Episode 53 Homes Under the Hammer


Episode 53

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Transcript


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Hello. Welcome to the show!

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The auction property market is worth billions of pounds each year.

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They're quite big numbers, so don't be put off by that.

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No. Auctions are a level playing field. Anyone can take part

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as long as you've got the cash and the confidence.

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Now, there are property auctions all over the country and throughout the year.

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So you're spoilt for choice.

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Let's see which properties made their buyers part with their cash on today's show.

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In Cheshire, this house may hold the key to finally shutting me up!

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And at last! Shutters!

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Fantastic!

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There's a property in Gravesend, Kent, that gives me the chills!

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Hold on a minute - there's no radiators in here.

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And in Hammersmith, west London,

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a flat that can't be your home.

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Wow! In English, that means if you buy it, you can't live in it!

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All these properties have been sold at auction.

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We find out who bought them and what they paid when they went under the hammer.

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Yours!

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I'm in the affluent village of Bowdon in Cheshire,

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popular with celebrities and some of the north-west's successful entrepreneurs.

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Unsurprisingly, it boasts some impressive properties.

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The house I'm here to see occupies this corner plot.

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And pretty impressive it looks, too.

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Three bedrooms. Had a guide price of 300 to 350,000 quid,

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which for round here I think is tremendous value for money.

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Question is, can the interior match up to the grand exterior?

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The house is on a busy main road and sits on a corner plot,

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flanked closely by its neighbours.

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But I love the look of it and prices here have been static in the last few years,

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a good indication of just how desirable this area is.

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Great sense of anticipation.

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But unfortunately, very disappointing when you come in here.

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It's a good-sized space, lots of light pouring in,

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but very little character. Lots of woodchip wallpaper.

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Big space, though, the main living area here.

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Down this corridor, a rear entrance through to a small courtyard.

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Then through into the kitchen.

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But once again, you expect something grand to match the house.

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But fairly standard, run-of-the-mill stuff. It could be so much more.

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But the space is quite nice. A family kitchen/dining area here, which is good.

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And at last! Shutters! Fantastic!

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Some original features!

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Maybe all is not lost!

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So far, the inside is in need of a good makeover

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to help it match the outside.

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Upstairs is a bathroom and three good-sized bedrooms,

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all of which are crying out for some love and attention.

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But this is a house with some hidden depths!

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In terms of extending this house,

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your options to go either side of it are fairly limited

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because it's on this corner plot. However,

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great news down here in the cellar. The only issue is the head height.

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Ideally, you want this to be about 2.4 metres

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to give a feeling of space and loftiness.

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That's what the average room is.

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This isn't, it's just over six foot. So what are the options?

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One thing, which is what someone's been looking at here, is to dig down.

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Dig away the floor, thereby giving extra head height.

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But that is a very labour-intensive process.

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All the muck, dirt, soil, has to be carried out by hand.

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So it can be quite expensive and it's worth employing a specialist cellar contractor.

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You want the walls damp-proofed, et cetera, et cetera.

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And in an old building, you've also got to let it breathe.

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So a great property with an unusual but potentially promising way to extend.

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And it had a 300 to £350,000 guide price.

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We asked a local estate agent

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to cast his expert eye over it and give us his thoughts.

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The house is located in a conservation area.

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Because of that, we'll find it very, very difficult indeed

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to get planning permission to alter the external appearance of the property.

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However, there's a super basement area

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and I think that's the place that will increase the footprint.

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If someone were to modernise this place, but leave the basement be,

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how much could it be worth?

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The house renovated would easily make £500,000.

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What impact could converting the cellar have on the sale price?

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Assuming a full and complete renovation of the house

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embracing the basement conversion,

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I would suspect that this house would achieve in the late 500s,

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possibly up to 600,000.

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And if it were rented out?

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A typical rental value for this house

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would be in the order of £1,500 per calendar month.

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So, a lovely house in a great location with bags of potential.

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Especially when it comes to sorting out that cellar!

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I'm sure this was a fantastically popular lot

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when it went under the hammer!

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Now, ladies and gentlemen, lot four.

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How much can we say for this?

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250. Thank you.

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He'll not buy anything, but he'll start me off!

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250,000 I've got. Thank you, sir.

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260 now. 260.

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270. 280.

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Bidding continued to inch up for the next ten minutes.

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Unusually long for an auction. It finally crept up to £355,000

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where we rejoin it.

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355? Yes? 355.

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355 and a half? Yes.

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355 and a half.

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356.

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At 355 and a half I'm selling once. 356.

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At 356. Are you going again? No?

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At £356,000, this is not a dear house. You're going again.

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356 and a half.

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At 356... And 357.

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357 and a half?

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At £357,000, once. Twice. Third and final time.

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At £357,000. Yours.

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Successful with his bid of £357,000, was kitchen designer, David.

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He was bidding on behalf of his girlfriend, Suzanne.

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She had been looking for the perfect property in this area for two years.

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She'd finally fallen in love when she found this one

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which she plans to renovate with David.

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Suzanne, David, good to meet you. Congratulations! Well done on surviving that marathon!

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-It was, wasn't it?

-What was it like being in it?

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A bit hot under the collar! A bit strange and pressured, but we stayed in there.

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-When it started out, you had no idea what would happen.

-No.

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-We're not familiar with auctions.

-I'd never been to an auction.

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-I wanted David to do the bidding.

-Before we went in,

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I said to Suzanne what I thought we'd have to go to to get it.

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And we weren't very far off on that.

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Suzanne, why were you so keen to buy this house?

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I went by my instincts. I was very excited about it.

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I hadn't felt excited about any house I'd viewed in two years, so I though I'd go for it.

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What got you going about this house?

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I just could see it having a lot of charm once I'd finished with it.

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I liked the look on the outside. It's 150 years old and it looks cute.

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There's something about it. I love the brickwork. And I love the area.

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Tell me exactly what you're planning to do.

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We're going to completely transform the cellars downstairs.

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-The cellars?

-Yes.

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We have two and a half rooms downstairs, and we've found a further room below this kitchen.

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-What have you found?

-Once we got the house and we brought a builder down,

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they pulled away a wood panel and the whole area was doubled up.

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The area under the kitchen has actually already been partly excavated

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and hopefully it's not too big a job when you're doing all the work

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to almost double the room that was downstairs when we first saw the house.

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-What a find that was!

-Yeah.

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How fantastic. That, as well as the additional room the cellar already offered

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means even more for Suzanne to work with down there.

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That allows more freedom in what she chooses to do with the rest of the house.

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And she's got further plans.

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We're going to drop all these walls and have bi-folding glass doors

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-so that all you see when you walk in is the courtyard.

-Wow.

-Yes.

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So it'll all be open-plan in here?

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Open-plan, but it's already open-plan as you walk through the front door.

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We'll have a glass door to the kitchen.

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Suzanne, convenient to hook up with a kitchen designer!

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Yes!

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-Was there a plan there?

-No, absolutely not.

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No, no plan. He's just got to prove himself now!

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-David, what plans have you got for the kitchen?

-In this case,

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I have a very important client. So it's a trickier one.

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The main thing is that this window is going to come out

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and that's where the bi-folding doors will go across.

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So there's a couple of choices. At the end of the day,

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in this case, Suzanne makes those decisions. I want her to have the kitchen she wants.

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But basically we're going to use this wall for the majority of the kitchen in terms of units.

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We have a choice in terms of sink whether we use that window or not.

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We'll probably get an island in here. But until we knock the wall down,

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and get a feel for it, then we'll sit down and work it out.

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There are always options and then it's personal choice.

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I'm there to lend a guiding hand.

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What kind of budget have you set aside?

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-Probably round about 60 to 70,000.

-Including the cellar and everything?

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-Mm-hmm. It's a bit of a guideline at the moment.

-Good luck. I look forward to seeing how you get on.

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-Thank you.

-Thank you.

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So, will the property turn out to be worth that marathon battle at the auction?

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David and Suzanne have certainly got some good ideas.

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And discovering that additional bit of cellar

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that has to be a great start.

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Find out how they get on later in the show.

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I'm in Gravesend in Kent, part of the Thames Gateway Redevelopment Zone.

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That means it falls within the 70-mile stretch of land from East London

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to Kent that's been earmarked for new homes, better infrastructure, new jobs and improved town centres.

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It already boasts a high-speed train which transports you into the capital in under 30 minutes

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so it's commuter heaven!

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You're a couple of miles from the train station here on this 1950s estate.

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It's a pleasant suburban spot, nice and green,

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it's well-maintained, lovely gardens.

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It gives you a positive feel for the place even before we reach the property.

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I'm here to see a three-bed house with room for improvement.

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Words we like on Homes Under the Hammer!

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It doesn't look too terrible from the outside.

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Certainly for the guide price of 95 to 105,000.

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It's a very solid square box of a property. It's not instantly appealing

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with no features to speak of, but I'm hoping a look inside will reveal some great living space.

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A lot of brown tones with this house.

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Brown front door, brown banisters, brown windows,

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which tells me it's quite dark, a bit old-fashioned and needs modernising.

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Get the white, bright paint out, I say!

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But a very nice hallway. It's nice and wide. Very welcoming.

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The kitchen, look, it's incredibly dated. All the units need replacing.

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New cooker, new hob, but what I like is the space.

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There is a lot you could do in here.

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The same could be said of this room. It's dated, but it's spacious.

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Lots of opportunity in here.

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What you could do is knock down this wall and open up that kitchen.

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Put your dining table there, a nice big family space.

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But I'm not sure it would be worth spending the money.

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And your whole ground floor would be open-plan,

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so you can't get away from noise.

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But there's a rather big room here.

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A three-piece suite in here. It could be the hub of the family space.

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Nice and cosy in the winter

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You're not overlooked. Lots of mature trees out there.

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Once somebody spent a bit of money in here,

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you could have a really nice functional family space.

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The benefit of a property like this is that what it may lack in charm

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it makes up for in scope to do with what you like.

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Clear it out, tidy it up and it'll feel like a brand-new home.

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You know, it definitely feels worse up here.

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I'm sure it's just cosmetic, but everything needs doing.

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Two good-sized bedrooms and a really big bathroom.

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This is the smallest room. You could think about moving the bathroom into here

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and you have to think about the plumbing, so it's probably not worth it.

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Hold on a minute. There's no radiators in here.

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I'm sure I saw radiators everywhere downstairs.

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Let's have a look and see if...

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A-ha! Look! There's none in here.

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That is something you could so quickly miss on a viewing.

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You really need your wits about you when you view these properties.

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You could miss something like that.

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First thing I would do once moving in here

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would be to get the plumber in and get the heating sorted.

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I know there's double glazing, but you'd have been frozen in here judging by recent winters.

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In fact, downstairs, there are only two radiators and an electric fire.

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So another expense to add.

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But if you wanted to take this project on for a profit, what about adding on somewhere else?

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The garden is a lovely space. More than that, it's really big.

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A proper family size with room for a shed, a trampoline, a paddling pool

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and what about an extension?

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You could push out to the side, the rear or both

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without losing too much outside space.

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But financially, I don't think it's really worth it.

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In my opinion, let the family who end up living here

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add that square footage if they want to.

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It saves you doing the spending for little or no added return.

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Just because you can, doesn't mean you should.

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There's definitely space to go large here, but for your efforts,

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I don't think you'd make large profits.

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The property had a guide price of between 95 and 105,000.

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We asked a local estate agent along for her opinion.

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First impressions are that it's a great size,

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there's a bit of work to be done, but it's purely cosmetic.

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Other than that, a great family home.

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How much will it take to spruce it up?

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I think you could spend around the ten to £15,000 mark.

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No need to be extravagant. It's a normal family home. So 15-ish.

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Valuing this property as it is right now

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I would say approximately £110,000 to £115,000.

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Once fully renovated, I would say that this property is worth

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150 to £160,000.

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What's the possible return on rental?

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Once fully renovated,

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this property would achieve £750 per calendar month.

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Sometimes, it's good to keep things simple.

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At that guide price, I reckon this equation is pretty straightforward.

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Nice road, good solid property, not too much to spend

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equals good investment. Let's see who agreed at the auction.

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Lot 19.

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What shall we say on that one? Modern-looking house.

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Start me where you will. Start me at £100,000.

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100,000? Give me 95, then.

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95, I'm on the way. I'm obliged.

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At 95 I've got. 100 now, do I see? 100, may I say?

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At 100. And two.

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102 and five.

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105 and seven.

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And ten. Ten, may I say? 110 anywhere? 107 at the back. 110.

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12. 15. 118. 118. 120.

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And two. 122. And five.

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125, may I say? 125. And seven.

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130. 132. 135.

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135 I've got. 137, sir?

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137. 140?

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At 137 I've got. 140 I'm looking for.

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If not, at £137,000

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for the first time.

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£137,000 bid for the second time.

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Third and final time if we're all done at 137. Yours at 137.

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Soaring above the 95 to £105,000 guide price

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with their £137,000 bid

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were golf club secretary Dave and his singing teacher wife, Christine.

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They're hoping to make this property hit the high notes!

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Chris and Dave, lovely to meet you.

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You looked very serious while bidding for this at auction!

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It was a very serious business, unfortunately!

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Being our first one, it was quite serious but it was a real buzz.

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Dave, why did you want to buy this? What's the story behind it all?

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Unfortunately, Lucy, we've based all our research on Homes Under The Hammer!

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-We are sadly big fans of the show.

-I'm happy to hear that.

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We've watched it quite a lot. And we thought it would be great to have a go!

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So we had a go!

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How long did you get to spend in this house before you decided you wanted it?

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That intrigues me. People don't spend long enough in properties before buying them!

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-We were here for ten minutes.

-Ten minutes.

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And did anything go unmissed?

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-Yes!

-Well..

-We didn't know there were no radiators upstairs!

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-Really? See!

-We didn't notice that.

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And coming back now, it's worse than I remember it being.

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But it's still cosmetic. Nothing to worry about.

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It is cosmetic, but everything needs doing.

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Everything needs doing. Everything is dirty.

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Everything smells of cigarette smoke and it needs clearing out

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and modernising.

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What's the plan with this? You're intending to rent?

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-Yes.

-I'm glad you said that because you did pay at bit more at auction.

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We knew we would because there must have been 20 people here on viewing day.

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We knew, especially when there were so many people at the auction,

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-we knew we wouldn't get it for a bargain.

-Being at the auction,

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we heard other people who were going to bid on it.

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We moved - the people behind us were going to bid on it

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and we moved seats just before the lot came up to get away from them!

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-I didn't want to be bidding over my shoulder.

-Wise move, Dave! I like it!

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I've bought cars at auction in the past and I know it's a game.

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So we decided to pretend we knew what we were doing!

0:20:530:20:57

And why not? Property auctions are often about a bit of bluff and bravado!

0:20:570:21:03

Christine and Dave do have another property they rent out

0:21:030:21:06

but this is the first time they've dipped their toes into renovation.

0:21:060:21:10

So what are you going to do and where will you start?

0:21:100:21:14

Get rid of everything and start again, basically.

0:21:140:21:17

The kitchen and bathroom are disgusting.

0:21:170:21:20

The trees at the front need to go.

0:21:200:21:22

Why get rid of the trees? That gives you privacy.

0:21:220:21:25

-I think it's too dark.

-I think once you've painted this space,

0:21:250:21:29

once you've painted the window frames and given yourself some light and airy reflective colour,

0:21:290:21:35

you'll be so surprised at how it's not dark.

0:21:350:21:38

It depends on the cost. If it's £500 to cut them down, the trees will stay!

0:21:380:21:43

And YOU can cut them down!

0:21:430:21:45

We're doing nothing. We've decided that.

0:21:450:21:48

I believe in getting people to do things who know what they're doing. And we don't know.

0:21:480:21:54

So who's going to be doing all the dirty work for you?

0:21:540:21:57

I work at the golf club, and so does our builder, our decorator,

0:21:570:22:02

our plumber, our gardener.

0:22:020:22:04

When the sun's shining there won't be anybody here cos they'll all be playing golf

0:22:040:22:09

and when it rains they'll crack on here.

0:22:090:22:11

Christine, you'll have to pray for rain, chilly weather,

0:22:110:22:15

-so that some of the boys are here.

-Released for renovations only!

0:22:150:22:19

It's not often people rely on rain,

0:22:250:22:28

but if it doesn't come, this will be a "fairway" to ever getting finished!

0:22:280:22:34

Let alone with their four to six week time scale, and that's not all that's ambitious!

0:22:340:22:39

-What's your budget?

-We started off thinking it was going to be about 5,000.

0:22:390:22:44

-What?!

-We then raised it up to about eight. So eight to ten.

0:22:440:22:49

Wait, I need to go through this with you. That does worry me.

0:22:490:22:53

Eight to ten thousand for a new kitchen, new bathroom,

0:22:530:22:57

and you've got to pay all your guys.

0:22:570:22:59

I run the golf club so if they want a free game in exchange for painting a radiator, then fine!

0:22:590:23:04

There's ways round it.

0:23:040:23:06

I'm going to hold you to that! I want to know exactly every penny you spend

0:23:060:23:11

-because if you do that on that budget, I'll be very impressed.

-So will we!

0:23:110:23:15

Let's hope the sun doesn't shine until Christine and Dave's golfing team have finished the work!

0:23:170:23:22

Because there is a lot of work to do here and I hope the pair realise this.

0:23:220:23:27

Join me later to see if the refurb is below par or a hole in one!

0:23:270:23:33

Coming up, this flat in west London turns out to be much less simple than it seemed.

0:23:340:23:39

Will they turn it from a no-brainer into a bit of a head-scratcher?

0:23:390:23:43

In Kent, did Christine and Dave's hands-off approach pose more questions than answers?

0:23:440:23:49

You're wondering how are they doing and would they be finished in time.

0:23:490:23:53

But first, did Suzanne manage to make light work of this dark property?

0:23:550:23:59

It was like a dungeon down there. It was cold and miserable.

0:23:590:24:03

We're back in Bowdon in Cheshire

0:24:100:24:12

where Suzanne, who's only recently turned to property developing purchased this period house

0:24:120:24:18

for £357,000.

0:24:180:24:20

It has potential in spades. Holding her hand was boyfriend David

0:24:200:24:25

whose job was bound to come in handy.

0:24:250:24:28

Suzanne, convenient to hook up with a kitchen designer!

0:24:280:24:31

Yes!

0:24:310:24:33

-Was there a plan there?

-No, absolutely not, no.

0:24:330:24:37

No plan. He's just got to prove himself now!

0:24:370:24:41

20 months later, did David live up to expectations?

0:24:410:24:46

And did Suzanne manage to take this tired interior

0:24:460:24:49

to a greater place she could call home?

0:24:490:24:51

Wow is not the word!

0:25:080:25:10

Suzanne has done an absolutely incredible job here.

0:25:100:25:13

Every room in the house has been cleared out and transformed

0:25:130:25:17

into something stunning and special.

0:25:170:25:19

The hidden gem here was the dark and dingy basement

0:25:220:25:25

which now looks anything but.

0:25:250:25:27

But the heart of the home and the place where David would be put to the test

0:25:340:25:38

was the kitchen.

0:25:380:25:40

Well, the biggest design decision was actually to use a central island

0:25:450:25:51

and to use the bi-folding doors and eliminate

0:25:510:25:54

the window and units which were going round in a U-shape up to there.

0:25:540:25:58

Once we'd decided that, then everything else fell into place.

0:25:580:26:03

Design-wise it all fits together with a beautiful view onto the patio.

0:26:030:26:07

David isn't moving in yet

0:26:090:26:11

but it sounds like Suzanne would have had a tough job on this mega project without him.

0:26:110:26:17

It was great working with David.

0:26:170:26:19

He helped me tremendously throughout the whole project.

0:26:190:26:23

He was always at the end of the phone when I had problems

0:26:230:26:27

which was probably 24/7.

0:26:270:26:29

With the kitchen he was very patient

0:26:290:26:33

and I absolutely love my kitchen, I really do.

0:26:330:26:36

It's exactly what I wanted. Not too many gadgets, not over the top,

0:26:360:26:41

not flashy. I love the oak and the simplicity of it.

0:26:410:26:46

It works really well and there's lots of storage and it's turned out exactly how I envisaged it.

0:26:460:26:52

She certainly needed to be looking through potential goggles when she first saw this place.

0:26:520:26:58

It was a very big mess, derelict, smelly.

0:26:580:27:01

But it had the most amazing charm when I first approached the house.

0:27:010:27:05

The double-fronted Victorian house with a certain charm and I knew when I walked in I wanted to buy it.

0:27:050:27:12

But what nobody saw on first viewing was that the cellar had not three but four rooms.

0:27:120:27:18

So after lowering the floor to give the extra headroom required,

0:27:180:27:22

Suzanne set to work on maximising the space.

0:27:220:27:26

It was like a dungeon down there.

0:27:260:27:28

It was cold and miserable and the head height was 1,900.

0:27:280:27:33

I transformed it to 2.4 metres so it feels very spacey now downstairs.

0:27:330:27:39

I've also added side windows to the side elevation of the house

0:27:390:27:44

and created a bedroom there which never existed before. It was very exciting!

0:27:440:27:49

With all the amazing work done here, was Suzanne able to stick to her timescale?

0:27:490:27:55

The timescale was expected to be four months

0:27:550:27:57

and it took about ten months from the start of the build to the end of the build,

0:27:570:28:02

although it was four or five months to get certain planning permission

0:28:020:28:06

with plans drawn up, et cetera, et cetera.

0:28:060:28:10

As this property was purchased as a home rather than an investment,

0:28:100:28:15

it was well worth taking the extra time to make everything perfect.

0:28:150:28:19

But perfection costs money.

0:28:190:28:22

The original budget was 60 to 70 and I spent 200,000.

0:28:220:28:27

But I got a better spec of house.

0:28:270:28:30

Everything that I've put into the house, certainly it's a great investment for me.

0:28:300:28:36

We invited two local estate agents along

0:28:370:28:41

to hear their thoughts on Suzanne's new home.

0:28:410:28:43

I think it's a fantastic house.

0:28:450:28:46

The work they've done sets it apart from a lot of other properties in this price range.

0:28:460:28:53

I think it's wonderful, having seen what it was like originally.

0:28:530:28:57

It's been positively transformed

0:28:570:28:59

from a very, rather tired, Victorian house

0:28:590:29:03

into a stunning contemporary house and it works really well.

0:29:030:29:07

It's very striking and it's quite rare to find a house at this price point

0:29:070:29:11

that's been specified to this level.

0:29:110:29:14

Suzanne purchased this property at auction for 357,000

0:29:150:29:20

and spent £200,000 on the work

0:29:200:29:22

taking her total outlay to 557,000.

0:29:220:29:26

If she considered selling, would she get her money back?

0:29:260:29:29

I would put this on the market for a figure just under £600,000

0:29:300:29:34

at £595,000.

0:29:340:29:36

I would put it on at a figure of around £650,000.

0:29:360:29:41

I'm delighted with that. I bought this for my home.

0:29:410:29:44

I intend to stay here for a very long time.

0:29:440:29:46

I'm really pleased with the valuation.

0:29:460:29:49

Those valuations would give Suzanne a potential pre-tax profit

0:29:490:29:54

of between 38 and £93,000, minus the usual selling expenses.

0:29:540:29:58

And if she was thinking of going down the rental route?

0:29:580:30:02

Just under £2,000, at 1,950.

0:30:020:30:05

I'd be looking at a rental of £1,950 per calendar month.

0:30:050:30:10

That's probably what I'd have guessed it would be. But I don't intend to rent it out!

0:30:100:30:15

And I can't blame her.

0:30:150:30:17

She really has created something spectacular here.

0:30:170:30:21

I wouldn't want to leave it, either, and as they say, there's no place like home!

0:30:210:30:25

I love it all.

0:30:250:30:27

It absolutely feels like home.

0:30:270:30:29

I feel for the last five years I've rented

0:30:290:30:32

so I've built this house really.

0:30:320:30:34

I've put so much into it, every finest detail,

0:30:340:30:40

and so it really does feel like it's mine.

0:30:400:30:42

# As the winter winds

0:30:500:30:53

# Litter London with lonely hearts

0:30:530:30:56

# The warmth in your eyes swept me into your arms. #

0:30:560:31:02

This is Hammersmith in west London.

0:31:020:31:04

Affluent, desirable, convenient and - you guessed it - expensive!

0:31:040:31:09

Still, I reckon if I look hard enough, there may still be a property bargain

0:31:090:31:14

lurking under the snow ready to thaw out any frozen bank accounts!

0:31:140:31:18

This really is a prime London location.

0:31:180:31:23

Hammersmith tube just ten minutes' walk, the river a short stroll

0:31:230:31:28

and a Michelin-starred restaurant on your doorstep.

0:31:280:31:32

It probably comes as no surprise that property prices round here

0:31:320:31:36

may well make you see stars!

0:31:360:31:38

£245,000 was the guide price for a one-bed flat in need of work.

0:31:380:31:45

Wow!

0:31:450:31:47

The property is on the first floor of this attractive Victorian terrace

0:31:520:31:56

on a lovely street just steps from the shops.

0:31:560:32:00

But for your 245,000, you don't get any outside space

0:32:000:32:04

so it's what's on the inside that counts.

0:32:040:32:07

You don't have to venture too far inside

0:32:080:32:11

to see that it's in a shoddy old state.

0:32:110:32:14

At least things like carpets have been removed so that'll save a bit of time.

0:32:140:32:18

A tiny little bathroom definitely in need of a good seeing to.

0:32:180:32:23

A good-sized bedroom, although there is only one bedroom.

0:32:230:32:26

It would be nice if there was a feature fireplace.

0:32:260:32:29

Worse than that, though, is the kitchen.

0:32:290:32:31

That is microscopic. But I have a solution to that.

0:32:310:32:35

But through into a really good-sized room.

0:32:350:32:38

The main living room. Big windows,

0:32:380:32:41

lots of light. Again, I'd like to see a feature fireplace. But not a bad-sized space.

0:32:410:32:46

The solution to the problem is take out this wall

0:32:460:32:49

to create a kitchen/living room area.

0:32:490:32:52

That's very acceptable round here. It would totally change the feel of the flat.

0:32:520:32:56

It wouldn't be hard to bring this place back to life.

0:33:020:33:05

There are a few cracks lurking here and there,

0:33:050:33:07

but I think they're most likely to be superficial. However,

0:33:070:33:12

as with any purchase, I advise getting a surveyor's expert opinion.

0:33:120:33:15

It has wooden floors, so you could sand them down to bring back some character.

0:33:150:33:20

Open up that kitchen, put some colour on the walls,

0:33:200:33:23

replace the bathroom and it's sorted. That's it, then. Or is it?

0:33:230:33:28

So you don't get a garden for your 245,000

0:33:280:33:32

but what you do get is that!

0:33:320:33:34

It's a loft hatch and above it is a loft.

0:33:340:33:38

And that is potential for adding on an extra bedroom.

0:33:380:33:43

You'd have to go through planning

0:33:430:33:45

and get consent of the freeholder

0:33:450:33:49

but by adding an extra bedroom up there,

0:33:490:33:51

you could add on about £100,000 to the value of this place.

0:33:510:33:57

I think it's worth the effort, don't you?

0:33:570:34:00

You wouldn't just be increasing the space.

0:34:000:34:03

Making this into a two-bedroom puts it into a whole new league of potential buyers

0:34:030:34:08

and appealing to the widest market possible is the key to successful selling.

0:34:080:34:13

But just as things are looking up,

0:34:130:34:15

the small print rears its ugly head!

0:34:150:34:18

You always get that sinking feeling

0:34:180:34:22

when you see a clause or a covenant attached to the purchase of a property.

0:34:220:34:26

But this one takes the biscuit!

0:34:260:34:28

In the auction catalogue, it states that "The seller of this property

0:34:280:34:32

"cannot sell the property to a purchaser who intends to occupy it

0:34:320:34:37

"as his or her principal home."

0:34:370:34:42

Wow! In English, that means if you buy it, you can't live in it.

0:34:420:34:47

It's something councils are introducing to do with how they account for the sale.

0:34:470:34:52

Whatever the reason, it basically means that whoever buys this

0:34:520:34:55

can rent it out,

0:34:550:34:57

or if they do it up, they can sell it on to another person

0:34:570:35:01

and that clause is then nullified.

0:35:010:35:03

Either way, if you missed that,

0:35:030:35:05

it would be a very nasty shock.

0:35:050:35:08

Well, it's a strange one, but it just goes to show

0:35:120:35:15

how important it is to do your research.

0:35:150:35:18

And there are more shocks to come.

0:35:180:35:20

The service charge for this place is - wait for it - £8,000 a year!

0:35:200:35:26

So a whopping £666 a month! I think I need to sit down!

0:35:260:35:31

We asked a local estate agent what he thought of this pickle of a property.

0:35:360:35:40

First impressions are it needs a bit of work. It's very well located.

0:35:400:35:45

It's an affluent part of London.

0:35:450:35:47

You'd see houses for a family in the region of £1.2 million.

0:35:470:35:50

You'd also see first-time buyer flats at around £250,000.

0:35:500:35:54

Such as this one with its guide price of 245,000.

0:35:540:35:59

The potential here is that you would extend up into the loft,

0:35:590:36:02

create a new top floor.

0:36:020:36:04

If you were lucky enough to incorporate a bathroom,

0:36:040:36:07

you could get a good two-bed, two-bathroom property.

0:36:070:36:10

How could these changes affect the figures?

0:36:100:36:13

Value today, you'd be looking in the region of £250,000 in current condition.

0:36:130:36:18

If it was upgraded as a one-bedroom I'd expect to achieve in the region of £300,000.

0:36:180:36:24

As a two-bedroom, I'd look to achieve £450,000.

0:36:240:36:28

Wow, that's some jump!

0:36:280:36:30

What about rental figures?

0:36:300:36:33

You'd be able to rent this out for 1,200 to £1,300 per calendar month.

0:36:330:36:38

If this property came to the market as a two-bed,

0:36:380:36:40

I'd see it achieving £1,600 per calendar month.

0:36:400:36:44

Well, this is a classic auction property.

0:36:450:36:48

It teases you with an attractive guide price and the promise of quick profit

0:36:480:36:52

but scratch the surface and it's not quite that simple.

0:36:520:36:56

That restrictive clause and the huge service charge

0:36:560:36:59

turn it from a no-brainer into a bit of a head-scratcher.

0:36:590:37:03

Still, I think there are profits to be made.

0:37:030:37:06

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

0:37:060:37:09

Where would you like to start?

0:37:130:37:15

200. Thanks(!) 205.

0:37:150:37:18

205. 210.

0:37:180:37:20

215. 220.

0:37:200:37:23

225. 230?

0:37:240:37:27

226?

0:37:270:37:28

Yeah? 227? MOUTHS

0:37:280:37:31

240? 240.

0:37:310:37:33

241. 242.

0:37:330:37:35

245.

0:37:350:37:37

250?

0:37:370:37:38

250. 251.

0:37:380:37:41

252.

0:37:410:37:42

Bidding continued apace for this particular property.

0:37:420:37:46

We rejoin as it reached 276,000.

0:37:460:37:49

276?

0:37:490:37:51

277?

0:37:510:37:53

278?

0:37:530:37:54

279?

0:37:560:37:57

280?

0:37:570:37:59

279 sitting down.

0:38:020:38:04

280 elsewhere?

0:38:040:38:06

279 first time. Second time.

0:38:060:38:09

Third and last time. Have you all done?

0:38:090:38:12

Sold 279. Well bought.

0:38:120:38:14

Successful with their £279,000 bid

0:38:140:38:18

were local married couple John and Lisa.

0:38:180:38:21

Since we know this place can't be for them to move into,

0:38:210:38:25

I was keen to find out why they wanted to get their hands on it.

0:38:250:38:28

-John, Lisa. Lovely to meet you. Thanks for coming out in the cold!

-It sure is!

0:38:280:38:33

-Tell me why you wanted to buy this place.

-This is a first one for us.

0:38:330:38:37

I've done it for a living for 20 years and Lisa wanted to do something with me.

0:38:370:38:41

-So I said, "Why not do something together and go to the auction?"

-Yeah.

0:38:410:38:47

-What do you do when you're not doing this?

-Look after the kids. Three of those.

0:38:470:38:51

Bit busy. Also I was a freelance journalist and I've taken time out to spend with the kids.

0:38:510:38:57

And I help John with his business, so bits and pieces, really.

0:38:570:39:01

-You like the idea of property developing?

-Now the kids are a bit older

0:39:010:39:05

and I've watched John do what he's doing

0:39:050:39:07

and watching TV programmes that are all the rage,

0:39:070:39:11

I thought, "Maybe it's something I can learn about and get into."

0:39:110:39:16

Tell me more about what you do, John.

0:39:160:39:18

I build houses for very rich people.

0:39:180:39:21

A couple I've just built in Hampstead, one just sold for 44 million!

0:39:210:39:25

44 million?!

0:39:250:39:27

Yes! 15,000 square feet and the most expensive house in Hampstead.

0:39:270:39:32

We built another one in St John's Wood that just sold for 31 million.

0:39:320:39:36

So I'm pretty good at what I do - I hope I am, anyway -

0:39:360:39:40

so I'm downgrading to this one-bedroom flat

0:39:400:39:43

and hopefully it won't be too much hassle!

0:39:430:39:48

So, yeah, it's exciting. I'm looking forward to it

0:39:480:39:52

and it's for ourselves, so I don't have to answer to clients or anything.

0:39:520:39:56

That's the key to this project for John and Lisa. Something small

0:39:560:40:01

in relative terms for them to get stuck into.

0:40:010:40:04

But when it came to auction day, it very nearly wasn't this place.

0:40:040:40:08

I had a budget at a point of where I wasn't going to go over.

0:40:090:40:13

It was 280,000.

0:40:130:40:16

-So...

-That's what the budget was.

0:40:160:40:18

That's what the budget was. So everything we'd looked at previously went over by ten, 20%

0:40:180:40:24

than anything we'd done.

0:40:240:40:25

So I wasn't expecting to win it. When we did, I was shocked!

0:40:250:40:29

And I had to go and write a cheque out as well!

0:40:290:40:32

It was first-time nerves and it was adrenaline.

0:40:320:40:36

It was very good, very exciting.

0:40:360:40:38

Yeah, very happy.

0:40:380:40:40

So let's talk about the potential for this place. The numbers, the profit.

0:40:400:40:44

It really is extraordinary, isn't it?

0:40:440:40:46

Apparently, a one-bed sells at quite a good price

0:40:460:40:50

but it really leaps up if you can turn it into a two-bed.

0:40:500:40:53

That's the reason why we thought this would be perfect. Two-bed really adds value to it.

0:40:530:40:59

It certainly does.

0:40:590:41:01

John and Lisa plan to convert that fantastic loft space

0:41:010:41:05

into a second bedroom and bathroom and bring the rest of the property up to date

0:41:050:41:09

with a few original features thrown in. I like the sound of that.

0:41:090:41:14

Their provisional budget is £53,000.

0:41:140:41:17

They aim to complete the work in under four months then sell the property on.

0:41:170:41:22

But there's one last thing that's bothering me.

0:41:220:41:25

Now, there is a big service charge, isn't there?

0:41:250:41:28

A lot of that was to do with the roof,

0:41:280:41:30

which was a pretty high price to replace the roof.

0:41:300:41:34

So we were aware of that and we can do it cheaper.

0:41:340:41:39

-So...

-It's not cheaper.

0:41:390:41:41

With the loft conversion, half the room is a mansard

0:41:410:41:44

so it's going to be renewed anyway.

0:41:440:41:46

-The front half is shared costs with below.

-That should cut most of the service charge anyway.

0:41:460:41:51

Also I've spoken to the owner below

0:41:510:41:54

and we're going to approach to buy the freehold as well.

0:41:540:41:57

So to sell the property with the freehold is more attractive, bringing more buyers in.

0:41:570:42:02

The council is going to give us a price.

0:42:020:42:04

They seem to have covered every angle.

0:42:040:42:07

Isn't it great when you've got an expert on hand?

0:42:070:42:10

With John's experience,

0:42:100:42:12

I think giving this place the high-tech and high-spec finish it deserves

0:42:120:42:17

won't be a problem.

0:42:170:42:19

But will they sort out the issues regarding the service charge

0:42:190:42:22

and will they manage to sell in this frosty climate?

0:42:220:42:26

Find out later in the show.

0:42:260:42:29

There's been plenty of time for our buyers to have started work on their properties.

0:42:310:42:36

But have they actually done anything

0:42:360:42:39

or have they been beset by problems?

0:42:390:42:41

Time is money. Have they made any or just lost out?

0:42:410:42:45

Let's go back and find out.

0:42:450:42:47

We're going back to Gravesend in Kent

0:42:550:42:57

where golf club secretary David and singing teacher wife Christine

0:42:570:43:01

purchased this three-bed semi for 137,000.

0:43:010:43:05

This was going to be their first development project.

0:43:050:43:09

But they'd taken tips from a very reliable source!

0:43:090:43:12

We've based all our research on Homes Under The Hammer

0:43:120:43:16

-because we are sadly big fans of the show.

-I'm happy to hear that!

0:43:160:43:20

We've watched it quite a lot and we thought it would be great to have a go.

0:43:200:43:24

So we had a go!

0:43:240:43:26

Hopefully, they were watching carefully!

0:43:260:43:29

This property may have been good and solid,

0:43:290:43:32

but inside it required everything from new heating to desperately needed decor.

0:43:320:43:37

So have they done it all in the three months since we last saw them?

0:43:370:43:41

After clearing everything out of the property,

0:43:460:43:49

Christine and David re-plumbed, rewired,

0:43:490:43:52

sorted out the windows and radiators and decorated it from top to toe.

0:43:520:43:57

We all know that two of the major selling features of a property

0:44:110:44:15

are the kitchen and bathroom. So what did they do with those?

0:44:150:44:19

So everything here needed replacing. The cupboards were really awful. So everything was ripped out.

0:44:190:44:26

Then we decided what to replace it with.

0:44:260:44:28

It's easier to keep things where they are, like the sink and the plumbing, as much as possible.

0:44:280:44:33

Our builder selected the best units he could.

0:44:330:44:37

They're good strong units that will hopefully last for ever.

0:44:370:44:41

So it was a case of getting rid of all the rubbish,

0:44:410:44:43

tiling it and painting it so it's lighter and brighter. Good flooring.

0:44:430:44:48

We're really pleased with the results.

0:44:480:44:51

I'm not surprised. This looks so much fresher than before.

0:44:510:44:55

Let's hope the bathroom follows suit!

0:44:550:44:57

We've done a few things in here.

0:44:580:45:01

We stripped all the old suite out

0:45:010:45:03

and gone for a nice plain white neutral suite.

0:45:030:45:05

Took the shower cabinet out, which was disgusting, and replaced with an on-the-wall shower.

0:45:050:45:10

New tiling, accent tiles on the walls. Towel rail.

0:45:100:45:14

New flooring. It looks a million times better.

0:45:140:45:18

Dave and Christine have also tidied up the back garden

0:45:180:45:21

by painting the fences, repairing parts of the patio

0:45:210:45:24

and trimming the lawn.

0:45:240:45:26

In the front garden, I liked the fact that the trees gave privacy.

0:45:260:45:29

But David thought they made the property too dark.

0:45:290:45:32

Lucy suggested we keep the trees.

0:45:320:45:35

We were going to get rid of them to bring more light in.

0:45:350:45:38

But it was a couple of days' work and a four-figure sum to get rid of them.

0:45:380:45:43

We decided that wasn't cost-effective.

0:45:430:45:45

Especially given their planned budget

0:45:450:45:48

of just eight to 10,000,

0:45:480:45:50

which as I told them at the time was mighty ambitious!

0:45:500:45:54

About 12.5 in total, it's cost us.

0:45:550:45:58

We could have spent a lot more, but we've tried to do the house to a budget.

0:45:580:46:02

We've done the minimum, but to a good standard.

0:46:020:46:05

It looks great. So much better now.

0:46:050:46:08

We're quite pleased with the results.

0:46:080:46:10

They'd also hoped to get the work completed in six weeks.

0:46:100:46:15

It's taken a couple of months from start to finish.

0:46:150:46:18

It wasn't helped by the fact that a lot of our guys went on a golfing holiday for a week!

0:46:180:46:22

But once back, they had renewed enthusiasm

0:46:220:46:25

and they got on and got the job done in a reasonable frame of time.

0:46:250:46:29

It took a little bit longer than we anticipated.

0:46:290:46:32

Christine and David decided that as novices, they'd best leave the work to the experts

0:46:320:46:38

which occasionally was a challenge in itself!

0:46:380:46:41

You're always wondering how they're getting on, whether they'll be finished in time.

0:46:410:46:46

Not worried, but it's always on your mind.

0:46:460:46:49

It's been funny for me working at the golf club and seeing our builders turning up to play golf

0:46:490:46:55

and I'm, "Is that the time? Have you finished?"

0:46:550:46:57

But I never said it because I know they've done a day's work first.

0:46:570:47:01

They've gone that bit further and done that bit extra for us.

0:47:010:47:05

We'll use them again.

0:47:050:47:07

It sounds to me like the project has been a success overall.

0:47:070:47:11

We invited two estate agents to look at the property

0:47:110:47:15

and give us their take on it.

0:47:150:47:17

The main changes to this property since I saw it last

0:47:180:47:21

is that they've decorated throughout,

0:47:210:47:24

put in new kitchen, new bathroom, new carpets, so it's all refreshed.

0:47:240:47:28

Good first impressions.

0:47:280:47:30

Nice new carpet throughout, neutral walls.

0:47:300:47:33

A nice dining space and living room.

0:47:330:47:36

A good area close to local schools and shops.

0:47:360:47:39

Not too far away from Ebbsfleet, so it's 20 minutes into London, which is really popular.

0:47:390:47:46

Christine and David paid 137,000 at the auction

0:47:470:47:51

and the work set them back a further £12,500

0:47:510:47:54

making their total outlay £149,500.

0:47:540:47:59

Would they make their money back if they decided to sell?

0:47:590:48:02

I would say the resale value in the current market would be around £160,000

0:48:040:48:09

The resale value of this property would be £180,000.

0:48:090:48:13

-It's about what we thought.

-Pretty much.

0:48:130:48:15

We were looking at, at the time we bought it, about three months ago,

0:48:150:48:19

that when it was done up we thought about 170, didn't we, to sell.

0:48:190:48:23

We paid a bit more at the auction than we intended to, but that's fine. Pleased with that.

0:48:230:48:29

After spending a total of £149,500,

0:48:290:48:33

Christine and Dave could be looking at a pre-tax profit

0:48:330:48:36

of between 10,500 and £30,500,

0:48:360:48:41

minus the usual selling expenses.

0:48:410:48:43

The plan here was never to sell, though.

0:48:430:48:46

It was to refurbish, then rent it out.

0:48:460:48:49

I think the rental value of this property is around 750 to £800 per calendar month.

0:48:490:48:54

We would rent this property at £800 per calendar month.

0:48:540:48:58

That's pretty much what we were expecting.

0:48:580:49:00

But after it had all been done and I asked an estate agent to look at renting it,

0:49:000:49:05

he thought about 800, so we put it up for 850 and got 825.

0:49:050:49:10

-So we're really pleased.

-Yes.

0:49:100:49:12

So the house is already rented. At £825 per calendar month,

0:49:120:49:17

it's giving them a rental yield of over 6.5 per cent.

0:49:170:49:21

Christine and David have already bought their next property,

0:49:220:49:25

so it seems they've been bitten by the development bug!

0:49:250:49:29

This has worked out really well. We're pleased with the results.

0:49:290:49:33

-We've learned a lot.

-Learned loads of lessons.

0:49:330:49:36

Hopefully next time we'll make less mistakes. You never know.

0:49:360:49:39

Time to head back to affluent Hammersmith, west London,

0:49:460:49:51

where husband and wife John and Lisa purchased this one-bed first-floor flat for 279,000.

0:49:510:49:58

Small change compared to some prices in London.

0:49:580:50:01

I build houses for very rich people.

0:50:010:50:04

One I built in Hampstead has just sold for 44 million!

0:50:040:50:08

44 million?!

0:50:080:50:11

Yes! 15,000 square feet and the most expensive house in Hampstead!

0:50:110:50:16

So, working on a somewhat smaller scale here,

0:50:160:50:19

they set themselves the challenge of taking this place from tired to top-drawer.

0:50:190:50:24

We've come back six months on to find out how they've fared.

0:50:240:50:28

The property had a tiny kitchen and a wall begging to be knocked down, which they did.

0:51:040:51:09

The last time when you were here, you might remember there was a wall here, with a tiny kitchen.

0:51:230:51:29

Door there.

0:51:290:51:30

So we've knocked the wall down

0:51:300:51:33

and it's really opened it up.

0:51:330:51:35

It's opened up the living area and made it look much more homely.

0:51:350:51:40

Obviously spacious

0:51:400:51:42

but still homely and a nice place to be rather than cramped. So it's lovely. I'm pleased with it.

0:51:420:51:48

But the biggest task here was to take the dark and dingy loft

0:51:480:51:52

and turn it into something special.

0:51:520:51:54

And it's a job very well done, by the look of things.

0:52:020:52:07

It's worked out really well, actually.

0:52:070:52:09

We didn't realise it was going to come to this size.

0:52:090:52:13

We've got double doors here and to get the ceiling height, we dropped the floor

0:52:130:52:18

to give more ceiling height.

0:52:180:52:20

We managed to get the en-suite shower and toilet in as well.

0:52:200:52:23

A big bonus, actually.

0:52:230:52:25

It's looking very fresh and a lot better than we originally thought.

0:52:250:52:29

Great as it looks and positive as he sounds now,

0:52:290:52:33

there was a nasty shock in store for them not long after completing on the flat.

0:52:330:52:37

We did have a bit of a problem.

0:52:370:52:40

We were talking about perhaps buying the freehold.

0:52:400:52:43

The people downstairs were interested as well.

0:52:430:52:46

Then we discovered that the loft didn't actually belong to us!

0:52:460:52:50

So that was a bit of a shock, to say the least!

0:52:500:52:55

I phoned to ask the solicitor why he didn't tell us!

0:52:550:52:58

Anyway, the demise of the loft we now own. We had to pay the council for the demise.

0:52:580:53:03

All in, they wanted an extra 30,000 on top of what we paid for the flat.

0:53:030:53:06

It was a shock.

0:53:060:53:08

We're the only ones up here and who else is going to use it?

0:53:080:53:12

But we were more cross that the solicitor didn't pick it up.

0:53:120:53:17

And a bit upset when he said, "You should have known, surely?"

0:53:170:53:21

You sort of think, "Well, no! We're asking your advice."

0:53:210:53:27

But we thought there's no point in worrying about it. We just had to get on.

0:53:270:53:32

We needed to do it as quickly as possible. And that's what we did.

0:53:320:53:36

That's the spirit! But there's definitely a lesson to be learned.

0:53:360:53:40

When purchasing a property, it's dangerous to assume anything.

0:53:400:53:44

Make sure you check the small print and if you're unsure of anything, ask questions.

0:53:440:53:49

Lisa had been hoping to take the reins here,

0:53:490:53:53

but you know what they say about the best-laid plans!

0:53:530:53:57

I was going to do a lot more than I did, but I got two new jobs come up

0:53:570:54:01

which I didn't want to turn down.

0:54:010:54:03

So I went on to do my own work

0:54:030:54:06

and left John to it cos he knows what he's doing!

0:54:060:54:09

-I'll do the next one!

-I don't know about that!

0:54:090:54:12

Surprises aside, it's good to hear they're not put off taking a property plunge again.

0:54:120:54:17

Their aim was a four-month timescale

0:54:170:54:20

and after two months to resolve the issues with the loft and to get planning permission,

0:54:200:54:24

the work did, in fact, take four months to complete.

0:54:240:54:28

But what about that £53,000 budget?

0:54:280:54:30

We've done well. Apart from the demise for the loft,

0:54:300:54:33

which was obviously 30,000,

0:54:330:54:36

the full conversion comes to 45,000, so we're 8,000 under budget.

0:54:360:54:41

We asked two estate agents to come to the property and give their assessment

0:54:430:54:47

on whether the couple will make their money back.

0:54:470:54:50

First impressions are good.

0:54:500:54:52

It's light, bright, a new finish.

0:54:520:54:54

They've done well with the space that they have.

0:54:540:54:58

It was a good idea to do the loft conversion to utilise the space

0:54:580:55:02

in the roof.

0:55:020:55:03

It will increase the overall square footage of the property as well as the value.

0:55:030:55:08

John and Lisa are undecided whether they should rent or sell.

0:55:080:55:11

What returns could they see for each option?

0:55:110:55:15

If you put this property on the rentals market, you'd achieve between 16 and £1,700 per month.

0:55:150:55:20

I'd expect this to achieve for rentals around £1,600 a month.

0:55:200:55:25

-Yes, that's the feedback we've been having.

-Yeah.

0:55:250:55:28

A couple of people have said it could be more.

0:55:280:55:31

So we're fairly happy with that.

0:55:310:55:33

They purchased the property for 279,000 plus £30,000 to buy the loft.

0:55:330:55:40

With the work costing £45,000, that's a total spend of 354,000.

0:55:400:55:47

What could they make if they decided to sell?

0:55:470:55:50

This would achieve in the region of £400,000.

0:55:500:55:53

If you put this up for sale, you'd expect to achieve between 460 and £470,000.

0:55:530:55:58

-OK.

-That's a big difference.

0:55:580:56:00

The offers that we've had are in the middle of that, anyway.

0:56:000:56:04

-That's nice.

-It's about right.

0:56:040:56:05

I don't think that we would hold out for 460 or 470 if we're definitely going to sell.

0:56:050:56:11

But it's nice to know.

0:56:110:56:14

But also to have that middle ground as well is fine.

0:56:140:56:18

So they could be looking at a pre-tax profit

0:56:190:56:22

of anywhere between 46 and £116,000,

0:56:220:56:25

minus the usual selling expenses.

0:56:250:56:28

No wonder they're happy.

0:56:280:56:30

Would their top tip for success be team work?

0:56:300:56:33

-Yeah.

-Yeah!

0:56:340:56:36

-She does the research, I do the building. Works perfectly.

-Fair enough!

0:56:360:56:40

-No, we've had a good time together.

-Yeah.

-Absolutely fantastic.

0:56:400:56:44

That's it for now. We'll have more auction stories to warn or inspire you next time!

0:56:460:56:53

-Make sure you join us then.

-Goodbye!

-Goodbye!

0:56:530:56:56

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