0:00:02 > 0:00:05Hello. It's difficult to judge where the property market is these days.
0:00:05 > 0:00:07You can't always believe what you read
0:00:07 > 0:00:08and what you hear.
0:00:08 > 0:00:10No, so what you need to do is see for yourself
0:00:10 > 0:00:13and one way to do that is by going to your local auction.
0:00:38 > 0:00:41A huge range of properties sell under the hammer,
0:00:41 > 0:00:44so, why not go to your local auction room and see what's for sale.
0:00:44 > 0:00:47You might be pleasantly surprised by the prices of things,
0:00:47 > 0:00:50you may even be able to bag yourself a bargain.
0:00:50 > 0:00:54So, here's what got our buyers excited on today's show.
0:00:55 > 0:00:56Fortunately,
0:00:56 > 0:00:59not all the rooms in this Lincoln house are the same size.
0:00:59 > 0:01:02It's the kitchen, it's absolutely tiny,
0:01:02 > 0:01:05you've only got room for your sink.
0:01:05 > 0:01:09This Kent property would be much improved if you moved the kitchen.
0:01:09 > 0:01:12I think it would look fantastic, you've just got to work it out
0:01:12 > 0:01:15and see if the maths work.
0:01:15 > 0:01:19And this Cardiff semi has one long lounge and two bedrooms.
0:01:19 > 0:01:25Third bedroom, there. But then, a bit of a surprise.
0:01:26 > 0:01:31'All these properties went to auction and we'll find out who bought them
0:01:31 > 0:01:34'and what they paid when they went under the hammer.'
0:01:37 > 0:01:40This is the cathedral city of Lincoln,
0:01:40 > 0:01:44the largest city in historic Lincolnshire.
0:01:44 > 0:01:47In the 12th century Lincoln was one of the wealthiest
0:01:47 > 0:01:49places in the country.
0:01:49 > 0:01:53Exporting wool and cloth all over Europe.
0:01:53 > 0:01:57In fact, Robin Hood wore Lincoln green cloth.
0:01:57 > 0:02:00Well, nowadays it is a major tourist destination
0:02:00 > 0:02:02with people coming to see the Cathedral
0:02:02 > 0:02:05and other beautiful, historic buildings.
0:02:10 > 0:02:14Locals divide Lincoln into uphill and downhill.
0:02:14 > 0:02:15The Cathedral Quarter is uphill
0:02:15 > 0:02:19and was, historically, the most affluent part of the city.
0:02:19 > 0:02:21Houses in this area still fetch a premium
0:02:21 > 0:02:24and that is where I'm headed.
0:02:25 > 0:02:27Well, just a short walk from the city centre
0:02:27 > 0:02:30is a property that I'm here to see.
0:02:30 > 0:02:34£115,000 was the guide price for this beautiful,
0:02:34 > 0:02:37double fronted Victorian house, three bedrooms.
0:02:37 > 0:02:41I can see straight away that it's on a fairly busy road
0:02:41 > 0:02:44and there's double yellow lines right outside so, no parking.
0:02:44 > 0:02:47Let's see what it's like inside.
0:02:47 > 0:02:53One good thing - the property still has its original sash windows.
0:02:53 > 0:02:55It would be great to restore those,
0:02:55 > 0:02:58but double glazed replacements might be better
0:02:58 > 0:03:00because of noise from the road.
0:03:02 > 0:03:05So, through the front door
0:03:05 > 0:03:09and nice to be greeted by that, a beautiful tiled hallway.
0:03:09 > 0:03:12Fingers crossed there'll be more original features
0:03:12 > 0:03:14and lovely things like that.
0:03:14 > 0:03:17On this side we've got ourselves a reception room.
0:03:17 > 0:03:20Open fire, open that up and make a real feature, there.
0:03:20 > 0:03:22You've got the bay window...
0:03:22 > 0:03:25Floorboards would be beautiful stripped back, as well,
0:03:25 > 0:03:26as would the doors.
0:03:26 > 0:03:28That looks like a bit of a...
0:03:28 > 0:03:31A bit of a... Oh, golly.
0:03:33 > 0:03:35Hm, OK.
0:03:35 > 0:03:37A bit of damp, then.
0:03:37 > 0:03:39Need to have that sorted out.
0:03:39 > 0:03:43Let's hope that wood rot ends in that naughty corner,
0:03:43 > 0:03:48or it could take a lot of time out of your schedule to fix.
0:03:48 > 0:03:52There's another large reception room across the hall,
0:03:52 > 0:03:55it also needs complete redecoration,
0:03:55 > 0:03:58but I am impressed by the amount of space here.
0:03:58 > 0:04:00Well, towards the rear of the property
0:04:00 > 0:04:03you've got an interesting space under the stairs,
0:04:03 > 0:04:06which has been converted into a pantry and store area.
0:04:06 > 0:04:09Then, through to the third reception room, here,
0:04:09 > 0:04:12again a fireplace, which is good.
0:04:12 > 0:04:15But, then, what was going on here?
0:04:15 > 0:04:17Look at it, it's the kitchen.
0:04:17 > 0:04:20It's absolutely tiny, you've only got room for your sink
0:04:20 > 0:04:21and very little else.
0:04:21 > 0:04:24So, the obvious solution is to have this as a utility room
0:04:24 > 0:04:27and make this into the kitchen of the property.
0:04:27 > 0:04:29You've got lots of light coming in through this window,
0:04:29 > 0:04:32it would really make a big difference.
0:04:32 > 0:04:35You could take out some walls, but that might be a bit complicated.
0:04:35 > 0:04:37Simple thing, make this the kitchen
0:04:37 > 0:04:39have that as the utility room, job done.
0:04:39 > 0:04:42So, plenty of scope for improvement here,
0:04:42 > 0:04:48in this house that went to auction, guided at £115,000.
0:04:48 > 0:04:50At the back there is a decent sized walled yard,
0:04:50 > 0:04:55and the condition of the building doesn't look too bad at all.
0:04:58 > 0:05:01Upstairs, there are three bedrooms.
0:05:01 > 0:05:05And a bathroom, ah, all showing their age.
0:05:05 > 0:05:09Well, don't underestimate the amount of work that's needed
0:05:09 > 0:05:10to sort this place out.
0:05:10 > 0:05:14It doesn't have any central heating, I'm sure the electrics need replacing,
0:05:14 > 0:05:16damp proof course, general refurbishment inside,
0:05:16 > 0:05:21new kitchen, new bathroom. It's a major restoration job.
0:05:21 > 0:05:23That lot doesn't faze me too much,
0:05:23 > 0:05:24but what does concern me is this,
0:05:24 > 0:05:27which I just found at the front of the property.
0:05:27 > 0:05:29A very, very large crack.
0:05:29 > 0:05:32On its own, would it worry me? Well, yes, kind of.
0:05:32 > 0:05:34But it worries me even more
0:05:34 > 0:05:36when there's a, not quite the same but almost,
0:05:36 > 0:05:38similar crack on the other side.
0:05:38 > 0:05:41My concern is that the front of the building is, possibly,
0:05:41 > 0:05:43separating from the rest of the house.
0:05:43 > 0:05:48Now, that, dear viewer, is quite serious.
0:05:52 > 0:05:56The good news is that there aren't any matching cracks
0:05:56 > 0:05:57on the exterior walls.
0:05:57 > 0:06:02I'd advise getting a surveyor to check out the building's structure.
0:06:02 > 0:06:06What does a local estate agent think of this property?
0:06:06 > 0:06:10There are definitely pros and cons with this one.
0:06:10 > 0:06:13It's got a lot of scope, it's got some lovely, old features,
0:06:13 > 0:06:16it's got the tessellated tile flooring,
0:06:16 > 0:06:19the original fireplaces, original sash windows in the bays.
0:06:19 > 0:06:23People love a bit of character, so definitely keep them,
0:06:23 > 0:06:25don't go bulldozing.
0:06:25 > 0:06:30Once renovated, how much rent could the house generate?
0:06:30 > 0:06:33I think if we were renting the property out,
0:06:33 > 0:06:37you could ask somewhere between £650 and £700 per calendar month.
0:06:37 > 0:06:39What if it was sold?
0:06:39 > 0:06:41I think for sale value,
0:06:41 > 0:06:45obviously, it's going to be when it comes to the market
0:06:45 > 0:06:48and how the market is in that situation,
0:06:48 > 0:06:50but I would imagine it would be around the £200,000 mark.
0:06:50 > 0:06:54Well, there is a lot to like about this house.
0:06:54 > 0:06:56I love the period features,
0:06:56 > 0:06:58I love the location, so close to Lincoln city centre.
0:06:58 > 0:07:01And, in general, a bit of effort spent here,
0:07:01 > 0:07:03sorting and the damp and other issues,
0:07:03 > 0:07:05you'd have yourself a great property.
0:07:05 > 0:07:07Let's see who agreed when it went under the hammer.
0:07:07 > 0:07:12A three bedroomed, double fronted, Victorian, end of terrace property
0:07:12 > 0:07:15in need of modernisation and refurbishment.
0:07:15 > 0:07:18£100,000 to make a start, here.
0:07:18 > 0:07:19On my left, at £100,000.
0:07:19 > 0:07:23At 102, 102?
0:07:23 > 0:07:29104, 106, 108, 110, 112, 114.
0:07:29 > 0:07:33116, 117, 118. 118.
0:07:33 > 0:07:38119, 120, 121.
0:07:38 > 0:07:43£121,000, are you sure? You've reached your limit.
0:07:43 > 0:07:47122, against you, madam. £122,000
0:07:47 > 0:07:52at 122,000... 123.
0:07:52 > 0:07:53Are you sure, sir?
0:07:53 > 0:07:56At 123, still in the middle of the room, all the way.
0:07:56 > 0:07:59At £123,000,
0:07:59 > 0:08:04at £123,000, once,
0:08:04 > 0:08:07£123,000 twice,
0:08:07 > 0:08:12the third and final time of asking, at £123,000, are we all done?
0:08:12 > 0:08:15Thank you, Madam, well done.
0:08:16 > 0:08:22That final, successful bid of £123,000 was bid by Sue.
0:08:22 > 0:08:24She's a nurse and was at the auction with her partner Rob,
0:08:24 > 0:08:28who is a property developer and builder.
0:08:28 > 0:08:31But it was Sue and her brick layer stepson, Jason,
0:08:31 > 0:08:34and pet dog, Polly, who I met at the house.
0:08:34 > 0:08:36Sue, Jason, lovely to meet you both.
0:08:36 > 0:08:37And you.
0:08:37 > 0:08:39- Congratulations. - Thank you.
0:08:39 > 0:08:43Got yourself a lovely house, tell me why you wanted to buy it.
0:08:43 > 0:08:46I've been wanting to have a renovation project for some time,
0:08:46 > 0:08:49and I saw this property up for auction,
0:08:49 > 0:08:52and came to have a look around it and fell in love with it, really.
0:08:52 > 0:08:54Jason, what's your involvement in this?
0:08:54 > 0:08:58I'm going to be doing most of the manual work around the place,
0:08:58 > 0:09:02like stripping walls and redoing the room over there.
0:09:02 > 0:09:04What do you think of the house?
0:09:04 > 0:09:05I think it's great.
0:09:05 > 0:09:08It certainly is a great end of terrace house.
0:09:08 > 0:09:13Jason's dad, Rob, will also work on the renovation.
0:09:13 > 0:09:14He's a builder and a renovator,
0:09:14 > 0:09:18and has been for a lot of years, so, he's an expert, really.
0:09:18 > 0:09:21So, he's going to be running the project,
0:09:21 > 0:09:24and I will be project managing alongside him.
0:09:24 > 0:09:27As it's something that's quite new for me,
0:09:27 > 0:09:29- then I intend to learn from him, really.- Great.
0:09:29 > 0:09:32And, of course, Jason will be doing a lot of the work.
0:09:32 > 0:09:35Yes, done a college course in bricklaying.
0:09:35 > 0:09:38I've done a lot of renovations already, like three or four.
0:09:38 > 0:09:42Um, mainly on new builds, but I've done a few like this before.
0:09:42 > 0:09:45It's ideal that Sue can learn about property developing
0:09:45 > 0:09:48from people she knows and trusts.
0:09:48 > 0:09:52Rob's experience tells him those cracks are likely to be superficial,
0:09:52 > 0:09:53and easily fixed.
0:09:53 > 0:09:56As for Sue's own work as a nurse,
0:09:56 > 0:09:59she's in a good position, time wise, to do this project,
0:09:59 > 0:10:02as she went part-time 18 months ago.
0:10:05 > 0:10:09Sue's done up and extended her own homes in the past.
0:10:09 > 0:10:13But this house is a much bigger project than any she's handled before.
0:10:15 > 0:10:19Luckily, Sue's partner Rob has years of building experience,
0:10:19 > 0:10:22and a whole team of skilled workmen will help on-site.
0:10:24 > 0:10:27So, what's the idea for it then?
0:10:27 > 0:10:31Is it buy it, do it up and sell it? Or are you going to keep it and rent it?
0:10:31 > 0:10:33We're going to do it up,
0:10:33 > 0:10:36and have it looking really nice as a family home.
0:10:36 > 0:10:38Then we intend to sell it.
0:10:38 > 0:10:42Hopefully, I'll make a profit on it and then put that towards another project.
0:10:42 > 0:10:46Talk me through, Jason, what you are going to do to help sort it out?
0:10:46 > 0:10:50- What you think needs to be done? - I think it all needs re-skimming.
0:10:50 > 0:10:53All the electrics and plumbing needs to go through again.
0:10:53 > 0:10:57Doors and windows all get re-changed. UPVC put in.
0:10:57 > 0:11:00And just bring it up to standard.
0:11:00 > 0:11:06There's three reception rooms. So, one of the reception rooms, I want to turn that into the kitchen,
0:11:06 > 0:11:09because the kitchen as it is now is very tiny.
0:11:09 > 0:11:13What I also intend to do is, the adjacent reception room,
0:11:13 > 0:11:17I'd like to turn that into a dining room, and incorporate the two,
0:11:17 > 0:11:21as kitchen-dining rooms do tend to be the fashion.
0:11:21 > 0:11:27- We're not quite sure how to do that. But we're working on that one, aren't we, Jason?- Yes.
0:11:27 > 0:11:30Sue's hoping to put a downstairs toilet and shower room
0:11:30 > 0:11:34at the end of the utility room in the old outbuildings.
0:11:34 > 0:11:39I'm delighted that she hopes to keep as many of the period features as possible.
0:11:39 > 0:11:42How much money have you got set aside to do the work?
0:11:42 > 0:11:48We're hoping £20,000-£25,000 will cover the costs.
0:11:48 > 0:11:53- And we want to perhaps try and get this finished in three months.- Wow.
0:11:53 > 0:11:58- How's it going to work financially? Are you going to be paid for doing it?- Yes, I believe so!
0:11:58 > 0:12:01- Yes, he will.- I hope so!
0:12:01 > 0:12:06- Congratulations, good luck with it, we look forward to seeing how you get on.- Thank you very much.- Cheers.
0:12:06 > 0:12:13Well, it's great that Sue has got the opportunity to realise her dream of becoming a property developer.
0:12:13 > 0:12:18And equally good that she's got Jason and partner, Rob, to help her.
0:12:18 > 0:12:21However, it's not always that easy.
0:12:21 > 0:12:24And I'm sure there will be challenges to face.
0:12:24 > 0:12:27Not least, selling the property once it's done.
0:12:27 > 0:12:31How will she get on? We can find out later in the show.
0:12:34 > 0:12:38I'm in Sevenoaks in Kent today where novelist Jane Austen had close family links.
0:12:38 > 0:12:42Her relatives owned a house in the town where Jane was known to have stayed,
0:12:42 > 0:12:45and some say much of her inspiration came from Kent.
0:12:45 > 0:12:49Today's auction lot definitely isn't fictitious,
0:12:49 > 0:12:52and I know for a fact it is a best seller.
0:12:52 > 0:12:56But even though it's second-hand, I'm afraid I can't promise discounted prices.
0:12:56 > 0:12:59Here's hoping it's prize-worthy.
0:12:59 > 0:13:02'OK, enough literary wordplay.
0:13:02 > 0:13:05'But Sevenoaks certainly has heritage, and is also a bit of a commuter hotspot,
0:13:05 > 0:13:10'due to its excellent transport connections into London.'
0:13:13 > 0:13:17Although the property's postal address is Sevenoaks,
0:13:17 > 0:13:22it's actually eight miles from the town, in a pretty village called St Mary's Platt.
0:13:22 > 0:13:25Now, it's a popular alternative to central Sevenoaks
0:13:25 > 0:13:27because property is much cheaper.
0:13:27 > 0:13:33A four-bedroom house in Sevenoaks could command as much as £550,000.
0:13:33 > 0:13:39The same property here had a guide of just £225,000-£245,000.
0:13:42 > 0:13:46With off-street parking and its own garage, things look promising so far.
0:13:46 > 0:13:49'A mock Tudor frontage isn't for everyone,
0:13:49 > 0:13:53'but I've got faith in the potential here, given its general conditions so far.'
0:13:53 > 0:13:56This house was built in the '80s.
0:13:56 > 0:13:59About that time, I was wearing leggings, had big hair
0:13:59 > 0:14:02and was kissing George Michael posters. But enough of that!
0:14:02 > 0:14:06You can really see the old-fashioned styles of this property.
0:14:06 > 0:14:10Lots of thin walls. And the kitchen is a real disappointment.
0:14:10 > 0:14:14You'd expect something a lot bigger for a house like this.
0:14:14 > 0:14:19But it does have a big, open feel. You've got a reception room there.
0:14:19 > 0:14:20A nice-sized toilet.
0:14:20 > 0:14:24And this wonderful space. You've got loads of light coming in.
0:14:24 > 0:14:28You can see it does need a makeover. There's a couple of options here.
0:14:28 > 0:14:30You could come in, and you could tosh it up,
0:14:30 > 0:14:33spend around £10,000, making good of what you see.
0:14:33 > 0:14:36Because, as auction properties go, it's not that bad.
0:14:36 > 0:14:39Or, you could go crazy like I would,
0:14:39 > 0:14:42and think about ripping the kitchen out of there,
0:14:42 > 0:14:47and turning the whole layout around, and having your kitchen area at the back here.
0:14:47 > 0:14:50You could even then think about taking some of this wall out,
0:14:50 > 0:14:56having big lovely bi-fold doors there so you can really get a full whacking view of that garden.
0:14:56 > 0:14:59You've got to think how much that's going to cost relocating pipes,
0:14:59 > 0:15:03putting all of that, installing drainage and everything in this room.
0:15:03 > 0:15:04I think it would look fantastic,
0:15:04 > 0:15:08you've just got to work it out and see if the maths work.
0:15:08 > 0:15:11# You bet! If you're gonna do it, Do it right! Right?
0:15:11 > 0:15:13# Do it with me. #
0:15:13 > 0:15:17'If money was no object or this was going to be a forever home,
0:15:17 > 0:15:21'going to town on the layout could be a real hit.'
0:15:21 > 0:15:24'But you'd have to dig deep into the pockets of those stonewashed jeans!'
0:15:25 > 0:15:30At least with this property, you haven't got to worry about any structural work or extensions.
0:15:30 > 0:15:33In fact, up here, it's pretty good to go.
0:15:33 > 0:15:37You've got four decent-sized bedrooms, a nice family bathroom.
0:15:37 > 0:15:42And you have got a really good space in there, which is the master room, with an en suite.
0:15:42 > 0:15:44So, looking good so far.
0:15:44 > 0:15:47All I'd do is, perhaps, get into the groove
0:15:47 > 0:15:49and change this '80s decor.
0:15:49 > 0:15:52# Get into the groove, boy
0:15:52 > 0:15:58# You've got to prove Your love to me. Yeah. #
0:15:58 > 0:16:02'I'd definitely think about ripping out that bathroom.
0:16:02 > 0:16:06'And I'd probably replace the en suite while I was at it.
0:16:06 > 0:16:10'Outside, the garden may be a bit on the steep side.
0:16:10 > 0:16:13'But that patio would be great for chilling out of an evening.'
0:16:15 > 0:16:17So, the garden comes with its awkwardness.
0:16:17 > 0:16:21There's the slope, and there's certainly not enough room to kick a football there.
0:16:21 > 0:16:23But don't get too down about it.
0:16:23 > 0:16:27Because look, there's plenty of room here!
0:16:27 > 0:16:32And it's right on your doorstep! Fantastic.
0:16:32 > 0:16:37- # Gold!- Gold! - Always believe in your soul. #
0:16:37 > 0:16:42'I think we might have struck gold with that communal playing field, and this lovely property.
0:16:43 > 0:16:48'The auction guide price was £225,000-£245,000.
0:16:48 > 0:16:51'We asked a local estate agent for his thoughts on the place.'
0:16:54 > 0:16:57It's a great house, being detached, four bedrooms.
0:16:57 > 0:16:59Obviously, there's work to do.
0:16:59 > 0:17:03But that means it's a blank canvas for the owners,
0:17:03 > 0:17:05and they can make it more modern.
0:17:05 > 0:17:07'Is this a good rental proposition?'
0:17:07 > 0:17:12The amount it would be rented out per calendar month would be about £1,500.
0:17:12 > 0:17:15'What about the resale market?'
0:17:15 > 0:17:20When renovated, I would want to put it on the market at £399,950.
0:17:22 > 0:17:24You've got two options here.
0:17:24 > 0:17:28You could spend as little as possible, and leave the layout as it is.
0:17:28 > 0:17:33Or you could go all out, completely change the space,
0:17:33 > 0:17:37spend some dosh, and make it into a home that you really want to live in.
0:17:38 > 0:17:41I wonder what the new owner will do?
0:17:41 > 0:17:45Let's see who took the plunge, as we go to auction.
0:17:45 > 0:17:49And now we go to Platt near Sevenoaks.
0:17:49 > 0:17:52It's a modern detached house for improvement.
0:17:52 > 0:17:56It's here to be sold. 225, can I say?
0:17:56 > 0:17:59Give me 200 then and you wouldn't be wasting your time.
0:17:59 > 0:18:01200 I have. 210 if you wish? 210.
0:18:01 > 0:18:05At 210? 220. 230. 230?
0:18:05 > 0:18:09230. 235 I'll take if you like. 235.
0:18:09 > 0:18:11240. 245, sir?
0:18:11 > 0:18:14245 on the wall? Because I took the other ones first.
0:18:14 > 0:18:16But if not, 245 anywhere else?
0:18:16 > 0:18:19245 in the middle. And 250 now, do I see?
0:18:19 > 0:18:23250 do I see? 250 at the back. 255 I'm looking for. 255.
0:18:23 > 0:18:25And 60?
0:18:25 > 0:18:29260 if you wish? 260. And five.
0:18:29 > 0:18:32265. And 70?
0:18:32 > 0:18:35270. And five?
0:18:35 > 0:18:37Are we all done at 270? 275.
0:18:37 > 0:18:41And 80? 280.
0:18:41 > 0:18:45At £275,000 then. By the door on my left I have.
0:18:45 > 0:18:48280 I'm bid. 285 it's now against you.
0:18:48 > 0:18:50285 do I see? 285 I've got. 290.
0:18:50 > 0:18:55290? 290. And five?
0:18:55 > 0:18:58295? At £290,000 I have.
0:18:58 > 0:19:01Five I'm looking for. For the first time.
0:19:01 > 0:19:04£290,000 bid, if you're all finished for the second time.
0:19:04 > 0:19:08Third and final time. Are we all done at £290,000?
0:19:08 > 0:19:10To the lady sitting down. All done?
0:19:10 > 0:19:13290, what a lovely smile.
0:19:13 > 0:19:15'No wonder she's smiling.
0:19:15 > 0:19:19'Medical student Clara attended the auction with her counsellor mum Anne
0:19:19 > 0:19:24'and she's just spent £290,000 of her mum's money.'
0:19:26 > 0:19:27# Here come the girls!
0:19:27 > 0:19:32# Girls! Girls! Girls, girls! #
0:19:32 > 0:19:38'I caught up with them back at the house, and the good news is that they're still smiling.'
0:19:38 > 0:19:41Girls, congratulations. I'm so excited to hear the story
0:19:41 > 0:19:44and why you wanted to buy this. Anne?
0:19:44 > 0:19:46Well, I hadn't planned to buy this at all.
0:19:46 > 0:19:50I am one of those people who had no intention of coming here,
0:19:50 > 0:19:55no intention of buying this house, no, didn't look at it before I came.
0:19:55 > 0:20:00One of those... We drove up literally the night before.
0:20:00 > 0:20:05Looked outside. And I thought, this looks OK, let's go to the auction and see what happens.
0:20:05 > 0:20:10Clara, were you with your mum? And did she just do this on the spur of the moment?
0:20:10 > 0:20:14Yeah, she's one of those sorts of people. We did literally just drive outside.
0:20:14 > 0:20:18We went to the auction. About five minutes before the lot came up, she went,
0:20:18 > 0:20:21"Oh, my gosh, I'm too scared to do it, you bid, you bid!"
0:20:21 > 0:20:24So I was pushed into doing it. But it was good fun.
0:20:24 > 0:20:27Anne, tell me about yourself, what do you do day-to-day?
0:20:27 > 0:20:32I run a children's counselling service across West Kent,
0:20:32 > 0:20:35which is severely under threat at the moment.
0:20:35 > 0:20:41So I guess one of my thoughts with this is I need another string to my bow.
0:20:41 > 0:20:44This is a bow that interests me,
0:20:44 > 0:20:47so I'm waiting to see, really, whether this might become a full-time occupation
0:20:47 > 0:20:52or whether I need to think about something else as well.
0:20:54 > 0:20:57'If she is going to make a career of it,
0:20:57 > 0:21:01'Anne might be wise to get into the habit of viewing properties before buying them at auction!'
0:21:01 > 0:21:06'But this time, it looks like she's lucked out.'
0:21:06 > 0:21:09It was 100% better than I thought. I was in the car, and I thought,
0:21:09 > 0:21:13"Oh, my God, this is going to be a tip, what have I done?"
0:21:13 > 0:21:17I was very, very favourably impressed. I thought, "Wow, this is fine.!
0:21:17 > 0:21:20What about the price you paid at auction?
0:21:20 > 0:21:22Well, we did go over, probably...
0:21:22 > 0:21:25I set a price, I'm not so stupid.
0:21:25 > 0:21:30I did look at six o'clock in the morning at what the other values were.
0:21:30 > 0:21:33I set a price. I said we're not going to go over 280.
0:21:33 > 0:21:39- We get to 280 and I think, we're just going to go up a bit more.- She went, keep going up, keep going up!- Yeah.
0:21:39 > 0:21:44They ended up spending £290,000 on the property.
0:21:44 > 0:21:4845 grand over the upper guide price.
0:21:48 > 0:21:54Anne has a budget of between £10,000 and £15,000, so what's the plan?
0:21:54 > 0:21:58Change the bathrooms, change the kitchen,
0:21:58 > 0:22:04change the obvious things. Paint it. But I think the layout downstairs worries me.
0:22:04 > 0:22:07So I think there needs to be some changes downstairs.
0:22:07 > 0:22:13And what will be different about that is, you know, can I afford to do that sensibly?
0:22:13 > 0:22:16Is this going to be a joint effort for you two, mother and daughter?
0:22:16 > 0:22:22Is it going to be putting your gorgeous heads together and working some magic on this property?
0:22:22 > 0:22:24- Sounds about right. - Sounds about right.
0:22:24 > 0:22:26Clara, tell me what your involvement is going to be?
0:22:26 > 0:22:30I've got a massive summer off from university.
0:22:30 > 0:22:32I have no money. And Mum said,
0:22:32 > 0:22:37"If you sit in the house and sort out the painting and decorating, I'll help you out with some money."
0:22:37 > 0:22:41- So it works for both of us. - Would you like to call yourself a project manager?- Yeah!
0:22:41 > 0:22:46- I'd like to call myself a project manager. Why not?- Initially, that's what it'll be.- Yeah.
0:22:46 > 0:22:50It's going to be dealing with a lot of... It doesn't need a lot of structural work, we don't think.
0:22:50 > 0:22:56So hopefully, it will just be dealing with decorating, and refitting, things like that.
0:22:56 > 0:23:00'Clara will be living on site during her university holidays.
0:23:00 > 0:23:03'They hope to turn the property around in four months and live there
0:23:03 > 0:23:05'before deciding what to do with it.
0:23:05 > 0:23:08'I just hope Clara can resist the temptation
0:23:08 > 0:23:12'to have those '80s-style parties before work commences.'
0:23:12 > 0:23:15# Everybody cut footloose! #
0:23:16 > 0:23:19Clara, will you just be project managing and overseeing,
0:23:19 > 0:23:23or do you think there's any chance, Anne, that she might get stuck in and do some work?
0:23:23 > 0:23:27It'll be a good experience. There's nothing like getting your hands dirty
0:23:27 > 0:23:32- to understand how much it actually takes to do something.- I will be definitely getting my hands dirty,
0:23:32 > 0:23:36I can't wait to get the paint out and start getting the walls looking good.
0:23:36 > 0:23:39Girls, good luck with this project. Clara, I hope you do well in your role.
0:23:39 > 0:23:44And Anne, next time, maybe a little bit more research might pay off. But well done.
0:23:44 > 0:23:47And I can't wait to see how it turns out.
0:23:47 > 0:23:49- Thank you.- Thank you.
0:23:49 > 0:23:52I think it's great to be spontaneous.
0:23:52 > 0:23:54But spontaneous house-buying?
0:23:54 > 0:23:57Anne is a brave lady.
0:23:57 > 0:23:59Luckily for her, this looks like it's a good buy
0:23:59 > 0:24:02and with focused Clara on hand to help, well,
0:24:02 > 0:24:05I'm sure she'll turn this place around in four months.
0:24:05 > 0:24:08But will she do the work for just £10,000?
0:24:08 > 0:24:11And will they relocate that kitchen? I hope so.
0:24:11 > 0:24:16You can find out what happens later on in the programme.
0:24:17 > 0:24:21'Coming up, this semi in Cardiff is very long and narrow.'
0:24:22 > 0:24:26And it goes on and on, and on!
0:24:27 > 0:24:31'We're returning to Kent, where decorating this house has been a breath of fresh air.'
0:24:33 > 0:24:36The first day I thought, "This is going to be a breeze, painting every day."
0:24:38 > 0:24:40'But first, in Lincolnshire,
0:24:40 > 0:24:44'has it all gone smoothly for Sue and Jason?'
0:24:44 > 0:24:46- It's been good, hasn't it? - Yeah.- Yeah. We've enjoyed it.
0:24:51 > 0:24:56'We return now to Lincoln, where, earlier in the programme, Sue had bought
0:24:56 > 0:25:01'this imposing double-fronted property for £123,000.'
0:25:02 > 0:25:07'It had some damp, and a very nasty crack.'
0:25:07 > 0:25:09'Sue's a part-time nurse,
0:25:09 > 0:25:16'and her stepson Jason was going to do the work with his dad and Sue's partner, Rob.'
0:25:16 > 0:25:19He's a builder and renovator, and has been for a lot of years.
0:25:19 > 0:25:23So he's an expert. So he's going to be running the project.
0:25:23 > 0:25:26And I'll be project managing alongside him.
0:25:26 > 0:25:31- And of course, Jason will be doing a lot of the work.- Yeah. I've done my college course in bricklaying.
0:25:31 > 0:25:34I've done a lot of renovations already, done three or four.
0:25:34 > 0:25:36'Sue had set a three-month timescale,
0:25:36 > 0:25:41'and was going to sell the house once the refurbishment was finished.
0:25:41 > 0:25:45'Three and a half months had passed when we met up with Sue and Jason again.
0:25:50 > 0:25:54'And the Victorian house is finished.
0:25:54 > 0:25:58'Replacement double glazed sash windows have been installed, and a new door.
0:25:58 > 0:26:02'The left-hand living room, as you look from the street,
0:26:02 > 0:26:05'has retained the fireplace, and been tastefully decorated.'
0:26:08 > 0:26:13'The wall to the living room on the other side of the hall has been opened up.
0:26:13 > 0:26:16'The dry rot in the corner has been repaired.
0:26:16 > 0:26:19'Plus, there's an opening in the wall that lets you see
0:26:19 > 0:26:23'into the room behind, which is now an impressive kitchen.'
0:26:30 > 0:26:33In here, it was a reception room,
0:26:33 > 0:26:38but now we've made this into a kitchen. The original kitchen was really small.
0:26:38 > 0:26:43We've opened out this area, so the kitchen now flows through into the dining room
0:26:43 > 0:26:46which is nice - when people are in the dining room,
0:26:46 > 0:26:49they can interact with people in the kitchen.
0:26:49 > 0:26:51We've had a bespoke kitchen built.
0:26:51 > 0:26:54That's so that we can make use of all the space that we've got.
0:26:54 > 0:26:59I chose this colour because it works well with the cream of the cupboards
0:26:59 > 0:27:03and it makes it quite a warm room as well.
0:27:03 > 0:27:08'The former pantry next to the stairs has had the wall removed.
0:27:08 > 0:27:12'A new window's been installed and it's now valuable extra storage space.
0:27:12 > 0:27:15'Sue's partner Rob project managed the refurbishment,
0:27:15 > 0:27:18'and his son Jason did a lot of the work.'
0:27:19 > 0:27:23I helped wallpaper strip from start to finish.
0:27:23 > 0:27:27I did a lot of the breaking down of the walls,
0:27:27 > 0:27:30and bricking them up. Put all the lintels in.
0:27:30 > 0:27:36In the previous kitchen, we knocked through into the sheds, and converted that into a downstairs toilet.
0:27:36 > 0:27:40'The tiny original kitchen is now a utility room.
0:27:42 > 0:27:46'The courtyard garden has been turfed, and the wall painted.
0:27:46 > 0:27:52'Upstairs, the new windows and radiators policy continues in the back bedroom.
0:27:52 > 0:27:55'And a very classy bathroom's been installed.'
0:28:06 > 0:28:08# Crack me up! #
0:28:08 > 0:28:12'And there was good news about the crack in the front bedroom.
0:28:12 > 0:28:17'Sue's partner Rob checked it out and deemed it structurally sound.
0:28:17 > 0:28:20'It was wired up so that it wouldn't get any worse.'
0:28:21 > 0:28:24And in here is the master bedroom.
0:28:24 > 0:28:31I've painted it pink and a purpley colour because it gives the room a really warm feel
0:28:31 > 0:28:33and I'm really pleased with how it's turned out.
0:28:33 > 0:28:37As well as the downstairs one, this is the second original fireplace.
0:28:37 > 0:28:40The surrounding was originally pink,
0:28:40 > 0:28:44but now I've painted that white, so it really stands out from the wall.
0:28:44 > 0:28:47And then, just here, we've had an en suite built,
0:28:47 > 0:28:49so I'm pleased with that.
0:28:49 > 0:28:53Jason had help from qualified tradesmen for the plumbing, rewiring
0:28:53 > 0:28:58and plastering, and picked up some useful tips himself, as well.
0:28:58 > 0:29:00This was a good learning curve.
0:29:00 > 0:29:04I learned a lot more than I did in my previous working places.
0:29:04 > 0:29:07There's always something new on renovations,
0:29:07 > 0:29:11compared to new-builds. It's just things you have to overcome.
0:29:11 > 0:29:14Sometimes you have to think outside the box,
0:29:14 > 0:29:16or should that be the paint can, in this case?
0:29:16 > 0:29:20The red tiles in the living room fireplace had been chipped,
0:29:20 > 0:29:25but Sue discovered her nail polish was a perfect match.
0:29:25 > 0:29:28So, has she managed to keep to her budget?
0:29:30 > 0:29:34I spent £123,000 at auction.
0:29:34 > 0:29:39I was thinking £25,000-£30,000, and it's come nearer to the £30,000,
0:29:39 > 0:29:44but that includes the solicitors' fees, so I'm happy with that.
0:29:44 > 0:29:49Sue plans to sell the house and has dressed it with plants and pictures
0:29:49 > 0:29:54to help create a homely feel that she hopes will attract a buyer.
0:29:54 > 0:29:57Her 30 grand budget, added to the purchase price at auction,
0:29:57 > 0:30:01means she has spent a total of £153,000 here.
0:30:04 > 0:30:08Time to see what two local estate agents think of the place.
0:30:08 > 0:30:12My first impression of the property is, it's a superb home,
0:30:12 > 0:30:15a job very well done, excellent renovation and a prime location.
0:30:15 > 0:30:17It wasn't what I was expecting at all.
0:30:17 > 0:30:22I think they've managed to transform
0:30:22 > 0:30:24a simple Victorian bay-fronted house
0:30:24 > 0:30:27into something quite striking and contemporary.
0:30:27 > 0:30:31I particularly like what might have been termed as the "service hatch"
0:30:31 > 0:30:33from the kitchen to the dining room,
0:30:33 > 0:30:35where they've just squared it off and opened it up,
0:30:35 > 0:30:38and allowed lots of light into the room.
0:30:38 > 0:30:40The only disadvantage of this property would be
0:30:40 > 0:30:41the lack of off-road parking.
0:30:41 > 0:30:44But I wouldn't expect that to affect the saleability.
0:30:44 > 0:30:47Good news for Sue, but what about the rental opportunity,
0:30:47 > 0:30:50if she changed her mind or found it hard to sell?
0:30:50 > 0:30:53I would imagine that this property would rent
0:30:53 > 0:30:57for somewhere in the region of £675-£700 per calendar month.
0:30:57 > 0:30:59In my opinion, the property would achieve
0:30:59 > 0:31:03somewhere in the region of £700-£750 per calendar month.
0:31:03 > 0:31:08- That's good, I'm pleased with that. - Yeah. That's good.
0:31:08 > 0:31:10I haven't gone into it, particularly,
0:31:10 > 0:31:13because we're going to be selling it.
0:31:14 > 0:31:18Those valuations would give Sue a yield of between 5% and 6%,
0:31:18 > 0:31:21but what could it make in that all-important resale market,
0:31:21 > 0:31:26bearing in mind her total outlay of £153,000?
0:31:28 > 0:31:32I would value this property in the region of £190,000.
0:31:32 > 0:31:34My valuation for this property would be
0:31:34 > 0:31:36between £180,000-£190,000 on the open market.
0:31:36 > 0:31:42Based on those valuations, of between 180-190 grand,
0:31:42 > 0:31:45Sue could make a gross profit of between 27,000-37,000.
0:31:49 > 0:31:52Right, I've thought a little bit more than that.
0:31:52 > 0:31:56I was thinking more around the 200.
0:31:56 > 0:31:57Well, we'll see.
0:31:59 > 0:32:02Well, maybe not quite the valuations she'd hoped for.
0:32:04 > 0:32:08After three months work, does Jason think the project's been worthwhile?
0:32:09 > 0:32:13Yeah, I think it's been a success, a huge success, from start to finish.
0:32:13 > 0:32:17I think it's been a success as well. I really enjoyed the experience.
0:32:17 > 0:32:20- I would do it again. It's been good, hasn't it?- Yeah.
0:32:20 > 0:32:21Yeah, we've enjoyed it.
0:32:23 > 0:32:27Well, I'm just a few miles from the centre of Cardiff
0:32:27 > 0:32:29in an area called Kingcoed.
0:32:29 > 0:32:33Now, this is one of the most affluent suburbs and, in fact,
0:32:33 > 0:32:36property prices here are some of the highest in Wales,
0:32:36 > 0:32:39so, it won't be any surprise to discover
0:32:39 > 0:32:42that houses here often sell for over a million quid.
0:32:42 > 0:32:46The area saw lots of development in the early 20th century,
0:32:46 > 0:32:49when Cardiff was expanding rapidly.
0:32:49 > 0:32:53They certainly went to town on some of the properties around here.
0:32:53 > 0:33:01# Remember anyone can be a millionaire... #
0:33:01 > 0:33:05The property I'm here to see is at the other end of Millionaires' Row,
0:33:05 > 0:33:10and came with the not quite so hefty guide price of £229,000.
0:33:10 > 0:33:14So, what did that get you for your money? Well, basically, this.
0:33:14 > 0:33:19It's a four bed semi-detached. Looks a little bit tired on the outside.
0:33:19 > 0:33:21Let's see what it's like inside.
0:33:21 > 0:33:24It's an imposing house with a big front garden,
0:33:24 > 0:33:29but rotten woodwork, and the front elevation needs a paint job.
0:33:29 > 0:33:33I'm not sure it's much of a bargain just yet,
0:33:33 > 0:33:36but this one is all about its location.
0:33:38 > 0:33:43I've got Great Expectations. Would it be a Dickens of a mess, though?
0:33:43 > 0:33:45Let's find out.
0:33:45 > 0:33:48Love the parquet floor, and there's a nice entrance area here.
0:33:48 > 0:33:51Stairs up to your bedrooms.
0:33:51 > 0:33:54Front sitting room, again, that parquet floor continues
0:33:54 > 0:33:57and cleaned up, that would be absolutely beautiful.
0:33:57 > 0:33:59You've got a rear sitting room.
0:33:59 > 0:34:02And this is where it gets really interesting.
0:34:02 > 0:34:06Because we come into the kitchen. And it goes on and on and on.
0:34:06 > 0:34:11Look at this! It's massive! It's not an ideal layout.
0:34:12 > 0:34:16This wall here, it's too narrow to put a set of cupboards here,
0:34:16 > 0:34:19so you'd probably end up putting a small table here, and then
0:34:19 > 0:34:22it would be in the wrong place for a sink. So, in a nutshell,
0:34:22 > 0:34:24the layout doesn't work,
0:34:24 > 0:34:26but in terms of space to play with, fantastic.
0:34:26 > 0:34:32It needs a complete refit and there is a leaking roof to investigate,
0:34:32 > 0:34:34but it's a whopping long kitchen,
0:34:34 > 0:34:38and if you knocked through to the equally long rear sitting-room,
0:34:38 > 0:34:41you would have a ginormous area to work with,
0:34:41 > 0:34:43which could open out onto the garden.
0:34:46 > 0:34:50But I think I'd keep the front living room separate.
0:34:50 > 0:34:53It's got great ceiling height and that lovely bay window.
0:34:53 > 0:34:59So, what's on offer on the first floor of this house that was guided at £229,000?
0:35:01 > 0:35:06So, upstairs, some nice original features, like those stained-glass windows.
0:35:06 > 0:35:10Be nice to keep those, although something tells me they'd go in any refurbishment.
0:35:10 > 0:35:13Bathroom there, reasonable size - it's got a shower
0:35:13 > 0:35:15and a bath, but very dated.
0:35:15 > 0:35:19You could have some fun with that, though. Bedroom at the back.
0:35:19 > 0:35:26Second bedroom there. Third bedroom there, but then, there's a surprise.
0:35:27 > 0:35:32Because a set of stairs takes you up to a dormer.
0:35:32 > 0:35:35I got very excited that that concept. Absolutely fantastic.
0:35:35 > 0:35:38And then you actually come up here and you think,
0:35:38 > 0:35:42what on earth was whoever built this thinking?
0:35:42 > 0:35:47Because you've got a dormer on the rear and the front of the property.
0:35:47 > 0:35:50That - I'm amazed it's got planning permission, because
0:35:50 > 0:35:55normally, they're sensitive about dormers on the front when there's very few in the road.
0:35:55 > 0:35:59The natural place for a dormer, for me, would be next door, so you could have one there.
0:35:59 > 0:36:03Then, they've got this cupboard in the middle, so where would you put a bed?
0:36:03 > 0:36:05As a space, it just doesn't work.
0:36:05 > 0:36:09So, I think, what you're going to have to do, if you want to use this
0:36:09 > 0:36:12as a proper room, get rid of those two dormers,
0:36:12 > 0:36:15get a dormer in there, maybe change the staircase location
0:36:15 > 0:36:20and then you really have got what could be a spectacular room.
0:36:21 > 0:36:29# So tell me if, you want to see A world outside your window #
0:36:29 > 0:36:31This property, guided at £229,000,
0:36:31 > 0:36:33was described as a four-bedroomed house,
0:36:33 > 0:36:38but I'm going to reclassify it as a three-bed with a loft room.
0:36:41 > 0:36:45From the back garden, you can see the neighbouring properties
0:36:45 > 0:36:51have got side and rear dormer windows, so that's the way to go.
0:36:51 > 0:36:54But what does a local estate agent think about the house,
0:36:54 > 0:36:58situated at the cheaper end of this expensive road?
0:37:02 > 0:37:07When I entered the kitchen, although it's very long, I did note that,
0:37:07 > 0:37:10at the far end, the wall is single brick and dry-lined,
0:37:10 > 0:37:15so that's going to be a cold kitchen, so something needs to be done to bring it into the cavity.
0:37:15 > 0:37:18So, a warning about the ground floor.
0:37:18 > 0:37:21But what about that loft extension?
0:37:21 > 0:37:25It looks as though most of the building regulations
0:37:25 > 0:37:30could have been complied with in regard to the risers for the staircase, head height,
0:37:30 > 0:37:34and this has to be confirmed by the planning department,
0:37:34 > 0:37:38or a structural engineer, chartered surveyor to check and measure,
0:37:38 > 0:37:39basically, what's here.
0:37:39 > 0:37:42Once the property's been renovated
0:37:42 > 0:37:47and kept as a four-bedroomed house, how much could it be worth, if sold?
0:37:48 > 0:37:52Assuming that it is going to be a fourth bedroom,
0:37:52 > 0:37:56the value range here would be in the region of £325,000.
0:37:56 > 0:37:59What's the potential rental income here,
0:37:59 > 0:38:04as a three-bedroomed or four-bedroomed property?
0:38:04 > 0:38:07If this property was a three-bedroomed property,
0:38:07 > 0:38:10it would be in the region of £900 per calendar month.
0:38:10 > 0:38:12If it was classified as a fourth bedroom,
0:38:12 > 0:38:14then possibly £1,000 per calendar month,
0:38:14 > 0:38:16but there would be a proviso that
0:38:16 > 0:38:21an en suite, shower room, facilities, should be considered for the attic.
0:38:21 > 0:38:26Well, what you've got here is a house that's not without its problems.
0:38:26 > 0:38:30That dormer, the extension on the back, the general layout,
0:38:30 > 0:38:32but all those things, you can forget about them,
0:38:32 > 0:38:36because, really, what you're buying here is the location,
0:38:36 > 0:38:38and you can't fault that.
0:38:38 > 0:38:41I'm sure it was a very popular lot at the auction.
0:38:41 > 0:38:45Number 26, this has been a popular lot, two reception rooms,
0:38:45 > 0:38:47kitchen-diner, shout me a bid.
0:38:47 > 0:38:53Looking for 235. 230? 225, 225 to get things moving.
0:38:53 > 0:38:58OK, 225 is bid here, 225. 226, standing at the back, thank you.
0:38:58 > 0:39:03227, thank you, 227. 228, thank you, at the back. 228? 229.
0:39:03 > 0:39:05230, thank you, standing.
0:39:05 > 0:39:07231, seated.
0:39:07 > 0:39:11232, thank you, yes, that's you.
0:39:11 > 0:39:12233, thank you.
0:39:12 > 0:39:15Can I take 234 off you? 234.
0:39:15 > 0:39:19235, thank you. 235 is bid.
0:39:19 > 0:39:21236, thank you. 236. 237.
0:39:21 > 0:39:25238. I'm looking for 239,000.
0:39:25 > 0:39:29239 will you give me half? 238.5 is bid.
0:39:29 > 0:39:33Thank you, 239. Any advance on 239?
0:39:33 > 0:39:36I will be selling at 239,000, if there's no increase.
0:39:36 > 0:39:41It's on you, sir, at 239. Any advance on 239? Be quick. Thank you.
0:39:43 > 0:39:48That final successful bid of £239,000 was made by Jeff.
0:39:48 > 0:39:50He's one of eight brothers,
0:39:50 > 0:39:54two of whom he's in a property developing partnership with.
0:39:54 > 0:39:58Together, the company owns around 120 buy-to-lets.
0:39:58 > 0:40:01His brother, Terry, who I'm meeting at this purchase,
0:40:01 > 0:40:04has been on the show before, when he and his brothers bought
0:40:04 > 0:40:08another Cardiff property for their buy-to-let portfolio.
0:40:08 > 0:40:12Time to find out what Terry and his brothers have in mind for this one.
0:40:16 > 0:40:19Terry, good to see you again. How are you?
0:40:19 > 0:40:21Yeah, fine, thank you very much.
0:40:21 > 0:40:24So, how's the property we saw you in last time?
0:40:24 > 0:40:28Um, it's been occupied two or three days afterwards
0:40:28 > 0:40:30and we've never been back since.
0:40:30 > 0:40:32The tenants have still got it.
0:40:32 > 0:40:35So, moving on to this property, why did you want to buy it?
0:40:35 > 0:40:38Well, you wouldn't very often get a property like this,
0:40:38 > 0:40:40in an auction, in this type of area.
0:40:40 > 0:40:44Normally, they are on the market and sold within weeks of coming on the market.
0:40:44 > 0:40:48So, why do you think it maybe didn't sell for more?
0:40:48 > 0:40:52Couple of reasons. First, the dormer.
0:40:52 > 0:40:57There would be plans for that, but it hasn't got any building regs,
0:40:57 > 0:41:01and possibly, the extension here, this wouldn't pass the building regs.
0:41:01 > 0:41:06So perhaps they decided just to chuck it in auction. And just get it sold.
0:41:06 > 0:41:09All these reasons mean that the place was unlikely
0:41:09 > 0:41:13to be mortgageable, but, as Terry was able to purchase it
0:41:13 > 0:41:17with capital from his company, this put him in a strong position.
0:41:17 > 0:41:21With only cash buyers bidding, the limited number of bidders kept the price low.
0:41:21 > 0:41:24But now Terry's got a job on his hands.
0:41:28 > 0:41:31OK, so, tell me exactly what you're going to do to sort it out.
0:41:31 > 0:41:36Start with the kitchen. We're going to take the wall out, have one large kitchen.
0:41:36 > 0:41:39Patio doors across the back.
0:41:39 > 0:41:43We're going to leave the one front room as it is, and just have one
0:41:43 > 0:41:47large room here, obviously revamp it all, new kitchen, new windows.
0:41:47 > 0:41:51We'll just do the whole work downstairs, yeah.
0:41:51 > 0:41:52And then, moving upstairs?
0:41:52 > 0:41:57Initial thoughts are, three large bedrooms.
0:41:57 > 0:42:00We'll take the dormer out and put it to the side
0:42:00 > 0:42:04and put a new staircase up the side of the wall to the dormer,
0:42:04 > 0:42:08and make that into one large bedroom with a shower room.
0:42:08 > 0:42:13Three bedrooms downstairs we will make into two large bedrooms with one en suite.
0:42:13 > 0:42:17So, how much does he think it'll cost to do the refurbishment here?
0:42:17 > 0:42:22The overall budget, in between 30,000-40,000.
0:42:22 > 0:42:23Including the dormer?
0:42:23 > 0:42:25That's the dormer, the kitchen, everything.
0:42:25 > 0:42:28Is that bringing in your own builders?
0:42:28 > 0:42:30Yes, they are our own builders.
0:42:30 > 0:42:32If you were to contract the work out,
0:42:32 > 0:42:35you could add another 30-40% on top of that budget.
0:42:35 > 0:42:37Timescale for sorting it?
0:42:37 > 0:42:40We wouldn't be able to start for about 3-4 weeks,
0:42:40 > 0:42:43and, after that, I would say about 12 weeks.
0:42:43 > 0:42:47So what's the big picture with this place? Doing it up to sell it or rent it out?
0:42:47 > 0:42:51This one, we're going to put it straight back on the market, to sell.
0:42:51 > 0:42:53What did you think of it when you first saw it?
0:42:53 > 0:42:57- The first time I saw it was this morning.- What?
0:42:57 > 0:42:58I came in this morning.
0:42:58 > 0:43:02My brother, Jeff, went to the auction to purchase the property.
0:43:02 > 0:43:05I picked up the keys off him last night,
0:43:05 > 0:43:09and I came in this morning and I was pleasantly surprised.
0:43:09 > 0:43:13- So, had anyone seen it before you bought it?- No.
0:43:13 > 0:43:16We found out three or four days before it was on the market,
0:43:16 > 0:43:20and he just went to the auction.
0:43:20 > 0:43:23We didn't think we had any chance of buying it.
0:43:23 > 0:43:26We thought it was going to make around the 280-290,
0:43:26 > 0:43:30and of course, when it came down at 239, we were quite excited about that.
0:43:30 > 0:43:32I know you're experienced at this kind of thing,
0:43:32 > 0:43:36but still, spending almost a quarter of a million,
0:43:36 > 0:43:37without seeing the place?
0:43:37 > 0:43:39Yes, we have to stop doing that.
0:43:39 > 0:43:42We must start to view them before the auction!
0:43:42 > 0:43:45Congratulations. Maybe we'll see you again in another couple of years.
0:43:45 > 0:43:49- Hopefully, yes.- Good luck in the meantime.- Thank you very much.
0:43:49 > 0:43:53Well, it seems Terry has done really well buying this place,
0:43:53 > 0:43:57but as he admits, he really should start looking at places before
0:43:57 > 0:44:01he buys them, because one of these days, he might just come a cropper.
0:44:01 > 0:44:04In the meantime, he's got a team of people to sort it out
0:44:04 > 0:44:07and I think there's a lot of money to be made on this one.
0:44:07 > 0:44:09You can find out how he gets on later in the show.
0:44:12 > 0:44:14Well, the seasons have changed.
0:44:14 > 0:44:16Hopefully, the properties have changed, as well.
0:44:16 > 0:44:20Or have they remained exactly the same? It's the moment of truth.
0:44:22 > 0:44:25Back now to St Mary's Platt, near Sevenoaks in Kent,
0:44:25 > 0:44:28where mother and daughter team Anne and Clara bought
0:44:28 > 0:44:32this four-bedroom house for 290,000.
0:44:32 > 0:44:36- # Here come the girls - # Girls, girls, girls, girls #
0:44:36 > 0:44:40Their plan was to drag the house kicking and screaming out of the '80s
0:44:40 > 0:44:42and back up to date.
0:44:42 > 0:44:44It was to be a joint effort.
0:44:46 > 0:44:49Clara, will you just be project managing and overseeing,
0:44:49 > 0:44:52or is there any chance that she might get stuck in and do some work?
0:44:52 > 0:44:55There's nothing like getting your hands dirty to understand
0:44:55 > 0:44:58how much it actually takes to do something.
0:44:58 > 0:45:01I will be definitely getting my hands dirty in this one.
0:45:01 > 0:45:05I can't wait to get the paint out and start getting the walls looking good again.
0:45:05 > 0:45:08They gave themselves a budget of between 10,000-15,000,
0:45:08 > 0:45:11and four months to do the work.
0:45:11 > 0:45:14Four and a half months after our first visit,
0:45:14 > 0:45:16we're back to see how the girls got on.
0:45:16 > 0:45:20# And we can build this thing together
0:45:20 > 0:45:23# Standing strong for ever
0:45:23 > 0:45:30# Nothing's going to stop us, nothing's going to stop us now
0:45:30 > 0:45:32# Oh-oh #
0:45:32 > 0:45:34And they have definitely done well.
0:45:34 > 0:45:37Downstairs, the 1980s boxiness has been ditched
0:45:37 > 0:45:41in favour of a much more contemporary layout.
0:45:41 > 0:45:45Well, when we came here, there was a door here,
0:45:45 > 0:45:47and there was a door behind me,
0:45:47 > 0:45:53and it felt really overbearing and crowded in, so what we've done is,
0:45:53 > 0:45:57we've taken this wall back and we've taken this wall back.
0:45:57 > 0:46:01We've created a door here, in order to give some sort of privacy,
0:46:01 > 0:46:04and we've just taken this out and left the kitchen,
0:46:04 > 0:46:09so there's a sort of sense of open- plan-ness, but with discrete areas.
0:46:09 > 0:46:15And it just moves you into here,
0:46:15 > 0:46:19where it's a lovely, big, bright room and there's lots of space,
0:46:19 > 0:46:22so I don't think it feels too crowded now.
0:46:22 > 0:46:27There's no way you could call this house crowded any more.
0:46:27 > 0:46:31Anne and Clara have really pushed the boat out
0:46:31 > 0:46:33and given the whole place a total makeover.
0:46:33 > 0:46:36MUSIC: "Weather With You" by Crowded House
0:46:36 > 0:46:39The thing we really wanted to do here was to give the house
0:46:39 > 0:46:43some personality, so we decided to clad the outside
0:46:43 > 0:46:47and change the front door, change the kitchen, change the bathrooms,
0:46:47 > 0:46:51redecorate, re-landscape the garden.
0:46:53 > 0:46:57What about the plan for Clara to muck in and get her hands dirty?
0:46:57 > 0:46:59# Claire, Claire, you're so fine #
0:47:02 > 0:47:06Originally, we talked about a kind of project managerial job,
0:47:06 > 0:47:09but Mum was very, very tight about the budget,
0:47:09 > 0:47:11which is kind of understandable,
0:47:11 > 0:47:14and so although I helped source some of the work,
0:47:14 > 0:47:16mainly, my role was decorating
0:47:16 > 0:47:20and quite a lot of manual labour.
0:47:20 > 0:47:23But it was quite hard. Like, the first day, I thought,
0:47:23 > 0:47:26this is going to be a breeze, painting every day,
0:47:26 > 0:47:29but three and a half weeks in, your shoulders are hurting,
0:47:29 > 0:47:31your neck hurts.
0:47:31 > 0:47:33You can't bear to lift another rubble sack
0:47:33 > 0:47:37around the side of the house, but it was good. I really enjoyed it.
0:47:37 > 0:47:40I felt I was working and accomplishing something,
0:47:40 > 0:47:43rather than working in an office, pushing a pen around a desk.
0:47:43 > 0:47:46It was, yeah, I found it really rewarding.
0:47:46 > 0:47:51And it turns out that student, Clara, has further hidden talents.
0:47:51 > 0:47:55She's fantastic at sourcing some wonderful trades.
0:47:55 > 0:47:57Wonderful guy for the garden, we loved him.
0:47:57 > 0:48:00One of her flatmates from uni.
0:48:00 > 0:48:03He definitely has missed his calling in life!
0:48:03 > 0:48:10# Everywhere you go, always take the weather, the weather with you. #
0:48:10 > 0:48:13The garden, like the house, now feels much more spacious.
0:48:13 > 0:48:15It's a real credit to them.
0:48:15 > 0:48:19They kept to their tight four-month timescale,
0:48:19 > 0:48:22but what about their £10,000-£15,000 budget?
0:48:22 > 0:48:24Bang on the money, 15.
0:48:24 > 0:48:28The decision to take the walls down really exercised me,
0:48:28 > 0:48:32because I knew that it could involve all sorts of extra expenditure,
0:48:32 > 0:48:35the minute you start messing around with taking things down.
0:48:35 > 0:48:37I think it was the right thing to do.
0:48:37 > 0:48:40Certainly the right thing to do in terms of living.
0:48:40 > 0:48:45Whether it was the right thing to do in terms of margin, will be revealed.
0:48:46 > 0:48:49And, as if by magic, here are two local estate agents
0:48:49 > 0:48:52to tell us if they think it was money well spent.
0:48:52 > 0:48:5415 grand for the renovation,
0:48:54 > 0:48:58on top of the purchase price of 290,000
0:48:58 > 0:49:02makes a total outlay of £305,000. So, what are their thoughts?
0:49:02 > 0:49:04Very impressed with the property.
0:49:04 > 0:49:06I believe that the opening up of the kitchen
0:49:06 > 0:49:09and dining room have transformed that living area.
0:49:09 > 0:49:13What they've done to the property, I think is good,
0:49:13 > 0:49:16it's to a fair standard, and I like the idea
0:49:16 > 0:49:20that they've opened up the downstairs.
0:49:20 > 0:49:24So, what did they think the property could fetch as a rental?
0:49:24 > 0:49:31I would put it up for between 1,200-1,400 per calendar month.
0:49:31 > 0:49:32If I was to put it up for rent,
0:49:32 > 0:49:35I'd put it up at £1,800 per calendar month.
0:49:35 > 0:49:37I'm very surprised at 1,800, to be honest,
0:49:37 > 0:49:41but I don't really know what rental values are round here.
0:49:41 > 0:49:43I'd be very happy with the lower figure,
0:49:43 > 0:49:45so I'd be extremely happy with the upper figure.
0:49:45 > 0:49:49There's a potential yield year of between 4%-7%,
0:49:49 > 0:49:53but Anne hopes to sell the house in the not-too-distant future.
0:49:53 > 0:49:56So, what's it worth on the resale market?
0:49:56 > 0:50:00Remember, Anne spent 305,000 altogether.
0:50:03 > 0:50:06If I was to put the property up for sale,
0:50:06 > 0:50:12I'd probably put it on between £355,000 to £365,000.
0:50:12 > 0:50:17If I was to market the property, I'd put it on at just under £400,000.
0:50:17 > 0:50:20I'd be a very happy girl at 335,
0:50:20 > 0:50:23and I'd be an extremely happy girl at 400.
0:50:23 > 0:50:26Done a really good deal if we get it for 400.
0:50:26 > 0:50:28I'd be very surprised to see it at that.
0:50:29 > 0:50:34So Anne could make a profit of between 50 and 95,000 before tax
0:50:34 > 0:50:38and expenses, but for now, Anne and Clara are living here, so what's
0:50:38 > 0:50:42the joint project done for their mother-daughter relationship?
0:50:44 > 0:50:46There were evenings where we used to sit down
0:50:46 > 0:50:48and drink wine out of mugs, like students,
0:50:48 > 0:50:51and think, "This is working really well", and then
0:50:51 > 0:50:54times we'd scream, "We could never do this again",
0:50:54 > 0:50:57but I think, in hindsight, it did work really well, and probably,
0:50:57 > 0:50:59we could do it again together, maybe.
0:51:10 > 0:51:14We go back to Cardiff now, where earlier in the show,
0:51:14 > 0:51:17just a short walk down an exclusive road where properties
0:51:17 > 0:51:24sell for over £1 million, this semi was bought for 239,000 at auction.
0:51:24 > 0:51:27It was sold to Terry and two of his brothers, who jointly own
0:51:27 > 0:51:32a successful property developing company, with over 120 buy-to-lets.
0:51:32 > 0:51:36The house had a very long living room and kitchen.
0:51:36 > 0:51:39There were three bedrooms upstairs...
0:51:41 > 0:51:44..plus an attic conversion,
0:51:44 > 0:51:47that Terry suspected didn't have building regs,
0:51:47 > 0:51:50but he had big plans for the room.
0:51:50 > 0:51:54We'll take the dormer out and put it to the side,
0:51:54 > 0:51:57and make that into one large bedroom with a shower room.
0:51:57 > 0:52:01Three bedrooms downstairs, we'll make into two large bedrooms with one en suite.
0:52:03 > 0:52:05Well, it's now five months later,
0:52:05 > 0:52:08and the dormer's still at the front,
0:52:08 > 0:52:11but it's got a new window,
0:52:11 > 0:52:13just like the rest of the house.
0:52:18 > 0:52:21The front living room has lost the picture rail
0:52:21 > 0:52:25and the parquet floor has been sanded and waxed.
0:52:25 > 0:52:30That narrow room at the back has been divided into two living areas,
0:52:30 > 0:52:34one carpeted, and at the back, a fabulous dining area's been created
0:52:34 > 0:52:38as the wall to the kitchen has been removed.
0:52:43 > 0:52:46And the long kitchen has been transformed,
0:52:46 > 0:52:48with high quality appliances fitted.
0:52:51 > 0:52:56The kitchen area, we took this wall out, here,
0:52:56 > 0:52:59made it more open plan,
0:52:59 > 0:53:03and we then fitted the folding doors
0:53:03 > 0:53:08that goes out onto the patio, there,
0:53:08 > 0:53:12and we've obviously fitted a very expensive kitchen, as you can see.
0:53:12 > 0:53:14The former kitchen extension was demolished
0:53:14 > 0:53:18and Terry's team have extended right across the back,
0:53:18 > 0:53:20so you can now step out onto the decking.
0:53:23 > 0:53:26Upstairs, the three bedrooms remain. Like the rest of the house,
0:53:26 > 0:53:30they have new wiring and windows.
0:53:36 > 0:53:38The layout in the bathroom is the same,
0:53:38 > 0:53:42but a new white suite is a big improvement.
0:53:44 > 0:53:48The original stained glass has been incorporated
0:53:48 > 0:53:53into replacement windows in the landing and hall,
0:53:53 > 0:53:56but the original staircase up to the attic remains,
0:53:56 > 0:53:59as Terry successfully got planning approval
0:53:59 > 0:54:02for the front dormer to remain.
0:54:02 > 0:54:06This room here, we're particularly pleased with.
0:54:06 > 0:54:09We gained full planning.
0:54:09 > 0:54:14We can now keep it as the fourth bedroom.
0:54:14 > 0:54:19It was problematic, because we had to take out this front window
0:54:19 > 0:54:24and put a steel girder across, and then rebuild the whole lot
0:54:24 > 0:54:27and redo the roof and also the roof at the front, here.
0:54:27 > 0:54:31So, the house does now have four bedrooms.
0:54:35 > 0:54:37But only one family bathroom.
0:54:37 > 0:54:40I think I would have tried to incorporate an en suite
0:54:40 > 0:54:42up here, in the attic.
0:54:42 > 0:54:45There's one bonus, though, on the ground floor,
0:54:45 > 0:54:49where the former loo has been converted into a wet room,
0:54:49 > 0:54:53but what has been the effect on the budget?
0:54:53 > 0:54:57Our original budget was about 30,000
0:54:57 > 0:55:01and in total, we've spent 46,000.
0:55:01 > 0:55:05Time to find out what two local estate agents think of this house,
0:55:05 > 0:55:08that Terry and his brothers plan to sell.
0:55:08 > 0:55:12I think the open plan kitchen dining room is fantastic.
0:55:12 > 0:55:15It can be used as a kitchen diner, it can be used as a bit
0:55:15 > 0:55:18of a party room, with the decking on the garden as well,
0:55:18 > 0:55:22- with the bi-folding doors open. - Lots of thought has gone into this.
0:55:22 > 0:55:25We've got uPVC woodgrain finish, in character,
0:55:25 > 0:55:28and in some cases, we have the original windows,
0:55:28 > 0:55:30which give it a flavour of its original charm.
0:55:30 > 0:55:32With the property being four-bedroom,
0:55:32 > 0:55:36with no en suite, only a luxurious family bathroom,
0:55:36 > 0:55:39I think it was essential to put a wet room in.
0:55:39 > 0:55:42The estate agents reckon this property could make
0:55:42 > 0:55:47between £1,100 and £1,300 per calendar month on the rental market,
0:55:47 > 0:55:50but Terry plans to sell, so what could it be worth?
0:55:50 > 0:55:55Remember they paid £239,000 at the auction
0:55:55 > 0:56:01and have spent £46,000 on renovation, making £285,000 in total.
0:56:01 > 0:56:07In my opinion, the value of this property is £375,000.
0:56:07 > 0:56:12I would put this on the market in the region of £360,000-£370,000.
0:56:12 > 0:56:18That valuation range from 360 to 375,000 would generate
0:56:18 > 0:56:22a gross profit, before the usual selling expenses,
0:56:22 > 0:56:25of between £75,000 and £90,000.
0:56:25 > 0:56:28So, what does Terry think of that?
0:56:28 > 0:56:33It's very good, well pleased with that, yeah. Absolutely fabulous!
0:56:33 > 0:56:36The estate agents are clearly impressed with the finish
0:56:36 > 0:56:41Terry's achieved, especially the lovely kitchen and dining area.
0:56:41 > 0:56:44Comments like that are fantastic,
0:56:44 > 0:56:47really nice. We're proud ourselves of what we've achieved
0:56:47 > 0:56:51and to get them comments, the boys will be really pleased.
0:56:54 > 0:56:58We'll have more news from the auction rooms around the country for you next time.
0:56:58 > 0:57:01So make sure you join us for more Homes Under The Hammer.
0:57:01 > 0:57:02- Goodbye.- Goodbye.
0:57:20 > 0:57:23Subtitles by Red Bee Media Ltd
0:57:23 > 0:57:26E-mail subtitling@bbc.co.uk