0:00:02 > 0:00:05- Hello and welcome.- Buying at auction is a fascinating experience.
0:00:05 > 0:00:08You'll find a wide range of buyers and properties
0:00:08 > 0:00:11and it's a great way to gauge the market.
0:00:11 > 0:00:15Absolutely. Everything's on offer when you buy your home under the hammer.
0:00:41 > 0:00:45You don't have to be a property expert to buy in the auction.
0:00:45 > 0:00:49If you put up your hand to make a bid, you could be successful.
0:00:49 > 0:00:52Let's see what excited the buyers on today's show.
0:00:54 > 0:00:58The poor condition of this Kent bungalow means just one thing.
0:00:58 > 0:01:02It's time to start putting on our rose-tinted spectacles, our developer glasses.
0:01:03 > 0:01:08I'm in for a big surprise at a basement flat in Lancashire.
0:01:08 > 0:01:13This is not what I'm used to seeing! Look, even the lampshades are nice!
0:01:13 > 0:01:16And in Wiltshire, as far as I'm concerned,
0:01:16 > 0:01:20this former station master's house is right on track for development.
0:01:20 > 0:01:23Absolutely marvellous. All in all, I'm loving this place.
0:01:24 > 0:01:28- 120 is bid.- All these properties have been sold at auction.
0:01:28 > 0:01:33We'll find out who bought them and what they paid for them when they went under the hammer.
0:01:39 > 0:01:42I've come to the Kent coast to Littlestone-on-Sea.
0:01:42 > 0:01:46It's a small and desirable village close to New Romney,
0:01:46 > 0:01:52where the locals are, not surprisingly, making the most of this beautiful sunshine.
0:01:52 > 0:01:54Just half a mile from the seafront,
0:01:54 > 0:01:58in this lovely residential area, is the property I'm here to see.
0:01:58 > 0:02:02It bodes well. Nicely-tended gardens,
0:02:02 > 0:02:05the properties look to be in reasonable condition.
0:02:05 > 0:02:10The guide price for the one I'm here to see was £120 to £125,000,
0:02:10 > 0:02:15which, for a two-bedroomed dormer bungalow, seems quite cheap.
0:02:17 > 0:02:20Huh. Well, I can see why.
0:02:20 > 0:02:23They always say you should buy the worst house on the best street.
0:02:23 > 0:02:28This is a classic case of that. Let's hope it's better inside.
0:02:28 > 0:02:32With a guide price of £120 to £125,000,
0:02:32 > 0:02:35you might think you're getting a bargain.
0:02:35 > 0:02:39But when something sounds too good to be true, it usually is.
0:02:39 > 0:02:43# It's about to get worse
0:02:43 > 0:02:46# It's about to get worse
0:02:46 > 0:02:49# Before it gets better
0:02:50 > 0:02:52# It's got to get better #
0:02:52 > 0:02:56I really have very low expectations.
0:02:56 > 0:03:00A-ha! Crikey. Look at that ceiling.
0:03:00 > 0:03:04Well, not normally an optional extra when you buy a house,
0:03:04 > 0:03:06but in this one it is,
0:03:06 > 0:03:09and it doesn't look like it's very tidy. Yuk.
0:03:09 > 0:03:13OK, well, not that sparkling an introduction to the place.
0:03:13 > 0:03:17In fact, given the state of that, I'm not even going to go upstairs.
0:03:17 > 0:03:21Let's just make do with exploring the, erm,
0:03:21 > 0:03:23downstairs.
0:03:24 > 0:03:27# I hope it gets better #
0:03:28 > 0:03:33So a living room at the front and a second reception at the rear.
0:03:33 > 0:03:36Good to see there's a fireplace there.
0:03:36 > 0:03:38The current condition's sadly the same,
0:03:38 > 0:03:41but as for the room sizes and overall potential,
0:03:41 > 0:03:44I'd say it's looking pretty hopeful.
0:03:46 > 0:03:51Well, through to the kitchen and it doesn't get much better, as you might expect!
0:03:51 > 0:03:57So it's time to start putting on our rose-tinted spectacles, our developer glasses,
0:03:57 > 0:04:00and saying, at the moment, it's in a right old state.
0:04:00 > 0:04:04That will probably put a lot of people off.
0:04:04 > 0:04:07If we can see through what it is to what it might become,
0:04:07 > 0:04:13that turns us from being an average person to a proper property person!
0:04:13 > 0:04:18With my renewed enthusiasm, I think potential is the magic word.
0:04:18 > 0:04:24The dormer extension upstairs isn't spacious enough and the bathroom is pretty tiny.
0:04:24 > 0:04:28But rip it all out, get a structural engineer to check that the place is sound,
0:04:28 > 0:04:33and you could create a light and pleasant space up here.
0:04:33 > 0:04:36# I've got to admit It's getting better
0:04:36 > 0:04:41# It's getting better all the time #
0:04:41 > 0:04:47You know what? I'm more attracted to the exterior than the interior. No surprises there, I suppose!
0:04:47 > 0:04:49You've got a garage there at the side.
0:04:49 > 0:04:55And look at this! Lo and behold, you've got this absolutely massive garden!
0:04:55 > 0:04:57It doesn't end at the bushes.
0:04:57 > 0:05:01It goes all the way back to the tree and even a bit further!
0:05:01 > 0:05:04So, what's that? At least 30-40 metres, over 100 feet.
0:05:04 > 0:05:08And it's reasonably wide, as well. So great news on lots of levels.
0:05:08 > 0:05:13It's somewhere for the kids to play, vegetable plot or whatever,
0:05:13 > 0:05:19but also, it gives you space to potentially expand, extend. Fantastic.
0:05:19 > 0:05:22# It's getting better all the time #
0:05:22 > 0:05:27You'd want to get an architect on the case and submit your plans to the local authority.
0:05:27 > 0:05:32But if you got the permission, this place could turn into something special.
0:05:32 > 0:05:37Bearing in mind the guide price of £120 to £125,000,
0:05:37 > 0:05:41we asked a local estate agent what he thought of this property.
0:05:41 > 0:05:46The condition of the property is extremely poor, rundown.
0:05:46 > 0:05:50There's water damage. It needs an awful lot of work to turn it round.
0:05:50 > 0:05:53Knocking this down and starting again might be a good idea.
0:05:53 > 0:05:57There's so much needed doing, the renovation work could be extremely costly.
0:05:57 > 0:06:03If it was extended, what kind of resale value could you expect?
0:06:03 > 0:06:07If the property were to be extended to a four-bedroom property,
0:06:07 > 0:06:10I feel the value would be about £250,000.
0:06:10 > 0:06:13How about the rental potential as a four-bed?
0:06:13 > 0:06:14On the rental market,
0:06:14 > 0:06:19I'd say you would be able to achieve £950 to £1,000 per calendar month.
0:06:19 > 0:06:23Well, more than a weekend's work to sort this place out
0:06:23 > 0:06:26and not for the inexperienced.
0:06:26 > 0:06:30But with the right amount of effort and money, I think this could be a fabulous place.
0:06:30 > 0:06:34Let's see who fancied the challenge when it went under the hammer.
0:06:36 > 0:06:40Now we move to lot 55, a detached bungalow.
0:06:40 > 0:06:46Total refurbishment required. Got a guide of 120 to 125,000.
0:06:46 > 0:06:49Start me at 120,000.
0:06:49 > 0:06:55110 to start me, then. I don't mind where we start. 110 I have.
0:06:55 > 0:06:58110. 115 I have. 120?
0:06:58 > 0:07:01120 is bid. 125. 125 is bid.
0:07:01 > 0:07:05And 130. 130 I have. 135?
0:07:05 > 0:07:12135 is bid. 140. Yes? 137? I don't mind. 140, sir?
0:07:12 > 0:07:15138? I thought you might. 138.
0:07:15 > 0:07:20139. 139. And 140. 140 I'm bid. 141?
0:07:20 > 0:07:25141 I'm bid. On the right-hand side at 141.
0:07:25 > 0:07:29142 do I see? At 141,000, then,
0:07:29 > 0:07:33being sold for the first time at 141,000.
0:07:33 > 0:07:38For the second time at 141,000. Third and final time at 141,000.
0:07:38 > 0:07:41Out to my left, are you all done?
0:07:41 > 0:07:44Sold at 141,000. Your bidder's number is...?
0:07:44 > 0:07:48Letting out a sigh of relief was new owner Steve,
0:07:48 > 0:07:51who bought the property for £141,000.
0:07:51 > 0:07:56He and his wife Bernadette plan to make this their new home.
0:07:56 > 0:07:59They've recently moved back to the UK from Australia,
0:07:59 > 0:08:02where they lived for the past eight years.
0:08:02 > 0:08:05Bernadette teaches adult literacy and numeracy.
0:08:05 > 0:08:08Steve's background is in the building trade.
0:08:08 > 0:08:12Something tells me he's going to need all the know-how he's got for this property!
0:08:12 > 0:08:15I met them at the bungalow to find out more.
0:08:15 > 0:08:19Steve, Bernadette, lovely to meet you both. Congratulations.
0:08:19 > 0:08:21Well, I think "congratulations"!
0:08:21 > 0:08:24- That's right.- I think so!
0:08:24 > 0:08:27- Are you up for a challenge? - Nothing wrong with a challenge.
0:08:27 > 0:08:29Tell me about you two.
0:08:29 > 0:08:33We've been in the UK for five months. We came back from Australia.
0:08:33 > 0:08:35- We've been there for eight years. - Wow!
0:08:35 > 0:08:39Steve's been building beautiful houses over there.
0:08:39 > 0:08:41We came back to be close to family.
0:08:41 > 0:08:45We went for a few years and stayed eight, so we came back to be near everybody.
0:08:45 > 0:08:48- So, you're a builder?- Yes.
0:08:48 > 0:08:52I transferred my skills that way in Australia and ran my own business out there
0:08:52 > 0:08:56and now I can bring those skills back here and plough away.
0:08:56 > 0:08:59Those skills will be a vital bonus for this property
0:08:59 > 0:09:01where there's a lot of work to do!
0:09:01 > 0:09:04Why did you want to buy this place?
0:09:04 > 0:09:06It ticked lots of boxes.
0:09:06 > 0:09:10We need a nice-sized garden for our two golden retrievers.
0:09:10 > 0:09:15I wanted a garage so I could work on cars later on when the house is finished.
0:09:15 > 0:09:18We only needed a small house for the pair of us, really,
0:09:18 > 0:09:22and we think we can make this into a nice home.
0:09:22 > 0:09:24- Had you been to see it before you bought it?- Yes.
0:09:24 > 0:09:29We had to squeeze our way through the hedge across the front, which was overgrown.
0:09:29 > 0:09:33I said, "This is the place" as soon as I walked in the door.
0:09:33 > 0:09:36Most people were going, "This is not the place!"
0:09:36 > 0:09:40That's exactly that! People were saying, "This is too much for me."
0:09:40 > 0:09:42Rats were running around and that sort of thing!
0:09:42 > 0:09:45- What?! - Down here and just through there.
0:09:45 > 0:09:50- The house was full of rubbish. - There was rats.- You saw rats? - We could see rats.
0:09:50 > 0:09:53# There's a rat in me kitchen What am I gonna do?
0:09:53 > 0:09:55# There's a rat in me kitchen What am I gonna do?
0:09:55 > 0:09:59Oh, dear. This really is a house of horrors.
0:09:59 > 0:10:01Even once everything has been ripped out,
0:10:01 > 0:10:04there's still a lot to be done here.
0:10:04 > 0:10:08Tell me exactly what you're going to do to sort it out.
0:10:08 > 0:10:10We were hoping you'd come up with a few ideas!
0:10:10 > 0:10:13- A bulldozer?! - That's one of the options!
0:10:13 > 0:10:17We're going to leave the front lounge as it is, as a separate room,
0:10:17 > 0:10:20and use that as an office, because we both need that space.
0:10:20 > 0:10:25We're going to knock the kitchen into the other room and make it into a bigger lounge
0:10:25 > 0:10:28and put a single-storey extension on the back.
0:10:28 > 0:10:32- We've got quite a tight schedule - ten weeks.- Ten weeks?
0:10:32 > 0:10:34- In ten weeks we want to be in...- Wow.
0:10:34 > 0:10:37..because that suits us with the rental property we're in.
0:10:37 > 0:10:42Then we'll start, or have started, the extension by then.
0:10:42 > 0:10:44We'll see how it goes.
0:10:44 > 0:10:48- So, you'll live in it while you do the extension?- Yes.- That's the plan.
0:10:48 > 0:10:54If I were Steve and Bernadette, I would be asking my landlord about extending the rental lease.
0:10:54 > 0:10:57Ten weeks to get this place sorted doesn't sound long enough to me.
0:10:57 > 0:11:00But with Steve's Australian building skills,
0:11:00 > 0:11:03let's hope this property has found its hero.
0:11:03 > 0:11:05# I need a hero
0:11:05 > 0:11:09# I'm holding out for a hero Till the end of the night
0:11:09 > 0:11:13# He's gotta be strong And he's gotta be fast
0:11:13 > 0:11:14# And he's gotta be Fresh from the fight #
0:11:14 > 0:11:20With £20,000 set aside for the house and £15,000 for the extension,
0:11:20 > 0:11:23what are they planning upstairs?
0:11:23 > 0:11:27We may change the shape of the front dormer and put a gable on that.
0:11:27 > 0:11:30I'm speaking to the architect technician at the moment
0:11:30 > 0:11:32to come up with some drawings.
0:11:32 > 0:11:36So whether that happens is down to the council.
0:11:36 > 0:11:39I'm not looking forward to the gardens.
0:11:39 > 0:11:42The house doesn't worry me, but the gardens do.
0:11:42 > 0:11:44- Oh, wow. - Because it's such a lot of work.
0:11:44 > 0:11:49And then inside, new windows, electrics, new gas, new water pipes, everything.
0:11:49 > 0:11:51Yes, absolutely. New heating.
0:11:51 > 0:11:54New boiler. Maybe a wood burner in the fireplace.
0:11:54 > 0:12:00- That'd be quite nice. - That's what we'd like. We do feel the cold, so...!
0:12:00 > 0:12:02It's no surprise they're feeling cold
0:12:02 > 0:12:06after moving from the sunshine coast of Australia to the coast of Kent.
0:12:06 > 0:12:09But as they say, there's no place like home.
0:12:09 > 0:12:12After eight years in Oz, are you happy to be home?
0:12:12 > 0:12:14BOTH: Yes.
0:12:14 > 0:12:17It's nice to see our grown-up lads.
0:12:17 > 0:12:21- We've got some grandchildren, as well, haven't we?- We have. - So it's nice.
0:12:21 > 0:12:24- Listen, congratulations.- Thank you. - Good luck.- Thank you!
0:12:24 > 0:12:30- We really look forward to seeing how you get on!- BOTH: Thank you.
0:12:31 > 0:12:34Steve and Bernadette are clearly delighted to have got this place
0:12:34 > 0:12:38and they had the vision to see what it could become.
0:12:38 > 0:12:40However, there's a lot of work to get there
0:12:40 > 0:12:44and a very tight timescale of just ten weeks
0:12:44 > 0:12:46before they leave their rented accommodation.
0:12:46 > 0:12:51Will they do it in time? Find out later in the show!
0:12:55 > 0:12:58Now, I've headed to the northwest
0:12:58 > 0:13:01to the seaside town of Lytham St Annes in Lancashire.
0:13:01 > 0:13:06Lytham is often regarded as the slightly more upmarket and genteel neighbour
0:13:06 > 0:13:09to the bright and breezy Blackpool.
0:13:11 > 0:13:16Lytham St Annes is not only known as a nice place to come for a seaside holiday,
0:13:16 > 0:13:19it's also famous for its golf.
0:13:19 > 0:13:23The local golf club has played host to ten Open Championships,
0:13:23 > 0:13:28two Ryder Cups and numerous other major golfing tournaments.
0:13:28 > 0:13:31So, is the property I'm here to see going to be well above par
0:13:31 > 0:13:35or will I be heading into the rough?
0:13:35 > 0:13:39# It's rough, so rough
0:13:39 > 0:13:41# Out here #
0:13:41 > 0:13:45The property I'm here to see is just a mile from the centre of Lytham St Annes.
0:13:45 > 0:13:48It's only one road away from the beach.
0:13:49 > 0:13:55Here it is. I must say, first impressions are good. It's an attractive property.
0:13:55 > 0:13:58As you've probably guessed by the number of parking spaces,
0:13:58 > 0:14:02the building has already been divided up into flats.
0:14:02 > 0:14:05I'm here to see a two-bedroom basement flat
0:14:05 > 0:14:09and it had a guide price of £65,000.
0:14:09 > 0:14:11Let's take a closer look.
0:14:11 > 0:14:16There are seven flats in this building, converted in 2005.
0:14:16 > 0:14:20This flat has an allocated parking space at the back, which is a bonus,
0:14:20 > 0:14:24even if the entrance is a bit tight!
0:14:24 > 0:14:27There's no outside space, apart from that parking area.
0:14:27 > 0:14:31But before I can actually access the property,
0:14:31 > 0:14:34I have to negotiate a rather precipitous obstacle.
0:14:34 > 0:14:38# Watch your step When you go walking #
0:14:38 > 0:14:44Yes, steep stairs to tackle before you've even got in through your front door.
0:14:44 > 0:14:46You've got to think about when they're icy,
0:14:46 > 0:14:50people with mobility problems, families with buggies...
0:14:50 > 0:14:53I've got a feeling it's going to put some buyers off.
0:14:53 > 0:14:55# Watch your step... #
0:14:56 > 0:14:59I'm usually a little bit wary of basement flats.
0:14:59 > 0:15:02They can be a little bit dark and oppressive
0:15:02 > 0:15:06and they can sometimes smell a bit damp and musty.
0:15:06 > 0:15:11This smells a little bit musty, but I think that's because it's been empty.
0:15:11 > 0:15:13There's a few stains on the walls,
0:15:13 > 0:15:16which indicate there may've been some damp problems.
0:15:16 > 0:15:17I'd get that looked into.
0:15:17 > 0:15:20But it doesn't seem dark in here.
0:15:20 > 0:15:24You've got a big window here, this lovely big light doorway.
0:15:24 > 0:15:29In fact, it's incredibly spacious and in very good condition. This is not what I'm used to!
0:15:29 > 0:15:32Look, even the lampshades are nice in here!
0:15:32 > 0:15:36You've got contemporary lighting already, a fantastic kitchen!
0:15:36 > 0:15:39This is quite a cool pad for the right person.
0:15:39 > 0:15:41There's a hob, a nice little sink
0:15:41 > 0:15:45and the tiles are really modern and contemporary.
0:15:45 > 0:15:47You probably need a new carpet.
0:15:47 > 0:15:52Wow! For a guide price of £65,000, this isn't bad at all.
0:15:52 > 0:15:56# I call it a bargain
0:15:56 > 0:15:59# The best I ever had #
0:15:59 > 0:16:05Off the lounge, there's a bathroom, also in fairly good condition and quite modern.
0:16:05 > 0:16:07The second bedroom is a decent size.
0:16:07 > 0:16:10There really doesn't seem to be much work needed here at all.
0:16:10 > 0:16:13And there's still more to this flat.
0:16:14 > 0:16:16This is the master bedroom
0:16:16 > 0:16:19and I'm really happy to say it's a fantastic size.
0:16:19 > 0:16:22You'd easily get a big old bed in here.
0:16:22 > 0:16:25I'm not quite sure what this contraption is!
0:16:25 > 0:16:28I think that's a cheeky storage area,
0:16:28 > 0:16:33but I'd be inclined to get rid of all of this and just open up this nice brick fireplace.
0:16:33 > 0:16:37Little bit dark in here because you've only got small windows,
0:16:37 > 0:16:39but there's not much you can do about that.
0:16:39 > 0:16:43Off the master bedroom, you have the bathroom suite.
0:16:43 > 0:16:47Really nice bath, lovely tiles, a loo and a basin over there.
0:16:47 > 0:16:49And this... Come with me!
0:16:49 > 0:16:53This is what gets me really excited!
0:16:53 > 0:16:56Look! This is what I'd call a bonus room.
0:16:56 > 0:17:00OK, it's going to cost you, I'd say, a couple of grand,
0:17:00 > 0:17:03get this dry lined, plasterboarded, get the electrics in.
0:17:03 > 0:17:09You can see it's currently housing lots of plumbing for, potentially, the flats above.
0:17:09 > 0:17:13But if you can think about disguising it and covering it up,
0:17:13 > 0:17:16you could use this as a walk-in wardrobe, a dressing area.
0:17:16 > 0:17:19It's on the plan, so whoever buys this will own this space.
0:17:19 > 0:17:24This is the cheeky nugget that will make this flat a real success.
0:17:24 > 0:17:26# Well, surprise, surprise
0:17:26 > 0:17:29# C'mon, open your eyes
0:17:29 > 0:17:32# And let your love shine down #
0:17:32 > 0:17:34This bonus room is definitely a surprise.
0:17:34 > 0:17:39After all, with flats especially, every square foot counts.
0:17:39 > 0:17:43This place has space in bucketloads.
0:17:43 > 0:17:48We asked a local estate agent what he thought of this seaside flat.
0:17:48 > 0:17:51The flat comes across as very modern throughout.
0:17:51 > 0:17:53It doesn't look like it needs much work.
0:17:53 > 0:17:57I like the space of the flat and certainly the size
0:17:57 > 0:18:00and also the additional space at the rear of the building.
0:18:00 > 0:18:03There's lots of opportunities for conversion
0:18:03 > 0:18:06or it could be used as a dressing room.
0:18:06 > 0:18:08Let's talk money.
0:18:08 > 0:18:12Once spruced up, what rental income could be achieved here?
0:18:12 > 0:18:16I feel that this flat would let for approximately £500 per calendar month.
0:18:16 > 0:18:18And the sale value?
0:18:18 > 0:18:23If we were to market the property, it would be in the region of £75,000.
0:18:25 > 0:18:29Well, I love this place! It just needs a little tidy up.
0:18:29 > 0:18:34And there's the added potential offered by that bonus storage area. I love that!
0:18:34 > 0:18:38If you can get this for anywhere near the guide price, it'll be a bargain.
0:18:38 > 0:18:41So, who else loved this Lytham flat?
0:18:41 > 0:18:45Let's find out who bought it when we head to auction.
0:18:49 > 0:18:52This is a vacant two-bedroom basement apartment.
0:18:52 > 0:18:57And we'll start at £40,000. 40, do we see?
0:18:57 > 0:19:01£40,000 anywhere? £40,000 to start?
0:19:01 > 0:19:0740 I've got here. 45, then? 45 I've got there. 50.
0:19:07 > 0:19:1150,000. Yes, 50,000 we've got. 55?
0:19:11 > 0:19:17Yes, 55. 60? 60,000, I'm looking for. 59 we've got. 60,000 on the phone.
0:19:17 > 0:19:22Gentleman's back in, at the back. I've got 60 here. 62.
0:19:22 > 0:19:2762, I'm looking for. 62. 63, then? Got it. 64.
0:19:27 > 0:19:3064,000 I need on the telephone.
0:19:30 > 0:19:3464. Back in. 65. 66 I need now.
0:19:34 > 0:19:36£65,000 in the room.
0:19:36 > 0:19:4066? No. At £65,000 to you, sir, stood at the back.
0:19:40 > 0:19:44First time at 65,000. Second time at 65,000.
0:19:44 > 0:19:47We're all finished. 65. We are. Sold to you. Well done.
0:19:47 > 0:19:51That final bid of 65,000 was made by Gary,
0:19:51 > 0:19:54who grew up in the Lytham area.
0:19:54 > 0:19:59He works in the mobile phone industry and has also developed 20 properties in the past,
0:19:59 > 0:20:01so isn't a renovation novice.
0:20:01 > 0:20:03He recently moved back to Lancashire
0:20:03 > 0:20:07after living in Cyprus and the Czech Republic for the last six years.
0:20:07 > 0:20:12I met up with him in his new flat to find out more.
0:20:12 > 0:20:14# Yes, hey, it's good
0:20:14 > 0:20:19# To be back home again #
0:20:20 > 0:20:22Gary, great to meet you.
0:20:22 > 0:20:26- I think you've got a cracking flat here!- It's lovely, yes.
0:20:26 > 0:20:28Why did you want to buy this?
0:20:28 > 0:20:34It's in an area I used to live in. I've moved back into the UK and it's the perfect location.
0:20:34 > 0:20:38When you were bidding and thinking, "I think I'm going to get this!" how were you feeling?
0:20:38 > 0:20:43Very excited at that price. I assumed it was going to go slightly higher
0:20:43 > 0:20:46and it stopped and very, very happy.
0:20:46 > 0:20:48What was it about this property that you liked?
0:20:48 > 0:20:53The space. I think with a bit of TLC and work, we can get this looking nice.
0:20:53 > 0:20:57Let's talk about that little, let's call it a bonus room.
0:20:57 > 0:21:00- What is it out there? - I didn't even know it was there!
0:21:00 > 0:21:04There was no electrics, so we couldn't see what was inside.
0:21:04 > 0:21:06Did you sort of open that door and go, "Wow!"?
0:21:06 > 0:21:09We turned the electric on and went, "Whoa! This is a big room."
0:21:09 > 0:21:14# Well, surprise, surprise Surprise... #
0:21:14 > 0:21:18That large bonus room really was a big plus for Gary.
0:21:18 > 0:21:21Now all he has to do is decide what he'll use it for.
0:21:21 > 0:21:24I don't know. A couple of options,
0:21:24 > 0:21:27it could stay as it is, subject to how much it'll cost to change,
0:21:27 > 0:21:32or we could make a utility room, which I think is where we're heading.
0:21:32 > 0:21:36It's got to be all dry lined, damp-proofed, new floors, electrics.
0:21:36 > 0:21:39It's beyond me. I'll have to get a builder in.
0:21:39 > 0:21:45What about the fact that it's dark and low-ceilinged, how are you going to improve that?
0:21:45 > 0:21:48We're going to change the floor - wood floor all the way through.
0:21:48 > 0:21:52New lighting everywhere, a special reflective paint
0:21:52 > 0:21:54to try and get more light into the rooms.
0:21:54 > 0:21:56What about the kitchen, the bathrooms?
0:21:56 > 0:22:02They can stay. They just need a little bit of work, nothing major. I think they're OK.
0:22:02 > 0:22:06- Is this going to be a Gary pad?! - This is Gary-and-kids pad.- Right.
0:22:06 > 0:22:08Are you going to have any boys' toys in here?
0:22:08 > 0:22:13Yes, flat-screen telly, music system. It's ready to come in pretty quickly.
0:22:13 > 0:22:16- Really?! Have you already ordered that?- It's on its way.
0:22:16 > 0:22:20- When are you hoping to move in? - We want to be in within two weeks. - Wow!
0:22:20 > 0:22:23What will delay things is that extra room.
0:22:23 > 0:22:27It might take a couple of months to get it finished, but we'll be in within weeks.
0:22:27 > 0:22:30What's the budget?
0:22:30 > 0:22:33£10,000 for the whole lot and most of that is cosmetic.
0:22:33 > 0:22:38The floor will take a bit of money because we want a proper wooden floor all the way through.
0:22:38 > 0:22:40But we hope to come in under 10,000.
0:22:40 > 0:22:46Gary's delighted to be back home where he can see more of his two kids and close family.
0:22:46 > 0:22:50He's in the process of starting up new mobile phone shops in the area, too.
0:22:50 > 0:22:53So it's certainly all go for him at the moment.
0:22:53 > 0:22:56I was working in the Mediterranean and the Czech Republic.
0:22:56 > 0:23:00I came back to the UK literally about eight weeks ago.
0:23:00 > 0:23:02I needed somewhere to live.
0:23:02 > 0:23:04Landed, auction, house, purchase,
0:23:04 > 0:23:07renovation, business on the go, everything's moving forward.
0:23:07 > 0:23:10How are you going to fit this in with working?
0:23:10 > 0:23:13I've got about a month before the business takes off,
0:23:13 > 0:23:16so we've got to get this completed within four to five weeks
0:23:16 > 0:23:18so I can move in and focus on the business.
0:23:18 > 0:23:23Fantastic. Good luck. I can't wait to see it with the flat-screen and the lovely flashy toys!
0:23:23 > 0:23:25- Thank you.- Thank you, Gary.
0:23:25 > 0:23:27# I said, hey, it's so good
0:23:27 > 0:23:31# To be back home again #
0:23:31 > 0:23:35Gary does not hang around. He's only been home in the UK for a few months
0:23:35 > 0:23:40and he's already bought property and plans to start a new business.
0:23:40 > 0:23:42That's a lot to take on all at once.
0:23:42 > 0:23:47Luckily, this flat shouldn't cause him too much of a problem, but you never know!
0:23:48 > 0:23:51Coming up... I find the perfect family home in Wiltshire.
0:23:51 > 0:23:54Great location, great garden.
0:23:54 > 0:23:58This is going to go to somebody who wants to live here, and who could blame them?
0:23:58 > 0:24:03In Lancashire, has Gary finally put down roots in his basement flat?
0:24:03 > 0:24:08I've moved 20 times in 20 years, so I'm tired of moving. I enjoy this apartment.
0:24:11 > 0:24:15But first, did Steve and Bernadette bite off more than they could chew?
0:24:15 > 0:24:18I was so fed up. We were so tired.
0:24:20 > 0:24:25It's now time to head back to Littlestone-on-Sea on the Kent coast,
0:24:25 > 0:24:28where we met Steve and Bernadette.
0:24:28 > 0:24:33The couple recently moved back to the area after living in Australia for eight years.
0:24:33 > 0:24:36Steve's background is in the building trade.
0:24:36 > 0:24:39My word, was he going to need all the skills he had
0:24:39 > 0:24:41for this two-bedroomed house of horrors!
0:24:41 > 0:24:45It was in very poor condition indeed.
0:24:45 > 0:24:48# Cos you're filthy
0:24:48 > 0:24:52# Ooh, and gorgeous #
0:24:52 > 0:24:56They purchased this detached bungalow at auction for £141,000.
0:24:56 > 0:24:58The place was in a terrible state.
0:24:58 > 0:25:03Floors, ceilings, windows - pretty much everything needed to be replaced.
0:25:03 > 0:25:06The front and back gardens were more like forests,
0:25:06 > 0:25:09overgrown and out of control.
0:25:09 > 0:25:13With so much work to be done here, what were their plans?
0:25:14 > 0:25:18Tell me exactly what you're going to do to sort it out.
0:25:18 > 0:25:20We were hoping you'd come up with a few ideas!
0:25:20 > 0:25:23- A bulldozer?!- That's it!
0:25:23 > 0:25:26We're going to leave the front lounge as it is, as a separate room,
0:25:26 > 0:25:29and use that as an office, because we both need that space.
0:25:29 > 0:25:34We're going to knock the kitchen into the other room and make it into a bigger lounge
0:25:34 > 0:25:37and put a single-storey extension on the back.
0:25:37 > 0:25:41So with a budget of £20,000 to spend on the house
0:25:41 > 0:25:43and £15,000 for the extension,
0:25:43 > 0:25:48we returned 14 weeks later to see what they'd achieved.
0:26:07 > 0:26:09What a transformation!
0:26:09 > 0:26:13Steve and Bernadette have yet to start the extension for the kitchen,
0:26:13 > 0:26:17but let's see what's changed inside.
0:26:23 > 0:26:26The couple really have done an amazing job here.
0:26:26 > 0:26:31They've replastered, rewired and replumbed throughout.
0:26:34 > 0:26:37It's as if they've waved a magic wand here.
0:26:37 > 0:26:43Although when it came to the bathroom, it seems some things were a bit more a struggle.
0:26:44 > 0:26:50The bathroom... The bathroom was one of our biggest exercises really.
0:26:50 > 0:26:52The wife likes to read in the bath,
0:26:52 > 0:26:57so, consequently, we got a free-standing bath, which we think will be quite nice.
0:26:57 > 0:27:00Getting the bath up the stairs was a different story.
0:27:00 > 0:27:04It is very heavy, I was surprised at how heavy it was.
0:27:04 > 0:27:07We got it in, got it safely installed, so that was great.
0:27:07 > 0:27:10The bathroom suite is contemporary and stylish.
0:27:10 > 0:27:12Once the room is decorated,
0:27:12 > 0:27:17I'm sure Bernadette will be reading to her heart's content in that fabulous bath.
0:27:17 > 0:27:19So, what about the bedrooms?
0:27:20 > 0:27:23# Clean, yeah
0:27:23 > 0:27:27# Friends with Mr Sheen, yeah #
0:27:28 > 0:27:31Gone are those holes in the ceiling and floor.
0:27:31 > 0:27:36With all this work done, I'm surprised they had any energy left to tackle the garden.
0:27:36 > 0:27:39But just look at what they've done.
0:27:42 > 0:27:45Before, there wasn't a garden. It was just a wilderness.
0:27:45 > 0:27:47It came right up to the house here.
0:27:47 > 0:27:50But now, we've cleared the garden.
0:27:50 > 0:27:55Lots of hard work. As you can see, it's opened up to this.
0:27:55 > 0:28:00But you can see that it's gone from a very small space
0:28:00 > 0:28:03to this huge garden, which we didn't even imagine was here.
0:28:03 > 0:28:07And talking about opening up spaces, what about that living room?
0:28:09 > 0:28:11# Clean, yeah
0:28:11 > 0:28:15# Friends with Mr Sheen, yeah #
0:28:15 > 0:28:17Really stunning.
0:28:17 > 0:28:21With his building background, Steve really has pulled out all the stops.
0:28:21 > 0:28:25How do they think it compares to the original house?
0:28:25 > 0:28:29- There's no comparison from what it was like.- It's certainly different.
0:28:29 > 0:28:33It's become our home and we're pleased with it.
0:28:33 > 0:28:36Little features that we thought about on day one
0:28:36 > 0:28:38- are starting to come to fruition. - They are.
0:28:38 > 0:28:42- It'll all come together at the very end, we hope.- Hopefully.
0:28:42 > 0:28:45Did they stick to the original timescale?
0:28:45 > 0:28:48- We did get in in ten weeks. - We had to.
0:28:48 > 0:28:51We gave notice on our rental property
0:28:51 > 0:28:55because it was an expensive bill that could be better spent on this house.
0:28:55 > 0:29:00They had a budget of £20,000 for the house and £15,000 for the extension.
0:29:00 > 0:29:03How did that hold out?
0:29:03 > 0:29:07I've actually only spent about £16,500 so far.
0:29:07 > 0:29:11I think I'll probably get to that 17,500,
0:29:11 > 0:29:15and then I'll spend a similar amount on the extension.
0:29:15 > 0:29:21That would take their total budget up to his previous estimate of £35,000
0:29:21 > 0:29:23once the extension is built.
0:29:23 > 0:29:26Because it hasn't been done yet, they have no kitchen to speak of,
0:29:26 > 0:29:31so they're relying on friends, takeaways and microwave meals.
0:29:31 > 0:29:34But once the extension is finished that will be all sorted,
0:29:34 > 0:29:39with a lovely kitchen and family area leading out onto the garden.
0:29:40 > 0:29:46Steve and Bernadette's close friend Carol was closely involved in the clear-up of the garden,
0:29:46 > 0:29:48which was quite a task.
0:29:48 > 0:29:53It was so overgrown. 10, 12-foot-high with brambles.
0:29:53 > 0:29:57And we wondered what we were going to find at the end!
0:29:57 > 0:30:01It was quite an achievement when we got to the bottom on the first day.
0:30:01 > 0:30:05# Have a little patience #
0:30:05 > 0:30:08What does Carol think of it now?
0:30:08 > 0:30:11It's lovely. It's lovely and it can only get better.
0:30:11 > 0:30:17They've got nice ideas, bright... It's going to be a lovely home.
0:30:17 > 0:30:21Steve and Bernadette bought the bungalow for £141,000
0:30:21 > 0:30:23and, not including the extension,
0:30:23 > 0:30:27reckon their renovation budget would be around £17,500.
0:30:27 > 0:30:31That's a total outlay of just under £160,000.
0:30:31 > 0:30:34Have their improvements added value here?
0:30:34 > 0:30:38We asked two local estate agents for their views.
0:30:40 > 0:30:42It's a complete turnaround.
0:30:42 > 0:30:45The first time, this property was an absolutely mess,
0:30:45 > 0:30:48but this time, you would not recognise it.
0:30:48 > 0:30:53Obviously a few things to finish off, but the fittings look good.
0:30:53 > 0:30:55Excellent location.
0:30:55 > 0:30:58What kind of rent could the couple achieve here?
0:30:58 > 0:31:03This property would probably rent at £700 per calendar month.
0:31:03 > 0:31:07In the region of £850 per calendar month.
0:31:07 > 0:31:11- BOTH: Wow.- That's something we hadn't thought about, but another option.
0:31:11 > 0:31:13- Maybe later on.- That's good.
0:31:13 > 0:31:19If we decide to run off somewhere else for a change of scene! That's good news.
0:31:19 > 0:31:23That's a potential yield of between five and six-and-a-half percent,
0:31:23 > 0:31:26which is better than money in the bank.
0:31:26 > 0:31:28The estate agents reckon the property could sell
0:31:28 > 0:31:33for between £190 and £210,000 in its current condition.
0:31:33 > 0:31:35That would make the couple a pre-tax profit
0:31:35 > 0:31:40of between 31,500 and 51,500.
0:31:40 > 0:31:43But what about once they've built that extension?
0:31:43 > 0:31:49After the extension, I would think it would be worth in the region of 225 to 230,000.
0:31:49 > 0:31:54We'd be happy to market for 210 to 230,000.
0:31:54 > 0:31:58- That's nice.- That's good, as well. - That makes it worthwhile.- It does.
0:31:58 > 0:32:02Not that we particularly want to move yet, but it's nice to know.
0:32:02 > 0:32:05Once you've added the cost of building that extension,
0:32:05 > 0:32:10that could mean a profit of between 34 and £54,000,
0:32:10 > 0:32:13minus taxes and selling expenses.
0:32:13 > 0:32:16So, after moving back from Australia,
0:32:16 > 0:32:20does this property feel like home for them now?
0:32:20 > 0:32:23It does feel like home, yes. It does.
0:32:23 > 0:32:27There were times during the renovations where I made the comment
0:32:27 > 0:32:31that I wanted to take the bonfire from the garden and put it indoors!
0:32:31 > 0:32:36People remember me saying that, but I was so fed up with the whole thing. We were so tired.
0:32:36 > 0:32:41- The last few weeks... - We've got our own furniture inside. - Yes, it definitely feels like home.
0:32:46 > 0:32:50This is the picture-postcard village of Hullavington in Wiltshire.
0:32:50 > 0:32:53With the Cotswolds round the corner and transport links to London,
0:32:53 > 0:32:56this place has got a lot going for it.
0:32:56 > 0:32:59On the outskirts of Hullavington,
0:32:59 > 0:33:03by the side of this railway bridge, is the property I'm here to see.
0:33:03 > 0:33:07And that might give you a clue as to who used to live there.
0:33:07 > 0:33:11# My baby takes the morning train
0:33:11 > 0:33:15# He works from nine till five and then...
0:33:15 > 0:33:19# ..he takes another home again
0:33:19 > 0:33:23# To find me waiting for him #
0:33:24 > 0:33:28Well, the house used to be the home of the local station master.
0:33:28 > 0:33:32The station itself has long since closed, but the house remains.
0:33:32 > 0:33:34It's got a well in the garden, we like that.
0:33:34 > 0:33:38The house itself... Well, that's it. It looks pretty good.
0:33:38 > 0:33:40It's a four-bed detached house
0:33:40 > 0:33:44and the auction guide price was £325,000.
0:33:44 > 0:33:48When you add into the equation this large, secluded garden,
0:33:48 > 0:33:51it's looking pretty darned promising to me!
0:33:51 > 0:33:54What are we going to find inside?
0:33:54 > 0:33:59Nice big lounge. Interesting choice of colour, but a good-size space.
0:33:59 > 0:34:02It's got the wood-burning stove there.
0:34:02 > 0:34:04It's already got a nice feel to it.
0:34:04 > 0:34:08Just change the colour of the walls and the carpet, leave that as it is.
0:34:08 > 0:34:10Through here into what...
0:34:10 > 0:34:16Basically, it's a continuation of this wonderful sort of family living area.
0:34:16 > 0:34:17Stairs up to the bedrooms.
0:34:17 > 0:34:20Wonderful big double doors
0:34:20 > 0:34:23leading out and looking out across the fields.
0:34:23 > 0:34:27Glorious to have that view. It gives this lovely feeling to the property.
0:34:27 > 0:34:29Great rooms. And it gets better.
0:34:29 > 0:34:33Come through here. It's a bit cramped towards this side.
0:34:33 > 0:34:35This is probably the original part of the building.
0:34:35 > 0:34:39But through there, big conservatory. A little ante area.
0:34:39 > 0:34:44Through into the kitchen. It is a bit tired and dated. You'd want to get rid of this.
0:34:44 > 0:34:47You could really have some fun here with a bespoke kitchen,
0:34:47 > 0:34:50perhaps with a central unit or a breakfast bar.
0:34:50 > 0:34:54You've got lots of extra space. You've got the utility area there.
0:34:54 > 0:34:58Absolutely marvellous. All in all, I'm loving this place!
0:34:59 > 0:35:03The fact is, there's an awful lot of property here to love.
0:35:03 > 0:35:05There are a few damp patches downstairs
0:35:05 > 0:35:07and upstairs there's more damp.
0:35:07 > 0:35:13It looks like the whole roof might need a thorough going over, which could be costly.
0:35:13 > 0:35:16But you have got four decent-sized bedrooms up here
0:35:16 > 0:35:20and what looks like a brand-new bathroom suite,
0:35:20 > 0:35:22so it's not all bad.
0:35:23 > 0:35:27Well, the house is a pretty good size as it is,
0:35:27 > 0:35:31however, the good news is that there's also planning permission passed
0:35:31 > 0:35:35for the creation of a double garage over there and an extension.
0:35:35 > 0:35:38Basically, plans are to increase that flat roof there
0:35:38 > 0:35:41with another storey on top to create a double-storey extension
0:35:41 > 0:35:46and then to come out this way to create a kitchen-dining area.
0:35:46 > 0:35:51You'd have to look at whether or not it was financially viable to do it.
0:35:51 > 0:35:54The decision's not about whether it's worth the money,
0:35:54 > 0:35:57but whether it's worth it for you and your lifestyle.
0:35:57 > 0:36:02If your lifestyle includes a bit of high-speed trainspotting, you're quids in here.
0:36:09 > 0:36:13The auction guide price was £325,000.
0:36:13 > 0:36:17We asked a local property expert to look round and give us his thoughts.
0:36:18 > 0:36:24Obviously, it's a bit tired. On a nice big plot, in a good position.
0:36:24 > 0:36:27It's the sort of property that someone could buy and make their own.
0:36:27 > 0:36:31What about those trains?
0:36:31 > 0:36:34The railway lies to one side of the property.
0:36:34 > 0:36:36The trains, we believe, there's two an hour
0:36:36 > 0:36:40and they whistle by, so we don't think it's a major issue.
0:36:41 > 0:36:46What does this place need to put it back on the right track?
0:36:47 > 0:36:50To update it and bring it into today's standards,
0:36:50 > 0:36:54you'd want to put a new kitchen in, redecorate and recarpet throughout.
0:36:54 > 0:36:59Once done up, what might it fetch on the resale market?
0:36:59 > 0:37:06We think the value would be somewhere in the region of £425 to £450,000.
0:37:07 > 0:37:10How much could it be rented out for?
0:37:10 > 0:37:15You'd be looking at somewhere in the region of £1,000 to £1,200 per calendar month.
0:37:16 > 0:37:22What if the buyer takes advantage of the planning permission and extends the property?
0:37:22 > 0:37:27If someone was going to extend the property, modernise it and do everything to it,
0:37:27 > 0:37:32probably the ceiling value at the end would be in the region of £500,000.
0:37:33 > 0:37:37And how about renting out the extended house?
0:37:37 > 0:37:43The rental value would probably climb to somewhere between 1,300 and 1,500 per calendar month.
0:37:45 > 0:37:48Well, there's a little bit of work to do to sort this place out,
0:37:48 > 0:37:53but what you've got here is a lovely family home in a great location, great garden.
0:37:53 > 0:37:57This is going to go to somebody who wants to live here, and who could blame them?
0:37:57 > 0:38:01Let's find out who that was when it went under the hammer.
0:38:02 > 0:38:08Lot 25. Needs a bit doing to it, but scope to extend.
0:38:08 > 0:38:13Put me at 300. Go for there, shall we? At £300,000.
0:38:13 > 0:38:18At 300. Go in fives to start with. 300. 305. 310.
0:38:18 > 0:38:2215 I'll take. At 310,000. 15 to the hand. 20.
0:38:22 > 0:38:2525. At £320,000.
0:38:25 > 0:38:27325. 330.
0:38:27 > 0:38:30335. At £330,000.
0:38:30 > 0:38:35Five I'll take from anyone. Yes or no? Otherwise it's going to be sold at £330,000.
0:38:35 > 0:38:37335.
0:38:37 > 0:38:43340. 340. 45 to you, sir. 345. OK, at 345.
0:38:43 > 0:38:47Anybody else want a go at 350 or 347,500 if you like?
0:38:47 > 0:38:52Yes or no? Otherwise, it's going at £345,000 to you, sir, for the first time.
0:38:52 > 0:38:55345,000 for the second time.
0:38:55 > 0:38:58345, third and last time.
0:38:58 > 0:39:04That successful bid of £345,000 came from Tony.
0:39:04 > 0:39:09He is now retired, but used to run his own plastic and mould-making company.
0:39:09 > 0:39:13# But no-one knows he really is a...
0:39:13 > 0:39:16# ..plastic man #
0:39:19 > 0:39:22I met him back at the property to hear about his plans
0:39:22 > 0:39:25for the former station master's house.
0:39:25 > 0:39:29- # Plastic man #- # Plastic man #
0:39:29 > 0:39:33- Tony, lovely to meet you. - Pleased to meet you, too. - Congratulations.- Thank you.
0:39:33 > 0:39:36Tell me, why did you want to buy this place?
0:39:36 > 0:39:43Er, well, I've been looking for a long time for a nice detached place,
0:39:43 > 0:39:48a retirement job, bit of work to do, and this is it.
0:39:48 > 0:39:53- It's basically for you to live in. - I think so, yes. If I can put up with the trains.
0:39:53 > 0:39:56They do pass by every now and again. Was that an issue to you at all?
0:39:56 > 0:39:59- Well, I live near a racetrack at the moment.- Right.
0:39:59 > 0:40:02So I thought, "This has got to be better!"
0:40:02 > 0:40:04It comes and it's gone. Whoosh!
0:40:04 > 0:40:07Tell me more about you. Are you local?
0:40:07 > 0:40:11I live about eight miles away in Yatton Keynell.
0:40:11 > 0:40:15- We were just out for a cycle ride and saw the sign outside.- Oh, wow!
0:40:15 > 0:40:18I thought, "We'll go and have a look around" so we did.
0:40:18 > 0:40:21Tell me what you're going to do to it.
0:40:21 > 0:40:24Most of the work... I'll start with that flat roof,
0:40:24 > 0:40:29get that done, because it's in a bit of a mess.
0:40:29 > 0:40:31Get the main roof looked at.
0:40:31 > 0:40:36Then we'll start with the plumbing and the electrics.
0:40:36 > 0:40:39And then that through there,
0:40:39 > 0:40:41I want to knock all that down,
0:40:41 > 0:40:45- get upright walls...- Wow. - ..to make that into a big room.
0:40:45 > 0:40:49And through there, which is a utility room,
0:40:49 > 0:40:53put a new drain in and that'll be a wet room.
0:40:53 > 0:40:54- Like a shower room?- Yes.
0:40:54 > 0:40:59That's the plan, but every time I come, it changes!
0:41:02 > 0:41:05Things may not be set in stone just yet,
0:41:05 > 0:41:09but it does look as though Tony's not planning to extend the property
0:41:09 > 0:41:11as per the approved plans.
0:41:11 > 0:41:12I think that makes sense
0:41:12 > 0:41:16and allows him to concentrate on getting what's here just right.
0:41:16 > 0:41:20- Who will be living here? - Just my partner and myself.- Right.
0:41:20 > 0:41:23Great. Lovely spot to retire to. Is that the plan?
0:41:23 > 0:41:28- I'm retired. I drew my first pension last week.- Did you? Well done!
0:41:28 > 0:41:31So this is my retirement plan, if you like.
0:41:31 > 0:41:34How was that, drawing your first pension?!
0:41:34 > 0:41:38Quite a relief. I could do with the money!
0:41:40 > 0:41:43So all change for Tony. But he does seem fairly laidback
0:41:43 > 0:41:47about what could be a pretty big project.
0:41:47 > 0:41:50What's the timescale for sorting out the house?
0:41:50 > 0:41:54I've given myself a year, but hopefully it'll be less.
0:41:54 > 0:41:57Any time pressures to get it sorted? Are you going to live here?
0:41:57 > 0:42:01No, I'll stay where I am. I'm only eight miles away.
0:42:01 > 0:42:04Have you got an idea how much it'll all cost?
0:42:04 > 0:42:07I've got a budget, but whether I'll stick to it, I don't know.
0:42:07 > 0:42:11In fact, Tony's budget is around 50 grand.
0:42:11 > 0:42:16Fixing the roof and building the garage will certainly eat into that.
0:42:16 > 0:42:19- Congratulations.- Thank you. - Good luck.- Cheers.
0:42:19 > 0:42:21- We look forward to seeing how you get on.- Lovely.
0:42:23 > 0:42:26After a long search, Tony and his partner
0:42:26 > 0:42:28have found a wonderful place to retire to.
0:42:28 > 0:42:31Lots of work to be done, but a reasonably realistic budget.
0:42:31 > 0:42:34But a year to do it? That's a long time.
0:42:34 > 0:42:37How will they get on? Find out later in the show.
0:42:41 > 0:42:45The world of property can be a bit of an uphill struggle
0:42:45 > 0:42:48and even the best-laid plans can turn into a downward spiral.
0:42:48 > 0:42:50You need to put lots of hard work in
0:42:50 > 0:42:53before you reach the home straight and secure victory.
0:42:53 > 0:42:56So, how did the buyers on today's show get on?
0:42:57 > 0:43:00Time now to head back to Lytham St Annes in Lancashire
0:43:00 > 0:43:06where Gary bought this two-bedroom basement flat for £65,000.
0:43:06 > 0:43:10After living abroad for six years, he's returned to his hometown
0:43:10 > 0:43:12so he can see more of his two children
0:43:12 > 0:43:15and set up his new mobile phone shops.
0:43:15 > 0:43:20The flat was in pretty good condition already, with quality fixtures and fittings.
0:43:22 > 0:43:26The kitchen didn't need much work at all.
0:43:26 > 0:43:30Plus, there was a bonus - a small cellar-type room off the master bedroom
0:43:30 > 0:43:35that needed some work, but would provide extra space.
0:43:35 > 0:43:39All Gary had to do was to decide how to make best use of it.
0:43:39 > 0:43:42I don't know. A couple of options,
0:43:42 > 0:43:45it could stay as it is, subject to how much it'll cost to change,
0:43:45 > 0:43:50or we could make it a utility room, which I think is where we're heading.
0:43:50 > 0:43:54It's got to be all dry lined, damp-proofed, new floors, electrics.
0:43:54 > 0:43:57It's beyond me. I'll have to get a builder in.
0:43:57 > 0:44:01With a budget of between 10 and 15,000,
0:44:01 > 0:44:04has Gary managed to flood this basement flat with light
0:44:04 > 0:44:08and turn it into a shiny hi-tech pad for himself?
0:44:08 > 0:44:12Just seven weeks later, we're back to find out.
0:44:26 > 0:44:31Since you were last here, we've done the floor, which is now solid oak.
0:44:31 > 0:44:37We've redecorated the whole place with special light-reflecting paint, which has worked very well.
0:44:37 > 0:44:42The fireplaces have all been closed up with plasterboard.
0:44:42 > 0:44:44And we've done the back room.
0:44:44 > 0:44:48OK, be patient, viewers. We're saving that bonus room for later.
0:44:48 > 0:44:52In the meantime, let's check out the kitchen.
0:44:56 > 0:45:00With the kitchen, there wasn't that much to do. It needed a good clean.
0:45:00 > 0:45:04It needed new appliances - oven, hob, that sort of thing, a fridge-freezer.
0:45:04 > 0:45:06But, basically, we kept it as it was.
0:45:09 > 0:45:13That reflective paint really helps brighten up these rooms.
0:45:17 > 0:45:19- # Let it shine # - With extra lighting added,
0:45:19 > 0:45:24- the master bedroom truly shines. - # Let it shine #
0:45:26 > 0:45:30The lighting here and throughout the house, we changed to LED.
0:45:30 > 0:45:34My parents walked in and said, "Your electricity bill is going to be huge!"
0:45:34 > 0:45:38I thought, "They're right", so we changed them to three-watt LED lights,
0:45:38 > 0:45:42which is the equivalent of a 120-watt lightbulb, which is fabulous.
0:45:42 > 0:45:45The foundations were here. This was all exposed brickwork.
0:45:45 > 0:45:49We had it treated for a bit of damp, plastered over.
0:45:49 > 0:45:51Bit of artwork works really well.
0:45:51 > 0:45:53This is the original floor.
0:45:53 > 0:45:56Literally down on our hands and knees, cleaning.
0:45:56 > 0:45:59Seven or eight coats of varnish and it's come up nicely.
0:46:02 > 0:46:05And what about that bonus room?
0:46:05 > 0:46:08Well, just take a look at this.
0:46:13 > 0:46:18Gary has created a fabulous walk-in wardrobe just off the ensuite.
0:46:18 > 0:46:23This is a fantastic use of space, which also adds extra storage.
0:46:23 > 0:46:28From a resale perspective, this room raises the value, as Gary explains...
0:46:28 > 0:46:31This is what was the cellar room.
0:46:31 > 0:46:36We've got some walk-in wardrobe space here, the water system is in here,
0:46:36 > 0:46:39the washing machine and dryer is in here
0:46:39 > 0:46:42and more wardrobe space here.
0:46:42 > 0:46:45I would've probably made it an office,
0:46:45 > 0:46:48but from a resale perspective, it had to be something more useful,
0:46:48 > 0:46:51so we went for a walk-in wardrobe and I think it works.
0:46:51 > 0:46:54This room certainly gives the property more space and shine,
0:46:54 > 0:46:59and with flats especially, every square foot really does count.
0:46:59 > 0:47:04Did Gary run into any problems during the renovation?
0:47:04 > 0:47:06Considering it's a basement apartment,
0:47:06 > 0:47:09we only found a tiny bit of damp on the fireplace.
0:47:09 > 0:47:12We treated that and that's no longer an issue.
0:47:12 > 0:47:17We were pleased we didn't have any other issues regarding damp within the property.
0:47:17 > 0:47:22In a lovely flat like this, with all Gary's fancy toys and hi-tech equipment,
0:47:22 > 0:47:26surely he went over his original budget of 10,000?
0:47:26 > 0:47:29From a budget perspective, we actually came in under budget.
0:47:29 > 0:47:33With everything, including the back room, we came in at £9,700,
0:47:33 > 0:47:37which was handy because I hadn't budgeted for smaller things.
0:47:37 > 0:47:39Returning to the UK, I didn't have anything,
0:47:39 > 0:47:43so I had to go out and buy TVs, hi-fi systems.
0:47:43 > 0:47:48We bought a nice fire, which is electric with water vapour.
0:47:48 > 0:47:51But things like pillows, pillowcases, quilts, quilt covers,
0:47:51 > 0:47:54I hadn't budgeted for and that adds up.
0:47:54 > 0:47:58So the fact that we came in under budget helped out with the bits and pieces.
0:47:58 > 0:48:02Gary's budget came in just short of 10,000 in the end,
0:48:02 > 0:48:05which is pretty impressive, given what he's achieved here.
0:48:05 > 0:48:10It was all done in a matter of weeks. But how?
0:48:10 > 0:48:13Work-wise, I brought joiners and plasterers in where needed.
0:48:13 > 0:48:16My parents helped out.
0:48:16 > 0:48:20Very old, 75, but they can paint, as long as you give them tea!
0:48:20 > 0:48:25And my children! I had one with a screwdriver, one with a paintbrush and we managed it between us.
0:48:26 > 0:48:31Gary's spent just short of £75,000 in total on this two-bed flat,
0:48:31 > 0:48:35including the 65-grand purchase price.
0:48:35 > 0:48:38Could he have added much value in just a few weeks?
0:48:38 > 0:48:43Let's see what two local estate agents think of his efforts.
0:48:46 > 0:48:49My first impressions of the property,
0:48:49 > 0:48:52I feel it's very modern, trendy.
0:48:52 > 0:48:55I like the benefit of having the walk-in wardrobe
0:48:55 > 0:48:57and the way the bathroom's been altered.
0:48:57 > 0:49:01I think the way the vendor has done the project,
0:49:01 > 0:49:04I couldn't see how he could maximise it further.
0:49:04 > 0:49:08He's done it to a high finish and gone as far as I think you can.
0:49:08 > 0:49:11What's their opinion of the walk-in wardrobe conversion?
0:49:11 > 0:49:15The way the vendor has changed the cellar and extended through the back
0:49:15 > 0:49:18is quite impressive, really using the most of the space.
0:49:18 > 0:49:22And again, with a high-end finish, it gives it that wow factor.
0:49:22 > 0:49:24How much rent could he get?
0:49:24 > 0:49:29I'd expect this property to let in the region of £500 per calendar month.
0:49:29 > 0:49:32The rental value on this property would be £500.
0:49:32 > 0:49:37Sounds about right for the market place. I'd guess that's about fair.
0:49:37 > 0:49:39That's a pretty healthy yield of eight percent.
0:49:39 > 0:49:46What's the resale value? Remember, Gary's total outlay is around £75,000.
0:49:46 > 0:49:51In my opinion, the property would sell in the region of 85 to 90,000.
0:49:51 > 0:49:55I would suggest to market this property in the region of £85,000.
0:49:55 > 0:49:58Seems a little bit low for me.
0:49:58 > 0:50:02But I guess, present market, if I was selling, I might have to put it on at that sort of price.
0:50:02 > 0:50:06What's that, a 15, 20 percent return? It's still OK.
0:50:06 > 0:50:08I'd say it's OK, too.
0:50:08 > 0:50:13Especially considering it's only a matter of weeks since we first met Gary.
0:50:13 > 0:50:17Those valuations would see him with a potential pre-tax profit
0:50:17 > 0:50:20of between ten and £15,000,
0:50:20 > 0:50:23minus the usual selling expenses, of course.
0:50:23 > 0:50:27But this is his new home, so he's staying put for the time being.
0:50:27 > 0:50:31I've moved 20 times in 20 years, so I'm a bit tired of moving.
0:50:31 > 0:50:34This is one of my favourite properties I've had.
0:50:34 > 0:50:37The way we designed it, particularly with the wardrobe,
0:50:37 > 0:50:40it's designed to appeal to maybe a family or a couple.
0:50:40 > 0:50:45I'll see what happens next year with the market. If it picks up, I'll maybe put it on.
0:50:45 > 0:50:48If not, I'll enjoy living here.
0:50:52 > 0:50:54We're back in Hullavington, Wiltshire,
0:50:54 > 0:50:58to check on progress at the old station master's house
0:50:58 > 0:51:02which Tony bought at auction for £345,000.
0:51:02 > 0:51:05It was to be a project for his retirement.
0:51:05 > 0:51:08The priority was to sort out the leaky roofs,
0:51:08 > 0:51:11tackle those nasty damp patches
0:51:11 > 0:51:14and then he was going to get stuck into knocking down walls
0:51:14 > 0:51:17and rearranging the place.
0:51:17 > 0:51:22I want to knock all that down to make that into a big room.
0:51:22 > 0:51:27And through there, put a new drain in and that'll be a wet room.
0:51:27 > 0:51:29- Like a shower room?- Yes.
0:51:29 > 0:51:35That's the plan, but every time I come, it changes!
0:51:35 > 0:51:3811 months after our first visit,
0:51:38 > 0:51:41we're back to find out if it's been full steam ahead...
0:51:43 > 0:51:47..or a case of leaves on the tracks for this station master's house.
0:51:47 > 0:51:49# This train
0:51:49 > 0:51:51# Don't stop
0:51:51 > 0:51:55# This train don't stop
0:51:56 > 0:52:00# This train don't stop there
0:52:00 > 0:52:03# Any more #
0:52:03 > 0:52:07Well, Tony hasn't quite reached his final destination,
0:52:07 > 0:52:10but he has managed to tackle the biggest problem in this property -
0:52:10 > 0:52:12the leaking roof.
0:52:12 > 0:52:16There was a major leak upstairs, the roof,
0:52:16 > 0:52:20so the roof's been completely redone, refelted and battened,
0:52:20 > 0:52:23and that's got rid of that.
0:52:24 > 0:52:26Clearly, there's still landscaping to do outside
0:52:26 > 0:52:28and a double garage to build,
0:52:28 > 0:52:30but true to his word,
0:52:30 > 0:52:35Tony has made a big difference to the rather tired old kitchen.
0:52:35 > 0:52:39# Get on, get on, get on, get on Get on
0:52:39 > 0:52:43- # My groovy train # - # Get on my groovy train #
0:52:46 > 0:52:48Right, this is my new kitchen.
0:52:48 > 0:52:52We've knocked down the walls over here.
0:52:52 > 0:52:54New floors, new walls,
0:52:54 > 0:52:57new roof, ceilings,
0:52:57 > 0:52:59all new everything.
0:52:59 > 0:53:01Double ovens.
0:53:01 > 0:53:05One for each, since my partner's a vegetarian.
0:53:05 > 0:53:08And how do you like my pop-up plugs?
0:53:08 > 0:53:10# Pop music... Talk about
0:53:10 > 0:53:11# Pop music #
0:53:11 > 0:53:15There you go. All mod cons.
0:53:17 > 0:53:22That lime-green utility room has popped off this mortal coil, too.
0:53:22 > 0:53:28This used to be the utility room. There was no water, no electric, no drainage in here,
0:53:28 > 0:53:34so I put this wall up here to divide this area up.
0:53:34 > 0:53:37New sink, toilet and shower.
0:53:37 > 0:53:41I'm really pleased with it.
0:53:41 > 0:53:45Most people give it a wow factor, so I'm happy with that.
0:53:45 > 0:53:49With the help of a plasterer, an electrician and his son Rob,
0:53:49 > 0:53:51things are looking very good downstairs.
0:53:51 > 0:53:56Now Tony's got to battle on and get things finished upstairs.
0:53:56 > 0:53:59Hopefully now, it's mostly rubbing down
0:53:59 > 0:54:02and filling and slapping the paint on.
0:54:02 > 0:54:08Tony gave himself a year to do the work. He's been at it for 11 months already.
0:54:08 > 0:54:13How long until he and his partner, Pamela, can move in as planned?
0:54:13 > 0:54:18A couple of months, I would think. So...
0:54:18 > 0:54:19We'll do the lounge,
0:54:19 > 0:54:22a couple of bedrooms and a bathroom and then we'll move in
0:54:22 > 0:54:26and do the rest once we're here.
0:54:27 > 0:54:29So maybe he's one month behind schedule,
0:54:29 > 0:54:32but what about his £50,000 budget?
0:54:32 > 0:54:36Has that gone off like a runaway train?
0:54:37 > 0:54:42I reckon it's cost me 60, with the garage and everything, so it'll end up being about that.
0:54:44 > 0:54:47If Tony's spend does come in at 60,000,
0:54:47 > 0:54:50his total outlay will be £405,000.
0:54:50 > 0:54:55We asked two local estate agents to look around and give us their thoughts.
0:54:56 > 0:55:01The standard's very good. Lovely big kitchen knocked through,
0:55:01 > 0:55:04changed the utility to a downstairs shower room.
0:55:04 > 0:55:07If they keep going, it's going to be very, very nice.
0:55:07 > 0:55:11The key things he has to do to make this a good property,
0:55:11 > 0:55:15he needs to finish the double garage, I think that's really important,
0:55:15 > 0:55:17decorate the rooms
0:55:17 > 0:55:22and bring the property back up to its original state, which he is doing,
0:55:22 > 0:55:25and then the property would sell very well.
0:55:25 > 0:55:28Sounds like Tony's on the right track.
0:55:28 > 0:55:33What might the property fetch on the resale market once the work's complete?
0:55:33 > 0:55:38I would value this property at £425,450.
0:55:38 > 0:55:42You're probably looking at somewhere in the region of 450 to 465,000.
0:55:42 > 0:55:46About right, yes. About what I would've thought.
0:55:46 > 0:55:48If Tony finishes the work,
0:55:48 > 0:55:51those resale valuations could see him with a profit
0:55:51 > 0:55:56of between 20 and 60,000, minus tax and the usual expenses.
0:55:56 > 0:55:58How about rental?
0:55:58 > 0:56:02Somewhere in the region of £1,200 to £1,300 per calendar month.
0:56:02 > 0:56:08The rental figure I would put on this property is £1,700 per calendar month.
0:56:08 > 0:56:12Very good. I think I might rent it out, then!
0:56:14 > 0:56:19Joking aside, is Tony tempted to sell or rent?
0:56:19 > 0:56:23It depends how much you want for a year's work!
0:56:24 > 0:56:28So for me, it's fine, because I don't want to sell it.
0:56:28 > 0:56:31When it's all finished, I think it will be a lovely property
0:56:31 > 0:56:34for Tony and Pamela to enjoy their retirement.
0:56:34 > 0:56:37What has Tony made of the process so far?
0:56:37 > 0:56:39It's going quite well.
0:56:39 > 0:56:42The bits that I've done I'm very pleased with.
0:56:42 > 0:56:45Er... Hard work.
0:56:45 > 0:56:49But, then, what are we here for but to work hard?!
0:56:54 > 0:56:59We hope you enjoyed today's tales of auction high and lows.
0:56:59 > 0:57:02- We look forward to seeing you next time.- BOTH: Good bye.
0:57:02 > 0:57:06Subtitles by Red Bee Media Ltd
0:57:06 > 0:57:10E-mail subtitling@bbc.co.uk