0:00:02 > 0:00:04- Hello, and welcome to the programme. - We both enjoy dabbling in the property market
0:00:04 > 0:00:06and we're always looking to snag a bargain.
0:00:06 > 0:00:09But in today's competitive market that's not always easy.
0:00:09 > 0:00:14One way you could possibly secure yourself a good deal is to go to the auctions.
0:00:39 > 0:00:43Now, buying at auction is becoming increasingly popular.
0:00:43 > 0:00:47That's because there's no messing about. Once that hammer falls,
0:00:47 > 0:00:48you've exchanged contracts.
0:00:48 > 0:00:52So, here are the three properties we're featuring on today's show.
0:00:53 > 0:00:57I've spotted a rather odd storage solution in Cornwall.
0:01:00 > 0:01:02What a very strange place for a kettle!
0:01:04 > 0:01:08In Nottinghamshire, the decor's had enough of this bungalow.
0:01:08 > 0:01:10Wallpaper... Ugh!
0:01:10 > 0:01:13..literally coming down.
0:01:13 > 0:01:18And there's plenty of room for improvement at this mid-terraced house in Kent.
0:01:18 > 0:01:20But I'm not put off.
0:01:21 > 0:01:23All in all... It's kind of cute.
0:01:24 > 0:01:28All these properties have been sold at auction
0:01:28 > 0:01:32and we'll find out who bought them and what they paid for them when they went under the hammer.
0:01:35 > 0:01:38I'm on Cornwall's south coast,
0:01:38 > 0:01:41just outside the market town of St Austell.
0:01:41 > 0:01:45It's an area often referred to as the Cornish Riviera.
0:01:45 > 0:01:47St Austell is famous for its china clay pits,
0:01:47 > 0:01:50which have played a key role in shaping its history.
0:01:50 > 0:01:53But although the town may have a foot in the past,
0:01:53 > 0:01:57it's looking to the future, due to the success of the nearby Eden Project,
0:01:57 > 0:02:01new developments and a regeneration of the shopping area.
0:02:01 > 0:02:06Well, on this busy, busy main road just outside the town centre
0:02:06 > 0:02:09is the property I'm here to see.
0:02:09 > 0:02:13And let's hope it's slightly more appealing inside
0:02:13 > 0:02:16than its exterior would lead you to believe.
0:02:16 > 0:02:19Seems quite reasonable in size, though - three bedrooms,
0:02:19 > 0:02:24semi-detached at a guide price of 70,000 quid. Let's take a look.
0:02:25 > 0:02:29The distinctive colour of this house could leave some potential buyers
0:02:29 > 0:02:31feeling a little green around the gills.
0:02:31 > 0:02:35But let's see if inside it will make me green with envy.
0:02:35 > 0:02:38So, ex-council property, and I like those -
0:02:38 > 0:02:41you generally have a lot of space for the money and they're pretty solid.
0:02:41 > 0:02:43However, erm...
0:02:43 > 0:02:45that's not too good a start.
0:02:45 > 0:02:48I thought the rendering on the way in looked a bit dodgy,
0:02:48 > 0:02:52and it looks to me like that might be penetrating or potentially rising damp.
0:02:52 > 0:02:54But, in through the front door, turn left,
0:02:54 > 0:02:57you come to this room, your main living room area.
0:02:57 > 0:03:01You've got an open fire, which is nice. Reasonably high ceilings.
0:03:01 > 0:03:03And already, I like the feel of this place.
0:03:05 > 0:03:09The damp may be a problem, but there's something quite comforting and cosy about this room.
0:03:09 > 0:03:13Even though I'm not the biggest fan of that serving hatch in the kitchen.
0:03:13 > 0:03:17# There's a hole in my life... #
0:03:20 > 0:03:21So... Ooh, squeaky door.
0:03:21 > 0:03:24Into the kitchen and, erm...
0:03:26 > 0:03:30..what a very strange place for a kettle!
0:03:30 > 0:03:34Very odd. Anyway, in terms of a space, not too bad.
0:03:34 > 0:03:39Range cooker there, really like that. With a service, I'm sure you could get that working
0:03:39 > 0:03:42and it could create a really nice focal point for the room.
0:03:42 > 0:03:44Lots of light coming in through the windows.
0:03:44 > 0:03:47Clearly the units and everything could do with replacing,
0:03:47 > 0:03:51maybe just replace the fronts, perhaps, if the actual carcasses are OK.
0:03:51 > 0:03:54But, hang on a minute, that is a bit more serious.
0:03:54 > 0:03:58That is the only bathroom in the property. It's not even a loo,
0:03:58 > 0:04:01it's just where the bath, the shower and the little sink unit are.
0:04:01 > 0:04:05Clearly, right off the kitchen isn't ideal.
0:04:05 > 0:04:08Maybe there is space for it upstairs. I'm going to have a look.
0:04:08 > 0:04:10Up here, there are three bedrooms and the toilet.
0:04:10 > 0:04:15Straight away, it's clear that shifting the bathroom up here is not a viable option
0:04:15 > 0:04:17unless you sacrifice the boxroom.
0:04:17 > 0:04:19And I don't think that would work.
0:04:19 > 0:04:24This feels like a decent-sized three-bed family home,
0:04:24 > 0:04:27but maybe there's an alternative at the back.
0:04:27 > 0:04:31So, at the rear of the property, this fairly obnoxious aluminium lean-to.
0:04:31 > 0:04:33You definitely want to get rid of that.
0:04:33 > 0:04:36And in its place, how about building some kind of extension?
0:04:36 > 0:04:39You've got the space for it, because the garden is huge.
0:04:39 > 0:04:44Stretches all the way here. Unfortunately, at the moment it's more like a concrete jungle.
0:04:44 > 0:04:46So, landscaping definitely required.
0:04:46 > 0:04:49You have got this little pond area here, which is quite nice.
0:04:49 > 0:04:53And you certainly can't knock the views. But this is not too pleasant.
0:04:53 > 0:04:56When it comes to that extension, is it worth it?
0:04:56 > 0:05:00I'm not sure how much value you're going to add to the property by putting it on.
0:05:00 > 0:05:04Need to investigate that. And there's one other thing I haven't told you about,
0:05:04 > 0:05:07and the word "concrete" is a bit of a clue.
0:05:07 > 0:05:09# Concrete jungle... #
0:05:09 > 0:05:12Not all of the garden is so heavily paved.
0:05:12 > 0:05:17At the bottom there's a secluded area, that, once cleared and tidied, could be a real bonus.
0:05:17 > 0:05:21However, I do have some concrete concerns here.
0:05:21 > 0:05:25Before the property was sold, it underwent a concrete report
0:05:25 > 0:05:26and, you guessed it,
0:05:26 > 0:05:29it turns out that it is built of non-standard construction.
0:05:29 > 0:05:32So that could make getting the mortgage a bit of a problem.
0:05:32 > 0:05:35It gets worse, because we're in Cornwall, where mundic -
0:05:35 > 0:05:40that's block made of, basically, waste from the mines -
0:05:40 > 0:05:43were used to basically construct the properties. It's not good.
0:05:43 > 0:05:46The good news is, however, that only part of the property
0:05:46 > 0:05:50is actually made of mundic block. It's the chimney, that will need to be addressed.
0:05:50 > 0:05:52So, good news and bad news.
0:05:52 > 0:05:56And as long as whoever buys this is aware of the potential problems, then you're OK.
0:05:58 > 0:06:02But one thing's for sure, it means that this decent-sized house
0:06:02 > 0:06:05with its fabulous garden space and great views,
0:06:05 > 0:06:09will be a darn sight cheaper than a property of standard construction.
0:06:09 > 0:06:12I asked a local estate agent for his opinion on this place,
0:06:12 > 0:06:15that was guided at £70,000.
0:06:17 > 0:06:21It's a nice, large property, albeit in need of quite a lot of modernisation and renovation.
0:06:21 > 0:06:25Things like remodelling the kitchen, maybe moving the bathroom,
0:06:25 > 0:06:29which is currently downstairs, and redecoration.
0:06:29 > 0:06:32It's quite a project, but one that's worth doing, I'd say.
0:06:32 > 0:06:36Moving the bathroom could lose you a bedroom, unless you go for that extension.
0:06:36 > 0:06:40Then you'd have to think about exceeding the ceiling price for this area.
0:06:40 > 0:06:44So how do the numbers add up for this house?
0:06:44 > 0:06:47I'd say the property as it stands now is worth around £90,000.
0:06:47 > 0:06:50If the changes are made and the updating is done
0:06:50 > 0:06:55and the mundic issue is resolved, it's more like £135,000.
0:06:55 > 0:06:58What about using it as a rental investment?
0:06:58 > 0:07:01The rental market around St Austell is very strong
0:07:01 > 0:07:04and the property would fetch around £600 per calendar month.
0:07:08 > 0:07:12So, not without its problems, it is going to take some time to sort out inside
0:07:12 > 0:07:14and that non-standard construction means
0:07:14 > 0:07:18that there will always be a ceiling price on this particular property.
0:07:18 > 0:07:21Still, it is a lot of house for the money, so, at the right price,
0:07:21 > 0:07:24a good one to go for. Let's see who bought it at the auction.
0:07:26 > 0:07:29Lot eight for you.
0:07:29 > 0:07:33So who's going to say 70 for me for the house? 70 or not?
0:07:33 > 0:07:37Nobody want to start me at 70? Soon move along. Thank you. 70, we've got a 70.
0:07:37 > 0:07:38At 70. At 70.
0:07:38 > 0:07:41At 72. At 72, 72.
0:07:41 > 0:07:44At 74, at 74.
0:07:44 > 0:07:4576, 76.
0:07:45 > 0:07:4978, at 78.
0:07:49 > 0:07:5280. At 80, at 80.
0:07:52 > 0:07:5582, 82.
0:07:55 > 0:07:5784, at 84.
0:07:57 > 0:07:58At 84.
0:07:58 > 0:08:0284. 86. 86, 86.
0:08:02 > 0:08:0387. 87.
0:08:03 > 0:08:0687. 87.
0:08:06 > 0:08:0787.
0:08:07 > 0:08:09At 87 once, on my right then.
0:08:09 > 0:08:1188, good girl. 88.
0:08:11 > 0:08:1388 I've got sat once.
0:08:13 > 0:08:15At 88 twice.
0:08:15 > 0:08:17At 88,000,
0:08:17 > 0:08:19the lady on the left has it.
0:08:19 > 0:08:22All done at 88 and selling at 88.
0:08:22 > 0:08:25Madam, yours, congratulations, well done.
0:08:25 > 0:08:30That delighted successful bidder was Donna, who got it for £88,000.
0:08:30 > 0:08:33She works for Cornwall Council
0:08:33 > 0:08:38and currently lives in rented accommodation in Bodmin with her two daughters.
0:08:38 > 0:08:42This house in St Austell is a step onto the property ladder
0:08:42 > 0:08:45and I met her back at the house to find out more.
0:08:45 > 0:08:50- Donna, lovely to meet you.- Hello. - Congratulations.- Yes, very exciting.
0:08:50 > 0:08:56- You looked delighted that the auction.- Yeah. Big grin on my face since. So, yeah, it's great.
0:08:56 > 0:08:59- So why were you so happy when you bought it?- Because I got it.
0:08:59 > 0:09:03I didn't think I was going to actually get the house beforehand.
0:09:03 > 0:09:07Because it was a last-minute dash to the auction
0:09:07 > 0:09:12and then I'd just got there and was thinking things were against me.
0:09:12 > 0:09:14But, yeah, it just happened.
0:09:14 > 0:09:17Tell me about that last-minute dash. What was that about?
0:09:17 > 0:09:20I was about to exchange contracts, prior to the auction.
0:09:20 > 0:09:22- On this property?- On this property.
0:09:22 > 0:09:27And got to the solicitor's office, was about to sign the papers
0:09:27 > 0:09:29and then they called the solicitor
0:09:29 > 0:09:32and they said they wanted to go down to auction.
0:09:32 > 0:09:35- And that the auction was when?- At 1 o'clock.
0:09:35 > 0:09:39- So, a quick dash down there. - It's not really cricket, is it?
0:09:39 > 0:09:43No, not really. But, yeah, it all worked out in the end.
0:09:43 > 0:09:47Well, I suppose it was the vendor's prerogative to do that.
0:09:47 > 0:09:49But Donna's determination won through in the end
0:09:49 > 0:09:54and she ended up spending only £3,000 more than she'd originally offered.
0:09:54 > 0:09:57It wasn't the way she planned it, but despite that,
0:09:57 > 0:10:01she was determined not to let this place slip through her fingers.
0:10:01 > 0:10:03# One way or another I'm gonna find ya
0:10:03 > 0:10:06# I'm gonna get ya, get ya get ya, get ya... #
0:10:06 > 0:10:08Donna's recently divorced.
0:10:08 > 0:10:11So, with such a significant change in her circumstances,
0:10:11 > 0:10:15she was keen to find the perfect place for a fresh start.
0:10:15 > 0:10:19When I walked through the front door, I just loved the feel of it.
0:10:19 > 0:10:23I could see past all of the decoration
0:10:23 > 0:10:26and certain things that were wrong with the property
0:10:26 > 0:10:29and could just see what I wanted to do with it.
0:10:29 > 0:10:34So, it's an ideal home, family home for me and my two daughters.
0:10:34 > 0:10:36Really excited about it.
0:10:36 > 0:10:41So, an exciting new project for an exciting new chapter in her life.
0:10:41 > 0:10:44# To make a brand new start... #
0:10:47 > 0:10:50She's already got a builder lined up for the work.
0:10:50 > 0:10:52The first job will be to rid the chimney of the mundic,
0:10:52 > 0:10:56after which, the mortgage company will release the funds they held back
0:10:56 > 0:10:58until that important work is complete.
0:10:58 > 0:11:00What else has she got planned?
0:11:01 > 0:11:04I've got a Rayburn in the kitchen
0:11:04 > 0:11:07so that's going to be all serviced and make sure that works.
0:11:07 > 0:11:13Remove the conservatory-cum-greenhouse attached to the house.
0:11:13 > 0:11:18Paint the outside, do the rendering, get all the damp sorted.
0:11:18 > 0:11:22Plaster, and get new carpets and everything.
0:11:22 > 0:11:26That's the things to do in the next two weeks before I move in.
0:11:26 > 0:11:28- Two weeks?!- Yeah.
0:11:28 > 0:11:32- I'm very pushy.- No kidding!
0:11:32 > 0:11:36- So, do you have to move in in two weeks?- Yes, the removal firm's all booked.
0:11:36 > 0:11:39So, yeah, it's all go.
0:11:42 > 0:11:45A fortnight for all that? That is pushing it.
0:11:45 > 0:11:49Well, at least Donna doesn't plan to move the kitchen and bathroom,
0:11:49 > 0:11:51though she will perhaps install new units
0:11:51 > 0:11:54and also wants to put a loo in the utility room.
0:11:55 > 0:11:59She has an initial budget of five to six grand, although when all the work's complete,
0:11:59 > 0:12:03she thinks the final bill will be about 20 to 25 thousand.
0:12:04 > 0:12:09- What are you most excited about?- Just to have a home of my own, I think.
0:12:09 > 0:12:11Again.
0:12:11 > 0:12:16Just moving in with the girls, and just doing what we want to the house and it's ours,
0:12:16 > 0:12:18and having a foot on the property ladder again.
0:12:18 > 0:12:22- Well, listen, congratulations. And good luck with it.- Thank you.
0:12:22 > 0:12:26# To make a brand new start. #
0:12:29 > 0:12:35Well, 14 days to sort this place out is a challenge by anyone's standards.
0:12:35 > 0:12:37But Donna has certainly got the enthusiasm
0:12:37 > 0:12:41and how fantastic that she has once again got a home to call her own.
0:12:41 > 0:12:45Find out how she gets on later in the show.
0:12:47 > 0:12:52I'm near Nottingham in the small semi-rural village of Kelham.
0:12:52 > 0:12:55Unsurprisingly, because of all this greenery,
0:12:55 > 0:12:57it's an area popular with farmers and families.
0:12:57 > 0:13:01Newark and Southwell are nearby for shopping and schools,
0:13:01 > 0:13:05and if you're a fan of the countryside, there's plenty of fresh air on offer.
0:13:05 > 0:13:10# I'm going back to country living
0:13:10 > 0:13:14# Where the air is fresh and clean... #
0:13:14 > 0:13:18Now the property I'm here to see is this three-bedroom bungalow.
0:13:18 > 0:13:21It's got a guide price of £165,000.
0:13:21 > 0:13:24Now, it was built around the 1940s/50s
0:13:24 > 0:13:27and certainly isn't short on garden.
0:13:27 > 0:13:29So, lots of space on the outside -
0:13:29 > 0:13:32let's see if it's as generous on the inside.
0:13:32 > 0:13:36# Going back to natural living
0:13:36 > 0:13:39# Where the grass grows tall and green
0:13:39 > 0:13:42# And the sky can be seen. #
0:13:44 > 0:13:47Well, I'm glad to say it is.
0:13:47 > 0:13:52An incredible hallway - really wide, really long,
0:13:52 > 0:13:57but there is some damp setting in down here. Look at this, it's actually wet to the touch.
0:13:57 > 0:14:00You can see there's some rotten wood. Not too promising.
0:14:00 > 0:14:03You've got a lovely-sized lounge through here, though,
0:14:03 > 0:14:05nice and big and bright.
0:14:05 > 0:14:08You've got wallpaper... Ugh!
0:14:08 > 0:14:10..literally coming down.
0:14:10 > 0:14:15And, two really good-sized rooms here.
0:14:15 > 0:14:18It's a great property and it feels spacious.
0:14:18 > 0:14:21But there's an awful lot of work to do. Excuse me.
0:14:22 > 0:14:25# Ooh, what a feeling
0:14:25 > 0:14:28# When we're dancing on the ceiling. #
0:14:28 > 0:14:32Well, it seems the wallpaper is distancing itself from this property,
0:14:32 > 0:14:35and perhaps with good reason.
0:14:35 > 0:14:38The kitchen needs a complete refit and the bathroom needs updating
0:14:38 > 0:14:40and the back bedroom is riddled with damp.
0:14:40 > 0:14:43The house doesn't end here, though.
0:14:43 > 0:14:47Now, this looks rather precarious.
0:14:47 > 0:14:51Now, I can see a wallpapered room up there, which is rather strange.
0:14:51 > 0:14:55You know, it looks as though somebody's tried to extend up there into the loft.
0:14:55 > 0:14:57Now, these steps, they're not regulation.
0:14:57 > 0:15:04However, it does suggest that this place does have the potential to extend, which is fantastic.
0:15:04 > 0:15:07Under regulations that came into effect in October 2008,
0:15:07 > 0:15:10I know that a loft conversion for your house
0:15:10 > 0:15:15is classed as Permitted Development, meaning you don't have to apply for planning permission.
0:15:15 > 0:15:17But there are quite a few conditions and guidelines
0:15:17 > 0:15:21so it really is worth checking it out with your local council first.
0:15:25 > 0:15:27Adding another room or two in the attic
0:15:27 > 0:15:31would really help increase the value and saleability of this place.
0:15:31 > 0:15:37This large hallway could easily accommodate a regulation staircase without losing too much space.
0:15:37 > 0:15:40What really, really wins this place over for me
0:15:40 > 0:15:44is this huge space out here.
0:15:44 > 0:15:46You've got lawns to the front and to the back
0:15:46 > 0:15:48and you are surrounded by fields.
0:15:48 > 0:15:51So, plenty of room to build out here
0:15:51 > 0:15:53without losing too much of this garden space.
0:15:53 > 0:15:57You know, it really is the perfect location for a keen gardener
0:15:57 > 0:16:00and somebody who loves a stroll in the countryside.
0:16:02 > 0:16:04One thing definitely worth mentioning here
0:16:04 > 0:16:07is the possible cause of all that damp.
0:16:07 > 0:16:12The house is in an area designated as being within flood zones 2 and 3.
0:16:12 > 0:16:16This means there's a medium to high chance of flooding from the nearby River Trent,
0:16:16 > 0:16:19which could affect both insurance and mortgage-ability.
0:16:20 > 0:16:25There's also no mains gas, so plenty of reasons here for some thorough pre-auction research.
0:16:25 > 0:16:28Time to find out what a local estate agent thinks of the property
0:16:28 > 0:16:29and its potential.
0:16:32 > 0:16:35There could be an argument to actually take the property down
0:16:35 > 0:16:39and build one larger two-storey home on it, potentially.
0:16:39 > 0:16:42I don't think the planners would be particularly favourable
0:16:42 > 0:16:45in allowing you to put more than one on the site itself.
0:16:45 > 0:16:49If the buyer decided to keep the property as it is
0:16:49 > 0:16:53but do a complete upgrade and sort out all that nasty damp,
0:16:53 > 0:16:55there could be money to be made here.
0:16:55 > 0:16:59I think if you kept the property in its current footprint
0:16:59 > 0:17:04and refurbished it, with new bathroom, new kitchen, rewiring,
0:17:04 > 0:17:09I think you could be looking at somewhere in the region of £180-200,000.
0:17:09 > 0:17:12I would imagine that your rental valuation on a property like this,
0:17:12 > 0:17:15in, obviously, refurbed condition,
0:17:15 > 0:17:20you'd be looking at £650 to maybe £700 per calendar month.
0:17:20 > 0:17:23So, what are the possibilities with this place?
0:17:23 > 0:17:30Well, it's in pretty poor condition, so it's tempting to knock it down and just start again.
0:17:30 > 0:17:34Having said that, it's a great layout with spacious rooms
0:17:34 > 0:17:36and with a bit of an extension,
0:17:36 > 0:17:40I think this place could scrub up and make a lovely family home.
0:17:40 > 0:17:43Let's see who went for this one when it went under the hammer.
0:17:51 > 0:17:56Lot number four is brought to the market with a guide price of £165,000.
0:17:56 > 0:17:59We'll start at 135.
0:17:59 > 0:18:00£135,000.
0:18:00 > 0:18:05140, fresh plates, 140, 145.
0:18:05 > 0:18:08145,500.
0:18:08 > 0:18:11At 147. 147.
0:18:11 > 0:18:14147,500.
0:18:14 > 0:18:17I'll take another 500, sir, if it helps. 500? 148.
0:18:17 > 0:18:20At £148,000.
0:18:20 > 0:18:23149 at the back of the room. Thank you very much.
0:18:23 > 0:18:26149,500.
0:18:26 > 0:18:27At 150.
0:18:27 > 0:18:30150,500.
0:18:30 > 0:18:31151.
0:18:31 > 0:18:33And five.
0:18:33 > 0:18:35151,500.
0:18:35 > 0:18:39At £151,500 seated.
0:18:39 > 0:18:41Once.
0:18:41 > 0:18:44151,500 twice,
0:18:44 > 0:18:49third and the last time of selling at £151,500.
0:18:49 > 0:18:50Sold to the gentleman here.
0:18:50 > 0:18:53I'm going to give him a round of applause.
0:18:53 > 0:18:54AUCTIONEER LAUGHS
0:18:54 > 0:18:57£151,500. Thank you.
0:18:57 > 0:19:03Railway route controller Andy snapped up the bungalow for £151,500.
0:19:03 > 0:19:07£13,500 under the guide price.
0:19:07 > 0:19:10He and his wife Jenny are expecting their first child
0:19:10 > 0:19:13and this is to be their new family home.
0:19:13 > 0:19:15I caught up with him to find out more.
0:19:15 > 0:19:19Andy, congratulations. It's not every day you get a round of applause in an auction room!
0:19:19 > 0:19:23Yeah, caught me out by surprise as well. I bolted after that.
0:19:23 > 0:19:28You paid £151,500 for this property. Were you happy with that price?
0:19:28 > 0:19:29Very happy, yeah.
0:19:29 > 0:19:32I was happy to go up to 150, a little bit over, but not too bad.
0:19:32 > 0:19:36So tell me the reason why you wanted to bid for this property.
0:19:36 > 0:19:39We saw it on the internet, saw how much land it was, and that was it.
0:19:39 > 0:19:42We thought allotment, animals, things like that. It'll be great.
0:19:42 > 0:19:46Great for little kids running around, nice and quiet. Great area.
0:19:46 > 0:19:47So where's your wife today?
0:19:47 > 0:19:49She's having a few pains at the minute.
0:19:49 > 0:19:53I think she might be going into labour, so...
0:19:53 > 0:19:55You're being serious? She's actually in labour today?
0:19:55 > 0:19:57Well, she's had a few pains, a few twinges.
0:19:57 > 0:20:01She's got the machine on, so I think she's ready to go.
0:20:01 > 0:20:06- So do you think, by the end of today, you'll be a dad? - Yep.- Seriously?
0:20:06 > 0:20:10Well, it's ten days overdue, so I think it could be today.
0:20:10 > 0:20:11'Goodness!
0:20:11 > 0:20:14'With a little one on the way, I'm surprised Andy has got time
0:20:14 > 0:20:18'to think about the house, let alone stop for a chat.
0:20:18 > 0:20:20'It's not uncommon to meet people who've bought
0:20:20 > 0:20:23'a property for a baby that's imminent, but I've never been
0:20:23 > 0:20:26'talking to someone whilst his wife is actually going into labour.
0:20:26 > 0:20:29'Let's hope she holds fire for the rest of our chat.'
0:20:29 > 0:20:34So, how much time did you have to research this property before the auction?
0:20:34 > 0:20:36Ooh, about two weeks.
0:20:36 > 0:20:37I spoke to the neighbours about the flooding issues
0:20:37 > 0:20:39and things like that. That was all right.
0:20:39 > 0:20:42We had a word with getting gas sorted, but that was...
0:20:42 > 0:20:44We can't really do that, it's about £20,000 to get it
0:20:44 > 0:20:47connected to gas, so we didn't bother doing that.
0:20:47 > 0:20:49But apart from that, we got a survey done,
0:20:49 > 0:20:53about two days before the auction, and they gave us the go-ahead to go for it.
0:20:53 > 0:20:57Then about a week after we got it, we got the mortgage all sorted.
0:20:57 > 0:20:59So you're quite lucky that it all went in your favour
0:20:59 > 0:21:01and you managed to get a mortgage on this property.
0:21:01 > 0:21:03The mortgage advisor was a bit worried about retention
0:21:03 > 0:21:07on the property, but he came and had a look round and found no problems.
0:21:07 > 0:21:09So, that was all of a bonus, all sorted.
0:21:09 > 0:21:12I am so glad Andy did his research here.
0:21:12 > 0:21:15He discovered that it hasn't flooded for 15 years,
0:21:15 > 0:21:18so he wasn't put off and has got big plans for the bungalow.
0:21:18 > 0:21:22So, let's talk through the renovations you're going to do in here.
0:21:22 > 0:21:24First of all, the damp issue, with the floor.
0:21:24 > 0:21:26Get all the carpets up and then put
0:21:26 > 0:21:29this black bitumen down on there, so that should act as a membrane.
0:21:29 > 0:21:32Sort out the bathroom, new kitchen, sort out the electrics.
0:21:32 > 0:21:35We're going to finish off the conversion upstairs,
0:21:35 > 0:21:37make that into a guest room.
0:21:37 > 0:21:40Hopefully, get the inside sorted out first
0:21:40 > 0:21:44- and then we'll start on the garden after that. - What sort of budget have you got?
0:21:44 > 0:21:46Everyone keeps laughing when I tell them it's £10,000.
0:21:46 > 0:21:48- What?!- Yes.
0:21:48 > 0:21:52But we're going to tidy it up and then we'll look in the future,
0:21:52 > 0:21:55a few years' time, and we'll see about extending out onto the back.
0:21:55 > 0:21:57But you're not going to do that in the short term?
0:21:57 > 0:21:59Not for the first three years, no.
0:21:59 > 0:22:02Get it sorted as it is now, get it liveable, get it nice,
0:22:02 > 0:22:07clean for the baby, and then we'll see how we go then after that, three or four years.
0:22:07 > 0:22:10So, when do you intend to move your wife and baby into this house?
0:22:10 > 0:22:15Well, give it about six months to get it all sorted, so about six months' time.
0:22:15 > 0:22:19Well, with a new baby arriving and a huge renovation on his hands,
0:22:19 > 0:22:23I just have one very important question to ask.
0:22:23 > 0:22:26So, how do you think your wife feels about you having taken this on?
0:22:26 > 0:22:30She thinks we're crazy. But you have to look for the long term,
0:22:30 > 0:22:32long term, once it's done,
0:22:32 > 0:22:35and then we can relax, and it'll all be sorted. It'll be worth it.
0:22:35 > 0:22:39- Surely both must be very excited as well.- Excited and nervous, yes.
0:22:39 > 0:22:41It's just all coming at once.
0:22:41 > 0:22:45Andy, I am so excited for you. But get out of here, you've got a baby to have!
0:22:45 > 0:22:47- I've got to go right now.- Just let me know if it's a girl or a boy.
0:22:47 > 0:22:51- Good luck, mate!- Thank you very much, I've got to go.- Go on, hop it! Out you go!
0:22:51 > 0:22:55- Man coming through! - See you later.- Bye, good luck!
0:22:55 > 0:22:58So, Andy has got a lot on his plate -
0:22:58 > 0:23:01a massive renovation job and a new baby on the way.
0:23:01 > 0:23:03Is he going to get this done in six months
0:23:03 > 0:23:07and is he going to stick to his £10,000 budget?
0:23:07 > 0:23:10Will it be a boy or a girl? I can't wait to find out.
0:23:10 > 0:23:13Join me later in the programme and you can see what happens.
0:23:15 > 0:23:20Coming up, I'm in Kent where this mid-terraced house could cause panic.
0:23:20 > 0:23:22When you talk about moving a staircase,
0:23:22 > 0:23:24there are a lot of people who go, "Argh! It's going to cost a fortune!"
0:23:24 > 0:23:26Back in Nottinghamshire,
0:23:26 > 0:23:28it seems the budget's run off with the family car.
0:23:28 > 0:23:31Sold the wife's car to get a bit more budget -
0:23:31 > 0:23:33she wasn't very pleased about that, but...
0:23:33 > 0:23:34all for the cause.
0:23:36 > 0:23:40But first, has Donna's independent venture been successful?
0:23:40 > 0:23:44Living in a house that you're doing up is very, very hard work.
0:23:48 > 0:23:50Earlier, in St Austell in Cornwall,
0:23:50 > 0:23:54we met Donna, who bought this three-bed semi for £88,000.
0:23:55 > 0:23:59It was to be a new home for her and her two daughters
0:23:59 > 0:24:01and it required a fair bit of work.
0:24:01 > 0:24:03Donna's plan was to remove the conservatory,
0:24:03 > 0:24:08paint the outside, re-render the walls, sort out the damp problem
0:24:08 > 0:24:12and re-plaster, all in a very ambitious timescale.
0:24:12 > 0:24:16- That's the things to do in the next two weeks, before I move in. - Two weeks?!
0:24:16 > 0:24:18Yeah.
0:24:18 > 0:24:21- I'm very pushy.- No kidding!
0:24:22 > 0:24:27Once she'd moved in, the plan was to fit a new kitchen,
0:24:27 > 0:24:29new bathroom and downstairs loo.
0:24:29 > 0:24:34No mean feat considering it was to be her first ever renovation project.
0:24:34 > 0:24:39Well, it's been five months now, and from the outside, the pea-green
0:24:39 > 0:24:44soup exterior has been replaced by a fresher, more appealing white.
0:24:44 > 0:24:47Donna and her youngest daughter, Laura, came to show us
0:24:47 > 0:24:51how work's progressing, and things are looking good.
0:24:51 > 0:24:53At the back, the old conservatory's gone,
0:24:53 > 0:24:56and the garden has been trimmed back, which really opens up the space.
0:25:00 > 0:25:03Inside, there's still some work to do in the living room,
0:25:03 > 0:25:06but Donna is fast turning this house into a home.
0:25:09 > 0:25:13At the back of the property, although it still needs to be decorated,
0:25:13 > 0:25:17Donna's delighted with her new kitchen.
0:25:17 > 0:25:24In the kitchen, we've put new sides...there was brown sides here.
0:25:24 > 0:25:26Just...brand-new kitchen,
0:25:26 > 0:25:30brand-new cooker where the old Rayburn was.
0:25:30 > 0:25:33I absolutely love this part of the room.
0:25:33 > 0:25:37Obviously, we've got some decorating to do and bits and pieces to finish off.
0:25:37 > 0:25:40And then through into the utility room,
0:25:40 > 0:25:43this was the most hideous green.
0:25:43 > 0:25:47We've just basically lined the walls, plastered,
0:25:47 > 0:25:51just some decorating in here, and we found some plumbing,
0:25:51 > 0:25:53which used to be the outside toilet,
0:25:53 > 0:25:56and we've basically made a downstairs toilet now.
0:25:56 > 0:25:58So there's just a small amount of decorating to do,
0:25:58 > 0:26:01but after it's finished, it'll look absolutely fantastic.
0:26:01 > 0:26:04The bathroom is still next to the kitchen,
0:26:04 > 0:26:07but the suite has been completely replaced, so it's looking much better.
0:26:07 > 0:26:11Donna's rolled her sleeves up and is doing the tiling herself,
0:26:11 > 0:26:14so she's really getting stuck into the DIY.
0:26:14 > 0:26:19Keeping the bathroom downstairs has allowed her to keep three bedrooms
0:26:19 > 0:26:25upstairs, which means her two teenage daughters can have separate rooms. Always a good idea.
0:26:25 > 0:26:29There were electrical problems and issues with some of the plumbing,
0:26:29 > 0:26:34and the old mundic chimney has been replaced with a new brick stack.
0:26:34 > 0:26:37This set Donna back, both in time and money.
0:26:37 > 0:26:41And it's certainly not been easy living in the house while it was being renovated.
0:26:41 > 0:26:45It was a big mess, and having to unpack boxes and everything else
0:26:45 > 0:26:51and living in a house that you're doing up is very, very hard work.
0:26:51 > 0:26:54That would be enough to test anyone's resolve,
0:26:54 > 0:26:58although Donna is very positive about her new life and new home.
0:26:58 > 0:27:02But how did she get on sticking to a budget of between five and six grand?
0:27:02 > 0:27:08It was more, sort of, 5,000, 6,000 probably for the labour costs in itself,
0:27:08 > 0:27:12and then you've got all your bathroom suite, your kitchen.
0:27:12 > 0:27:18So, together, I'd say, I've probably spent about 14,000, 15,000 at the moment.
0:27:18 > 0:27:23Add that to the 88 grand that Donna paid for the house,
0:27:23 > 0:27:26and her current total outlay is about £103,000.
0:27:29 > 0:27:31But after going through a divorce, creating a new family home
0:27:31 > 0:27:36for herself and her daughters is where the true value lies.
0:27:37 > 0:27:42This is a huge jump in my life - huge everything, really.
0:27:42 > 0:27:47It's a new start for me and both my children.
0:27:47 > 0:27:51It's been a difficult few years and it's just...
0:27:51 > 0:27:56I feel very, very proud of myself that I've done this on my own.
0:27:56 > 0:27:58So, yeah, it's huge.
0:28:00 > 0:28:03Donna plans to live in the house for some time.
0:28:03 > 0:28:07We asked two local property experts along to tell us whether all her
0:28:07 > 0:28:12hard work might mean a decent return on that £103,000 investment.
0:28:12 > 0:28:16They've made some decent first improvements -
0:28:16 > 0:28:20particularly the addition of a downstairs WC is a huge
0:28:20 > 0:28:23advantage, and from what I've seen of the kitchen, it looks very nice.
0:28:23 > 0:28:28My first impression of the house is that, here's a family house,
0:28:28 > 0:28:29right in the making.
0:28:29 > 0:28:33I like the property, due partly to its scale, it's not petite,
0:28:33 > 0:28:35it's quite a reasonable size.
0:28:35 > 0:28:39Some good bedrooms upstairs. But what I like is the back,
0:28:39 > 0:28:42because that is the money shot. It's just beautiful.
0:28:44 > 0:28:47The positives are, it's quite a large property for the money.
0:28:47 > 0:28:51It's on a very large plot, it does have the nice views.
0:28:51 > 0:28:53The downside is that it is against quite a busy road,
0:28:53 > 0:28:55but that shouldn't deter many buyers.
0:28:55 > 0:28:59Donna has no plans to sell, but if she does decide to move on,
0:28:59 > 0:29:02what sort of resale value could be house fetch?
0:29:02 > 0:29:06Remember her total spend so far is around £103,000.
0:29:08 > 0:29:12When the house is in the best order that it can be,
0:29:12 > 0:29:15I can see it on the market at £145,000.
0:29:15 > 0:29:16Once the works are completed,
0:29:16 > 0:29:20I would recommend an asking price of around £140,000.
0:29:20 > 0:29:22There's a little finishing work to be done here,
0:29:22 > 0:29:28but that valuation could give Donna a possible pre-tax profit of £37,000.
0:29:30 > 0:29:32Oh, my goodness!
0:29:32 > 0:29:34Wow!
0:29:34 > 0:29:37I didn't expect that at all.
0:29:37 > 0:29:38Wow.
0:29:39 > 0:29:41That's all I can say, wow!
0:29:41 > 0:29:44Well, there's still a long way to go,
0:29:44 > 0:29:46but Donna has every right to feel pleased.
0:29:46 > 0:29:49She's created a lovely new home, which not only represents a sound
0:29:49 > 0:29:54financial investment but the start of an exciting new chapter in her life.
0:29:54 > 0:29:56It's...getting my independence back
0:29:56 > 0:30:00and just doing something on your own, yeah...
0:30:00 > 0:30:06I just feel a lot stronger now than I did 12 months ago.
0:30:08 > 0:30:11I'm in Kent. Chatham, to be precise.
0:30:11 > 0:30:15Chatham has suffered an image issue in the past, but as with many
0:30:15 > 0:30:20other Kent Medway towns, regeneration is more than just talk.
0:30:20 > 0:30:24Investment in the area is already making a big difference.
0:30:24 > 0:30:28The dockyards have been transformed, public transport is due for some improvement,
0:30:28 > 0:30:30and housing is springing up all over.
0:30:30 > 0:30:33So it seems that things are looking up in Chatham.
0:30:41 > 0:30:44Well, the property I'm here to see is just outside the town centre,
0:30:44 > 0:30:47about a mile from the railway station,
0:30:47 > 0:30:51on this street of classic Victorian workers' cottages.
0:30:51 > 0:30:55It is a two-bedroom mid-terrace at a guide price of £67,000 to £70,000.
0:30:55 > 0:30:58Looks all right. Like the brickwork. Let's take a look inside.
0:30:58 > 0:31:03The exterior is lovely and appears to be in pretty good nick as well.
0:31:03 > 0:31:05I'm glad that the previous owner resisted the temptation
0:31:05 > 0:31:09to customise the front with render and paint.
0:31:09 > 0:31:12As colourful as it makes the street, I prefer the original brick.
0:31:12 > 0:31:15Will inside have many period features?
0:31:16 > 0:31:20So what have we got? A nice bit of blue corridor.
0:31:20 > 0:31:23That's a tiny reception room, I have to say.
0:31:23 > 0:31:27Nice fireplace, though, and I love the floorboards. Could be kind of cosy.
0:31:27 > 0:31:30Let's keep positive. Upstairs to the bedrooms.
0:31:30 > 0:31:33Through to a rear reception room. This is a bit more like it.
0:31:33 > 0:31:37It's obviously in a bit of a state, and there are indications of damp.
0:31:37 > 0:31:41Then through to the kitchen. Not ideal either, I have to say.
0:31:41 > 0:31:44Clearly in need of a bit of a total rework.
0:31:44 > 0:31:49And I'm thinking, maybe you make that the kitchen and this
0:31:49 > 0:31:52kind of like a utility area or knock through to create a bit more space.
0:31:52 > 0:31:54Good news, though - the bathroom, which you may well have expected
0:31:54 > 0:31:56to be at the rear of the property, isn't, it's upstairs.
0:31:56 > 0:32:00So that's a plus point. All in all, it's kind of cute.
0:32:00 > 0:32:03So, the bathroom isn't off the kitchen
0:32:03 > 0:32:06as is the norm in a traditional mid-terrace like this.
0:32:06 > 0:32:08But there is a downstairs loo.
0:32:08 > 0:32:12If you ripped that out, you'd have more space to play with down here.
0:32:12 > 0:32:15The garden is, as you may have come
0:32:15 > 0:32:18to expect from the gardens at auction properties, a messy jungle.
0:32:24 > 0:32:27Oh, well, onwards and upwards.
0:32:27 > 0:32:29So, a bedroom over that side with an open fire.
0:32:29 > 0:32:33And, joy of joys, same thing over here. We love that.
0:32:33 > 0:32:35Love these fire inserts. Great stuff.
0:32:35 > 0:32:38Lots of light coming in through the windows, so it's all looking good.
0:32:38 > 0:32:40Now, I mentioned the fact that there was a bathroom upstairs.
0:32:40 > 0:32:42Well, that's the good news. Here it is.
0:32:42 > 0:32:44The bad news is, how do you get to it?
0:32:44 > 0:32:47Because you've got the door here to the bedroom
0:32:47 > 0:32:49and the door here to the bathroom.
0:32:49 > 0:32:53You'd have to walk through the bedroom to get to it. Not ideal.
0:32:53 > 0:32:57At all. I need to think about this.
0:32:57 > 0:33:00The fact that those two bedroom doors are diagonally opposite each other
0:33:00 > 0:33:03means you can't do the usual solution of creating
0:33:03 > 0:33:07a separate corridor straight across from the stairs to the bathroom.
0:33:07 > 0:33:12Hmm. Complicated. So, how could this be solved? Let's go downstairs.
0:33:12 > 0:33:16So what's the solution? Well, I've come downstairs again to try a and figure that out.
0:33:16 > 0:33:20And I think the solution is all about the staircase.
0:33:20 > 0:33:22Now, when you talk about moving staircases,
0:33:22 > 0:33:24a lot of people go, "Argh! It's going to cost a fortune!
0:33:24 > 0:33:25"All the mess, whatever."
0:33:25 > 0:33:29But do it now, and I think it could definitely be worth doing. Here's the idea.
0:33:29 > 0:33:31Instead of having the staircase going that way,
0:33:31 > 0:33:34you could theoretically just have the staircase going that way,
0:33:34 > 0:33:36which would partially solve the problem.
0:33:36 > 0:33:39But I say if you're doing that, going to all the trouble
0:33:39 > 0:33:42of taking the stairs out, why not go the whole hog?
0:33:42 > 0:33:45Actually put the stairs here, and then you've created this massive
0:33:45 > 0:33:48great open-plan area downstairs, which is lovely,
0:33:48 > 0:33:50and solved your problems upstairs.
0:33:50 > 0:33:54It's not going to be cheap, but, I think, definitely worth doing.
0:33:54 > 0:33:57It would make this into more of a family home,
0:33:57 > 0:34:01giving extra space and just creating more of a modern feel.
0:34:01 > 0:34:06Still, it comes down to cost and would mean you'd have to fork out quite a hefty sum.
0:34:06 > 0:34:10So, you'd really need to do your research on the local housing market
0:34:10 > 0:34:14to see if it justified the expense. I'm heading outside to check the ups
0:34:14 > 0:34:17and downs of the property's surroundings.
0:34:17 > 0:34:23Well, the area has lots of amenities. There's a school, down the hill. The shops, down the hill.
0:34:23 > 0:34:28And the train station, you guessed it, down the hill.
0:34:28 > 0:34:31Now, if you're a mum with a pram, I'm not sure you'd want
0:34:31 > 0:34:34to actually have to climb up these kinds of hills every day.
0:34:34 > 0:34:36They'd tax an Olympic athlete.
0:34:36 > 0:34:39Maybe struggling up here with your bags of shopping?
0:34:39 > 0:34:40Well, it just ain't going to work, is it?
0:34:40 > 0:34:42So, does that really matter?
0:34:42 > 0:34:46Well, actually, in today's market, I think maybe it does.
0:34:46 > 0:34:47Because times are tough -
0:34:47 > 0:34:50the last thing you need is another mountain to climb.
0:35:00 > 0:35:04It may be a small thing - well, actually it's quite big -
0:35:04 > 0:35:07but this hill makes your property a tiny bit less than perfect.
0:35:07 > 0:35:10Buyers today are pickier than they've ever been
0:35:10 > 0:35:13and more than usually worried about parting
0:35:13 > 0:35:15with their cash for fear of making the wrong investment.
0:35:15 > 0:35:20The auction guide price for this house was £65,000 to £70,000.
0:35:20 > 0:35:23I asked a local estate agent for her thoughts.
0:35:25 > 0:35:27The property itself is quite a solid little house.
0:35:27 > 0:35:30And it looks as though it needs a bit of looking after.
0:35:30 > 0:35:33It seems to have the benefit of central heating,
0:35:33 > 0:35:36although that hasn't been tested but it's there.
0:35:36 > 0:35:39And also, it looks as though the roof has been done at some time.
0:35:39 > 0:35:42So, basically, it's quite a good little property.
0:35:42 > 0:35:44The rental market is strong around here,
0:35:44 > 0:35:47so this could earn a healthy return.
0:35:47 > 0:35:51The sort of figure that we'd be looking at would be £575
0:35:51 > 0:35:52per calendar month.
0:35:52 > 0:35:54Maybe, depending on the work that has been done,
0:35:54 > 0:35:58pushing it to £595 per calendar month.
0:35:58 > 0:36:01So, with a guide price of 65,000 to 70,000,
0:36:01 > 0:36:04what sort of retail figure could this fetch?
0:36:04 > 0:36:12The sort of price we would be looking to achieve would probably be round about the sort of £110,000.
0:36:12 > 0:36:15If they put the staircase in and turned it, then I think the price
0:36:15 > 0:36:20would be in the region of 115, maybe pushing towards 120,
0:36:20 > 0:36:23but I think, that may be more difficult
0:36:23 > 0:36:25to achieve at the moment in this market.
0:36:25 > 0:36:27Well, these properties have stood the test of time
0:36:27 > 0:36:31and they make great starter homes or rental properties.
0:36:31 > 0:36:33And this one does seem to have a good guide price.
0:36:33 > 0:36:38However, I would urge whoever bought it to keep a check on the old budget for renovation.
0:36:38 > 0:36:41Otherwise, they could see their profits tumbling down that hill.
0:36:41 > 0:36:44Let's see who bought it when it went under the hammer.
0:36:46 > 0:36:50Mid-terrace house, two bedrooms, first-floor bathroom.
0:36:50 > 0:36:5565 to start me. 65,000, 65 I have. 67 I have and 70.
0:36:55 > 0:36:5770 I am bid. 72 for you.
0:36:57 > 0:37:0174. 76 I have. And 78.
0:37:01 > 0:37:0378. And 80? No.
0:37:03 > 0:37:0778 at the back of the room. At 78. And 80 I have in a fresh place.
0:37:07 > 0:37:11And 82? No. At £80,000. 82 do I see?
0:37:11 > 0:37:1382 is bid and 83.
0:37:15 > 0:37:1783 in a fresh place and 84.
0:37:17 > 0:37:2184 is bid and 85. 85 is bid and 86.
0:37:22 > 0:37:2786 and 87? No. £86,000. You've stayed with it a long time.
0:37:27 > 0:37:31At £86,000 I'm bid. 87 for anyone else?
0:37:31 > 0:37:33Being sold then for the first time at 86,000,
0:37:33 > 0:37:35sitting on the right-hand column.
0:37:35 > 0:37:4086 for the second time. 86 for the third and final time.
0:37:40 > 0:37:44At 86,000 then, are you all done? Sold at 86,000.
0:37:44 > 0:37:49The successful bidder was Jackie, who sealed the deal at £86,000.
0:37:49 > 0:37:53She's a part-time driver who has recently turned her hand
0:37:53 > 0:37:56to property developing, along with her husband and brother.
0:37:56 > 0:37:59I met up with her to find out their plans.
0:37:59 > 0:38:03- Jackie, lovely to meet you.- Hello. - Congratulations.- Thank you.
0:38:03 > 0:38:05Tell me why you wanted to buy this place.
0:38:05 > 0:38:09We're looking in the area for properties to rent
0:38:09 > 0:38:13or possibly sell on, obviously depending on the market.
0:38:13 > 0:38:17- And I just really liked the area. - When you say we. Who's we?
0:38:17 > 0:38:18My husband and family.
0:38:18 > 0:38:22We've got a large family, and everybody wants to get involved.
0:38:22 > 0:38:27- How big is your family?- Well, I've got six children.- Oh, wow!- Yes.
0:38:27 > 0:38:31And two grandchildren. So they all want to get involved.
0:38:31 > 0:38:33So, have you done anything like this before?
0:38:33 > 0:38:36No, we've been thinking about it for a couple of years
0:38:36 > 0:38:39and we've just purchased another property, actually,
0:38:39 > 0:38:42so we're going to have two on the go.
0:38:42 > 0:38:45So, what tempted you into doing it at this point?
0:38:45 > 0:38:49My husband is a self-employed plumber, and obviously last year was a bit slow.
0:38:49 > 0:38:53So he really needed to branch out and find other avenues, really.
0:38:53 > 0:38:58- So what about you? What's your background?- I'm a van driver.
0:38:58 > 0:39:01I deliver motor parts.
0:39:01 > 0:39:05- It means you get to drive around the area and you get to see...- Yes I do. I have driven round
0:39:05 > 0:39:08and seen... I had my eye on a couple of properties.
0:39:13 > 0:39:16Driving around for work means she's been able to learn about
0:39:16 > 0:39:21the locality, and she knows this area in particular is ideal for rentals.
0:39:21 > 0:39:25But there's a lot of work to do before anyone is going to pay to live here.
0:39:27 > 0:39:30So, tell me what you're going to do with this place to sort it out.
0:39:30 > 0:39:34The plan we'd like to do, is because the bathroom is upstairs
0:39:34 > 0:39:38and it's off a second bedroom,
0:39:38 > 0:39:41I think we'd like to turn the staircase round,
0:39:41 > 0:39:42so it gives it a landing.
0:39:42 > 0:39:45Have you looked into the costings of moving a staircase?
0:39:45 > 0:39:48I think between 15 and 20,000, we were thinking for budget.
0:39:48 > 0:39:52So, we're hoping, if it definitely keeps within that, then we should do it.
0:39:52 > 0:39:56So, if you can do the whole place up and move the staircase within that...
0:39:56 > 0:40:00Yes, obviously new bathroom, new kitchen, new windows.
0:40:00 > 0:40:02Literally refurb completely.
0:40:02 > 0:40:06Take all the wallpaper off and see what's behind it, really.
0:40:06 > 0:40:10£15,000 to £20,000 sounds like a fairly decent budget,
0:40:10 > 0:40:13but Jackie is right to be cautious.
0:40:13 > 0:40:16You never know what lurks behind thick old wallpaper.
0:40:16 > 0:40:20However, Jackie's husband can turn his hand to most DIY jobs
0:40:20 > 0:40:23as well as plastering, which could prove very handy.
0:40:23 > 0:40:26What about the rest?
0:40:26 > 0:40:29Getting a builder in to do like the staircase
0:40:29 > 0:40:33and anything structural that needs doing.
0:40:33 > 0:40:37And then, hopefully, the family will come in and do the rest.
0:40:37 > 0:40:41- So what's the timescale? - Six weeks to two months.- Oh, OK.
0:40:41 > 0:40:44- So not too long, then?- No. - Well, listen, congratulations.
0:40:44 > 0:40:45- Good luck with it all. - Thank you very much.
0:40:45 > 0:40:49- We'll look forward to seeing how you get on.- OK, lovely. Thank you.
0:40:49 > 0:40:51Well, Jackie has certainly spotted a good one here.
0:40:51 > 0:40:54But even though it's only a small house,
0:40:54 > 0:40:57moving those stairs could escalate the cost.
0:40:57 > 0:41:03What she needs to do is get those six kids involved.=, working for their mum and dad.
0:41:03 > 0:41:05You can find out how she gets on later in the show.
0:41:08 > 0:41:12It's been a while now since we last visited those properties.
0:41:12 > 0:41:17- Yes, there should have been work done, but you never know. - All sorts of problems can arise.
0:41:17 > 0:41:19Let's find out what they've had to cope with.
0:41:22 > 0:41:29We're back in Kelham near Nottingham, where this three-bedroom bungalow sold for £151,500.
0:41:29 > 0:41:34Andy, a railway route controller, had bought it to create the perfect
0:41:34 > 0:41:38home for himself and his wife, Jenny, who was expecting their first baby.
0:41:38 > 0:41:40Well, we saw it, saw it on the internet,
0:41:40 > 0:41:43we saw how much land it was, and that was it, we thought...
0:41:43 > 0:41:45allotment, animals, things like that, It'll be great.
0:41:45 > 0:41:49Great for little kids running around. Nice and quiet. Great area.
0:41:49 > 0:41:51So tell me, where is your wife today?
0:41:51 > 0:41:54She's having a few pains at the minute.
0:41:54 > 0:41:58- I think she might be going into labour.- You're being serious?
0:41:58 > 0:41:59She's actually in labour today?
0:41:59 > 0:42:03Well she's had a few pains, a few twinges, she's got the machine on.
0:42:03 > 0:42:04So, I think, she's ready to go.
0:42:04 > 0:42:09'Thankfully, Andy made it back in time to see his baby's arrival.
0:42:09 > 0:42:12'But was it a bouncing boy or a gorgeous girl?
0:42:12 > 0:42:14'Seven months later, we're back, and this time
0:42:14 > 0:42:19'Andy is joined by his wife, Jenny, and their beautiful son, Sam.'
0:42:22 > 0:42:26It all went well - a couple of days later, we had little baby Sam.
0:42:26 > 0:42:31All went well. He's now a little bouncing baby, seven months old. So, it's all going well.
0:42:31 > 0:42:36Sam's obviously been thriving on lots of love and attention,
0:42:36 > 0:42:37but how has the renovation of the house fared?
0:42:41 > 0:42:45Well, from the outside, it's so far so good. Let's head inside.
0:42:52 > 0:42:56It's been really hard work. But Andy and a small number of tradesmen have transformed
0:42:56 > 0:43:02this tired, damp bungalow into a warm, dry and cosy family home.
0:43:02 > 0:43:06The electrics have been replaced around the property, and there's a new damp-proof course
0:43:06 > 0:43:10to ensure no more wallpaper removes itself from the walls.
0:43:11 > 0:43:13The bedroom at the rear was dated and dreary -
0:43:13 > 0:43:16it's now been replastered and redecorated
0:43:16 > 0:43:20and is now a bright and happy nursery for baby Sam.
0:43:20 > 0:43:24The master bedroom has had a total makeover and been decorated
0:43:24 > 0:43:27and carpeted in calming, neutral tones.
0:43:27 > 0:43:31Light streams in through the large double-aspect windows.
0:43:31 > 0:43:35The bathroom was very last century but has been dragged
0:43:35 > 0:43:40into the new millennium with a modern, white suite and new flooring.
0:43:40 > 0:43:43The most dramatic change, however,
0:43:43 > 0:43:46has been to the adjoining third bedroom and kitchen.
0:43:47 > 0:43:50They've knocked down the wall and combined the two separate spaces
0:43:50 > 0:43:55to create this fantastic open-plan kitchen diner.
0:43:56 > 0:43:59As you can see, in the kitchen, we've knocked out the larder room,
0:43:59 > 0:44:02we've put in a nice, new, oak kitchen, Belfast sink.
0:44:02 > 0:44:06And we've also put in this nice, new Rayburn for the central heating,
0:44:06 > 0:44:09to heat the radiators and also do the cooking,
0:44:09 > 0:44:11which is excellent at the minute.
0:44:11 > 0:44:14We've also knocked out this wall here,
0:44:14 > 0:44:17so we can have a nice easy through kitchen-diner, which makes it
0:44:17 > 0:44:22a lot easier, more friendly for the family and things like that.
0:44:22 > 0:44:24So, all in all, we're pretty pleased with it.
0:44:24 > 0:44:26No wonder he's pleased. It looks great!
0:44:26 > 0:44:31But doesn't creating a new open-plan kitchen-diner mean they've lost a bedroom?
0:44:31 > 0:44:35Well, patience, patience, there's more to this story.
0:44:35 > 0:44:38Remember that rickety old metal ladder leading up to the attic?
0:44:38 > 0:44:40Voila!
0:44:40 > 0:44:44Let me present to you one gorgeous new wooden staircase -
0:44:44 > 0:44:48it goes up to what were two dusty old rooms
0:44:48 > 0:44:51but is now a fabulously converted and spacious third bedroom.
0:44:51 > 0:44:55As you can see, the loft space changed quite a bit since we were last here.
0:44:55 > 0:44:57There was a partition wall here which we've taken out
0:44:57 > 0:45:02and put some nice props in to support all the purlins
0:45:02 > 0:45:04and the extra weight of what the plaster is going to be.
0:45:04 > 0:45:07We've got some eaves space there for the storage
0:45:07 > 0:45:09and obviously we've changed the window,
0:45:09 > 0:45:12cos the old window was practically falling out,
0:45:12 > 0:45:15so now you can see the views. It's all quite nice.
0:45:15 > 0:45:20When Andy and Jenny bought this house, there was one obvious disadvantage -
0:45:20 > 0:45:22no gas supply.
0:45:22 > 0:45:26Is this something they can work around or will they invest for the future?
0:45:26 > 0:45:29We did make inquiries to the National Grid about putting
0:45:29 > 0:45:32the gas mains in, but that's about £20,000, they quoted.
0:45:32 > 0:45:36So, unless we can get all the neighbours in to make it viable,
0:45:36 > 0:45:39that's something we can maybe think about in the future.
0:45:39 > 0:45:43But as yet, we've got no gas. So it's all electric, and the Rayburn is going
0:45:43 > 0:45:45to do all the central heating, so we're all right for the time being.
0:45:45 > 0:45:48Andy thought six months would be enough to get the work done
0:45:48 > 0:45:52and by the look of the house, he estimated pretty accurately.
0:45:52 > 0:45:56We've basically ripped it back to the bare minimum, rebuilt it,
0:45:56 > 0:45:59and it's taken approximately six months to do that.
0:45:59 > 0:46:03However, his £10,000 budget wasn't quite so on the money.
0:46:08 > 0:46:10Yes, the budget was optimistic at best.
0:46:12 > 0:46:15But as we went on, we thought, we'll do the job properly.
0:46:15 > 0:46:17So that's why it cost more.
0:46:17 > 0:46:20So we sold the wife's car to get a bit more budget.
0:46:20 > 0:46:24She wasn't very pleased about that, but...all for the cause.
0:46:24 > 0:46:26We've borrowed a bit of money off friends and family,
0:46:26 > 0:46:28so eventually we've got it to a standard we like.
0:46:28 > 0:46:31There's still a little bit more to do, but we can do that over time.
0:46:31 > 0:46:35So, come on, Andy, what is the final figure?
0:46:35 > 0:46:4120 plus. Ish. 25. Ish.
0:46:41 > 0:46:43Maybe 28. About that, yeah.
0:46:46 > 0:46:50Andy has confessed to a pretty big overspend there - adding that 28,000
0:46:50 > 0:46:55to the purchase price means an investment just short of 180 grand.
0:46:55 > 0:46:57Plus fees and expenses of course.
0:46:57 > 0:47:00So was it worth selling Jenny's car in the process?
0:47:00 > 0:47:02It looks like money well spent here,
0:47:02 > 0:47:06but let's see what two local estate agents think.
0:47:06 > 0:47:08I think what I particularly like about the property
0:47:08 > 0:47:10is what they've done in the kitchen.
0:47:10 > 0:47:15They've opened it up, so they've now got a proper kitchen-dining room.
0:47:15 > 0:47:19And the natural staircase up to the loft area was a real success,
0:47:19 > 0:47:20I think.
0:47:20 > 0:47:23My first impressions of the property are the situation here,
0:47:23 > 0:47:25the views from the front of the house,
0:47:25 > 0:47:29really light and airy rooms, big windows and the garden.
0:47:29 > 0:47:34With such a large garden around this property, there's the temptation to extend.
0:47:34 > 0:47:36Would this be worthwhile for the couple?
0:47:36 > 0:47:40I think, as regards extending the property any further,
0:47:40 > 0:47:44it's a sort of price point issue.
0:47:44 > 0:47:49I think it's probably reaching its peak where it sits at the moment.
0:47:49 > 0:47:53I think the accommodation is pretty well optimised at the moment
0:47:53 > 0:47:56and I don't think I would recommend an extension.
0:47:56 > 0:47:59The plot would take it, but looking at the present market,
0:47:59 > 0:48:03I would say it fits into a price range which is well saleable
0:48:03 > 0:48:05as it stands at the moment.
0:48:05 > 0:48:08The estate agents reckon it could earn £600 to £675
0:48:08 > 0:48:12a month on the rental market.
0:48:12 > 0:48:16But of course, this is Andy, Jenny and little baby Sam's new family home.
0:48:16 > 0:48:19So, have those changes added value,
0:48:19 > 0:48:23bearing in mind their total spend of around 180 grand?
0:48:23 > 0:48:25If you were going to be putting the property on the market
0:48:25 > 0:48:31in the near future, I'd expect to be guiding the property at around £250,000.
0:48:31 > 0:48:33I'd expect the property to achieve
0:48:33 > 0:48:40a price of 245,000 to 250,000 in current market conditions.
0:48:40 > 0:48:47- Ker-ching, yes. Let's get selling!- No.- OK.
0:48:47 > 0:48:52That's fine. We thought it might be in the region of about 220 to 250, so 250 is quite good.
0:48:52 > 0:48:54Love it.
0:48:54 > 0:48:59I suppose the big question is, was it all worth it?
0:48:59 > 0:49:03- Yes, but never again. - Yeah. I don't recommend it.
0:49:03 > 0:49:05Having a baby and moving at the same time.
0:49:10 > 0:49:16Now we're back in Chatham, Kent, where this two-bed mid-terrace house sold at auction for 86,000.
0:49:16 > 0:49:20Jackie had bought the property with her husband, Keith.
0:49:20 > 0:49:25They were hoping it would prove to be a successful new business venture for their family.
0:49:26 > 0:49:28We've been thinking about it for a couple of years
0:49:28 > 0:49:32and we've just purchased another property, actually,
0:49:32 > 0:49:35so we're going to have two on the go.
0:49:35 > 0:49:38So what tempted you into doing it at this point?
0:49:38 > 0:49:42My husband is a self-employed plumber, and obviously last year was a bit slow,
0:49:42 > 0:49:47so he really needed to branch out and find other avenues, really. And obviously,
0:49:47 > 0:49:52he's been talking about doing this for such a long time. We thought, right, now's the time.
0:49:52 > 0:49:55So, has their new business taken off?
0:49:55 > 0:49:57We've caught up with Jackie six months later,
0:49:57 > 0:50:02and although there is still work to do, things have certainly progressed in the right direction.
0:50:02 > 0:50:06# I want a brand-new house With an old brown jug
0:50:06 > 0:50:10# And an old spinning-wheel... #
0:50:11 > 0:50:15The most dramatic change has been shifting the troublesome staircase
0:50:15 > 0:50:18against the wall on the right-hand side
0:50:18 > 0:50:20and opening up the two reception rooms.
0:50:21 > 0:50:24Now they have a spacious open-plan living area
0:50:24 > 0:50:27with light streaming in from front and back windows.
0:50:27 > 0:50:31When we decided to take the wall out,
0:50:31 > 0:50:36we had the inspector come round and obviously we had to do the footings.
0:50:37 > 0:50:40But it wasn't too bad - we had a builder come in
0:50:40 > 0:50:46and actually did the through lounge for us. So that wasn't too bad.
0:50:46 > 0:50:49But it has opened the downstairs up quite a lot.
0:50:49 > 0:50:54But it seems opening up the space also opened a can of worms.
0:50:55 > 0:50:58We found woodworm in the floor when we took the staircase out.
0:50:58 > 0:51:03We had to change all the joists. The floorboards weren't too bad,
0:51:03 > 0:51:06but it was near enough all the way through.
0:51:06 > 0:51:12So, it's not so springy now and obviously a lot quieter.
0:51:12 > 0:51:16So, no more creaky floorboards if you want to creep in late at night.
0:51:16 > 0:51:18Great stuff!
0:51:18 > 0:51:21The new living area leads into the kitchen at the back -
0:51:21 > 0:51:26once old, tired and yellow, it's now a fresh and modern galley style.
0:51:26 > 0:51:29And where the old downstairs loo used to be, beyond the kitchen,
0:51:29 > 0:51:33there's now a brand-new bathroom awaiting the finishing touches.
0:51:33 > 0:51:37I can't help but wonder, if the bathroom is now downstairs,
0:51:37 > 0:51:39what's upstairs?
0:51:39 > 0:51:42Well, moving the stares across has given them
0:51:42 > 0:51:46much more flexibility on the upper floor, as Jackie explains.
0:51:46 > 0:51:49When we came, there were two bedrooms
0:51:49 > 0:51:53and a third bedroom, which they were using as a bathroom upstairs.
0:51:53 > 0:51:58Because you had to come through the second bedroom to get to the third one,
0:51:58 > 0:52:01we decided, if we took the staircase out downstairs
0:52:01 > 0:52:04and re-angled it to the side,
0:52:04 > 0:52:08we can get a third bedroom plus a toilet up here as well.
0:52:08 > 0:52:11We're very delighted, because it's opened it up completely.
0:52:11 > 0:52:13It certainly has.
0:52:13 > 0:52:17By moving that staircase, they've managed not only to gain a third bedroom
0:52:17 > 0:52:21but also to keep a loo upstairs, next door to the boxroom.
0:52:22 > 0:52:25Period features like the old fireplaces may have gone,
0:52:25 > 0:52:29but Jackie wanted a modern feel to the whole house.
0:52:29 > 0:52:32It's been completely rewired and replumbed, with a new boiler
0:52:32 > 0:52:34and central heating.
0:52:34 > 0:52:36And remember that garden?
0:52:36 > 0:52:40It looked like a cross between a jungle and a fly-tipper's paradise.
0:52:40 > 0:52:45It's now a low-maintenance outdoor space, laid with paving slabs and gravel.
0:52:51 > 0:52:54Jackie and her husband plan to add a raised decking
0:52:54 > 0:52:58area at the back, which will certainly help cheer it up a bit.
0:52:58 > 0:53:02After a visit from the building inspector, the rear extension
0:53:02 > 0:53:03has been completely rebuilt
0:53:03 > 0:53:08and dramatically improves the overall look of the property.
0:53:08 > 0:53:12We've had to have a new extension done because they condemned it.
0:53:12 > 0:53:18So, the best thing was to completely knocked it down, rebuild, which will house the bathroom.
0:53:18 > 0:53:23Obviously, that added to the initial cost that we were hoping for.
0:53:23 > 0:53:27We've had all new windows, the rendering, new drainage,
0:53:27 > 0:53:32and we're really pleased with how it's turned out at the moment.
0:53:32 > 0:53:36Initially, Jackie estimated six to eight weeks for the work to be complete.
0:53:36 > 0:53:39So, six months on, what happened?
0:53:39 > 0:53:42We've gone over the timescale,
0:53:42 > 0:53:47basically because we'd bought another house at the same time, which we had already
0:53:47 > 0:53:52started and we needed to finish that, complete that first.
0:53:52 > 0:53:55And obviously, because of the extension,
0:53:55 > 0:54:00we needed to get permission and get all the building regs sorted...
0:54:00 > 0:54:04which obviously added to the amount of time it took.
0:54:04 > 0:54:07Obviously, the couple have come across unforeseen
0:54:07 > 0:54:11situations during the renovation, which will surely have had
0:54:11 > 0:54:15a knock-on effect on their original budget of 15,000 to 20,000.
0:54:15 > 0:54:20Up to this point, we've spent probably about 23,000
0:54:20 > 0:54:26with probably about another 2,000 - or 1,500 to 2,000 - left to complete the project.
0:54:26 > 0:54:29The property cost £86,000 at auction,
0:54:29 > 0:54:33and there's an estimated 25,000 to be spent on the renovation,
0:54:33 > 0:54:36making a total of £111,000.
0:54:36 > 0:54:40So, has the work done here added any value?
0:54:40 > 0:54:43We asked two local estate agents for their thoughts.
0:54:43 > 0:54:47Having moved the stairs round has made it so much better
0:54:47 > 0:54:50and it's made the bedrooms upstairs into three separate bedrooms
0:54:50 > 0:54:52and just given it a lovely through lounge.
0:54:52 > 0:54:53I think the layout is good.
0:54:53 > 0:54:56Having a through lounge, it's definitely a fair trend nowadays.
0:54:56 > 0:54:58The kitchen's done well.
0:54:58 > 0:55:01A little bit concerned about the bathroom being straight off the kitchen.
0:55:01 > 0:55:04Some buyers don't like that. They like to have a bit of a separation
0:55:04 > 0:55:06between kitchens and bathrooms.
0:55:06 > 0:55:11Jackie and her husband, Keith, have decided to rent the property out for the time being.
0:55:11 > 0:55:14How much could expect to get per month?
0:55:14 > 0:55:18Once the property is completed, because it's at such a nice standard,
0:55:18 > 0:55:24I think they'll be looking at somewhere around £625 to £650
0:55:24 > 0:55:25per calendar month.
0:55:25 > 0:55:28We'd suggest to put this on the market for a rental income
0:55:28 > 0:55:32within the region of £625 per calendar month.
0:55:32 > 0:55:35That's a healthy yield of around 7%,
0:55:35 > 0:55:38so letting does seem a sensible option here.
0:55:38 > 0:55:40What would it make on the resale market, though,
0:55:40 > 0:55:44bearing in mind their total outlay of 111 grand.
0:55:44 > 0:55:50This property would resell in the region of £95,000 to £100,000.
0:55:50 > 0:55:53I think in the current market, because of the amount of work
0:55:53 > 0:55:57they've done, and it is so good, once they've finished it,
0:55:57 > 0:56:03we're going to be looking somewhere between £115,000 to £120,000.
0:56:03 > 0:56:08So, with one valuation suggesting a minimum loss of £11,000
0:56:08 > 0:56:11and the other estimating a maximum profit of only £9,000,
0:56:11 > 0:56:14what does Jackie make of it all?
0:56:14 > 0:56:17I think definitely the first one was very underpriced.
0:56:17 > 0:56:20I can understand if he was buying the house as we bought it
0:56:20 > 0:56:25for 100,000...yes, I can say it was probably worth that.
0:56:25 > 0:56:29But obviously, with all the work we've put into it, no way.
0:56:29 > 0:56:31The second price is what I think we were expecting.
0:56:31 > 0:56:36Jackie and Keith have done an impressive job on this property.
0:56:36 > 0:56:37Would they do it again?
0:56:37 > 0:56:41We're going to start another project. We shall go to more auctions
0:56:41 > 0:56:47and when the right property comes up, we'll carry on from there.
0:56:50 > 0:56:53Well, we'll have plenty more property owners who have experienced
0:56:53 > 0:56:57the highs - and lows - of buying at auction for you next time.
0:56:57 > 0:57:00So, join us then for some more auction action on Homes Under The Hammer.
0:57:00 > 0:57:02- We'll see you then.- Goodbye.- Goodbye.
0:57:10 > 0:57:13Subtitles by Red Bee Media Ltd
0:57:13 > 0:57:17E-mail subtitling@bbc.co.uk