0:00:02 > 0:00:05Hello, and welcome to the show. In today's uncertain property market,
0:00:05 > 0:00:08it can be difficult to buy your own piece of home heaven.
0:00:08 > 0:00:10But large or small, auctions are a great place to start.
0:00:10 > 0:00:12Yes, today we're following brave buyers
0:00:12 > 0:00:15who've bought their home under the hammer.
0:00:40 > 0:00:43Well, if you've decided to take a gamble
0:00:43 > 0:00:47and place a bet on property, then auctions could be a place to go.
0:00:47 > 0:00:51The auction room is electric, the action, well, it's fast and furious.
0:00:51 > 0:00:54Let's see what inspired the buyers on today's show.
0:00:55 > 0:00:57I'm in Blackley, Manchester,
0:00:57 > 0:01:01where I certainly can't dance on the ceiling of this semi.
0:01:01 > 0:01:04..is a bit odd. I can't for the life of me figure out why.
0:01:05 > 0:01:09In Derbyshire, the first person I'd call is a kitchen fitter.
0:01:09 > 0:01:12Look at this. Look. Whoever fitted this kitchen - urgh! -
0:01:12 > 0:01:14didn't do it very well!
0:01:15 > 0:01:17And this cottage in Warminster, Wiltshire
0:01:17 > 0:01:19has me reaching for the paracetamol.
0:01:21 > 0:01:25But that's just a headache in every single sense of the word!
0:01:26 > 0:01:29All these properties have been sold at auction,
0:01:29 > 0:01:31and we find out who bought them
0:01:31 > 0:01:35- and what they paid when they went under the hammer.- Yours, sir.
0:01:41 > 0:01:44There are two types of buyers around the city -
0:01:44 > 0:01:46those who like living in a cul-de-sac
0:01:46 > 0:01:49and those who like to live where it's busy.
0:01:49 > 0:01:50You don't get much busier than this.
0:01:50 > 0:01:53Blackley is handy for buses, motorways
0:01:53 > 0:01:56and is right on the main artery road into Manchester.
0:01:58 > 0:02:04I'm in northern Manchester, on a major bus link into the city centre.
0:02:04 > 0:02:06So, what do you reckon it's going to cost you
0:02:06 > 0:02:11to buy a three-bed semi-detached, well, exactly here?
0:02:11 > 0:02:14Well, I tell you what, how about this place? It was sold at auction.
0:02:14 > 0:02:17What do you think the reserve price was?
0:02:17 > 0:02:1950,000? 60,000?
0:02:19 > 0:02:2180,000? 100,000?
0:02:21 > 0:02:23It was nil. Nada. Nothing.
0:02:23 > 0:02:26If you had been the only person in the auction room on that day,
0:02:26 > 0:02:30you would have been able to buy this place for £1.
0:02:37 > 0:02:40The property was auctioned without a reserve
0:02:40 > 0:02:44specifically because of the challenges of renovating it.
0:02:44 > 0:02:46A low reserve or one of nothing
0:02:46 > 0:02:49brings a lot of interest to the market.
0:02:49 > 0:02:53It may seem incredible, but that is just the way that auctions work.
0:02:53 > 0:02:56Now, to be absolutely accurate, there was a minimum deposit,
0:02:56 > 0:02:58which had to be paid, of 2,500 quid,
0:02:58 > 0:03:01but still, that's not much money for a house like this.
0:03:01 > 0:03:02Let's find out what that could buy.
0:03:02 > 0:03:06Narrow staircase to the bedrooms upstairs.
0:03:06 > 0:03:10Down the corridor... looks like it's got central heating, which is good.
0:03:10 > 0:03:12Front sitting room there. Nice brick fireplace.
0:03:12 > 0:03:14Try and keep that if you can.
0:03:14 > 0:03:18And then through a bit of a wiggly corridor to the kitchen.
0:03:18 > 0:03:20Now, here's where it starts to go a bit wrong.
0:03:20 > 0:03:22Large holes in the floor
0:03:22 > 0:03:25and some very nasty-looking cracks up there.
0:03:25 > 0:03:28Obviously in need of total refurbishment.
0:03:28 > 0:03:31Still, remember how much it was.
0:03:31 > 0:03:36O...K! Er, yep, this is the rear sitting room.
0:03:36 > 0:03:41Some lovely features here(!) How about this bar? Yes, very 1970s.
0:03:41 > 0:03:45Love these lions' heads. Excellent.
0:03:45 > 0:03:49And there are other throwbacks to the '70s. A lovely kitchen hatch.
0:03:49 > 0:03:51I'm not sure you'd want to keep this.
0:03:51 > 0:03:55Maybe take this wall down, create a nice open-plan kitchen/diner.
0:03:56 > 0:04:00# You will always find him in the kitchen at parties
0:04:00 > 0:04:05# You will always find him in the kitchen at parties... #
0:04:05 > 0:04:07This house is such a '70s throwback.
0:04:07 > 0:04:11That theme carries on into the hallway and stairs,
0:04:11 > 0:04:14with the lovely little features from its original 1930s construction
0:04:14 > 0:04:18only just making themselves heard.
0:04:18 > 0:04:21Well, upstairs, three good-sized double bedrooms
0:04:21 > 0:04:24and a decent-sized bathroom, so that's good news.
0:04:24 > 0:04:29Also, some really amazing features. I mean, look at that.
0:04:29 > 0:04:31Up there in the attic, there is this incredible arch.
0:04:31 > 0:04:34It's actually, I think, the old chimney stacks
0:04:34 > 0:04:37from the fireplaces downstairs on either side,
0:04:37 > 0:04:41and they form this arch, which goes up into one stack on the roof.
0:04:41 > 0:04:45Beautiful. I'd love to see that incorporated to the house somehow.
0:04:45 > 0:04:47Maybe create a room up there and strip back that brick.
0:04:47 > 0:04:50It would be absolutely beautiful.
0:04:50 > 0:04:52But the fact that I can see it,
0:04:52 > 0:04:56the fact that there's no ceiling, all over the upstairs here,
0:04:56 > 0:04:59is a bit odd. I can't for the life of me figure out why.
0:05:01 > 0:05:03# It's a mystery
0:05:03 > 0:05:05# Oh, it's a mystery
0:05:05 > 0:05:11# I'm still searching for the clue... #
0:05:11 > 0:05:13They could have been removed for any number of reasons -
0:05:13 > 0:05:17asbestos, pests, some sort of rot.
0:05:17 > 0:05:22But whatever the reason, this is a huge job to be carried on.
0:05:22 > 0:05:26The bedrooms should be stripped back, plastered and painted and given new windows,
0:05:26 > 0:05:28and the banisters all need renovating, too.
0:05:30 > 0:05:34Well, everything I've seen so far doesn't particularly worry me.
0:05:34 > 0:05:36Yes, there's lots of work to be done,
0:05:36 > 0:05:38but it's stuff that you can cope with.
0:05:38 > 0:05:43Much more serious is the front of the property itself.
0:05:43 > 0:05:45If you look at it from a distance,
0:05:45 > 0:05:48it's actually got serious subsidence.
0:05:48 > 0:05:52Now, it seems that this corner of the front is actually sinking.
0:05:52 > 0:05:54Down there, I reckon that's the culprit,
0:05:54 > 0:05:56a drain that looks like it's broken.
0:05:56 > 0:05:59It's probably been leaking water into the ground.
0:05:59 > 0:06:00That's got very soggy,
0:06:00 > 0:06:02so the corner's just sunk into the mud.
0:06:02 > 0:06:06That could mean you're going to have to rebuild the whole of the front,
0:06:06 > 0:06:10and that is going to cost you a quid or two...
0:06:10 > 0:06:14# A-ha...
0:06:14 > 0:06:16# All the things I could do
0:06:16 > 0:06:20# If I had a little money
0:06:20 > 0:06:22# It's a rich man's world... #
0:06:22 > 0:06:26So, lots of potential, but you'd have to dig deep into your pockets.
0:06:26 > 0:06:30Let's see what the local expert from the auction house thinks of it all.
0:06:30 > 0:06:35The property's an interesting property built in the 1920s, '30s.
0:06:35 > 0:06:39It's got lots of character, lots of challenges for the new owners.
0:06:39 > 0:06:42But they can make something really beautiful out of this.
0:06:42 > 0:06:46What about the condition of the property?
0:06:46 > 0:06:48The renovation job of this house is massive.
0:06:48 > 0:06:51There is no stone that will be left unturned.
0:06:51 > 0:06:53The front bay is falling away from the house,
0:06:53 > 0:06:56so they've got to decide whether to rebuild the bay,
0:06:56 > 0:07:00what they do with certain rooms, how they configure the house,
0:07:00 > 0:07:02where they put kitchens, bathrooms.
0:07:02 > 0:07:05So they've got lots and lots of challenges here,
0:07:05 > 0:07:07which could be seen as lots and lots of fun.
0:07:07 > 0:07:11So whoever bought this will have their work cut out.
0:07:11 > 0:07:16But will all that fun add up if and when the property is sold on?
0:07:16 > 0:07:18If they were putting this on the market,
0:07:18 > 0:07:21I would imagine this would sell for about £120,000.
0:07:21 > 0:07:23Not bad, especially if it went for £1.
0:07:23 > 0:07:27But is this a good rental property?
0:07:27 > 0:07:30To rent this out would be popular. I would imagine they'd get
0:07:30 > 0:07:34between £550 per calendar month and £600 per calendar month.
0:07:34 > 0:07:38Well, no reserve price may seem like an absolute bargain for this,
0:07:38 > 0:07:42but what you've got here is a house with serious structural problems
0:07:42 > 0:07:45that is going to cost quite a lot of money to sort out.
0:07:45 > 0:07:50And what on earth has gone on with the ceiling upstairs?
0:07:50 > 0:07:52Let's hope the person who bought it knew the answer
0:07:52 > 0:07:54when it went under the hammer.
0:07:54 > 0:07:5610,000? First bid.
0:07:56 > 0:07:58£10,000.
0:07:58 > 0:08:0010,000.
0:08:00 > 0:08:0215,000. Who's going to give me 20?
0:08:02 > 0:08:0520. Right, there we go. £20,000 first, then. 25, sir?
0:08:05 > 0:08:0825,000. At 25,000. May I say 30?
0:08:08 > 0:08:1030. 30,000.
0:08:10 > 0:08:11At £30,000. 35?
0:08:11 > 0:08:1435. 35,000. Do I see 40?
0:08:14 > 0:08:1740,000. New bid, 40,000, gentleman in the middle.
0:08:17 > 0:08:19Do I see 45? 45,000.
0:08:19 > 0:08:20At 45, seated.
0:08:20 > 0:08:22Do I see 50? At £50,000.
0:08:22 > 0:08:24At 50. Do I see 55 anywhere?
0:08:24 > 0:08:27It's against you, sir. I've got 55 seated. 60?
0:08:27 > 0:08:29At £60,000. 65?
0:08:29 > 0:08:30No.
0:08:30 > 0:08:31At 60. Give me 61, then.
0:08:31 > 0:08:3561. 62. 63. 64.
0:08:35 > 0:08:3765. At 65,000. 66.
0:08:37 > 0:08:41May I say 67? At 67. 68? At 68,000.
0:08:41 > 0:08:4269?
0:08:42 > 0:08:43At 69. Round it up?
0:08:43 > 0:08:4770? At £70,000, then. At £70,000.
0:08:47 > 0:08:51Is anybody going to give me another bid? It's going to be sold. I'll take 500.
0:08:51 > 0:08:54At 70,000. 70,500. May I say 71?
0:08:54 > 0:08:59At 71,000. 71,500? 71,500. 72? 72.
0:08:59 > 0:09:0372,500? No. At 72,000, then, for the first time.
0:09:03 > 0:09:08At 72,000 for the second and final time. Are we all done at £72,000?
0:09:09 > 0:09:13That's yours, sir. Can I have your paddle number? 889.
0:09:13 > 0:09:18It was John and his wife Linda who made the winning bid of 72,000.
0:09:18 > 0:09:20John's a plumber by trade,
0:09:20 > 0:09:23and he's certainly going to have his work cut out here.
0:09:23 > 0:09:25I met up with them back at the house to find out more.
0:09:27 > 0:09:29- Congratulations! - Thank you very much!
0:09:29 > 0:09:31A bit of work to be done.
0:09:31 > 0:09:36- Oh, yeah!- I think there's more than "a bit", yes.
0:09:36 > 0:09:40It's a great house. Tell me why you wanted to buy it.
0:09:40 > 0:09:41I've got a few properties,
0:09:41 > 0:09:44and work's been really quiet the past 12 months or so,
0:09:44 > 0:09:47so I thought I'd give meself something to do.
0:09:47 > 0:09:51- What do you do?- I'm a plumber by trade, but building work generally.
0:09:51 > 0:09:53- So you can turn your hand to most things.- Yeah.
0:09:53 > 0:09:55Linda, what's your involvement?
0:09:55 > 0:09:57- Well, I'm his wife.- Excellent!
0:09:57 > 0:09:59Of course I have lots of involvement there!
0:09:59 > 0:10:01Well, I'll help where I can.
0:10:01 > 0:10:03I mean, obviously, I'll try
0:10:03 > 0:10:07and come in and do lots of knocking plaster off and what have you,
0:10:07 > 0:10:09but my bits will be when we're doing
0:10:09 > 0:10:12the decorating stage and the gardens,
0:10:12 > 0:10:15and I'll have my input then, really.
0:10:15 > 0:10:18So, why have you bought it?
0:10:18 > 0:10:20It's pointless having money in the bank,
0:10:20 > 0:10:24so property's always been the way to go, for me, really.
0:10:24 > 0:10:26And the idea is that you do it up and sell it on?
0:10:26 > 0:10:30I'll try and sell, but you never know in the market, so I may rent it.
0:10:30 > 0:10:31Probably rent it, I think.
0:10:31 > 0:10:34For a little while, anyway, until the market picks up.
0:10:34 > 0:10:37It's a massive undertaking for the couple,
0:10:37 > 0:10:42made slightly easier by the fact they only live a few miles away,
0:10:42 > 0:10:45so John won't have to get up too early to be on site.
0:10:46 > 0:10:50So, tell me exactly what you're going to do to sort it out.
0:10:50 > 0:10:52Oh, start at the top and work down.
0:10:52 > 0:10:55New roof, fascias, gutters, window frames.
0:10:55 > 0:10:58Depending on the structural engineer, what he says,
0:10:58 > 0:11:00possibly drop the front of the house.
0:11:00 > 0:11:03- "Drop" it?- Yeah. It's leaning in two different directions.
0:11:03 > 0:11:05Depends what he says.
0:11:05 > 0:11:07Whatever the structural engineer says, I'll do.
0:11:07 > 0:11:10- When you say "drop", what do you mean?- The brickwork's falling
0:11:10 > 0:11:13- to the right and the left. - So what will you do?
0:11:13 > 0:11:15It might need to come down.
0:11:15 > 0:11:17- What, the whole of the front? - Maybe, yeah.
0:11:17 > 0:11:20- Are you OK about that? - Yeah. I've done it before, so...
0:11:20 > 0:11:22- Second nature.- I might do it again!
0:11:22 > 0:11:26- It's a big job!- It is, it is, but it's got to be done.
0:11:27 > 0:11:29John and Linda had viewed it before the auction
0:11:29 > 0:11:32and knew what challenges they would face.
0:11:32 > 0:11:35Apart from that major work required at the front of the house,
0:11:35 > 0:11:37what else do they plan to do?
0:11:38 > 0:11:42New window frames, probably a porch,
0:11:42 > 0:11:45push the front door forward to give some more room in the hallway,
0:11:45 > 0:11:48new kitchen, relocate the kitchen to the back,
0:11:48 > 0:11:51and French windows where the kitchen window is now,
0:11:51 > 0:11:54and possibly a bedroom in the loft. I'm not sure about that yet.
0:11:54 > 0:11:57- Just knock it down and start again? - I could do.- We did think about that!
0:11:57 > 0:12:02Cheaper! We did think about that, yeah. We did think about that.
0:12:02 > 0:12:06- The neighbours wouldn't like it!- Next door might have a grumble at that!
0:12:06 > 0:12:08John's obviously prepared
0:12:08 > 0:12:10for the serious issues that have to be tackled here.
0:12:10 > 0:12:15But there is one thing that I really wanted to ask them about.
0:12:15 > 0:12:18- Why is it open to the loft? I can't figure it out.- One word -
0:12:18 > 0:12:21- pigeons.- Pigeons? What, they've eaten it?!
0:12:21 > 0:12:24- No, no, pigeon infestation in the loft.- Right....
0:12:24 > 0:12:27And I got together with the council and the vendor.
0:12:27 > 0:12:30I agreed that it was OK to remove the ceilings
0:12:30 > 0:12:32to get rid of the pigeon problem.
0:12:32 > 0:12:34So, what had happened?
0:12:34 > 0:12:37- Pigeon guano six inches deep through the loft.- Ew!
0:12:37 > 0:12:40- Mm!- You don't want to work in that. I wouldn't let anybody work in it.
0:12:40 > 0:12:43- It was coming down into the bedroom. - Yeah, you could smell it.
0:12:43 > 0:12:47And feathers were coming through. You could hear them cooing.
0:12:47 > 0:12:49# Little pigeon, fly away... #
0:12:53 > 0:12:56That must have been a relief, to have them out of the way
0:12:56 > 0:12:58and be able to start with a clean canvas.
0:12:58 > 0:13:02John will do a lot of the work himself - obviously, the plumbing -
0:13:02 > 0:13:04but will subcontract the rest.
0:13:04 > 0:13:09He hopes to complete this major renovation in about six months.
0:13:09 > 0:13:11So, how much is all that going to cost?!
0:13:11 > 0:13:13I'm hoping about 30 grand-ish,
0:13:13 > 0:13:16but I would imagine another five on top, possibly. 35.
0:13:16 > 0:13:19- What, to even do the front? - Mm, not sure on that.
0:13:19 > 0:13:21The engineer says it doesn't have to be done,
0:13:21 > 0:13:24but, you know, if it does, it does.
0:13:24 > 0:13:28- And that would add another...? - It's scaffolded for the roof anyway,
0:13:28 > 0:13:30so you can drop the front at the same time.
0:13:30 > 0:13:33Well, congratulations. Thank you for solving my mystery.
0:13:33 > 0:13:36- A pleasure.- And good luck with it. - Thank you, Martin. Thank you.
0:13:36 > 0:13:40So, finally, the mystery of the upstairs ceiling is solved.
0:13:40 > 0:13:41It was pigeons!
0:13:41 > 0:13:45Anyway, John and Linda certainly seem under no illusions
0:13:45 > 0:13:48about the amount of work it's going to take to sort this out.
0:13:48 > 0:13:52But especially if they have to rebuild that front wall,
0:13:52 > 0:13:54is their budget going to be enough? I don't think so.
0:13:54 > 0:13:57You can see how they get on later in the show.
0:14:01 > 0:14:04This is the market town of Belper in Derbyshire.
0:14:04 > 0:14:08Belper's cotton mills once churned out cloth and hosiery.
0:14:08 > 0:14:11It is even said that Queen Victoria's stockings
0:14:11 > 0:14:13and Lord Nelson's vest came from here!
0:14:13 > 0:14:16The last mill standing is now a museum
0:14:16 > 0:14:18and Belper has become more of a commuter town
0:14:18 > 0:14:21for nearby Derby, Nottingham and Manchester.
0:14:25 > 0:14:30The property I'm here to see is less than a mile from Belper town centre.
0:14:30 > 0:14:35This development behind me was built in the '70s,
0:14:35 > 0:14:38and this house here was built around 40 years ago.
0:14:38 > 0:14:41I wouldn't describe it as "pretty",
0:14:41 > 0:14:44but at least the guide price was attractive.
0:14:44 > 0:14:47It was up for auction for £100,000.
0:14:47 > 0:14:51Similar properties around here can go for 50 grand more than that,
0:14:51 > 0:14:53so this house is exciting me.
0:14:53 > 0:14:58But this is not, because it's the only way in, up this steep driveway.
0:14:58 > 0:15:01So wish me luck. No bottom shots, please.
0:15:01 > 0:15:03# Shake, shake, shake Shake, shake, shake
0:15:03 > 0:15:05# Shake your booty... #
0:15:05 > 0:15:08'It's a good start as there's double glazing
0:15:08 > 0:15:13'and a reasonably-sized garage, though a very steep drive up to it.'
0:15:13 > 0:15:18So, the '70s feel is apparent inside as well.
0:15:18 > 0:15:22You've got this classic brown staircase here,
0:15:22 > 0:15:23the exposed brickwork.
0:15:23 > 0:15:26You could get rid of this if you wanted to,
0:15:26 > 0:15:29but there's so much you could do to change this room.
0:15:29 > 0:15:32You could paint all of that, get rid of this fireplace.
0:15:32 > 0:15:35I think the good thing here is there is a chimney breast,
0:15:35 > 0:15:37so you can have a focal point.
0:15:37 > 0:15:43But what I like about this is the big window here, letting loads of natural light in,
0:15:43 > 0:15:46a really big family entertaining space.
0:15:46 > 0:15:51So, although the house doesn't tick all the boxes for its beauty prize,
0:15:51 > 0:15:55you've got loads of space here, which is a real bonus.
0:15:55 > 0:15:58You've got a good size reception room here
0:15:58 > 0:16:01and the kitchen. Again, I really like the space.
0:16:01 > 0:16:04There's a lot you could do here. You could take this wall down,
0:16:04 > 0:16:07open it up, so you've got a nice kitchen diner,
0:16:07 > 0:16:09views into the garden.
0:16:09 > 0:16:11Look at all this! I love a bit of storage.
0:16:11 > 0:16:15Look, one, two, three, four... loads of cupboards!
0:16:15 > 0:16:19What you could do is take them out and put all your units along here.
0:16:19 > 0:16:24I would block up the side door and put some lovely French doors here,
0:16:24 > 0:16:27leading straight out to the garden.
0:16:27 > 0:16:30But here's a funny thing - take a look at this.
0:16:30 > 0:16:33Whoever fitted this kitchen...
0:16:33 > 0:16:36didn't do it very well. You can't quite get into that cupboard!
0:16:36 > 0:16:39Definitely needs a bit of a rethink.
0:16:39 > 0:16:42But, you know what? It could really work.
0:16:42 > 0:16:46'Upstairs are two well-proportioned doubles and a single bedroom,
0:16:46 > 0:16:48'all of which could do with redecoration,
0:16:48 > 0:16:51'new carpets and general updating.
0:16:51 > 0:16:55'The same applies to the bathroom. It's also a bit on the small side,
0:16:55 > 0:16:57'but adequate.'
0:16:57 > 0:17:02A bit of a downside to this property is the garden is not huge.
0:17:02 > 0:17:03Bit of a postage stamp.
0:17:03 > 0:17:07Also, you've got a busy main road behind that wall.
0:17:07 > 0:17:10You can really hear the traffic thundering past.
0:17:10 > 0:17:14One way to rectify this garden, to make it a bit bigger,
0:17:14 > 0:17:16would be to take down this conservatory.
0:17:16 > 0:17:19It's not the most attractive of structures,
0:17:19 > 0:17:22but I happen to think it's quite useful.
0:17:22 > 0:17:25If it were my house, I'd probably keep it there.
0:17:25 > 0:17:29It's a good place to store the kids' bikes, painting on a rainy day,
0:17:29 > 0:17:31you can hang your washing out.
0:17:31 > 0:17:33It just offers another room.
0:17:33 > 0:17:36I think I would be inclined to keep something like this.
0:17:36 > 0:17:38'Let's get an assessment of this house
0:17:38 > 0:17:40'with its guide price of £100,000.
0:17:40 > 0:17:44'Who better to ask than the auctioneer who sold it?'
0:17:44 > 0:17:49It's quite a standard three bedroom house of the style that was built
0:17:49 > 0:17:50back in the '70s.
0:17:50 > 0:17:54Straightforward accommodation, not huge, but adequate.
0:17:54 > 0:17:58It has actually been quite well maintained - new windows,
0:17:58 > 0:18:00fireplace that I'm leaning on.
0:18:00 > 0:18:05Kitchen's quite nice, so it's been reasonably kept up-to-date.
0:18:05 > 0:18:09'If bought to let, what rent could be achieved here?'
0:18:09 > 0:18:12I would say that when this is improved,
0:18:12 > 0:18:15although actually there isn't a great deal to do,
0:18:15 > 0:18:18the rental value would be around £600 per calendar month.
0:18:18 > 0:18:21'And the sale value?'
0:18:21 > 0:18:23If you pushed this to its optimum,
0:18:23 > 0:18:26I think it would have a value of around £170,000.
0:18:26 > 0:18:30The going rate for these sort of properties,
0:18:30 > 0:18:34if they're in good order, is somewhere between 165 and 180.
0:18:34 > 0:18:39This is slightly smaller than some of the three-bedroom varieties round here,
0:18:39 > 0:18:41but that's, I think, where it would be.
0:18:43 > 0:18:45This is a hard house to fall in love with.
0:18:45 > 0:18:49Personally, I've never been a fan of '70s architecture,
0:18:49 > 0:18:52unless you make it really, really modern.
0:18:52 > 0:18:55But it is a practical property. It just works.
0:18:55 > 0:18:58It's detached, it offers quite a lot of space,
0:18:58 > 0:19:01and there's potential to add value by just redecorating
0:19:01 > 0:19:04and fitting a new kitchen and bathroom.
0:19:04 > 0:19:08So, who bid for it? Let's find out when we head to auction.
0:19:08 > 0:19:10Who's got 100,000, for a three-bed detached
0:19:10 > 0:19:13in the good residential location of Belper?
0:19:13 > 0:19:15£100,000?
0:19:15 > 0:19:17100,000 is bid, thank you.
0:19:17 > 0:19:20At 100,000, opening bid. 101 somewhere else?
0:19:20 > 0:19:22100,000. 101.
0:19:22 > 0:19:24101, 102.
0:19:24 > 0:19:26103.
0:19:26 > 0:19:28104.
0:19:28 > 0:19:30104, 105.
0:19:30 > 0:19:32106.
0:19:32 > 0:19:33107.
0:19:33 > 0:19:35108.
0:19:35 > 0:19:37109.
0:19:37 > 0:19:39110.
0:19:39 > 0:19:40111?
0:19:40 > 0:19:41Don't stop yet.
0:19:41 > 0:19:43110,000, this side.
0:19:43 > 0:19:44111.
0:19:44 > 0:19:46112.
0:19:46 > 0:19:49112. 113?
0:19:49 > 0:19:52No? Is that it? First and last bid.
0:19:52 > 0:19:54£112,000.
0:19:54 > 0:19:55Once...
0:19:55 > 0:19:57twice,
0:19:57 > 0:19:58third time.
0:19:58 > 0:20:01Yours, sir, thank you, 112.
0:20:01 > 0:20:05# You'd better knock... on wood, baby... #
0:20:05 > 0:20:11'It was carpenter Chris who made that successful bid of 112,000.
0:20:11 > 0:20:14'He, his wife Poppy, and son Harry,
0:20:14 > 0:20:17'have recently moved to the area after living in Surrey.
0:20:17 > 0:20:19'I met them at the property.'
0:20:19 > 0:20:23Guys, congratulations. It's lovely to meet you both today.
0:20:23 > 0:20:26Tell me why you wanted to buy this house at auction.
0:20:26 > 0:20:30I was made redundant, so we've got a little boy, Harry,
0:20:30 > 0:20:33and I'm from Derbyshire originally, just down the road.
0:20:33 > 0:20:36We thought we'd change our careers,
0:20:36 > 0:20:41so Chris decided it was something he'd love to do,
0:20:41 > 0:20:43to do property. He's done one before.
0:20:43 > 0:20:46So we thought this would be the perfect one, really.
0:20:46 > 0:20:49'The family's move north prompted Chris to try his hand
0:20:49 > 0:20:51'at property development.
0:20:51 > 0:20:55'After being made redundant from her casting job in television,
0:20:55 > 0:20:59'Poppy's set up a youth theatre and casting agency.'
0:20:59 > 0:21:02Walking around, there's not that much to do.
0:21:02 > 0:21:03Yes, it does need updating,
0:21:03 > 0:21:07but what are you guys going to do to change this property?
0:21:07 > 0:21:11New kitchen and knock right through into the dining room.
0:21:11 > 0:21:16Maybe take this wall out behind, so you can see right through,
0:21:16 > 0:21:19so it's all open-plan, really.
0:21:19 > 0:21:21New bathroom.
0:21:21 > 0:21:23And just modernise, really.
0:21:23 > 0:21:26'As well as the interior changes,
0:21:26 > 0:21:29'Chris plans to render the outside front wall
0:21:29 > 0:21:33'and put a pitch on the garage and porch as well as move the front door
0:21:33 > 0:21:35'from the side to the front'
0:21:36 > 0:21:39The front door? Yes, it will look great.
0:21:39 > 0:21:42How much expenditure is that going to cost?
0:21:42 > 0:21:46Not a lot, really. Just work. It's just knocking a hole,
0:21:46 > 0:21:49knocking a hole through and moving it round the side.
0:21:49 > 0:21:54- Aesthetically, it'll look better. - A lot of houses have moved them.
0:21:54 > 0:21:58- It looks like there's something missing when it's on the side.- Mm.
0:21:58 > 0:22:00What about that conservatory you've got out the back?
0:22:00 > 0:22:03It's not big enough to do anything with,
0:22:03 > 0:22:05yet it'd be a shame to knock it down...
0:22:05 > 0:22:07And it's quite ugly as well.
0:22:07 > 0:22:12Cos there's no glass at the bottom. We're thinking of taking it down
0:22:12 > 0:22:16and extending the patio area, so you have a nice seating area outside
0:22:16 > 0:22:18and put some French doors on instead.
0:22:18 > 0:22:20Tidy up that way.
0:22:20 > 0:22:23It's a shame to get rid of an extra room, isn't it?
0:22:23 > 0:22:27I really don't know what I'd do. I think I'd probably leave it there.
0:22:27 > 0:22:31- We're still like that on it.- It's not really a room at the moment.
0:22:31 > 0:22:34You couldn't put much in it, I suppose. We'll see.
0:22:34 > 0:22:36What about the colour schemes at the moment?
0:22:36 > 0:22:39Lots of brown wood, brown doors.
0:22:39 > 0:22:42- Are you going to be changing that? - Yeah.
0:22:42 > 0:22:46We're going to replace the stairs for more modern, square spindles
0:22:46 > 0:22:48and tidy that up.
0:22:48 > 0:22:52New skirting throughout, and architraves and doors.
0:22:52 > 0:22:56'The timescale for the refurbishment is eight to ten weeks.
0:22:56 > 0:23:01'Chris will do most of it, apart from the electrics and plumbing.'
0:23:01 > 0:23:03What's your budget to spend here?
0:23:03 > 0:23:04About 8,000.
0:23:04 > 0:23:07Hopefully, we might not need to use it,
0:23:07 > 0:23:10but it doesn't matter if it goes over a little bit.
0:23:10 > 0:23:14Now, because you guys got this at quite a good price,
0:23:14 > 0:23:17how much do you intend to sell this for?
0:23:17 > 0:23:22Hopefully, put it up for sale about 160.
0:23:22 > 0:23:25- So there's a fair bit of profit in it for you?- Yeah.
0:23:25 > 0:23:28There's others on the estate up at that price.
0:23:28 > 0:23:32And this'll obviously be like a brand-new house,
0:23:32 > 0:23:36so this'll be better than the competition, hopefully.
0:23:36 > 0:23:38Poppy, how involved are you going to be?
0:23:38 > 0:23:42I'll bring him sandwiches and cups of tea.
0:23:42 > 0:23:46It's really difficult with Harry.
0:23:46 > 0:23:49I like painting, so maybe I'll do a bit of that.
0:23:49 > 0:23:53Are you slightly worried about your whole change of job, change of plans,
0:23:53 > 0:23:55you've moved from the south to the north,
0:23:55 > 0:23:57you have a new career ahead of you.
0:23:57 > 0:23:59How do you feel about that challenge?
0:23:59 > 0:24:04It's exciting, though, isn't it? If we were ever going to do it,
0:24:04 > 0:24:06the time was now to make the jump.
0:24:06 > 0:24:11If it doesn't work, you go back to what you were doing before.
0:24:11 > 0:24:15Guys, this is a big step for all of you and I really hope it works out.
0:24:15 > 0:24:19- Good luck with all of this.- Thanks. - Lovely to meet you.
0:24:19 > 0:24:21'Chris and Poppy made a bold move,
0:24:21 > 0:24:24'leaving Surrey and both starting new careers.
0:24:24 > 0:24:27'Will they be able to turn this place round in eight to ten weeks?
0:24:27 > 0:24:33'Find out whether the couple are in the money or in over their heads later in the show.'
0:24:34 > 0:24:39'Coming up, in Wiltshire, I find the low ceilings in this cottage are fine...'
0:24:39 > 0:24:43..as long as you spend most of the time...sitting on the floor.
0:24:44 > 0:24:46'In Belper, Derbyshire, outside,
0:24:46 > 0:24:50'things were back to front for Chris and Poppy.'
0:24:50 > 0:24:54The trees were holding the fence up, actually, that was left.
0:24:55 > 0:25:00'But first, in Manchester, John and Linda have certainly impressed a local property expert.'
0:25:00 > 0:25:04This is probably one of the best refurbishments I've seen.
0:25:12 > 0:25:14'Now back to Blackley in Manchester,
0:25:14 > 0:25:18'where John, a multi-skilled plumber, and his wife, Linda,
0:25:18 > 0:25:22'bought this three-bedroom semi-detached property for £72,000.
0:25:22 > 0:25:27'After removing the ceilings to get rid of the pigeon infestation,
0:25:27 > 0:25:29'there were still some major problems to fix,
0:25:29 > 0:25:32'including the holes in the kitchen floor.
0:25:32 > 0:25:36'But it was the front of the house that was the real concern.'
0:25:37 > 0:25:41- The brickwork's falling to the right and the left.- What will you do?
0:25:41 > 0:25:43It might need to come down.
0:25:43 > 0:25:46- The whole of the front of the house? - Maybe.
0:25:46 > 0:25:48- Are you OK about that? - Yeah.- Done it before, so...
0:25:48 > 0:25:50- Second nature.- Might do it again.
0:25:50 > 0:25:57'Well, we're back almost a year later, to find out if Linda and John have managed to banish the birds,
0:25:57 > 0:26:00'or have the pigeons come home to roost?'
0:26:10 > 0:26:14'On the ground floor, they've opened up the whole area,
0:26:14 > 0:26:18'leaving one large, interconnected living space.
0:26:21 > 0:26:24'Obviously, the kitchen has now moved - but where?'
0:26:24 > 0:26:27Yes, the kitchen. We had an existing,
0:26:27 > 0:26:32well, a lean-to extension on it, but it was collapsing.
0:26:32 > 0:26:35It was about a third the size of this, so we dropped the whole thing.
0:26:35 > 0:26:38We reused all the brick from the existing extension
0:26:38 > 0:26:41to create the outer skin and the rest is brand-new.
0:26:41 > 0:26:44It blends in with the house, really.
0:26:44 > 0:26:49Then we put this rather nice kitchen in, but it's not quite finished.
0:26:49 > 0:26:51See the handles missing?
0:26:51 > 0:26:53'It's very nearly all there.
0:26:53 > 0:26:57'They have also created a utility room at the end of the kitchen
0:26:57 > 0:27:01'and they didn't stop there, making a new toilet under the stairs.
0:27:01 > 0:27:07'Upstairs, they swapped the bathroom with the back bedroom.
0:27:07 > 0:27:12'Now it's a spacious room, fitted out with a good quality suite.
0:27:13 > 0:27:17'The two bedrooms and old bathroom have been stripped back,
0:27:17 > 0:27:19'replastered and decorated.
0:27:23 > 0:27:26'They now have a ceiling and, above it,
0:27:26 > 0:27:29'there is another small addition.'
0:27:29 > 0:27:32We've put a complete new floor in,
0:27:32 > 0:27:34because the existing floor wasn't suitable.
0:27:34 > 0:27:38The rafters were that big and we put proper joists right through.
0:27:38 > 0:27:41It's all re-boarded, skimmed, insulated.
0:27:41 > 0:27:43We've put this wall in,
0:27:43 > 0:27:46with some access for storage right the way round the place.
0:27:46 > 0:27:50This is insulated, eight, nine inches deep, really,
0:27:50 > 0:27:54which created a problem because it brought the ceiling level down,
0:27:54 > 0:27:57which meant the stairs on the plan weren't suitable,
0:27:57 > 0:27:59so they had to be replaced
0:27:59 > 0:28:03by these paddle stairs - not my favourite, but they do the job.
0:28:03 > 0:28:06'The worrying signs at the front of the house,
0:28:06 > 0:28:10'where it appeared to be sinking, were not as bad as first thought.
0:28:10 > 0:28:13'After a structural engineer examined it,
0:28:13 > 0:28:15'John rectified the problems.'
0:28:15 > 0:28:18We had to unpin the front corner of the house,
0:28:18 > 0:28:20where they had a drainage problem.
0:28:20 > 0:28:25They'd rebuilt the front of the house, but not remedied the problem, which was two leaking drains.
0:28:25 > 0:28:30We did that, underpinned it and built a porch on it in the end.
0:28:30 > 0:28:34'Outside, in the garden, there was also a lot of work to do,
0:28:34 > 0:28:36'as Linda explains.'
0:28:36 > 0:28:41Outside, my first job was to clear a path through the mud and the weeds,
0:28:41 > 0:28:44to enable us to put some building stuff there,
0:28:44 > 0:28:46so I spent about two weeks
0:28:46 > 0:28:49clearing the weeds and cutting some of the trees back.
0:28:49 > 0:28:52Biggest brambles I've ever seen in my life.
0:28:52 > 0:28:57We couldn't tell how long the garden was for about two days.
0:28:57 > 0:28:59We couldn't see the back fence.
0:28:59 > 0:29:02So, it's much improved now. Very different, nice and open.
0:29:02 > 0:29:06'The couple's original budget was about £30,000,
0:29:06 > 0:29:11'but with all the extra work they've done, including the extension,
0:29:11 > 0:29:13'they must've exceeded that.'
0:29:13 > 0:29:17It's probably cost an extra five grand, on the insulation, really.
0:29:17 > 0:29:20That's not just buying it, that's fitting it as well.
0:29:20 > 0:29:23Even the ground floor's done right through now.
0:29:23 > 0:29:28Once you change a little part of it, it becomes a renewal, so you have to do the whole floor.
0:29:28 > 0:29:31That took a big chunk of the budget.
0:29:31 > 0:29:34Probably spend about 40 now.
0:29:37 > 0:29:41'Adding that £40,000 to the original purchase price of 72,000
0:29:41 > 0:29:45'makes a total of £112,000.
0:29:45 > 0:29:50'What do two local estate agents make of this substantial refurbishment?'
0:29:50 > 0:29:53They've done an amazing job of it, it's a great size.
0:29:53 > 0:29:56They've done a full refurb on the property,
0:29:56 > 0:29:58including the attic bedroom,
0:29:58 > 0:30:02which, I think, will make it very saleable for a larger family.
0:30:02 > 0:30:07The property's absolutely fantastic. The owners have done a superb job.
0:30:07 > 0:30:10This is probably one of the best refurbishments I've seen
0:30:10 > 0:30:14on a traditional three-bedroom semi-detached house.
0:30:14 > 0:30:17'How much would they get if they sold it?
0:30:19 > 0:30:22If I was placing this property on the market, I'd be looking to try
0:30:22 > 0:30:27sort of, late...£159,950.
0:30:27 > 0:30:32I would expect this property to achieve about £140,000.
0:30:32 > 0:30:36I'm not surprised by that at all. I think that's about right.
0:30:36 > 0:30:39I know similar properties up for similar prices,
0:30:39 > 0:30:40so I'm not surprised.
0:30:40 > 0:30:44But there might be a prospect to keep and rent it at that price.
0:30:44 > 0:30:47'That would give John and Linda a pre-tax profit
0:30:47 > 0:30:50'of between £28,000 and £48,000.
0:30:50 > 0:30:54'What rental could they expect to achieve?'
0:30:54 > 0:30:57This is a very desirable property for rental purposes.
0:30:57 > 0:31:00It's a large, family home.
0:31:00 > 0:31:05I would think it would achieve around about £600, £650 per calendar month.
0:31:05 > 0:31:08Rental valuations in the current market,
0:31:08 > 0:31:11I would value this at £650 per calendar month.
0:31:11 > 0:31:14- That's what we thought? - It's about what I thought.
0:31:14 > 0:31:16It's in line with our thinking.
0:31:16 > 0:31:21'That would mean a yield of around 6.5% to 7%.
0:31:21 > 0:31:24'What do they now plan to do with the house?'
0:31:24 > 0:31:28We'll probably put it up for sale, I think, first of all.
0:31:28 > 0:31:33- See how that goes. - Try it for a couple of months, I think, on the market.
0:31:33 > 0:31:37If that doesn't move, say by Christmas, think about renting.
0:31:39 > 0:31:44'How would Linda and John sum up the whole experience?'
0:31:45 > 0:31:47It's been an absolute joy.
0:31:47 > 0:31:51- We've really enjoyed it, haven't we? - Yes, we have.
0:31:53 > 0:31:57I'm in Wylye, deep in the heart of Wiltshire.
0:31:57 > 0:32:01It's got a lovely local pub, there's a cute church,
0:32:01 > 0:32:07lots of chocolate box houses. And, yet, you've got the convenience of Warminster and Salisbury close by.
0:32:07 > 0:32:09What more could you possibly want?
0:32:09 > 0:32:11Oh! How about a house here?
0:32:11 > 0:32:14'The village is popular with commuters
0:32:14 > 0:32:17'who need the nearby stations and road access,
0:32:17 > 0:32:20'but also want the peace and tranquillity of the countryside.
0:32:20 > 0:32:24'I can see that once you've moved here, it would be hard to leave.'
0:32:24 > 0:32:30Well, being in this part of the country, I'm expecting to find something with a bit of character.
0:32:30 > 0:32:32I am not disappointed!
0:32:32 > 0:32:35This is a 19th century thatched cottage.
0:32:35 > 0:32:38At a guide price of £220,000,
0:32:38 > 0:32:43it seems like a lot of property for the money. Let's look inside.
0:32:43 > 0:32:46'Thatched cottages aren't everyone's cup of tea,
0:32:46 > 0:32:49'due to the maintenance required,
0:32:49 > 0:32:51'but they do tend to sell for a premium.
0:32:51 > 0:32:54'From the outside, this one's certainly very pretty.
0:32:54 > 0:32:56'Time for a nosey about.'
0:32:58 > 0:32:59Wow!
0:32:59 > 0:33:02That is ridiculous.
0:33:02 > 0:33:06I'm expecting a low ceiling - that's kind of characterful...
0:33:08 > 0:33:12But that's just a headache in every single sense of the word!
0:33:13 > 0:33:17Seriously, that would put me off buying this place.
0:33:17 > 0:33:20That's not just me, it would be a lot of people.
0:33:20 > 0:33:24I'm 6' tall, so, I guess if you were going to sell to someone not as tall as me...
0:33:24 > 0:33:27But why would you limit your market so much?
0:33:27 > 0:33:32Let's try and be a bit positive. Look what someone's done to create more headspace -
0:33:32 > 0:33:35they've chiselled through one of these beautiful old beams.
0:33:35 > 0:33:39You don't hit your head on this side, as opposed to this side, which you do!
0:33:39 > 0:33:41Ha! Good news, though, look over here.
0:33:41 > 0:33:44How beautiful is this?!
0:33:44 > 0:33:46A fantastic inglenook fireplace.
0:33:46 > 0:33:49OK, OK, the cottage is starting to redeem itself.
0:33:49 > 0:33:54As long as you spend most of your time...sitting on the floor,
0:33:54 > 0:33:57not going to be a problem, is it?
0:33:57 > 0:34:00# I'll light the fire
0:34:01 > 0:34:07# You place the flowers in the vase that you bought... #
0:34:07 > 0:34:11'As much as I would like to sit in front of a roaring fire,
0:34:11 > 0:34:12'I've got work to do.
0:34:12 > 0:34:14'There's plenty more house to explore.
0:34:14 > 0:34:19'One thing worth mentioning is that although this cottage isn't listed,
0:34:19 > 0:34:24'it is in a conservation area, so any external or major changes
0:34:24 > 0:34:27'would need planning permission.'
0:34:27 > 0:34:31Rear sitting room there. Up a few steps, you've got a loo,
0:34:31 > 0:34:33access to the rear garden. Then, at last,
0:34:33 > 0:34:37through to a room that at least has a bit of head height - the kitchen.
0:34:37 > 0:34:41Unfortunately, this is probably the room with the least character,
0:34:41 > 0:34:45but I reckon with a really nice, handmade kitchen in here,
0:34:45 > 0:34:47you'd at least have a room...
0:34:47 > 0:34:50where you didn't have to be ducking all the time.
0:34:50 > 0:34:55'In the rear extension out back, there's a separate boiler room or airing cupboard,
0:34:55 > 0:34:58'which might be better used as something else.
0:34:58 > 0:35:03'Great to have a downstairs loo, and having a shower is a bonus,
0:35:03 > 0:35:06'though that depends what's lurking upstairs.
0:35:06 > 0:35:09'I hope there's a decent bathroom.'
0:35:09 > 0:35:13So, upstairs, bedroom there, bedroom there.
0:35:13 > 0:35:16A few hidden hazards, a step where you're not expecting it.
0:35:16 > 0:35:18The whole place has got hazards,
0:35:18 > 0:35:23places you can bang your head, trip up. It all adds to the character,
0:35:23 > 0:35:26but what was it in olden days? Were they just shorter?
0:35:26 > 0:35:30Did I eat too many breakfast cereals as a child, so I'm abnormally tall?
0:35:30 > 0:35:32Anyway, bedrooms, bedrooms.
0:35:32 > 0:35:35Bathroom here, looks in reasonable nick.
0:35:35 > 0:35:39'The bathroom's nice enough, but needs freshening up.
0:35:39 > 0:35:43'And then into the decent-size master bedroom,
0:35:43 > 0:35:49'with windows at the front and rear giving lovely views over the garden.
0:35:54 > 0:35:59'This English country garden comes complete with a shed and apple tree.
0:35:59 > 0:36:01'The garden is level... with the back windowsill,
0:36:01 > 0:36:04'so, to give more light into that room,
0:36:04 > 0:36:06'the ground should be landscaped back.
0:36:06 > 0:36:11'Although this cottage is charming and has lots of rooms inside,
0:36:11 > 0:36:15'the low ceilings are a concern. There is potential here, though.
0:36:15 > 0:36:19'We asked a local estate agent to give his verdict on this property,
0:36:19 > 0:36:22'guided at £220,000.'
0:36:22 > 0:36:25The first thing is it's very deceptive.
0:36:25 > 0:36:27It looks like a traditional, rambling cottage.
0:36:27 > 0:36:31Actually, there's a lot of room, a lovely big sitting room here,
0:36:31 > 0:36:33with an inglenook fireplace.
0:36:33 > 0:36:35The kitchen and dining room,
0:36:35 > 0:36:38there's potential there, good size dining room.
0:36:38 > 0:36:41And, for a cottage, the bedrooms are sensible.
0:36:41 > 0:36:43I think each will take a double bed.
0:36:43 > 0:36:47And plenty of potential to rearrange that, as well.
0:36:47 > 0:36:50'Let's talk resale values.'
0:36:50 > 0:36:52The property, as it stands,
0:36:52 > 0:36:56I would suggest the open market value
0:36:56 > 0:37:00to be in the region of £225,000 to £235,000.
0:37:00 > 0:37:02As a refurbished property,
0:37:02 > 0:37:07I think it could comfortably make £300,000 to £315,000.
0:37:07 > 0:37:09'That would be a fantastic profit,
0:37:09 > 0:37:12'obviously depending on how much was spent doing it up.
0:37:12 > 0:37:15'What rent could it achieve?'
0:37:15 > 0:37:21I would anticipate a rental value of £800 to £850 per calendar month.
0:37:21 > 0:37:23Well, if it's character you're after,
0:37:23 > 0:37:26this place has it by the bucket-load.
0:37:26 > 0:37:30But, with that character, comes potential for huge expense,
0:37:30 > 0:37:33one of those things that could just eat up the money.
0:37:33 > 0:37:36I'd have a real issue with those low ceilings.
0:37:36 > 0:37:41I'm sure they were throwing their hands in the air at the auction.
0:37:41 > 0:37:44Let's find out who was successful when it went under the hammer.
0:37:44 > 0:37:46Pretty village, pretty cottage.
0:37:46 > 0:37:50Roof is done, the most important thing, being thatched.
0:37:50 > 0:37:51There we are. 200?
0:37:51 > 0:37:53190?
0:37:53 > 0:37:55180?
0:37:55 > 0:37:56170, if you like.
0:37:56 > 0:38:00170. £170,000, I'm bid, I'll take five to get on.
0:38:00 > 0:38:02175, 180, to you.
0:38:02 > 0:38:05185. 190, 190,
0:38:05 > 0:38:08to the lady at £190,000, sat down.
0:38:08 > 0:38:10It's against you over there. I'll take five.
0:38:10 > 0:38:12Or two and a half, if you like?
0:38:12 > 0:38:16Yes or no, otherwise £190,000 to you.
0:38:16 > 0:38:18For the first time, I shan't dwell.
0:38:18 > 0:38:21£190,000, then, for the second time.
0:38:21 > 0:38:25And £190,000, third and last time, you're done at 1-9-0.
0:38:30 > 0:38:33'Catherine is the happy new owner of the cottage,
0:38:33 > 0:38:35'especially as she got it for £190,000,
0:38:35 > 0:38:38'30,000 under the guide price.
0:38:38 > 0:38:42'She has just returned from two years working abroad.
0:38:42 > 0:38:46'I met her in the garden to find out her plans for the place.'
0:38:48 > 0:38:50- Catherine, congratulations! - Thank you.
0:38:50 > 0:38:53I'm glad to see you're not super tall!
0:38:53 > 0:38:57I know, some of those ceilings in the property are quite low. It's OK for me.
0:38:57 > 0:39:00Is that why you bought it?
0:39:00 > 0:39:01No, not at all.
0:39:01 > 0:39:05I bought it because I thought it would be a good value property
0:39:05 > 0:39:09in terms of the amount of property you get for the price,
0:39:09 > 0:39:12particularly in this area. I was looking to buy here
0:39:12 > 0:39:15and it's just what I wanted.
0:39:15 > 0:39:21I wanted a chocolate box type property. They don't normally come up at auction, so I was really lucky.
0:39:21 > 0:39:22What are you going to do to it?
0:39:22 > 0:39:27I've got a lot of plans and ideas and I'm getting some architects and builders in,
0:39:27 > 0:39:32because I want to do more to the property than just redecorating.
0:39:32 > 0:39:35There's a lot of things that, structurally,
0:39:35 > 0:39:38might need to be looked at, in particular the back garden here,
0:39:38 > 0:39:41and the way it's built up against the back wall.
0:39:41 > 0:39:46I want to make sure it's something that is OK to leave
0:39:46 > 0:39:49or, possibly, to lower that down by about three feet,
0:39:49 > 0:39:51to get it level with the back of the property.
0:39:51 > 0:39:54Then looking at getting rid of the back extension,
0:39:54 > 0:39:57possibly putting a dining conservatory on as well.
0:39:57 > 0:39:59So there's a lot of work I want to do.
0:39:59 > 0:40:02'If Catherine could lower the ground at the back,
0:40:02 > 0:40:06'that would definitely help the light situation.
0:40:06 > 0:40:09'She also plans to move the kitchen.'
0:40:09 > 0:40:13- Why would you do that?- To bring the kitchen into the centre of the home,
0:40:13 > 0:40:16because entertaining, for me and my friends and family,
0:40:16 > 0:40:20is really important. I really like the kitchen diner concept.
0:40:20 > 0:40:23At the moment, the kitchen and dining room are separated
0:40:23 > 0:40:27and I'd like to see if I could bring that into the main house.
0:40:27 > 0:40:29So, quite a lot you're planning to do.
0:40:29 > 0:40:34There is a lot and I think I'm going to have to break it down into phases one and two.
0:40:34 > 0:40:38Phase one being getting the property into a state I can move into,
0:40:38 > 0:40:42and live in, and phase two, possibly in four to five years' time
0:40:42 > 0:40:45of adding a dining conservatory extension onto it.
0:40:45 > 0:40:52'What's the budget for these ambitious plans for a phased refurbishment?'
0:40:52 > 0:40:54I've had people have a look at it.
0:40:54 > 0:40:59What I've done is give them a budget and asked them whether what I want is achievable within it.
0:40:59 > 0:41:05What we're going to look at is them telling me what they can do in that budget -
0:41:05 > 0:41:07- about £40,000 to £50,000.- Oh, wow.
0:41:07 > 0:41:10See what they can achieve with that.
0:41:10 > 0:41:13I'll get as much done as I can and that that I can't do now,
0:41:13 > 0:41:15hopefully in five or six years,
0:41:15 > 0:41:17once I've saved more money, we can do phase two.
0:41:17 > 0:41:20'It's Catherine's own project,
0:41:20 > 0:41:24'but she has had help with planning from friends and family,
0:41:24 > 0:41:26'in particular, her mum.'
0:41:26 > 0:41:32She's very good at visualising projects and she's done quite a lot of these projects herself,
0:41:32 > 0:41:35so she's drawn up some architectural designs,
0:41:35 > 0:41:39'which have been really helpful going to architects and builders,
0:41:39 > 0:41:42'trying to describe to them'
0:41:42 > 0:41:47- what I want to have as a finished product. She's been great.- Will she be involved as you go along?
0:41:47 > 0:41:51I'm going to keep her informed, but she's not running this project.
0:41:51 > 0:41:55It's certainly my own, but she's got a keen interest in it.
0:41:55 > 0:41:57Good luck with it all. Delighted for you.
0:41:57 > 0:42:01- Thank you very much.- Much happiness in your new home.- Thank you.
0:42:01 > 0:42:03Well, Catherine has got herself a bargain
0:42:03 > 0:42:06and I like her way of negotiating with the builders,
0:42:06 > 0:42:08But my concern is that this place,
0:42:08 > 0:42:11being a character property of this age,
0:42:11 > 0:42:14could turn into a money pit.
0:42:14 > 0:42:16You never know.
0:42:16 > 0:42:19You can find out how she gets on later in the show.
0:42:22 > 0:42:25The moment of reckoning has arrived.
0:42:25 > 0:42:28So, have our property gambles paid off
0:42:28 > 0:42:31or have our buyers backed the wrong horse?
0:42:31 > 0:42:33Let's find out.
0:42:33 > 0:42:38'Now back to Belper, in Derbyshire, where Chris and his wife, Poppy,
0:42:38 > 0:42:41'bought this three-bedroom house for £112,000.
0:42:41 > 0:42:45'The couple had recently moved to the area with their son, Harry.
0:42:45 > 0:42:50'Chris, a carpenter, was getting into property development,
0:42:50 > 0:42:53'starting with updating this '70s house.'
0:42:53 > 0:42:55We thought we'd change our careers,
0:42:55 > 0:43:00so Chris decided it was something he'd love to do,
0:43:00 > 0:43:03do property. He's done one before.
0:43:03 > 0:43:05So we thought this would be the perfect one.
0:43:05 > 0:43:10'We're back eight weeks later to meet Chris, Poppy and Harry
0:43:10 > 0:43:15'to find out if this '70s throwback has been brought up to date.'
0:43:15 > 0:43:21'The exterior looks great, with some work gone into repositioning that front door
0:43:21 > 0:43:25'and the garage roof now has an added pitch.
0:43:25 > 0:43:28'As for the inside...
0:43:29 > 0:43:31'..well, it's bye-bye '70s.
0:43:31 > 0:43:32'The stairs have been replaced
0:43:32 > 0:43:36'and, apart from the obvious new fireplace and the plastering,
0:43:36 > 0:43:40'there seems to be a bigger entrance to the dining room.'
0:43:43 > 0:43:47Came into here, removed this wall and doorway,
0:43:47 > 0:43:49so it flowed right through.
0:43:49 > 0:43:52Then we came into the - this was the dining room -
0:43:52 > 0:43:56removed the wall from the kitchen, to make a kitchen diner.
0:43:56 > 0:44:01Put in a breakfast bar. We spent an extra bit of money on the kitchen,
0:44:01 > 0:44:06just to make it look a bit smarter. We're quite pleased with it.
0:44:06 > 0:44:10'They had planned to remove the small conservatory at the back,
0:44:10 > 0:44:13'but it appears to still be there.
0:44:13 > 0:44:15'Did they take my advice?'
0:44:15 > 0:44:19Um...she said it was a great extra piece of space for a family.
0:44:19 > 0:44:23And I thought it was quite ugly, so we were going to get rid,
0:44:23 > 0:44:26but we didn't. We agreed with her in the end.
0:44:26 > 0:44:28It was all right, once it was cleaned up.
0:44:28 > 0:44:32'And what's happened upstairs?'
0:44:32 > 0:44:34The main things we've done up here
0:44:34 > 0:44:37is replace this full-length old cupboard door
0:44:37 > 0:44:38with a new door and frame,
0:44:38 > 0:44:42to match the rest of the doors on the landing.
0:44:42 > 0:44:45New handrail and spindles.
0:44:45 > 0:44:49Fitted a new bathroom and really just decorated
0:44:49 > 0:44:52and kept it all neutral, bright and fresh.
0:44:52 > 0:44:54'Apart from that new fitted bathroom,
0:44:54 > 0:44:58'all the bedrooms have been freshened up.
0:45:03 > 0:45:06'Time to look at the garden.'
0:45:07 > 0:45:09SONG: "Match Of The Day" Theme
0:45:16 > 0:45:19'OK, so it's not a big garden to you and me,
0:45:19 > 0:45:21'but big enough for Harry.
0:45:21 > 0:45:23'But where have the trees gone?'
0:45:23 > 0:45:26They were really big and tangled in the fence.
0:45:26 > 0:45:29The fence was all broken.
0:45:29 > 0:45:33The trees were holding the fence up, actually, that was left.
0:45:33 > 0:45:36So we got the saw out and cut them down,
0:45:36 > 0:45:39cut them into logs and gave them away.
0:45:39 > 0:45:44'What was Poppy's role during the refurbishment?
0:45:44 > 0:45:48I came every day to drop some sandwiches off and then I left.
0:45:48 > 0:45:51I did a bit of painting, and that was it, really.
0:45:51 > 0:45:53'It's hard with Harry,
0:45:53 > 0:45:56'cos there's so many tools around it's quite dangerous.'
0:45:56 > 0:45:58So, that's my excuse!
0:45:58 > 0:46:02'Did this development throw up any unforeseen issues?'
0:46:02 > 0:46:07The porch... As we were cutting a new front door,
0:46:07 > 0:46:09onto the front,
0:46:09 > 0:46:12the wall that was remaining gave way.
0:46:12 > 0:46:14So, um...
0:46:14 > 0:46:16we took it all out and rebuilt it.
0:46:16 > 0:46:19So, that was the unexpected part of it.
0:46:19 > 0:46:23'Their initial budget for the refurbishment was £8,000.
0:46:23 > 0:46:25'Have they kept to this?'
0:46:25 > 0:46:29I think by the time we've finished everything, with the gardens,
0:46:29 > 0:46:32it'll be...nearly ten.
0:46:32 > 0:46:38The extra cost came from putting a slightly more expensive kitchen than I was going to.
0:46:38 > 0:46:41There was extra skips that we didn't anticipate,
0:46:41 > 0:46:44for the amount of rubbish that we had.
0:46:44 > 0:46:47And some extra labour costs I hadn't anticipated either,
0:46:47 > 0:46:50because I was going to do most of it myself,
0:46:50 > 0:46:52but I got some extra labour in to help,
0:46:52 > 0:46:55so that's where the extra money went, really.
0:46:55 > 0:47:00'When added to the purchase price of £112,000,
0:47:00 > 0:47:03'that makes a total outlay of £122,000.
0:47:03 > 0:47:08'We invited two local estate agents to give us their opinions.'
0:47:08 > 0:47:09I think it's a lovely property.
0:47:09 > 0:47:12I like the layout, it's a good location.
0:47:12 > 0:47:17Some of the choices they've made are very good, the kitchen and bathroom.
0:47:17 > 0:47:19Generally, very positive.
0:47:19 > 0:47:22The work the owner has done here has cleaned it up very well.
0:47:22 > 0:47:26The new roof on the garage is a practical step forward.
0:47:26 > 0:47:29The replacement kitchen and bathroom make it up to date.
0:47:29 > 0:47:33One thing I do like is they've taken the wall out
0:47:33 > 0:47:36between the lounge and kitchen, which really opens it up.
0:47:36 > 0:47:39It gives that open-plan feeling which is popular.
0:47:39 > 0:47:44'What rent could be achieved here?
0:47:44 > 0:47:48The property will return about £600 per calendar month on the rental market.
0:47:48 > 0:47:54This property I would put on the rental market for £595 per calendar month.
0:47:54 > 0:47:56Yeah, that's...
0:47:56 > 0:48:00- I'd imagine that would be...- We hadn't really thought about rental.
0:48:00 > 0:48:03- We're never going to rent it out. It's nice to know.- Yeah.
0:48:03 > 0:48:09'But what they're really interested in is those sale valuations.'
0:48:09 > 0:48:12Putting it on the open market for sale,
0:48:12 > 0:48:15I'd be looking at offers of £160,000.
0:48:15 > 0:48:18It ought to be marketed at between £150,000 and £160,000,
0:48:18 > 0:48:21depending upon the time available.
0:48:21 > 0:48:24Yeah, that's exactly what we anticipated, really.
0:48:24 > 0:48:28There's a few on the estate going for that price.
0:48:28 > 0:48:33So, we thought if we were the same price, but we were all renovated,
0:48:33 > 0:48:36it puts us ahead of the game, hopefully.
0:48:36 > 0:48:40'That sounds pretty good, giving them a pre-tax profit
0:48:40 > 0:48:43'of between £28,000 and £38,000.
0:48:43 > 0:48:47'When this project's completed, what do the couple plan to do next?
0:48:48 > 0:48:54Hopefully, as soon as we get this up for sale, start looking for the next one, and carry on.
0:48:54 > 0:48:57- Maybe look before.- Yeah, yeah.
0:49:05 > 0:49:07'Back now to Wylye in Wiltshire,
0:49:07 > 0:49:12'where Catherine bought this scenic cottage for 190,000.
0:49:12 > 0:49:16'After a period working abroad, she was going to make this her new home.
0:49:16 > 0:49:21'She planned to do the work in two phases and hoped to make a new kitchen-dining area.
0:49:21 > 0:49:24'She was dealing with her builders in a unique way.
0:49:24 > 0:49:31What I've done is given them a budget and asked them whether what I want is achievable within that budget.
0:49:31 > 0:49:35Really, what we're going to look at is them telling me what they can do.
0:49:35 > 0:49:38About £40,000 to £50,000.
0:49:38 > 0:49:44'It's now three years since we saw Catherine and her thatched cottage.
0:49:44 > 0:49:46'Let's see how she got on.'
0:49:59 > 0:50:04'She's managed to create that all-important extra headroom by raising the ceiling.
0:50:04 > 0:50:07'Now it's an easy stroll into the lounge,
0:50:07 > 0:50:10'with the lovely inglenook fireplace.
0:50:12 > 0:50:16'And there's a newly-created window seat.'
0:50:18 > 0:50:22Here, in the lounge, I've made a lot of significant changes.
0:50:22 > 0:50:24The most obvious one here is this new beam,
0:50:24 > 0:50:28which we've put in to replace the old beam that was cut in half.
0:50:28 > 0:50:32It was also supported by a pillar or beam itself.
0:50:32 > 0:50:36We've taken that all out and raised the ceiling.
0:50:36 > 0:50:39We've kept some of the old beams from the hallway.
0:50:39 > 0:50:43They've been put back in here to create that character.
0:50:43 > 0:50:45It now creates a room that's got character,
0:50:45 > 0:50:49it's a more functional space, but it's cosy as well.
0:50:51 > 0:50:53'Continuing on the ground floor,
0:50:53 > 0:50:58'the dining room now has French windows looking out onto the garden.
0:51:02 > 0:51:06'Heading through to the kitchen, it has been completely changed around
0:51:06 > 0:51:08'with French windows installed
0:51:08 > 0:51:12'as well as a brand-new range cooker taking centre stage.'
0:51:14 > 0:51:17The kitchen itself is not yet complete.
0:51:17 > 0:51:22There's quite a few things that need to be done to the kitchen, to get it finished.
0:51:22 > 0:51:27The granite surface needs to be put in and there'll be an alcove built
0:51:27 > 0:51:30over the AGA, with another original beam from the cottage.
0:51:30 > 0:51:36But the room itself really came out of the redesign of that room,
0:51:36 > 0:51:41in terms of knocking through what was a very thick wall with a small window
0:51:41 > 0:51:45and creating a large patio door type area,
0:51:45 > 0:51:47with lots of light coming into it,
0:51:47 > 0:51:49which then floods that area with light,
0:51:49 > 0:51:53so it makes it a really bright, practical kitchen.
0:51:53 > 0:51:58'Next door to the kitchen is the new utility area and a new toilet.
0:52:00 > 0:52:04'Does upstairs match the ground floor for surprises?'
0:52:04 > 0:52:08Up on the first floor, we opened up each of the bedrooms,
0:52:08 > 0:52:11so they are all vaulted up to the beams,
0:52:11 > 0:52:13so you can see some of the rafters.
0:52:13 > 0:52:17I also included an en-suite bathroom to the master bedroom
0:52:17 > 0:52:21and we levelled out the floors upstairs
0:52:21 > 0:52:25so it creates a much better flow upstairs as well.
0:52:26 > 0:52:32'Big changes in the bathroom, with a stylish new suite and redecoration.
0:52:37 > 0:52:40'The other two bedrooms look more spacious too,
0:52:40 > 0:52:43'with that added ceiling height.
0:52:47 > 0:52:49'Let's take a look outside.'
0:53:01 > 0:53:05Outside here, the garden's been completely re-landscaped.
0:53:05 > 0:53:09It was about three to four feet higher in this particular area,
0:53:09 > 0:53:14with the utility area coming out onto quite a dank, dingy decking area.
0:53:14 > 0:53:17That's all been reduced down by three to four feet,
0:53:17 > 0:53:19creating a patio area for entertaining
0:53:19 > 0:53:22and the steps leading up to the garden,
0:53:22 > 0:53:24which is on the same level as before.
0:53:24 > 0:53:28The only thing that hasn't changed is my thinking stool - a tree stump,
0:53:28 > 0:53:32which I used to sit on during the renovation
0:53:32 > 0:53:35and just look at the cottage, out the way of the builders,
0:53:35 > 0:53:39and make sure it was being developed into a cottage just perfect for me.
0:53:39 > 0:53:43'And I think Catherine missed telling us about something new.'
0:53:43 > 0:53:48I've installed, as part of the garden renovations, a treat for myself,
0:53:48 > 0:53:55which is a hot tub, which I know that my mother finds particularly ghastly!
0:53:55 > 0:53:58But, actually, it's a fantastic thing to have,
0:53:58 > 0:54:02to come home from a hard day's work and sit in the hot tub
0:54:02 > 0:54:04and shake the stress away.
0:54:04 > 0:54:07'And, if all those bubbles weren't enough,
0:54:07 > 0:54:11'she's left something else for a future owner.'
0:54:11 > 0:54:15During the renovation, we put a time capsule into one of the cottage walls
0:54:15 > 0:54:19which incorporates some history of the cottage I found out in the library
0:54:19 > 0:54:22and a bit about myself and what we've done.
0:54:22 > 0:54:25That was wrapped up with a bottle of wine for the finder
0:54:25 > 0:54:28and put into one of the walls whilst it was being renovated.
0:54:29 > 0:54:34'Originally, Catherine planned to renovate the cottage in two phases,
0:54:34 > 0:54:37'with a budget of £40,000 for phase one.
0:54:37 > 0:54:41'Did she stick to that plan?'
0:54:41 > 0:54:47In the end, after quite a considerable period of looking at what I wanted to achieve,
0:54:47 > 0:54:50I realised that, in order to get it to a standard
0:54:50 > 0:54:54where I didn't feel I had to do any more work in the near future,
0:54:54 > 0:54:57I realised it would cost a lot more money.
0:54:57 > 0:55:02So, I released some finances and increased the budget to £100,000,
0:55:02 > 0:55:05which actually includes everything.
0:55:05 > 0:55:08It also includes a lot of the things I've put in
0:55:08 > 0:55:13that I wouldn't have done had I not been coming to live in the cottage myself.
0:55:14 > 0:55:19'Adding that combined phased total to her purchase price of £190,000
0:55:19 > 0:55:23'makes her total outlay £290,000.
0:55:23 > 0:55:25'We invited two local property experts
0:55:25 > 0:55:29'to give their opinion on the revamped cottage.'
0:55:30 > 0:55:34Impressions are very good. I think it's an absolutely superb cottage.
0:55:34 > 0:55:37The renovation has been done to a high standard.
0:55:37 > 0:55:39It's very, very well done.
0:55:39 > 0:55:43In terms of the finish, the white walls give it a very clean...
0:55:43 > 0:55:45The best thing about the property is the beams,
0:55:45 > 0:55:50bringing out all that character and exposing that. It looks brilliant.
0:55:50 > 0:55:53'What would they value it at now?'
0:55:53 > 0:55:58I would recommend an asking price for the property of £395,000.
0:55:58 > 0:56:00If I was to market this property,
0:56:00 > 0:56:03I would place a value of £350,000 on it.
0:56:03 > 0:56:06Wow! That's really... I'm pleased with that,
0:56:06 > 0:56:11though I have to bear in mind that I never did this for any profit at all.
0:56:11 > 0:56:13It has been done for me to live in,
0:56:13 > 0:56:16so I've done it to the standard I wanted.
0:56:16 > 0:56:21I've spent a lot of money on things I wouldn't have done had I been just wanting to sell it on.
0:56:21 > 0:56:24'That would give Catherine a pre-tax profit
0:56:24 > 0:56:28'of between £60,000 and £105,000.
0:56:28 > 0:56:32'With the cottage going to be her home for the next few years,
0:56:32 > 0:56:35'would she consider another such project in the future?'
0:56:35 > 0:56:40One day, I probably will sell, and I would be tempted to buy another property and do it up,
0:56:40 > 0:56:45cos I have enjoyed doing this. So, one day, yes.
0:56:47 > 0:56:51Whether you're a seasoned property developer or a novice,
0:56:51 > 0:56:54do join us next time for more auction stories.
0:56:54 > 0:56:57We'll see you then for more Homes Under The Hammer.
0:56:57 > 0:56:58- Goodbye.- Goodbye.
0:57:18 > 0:57:22Subtitles by Red Bee Media Ltd