0:00:02 > 0:00:04Since we've started filming Homes Under the Hammer,
0:00:04 > 0:00:06we've seen literally thousands of people
0:00:06 > 0:00:08buying their properties at auction.
0:00:08 > 0:00:11And we just love bringing you the stories behind them,
0:00:11 > 0:00:14but it can be a bumpy ride, so fasten your seatbelts,
0:00:14 > 0:00:16as we head to those auctions.
0:00:41 > 0:00:44This programme isn't just about bricks and mortar,
0:00:44 > 0:00:48it's about real people who have got a personal tale to tell.
0:00:48 > 0:00:51Yes, did their stories turn out to be nightmares or dreams?
0:00:51 > 0:00:53Well, there's only one way to find out.
0:00:53 > 0:00:56Let's take a look at those properties that sold under the hammer.
0:00:57 > 0:01:00In Middlesex, it may look good, but has this three bed house got potential?
0:01:00 > 0:01:04You've got to spend an awful lot of that on this house
0:01:04 > 0:01:06to really bring it up to scratch.
0:01:07 > 0:01:10When it comes to this two bedroom terrace property in Cumbria,
0:01:10 > 0:01:12you'll need to be broad minded.
0:01:12 > 0:01:17It's very narrow, literally, I can touch both sides.
0:01:17 > 0:01:21And this pretty, three storey cottage in Maidstone
0:01:21 > 0:01:24looks a bit long in the tooth.
0:01:24 > 0:01:27Look at that! It certainly looks grim in there.
0:01:27 > 0:01:31All these properties have been sold at auction,
0:01:31 > 0:01:34and we'll find out who bought them and what they paid for them
0:01:34 > 0:01:37- when they went under the hammer. - Sold to you, sir.
0:01:40 > 0:01:42This is Uxbridge, to the west of London,
0:01:42 > 0:01:44where you can hop on the underground
0:01:44 > 0:01:46and be in central London in 40 minutes,
0:01:46 > 0:01:49Heathrow airport is only a ten minute drive away,
0:01:49 > 0:01:54and just ten minutes walk from the shops is the property I'm here to see,
0:01:54 > 0:01:57it's a three bed cottage in a picturesque spot.
0:01:57 > 0:02:00There's no vehicular access up to the property, although you
0:02:00 > 0:02:06can barge in, providing you've used the lock correctly, aha, confused?
0:02:06 > 0:02:10Well, you needn't be, because today's auction property is a canal side cottage,
0:02:10 > 0:02:12perfect on a lovely day like today.
0:02:14 > 0:02:22# As I walk down by the old canal,
0:02:22 > 0:02:27# I dreamed a dream as I recall. #
0:02:30 > 0:02:35What an idyllic place, and the house seems pretty spectacular too,
0:02:35 > 0:02:37considering property prices in London,
0:02:37 > 0:02:41the guide price of 225,000 seems a bit of a steal.
0:02:43 > 0:02:46You can only get to the house by foot along the tow path,
0:02:46 > 0:02:50which makes that dilapidated garage seem rather redundant,
0:02:50 > 0:02:53I'll probably get rid of it and increase the size of the plot.
0:02:53 > 0:02:55Well, it's lovely and sunny out there,
0:02:55 > 0:02:59but what a contrast when you're inside, oh, dear.
0:02:59 > 0:03:02Look at this place.
0:03:02 > 0:03:06It feels really cold on the inside, it smells incredibly damp,
0:03:06 > 0:03:10it's really dated and needs an horrendous amount of work,
0:03:10 > 0:03:12and I haven't even moved yet.
0:03:12 > 0:03:15There's the bathroom, there's the lounge,
0:03:15 > 0:03:17this is the kitchen.
0:03:17 > 0:03:22I have to say, I'm getting quite excited cos you've got a massive space here,
0:03:22 > 0:03:25there's an awful lot you could do with this place.
0:03:25 > 0:03:27But it all needs ripping out and starting again,
0:03:27 > 0:03:30but the reason why I'm so excited is because
0:03:30 > 0:03:37I would like to put a very contemporary, modern glass box on the end of this kitchen,
0:03:37 > 0:03:39and just look out there every morning
0:03:39 > 0:03:41and watch all the canal boats pass by.
0:03:44 > 0:03:50# Do you know how wonderful you are? #
0:03:51 > 0:03:55Mind you, that tow path is a public right of way,
0:03:55 > 0:03:59so anyone walking by will have just as good a view of you.
0:03:59 > 0:04:01So, if you're a private person,
0:04:01 > 0:04:04glass walls might not be the best idea.
0:04:06 > 0:04:09Inside, there are worrying signs of damp in the kitchen,
0:04:09 > 0:04:12and although the living room at the other end of the house
0:04:12 > 0:04:15is a lovely triple aspect room, there is more damp.
0:04:17 > 0:04:21And that's not the only concern that I've got here.
0:04:23 > 0:04:27There is something that just doesn't feel quite right about this house,
0:04:27 > 0:04:30look, it's like there's a wall there and a window,
0:04:30 > 0:04:34it's just not deep enough, you really expect it to be further this way.
0:04:34 > 0:04:37You've got a huge garden out there, you could easily extend,
0:04:37 > 0:04:40I would love to think you could double the depth of this house, it would really work.
0:04:40 > 0:04:44You've got two very small-ish bedrooms just here.
0:04:44 > 0:04:49One of the big down sides is you don't have a lovely, big family bathroom upstairs.
0:04:49 > 0:04:52What you do have is this nice master suite,
0:04:52 > 0:04:55it's lovely and sunny, you've got two big windows.
0:04:55 > 0:04:58I would never get fed up of waking up in here
0:04:58 > 0:05:00and just looking out there to the lock.
0:05:00 > 0:05:04With this property you've got a fantastic location,
0:05:04 > 0:05:07but you've got to spend an awful lot of that on this house
0:05:07 > 0:05:08to really bring it up to scratch.
0:05:11 > 0:05:14Although the bedrooms are fairly small,
0:05:14 > 0:05:17there are some lovely character features to restore,
0:05:17 > 0:05:20even if the only bathroom is downstairs on the ground floor,
0:05:20 > 0:05:23and that's going to need a complete refit.
0:05:25 > 0:05:27For a second opinion,
0:05:27 > 0:05:31we invited a local estate agent to come and take a look
0:05:31 > 0:05:35at this canal side gem, guided at 225,000.
0:05:35 > 0:05:38What a fantastic location, obviously great potential,
0:05:38 > 0:05:41I'd like to see the property extended.
0:05:41 > 0:05:45Upstairs, I'd like to see three bedrooms with a master en suite,
0:05:45 > 0:05:49downstairs, a big kitchen, country style, the heart of the property.
0:05:49 > 0:05:53I think the ideal buyer is going to be somebody that's working from home,
0:05:53 > 0:05:55and wants the peace and tranquillity,
0:05:55 > 0:05:58but we're only ten or eleven miles from central London
0:05:58 > 0:06:01and where, you know, the business links are going to be.
0:06:01 > 0:06:03If that layout was left the same,
0:06:03 > 0:06:07but the cottage was refurbished, how much could it then be worth?
0:06:07 > 0:06:10Once it's developed and refurbished,
0:06:10 > 0:06:13I would think that you're looking at a price of around about £300,000.
0:06:13 > 0:06:19And the renovated cottage could raise a potential rental income
0:06:19 > 0:06:20of £1,500 per calendar month.
0:06:20 > 0:06:23But of it was extended and fully refurbished,
0:06:23 > 0:06:24what could the valuation reach?
0:06:24 > 0:06:29The ceiling price of the property, three bedrooms, two bathrooms,
0:06:29 > 0:06:33making some use of the outbuildings, £450,000.
0:06:34 > 0:06:37This location couldn't be prettier,
0:06:37 > 0:06:40and with good transport links in close proximity,
0:06:40 > 0:06:42well, I think this is a good one to go for.
0:06:42 > 0:06:46My only concern is that renovation could be problematic,
0:06:46 > 0:06:48given there's no vehicular access.
0:06:48 > 0:06:53You could always bring building materials by barge, I suppose.
0:06:53 > 0:06:56Lets see who wanted this canal side cottage at the auction.
0:06:57 > 0:07:00Right, lot 89...
0:07:02 > 0:07:04..start low on this, I think, we'll start 200.
0:07:04 > 0:07:06200 anywhere?
0:07:06 > 0:07:10200, 205? 205.
0:07:10 > 0:07:13210, 215?
0:07:13 > 0:07:15220?
0:07:15 > 0:07:19225? 230?
0:07:19 > 0:07:20The lot attracted much interest,
0:07:20 > 0:07:24and was keenly contested by several interested parties.
0:07:24 > 0:07:28We rejoin the auction as the bidding reaches 283,000.
0:07:29 > 0:07:32283?
0:07:32 > 0:07:33284?
0:07:33 > 0:07:35285?
0:07:36 > 0:07:38284 with you, 285?
0:07:38 > 0:07:41285.
0:07:41 > 0:07:44286? 287?
0:07:44 > 0:07:45288?
0:07:45 > 0:07:47289?
0:07:47 > 0:07:48290?
0:07:48 > 0:07:51291?
0:07:52 > 0:07:55292? 293?
0:07:55 > 0:07:56292, first time,
0:07:56 > 0:08:01second time, third and last time if you're all done.
0:08:03 > 0:08:05Sold, 292.
0:08:06 > 0:08:11That final successful bid of 292,000 was made by Saul,
0:08:11 > 0:08:13he's a financial planner for a bank,
0:08:13 > 0:08:18and bought the house with his wife, Sonia, who's an IT trainee manager.
0:08:20 > 0:08:22They never intended to buy in London,
0:08:22 > 0:08:25they had their hearts set on a property in France
0:08:25 > 0:08:27where Sonia is from originally.
0:08:29 > 0:08:31But a chance viewing brought them to this canal side cottage,
0:08:31 > 0:08:34and they fell head over heels for the place.
0:08:34 > 0:08:38I went to meet them and hear about their plans.
0:08:38 > 0:08:41Guys, congratulations, you've got yourselves a corker of a property here,
0:08:41 > 0:08:45what's the story behind you buying this, then, Saul?
0:08:45 > 0:08:47Um, it's really by luck, Lucy.
0:08:47 > 0:08:51For the last seven years I've received the brochures
0:08:51 > 0:08:55from different auction houses, and just looked at a picture
0:08:55 > 0:08:56about a week before the auction.
0:08:56 > 0:08:59Asked Sonia whether she'd like to go and see it.
0:08:59 > 0:09:01We popped over for ten minutes,
0:09:01 > 0:09:03we'd never been to Uxbridge in our life,
0:09:03 > 0:09:06and then I had an appointment next door to where the auction was taking.
0:09:06 > 0:09:09Went to the auction, didn't believe I was going to buy the property,
0:09:09 > 0:09:11and it was Valentine's Day,
0:09:11 > 0:09:14and I just ended up bidding and won the property.
0:09:14 > 0:09:17So, did he get you a bunch of flowers on Valentine's Day?
0:09:17 > 0:09:18I think the house was enough.
0:09:18 > 0:09:20You bought her a house!
0:09:20 > 0:09:23Do you know what, I love stories like this.
0:09:23 > 0:09:28# Love is the sweetest thing... #
0:09:28 > 0:09:35A three bed canal side cottage is a pretty special present for your Valentine.
0:09:35 > 0:09:41But I wanted to know if this property purchase was love at first sight, or a slow burner.
0:09:41 > 0:09:42It was a rollercoaster,
0:09:42 > 0:09:46I think when we arrived it was such an unusual, beautiful setting,
0:09:46 > 0:09:49even though it was a very dreary, dark February day.
0:09:49 > 0:09:51We could still see the beauty of the place,
0:09:51 > 0:09:53and that really took us by surprise.
0:09:53 > 0:09:56Then, after that, we were really unsure,
0:09:56 > 0:10:00it was a rollercoaster of yes, no, yes, no, it changed pretty much every day.
0:10:00 > 0:10:02I think we bought the setting, not the house, so.
0:10:02 > 0:10:06That's a good thing, you can change the house, you can't change a setting.
0:10:06 > 0:10:12As we all know, location is absolutely crucial when it comes to buying a house,
0:10:12 > 0:10:14especially if it's going to be your home.
0:10:14 > 0:10:18What do you intend to do with this place?
0:10:18 > 0:10:22First of all, we're going to renovate as a first stage, the existing building itself.
0:10:22 > 0:10:25There's about 101 square metres.
0:10:25 > 0:10:29For us, we'd probably turn it into a one bedroom house.
0:10:29 > 0:10:32Then, on the second stage, what we'd like is planning approval
0:10:32 > 0:10:34to go and extend it by another 100 square metres.
0:10:34 > 0:10:39- OK, so doubling. - Basically, yes, if that's possible.
0:10:39 > 0:10:42If we can't, we still love the building.
0:10:42 > 0:10:44Sonia, what would your dream kitchen be?
0:10:44 > 0:10:47So, you walk into here, what do you want from this room here?
0:10:47 > 0:10:50The kitchen is always such an emotional room,
0:10:50 > 0:10:53I just want something nice, bright, with lots of light,
0:10:53 > 0:10:56I would love to have my lovely kitchen island,
0:10:56 > 0:10:58hopefully a bit bigger than this.
0:11:00 > 0:11:05Well, that all sounds fabulous, they secured the house for 292,000,
0:11:05 > 0:11:08but Saul had set himself a limit of 350,000,
0:11:08 > 0:11:12so, he saved a whopping 58 grand.
0:11:14 > 0:11:18That will come in handy, especially when there's so much damp here.
0:11:18 > 0:11:20How's he going to tackle that?
0:11:20 > 0:11:23Well, my brother's actually flying over, he's a developer,
0:11:23 > 0:11:25but he lives over in the States, in Washington DC.
0:11:25 > 0:11:30According to him, we need to damp course all the outside of the building,
0:11:30 > 0:11:32we need to look at what's going on with the drainage round here,
0:11:32 > 0:11:37and then we're going to be dry walling, OK, so we're going to have some sort of separation,
0:11:37 > 0:11:39it is a big issue, but it's solvable.
0:11:39 > 0:11:43Where are you going to get your materials from and how are you going to get them here?
0:11:43 > 0:11:44My brother, as I said, is a developer,
0:11:44 > 0:11:46and he does some high end projects,
0:11:46 > 0:11:50and he's offered to source all of the material we need,
0:11:50 > 0:11:54flooring, things like kitchens, and just ship it over from the US.
0:11:54 > 0:11:56That's a great idea.
0:11:57 > 0:12:00Because of the decline in the US housing market,
0:12:00 > 0:12:02some materials are being sold off there
0:12:02 > 0:12:06at heavily discounted prices compared to what we'd pay in the UK,
0:12:06 > 0:12:09so, it's much cheaper for Saul to ship them over here.
0:12:09 > 0:12:12So, guys, what sort of budget are you looking at to do the work here?
0:12:12 > 0:12:17I've estimated it very, very roughly at £100,000,
0:12:17 > 0:12:22that's assuming we get planning permission, if we don't we probably won't even need that budget.
0:12:22 > 0:12:24So, how involved are you going to be?
0:12:24 > 0:12:26Is it going to be a family effort?
0:12:26 > 0:12:29Saul and his brother are very, very close, and I completely trust him.
0:12:29 > 0:12:32I know I'm going to talk to him about what I want and my ideas,
0:12:32 > 0:12:35and I've got my little book of ideas for decoration,
0:12:35 > 0:12:37but I'm really happy to let him go on the roam and find me stuff,
0:12:37 > 0:12:40because so far we've always been on the same wavelength.
0:12:40 > 0:12:42Guys, it's been really exciting meeting you,
0:12:42 > 0:12:46seeing where your beautiful family home is going to be,
0:12:46 > 0:12:47good luck with this.
0:12:47 > 0:12:50- Thank you.- Thank you. - Thank you, Lucy.
0:12:55 > 0:12:58Sonia and Saul have big plans for this cottage,
0:12:58 > 0:13:03will they be successful with the planning and double the size of this place?
0:13:03 > 0:13:05With Saul's brother on hand to project manage this
0:13:05 > 0:13:09and building materials being shipped in from America to keep costs down,
0:13:09 > 0:13:13well, I can't see them having too much of a problem, but you never know.
0:13:13 > 0:13:17As we well know, properties do have a habit of throwing up problems.
0:13:17 > 0:13:20Join me later in the programme and you can find out what happens.
0:13:23 > 0:13:28I'm in the harbour town of Maryport, on the Solway estuary.
0:13:28 > 0:13:30There was a Roman port here,
0:13:30 > 0:13:36and its maritime history goes back over 2,000 years.
0:13:36 > 0:13:38Maryport is full of history,
0:13:38 > 0:13:42but the modern town itself was built only a few hundred years ago.
0:13:42 > 0:13:44Terraces were created in a grid system
0:13:44 > 0:13:47to house the workers in the local coal industry.
0:13:47 > 0:13:50Unfortunately, those jobs have long since gone,
0:13:50 > 0:13:53but the houses remain, and it's one of those I'm off to see.
0:13:53 > 0:13:57# Fly, fly, seagull won't you fly,
0:13:59 > 0:14:03# Find your way and make a new beginning... #
0:14:04 > 0:14:06Well, I'm on the outskirts of the town
0:14:06 > 0:14:09in a little suburb called Ellenborough,
0:14:09 > 0:14:11which takes its name from the River Ellen.
0:14:11 > 0:14:14I'm here to see one of these, a mid terrace.
0:14:14 > 0:14:17Had a guide price of just £30,000,
0:14:17 > 0:14:21which, for a two bed, sounds like a bit of a snip.
0:14:22 > 0:14:25I'm not expecting anything too dramatic in terms of the layout,
0:14:25 > 0:14:28I mean, basically, this is what it is.
0:14:28 > 0:14:31What have we got, through the front door, straight in to your living room.
0:14:31 > 0:14:34Somebody's obviously had a go at modernising it a little bit
0:14:34 > 0:14:36with the fireplace, but it's not bad.
0:14:36 > 0:14:40Although, straight away, I'm smelling damp.
0:14:40 > 0:14:43Do use all your senses when you look round properties, your eyes,
0:14:43 > 0:14:45your ears and your nose.
0:14:45 > 0:14:49And there's just a, you get that, and in fact, look at that.
0:14:50 > 0:14:53That's not just a different coloured paint,
0:14:53 > 0:14:55that is actually wet down there.
0:14:55 > 0:14:58That's very unusual because that is an internal wall.
0:14:58 > 0:15:02And the floors, they're not solid, they're wooden,
0:15:02 > 0:15:05so, very unusual, oh, dear.
0:15:05 > 0:15:09It goes on over here as well. Look at that, completely wet.
0:15:09 > 0:15:13Oh, again, unusual to have it on that kind of wall,
0:15:13 > 0:15:16you'd expect that kind of damp to be on an exterior wall,
0:15:16 > 0:15:20not an interior wall, because there's another property over there.
0:15:20 > 0:15:22That's got me puzzled.
0:15:22 > 0:15:27# Ain't that strange yeah yeah yeah,
0:15:27 > 0:15:29# Ain't that strange... #
0:15:30 > 0:15:32There are patches of damp everywhere,
0:15:32 > 0:15:35even on a wall in the middle of the property,
0:15:35 > 0:15:37so it's not penetrating damp.
0:15:38 > 0:15:40But whilst that's all very puzzling,
0:15:40 > 0:15:44when it comes to the layout of this terrace, there are no surprises.
0:15:44 > 0:15:48Well, I was expecting to find that, basically,
0:15:48 > 0:15:52the loo and the bathroom right at the rear of the property here,
0:15:52 > 0:15:53that you access through the kitchen.
0:15:53 > 0:15:56Very traditional layout for this kind of property.
0:15:56 > 0:15:57Well, you know, it is what it is.
0:15:57 > 0:16:01You might want to expand it, possibly, into this area here,
0:16:01 > 0:16:04um, but I think people would accept that.
0:16:04 > 0:16:07What I don't think is good at all is this kitchen.
0:16:07 > 0:16:13It's very narrow, literally, I can touch both sides with my hands
0:16:13 > 0:16:15and, you know, you're working at the sink here,
0:16:15 > 0:16:20then you open the cupboard, and it's not ideal at all.
0:16:20 > 0:16:23And I don't know what else you could do about it.
0:16:23 > 0:16:26Maybe, again, you just live with it as it is.
0:16:28 > 0:16:31The bedrooms upstairs are more generous in size,
0:16:31 > 0:16:35but there are still signs of that mystery damp appearing up here as well.
0:16:37 > 0:16:40However, at the back, you're stuck for space in the small yard.
0:16:40 > 0:16:43But, all in all, I think this property has a lot of potential,
0:16:43 > 0:16:47once you've got to the bottom of those damp patches, of course.
0:16:51 > 0:16:54What does the auctioneer who sold the property
0:16:54 > 0:16:57think of this terraced house, guided at 30,000?
0:16:59 > 0:17:02I'm pleasantly surprised with this property actually,
0:17:02 > 0:17:06although there's some attention required to some damp throughout the property,
0:17:06 > 0:17:09that certainly needs to be checked out,
0:17:09 > 0:17:13but once done up it'll be popular to both the residential sales market
0:17:13 > 0:17:14and the rental market.
0:17:14 > 0:17:17So, once that work's been done,
0:17:17 > 0:17:20how much could this property re-sell for?
0:17:20 > 0:17:21I think, once renovated,
0:17:21 > 0:17:28this property would fetch a figure probably around £65,000.
0:17:28 > 0:17:32What if the new owner was to put it on the rental market?
0:17:32 > 0:17:35I think if this property was exposed to the rental market,
0:17:35 > 0:17:39it would achieve a figure around £375 per calendar month.
0:17:41 > 0:17:43Well, it's not a bad little house,
0:17:43 > 0:17:45and it could deliver some good yield,
0:17:45 > 0:17:46but I am concerned about that damp.
0:17:46 > 0:17:49I don't like it when I don't know what's going on.
0:17:49 > 0:17:52Lets see who it didn't put off when it went under the hammer.
0:17:52 > 0:17:55Well, moving on now to lot number 16,
0:17:55 > 0:17:58there's a reduced guide on this, ladies and gentlemen,
0:17:58 > 0:18:00we're down now, £30-40,000.
0:18:00 > 0:18:0330 anywhere to start off in the room?
0:18:03 > 0:18:0730 I've got at the back, at £30,000,
0:18:07 > 0:18:0931 on the phone.
0:18:09 > 0:18:10Back to you, madam, 32?
0:18:10 > 0:18:1333, I've got, 34, madam?
0:18:13 > 0:18:1535? 35, I've got.
0:18:15 > 0:18:1836? 37?
0:18:20 > 0:18:2137.
0:18:21 > 0:18:2338, madam? 39?
0:18:23 > 0:18:2739. 40? 41?
0:18:29 > 0:18:3340, I've got, we're selling this, by the way.
0:18:34 > 0:18:37Half with you, 41? And a half?
0:18:39 > 0:18:42At £41,000 with you, madam, for the first time,
0:18:42 > 0:18:4343, may I say?
0:18:43 > 0:18:4542.
0:18:45 > 0:18:4743, madam?
0:18:47 > 0:18:4844?
0:18:49 > 0:18:52Shake of the head at 44, it's with you at the back,
0:18:52 > 0:18:54with you all the way at 43.
0:18:54 > 0:18:58I'm selling it at £43,000 to the rear, first time,
0:18:58 > 0:19:01at £43,000 for the second time,
0:19:01 > 0:19:05at £43,000 then, third and final time.
0:19:05 > 0:19:07Sold, well done, madam.
0:19:07 > 0:19:09She was there right from the start,
0:19:09 > 0:19:14and the lady who finally managed to get the house for £43,000 was Linda.
0:19:16 > 0:19:19She lives locally and is a former chef.
0:19:20 > 0:19:23# Saltines, sardines, hot sauce and onion rings,
0:19:23 > 0:19:25# Georgia peaches, cottage cheese,
0:19:25 > 0:19:27# Lettuce and whipped cream, Yum yum... #
0:19:27 > 0:19:30So, will this property be perfectly seasoned,
0:19:30 > 0:19:32or will it leave a bad taste in her mouth?
0:19:32 > 0:19:34I caught up with Linda to find out.
0:19:36 > 0:19:39- Linda, lovely, to meet you, congratulations.- Thank you.
0:19:39 > 0:19:44- Why did you want to buy this place? - Um, just to do it up and sell on, hopefully, in January.
0:19:44 > 0:19:45OK, is that something you've done before?
0:19:45 > 0:19:48- Yes, it is.- How many times?
0:19:48 > 0:19:50- About eight.- Eight?- Yes.
0:19:50 > 0:19:52And you've sold those on, or what?
0:19:52 > 0:19:57Um, kept six of them, they're rented out, and two we sold on.
0:19:57 > 0:20:00- Why this particular property then? - Well, it was at auction,
0:20:00 > 0:20:03and it looked cheap in the catalogue,
0:20:03 > 0:20:05and I live just round the corner,
0:20:05 > 0:20:07so it seemed like a good idea at the time.
0:20:07 > 0:20:10OK, has your opinion changed?
0:20:10 > 0:20:13Well, there's a bit more damp than we thought there was
0:20:13 > 0:20:18when we originally saw it, but it's all sort-able, it's all do-able.
0:20:18 > 0:20:22Any idea where the damp is coming from? Because it confused me a bit, cos it's really strange.
0:20:22 > 0:20:25Apparently, they've renovated next door,
0:20:25 > 0:20:27and this has appeared since that was done,
0:20:27 > 0:20:30so we're not exactly sure where it's come from.
0:20:30 > 0:20:32So, what are you going to do to remedy that, for a start?
0:20:32 > 0:20:35Well, we're going to take expert advice on damp proofing,
0:20:35 > 0:20:38because that's not something we would mess about with.
0:20:38 > 0:20:41So, you keep on talking about "we", who are you doing this with?
0:20:41 > 0:20:44I've bought it with a friend, Kath,
0:20:44 > 0:20:47so, she has a property in Maryport as well that she rents out,
0:20:47 > 0:20:49- she did one last year.- Right.
0:20:49 > 0:20:51So, this is our first joint venture.
0:20:51 > 0:20:54OK, how did that joint venture come about?
0:20:54 > 0:20:57Um, over a few glasses of wine one night, really.
0:20:57 > 0:21:00There was about six of us, and we were just chatting
0:21:00 > 0:21:04and thought it would be a good idea if we did one together.
0:21:04 > 0:21:07# Come share the wine,
0:21:07 > 0:21:12# No one is a stranger here They're your friends and mine... #
0:21:14 > 0:21:16Luckily, once the effects of the wine had worn off,
0:21:16 > 0:21:19it still seemed like a good idea for Linda and her friend Kath.
0:21:19 > 0:21:24They thought this property had the potential they were looking for.
0:21:24 > 0:21:27So, talk me through exactly what you are going to do to the place.
0:21:27 > 0:21:30Well, originally, we were just going to sort the damp out
0:21:30 > 0:21:32and decorate the whole place throughout.
0:21:32 > 0:21:36But looking at the kitchen now, I don't think it's a workable kitchen,
0:21:36 > 0:21:39we're thinking that we'll move the kitchen here and have a kitchen-diner.
0:21:39 > 0:21:40Oh, wow.
0:21:40 > 0:21:45And utility room, bathroom has to stay where it is, unfortunately.
0:21:45 > 0:21:49OK, so you'll still have a front room, and this will be a nice sized kitchen.
0:21:49 > 0:21:51- Yes, yes.- Oh, that's a good idea. - That's plan A.
0:21:51 > 0:21:53Linda has a budget of £5,000,
0:21:53 > 0:21:57which includes money to get that damp sorted out properly.
0:21:57 > 0:22:01She and Kath will get some professional help
0:22:01 > 0:22:03with jobs like plastering and plumbing,
0:22:03 > 0:22:05but other than that, it'll be down to them.
0:22:05 > 0:22:09- Do you enjoy this kind of thing? - Yes, I do, love it, getting mucky.
0:22:09 > 0:22:12When you start knocking plaster off, and ripping carpets up,
0:22:12 > 0:22:16it's just nice, you've just got the radio on and you're plodding along on your own,
0:22:16 > 0:22:18and it's just fun, I enjoy it.
0:22:18 > 0:22:22- Are you good at putting things back together again? - Not bad, I don't think.
0:22:22 > 0:22:24And then the idea with this one is what,
0:22:24 > 0:22:26to sell it on, or to keep it and rent it out?
0:22:26 > 0:22:27Sell it on, hopefully,
0:22:27 > 0:22:30we'll have to see what the market's doing, obviously.
0:22:30 > 0:22:33But the rental market round here is quite good,
0:22:33 > 0:22:35so, we'll see what the market's doing
0:22:35 > 0:22:38and if we think it's not going to sell, we'll rent it.
0:22:38 > 0:22:41- Great, well, good luck with it all. - Thank you very much.
0:22:41 > 0:22:43- And I wish you all the best. - Thank you, thanks.
0:22:43 > 0:22:46Well, Linda and her new business partner, Kath,
0:22:46 > 0:22:49certainly seem to have the experience to sort out any problems
0:22:49 > 0:22:51that this mid-terrace might throw up,
0:22:51 > 0:22:54but I am a little bit concerned about that damp,
0:22:54 > 0:22:59and with just a £5,000 budget to sort out, it's going to be tight.
0:22:59 > 0:23:02You can find out how they get on later in the show.
0:23:03 > 0:23:05Still to come in Maidstone.
0:23:05 > 0:23:10This lovely period property may look good outside, but inside...
0:23:10 > 0:23:12Maybe that is why it was cheap?
0:23:13 > 0:23:17In Cumbria, did the all-girl DIY team of Linda and Kath
0:23:17 > 0:23:19get the job done themselves?
0:23:19 > 0:23:23Sometimes had to have some male help with the heavy stuff.
0:23:24 > 0:23:26But first, have Saul and Sonia
0:23:26 > 0:23:29fallen in love with the art of renovation?
0:23:29 > 0:23:33I can't say I enjoyed it. DIY is not for me.
0:23:40 > 0:23:44When buying a house, sometimes the location is all that matters.
0:23:44 > 0:23:46And it was the setting of this two-bed cottage
0:23:46 > 0:23:50by a canal in Uxbridge, Middlesex that's attracted Saul,
0:23:50 > 0:23:55a financial adviser and his wife, Sonia, and IT training manager.
0:23:55 > 0:23:57They bought it for 292,000,
0:23:57 > 0:24:01but getting it came as a surprise to them.
0:24:01 > 0:24:04Went to the auction, didn't believe I was going to buy the property.
0:24:04 > 0:24:07And it was Valentine's Day and I ended up bidding
0:24:07 > 0:24:08and won the property.
0:24:08 > 0:24:11So, did he get you a bunch of flowers for Valentine's Day?
0:24:11 > 0:24:14I think the house was enough!
0:24:14 > 0:24:16Flowers would have been cheaper!
0:24:16 > 0:24:19The couple had plans to build an extension and live here.
0:24:19 > 0:24:24Armed with £100,000 budget and a 12-month timescale,
0:24:24 > 0:24:27Saul and Sonia plan to create something with charm
0:24:27 > 0:24:31and character to match its setting.
0:24:31 > 0:24:34Well, 11 months later and from the canal side,
0:24:34 > 0:24:38the cottage doesn't appear to have had too many changes.
0:24:38 > 0:24:39And the rear?
0:24:39 > 0:24:44There is no sign of an extension but there are some new French windows.
0:24:44 > 0:24:47But, with this place it's the inside that counts.
0:25:13 > 0:25:18If you remember, initially it was a very much closed in room.
0:25:18 > 0:25:20We tried to open it up as much as possible.
0:25:20 > 0:25:21We got rid of the entrance door
0:25:21 > 0:25:25and we got rid of the wall that used to separate what used to be
0:25:25 > 0:25:29the bathroom, and is now the hallway, dining room.
0:25:29 > 0:25:32There also used to be a boiler room in that corner.
0:25:32 > 0:25:34We knocked the walls down, obviously
0:25:34 > 0:25:38and that allowed the light from the window to pour into the kitchen.
0:25:38 > 0:25:41And I think the biggest transformation was to
0:25:41 > 0:25:44put in the French windows in that wall.
0:25:44 > 0:25:47It looks nice and bright and open plan.
0:25:47 > 0:25:50And I think the main feature of the room is about the cooker
0:25:50 > 0:25:54and the fireplace we've added, just to make it the focus point
0:25:54 > 0:25:56in the kitchen.
0:25:56 > 0:25:59It was just an internet find Saul came across
0:25:59 > 0:26:01and thought it would look nice, so we went for it.
0:26:01 > 0:26:04I think the kitchen looks absolutely brilliant.
0:26:04 > 0:26:08It's absolutely lovely to be able to see the garden, the wildlife and the birds.
0:26:08 > 0:26:13And the amount of light pouring into this room makes it very pleasant.
0:26:17 > 0:26:20Wooden floors and exposed brickwork certainly lends character
0:26:20 > 0:26:23and warmth to the ground floor.
0:26:23 > 0:26:26And that sense of style continues upstairs.
0:26:28 > 0:26:31Here I think has been some of the biggest changes.
0:26:31 > 0:26:36If you remember we had a corridor just where I am standing.
0:26:36 > 0:26:38This was a really small door so we've widened this.
0:26:38 > 0:26:42And then we had a wall because this was a really small bedroom.
0:26:42 > 0:26:46And then there was the supposedly larger bedroom over there.
0:26:46 > 0:26:49So, we removed all those walls making it one room
0:26:49 > 0:26:52and we've doubled the amount of windows for it.
0:26:52 > 0:26:55There used to be two fireplaces, so we've got this fireplace here.
0:26:55 > 0:26:59And then we've gone and put in cabinet space.
0:26:59 > 0:27:01We've achieved I think what we set out to do,
0:27:01 > 0:27:04which was to get a sense of space.
0:27:04 > 0:27:06We managed to focus the room on the views over the canal
0:27:06 > 0:27:10and onto the garden, so we are really happy.
0:27:10 > 0:27:13And it doesn't end there.
0:27:13 > 0:27:16The charm is carried over into a relaxing new bathroom suite,
0:27:16 > 0:27:20and again, the style is driven by a wonderful character feature.
0:27:22 > 0:27:26Saul's brother did come over from the United States to help
0:27:26 > 0:27:28project manage this impressive renovation.
0:27:28 > 0:27:32It was the contractors who gutted this entire property
0:27:32 > 0:27:34and refurbished it from scratch.
0:27:34 > 0:27:37So, did the couple ever get their own hands dirty?
0:27:38 > 0:27:43We did a bit of painting, we're not painters and we are not builders.
0:27:43 > 0:27:46We actually did a lot more than he lets on.
0:27:46 > 0:27:50I did a little bit. I can't say I enjoyed it.
0:27:50 > 0:27:53DIY is not for me, I am really, really lucky that he loves it
0:27:53 > 0:27:56because then I could just pass it on and get on with the rest of my life.
0:27:56 > 0:27:59I'm glad we did it, looking back it's great.
0:27:59 > 0:28:01But I wouldn't want to do it again, personally.
0:28:03 > 0:28:05Well, Sonia may have to put up with a bit more work,
0:28:05 > 0:28:09as they still plan to add a two-storey extension.
0:28:09 > 0:28:12That will add another two bedrooms.
0:28:12 > 0:28:16They also plan to build a carriage house in the garden for guests.
0:28:16 > 0:28:20After that, the garden might look a bit cramped, but they've managed
0:28:20 > 0:28:23to acquire some land from British waterways, who own the canal.
0:28:24 > 0:28:29And when complete, this will be a grand site on the edge of the canal.
0:28:30 > 0:28:33They did originally plan for a £100,000 budget,
0:28:33 > 0:28:36which would have included the extension.
0:28:36 > 0:28:40But, even without one, just getting this wonderful renovation done
0:28:40 > 0:28:42must have cost a pretty penny.
0:28:42 > 0:28:44I bought it for £292,000.
0:28:45 > 0:28:51We have spent about £45,000 so far in the build outs.
0:28:51 > 0:28:53And then on top of that I bought this land and that cost me
0:28:53 > 0:28:55another £12,500.
0:28:56 > 0:28:58So, we're looking at about £350,000.
0:28:58 > 0:29:01Saul and Sonia have created a wonderful,
0:29:01 > 0:29:03spacious new home for themselves,
0:29:03 > 0:29:05but at the sacrifice of having two bedrooms.
0:29:05 > 0:29:11So is 350,000 a lot of money for what is essentially a one bedroom house?
0:29:11 > 0:29:14We didn't buy it as an investment.
0:29:15 > 0:29:17We bought it as a home.
0:29:17 > 0:29:20And for that, it has given us a lot of value.
0:29:22 > 0:29:23Talking of value,
0:29:23 > 0:29:27it's time to find out what two local estate agents think,
0:29:27 > 0:29:30of their £350,000 investment.
0:29:32 > 0:29:34From the work carried out over the last ten months,
0:29:34 > 0:29:37the property is in lovely condition.
0:29:37 > 0:29:40There's a lot of thought gone into what they've done with each room.
0:29:40 > 0:29:44The kitchen is fabulous, really opened that up into a family area.
0:29:44 > 0:29:47And yeah, all very nice. An excellent job.
0:29:47 > 0:29:52My first impressions of this property is it is a very outstanding,
0:29:52 > 0:29:54highly individual property.
0:29:54 > 0:29:58Renovated to a very nice standard. Very tastefully decorated.
0:29:58 > 0:30:03Positive feedback from the experts, but if Saul and Sonia
0:30:03 > 0:30:07ever decide to move on, what could a resale achieve?
0:30:07 > 0:30:10As I see the property today as a one-bedroom property,
0:30:10 > 0:30:14I would value in the region of £375,000.
0:30:14 > 0:30:19As a one-bedroom property, it's quite hard to put an exact value,
0:30:19 > 0:30:23but somewhere in the region of £350-£375,000.
0:30:23 > 0:30:26Those valuations range from a breakeven point,
0:30:26 > 0:30:30to a pre-tax profit of £25,000.
0:30:30 > 0:30:32Actually, it's a lot more than I thought.
0:30:32 > 0:30:36I thought I might have devalued the property by making
0:30:36 > 0:30:38it a one bedroom building.
0:30:38 > 0:30:41So, I'm quite encouraged about that.
0:30:41 > 0:30:44But that was never the aim, the aim was a lifestyle
0:30:44 > 0:30:47and I'm very happy with that.
0:30:47 > 0:30:50The estate agents reckon the proposed extension would
0:30:50 > 0:30:55possibly raise the property value up to £450,000.
0:30:55 > 0:30:58Alternatively, possible rental income on the existing
0:30:58 > 0:31:02one-bed house could be from £1200-£1500 per calendar month.
0:31:09 > 0:31:13But for now, this is the place Saul and Sonia have set their hearts on.
0:31:13 > 0:31:18And from what they say, I think they are pretty much here to stay.
0:31:18 > 0:31:21Yes, we are really happy. We love it as a place to live.
0:31:21 > 0:31:23It feels like home. Most definitely.
0:31:23 > 0:31:26For a first home, I think we did ourselves proud.
0:31:26 > 0:31:31It was painful at times, but well worth it and it's home for us now.
0:31:37 > 0:31:41Maidstone in Kent is just 32 miles from London,
0:31:41 > 0:31:44and the direct train can get you there in under an hour.
0:31:44 > 0:31:46So, this is perfect commuter territory.
0:31:46 > 0:31:50# This is the sound of the suburbs... #
0:31:51 > 0:31:56When these streets were built in the 1840s, rail travel was taking off,
0:31:56 > 0:31:57the penny post was established,
0:31:57 > 0:32:01Queen Victoria was a young girl with a 22 inch waist,
0:32:01 > 0:32:04and women wore bonnets and men wore frock coats.
0:32:04 > 0:32:08The ordinary working-class families who lived in these houses however,
0:32:08 > 0:32:11would have had more pressing issues at hand,
0:32:11 > 0:32:15and, I'm sure, been bewildered that their humble, draughty homes
0:32:15 > 0:32:18would get 21st-century pulses racing.
0:32:18 > 0:32:20But they do!
0:32:20 > 0:32:24Now, will there be period features, stripped floorboards and character?
0:32:24 > 0:32:28I do hope so. Now, the property itself is this one here.
0:32:28 > 0:32:32It had a guide price of 95 to 100,000.
0:32:35 > 0:32:38The street it's in is rather attractive and the imposing
0:32:38 > 0:32:43three-storey property I've come to see is in a prominent spot at the end of a terrace.
0:32:43 > 0:32:45It looks fairly promising.
0:32:46 > 0:32:50Oh! It's obvious I've just walked into a reception
0:32:50 > 0:32:53area of a dentist surgery.
0:32:53 > 0:32:56Look at that! It looks grim in there,
0:32:56 > 0:33:00but I know this place has been empty for many, many years.
0:33:00 > 0:33:04It's really not what I was expecting. Very disappointing.
0:33:04 > 0:33:07It's more clinical than characterful,
0:33:07 > 0:33:10and far too coral, if you ask me.
0:33:10 > 0:33:13You really do need to get everything out of here and chuck it in a skip.
0:33:13 > 0:33:17Look at this. It's like a little pub seating area. It's very dark.
0:33:17 > 0:33:19You can see the walls have been taken out.
0:33:19 > 0:33:21You've got partitions everywhere.
0:33:21 > 0:33:25You've got a rather sort of large light and bright room at the back,
0:33:25 > 0:33:29but, again, it's terribly dated.
0:33:29 > 0:33:34It's certainly not what you expect from a property of this period.
0:33:34 > 0:33:36I'm really disappointed
0:33:36 > 0:33:40but, hey ho, maybe that is why it was cheap.
0:33:40 > 0:33:45# Such a crying, crying, crying shame
0:33:45 > 0:33:47# Shame, shame... #
0:33:47 > 0:33:53It's a shame the period features have been extracted from this old dentist practice
0:33:53 > 0:33:57and, brace yourself, because since it had a what's called a D1 Usage
0:33:57 > 0:34:00For Provision Of Health And Services,
0:34:00 > 0:34:05you'd have to apply for consents to convert it back into a home.
0:34:05 > 0:34:07Now, for the purpose of this viewing,
0:34:07 > 0:34:09I've got to think of this as a house.
0:34:09 > 0:34:13Somewhere where somebody can live happily and comfortably
0:34:13 > 0:34:15because, at the moment, it's just not doing it.
0:34:15 > 0:34:18You've got a very small toilet area through there.
0:34:18 > 0:34:19What was, I think, a kitchen.
0:34:19 > 0:34:24So, straight away, you need to knock these two into one
0:34:24 > 0:34:26and have a nice luxury bathroom.
0:34:26 > 0:34:27You've got to get rid of all this.
0:34:27 > 0:34:30It's all incredibly pinched. You've got a staircase coming down.
0:34:30 > 0:34:32A radiator hanging out.
0:34:32 > 0:34:37Woodchip wallpaper which is draining all the light.
0:34:37 > 0:34:38Now, this gets a little better.
0:34:38 > 0:34:42You've got to look beyond the nightmare situation in here.
0:34:42 > 0:34:44The plumbing, the electrics.
0:34:44 > 0:34:46You've got a sink in the middle of the room.
0:34:46 > 0:34:49And think about this as a bedroom.
0:34:49 > 0:34:51You've got heaps of storage through there
0:34:51 > 0:34:53so once you have cleared all of that out,
0:34:53 > 0:34:55you could put all of your wardrobe stuff in there.
0:34:55 > 0:34:58You've got a really nice big window which lets in lots of light
0:34:58 > 0:35:03and I think it's still in good working order, which is a big tick.
0:35:03 > 0:35:05So, so far, this is definitely my favourite room.
0:35:05 > 0:35:09Let's hope upstairs continues in the same vein.
0:35:09 > 0:35:14So it's getting better and the top floor is actually OK.
0:35:14 > 0:35:17There are two rooms, featureless, of course, but pleasant.
0:35:17 > 0:35:21Square and a reasonable size.
0:35:21 > 0:35:24There's also a cellar.
0:35:24 > 0:35:27In terms of outside space, there's a car park not a garden
0:35:27 > 0:35:29but still a plus point.
0:35:29 > 0:35:33So let's consider if you're not a health practitioner,
0:35:33 > 0:35:35who would want a place like this?
0:35:35 > 0:35:40This would be a perfect home for a couple of young professionals.
0:35:40 > 0:35:43Now, you don't have a proper garden but you do have parking.
0:35:43 > 0:35:46You've got a very short walk to the shops and the train station.
0:35:46 > 0:35:49That is just a ten-minute stroll away. It's ideal.
0:35:49 > 0:35:52In my opinion, get rid of the commercial angle,
0:35:52 > 0:35:55make it a home, broaden the market, and bingo,
0:35:55 > 0:35:58you'll be sitting pretty with a profit on your hands.
0:35:58 > 0:36:01Try to rent or sell with a D1 Usage,
0:36:01 > 0:36:04and I think it will be like pulling teeth.
0:36:08 > 0:36:12So it's down to that all-important change of use.
0:36:12 > 0:36:15And while this looks like a house from the outside
0:36:15 > 0:36:17and it's on a mostly residential street,
0:36:17 > 0:36:21there are no guarantees the council will pass the application
0:36:21 > 0:36:23but I'd be surprised if they didn't.
0:36:23 > 0:36:25What does a local estate agent
0:36:25 > 0:36:30think of this place guided at £90,000-£100,000?
0:36:30 > 0:36:33It's an excellent residential location
0:36:33 > 0:36:35but it's going to suit somebody that wants to be in the town.
0:36:35 > 0:36:38It needs work. The property needs a great deal of work
0:36:38 > 0:36:41but it would be ideal for a family home.
0:36:41 > 0:36:44If converted back to a fully functioning three-bed house,
0:36:44 > 0:36:48what could it earn in a rental market?
0:36:48 > 0:36:49It would rent very well
0:36:49 > 0:36:52and I think you'd probably get about £900 per calendar month.
0:36:52 > 0:36:56And if sold on as a house?
0:36:56 > 0:36:59If it's done up to a reasonable standard, I would suggest
0:36:59 > 0:37:04£180,000, but I reckon if they do a really good job
0:37:04 > 0:37:06maybe £190,000.
0:37:06 > 0:37:08This could be a wonderful little home
0:37:08 > 0:37:10and a really rather fabulous investment.
0:37:10 > 0:37:12Forget the dentists.
0:37:12 > 0:37:14Turn it back into one house
0:37:14 > 0:37:18and you can have a great rental or resale opportunity.
0:37:18 > 0:37:20Let's see who spotted it at the auction.
0:37:22 > 0:37:26As this lot came at the end of the auction, there's a few empty seats.
0:37:26 > 0:37:28Where do you want to start me on this one?
0:37:28 > 0:37:33Start me at 90. Start me cheap, £90,000. Where do you want to start?
0:37:33 > 0:37:38Start me at 85, then. 85, I'm obliged. 85 on the way. At 85.
0:37:38 > 0:37:43And 90 now I'm looking for. 90, I have. And five again. At 95.
0:37:43 > 0:37:47Take 92 if it helps someone. 92. 92 obviously does. At 92.
0:37:47 > 0:37:52At £92,000, I've got. 95, I'm looking for. 95 right at the back.
0:37:52 > 0:37:5995, just in time, at 95. £97,000 I'm looking for.
0:37:59 > 0:38:01It's in the room to sell at £95,000.
0:38:01 > 0:38:03Otherwise, at £95,000, the first time.
0:38:03 > 0:38:05£95,000 for the second.
0:38:05 > 0:38:09At £95,000, third and final time
0:38:09 > 0:38:12if you're sure you're all done.
0:38:12 > 0:38:14It's yours, sir, at the back for £95,000.
0:38:14 > 0:38:19Those successful bidders who bought the former dental surgery for 95,000
0:38:19 > 0:38:20were Gary, here on the left,
0:38:20 > 0:38:23and his business partner Poodle on the right.
0:38:23 > 0:38:26That's right, Poodle!
0:38:26 > 0:38:28The pair have worked together for years
0:38:28 > 0:38:31refurbishing houses for insurance companies
0:38:31 > 0:38:34but this is the first property development of their own
0:38:34 > 0:38:35and something of a new beginning.
0:38:35 > 0:38:39# Let's make a new beginning... #
0:38:39 > 0:38:40Gary and Poodle.
0:38:40 > 0:38:43Now, Poodle, I've never met anybody with that name before.
0:38:43 > 0:38:46- Is that your real name or your nickname?- It's my nickname.
0:38:46 > 0:38:51- And why are you called Poodle? - It's basically what you see on top.
0:38:51 > 0:38:54- Is it the hair?- Yes.- Is it the hairdo? So what is your real name?
0:38:54 > 0:38:57- Gary.- So you're Gary and you're Gary? I think we'll stick to Poodle.
0:38:57 > 0:39:00- It's a little bit easier, isn't it? - We'll stick to Poodle.- Yeah.
0:39:00 > 0:39:03Why did you want this house? What is it that appealed to you and Gary?
0:39:03 > 0:39:06It was the price, really, basically.
0:39:06 > 0:39:11That is all it really was because we went there to see other properties
0:39:11 > 0:39:15but they was going over priced and this one come up at the price.
0:39:15 > 0:39:18- Were you happy with the price you paid?- Yeah, very happy.
0:39:18 > 0:39:20And how much more would you have paid?
0:39:20 > 0:39:25- We did have it written in our book at 130, didn't we?- That's right.
0:39:25 > 0:39:26So, yeah, we're very happy.
0:39:26 > 0:39:30So why have you bought this, for yourselves or to rent out?
0:39:30 > 0:39:35- Turnaround.- So what do you do, Poodle?- I'm a decorator.- And Gary?
0:39:35 > 0:39:38- Electrician.- Perfect! Match made in heaven.
0:39:38 > 0:39:45# Made in heaven, made in heaven... #
0:39:45 > 0:39:48Add to that Gary's son who's a plumber,
0:39:48 > 0:39:51and, bingo, you've almost all the trades lined up.
0:39:51 > 0:39:54With Gary's sister and equal partner financially,
0:39:54 > 0:39:58there's a tight knit and skilled little team here.
0:39:58 > 0:40:01They have a budget of 20,000 and reckon it will take them
0:40:01 > 0:40:03a couple of months to do the work.
0:40:03 > 0:40:06So what are their plans?
0:40:06 > 0:40:08We're going to knock a few walls down downstairs.
0:40:08 > 0:40:11Upstairs, we're not going to alter a lot.
0:40:11 > 0:40:14We'll make the bathroom and toilet into one room. It's got three nice sized bedrooms.
0:40:14 > 0:40:17Down here, we're going to open plan this quite a bit
0:40:17 > 0:40:19and make it a nice through lounge.
0:40:19 > 0:40:23And we're going to put a nice sized kitchen, possibly French doors here
0:40:23 > 0:40:26just too divide it possibly, but we're going to keep the WC
0:40:26 > 0:40:28and knock down that wall there.
0:40:28 > 0:40:31- Absolutely, great idea.- That's all we could come up with, really.
0:40:31 > 0:40:33You're thinking of giving it a contemporary twist
0:40:33 > 0:40:35and not going down the traditional route?
0:40:35 > 0:40:37There is no tradition in here, really,
0:40:37 > 0:40:41apart from the sash windows, is there?
0:40:41 > 0:40:43Even the sash windows are completely different sash windows.
0:40:43 > 0:40:45I'd like uniform windows there.
0:40:45 > 0:40:47That's what we'll do. It will be UPVC sash windows.
0:40:47 > 0:40:51- Oh, no!- Yeah, but sash.
0:40:51 > 0:40:54I think it would look beautiful if they weren't UPVC
0:40:54 > 0:40:58but I hear what you're saying and if it's for rental purposes,
0:40:58 > 0:41:01that's probably what you should do as much as I hate to say that.
0:41:01 > 0:41:03Well, it's not, we do plan on selling it,
0:41:03 > 0:41:06- so we haven't looked into the wood line yet, have we?- No.
0:41:06 > 0:41:08We could go for wood.
0:41:08 > 0:41:10# I'm undecided about what to do
0:41:10 > 0:41:14# I'm undecided about me and you... #
0:41:14 > 0:41:18I think that would make a difference to the kerb appeal and give it a classier edge,
0:41:18 > 0:41:22but I do feel as though we are slightly racing ahead of ourselves.
0:41:22 > 0:41:26Isn't there one rather large issue that needs to be sorted first?
0:41:28 > 0:41:33What if you don't get permission to change around and convert this into a residential property?
0:41:33 > 0:41:34We can't see it being a problem
0:41:34 > 0:41:38but if there is a problem, we've got a problem.
0:41:38 > 0:41:41You've got a huge problem. Do you have a plan B, Gary?
0:41:41 > 0:41:42Well, we don't, really.
0:41:42 > 0:41:44We're just really confident we can get it
0:41:44 > 0:41:46because it used to be residential.
0:41:46 > 0:41:48It's been shut down now for at least nine years
0:41:48 > 0:41:51so everyone around here wants it back as a house.
0:41:51 > 0:41:54We're not converting it to two flats. It's just going to be a house again.
0:41:54 > 0:41:57And next door there's a public house which has been shut down this year
0:41:57 > 0:42:01that they've just granted permission for, we think, two houses on there
0:42:01 > 0:42:02and it's been granted,
0:42:02 > 0:42:04so why would they refuse us?
0:42:04 > 0:42:06That's the way we're looking at it.
0:42:06 > 0:42:09Did you do lots of research before you thought about bidding for this?
0:42:09 > 0:42:13- None at all.- So you did take a bit of a chance, lads, didn't you?
0:42:13 > 0:42:15Big-time.
0:42:15 > 0:42:17When you found out you needed a change of use,
0:42:17 > 0:42:18how did that make you feel?
0:42:18 > 0:42:21We knew we needed change of use cos it was in the catalogue.
0:42:21 > 0:42:24It was quite clearly stated but we didn't realise how involved it is
0:42:24 > 0:42:28and the forms we had to fill out and the drawings we have to do.
0:42:28 > 0:42:32- It's more involved than we really thought.- It's extremely involved to get change of use.- Yes.
0:42:32 > 0:42:35- And it doesn't happen quickly. - No, no, they warned us that,
0:42:35 > 0:42:38but they did say you can start to do internal works
0:42:38 > 0:42:40cos we need something to get on with
0:42:40 > 0:42:42and they said it can take eight weeks.
0:42:42 > 0:42:45So it's going to take as long to get change of use as what you think
0:42:45 > 0:42:47it's going to take you to do this property up?
0:42:47 > 0:42:49It is, but we're hoping to push it through.
0:42:49 > 0:42:51- The UPVC windows are going in. - OK, good luck.
0:42:51 > 0:42:54I really, really hope it goes your way
0:42:54 > 0:42:58- and I can't wait to see what you do to this place at the end.- Cheers.
0:42:58 > 0:43:03Well, Gary and Poodle are a match made in heaven as far as this refurb goes.
0:43:03 > 0:43:08But there are going to have to use their imagination to make this place heavenly.
0:43:08 > 0:43:11Find out if they manage it and what they do with those windows and,
0:43:11 > 0:43:16most importantly, if they get that change of use later in the show.
0:43:18 > 0:43:21All our buyers hope their journeys have been worth it
0:43:21 > 0:43:24and they take the right turns to avoid the pitfalls.
0:43:24 > 0:43:28So, did they? Decisions, decisions. Did they make the right ones?
0:43:28 > 0:43:30Let's go back and find out.
0:43:32 > 0:43:35In the coastal Cumbrian town of Maryport,
0:43:35 > 0:43:39a two-bedroom terraced house went to auction.
0:43:39 > 0:43:42It was bought for £43,000 by Linda, a former chef.
0:43:42 > 0:43:44Linda, who lives locally,
0:43:44 > 0:43:46has refurbished a number of properties in the past
0:43:46 > 0:43:49but this was to be the first one she planned to refurbish
0:43:49 > 0:43:52with a new business partner.
0:43:52 > 0:43:55I bought it with a friend, Kath.
0:43:55 > 0:43:58She has a property in Maryport as well that she rents out.
0:43:58 > 0:44:02She did one last year so this is our first joint-venture.
0:44:02 > 0:44:04How did that joint-venture come about?
0:44:04 > 0:44:08Over a few glasses of wine one night, really.
0:44:08 > 0:44:10There was about six of us just chatting
0:44:10 > 0:44:12and thought it would be a good idea if we did one together.
0:44:12 > 0:44:18# Red red wine... #
0:44:18 > 0:44:23This house should be food and drink for an experienced property developer such as Linda.
0:44:23 > 0:44:24Yes, there were a few damp issues
0:44:24 > 0:44:27and the layout wasn't great with a narrow kitchen
0:44:27 > 0:44:29and a downstairs bathroom off it,
0:44:29 > 0:44:33but it was double glazed, central heated with a decent roof
0:44:33 > 0:44:37and, overall, seemed to be structurally sound.
0:44:37 > 0:44:39Armed with a budget of £5,000,
0:44:39 > 0:44:42Linda and her business partner Kath set about turning this
0:44:42 > 0:44:47from vin ordinaire into something more special.
0:44:47 > 0:44:49And now, 12 weeks later, we're back.
0:44:49 > 0:44:55From the outside, it looks the same vintage as before.
0:44:55 > 0:44:58Let's hope the contents have improved.
0:45:03 > 0:45:05Well, they certainly have,
0:45:05 > 0:45:09with stripped, stained and waxed floor boards and fresh paint work.
0:45:09 > 0:45:12There's a striking difference in the front room.
0:45:12 > 0:45:16But it's in the second reception room where they've really been busy.
0:45:21 > 0:45:24Well, this was the original kitchen which was far too small.
0:45:24 > 0:45:26It was really just a galley.
0:45:26 > 0:45:29So the main thing that we've done is move the kitchen into here,
0:45:29 > 0:45:33which has given us a kitchen diner.
0:45:33 > 0:45:36We kept the original cupboards because they're great storage
0:45:36 > 0:45:37and we like them as a feature.
0:45:37 > 0:45:40The biggest job was knocking the fireplace out,
0:45:40 > 0:45:43the chimney breast, in order to get the cooker in.
0:45:43 > 0:45:45But we think the finish is quite good.
0:45:45 > 0:45:48It's a decent sized dining kitchen now.
0:45:50 > 0:45:53This is such an improvement and makes the space work
0:45:53 > 0:45:57so much better with that old kitchen now a useful utility area.
0:46:02 > 0:46:05And, although the bathroom is still downstairs,
0:46:05 > 0:46:09at least it's now further away from the cooking area.
0:46:09 > 0:46:14Upstairs, the two bedrooms have been redecorated and given a good clean.
0:46:20 > 0:46:23And it looks like those signs of damp throughout the house
0:46:23 > 0:46:26have now gone.
0:46:26 > 0:46:28In the front bedroom we had damp on the outside window
0:46:28 > 0:46:32which was just the guttering had come away, so that dried out naturally.
0:46:32 > 0:46:36That was just a case of redecoration.
0:46:36 > 0:46:37The same with the back bedroom.
0:46:37 > 0:46:40It was just a case of decorating upstairs.
0:46:40 > 0:46:42Damp in the back room here in the kitchen,
0:46:42 > 0:46:44which we sought expert advice on.
0:46:44 > 0:46:49We had to chip that back to the brickwork and dry it out
0:46:49 > 0:46:50so that's all been done.
0:46:50 > 0:46:52So that's good news.
0:46:52 > 0:46:54With the backyard certainly looking rosier,
0:46:54 > 0:46:59it's just the front of the house to be painted, then it's job done.
0:46:59 > 0:47:01Has it all been straightforward?
0:47:03 > 0:47:08The main difficulty is that I've done it with my business partner, Kath,
0:47:08 > 0:47:10so, being two females,
0:47:10 > 0:47:14we sometimes had to have some male help with the heavy stuff.
0:47:14 > 0:47:16SHE LAUGHS
0:47:16 > 0:47:20But, other than that, we just thoroughly enjoyed doing it.
0:47:20 > 0:47:23We haven't really had huge problems
0:47:23 > 0:47:25that we're tearing our hair out over.
0:47:25 > 0:47:27We've just enjoyed it.
0:47:27 > 0:47:31# I want muscles... #
0:47:31 > 0:47:34It was knocking out the chimney breast and making good the area
0:47:34 > 0:47:36that required the muscle.
0:47:36 > 0:47:40Has their relatively small budget been adequate to do everything here?
0:47:40 > 0:47:45I think, originally, we said 5,000 and I think we've come in just under,
0:47:45 > 0:47:50a few hundred pounds under the 5,000 so, yeah, we're on budget.
0:47:50 > 0:47:54With their original purchase price of 43,000,
0:47:54 > 0:47:56and that spend of around 5,000,
0:47:56 > 0:48:02Linda and her business partner would have spent about £48,000 plus fees.
0:48:02 > 0:48:05They're hoping to put it back on the resale market,
0:48:05 > 0:48:09so have they done the right changes in this house to encourage a buyer?
0:48:09 > 0:48:13What do two local property experts think?
0:48:13 > 0:48:14I particularly like the kitchen.
0:48:14 > 0:48:17I like the way they've combined the contemporary units
0:48:17 > 0:48:21and followed the handles through with the existing internal storage,
0:48:21 > 0:48:23so it's given that extra feeling of space.
0:48:23 > 0:48:26I'm very impressed the way this property has turned out.
0:48:26 > 0:48:28I think what they've done they've done really well.
0:48:28 > 0:48:32It's nice and light and airy. Obviously redecorated.
0:48:32 > 0:48:34And the most important thing is,
0:48:34 > 0:48:38they've shifted the kitchen out of what was a small galley kitchen
0:48:38 > 0:48:41into the second reception room and I think it works really well.
0:48:41 > 0:48:45Well, it seems they've been spot on the money
0:48:45 > 0:48:47in the way they've changed the property,
0:48:47 > 0:48:52but will it actually pay dividends on the resale and rental markets?
0:48:52 > 0:48:56I think in the rental market £375 per calendar month.
0:48:56 > 0:49:00I think if this property was exposed to the rental market, I think
0:49:00 > 0:49:04it will achieve a figure in the region of £375 per calendar month.
0:49:04 > 0:49:08That's good. That's feasible if it doesn't sell, yes.
0:49:08 > 0:49:15£375 per calendar month would give an impressive yield of nearly 9.5%.
0:49:15 > 0:49:18Not bad as a fallback position,
0:49:18 > 0:49:22but how would their £14,000 investment fare if put up for sale?
0:49:22 > 0:49:25In the current sales market, I believe you'd probably achieve
0:49:25 > 0:49:27in the region of £70,000 for a property like this.
0:49:27 > 0:49:30I think if this property was exposed to the sales market,
0:49:30 > 0:49:35I think you'd probably achieve a figure in the region of £70,000.
0:49:35 > 0:49:37Right, yes, we're quite pleased with that.
0:49:37 > 0:49:39Yes, we were thinking of a roundabout that mark.
0:49:39 > 0:49:45A £70,000 resale would mean a potential pre-tax profit of £22,000.
0:49:45 > 0:49:49Not too shabby. So, what's next on the menu?
0:49:49 > 0:49:50Hopefully buy another one.
0:49:50 > 0:49:53If we sell this one, we'll buy another one and start again.
0:49:53 > 0:49:56# Cos I don't know, don't know
0:49:56 > 0:50:00# If I can stop now. #
0:50:00 > 0:50:02it looks like there's no stopping Linda.
0:50:02 > 0:50:03She just loves doing up properties
0:50:03 > 0:50:07and turning them from water into wine!
0:50:12 > 0:50:16# This is the sound of the suburbs. #
0:50:18 > 0:50:21Back now to Maidstone in Kent
0:50:21 > 0:50:23where Gary, on the left, and business partner Poodle
0:50:23 > 0:50:27had bought this three storey end of terrace property at auction.
0:50:27 > 0:50:29It was formerly a dentist surgery.
0:50:29 > 0:50:32Poodle is a decorator and Gary is an electrician
0:50:32 > 0:50:37They have plenty of experience renovating property for other people
0:50:37 > 0:50:39but this was the first project of their own.
0:50:39 > 0:50:42They plan to apply for consent
0:50:42 > 0:50:45to change it from business to residential use
0:50:45 > 0:50:49but this was going to be more troublesome than first anticipated.
0:50:49 > 0:50:53We knew we needed change of use. It was in the catalogue clearly stated.
0:50:53 > 0:50:56But we didn't realise how involved it is and the forms we have to fill out
0:50:56 > 0:50:58and the drawings we have to do.
0:50:58 > 0:51:02- It's more involved than we thought. - It's extremely involved to get change of use.- Yeah.
0:51:02 > 0:51:04- And it doesn't happen quickly.- No.
0:51:04 > 0:51:07They warned us that, but they did say you can start to do internal works
0:51:07 > 0:51:10cos we need something to get on with.
0:51:13 > 0:51:15Starting a renovation before consents are granted
0:51:15 > 0:51:17is definitely a risky strategy
0:51:17 > 0:51:21but the lads were given the nod for the work to start inside
0:51:21 > 0:51:23and they were desperate to get stuck in,
0:51:23 > 0:51:26so just 11 weeks later, we're back.
0:51:28 > 0:51:30Outside, the building has been smartened up.
0:51:33 > 0:51:35On the ground floor,
0:51:35 > 0:51:38all evidence that it was once a dental surgery has vanished.
0:51:38 > 0:51:41It's now open plan from front to back,
0:51:41 > 0:51:43housing a light and airy living room
0:51:43 > 0:51:46that leads through to a contemporary kitchen.
0:51:46 > 0:51:49The kitchen, we started off by taking down a few walls.
0:51:49 > 0:51:54There was a stud wall here that made a little entrance into the WC.
0:51:54 > 0:51:57When we took out the old units that were being used by the dentist,
0:51:57 > 0:52:00we found that that was actually a back door
0:52:00 > 0:52:01so we changed that to a window.
0:52:01 > 0:52:03Retiled floor.
0:52:03 > 0:52:06Obviously glass splashback. Yeah, I do like it.
0:52:06 > 0:52:09Overall, I think it come out as a beautiful space.
0:52:09 > 0:52:12You're right there, Gary.
0:52:12 > 0:52:15Upstairs on the first floor is a similar high spec
0:52:15 > 0:52:17transformation in the new family bathroom.
0:52:22 > 0:52:26You can certainly see where the money's been spent here.
0:52:26 > 0:52:31Also on this floor is the first of three double bedrooms.
0:52:31 > 0:52:35The other two are on the top floor and are bright and spacious.
0:52:35 > 0:52:39Our tour ends here in the basement, which has been dug out
0:52:39 > 0:52:44and, with heating installed, it's now a fully functional space.
0:52:44 > 0:52:47The windows have been completely replaced.
0:52:47 > 0:52:51But the boys were undecided whether to go for UPVC
0:52:51 > 0:52:56or replace like-for-like with brand-new sash windows.
0:52:56 > 0:52:59We had the front ones remade rather than refurb the ones that were there.
0:52:59 > 0:53:01Also, because it's in a conservation area
0:53:01 > 0:53:06and we had to apply for change of use, it was sensible to go back with
0:53:06 > 0:53:10the original windows and the planning officer was very happy about that.
0:53:11 > 0:53:13Great!
0:53:13 > 0:53:16Brand-new wooden sash windows at the front of this property at least
0:53:16 > 0:53:21although, at the back, the boys did install UPVC.
0:53:21 > 0:53:26Now, there was that minor matter of permission for change of use.
0:53:26 > 0:53:28We haven't got change of use as yet.
0:53:28 > 0:53:31They've told us they would have to give us a reason
0:53:31 > 0:53:33why they wouldn't allow change of use.
0:53:33 > 0:53:37Being as it was originally a house, and we've put it back to a house,
0:53:37 > 0:53:39I can't really see any reason they can find.
0:53:44 > 0:53:47Gary and Poodle really are taking a chance here,
0:53:47 > 0:53:51as, despite having a strong case in favour of their application,
0:53:51 > 0:53:53nothing can be taken for granted.
0:53:53 > 0:53:57The original timescale for the property was eight weeks.
0:53:57 > 0:53:59Have they managed to complete on time?
0:53:59 > 0:54:01I think it did go roughly eight weeks.
0:54:01 > 0:54:04It might have gone into nine, but we did have Christmas in between.
0:54:04 > 0:54:08Yeah, we've done well. Worked hard but turned it around.
0:54:10 > 0:54:13How did the budgeting go
0:54:13 > 0:54:17bearing in mind the original estimate was £20,000?
0:54:17 > 0:54:19We've probably spent fractionally under 40
0:54:19 > 0:54:22but that's including all of the costs.
0:54:22 > 0:54:26The auctioneers' costs, the selling costs. Everything.
0:54:26 > 0:54:30Apart from mine and my partner's wages, that includes paying everyone,
0:54:30 > 0:54:34so we spent more than we thought but we think it's justified.
0:54:34 > 0:54:37That takes their total spend, including the purchase price,
0:54:37 > 0:54:40to 135,000.
0:54:40 > 0:54:44The guys are going to have to wait for that official change of use
0:54:44 > 0:54:46before they can either sell or rent this out.
0:54:50 > 0:54:53Meanwhile, let's see what two local property experts think.
0:54:53 > 0:54:55My first impressions of this property is superb.
0:54:55 > 0:55:00The renovation refurbishment is really excellent.
0:55:00 > 0:55:03Much better than the normal standard. I really am impressed.
0:55:03 > 0:55:07It's a really handsome character house with classic proportions
0:55:07 > 0:55:10that's been really well restored throughout.
0:55:12 > 0:55:15How much could the potential rental income be,
0:55:15 > 0:55:17assuming the change of use is granted?
0:55:17 > 0:55:19If we were to rent this property
0:55:19 > 0:55:23I would imagine securing a tenant at about £900 per calendar month.
0:55:23 > 0:55:26I would expect to achieve on the rental market
0:55:26 > 0:55:28£850 per calendar month.
0:55:28 > 0:55:32That's potentially a healthy yield between 7.5% to 8%.
0:55:32 > 0:55:33And its resale value?
0:55:33 > 0:55:40Remember, they spent £135,000 here, including costs and fees.
0:55:40 > 0:55:42If we were to market this property now,
0:55:42 > 0:55:45they would comfortably achieve £180,000
0:55:45 > 0:55:48and I think, on a good day, and the right buyer,
0:55:48 > 0:55:51they may even squeeze up to £190,000.
0:55:51 > 0:55:57I would expect it to achieve somewhere between 185 and £190,000.
0:55:57 > 0:55:59Yeah, quite surprised by them.
0:55:59 > 0:56:02We've done a bit of research and we think it's worth more than that.
0:56:02 > 0:56:06The one across the road went for 235 very recently, so, yeah,
0:56:06 > 0:56:08but we'll see.
0:56:10 > 0:56:16Those valuations could mean a growth profit of between 45,000-55,000
0:56:16 > 0:56:18before the usual selling expenses.
0:56:18 > 0:56:23So they're quids in whether they rent or sell, as long as they get planning permission.
0:56:23 > 0:56:26- Might be renting, might be selling. We'll see how it goes.- Yeah.
0:56:26 > 0:56:28We've got one person interested.
0:56:28 > 0:56:32We've got someone who wants to rent it that will really look after it,
0:56:32 > 0:56:34so we might go down that lane yet, we're not sure.
0:56:36 > 0:56:39Did they enjoy their first joint venture?
0:56:39 > 0:56:41- Yeah, I'm happy. - Yeah, definitely did.
0:56:41 > 0:56:45Every lad that's worked here enjoyed it. Definitely do again.
0:56:45 > 0:56:46Everyone's a winner.
0:56:48 > 0:56:51Well, that's it for today's buyers,
0:56:51 > 0:56:53but there are plenty more where they came from.
0:56:53 > 0:56:56And for a chance to follow what happens to them,
0:56:56 > 0:56:58make sure you join us next time for more Homes Under The Hammer.
0:56:58 > 0:57:00- We'll see you then. - Goodbye.- Goodbye.
0:57:22 > 0:57:24Subtitles by Red Bee Media Ltd