get on really, really well.
0:49:27 > 0:49:30She does tell me we do, so I have to!
0:49:30 > 0:49:32But we do!
0:49:33 > 0:49:35You didn't have to say that!
0:49:39 > 0:49:43We're back in Sheffield, the steel city,
0:49:43 > 0:49:46to check on progress at this two-bed mid-terrace.
0:49:46 > 0:49:48Babul bought it at auction
0:49:48 > 0:49:52for his brother, Shibul, for £35,000.
0:49:55 > 0:49:57You've assisted him onto the property ladder.
0:49:57 > 0:50:02My parents helped when I was younger, so I thought I should do something for my brother.
0:50:02 > 0:50:06- Great. How do you feel about this? - Over-excited!
0:50:06 > 0:50:09I don't know how to explain it, to be honest!
0:50:09 > 0:50:12I'm looking forward to the future, I guess, in some ways.
0:50:14 > 0:50:19The brothers had set a £10,000 budget and a two to three months timescale
0:50:19 > 0:50:23to tackle the damp issues and bring the property up to scratch.
0:50:23 > 0:50:26They'd planned to get builders in to do the big jobs
0:50:26 > 0:50:29but to be quite hands-on themselves.
0:50:29 > 0:50:32- I'll be handling the project management.- Will you?
0:50:32 > 0:50:34I'll get him to do painting and decorating.
0:50:34 > 0:50:37I'll be able to reach the high spots!
0:50:37 > 0:50:40You're a bit taller, of course.
0:50:43 > 0:50:46Five and a half months after our first visit,
0:50:46 > 0:50:49we're back to see how things have gone.
0:50:59 > 0:51:03There's no sign of the damp that was everywhere in the place before,
0:51:03 > 0:51:04which was a great start.
0:51:04 > 0:51:07But in all honesty, I was hoping for a bit more here.
0:51:19 > 0:51:24To be fair to the boys, it's a big improvement on the semi-derelict state
0:51:24 > 0:51:27the house was in last time we were here.
0:51:27 > 0:51:29Now it's all perfectly liveable.
0:51:30 > 0:51:34In the kitchen, principally it needed a new boiler.
0:51:34 > 0:51:37The last boiler was very old and dated.
0:51:37 > 0:51:39Crucially, it wasn't working!
0:51:39 > 0:51:44So that had to be taken out and replaced.
0:51:44 > 0:51:47In terms of the kitchen, we've skimmed it,
0:51:47 > 0:51:50painted it bright colours as you can see,
0:51:50 > 0:51:54to make it a little bit more attractive.
0:51:55 > 0:51:59The boys may not have gone for a high-end finish inside,
0:51:59 > 0:52:02but have spent their money wisely on repairing the roof.
0:52:02 > 0:52:07That should mean the end of the damp problems that were everywhere before,
0:52:07 > 0:52:09especially in the master bedroom.
0:52:09 > 0:52:12The main issue was in this room in particular
0:52:12 > 0:52:14because of the problem with the roof.
0:52:14 > 0:52:17This corner here was mainly damp.
0:52:17 > 0:52:20Once we got the roof sorted,
0:52:20 > 0:52:23we came back in here and re-skimmed the whole room,
0:52:23 > 0:52:29repainted it and we've got it all sorted, so no more damp patches!
0:52:33 > 0:52:38Shibul was planning to move in, but he's still living with his brother and sister-in-law
0:52:38 > 0:52:40and their new baby, Zak.
0:52:40 > 0:52:43The brothers have decided to rent it out instead
0:52:43 > 0:52:47and the tenant, along with their pet chinchilla, seem very comfortable here.
0:52:47 > 0:52:50That's the key to understanding this renovation.
0:52:50 > 0:52:55Babul and Shibul have been very canny and done just enough to let the place out
0:52:55 > 0:52:57and get some rent coming in.
0:52:58 > 0:53:02We're not in any rush to get the bathroom sorted
0:53:02 > 0:53:05because it's in a decent condition at the minute.
0:53:05 > 0:53:11The tenants seem to find it OK as well, so we'll leave that till later,
0:53:11 > 0:53:13if we decide to do that in the end.
0:53:14 > 0:53:17Is there anything else they'd like to do to the property?
0:53:20 > 0:53:25We need to upgrade the windows and doors from single to double glazing.
0:53:25 > 0:53:29That has to be done for the whole house.
0:53:29 > 0:53:33The only other thing we may possibly do is add a few units to the kitchen.
0:53:33 > 0:53:40That with the double glazing and the doors brings the property up to a reasonable standard.
0:53:43 > 0:53:47Babul and Shibul managed to stick to their two to three month timescale
0:53:47 > 0:53:50to get the property ready for tenants.
0:53:50 > 0:53:52But how have the boys done on the budget front?
0:53:52 > 0:53:57The initial budget was to spend approximately £10,000.
0:53:57 > 0:54:01We're just halfway over, maybe around the six, £7,000 mark.
0:54:01 > 0:54:07But the double glazing, doors and kitchen units are awaited,
0:54:07 > 0:54:11so we'll marginally exceed that, but it's relatively within budget.
0:54:14 > 0:54:16So there's still work to do.
0:54:16 > 0:54:19But if we take their current spend of 7,000
0:54:19 > 0:54:23Babul and Shibul's total outlay to date comes to £42,000.
0:54:23 > 0:54:28We asked two estate agents to look around the house as it is and give us their thoughts.
0:54:30 > 0:54:37It hasn't improved that much. Obviously it was derelict when I came last time.
0:54:37 > 0:54:43But I expected them to change the windows, put in a new bathroom suite and new kitchen.
0:54:43 > 0:54:47But they haven't done that. They've just done mainly cosmetic work.
0:54:47 > 0:54:50The jobs they've done are the invisible jobs.
0:54:50 > 0:54:54They're jobs that to the naked eye aren't something that jumps out.
0:54:54 > 0:54:57Roof, rendering, that kind of thing.
0:54:57 > 0:55:01They're the important jobs because the rest is cosmetic.
0:55:01 > 0:55:04They've put the money into the right place straightaway.
0:55:04 > 0:55:08A roof can turn into a leak and then you've got more damage.
0:55:08 > 0:55:10So they've gone the right route first
0:55:10 > 0:55:13but the long-term plan is then kitchen, windows, bathroom.
0:55:13 > 0:55:18Just the finishing. The decorative side of things.
0:55:19 > 0:55:24In its current state, what do they think it could fetch on the resale market?
0:55:24 > 0:55:27In the sales market now, we're looking at achieving
0:55:27 > 0:55:32round about the £55,000 mark.
0:55:32 > 0:55:34As the property stands right now in this market
0:55:34 > 0:55:39we'd be looking to market it around the £60,000 mark.
0:55:39 > 0:55:40Well, there you go.
0:55:40 > 0:55:42It may not be all shiny and glossy,
0:55:42 > 0:55:45but if they were to sell it right now,
0:55:45 > 0:55:51the boys could be looking at a profit of between 13 and £18,000 minus fees and expenses.
0:55:51 > 0:55:54That's not bad at all. What about the rental market?
0:55:56 > 0:56:01The rental market, in its present condition, I'd say £400 per calendar month.
0:56:01 > 0:56:04As the property stands, with the work done so far,
0:56:04 > 0:56:09we'd be looking to achieve around 400 to £425 per calendar month.
0:56:11 > 0:56:16Again, that's a really good yield of between 11.5 and 12 per cent.
0:56:16 > 0:56:18It just shows you don't need to splash out
0:56:18 > 0:56:20to get a return on your investment.
0:56:20 > 0:56:23What do the brothers make of those rental valuations?
0:56:23 > 0:56:30I think that's a little bit low from what I know of the letting market in this area.
0:56:30 > 0:56:34But it's not too far off from what I think is the going rate.
0:56:34 > 0:56:38Yeah, it's about 500 or so, isn't it?
0:56:38 > 0:56:40I'd say 450 to 500.
0:56:42 > 0:56:46And what's their plan now for this two-bed mid-terrace?
0:56:46 > 0:56:49- You're going to keep letting it. - Letting it out.
0:56:49 > 0:56:52We've got very good tenants in at the moment. Yes.
0:56:54 > 0:57:00That's it for today. We're back with more thrills and spills from the auction room next time.
0:57:00 > 0:57:02- Make sure you join us then. - Goodbye!- Goodbye!
0:57:23 > 0:57:26Subtitles by Red Bee Media Ltd